MBB in undesirable living situation, ACN in a good city, or Global Fortune 25 Company for B-School

brooj14's picture
Rank: Orangutan | 334

Trying to decide which opportunity to take in order to best position myself for M-7

MBB- Management Consulting, would be working is Chicago, first year comp around $80,000 before year end bonuses. Really do not want to work in Chicago because parents live in the suburbs and will not let me get a place of my own downtown. After 4 years of college life in LA area coming home to my apartment drunk every day of the weekend, I would not be able to do that at my parent's house since my parents do not drink ie No Social Life. Signed because it was the first offer (Bird in hand is better than two in bushes mentality)

The two following positions would require reneging on MBB but I might anyways because I do want to live in Chicago at all

ACN- Management Consulting, would be working in Indianapolis, first year comp around $76,000 before year end bonuses (Parents have a nice condo in a golf course neighborhood in the area that I would live at for free by myself).

Global F25 company- Financial Analyst, location is negotiable, rotational program $55,000 base, bonuses not likely. Huge international name, but not a big brand in the US but growing at an incredible rate.

Thoughts?

Region: 
France
United States - Midwest
United States - West

Comments (71)

Mar 25, 2014

First time I ever heard a larger city like Chicago being called "undesirable" compared to a mid-sized city like Indy. I guess you have your own considerations of not paying rent in Indy.

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Mar 25, 2014

This is completely out of whack. Chicago is undesirable and Indy is desirable.I am very familiar with both cities and if you like the Midwestern cities, I cannot for the world understand why you would not like Chicago. I would understand if you wanted to be on the coasts or something. But these two cities are like 4 hours apart and only one of them is internationally known, also the MBB offer is in that city.

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Mar 25, 2014

I think my update clears things up. I love Chicago, just not the living situation. Plus in Indy, I could sublet the rooms in the condo to workmates and make good money since it is a 4bed 4.5 bath upscale condo

Mar 25, 2014

No rent in Indy is pretty sexy.. but Chicago would be fun, too. I did no rent for the first 6 months of my career and I wish I could go back. Amazing how much you can save while living like a king.

Mar 25, 2014

Whichever job will get you out of the country.
On the ground international experience is key. Not just a week or two, but really getting to understand another culture that speaks another language.

It's like check-the-box these days.

Betsy Massar
Come see me at my Q&A thread
http://www.wallstreetoasis.com/forums/b-school-qa-... Ask away!

Mar 25, 2014
Betsy Massar:

Whichever job will get you out of the country.

This, but only because it gets you further away from your parents.

    • 2
Mar 25, 2014

How would your parents "stop" you from getting your own place in downtown Chicago? You're over 18 and are making your own money. Am I the only one confused by this...?

Mar 25, 2014

Grad school money and I quote my dad "I do not see how getting your own place downtown is a good move. If you cannot make a good financial decision with a unnecessary $12,000 expense that you will use at max 3 days a week, how can I trust you to make a good investment with $150,000 that I will paying for B-school in a few years?"

Mar 25, 2014

OMG. I don't know what to say to this.

I know that your dad wants the best for you, but with all due respect, he probably does not know the difference in career outcomes when you start out at MBB vs Acc.

I wish I was in your position. All I can say is be long term greedy.

    • 1
Mar 27, 2014

Pay for B-school yourself, that would solve your dads concern

Mar 25, 2014

I strongly advise you just to tell your parents that the Chicago office does a lot of local work. I have no idea if this is true, but I assume neither do they. Throw in a "Oh yeah, the hours at this office are brutal - I'm not driving to Schaumberg / Naperville at 2am. It's not safe for me to be on the road after multiple all-nighters."

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Mar 25, 2014

Thoughts on crashing at a buddy's place in the city during the weekends?

Mar 25, 2014

Choose the right job, not the city and not the money. Going MBB will open many more doors down the road. Live at home for 3 months to save a couple paychecks and then you can make an "informed" decision and have some first-hand experience to convince your dad that you're making the right/necessary move downtown. Parents might be sick of you by then and want you out anyway..

