Switching Firms/MBA
Currently, I am a first year analyst at a well respected large consulting firm. It is a blended firm (think Deloitte, Accenture, etc.), not solely strategy. I have been working in the change management group. This is actually the type of consulting I want to continue with, but from a more strategic angle.
At this stage, I have several options. First, I could switch over to the strategy group of my current firm, which is much smaller and does more of the work I am interested in. However, they are not as good as the major strategy shops. Second, I could apply to several other strategy firms. With my job experience, they may be more willing to take me on. I did not go to a top undergrad, but made up for it in great grades and good interviews. Third, I could continue in my present role, and do a part-time MBA in a year or two? Finally, I could leave work in a year or two and go for a full-time MBA.
I know that in order to get to a more prestigous straetgy shop, I need to work for another year and get more exposure. However, I have some very good leads, which I owe mainly to my father who owns his own firm in the industry and has worked with many partners of these firms. So, the switch is quite possible.
I believe, a part time MBA would be beneficial since I can continue to advance and get an MBA under my belt. I don't plan on switching industries so a full time MBA seems like a less obvious choice. Would a top strategy shop (M/B/B, Katzenbach, Monitor, etc.) only be interested in me after an MBA or will they be attracted to industry experience and success?
Also, will the strategy shops want me to get a full time MBA regardless? Will they only recruit associates with MBA's as opposed to second year analysts coming from another firm? Also, if I am able to make the switch without an MBA next year, am I going to sacrifice rank (it is possible that I will be promoted to associate by the end of the year)?
I have been receiving different advice from different folks. I just thought I'd put this out there and gather some advice from consultants closer to my age.
What city are you located and what part-time MBA were you thinking of attending? Personally, I would avoid a part-time MBA at all costs since most top schools don't have part-time programs and a part-time MBA will definately limit your future opportunities. How will you make it to class if your traveling to a client site? The answer is you won't. You mentioned leaving work in a year or two to pursue a full-time MBA. Do you think that you'll make a good candidate and be accepted into the better MBA programs with only 2 years experience? As far as a lat move to a better firm, that might be possible although MBB would be very difficult. I think you should stick to what your doing for at least two years, consider taking an exit op for another 2 years, hit the MBA, and than seek a MBB type job.
I am currently working out of the New York City office. I agree with you advice on part time MBA's to an extent. However, my plan was to apply to both Northwestern and U Chicago (transferring to Chicago office in a year or two would not be difficult since my firm is good at accommodating these situations) and utilize their weekend programs. They have classes on Saturday and it would take around 2.5 years to complete. In addition, I get to utilize the same networking tools Full Timers use, only I am not available for the summer fellowships obviously. Both these programs are very respected in the consulting world. I do agree though that my choices are limited. And if it didn't work out there than I would avoid doing the PT MBA.
Regarding a full time MBA, is 2 years of professional experience not enough? I was under the impression that with good exposure, publications under my belt, and a clear advancement within my industry would be sufficient. What is the normal time period before people leave for an MBA? When do most MBB require there undergrad analysts to leave for MBA's? Also is an MBA a pre-req for an associate position at an MBB? Do they take on associates with good industry experience instead of an MBA?
Furthermore, do you think that I would be better off trying to switch over to the strategy group? It is more consistent with the work being done at the strategy shops. However, I may jeopardize a promotion to associate. In other words, I may have to start as a first year analyst in the strategy division. I could stay in my present group and continue to work hard and advance faster within my organization. Do you think an MBB and 2nd tier strategy shops would prefer more strategy experience in change management or advancement in my current operationally oriented change management group?
If you want to work in a top-tier strategy firm, do not do a part time MBA. That's all there is to say on it.
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