Is IB more prestigious than management consulting?
From my small circle of friends, it seems that, in general, post-MBA MBB consultants have better exit opps than post-MBA grads after working in IB. Also it's not clear if there is such a large gap between EB IB vs BB IB vs MM IB in terms of exit opps, as long as the person has industry expertise (e.g. like a PhD in biotechnology, for instance).
But I was wondering if this is a generalizable trend?
Does MBB consulting offer better exit opps than EB/BB IB?
IB is more prestigious. There’s a reason Wall Street is the subject of countless novels, blockbuster movies, fantasy-esque TV dramas etc. and management consultants are not used as symbols of allure. Plus most consultants are simps with acne. The guys who cried during the mile-run in 7th grade gym class. Does have better generalist exits to industry though. Given that they are experts at doing nothing and making presentations of it, which is by and large what most generalized management jobs in industry consist of.
Well, don't you think you're a bit biased though?
You may be one of the exceptions, but when I was a banker, it became painfully obvious that a) majority of bankers are morons, including EB, BB, whatever, b) they are often the lowest on the totem pole in any given interaction unless the interaction is with other bankers or lawyers, and c) most associates and analysts spend a TON of time doing menial powerpoint work, just like consultants.
By the way, I wasn't the one who downvoted you. That was probably a non-MBB consultant LOL.
You're not wrong, but also, I'm here to fan some flames and talk my noise.
In all seriousness, I do believe the first part of my above comment holds true. In the eyes of general society, saying you're a banker or in finance has more cache and is more associated with status than consulting. Obviously the reality is we're all a bunch of degenerates chasing dollar signs, but the story of the high-profile finance guy seems to be more captivating to the masses than consultancy. Most people from college I knew who were really intellectual pursued things they have a deep intellectual interest and passion for be it bio-engineering, environmental sustainability, public health, etc.
You asked if Investment Banking is more prestigious than Management Consulting... on an Investment Banking forum... Did you think they wouldn't be biased?
MBB is more prestigious than any IB, besides perhaps the top groups of EBs, but even then they're fundamentally different and some carry more weight with some than others. The smartest of the smart undergrads nowadays are choosing Tech (MFAANG or top startups)/Buyside ≥ MBB > IB. I say this as someone in IB.
The top undergrads nowadays are going directly to MF PE, HF, or VC, skipping the IB thing altogether.
Question aint what the top intellectuals from HPY pursue. That's a whole different discussion.
Would that not be a good indicator of prestige?
Top undergrads are not taking Microsoft or Amazon over buyside gigs.
Would say there are top undergrads who have taken/chose to go the path of Google APM/Facebook RPM over buyside gigs
Personally have a friend who took a Microsoft PM gig over an MM name-brand PE shop. Not sure about Amazon, but like that's one letter out of the acronym so maybe a bit nitpicky lol
Both are great. I wan't comment on the pros/cons and will let someone do that. Understand these are two very much different animals. Sure some transferable skills but both are for two different things!
My reason why I didn't start my career in consulting was because I can always do this in my 40s+. My logic is simple, who the hell are you and why should I trust a 23yr kid with the transformation of my india IT team. Thus credibility. You but more important skills in IB.
Best piece of advice: talk to 30 bankers and then talk to 30 consultants in MBB. Best way for you to figure out where you fit in
Who cares.
You said it pal. Whooooooo cares.
Post-MBA associates don't have the same access to PE exit opps as analysts from undergrad which may be skewing your perceptions. Also, the ratio of people career switching into consulting is probably lower than those switching into banking as it's pretty uncommon in banking to do it pre and post MBA.
Yes
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