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Mar 25, 2014

I think I might live at home but intentionally come home super late on Fridays and Saturday until they "allow" me to get a place downtown that I would pay for myself. I know my parents have the best intentions but it usually takes me a while to realize they were right. For example, their rules were once we (the kids) were 18, we no longer got any money from them except for grad school and a couple hundred for b-day and Christmas. So I had to take out loans for undergrad which I hated doing but ultimately it made me more vested in my education which led me to being more successful. My older sisters both got the same lesson and they turned out well because of it, oldest got her MD from Stanford and middle sister is working on MD at John Hopkins and are paying off loans from undergrad themselves.

Considering I want to go industry after MBA, doing the rotational program for an auto maker would be a great way to get started in an industry that is going to be around for a while. The salary isn't great but paying rent, student loans, food, and car(company discounted lease comes with free insurance and I think schedule maintenance) in cities that have a better cost of living than Chicago means $55,000 should be enough.

The real question is this better than MBB on B-school application?

Mar 25, 2014

Lol at living at home and being "forced" to after college. What are you, twelve ? Sack up and take MBB and live downtown

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Mar 26, 2014

I think you missed my point earlier about my B-school tuition being of issue. If that was not involved at all, I would have already signed an apartment downtown.

Mar 25, 2014

God damn, this is insane. Clearly MBB is the best offer and it's not even close. You're thinking about taking a worse job in a worse city because A) you don't want to live with your parents for 1 year (maybe more) and B) you are too afraid to tell them you don't want to live with them. Just tell your Dad you won't be able to get laid if you live with them. Your parents don't own you, but if you let them control you with the grad school carrot, they basically do. Don't make a bad decision because you don't want to have an uncomfortable conversation. Show a little leadership/backbone.

    • 5
Mar 25, 2014

Most people in MBB gets sponsorship for MBA. About 10-14 people at Accenture do. Even though your plan is to go to industry, something to keep in consideration if money is an issue. You'll also get paid more in MBB 1-2-3 years out (higher bonus/raise).

ACN people are spread out across Top 15 programs, while you could say its harder to find MBB people outside of M7. Then again MBB candidates have better profile (undergrad school, GPA, GMAT, etc.) outside of just the work experience. I'd personally take consulting over corp rotation, probably cause I did consulting before MBA and it's probably the best place you can be out of undergrad from learning perspective.

    • 1
Mar 26, 2014

Let's break it down.

brooj14:

...to best position myself for M-7

If this is really your goal, the best job option you have is MBB (congrats) and the rest of this post is irrelevant. Period. I don't know what your plan is post-M7, but if you renege, you're dead to that firm... forever.

brooj14:

...parents live in the suburbs and will not let me get a place of my own downtown.

Two choices (there's a theme, pay attention):
1. Grow up. Live with your folks; it is actually a financially sound option that I wish I had had. With the money you save and your hotel points, rent a suite in River North every weekend if you need.
2. Grow up. Sack up and tell them you're a big boy and can make your own decisions about where to live.

brooj14:

...would be working in Indianapolis, first year comp around $76,000 before year end bonuses (Parents have a nice condo in a golf course neighborhood in the area that I would live at for free by myself).

Let's stay focused. Indy over Chicago? Really? Broad Ripple is fun for about 2 days. Chicago is among the largest US offices for MBB. That's far more important that finding a way to continue frat life.

Finally,

brooj14:

After 4 years of college life in LA area...

USC or UCLA? If you're a Trojan, FTFO. Otherwise, smells like Gatorbait!

Mar 26, 2014

Grow the fuck up! I cannot believe with your reasoning skills you got a MBB offer. MBB are the biggest feeder to H/S in the fucking world. Tell your parents to go and fuck themselves. It is your life and now you can do whatever you want because you have a job and you are grown ass man.
MBB in Chicago>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>ACN in Indy.
I think even homeless people know this.

I hope this is not a BS or a troll thread because I am having trouble believing this.

