Hey there,

1. Most definitely!

2. That could be the only roadblock, especially with the current hiring environment. Most firms have significantly reduced hiring already and it won't get any better soon.

3. It is. For MBB, you are talking on average 60-hour weeks.

My advice would be to reach out to your network at the firms you want to work for and get the ball rolling to get a feel for your current chances and the hiring situation.

All the best!

Cheers,

Florian

Hi there,

1) Is my background suitable for consulting, particularly MBB, without doing an MBA? (4 YOE + a masters degree from a distinguished school in Europe).

Yes. However they may ask to spend some time as analyst before moving to a post-MBA position, depending on the country/company for which you apply.

A referral would definitely help, you can check more on that below:

▶ How to Get an MBB Invitation

2) I'm not a European citizen and am still not over the threshold of a residence in the UK. How does that affect my chances?

Do you have working rights if you change job? If not, this could be an issue for some firms.

3) Is the grass greener on the other side? Of course I know better than to think Consulting, especially MBB, will be a paradise in terms of work-life-balance; however, is it at least incrementally better than IB?

In theory yes, you should work less in consulting. In practice, it also depends on the project (with due diligence you would still work a lot).

Good luck!

Francesco

Hello,

1. Is my background suitable for consulting, particularly MBB, without doing an MBA? (4 YOE + a masters degree from a distinguished school in Europe).

• Yes! It is definitely suitable for consulting and many have made the switch

3. Is the grass greener on the other side? Of course I know better than to think Consulting, especially MBB, will be a paradise in terms of work-life-balance; however, is it at least incrementally better than IB? (the comparison baseline at the moment is 75-80 hours weekly)

• WLB is generally better
• 75-80 hours in consulting is not implausible but this typically tends to be in developing markets or places where WLB culture is not the norm
• There are other trade-offs and differences to consider (aside from salary)
  • Consulting has more WLB control - in banking the project process is fixed and not totally under your control (e.g. subject to exchange rules)
  • If you like doing the same thing over and over again, banking is better. Consulting iterates on approach a lot more and is more variable on this aspect
  • At a senior level, consulting projects are easier to sell, so there would be higher longevity (relatively) vs M&A 

Note: One of my closest friends is at MBB and was previously M&A at a BB, so credit goes to her for the points above on #3

Hi there,

I questions your decision to move into consulting for work-life balance. Consulting does not have work-life balance! (That said, it is generally “better” than IB…depending on the region).

1. Is my background suitable for consulting, particularly MBB, without doing an MBA? (4 YOE + a masters degree from a distinguished school in Europe).

Yes. Make sure to network

2. I'm not a European citizen and am still not over the threshold of a residence in the UK. How does that affect my chances?

Yes.

From networking you'll see which places you still stand a chance at. For those that you don't, consider other countries/offices (if you're open to moving)

3. Is the grass greener on the other side? Of course I know better than to think Consulting, especially MBB, will be a paradise in terms of work-life-balance; however, is it at least incrementally better than IB? (the comparison baseline at the moment is 75-80 hours weekly)

Yes and no. It's better than IB, but it's still a lot of work and stress. If it helps, most Bankers/Lawyers I knew at BCG commented on how it was better than where they came from.

I'm sorry that it's so brutal for you at the moment - it's not fun at all! 

To answer your questions directly:

1. Yes, your background is very suitable. You can absolutely apply without an MBA - each of the firms will offer you a slightly different role but generally you can enter between an analyst and an associate (where you tend to need an MBA). 

2. MBB will do what they can to give you a work visa in the UK - don't let this worry you. As long as you're able to get a visa (which it sounds like you are as you're currently working in the UK), you'll be fine. It's a bit different in other countries - for example, in the USA whether you get a visa or not is a lottery and so MBB is becoming less willing to take the risk. 

3. The grass may be somewhat greener. As a benchmark - if you're working 10 hours a day you're doing well, 12 hours is normal, 14 or more is bad. Weekends though are generally protected and you are not expected to work over them. This will, however, vary between projects and sectors - but the hours can still be quite tough. 

Good luck!

During my BCG interview process, I spoke with an ex-banker at a bulge bracket who was exactly like you.

They mentioned that:

• There are a few people who move from Banking to Consulting. There are some great transferrable skills
• The work life balance is definitely incrementally better.

UK residency is not a necessary conditions for being accepted.

Hello!

Your profile is super attractive for consulting, and your skills will be put to use from minute 1, which would let you progress very fast. Back in Mck, there were a few people coming from IB, so I know for sure it's something “looked for”. Regarding the VISA question, it will depend on where you want to be. 

Hope it helps!

Cheers, 

Clara

The short answer is - yes absolutely your background works well especially if you choose to join the PE practice where your modeling skills will be highly valued. 

For visa - it should not be an issue as the consulting firm will transfer over the visa/sponsor you and it will not impact your UK PR timelines

For whether the grass is greener - absolutely not from a work life balance perspective. It is even worse if you factor in travel Monday to Thursday every single week for a lot of projects which adds work hours and also takes away from any potential savings from an hours worked perspective. This is not a career to switch to for work life balance.