If you don't get into MBB there's no point in doing consulting...
I've heard this tossed around this forum quite a few times. I just want to hear some opinions about it.
Trending Content
Career Resources
WSO Free Modeling Series - Now Open Through
April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
If you genuinely want to be in consulting? Plus, there are some niche firms that are as well respected as MBB overall. For example, Oliver Wyman's Financial practice.
Troll.
I'm also curious to hear what people have to say. Not too sure about my chances for MBB at the moment.
Not really true for entry level.... Are MBB your best bet? Of course, as are GS/MS/JPM for IB. But OW/Booz/Monitor/etc offer many of the same exit opportunities as do MBB -- just as DB/BOA/Citi all offer the similar exit opps as GS/MS/JPM. Sure, the exit ops won't be as easy to attain, but they are still possible -- i.e. if MBB have a 50-60% acceptance rate at H/W/S; OW/Booz/Monitor etc acceptance rate will be lower like 30%.
The firms outside of MBB all recruit from the same schools as MBB, and in my experience don't really have lower requirements, so the caliber of the people is pretty much the same. The truth is MBB aren't only competing among themselves for work -- OW/Booz/Monitor/Deloitte S&O/Parthenon all compete for a lot of the same high-level work.
Now, if you're in it for the long-run, MBB is of course your best bet from a financial perspective. But at the "experienced level" lot of people at OW/Booz/Monitor/etc have worked at MBB and vice versa. So in the real world there really aren't two seprate worlds -- MBB and everyone else -- like there are in this forum full of college hopefuls :)
At the undergrad level, while MBB is usually seen as preferable (especially coming from a target), working at a respectable 'second tier' firm is still leagues ahead of working at most (not all) F500 firms as a generic FA / BA in terms of experience and several other factors. If you're coming from a non-target, getting into a MBB is harder because there's little to no OCR (hence the colloquial 'target / non-target'), so other big name firms become even greater opportunities.
TL;DR: The other larger(er) firms also offer excellent experiences, MBB maybe just a little more so.
i think firms like Booz, Deloitte, ATK and Accenture in their Management/Strategy consulting practices are still quite respectable for B-school and exiting into industry.
i'm in F500 finance and i like it, but i completely agree with the above statements that puts these "2nd tier" consulting firms above generic FA roles. i would leave my job for Deloitte Strategy and Operations in a heartbeat (note, this only applies to Management Consulting, not Tech/IT practices at these aforementioned firms).
very interested in this
one thing none of you morons understands is that your boss and your team is much more important than your firm for your experience and what you will get out of your job.
.
I don't doubt that, but don't we live in world where what you got out of your job is far less relevant to your exit ops than the prestige of the firm?
woah, what a thread. funny how we've gotten to the point were people are seriously discussing this. MBB are great, but your days as an analyst at Booz et al will virtually be the same.
Does anybody believe the IB-equivalent of this thread would receive the same attention?
"Rejected by GS/MS, received FT at DB. Should I just quit IB altogether?"
This is complete bullshit. Working for Deloitte S&O isn't 'worth it' because its not MBB? Mindblowingly ridiculous.
If you make the same money, do the same work, have the same exits, and the same overall lifestyle - why do you care what name is written on your paystubs?
I think it really depends on why you're doing consulting and what you want to get out of your (on average) 2-3 years in the business.
If you're looking to beef up your resume with the goal of exiting into PE or really desirable corporate strategy roles (e.g., google biz ops), I think the MBB name / prestige will be a point of differentiation vs a Deloitte. Now, before someone freaks out, I'm not saying that you CAN'T get these roles from a non-MBB firm - just that it's less likely. I don't meet a lot of non-MBB consultants at the Bain Cap / Carlyle / KKR recruiting events.
However, if your goal is to experience a variety of industries / functions and add some things to your toolbox (e.g., analytics), then I think you can get that outside of MBB.
Also, as some people have mentioned, I wouldn't limit the firms considered "MBB-caliber" solely to McKinsey / Bain / BCG. OW, LEK, Parthenon also have great reputations and (I believe) the same level of talent.
I'm curious then, if it's worth staying an extra semester into being a 5th year for the Fall to re-recruit for MBB?
I'm currently a 3rd year, and have been unsuccessful securing interviews with MBB. So I'm thinking of staying an extra semester if FT doesn't work out.
Thoughts?
P.S. I'm allowed to stay an extra semester given my double major.
@kwaconline, that's what I did, but not because I didn't get MBB in junior year. I just became interested in consulting starting senior year, after taking a semester off to do a F500 internship. I think for your case, HR might raise a flag if they have you on file (which they probably do). If I was in your shoes, I would confirm whether this is recommended first.
I disagree. Firms such as Booz, OW, LEK and Monitor are very well respected and for good reason. I know many alums from those firms and they are all solid. Below those firms, I think the talent is less consistent but there are still great people. With the top firms, there is much less variance,
Bottom line is, if you really want to play college hoops, for example, you will play whether it's at craptown state or Kansas. If you are really after prestige, etc you only go for big programs, it's really the same here.....what are you really after?
Molestiae quia quo porro. Quidem praesentium omnis ex qui ea rem maiores. Quae incidunt necessitatibus sed atque et. Magnam ea commodi est molestiae voluptatum quaerat. Sint dolorem veritatis asperiores. Quidem repudiandae qui iste ipsa minus id.
Voluptas qui alias eveniet facere at et necessitatibus. Nihil veniam sunt aut autem quaerat cumque molestiae illo. Et cumque nihil nesciunt eos nostrum. Et enim recusandae reiciendis repellat magnam. Temporibus consequatur beatae aspernatur odit nihil possimus.
Dolorem itaque laboriosam aut atque. Doloribus ut sit omnis ut. Et laudantium suscipit alias officia cumque ipsa voluptatem. Delectus aut nostrum ut eligendi aut eos.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...