    • 1
Mar 26, 2014
Ghosh:

Grow the fuck up! I cannot believe with your reasoning skills you got a MBB offer. MBB are the biggest feeder to H/S in the fucking world. Tell your parents to go and fuck themselves. It is your life and now you can do whatever you want after that you graduated and have a job. MBB in Chicago>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>ACN in Indy. I think even homeless people know this.

It is called doing a cost/benefit analysis of if this is worth losing them paying for b-school. Fyi, I from the very beginning have made it clear to my parents that I wanted to live downtown instead of at home but it was their insistence that I live at home. I think you are totally miss the situation, I can work wherever I want but is $12,000 and a couple months of hostile father/son relationship worth losing B-school tuition over and hoping MBB will cover b-school cost. I am going to talk to my connection that is a MD at this MBB and see if he can pull me to his office in Atlanta and see how it goes from there.

Mar 26, 2014
brooj14:
Ghosh:

Grow the fuck up! I cannot believe with your reasoning skills you got a MBB offer. MBB are the biggest feeder to H/S in the fucking world. Tell your parents to go and fuck themselves. It is your life and now you can do whatever you want after that you graduated and have a job. MBB in Chicago>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>ACN in Indy. I think even homeless people know this.

It is called doing a cost/benefit analysis of if this is worth losing them paying for b-school. Fyi, I from the very beginning have made it clear to my parents that I wanted to live downtown instead of at home but it was their insistence that I live at home. I think you are totally miss the situation, I can work wherever I want but is $12,000 and a couple months of hostile father/son relationship worth losing B-school tuition over and hoping MBB will cover b-school cost. I am going to talk to my connection that is a MD at this MBB and see if he can pull me to his office in Atlanta and see how it goes from there.

I think you're missing what most people are telling you. We get your situation. But you also could take this chance to become more independent. MBB is by far the best choice out of all three here. And you're going to be making more than enough money to get your own place, especially in Chicago. Doing that will lead to one of the three following scenarios:

1) Your parents eventually come around, and you get to be more independent from this point onward. They still offer to pay for your MBA.

2) Your parents continue to be irrational and doesn't offer to help with MBA tuition anymore. Then:
a) you get your MBB to pay for it, which shouldn't be too big of an issue if you don't mind coming back for two years.
b) you take out loans. I'm guessing this is what you're scared of, but it's what the majority of people do. (Plus, coming from MBB you'll probably get aid if you don't want to go the sponsorship route.) In the grand scheme of things, it's not much. And you're not going to have trouble paying back the loan.

My sense is that eventually your parents will come around and 1) will happen. (I've seen it happen with multiple Chicago friends whose families live in the suburbs.) But, even if it came down to 2 b), it's not a terrible situation. You just have to grow up. And as an added bonus you'll get to show your parents that you're an adult living an independent life, which would make your life a lot easier in the long run.

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Mar 26, 2014

Well it is your life man. Do you whatever you want. I would try and get way from controlling parents like that. Good luck.

Mar 26, 2014

Could have sworn you comment was longer when I read it a few minutes ago, but thanks. Apologies if I came off a rude in my response.

Mar 26, 2014

Yeah I changed it because I felt what I mentioned has already been mentioned by other people here.

Well I was rude. You don't come off as rude but you come off as someone who is having trouble moving away from your father's shadow. Look man you are smart kid, you will figure out what is the best thing for you, hopefully. Good luck.

Best Response
Mar 26, 2014

As much desire as I have to do so, it's not really worth anything to you to just say grow up because you won't listen.

Personally, I think your parents are incredibly selfish. If you have the means to own a second house on a golf course but won't pay for your son's college, thus forcing him to take out loans that could set him back for 20 years, then you probably should have reconsidered having kids in the first place. And he's telling you about prudent financial decisions? I've got no issue with people that don't have enough money to pay for college, and even understand if parents don't save properly despite making enough yearly (although again, I think that's a responsibility of parenthood), but that does not seem to be your parents.

