Hi everyone, I've worked in investment banking for 4 years now and decided to move into consulting. Interviewed with 2 MBBs and a number of Tier 2 firms and only have 2 Tier 2 firm offers in hand. For both MBBs I made it to finals and based on feedback it was close, but I would need to wait for 1 - 1.5 years to re-apply. Given my end goal is to join one of the MBB firms, would it make sense for me to move into a Tier 2 firm and re-apply, or would it be better if I remained in investment banking and just re-applied? Given I have not worked in the industry, I am unable to tell how closely work at a Tier 2 firm would mirror that of the MBBs, which is a key decision factor. For more context I'm in a top Tier 2 IB at the moment. Would be keen to hear your thoughts!
Best way into MBB
To be honest, I don't believe it matters regarding your objective to join MBB. You have been invited by them and you know that you have to wait about 18 months to re-apply. I don't believe either option will swing your probability of success - the critical lever will be your preparation for the interviews, so that next time around you can kill the beast! ;)
PErsonally, I would probably stay in IB to reduce the number of variables in my life in order to concentrate on my end goal.
Unless next year has a promotion in store for you, with 4 years under your belt in IB I would move to the tier 2 consulting and then re-apply from there. Reason why is that one or more years in IB won't diversify your experience enough to become a more attractive candidate for the consulting firms.
Hope ti helps,
First of all, I would keep it in the Top IB since you will have a better brand and some career progress on your resume
Secondly, need to show some changes / achievements in your profile in order to reapply successfully:
- Career progression
- Remarkable projects
- Extracurricular activities
- New skills obtained
The couple reasons why Tier 2 may be better
- You'll have more time to prepare for case interviews
- You may get some industry expertise relevant to your country