stupid not to apply to CONSULTING?
Like everyone here, I want to work in ibanking for a bulge bracket firm. I'm trying to get an summer internship. Many people think both ibanking and consulting are prestigious thus they apply to both. I'm impressed with the big consulting names like Mckinsey, Bain, and BCG but I'd much rather do excel evaluations than come up with "strategies" for business problems.
My plan is to leverage all my resources into banking and just stick with that and not even bother wasting time preparing for consulting case studies. Is this stupid? Am I fcuked if I end up not getting a BB internship while blowing off consulting?
I'd focus on banking if thats really what you want to do. Be aware that valuation blows, and only seems fun until you actually start the job. It's easier to get a BB internship than a M/B/B internship. If you do a summer of BB banking and don't like it, but have good grades/extra currics, you can likely switch to M/B/B fulltime.
Maybe this is a better question to ask: Both ibanking and consulting are good jobs, but I'd much rather do ib than consulting. So my #1 priority is to get a BB job after graduation. Thus I'm going to spend much more time preparing for ib interviews than consulting case studies.
I'm trying to get a summer analyst job at the moment. My question is, incase I dont get a BB summer internship. Which would be a better choice? Hoping to get a good consulting internship or a MM ibanking summer analyst position?
If you intern at MBB, I guarantee you will get at least one BB interview, if not most that you apply for. Seriously.
I second boozer. I interned at MBB and basically got interviews everywhere I applied. Canceled the banking ones, did the other two firms and a couple of PE places. Went with MBB.
Thanks for the good response. I guess that rules out John Johnson's boutique ibanking firm in favor of MBB huh? How about lower down firms like Oliver Wylman, Monitor, Parthenon, etc. Are they still better than John Johnson IB Boutique?
The only reason I'm asking this is because I'd much rather take BB Ibanking than MBB Consulting but I'd take big name consulting over no-name small ib. And case studies take a long time to prepare. Thx for answering these stupid questions.
Coming from the inside, definitely not true. You have to be able to show a passion for finance in your resume. If you worked in consulting the summer before fulltime, better have some other finance stuff or a perfect resume beyond that.
Now if you are a rock star and have everything perfect on your resume, clearly this applies less to you. But I can tell summer MBBers do not necessariy get banking interviews.
I went to a target and firmly believe the whole "passion for finance" stuff is total BS. I saw basically every major, many people with only the Intro to Econ course, get finance interviews. The whole "interest" thing is really overblown. At my school, a lot of kids who didn't know what they wanted to do went into finance. I am sure it's true at other targets as well. Those who really cared and shaped themselves went onto GS/MS etc., others got interviews at everywhere else regardless.
I guess you have a better perspective on the inside, but from my experience on the outside, this is what I thought. Might be exclusive to my school, but I doubt it.
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