Also, it's a bit confusing that he wouldn't pay for your undergrad, but is now dangling this carrot over your head of paying for b-school. Fuck that. Show him that he taught you well enough by making you pay for college that you can manage being independent afterwards, and that you'll handle it yourself. Don't burn any bridges, but prove to him that you're independent (my guess is he'd likely be proud of you and come around with the $ anyway). Plus, as others have said, you have a VERY good shot at getting sponsored by MBB, and obviously it's almost a lock that you'll get into an M7 school.

You just managed to live independently on loans for four years in a more expensive city. You will now have a full time job with six figure pay after bonus. I have full confidence that you will be fine.

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Mar 26, 2014

MBB typically will pay for an MBA and even then top tier consulting offers will reimburse new hires for their second year for top performers. It's pathetic you are even having your Dad pay for your MBA and letting them dictate the best years of your life. It really is pathetic.

Mar 26, 2014

^ This.

If youre describing this situation accurately, your parents are morons (no offense).

Mar 28, 2014
yeahright:

... even then top tier consulting offers will reimburse new hires for their second year for top performers.

This is not accurate. Deloitte, Accenture, a few boutiques reimburse second year tuition for returning interns. MBB do not.

Mar 26, 2014

This is pathetic. You are a full-grown adult, selling your dignity for $150,000 in b-school tuition. Be a man, realize that relations with your parents will sometimes be frosty, and take the offer that will best position you in your career. Your father will only start respecting your decisions once you feel confident in your own ability to manage your life.

Mar 26, 2014

If anything I'd tell your dad his argument is null and void because you'll be sponsored by MBB. Tell him if he wants you to live at home for a couple years to pay off your student loans instead since grad school is covered.

And as I said before, sack up.

If you're afraid to tell your parents you don't want to live at home when you've been independent the past four years of your life, I highly doubt the 'living at home' is going to be your biggest obstacle for getting girls to come home with you.

If anyone needs clarification on that, please ask.

    • 1
Mar 26, 2014

I mean listen, mad props to your dad. You live off the dole you listen to the master. I'd take the MBB job and live at home.

I'm not going to shit on you, but I'm not going to respect you either. Do what your dad says and save your money. At least you'll have weekends in Chicago if you can get your permission slip stamped.

Mar 26, 2014

The original post damaged my perception of generation Y, but the responses restored my faith. OP, this is just sad.

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Mar 26, 2014

I will never understand parenting or parents. Like if I was cursed to have a child I would miserably ensure that they grew up to be an opinionated adult by 18, or at least 22. I mean the bigger issue isn't living with your parents post-grad, because if they were cool then it would be a smart move. The issue is not only being forced to live with your parents, but them being dicks while you are under their lock and key.

Mar 27, 2014

Points well taken. All things considered, even going MBB in Atlanta would still be a "step down" from Chicago and a step I do not want to take. For what it is worth, I spoke with my dad this afternoon and told him I will be living downtown regardless of his demands and I will be taking my chances with MBB tuition sponsoring.

His response was "We will talk about it when you are next home"
Me: "There is no next time I will be home, after graduation, I am moving directly downtown and you can accept it or hate it, but the decision has been made"
Dad: "Yea, well I got to go, do not consider this conversation over by any means" (hangs up)

I know the fallout of this will probably take months to recover, but it was what needed to be done.

The fact I considered taking a lesser job in a worse city was definitely stupid on my part and I don't know why I thought about it but hindsight is always 20/20.

Thanks for the all the post that forced me to make right choice. Granted, I would ending up making the right choice eventually, but making it now, allows me to focus on other things and not drag this out.

Mar 27, 2014

Probably the better path to take. Also AFAIK, MBB's typically help to finance your MBA after a few years but I'm not sure if all offices do this and what kind of commitment they require from you. In the worst case, your parents don't pay for your MBA, but honestly you can probably take care of that yourself in a few years if you really commit to it. In any case, downgrading your career prospects just to gain some modicum of independence from your parents is not the right way to go at all.

Mar 27, 2014

IMO, good move dude. Your dad sounds like a dude who respects people who stand up for themselves. You're going to be in a demanding role and need to be close to work and network, etc. Just show that you aren't getting fucked up and screwing around and he should be fine.

