| Topic Name: |
ibanking vs consulting |
| Message Name: |
we can agree on this... |
| Date Posted: |
03/19/2002 |
| In Reply To: |
Ken, I seem to usually agree with you on most things based on how we've responded to questions on this board, but this is one topic where I disagree with you.
First, based on my own experience, I got my own strat consulting position having worked at a well-known I-bank and I was told in the interview that they liked my i-bank experience and expertise.
But second and more importantly, I have also been on both sides of the table and maybe what we're discovering in this string is that it really just depends on who is screening and what firm we're talking about because when a resume said Goldman Sachs or Morgan Stanley, that name immediately caught my attention and I voted for giving them the interview. Sometimes someone believing they were slick got by without mentioning he was just some stock broker's lackey and that broker just happened to work at a merrill lynch retail branch (NOT i-banking), but most of the time we decided to interview them (especially the GS guys and girls). I know my colleagues used the same criteria as well.
I beleive if the I-Bank is tops on the league tables such as Goldman Sachs or Morgan Stanley (NOT SG Cowen or one of the 2nd tier), then you should go for the bank. If you're strongly considering the boutique firm, it had better have 200+ people working there or have some major Fortune 500 clients or I doubt MOST consultants will know of it. But as you can see, sometimes it just depends on who is screening and I believe you can guarantee that you'll be noticed if you have a reputable name, especially if the resume is screened electronically. |
| Message: |
Your points are valid and well-taken--that it varies with the firm and the individual screener. I would agree with you that if your offer is from a top (#1, 2, or 3 bank in the area you'll be in) and the consulting firm is absolutely no-name, the bank would be better. Just have a good reason for why you want to transition from banking to consulting, because it will come up in the interview.
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