Mckinsey Vs. Jefferies Associate

Hello,

I am in a top 3 B-School, and have offers from Mck - Ops Practice (Chicago) and Jefferies IBD (NYC) for full-time Associate positions. Please advice.

My analysis so far:
Personal: My background is 2 yrs in Oil & Gas, 3 years as CEO of middle market manufacturing business, 6 months VC, and summer intern at Nomura. Agnostic to the work. My motivation if to go up as fast a possible, and be in a powerful & influential position. Long term I think I can aim either for CEO/CFO route, growth PE or entrepreneurship.

McKinsey OPs
- Phenomenal brand and network
- One of the best practices within McK
- Equally bad lifestyle, but slightly better control over weekends
- supposed better exit opportunities- however i feel that the option value is considerably higher for going into corporate and choosing which industry to pursue
- people related skill set
- Chicago Vs. NYC - lower pay in consulting is effectively compensated for by the difference in cost of living

Jefferies NYC
- Good Brand
- Upside / Growth Opportunity - since it is in a transformation and positioning itself for BB and rumors of takeover
- Better pay - but offset by taxes and cost of living - for first 2-3 years
- Leading groups in - Tech/ Cleantech/Healthcare/ Marine Shipping

I have constantly been disturbed by the following questions:
- McKinsey brand is good - but does it actually open that many doors and do you ever make good money
- McKinsey - people sell the fact that weekends are sacred - are they actually? I mean if my personal life is completely screwed both ways, then i will go for banking where i at least get paid for that. Also there is something to be said about coming home every night to sleep with your family rather than being away for 4 days at least.
- Jefferies - I have not been interested in bulge bracket. However assuming 2 years down I want to shift to a better brand name - is it actually possible to make the shift to GS/MS/JP?
- Jefferies- Due to its lean structure and existing growth rate, I think the beta is slightly adjusted and the probability of getting laid off is lower than for banking in general. Would you agree with this.
Jefferies - Does it lead to exits in CFO in industry route in case I want to switch?
- I am confident of my ability to perform. However trying to analyse worse case- Excluding people who leave both for personal reasons, which industry is riskier in terms of job security and opportunities there after?

I would appreciate any input and help. I have read other posts, and am posting this to have a more current idea as well as have a perspective with respect to my concerns.

Many Thanks,

 

Thanks 2x2Matrix for your comments. My worry is not losing the job, but more in terms of the fact that a prospective takeover might give it the brand name that most of my colleagues at B-School are referring to. And yes $250K+ is decent money, but I was thinking more in terms of comparison to banking, in which case the ratio is like 1:2. I am only skeptical that I work hard and do not get paid for it.

Thanks again and appreciate your comments.

 

While Jefferies is a great firm If this was at the analyst level McKinsey by a light-year since it opens a TON more doors to PE, HBS, etc. However he is coming in as an associate and looking at either being a career banker or career consultant/work in management, with the tradeoff of better pay/worse hours at Jefferies vs worse pay/better hours/more travel at McKinsey. So it might not be a cut-and-dried question

 

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