Your dad might give you shit, but in a year he will respect you.

Mar 27, 2014

guys...this is a troll post. nobody with an MBB offer would turn to an internet forum to ask questions about living with their parents. if I'm wrong, good luck my friend.

Mar 27, 2014

Is this thread for real?

Mar 27, 2014

@onetwobit Might be a troll, but I think you generally overrate the independence/adult capabilities of 21 year old kids that can get good grades and pass a case interview.

Mar 27, 2014

I 100% believe this post.

Mar 27, 2014

Dude, grow a fucking pair for god sakes. You're are a grown ass adult with your own job, why the fuck are you letting your parents dictate where you can live.

What's next? They're gonna tell you who you can date, what you can eat and what to wear?

This is the most pathetic reason for choosing which job to accept.

Mar 28, 2014
ST Monkey:

Dude, grow a fucking pair for god sakes. You're are a grown ass adult with your own job, why the fuck are you letting your parents dictate where you can live.

What's next? They're gonna tell you who you can date, what you can eat and what to wear?

This is the most pathetic reason for choosing which job to accept.

^^ This, plus an adcom is going to see right through your application if your on here asking for advice dealing with your parents. Every MBA student, especially at top programs, is highly independent.

Mar 27, 2014

I'd live at home. Plus - Won't there be a lot of travel with the consulting gig? Work hard at home, play on the company's dime while you are away. That makes the most sense to me. Save the money that you aren't spending in rent and bar tabs. In 2-3 years when you are very comfortable financially, you will be so glad that you did. Getting wasted is overrated. I did a ton of that between 18 and 21 and would love to get back 95% of those days, the money spent, and the brain cells if I could. I'd be a helluva lot more accomplished in my career and net worth if I could go back. Not to be uncle Rico or anything, but trust me, focus on what's important. Keep a balance, but have a few limits on the fun.

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Mar 27, 2014

I think the last thing consultants get to do during travel is "play".

Mar 27, 2014

Understood. I meant more along the lines of being able to have your drinks after work and crash in your hotel at night.

Mar 27, 2014

deleted

    • 1
Mar 27, 2014

OP--glad it sounds like you're making the right choice. But just FYI, a LOT of people read this forum. As someone who works at MBB in Chicago, it would be very easy to identify you from this post if you were coming to my firm (many current associats / BAs have seen the resumes of the incoming classes or have met them through recruiting).

Be careful discussing something as sensitive as reneging on an offer when it could conceivably make its way back to your employer.

Mar 27, 2014

That is an excellent point I did not think about. All I can do is hope that my MBB firm's people are not actively browsing this site, otherwise I might have some explaining to do on my first day. Truly a careless mistake on my part, though it did force me to make the right decision now.

Mar 27, 2014

Rent a small room in a house/larger apartment in downtown Chicago on craiglist and just throw a mattress there and a few clothes for when you need to crash/bring someone back there. $400 a month or something...

Mar 27, 2014

Good call. I would think that the MBB situation would be creating a "crash" situation every night. Definitely not a 40 hour work week. It would be more work, time and money to run back and forth from the suburbs, and the cheap place downtown would be a good choice as a primary residence IMO.

Mar 29, 2014

I also think the op is trolling. This post in itself is a simple case interview. He obviously failed to immediately realize what the optimal decision is - MBB in Chitown. This makes me think he'd fail any real world case interview

Mar 27, 2014

@wareagle4320 Didn't MS you, but your post is still pretty ridiculous. You're basically telling OP to get his priorities right by focusing on money, not his self respect, indpendence, and dignity. I would say that's relatively backwards.

Mar 27, 2014

@"BGP2587" - I don't see how an individual asking about the pros and cons of living at home or living away from home based on job offers and city locations could derive anything in my post about self respect or dignity. If they are asking for an opinion, I gave mine. All I was saying is that living at the bars is overrated in my opinion. Didn't say that he should stay under the thumb of his parents forever, just that future situations derive from decisions in current circumstances. Quite a ridiculous thought. I thought that everything my parents said and did at that age as stupid and belittling to me, but a lot of it wasn't. Sometimes the boundaries have to be spoken about before they will change, i.e. - "I will live at home, but as an adult, we need to come to terms about my privacy and my abilities to be social in a big city." If they won't move on that, yes, it probably isn't a good situation. I was just trying to point out some of the pros and cons.

