M&A to Strategy / Management Consulting?

I am fortunately given the choice between continuing the current M&A route - or moving onto strategy / management consulting within financial services. Both are great companies so the destination isn't the issue.

I was wondering whether anyone can share an insight into transitioning from 1 to 2? How typical it is, how viable it is, how relevant it is, and what similar skills would come into use?

Cheers guys

 

M&A as in investment banking? I feel like that's a pretty easy transition to make. I interned in IB before recruiting for consulting full time and I was always asked why I made the switch. My answer was something along the lines of: I think strategy projects are interesting, but I want exposure to more problem types and industries than IB can provide. I'm also looking for more of an intellectually challenging culture which I have felt at 'xyz consulting firm' but not at 'abc investment bank'. The feedback I got on this answer was almost always favorable.

 

Nice. I think I'm being misled by the one person I spoke to a while back who was adamant that Strategy is not only irrelevant to IB but also incredibly subjective as to 'anyone can do it'; though I have always been inclined towards strategy.

But Nightman, do you see any correlation in terms of the specific skills sets? Will it really be less analytical? Is it as subjective as it sounds? And by chance, do you know what the team members assigned for a strategy project would do i.e. its compartments? Cheers my man.

 

Yea I'm not entirely sure why anyone would say that IB is unrelated to strategy consulting. M&A could even be considered a component of strategy consulting (i.e. a consulting firm recommends company X enters market Y through the acquisition of company Z). I feel like both roles are quite analytical - my interviewers definitely made sure that I stressed my analytic skills during my interviews.

I really can't speak to much more about consulting considering I haven't spent a day as an actual consultant yet (I'm a senior heading to a tier 2 boutique after graduation). Hopefully someone more knowledgeable than myself can chime in. Good luck.

 
Best Response

I have few friends who moved from BB IBD in London to MBB in the UK or Continental Europe after working 2-3 years in banking. They all ended up in entry level positions, however got promoted much quicker (in some cases even after 6 months). In terms of skillset I don't think it will be too hard for you to transition altough you will have to pick up some of the operational skills on the job. In one or two cases my friends agreed with the joining firm to join a specific PE/Corporate Finance/Turnaround team where it would be easier for them to transition. You will definitely enjoy better hours than IBD but the hours can still be long (60-80 rather than 90-100hrs per week) and constant travel can also take its toll. Personally I think that having an IBD and consulting experience under your belt will give you greater career flexibility down the road than banking alone.

 

Unless you have an advanced degree and 5+ years of work, I don't see an experienced hire move to MC. The MBA route is your best bet - at INSEAD, LBS or IMD will make it easier - you have reasonable experience, right age, and assuming decent grades / GMAT / story / app execution that would be the best way into MC, including MBB.

 

Thanks for the help GPMagnus. I now have to decide what would be a good position for the one to two coming years to prepare the move to MBA. A guy offered me to work in Irak in oil tax consulting however i am not sure it would be the best way to prepare the MBA admission despite the fact that if i get kidnaped i would have plenty of spare time to prepare for the GMAT. I think i should better look for something in the UAE or south eastern asia in international tax or international tax related business dev.

 

Hi IB2345, hope I can help. Do any of these links cover what you're looking for:

  • Strategy consulting to investment banking operations statements, mergers and acquisition opportunities, market trends, corporate strategy etc.. on behalf of ... finance but being realistic I wont get into investment banking or private equity. I am looking at back ... office functions. How hard would it be for me to get into operations in a bulge bracket bank? BB Ops ...
  • Many Blackstone M&A bankers expected to depart ahead of spin off to Taubman others have lost out to people doing similar jobs at Taubman's PJT Capital LP, the sources said. ... working in Blackstone Group LP's mergers and acquisitions advisory arm may leave as the business is ... Anybody have any thoughts or further info on this? looks like the rx team to stay as is and the ...
  • Consutling M&A vs Investment Banking M&A take. I am particularly interested in Mergers and Acquisitions. Can someone please go into details about ... the differences between working in the M&A practice of a consulting firm vs. the M&A group at ... I am currently a junior studying finance and am in the process of deciding what career path to ...
  • I worked on the Amazon / Whole Foods acquisition — AMA! Hi WSO! Since the Amazon /Whole Foods acquisition seems to be the "hot topic of the ... department head) at our location in Portland, and was amongst one of the first people to hear about the deal ... whole foods Merger acquisition ...
  • Best Place to learn about M&A Strategies What are the best places to boot camp or learn strategies in Mergers and Acquisitions? Websites, ... books, blogs, and which company leads in this discipline, or personal experiences. Mergers and ...
  • My journey from no-name boutique to PE MF country and thanks to some luck I got an analyst job at a small unknown boutique. The pay was rather low, ... I can say I would not have done it without you so I think it is time to give something back. I am sure ... It was heartbreaking because I thought going to a top school was the only way to get an M&A job ...
  • Houlihan Lokey M&A vs JP Morgan Global Corporate Bank Houlihan Lokey has extensive expertise in mergers, acquisitions and divestitures for a broad range of ... an international, advisory-focused investment bank with 14 offices throughout the United States, ... resources to help you realize your business objectives. JPMorgan Chase: The Global Corporate Bank manages ...
  • Barclays M&A Chairman QUITS addition to the list of departing senior leaders at the bank, amid restructuring and under performance. FT ... Ed King, mergers and acquisitions chairman, has quit Barclays. King's departure is the latest ...
  • More suggestions...

If we're lucky, the following pros may have something to say: McEnroe @Sussex" @morrisp33"

Hope that helps.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Beny23:

You can try E&Y Transaction Advisory, Deloitte TS, PwC Deals or even KMPG.
I think it's a good idea but if I were you I would go for an Associate at a BB.

How would I go about obtaining an associate position?

I heard big four is growing fast that could be an interesting option!

 

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