Banking CEO/MD jump

ExperiencedHire
Anonymous A asked on Sep 02, 2019

Hi all,

I have been MD / Director at 4 banks and would now like to jump to MBB. Is this possible? If so, would I go through the usual case-interview process?

Thank you

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Hi,

It is definitely possible, yes. The consultants come from different backgrounds and with different previous experiences.

You would also get through the "usual" case interview process. You could expect, though, to mainly have cases in your sector (bank in your case, if I understood correctly) and to have more difficult cases than the ones you would probably have had, being a newly graduated (e.g., more complicated numbers, more insightful analysis, more broad range of areas where to investigate, ...)

You can also expect to be offered the position of Associate Partner and no higher (I'm talking about McK here), due to the nature of "partnership" that exists in the firm. If you think that this could be the path you like, go for it!

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Anonymous A on Sep 02, 2019
Thank you, that's very kind. May I ask how much training a typical consultant gets in the case interview before partaking?

(edited)

Hi,

Late hires are quite rare in consulting. There are 2 options here:

  1. Being hired as an industry expert - high probability. It will be a research or industry practice track. However, the compensation and career track will be not as good / grow as fast as the generalist consulting track
  2. Being hired as a Manager / Principal level - low probability. You need a certain set of relevant skills. The probability is higher if you are in investment banking (i.e. have client management skills)

In the first option, it will be more the discussion about your skills and industry experience. In the second option, you are likely to have cases, but more narrowed down to structuring the team, planning the timeline and defining the deliverables.

Best!

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Anonymous A on Sep 02, 2019
Thank you Vlad. That's very kind. On another note, may I ask how much training a consultant gets on conducting case-interviews before being let loose?

(edited)

Hi are you interested in hiring an analyst before leaving your bank? Thanks a lot if you do :)

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Giulia gave the best answer

Giulia

McKinsey Business Analyst | 3+ years Experience | MBA at LBS
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