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Mar 27, 2014

delete

Mar 27, 2014

Gotcha, but OP was the one that suggested he wanted the capabilities of coming home drunk every weekend night like he did in college.

Mar 27, 2014

@"brooj14" - Atlanta isn't so bad. There are a lot of good reasons to check it out. If you were looking at cities in the south, it's one of your better options.

Mar 27, 2014

Living at home isn't that bad, especially right after undergrad. Lot of people without the high income do it, heck my friends making 100K+ still do it and they are about to hit 30, and I have crashed at their (parents) place drunk. Probably depends on how controlling/annoying your parents are. But can be a pretty good call overall, especially over spending $1500/month on rent+utilities.

Mar 27, 2014

Friends with an "s" are 30 and make 100k and live with his/her parents? Either this is complete bs or he/she is Italian or Indian?

Mar 31, 2014
Ghosh:

Friends with an "s" are 30 and make 100k and live with his/her parents? Either this is complete bs or he/she is Italian or Indian?

I may very well live with my parents for six months when I get out of school.

I'd be even more inclined to if I were paying NYC rents.

Saving $1500, $2000, $2500/mo in rent is nothing to sneeze at, assuming you are mildly frugal, would not have enough net worth to own a place outright (no mortgage), and it is for a short time and you can leave early if you change your mind.

There is no shame in it if your parents offer and you help out with the utilities and property tax. It sucks for dating, but if you're mostly going to be working pretty hard your first year on the job like most people in finance, and you like your parents, I don't think it's a big deal. For a few months. Until you get a serious girlfriend. If your mom is not an unreasonable nagger.

Mar 27, 2014
abacab:

Living at home isn't that bad, especially right after undergrad. Lot of people without the high income do it, heck my friends making 100K+ still do it and they are about to hit 30, and I have crashed at their (parents) place drunk. Probably depends on how controlling/annoying your parents are. But can be a pretty good call overall, especially over spending $1500/month on rent+utilities.

What country do you live in? Living with the parents seems like a nightmare for someone who wanted to have sex on occasion (or more).

Mar 27, 2014
DickFuld:
abacab:

Living at home isn't that bad, especially right after undergrad. Lot of people without the high income do it, heck my friends making 100K+ still do it and they are about to hit 30, and I have crashed at their (parents) place drunk. Probably depends on how controlling/annoying your parents are. But can be a pretty good call overall, especially over spending $1500/month on rent+utilities.

What country do you live in? Living with the parents seems like a nightmare for someone who wanted to have sex on occasion (or more).

Living with parents is considered such an embarrassment and a sign of incompetence in the U.S., but not so much in some other parts (or cultures) around the world. I'd say the best course of action for OP is to agree to live with his parents, but stay in hotels downtown Chicago whenever he has to. That way, he will still save $ (with no rent) while not giving up on that bschool tuition offer from his dad. Of course, this would only work under the assumption that his parents are OK with him occasionally not coming home overnight.

Mar 27, 2014

It's US. But yeah some people got it right. People I am thinking are Cuban, Asian and Italian. Some also had odd circumstances (e.g. works in two cities, bought expensive home in one and lives with family in another). Then there are also failure to launch cases across the race/culture borders. There were whole bunch of articles about that last year too with people graduating around my time (2008).

Mar 27, 2014

Take the Chicago offer and live where you want. At the end of the day, you got to live your own life.

Be tactful with your parents. I'd say something like "I appreciate your offer to help pay for MBA, but I've thought it through and living on my own is the right move for me." If you're a smart guy, you can figure out a way to pay for your grad school--or figure out a way to get your company to pay for it.

Mar 27, 2014
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Mar 31, 2014
Jun 9, 2018