| Topic Name: |
I-Banking AND Consulting before MBA? |
| Message Name: |
Thanks - Reaction |
| Date Posted: |
02/15/2006 |
| In Reply To: |
You should consider posting this message on the Investment Banking board. You'll probably get more responses (although, your thread may also get derailed into some sort of insult-fest.)
Anyway, my suggestion is to not be so quick to throw away your IB experience...unless you're going to PE; in which case it will be many of the same skills. The point I am trying to make is that your concern should be less about the "Adcom" viewing you as a quitter and more about the fact that you have ALREADY gotten into the madness of being an Analyst, why not just finish the 2 year program??? You have a long career ahead of you. Don't be so quick to declare yourself as having finance and accounting skills and skip to the next thing. You don't risk being viewed negatively by the Adcom, rather, you are simply throwing away a component of your skill set that could be regarded positively in the future....especially in consulting. Finish your 2 year program!! It is the hallmark of an entry-level Wall Streeter. (with the obvious exception being that you resign after 1 year to go to KKR.) The next opp. will still be there in a year.
My other question is: Do you have an offer or a well-designed strategy to get a job in consulting? It is not going to be very easy to just ship your resume over to McKinsey, Bain, BCG, Booz Allen, Mercer, Monitor, etc. You better have something figured out or you might be in for a surprise. |
| Message: |
Thanks for the words of encouragement for finishing the 2-year analyst stint. I do feel a slight personal tug to just finish the 2nd year. I mean what's one year in a 20+ year business career? Plus I do like the group of bankers I'm working with, so it's not like it's hell and I'm desperate to get out.
It's just that if I don't lateral to consulting after my 1st year, I'm not sure it'll make much sense to do so after my 2nd year (as outlined in my previous post - no career progression, time to get DTA, etc). So it'll be a question of whether I can personally delay the gratification of working at a consulting firm for five years, when I graduate from b-school.
What do you guys think? Given that I plan on being an Associate after b-school, would you recommend that I get a different experience (PE / Corp Dev) after banking instead of consulting? Do you really think there are decreasing marginal returns as an Associate at McKinsey if you've already been a BA?
Question about offer: I did have a McKinsey (Generalist BA), but I obviously had to turn it down. I'm not sure what McKinsey's policy/process is regarding hiring laterals from banking as BAs, and particularly those who've previously received offers. Does any McKinsey insider have any insight regarding this situation?
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