Two years Consulting and lost --> Next Step? (IBD,ER,NonProfit)

thegreen's picture
Rank: Baboon | 101

TL;DR - Current Consultant looking to switch into finance reaching out

Monkeys-

Just finished my second year at a Management & Strategy Consulting shop and I am looking at making the transition. I always wanted to do IBD but was guided into the consulting world instead after hearing from mentors that were working in their respective field. I do not regret my choice after undergrad but I now am looking for a new challenge and want to get into the finance world. I wanted to lean on the community for recommendations on how to get into IBD as well as if that is the right choice.

I know there are many of these forum posts on here (which I have combed through) but I feel I have not gotten the ironed out answer I am looking for. I believe I am directionally going in the right path with regards to reaching out to my network and using all prep materials I can get my hands on (WSP, R&P, etc) but I wanted to see if anyone has specifically done this recently. From the posts I have read it seems I would have to consider getting on a TAS team first somewhere else or wait until post MBA.

I am mainly interested in IBD as most of my friends went into it post undergrad(or credit funds) and like where they are at now(PE, HF, StartUps). These are the of exit opps I would like which I believe IBD can open the door for. I also understand and am fully willing to start as an entry level as well as move cities.

  1. Have any of you switched from consulting into finance and what was the path?
  2. What specific roles would be a good stepping stone (or lasting career) between consulting and finance (or Banking specifically)?
  3. Will headhunters be able to open doors for these FO roles or will I have to rely on cold calling / my network for a lateral?
  4. What are non corp fin jobs that are becoming a top exit opps for consultants?
  5. What are the risks involved with switching jobs in case I end up deciding the next one is not for me therefore decide to apply for my MBA? (Inconsistency? , Prestige?,)

Comments (10)

Jul 19, 2017

If you're at a top shop, I think you'll get looks. Bumping for other opinions.
BTW, what industry did you cover?

Jul 19, 2017

Health Care. Is there a best general time-period for banks looking for laterals? Does it differ for a boutique since I assume it depends with deal flow and if anyone leaves. I would assume around this time would be great because they are losing interns but at the same time campus hires are not sure how much they really need to replace interns.

Jul 19, 2017

just go T10 MBA

then IB associate

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Jul 19, 2017

Would it be more beneficial to switch jobs to something with more relevant experience or better to stick around another year for MBA apps? If so, I have some Due Diligence experience but as projects change I could easily be staffed to a strategy or PM project next.

Thanks for the responses in advance

Jul 19, 2017
thegreen:

Would it be more beneficial to switch jobs to something with more relevant experience or better to stick around another year for MBA apps? If so, I have some Due Diligence experience but as projects change I could easily be staffed to a strategy or PM project next.

Thanks for the responses in advance

S&C Management Consulting is good experience. You should be fine. No need to change.

I'm not saying its going to be a cakewalk, but work hard to get into a good school and the IBs should recruit you there.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Jul 22, 2017

The IB recruiting process is pretty structured - they fill their seats with campus hires from UG and MBAs. Do the MBA then IB unless you're okay taking a step back in your career (would you be okay coming into IB as a Y1 analyst? cas that's most likely where they'd put you).

I'm surprised you didn't mention PE, which is hard from consulting but more common than consulting -> IB.

Jul 26, 2017

I would be fine taking a step back in my career but from what I have been told from my contacts at banks is that I would be coming in as a Y2 analyst. Do you believe this is not the case and it would more likely be as a Y1?

I would love to recruit for PE but my friend who just recently moved jobs was told from headhunters that most of those firms will not even take the interview unless you are coming from banking.

Do you think having a different job in between consulting and a MBA would affect my chances at 1.getting into a top MBA program and/or 2. recruiting for an associate position post MBA?

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Jul 26, 2017
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