I am interested in moving from Banking to Consulting after a year as an Investment Banking analyst. How would this 1 year of experience be factored into my career progression at a consulting firm? Would I begin as a 1st-year analyst, and remain in the role for 3 years before a promotion, or is there a chance for an accelerated track? Does this differ between MBB?
Hi Anonymous,
At MBB you join the same level as any other university hire - one year IB is not substantial.
The 1 year as such is also irrelevant for any fast-track for promotion. What counts once you are inside is your actual performance on the job - in which your 1 year IB experience will support definitely and can help you to speed up career progression.
Hope this helps - if so, please give it a thumbs-up with the upvote button below!
Robert
With only 1-2 years of IB experience (and with no promotion), you would join at the entry analyst level. You may mind yourself being promoted faster than your peers (1.5 years) due to more business experience and maturity but it will not be factored into your progression.
Hi there,
I believe that, after 1 years as an Investment Banker, you would still join consulting firms at their entry level positions (Analyst for McK, Associate for BCG, Associate Consultant for Bain).
If you want to join in a more senior role, you will have to justify a minimum of 3-5 years of solid proefessional experience.
I hope this helps!
Mehdi
At McKinsey you would come in as a 1st year BA. The promotion would typically happen at the end of your 2nd year at McKinsey. If you are really good you can make EM directly or you can become a Senior Associate.
Best,
Udayan
Eventually, it is a judgement call that the recruiting team makes. This means you might push for it and if you're lucky they'll accept 1 year or banking experience as half a year in tenure bump. However, I wouldn't bank on this to happen. 1 year is really short and it might raise more questions on why you're leaving so quickly than it will give you credit in an offer decision.
Hi there,
Sorry but it really won't do much, especially since the skillsets are so different!
It's very likely you'd begin at entry level (i.e. analyst)
Hi,
Firstly, I suggest that you should get acquainted with the career ladders at MBB firms, they are quit different from IB.
Intern at BCG; BA intern at McK - promotion within 6 month
Junior Associate at BCG/ Business analyst at McK - promotion with 1 - 1,5 year
Associate at BCG/ Senior Business Analyst - promotion in 1,5 - 2 year, in exceptional cases - 1 year
Secondly, yes you will have to start from the very beginning of the career ladder as 1 year of IB experience would not count.
Best,
Anton
Hi there!
With your current experience, you can join at the entry-level.
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GB
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