Pls help: M&A or McK CF for getting in IBD?

bell's picture
Rank: Chimp | 5

Currently working in a M&A house (not ibank) as Associate and got an offer for McK CF Associate. Since I'm looking to move to BB/2nd tier IBD Associate and wondering which path will give me a higher chance. (p.s. I don't have an MBA but 2-3 years of M&A experience).

Does anyone know whether there's successful cases which ppl from McK CF moved to BB/2nd tier IBD? (I only found there's many ex-IBD analysts moved to McK CF but not sure the other way round)

Also do they actually execute transactions (handling the negotiation and regulation stuffs) or only perform the management / strategy consulting things related to CF? and how's the working hours like in the team?

Heard the up/out policy is quite tough, any idea of how risky of being laid off? (I assume everyone in McK are smart which means the competition is very keen right?)

Thanks a lot in advance for the advices as I need to make up my mind soon. Thanks!

Comments (12)

Nov 16, 2010

they do not execute transactions

mostly due diligence
working hours are not that should just try to lateral to BB instead of taking one more step

Nov 16, 2010

Thanks. But BB usually only hire from other BB/top 2tier banks...i'm afraid very hard to get in from my current position, esp for Associate level.

Also I thought the due diligence things are usually done by the why CF hires so many ex-bankers who were more focused in deal execution? (coz usually the dd is outsourced to professional firms i.e MBB/ Big4/ Legal firms)

In term of working hours, what's the typical no. of hr per day?

Thanks a lot!

Nov 16, 2010

McK CF isn't an M&A group; they don't do execution. If you'd have trouble lateralling to a BB, you could always just try getting an MBA. McK CF is a great group, but you'd be leaving IB to move up in IB, which seems questionable.

Nov 16, 2010

Might just be me, but it seems surprising that you have the credentials to get into McKinsey CF and not to get into a lower-tier BB. I guess maybe McK is willing to recruit more widely than banks do, but McKinsey at least at the analyst level is more selective than lower-tier BBs

Nov 16, 2010


Nov 16, 2010

that's a really helpful post. care to clarify?

Nov 16, 2010

mck way more difficult to get into than most BBs at the analyst level in my opinion. only ones that compete are gs/ms...maybe jpm , having recruited in both industries.

Nov 16, 2010

Take the CF, there are some due diligence involved, but main focus is on value-added / strategy (unless you prefer DD work). That said, you are obviously going to need IB technicals. Also, from Associates and up it's more about soft skills as opposed to monkeying around with technicals. Consulting will give you better exposure to dealing with clients and managing team situations. Not sure about CF > BB (I'd imagine it's more than possible), but certain about CF > top PE placements. Besides, you can network with the lax hours, which will trump any background.

My $0.02.

Nov 16, 2010

From visiting some top B-schools, it seems pretty clear that MBB firms are more respected, and to an extent more coveted than most BB's.

Also, I would even argue that GS/MS recruiting is in a sense, easier than MBB. The reason why is the technicals for banking industry-wide are pretty easily picked up. It's more a matter of memorizing Vault, M&I, and the various guides out there. A big part of the interview, even from GS/MS/JPM is still the "fit".

On the other hand... you can not "fit" is a necessary, but definitely not sufficient condition for landing an MBB offer. The case studies are insane...

Nov 16, 2010

If you have a change to joing McK I would. I'd join them and work there a few years, then use that experience to get yourself into a top MBA. At a top MBA with McK on your resume, I'm sure you'll be able to get a spot in M&A after graduation.

Nov 17, 2010

Thanks all for the valuable advices.

I agreed that the case studies were tough but its something you could prepare for, for BB Associate, they really concern your actual "relevant" working experience (i.e. closure of any mega deals). McK concerns more on your personality/ analytical thinking, may be that's the reason why I got an offer from them but not BB.

Anyone know the working hour? I heard it's tougher than other teams. Also how difficult to survive there, will it be more competitive than BB?

Nov 18, 2010