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Expert with best answer

Sadik Cevik

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62 Q&A Upvotes

USD 149 / Coaching

12

Investment banking Analyst to consulting

Hi,

I'm currently an IBD analyst at a Bulge Bracket. I don't really enjoy the work and think consulting might be a better fit for what I am looking for (more strategy and ops rather than finance, valuation, and markets.) Do I have a decent shot of getting into MBB after say 2 years of IB (w/ rigorous prep?) In general, is the experienced hire to MBB route possible w/ out an MBA? And if so would I be starting from a completely entry level position or would I get ~1 year of tenure?

Thanks a lot!

Hi,

I'm currently an IBD analyst at a Bulge Bracket. I don't really enjoy the work and think consulting might be a better fit for what I am looking for (more strategy and ops rather than finance, valuation, and markets.) Do I have a decent shot of getting into MBB after say 2 years of IB (w/ rigorous prep?) In general, is the experienced hire to MBB route possible w/ out an MBA? And if so would I be starting from a completely entry level position or would I get ~1 year of tenure?

Thanks a lot!

Thanks for all the answers. Very helpful! — Anonymous A on Feb 21, 2021

12 answers

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Best Answer
Book a coaching with Sadik Cevik

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Hey!

I have personally made the step from Analyst II to Consultancy.

My reasoning was exactly the same to taste a bit more strategic and operational work rather than purely financed on modelling/valuation. Ultimately, it was a really great decision as I now work as Head of Strategy and Operations for a scale-up.

You have actually a great shot! Especially from Consultancy firms that do a lot of Corporate Finance work such as Bain & Company.

I was during my period interviewed by all Consultancy firms (McKinsey, Bain, BCG, Strategy&, Oliver Wyman etc.)

You don't necessarily have to lose your tenure. In my case I actually joined with my full Tenure (as an experienced Senior Consultant i.e. higher rank than Analyst 2). As they really appreciated the experience I brought with me from Banking. So it will ultimately all depend on the firm that you are applying to and the conversations that you have.

My suggestion would be to apply widely to all large Consultancy firms, if you have enough offers and leverage you will be able to negotiate a good starting position. I wouldn't waste 2 years of extremely hardwork in banking. You work so many hours, I am sure you will find a firm that will value the experience you have gotten during that period.

Hey!

I have personally made the step from Analyst II to Consultancy.

My reasoning was exactly the same to taste a bit more strategic and operational work rather than purely financed on modelling/valuation. Ultimately, it was a really great decision as I now work as Head of Strategy and Operations for a scale-up.

You have actually a great shot! Especially from Consultancy firms that do a lot of Corporate Finance work such as Bain & Company.

I was during my period interviewed by all Consultancy firms (McKinsey, Bain, BCG, Strategy&, Oliver Wyman etc.)

You don't necessarily have to lose your tenure. In my case I actually joined with my full Tenure (as an experienced Senior Consultant i.e. higher rank than Analyst 2). As they really appreciated the experience I brought with me from Banking. So it will ultimately all depend on the firm that you are applying to and the conversations that you have.

My suggestion would be to apply widely to all large Consultancy firms, if you have enough offers and leverage you will be able to negotiate a good starting position. I wouldn't waste 2 years of extremely hardwork in banking. You work so many hours, I am sure you will find a firm that will value the experience you have gotten during that period.

Book a coaching with Raj

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Absolutely possible as a lateral move, and you'll see on LinkedIn not unheard of. Usually, this tends to be Analysts (S&T or M&A) who have completed Analyst 2.

Anecdotally, the move wouldn't usually consider tenure if A1/2 and you would join as a new Associate with the grads. However, I know it is possible to negotiate a fast-track promotion to Senior Associate within 12months. This will demand on the firm, office and project pipeline.

The other route is joining as an experienced hire with 3yrs+ of experience and lateral moving as a Senior Associate.

Absolutely possible as a lateral move, and you'll see on LinkedIn not unheard of. Usually, this tends to be Analysts (S&T or M&A) who have completed Analyst 2.

Anecdotally, the move wouldn't usually consider tenure if A1/2 and you would join as a new Associate with the grads. However, I know it is possible to negotiate a fast-track promotion to Senior Associate within 12months. This will demand on the firm, office and project pipeline.

The other route is joining as an experienced hire with 3yrs+ of experience and lateral moving as a Senior Associate.

Book a coaching with Florian

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Hey there,

Without knowing too much about the rest of your resume, I'd take a chance here and argue that you would easily be able to make the transition from BB to MBB at this stage.

1. Focus on networking and getting a referral for different firms

2. Prepare your application documents (using a coach - budget should not be an issue here I guess)

3. Prepare for aptitude tests (see above)

4. Prepare for the interviews (see above)

I guess the biggest difficulty is finding time and energy next to your busy work schedule to practice for cases. Hence, I'd suggest maximizing your prep efforts with professional coaching.

Cheers,

Florian

Hey there,

Without knowing too much about the rest of your resume, I'd take a chance here and argue that you would easily be able to make the transition from BB to MBB at this stage.

1. Focus on networking and getting a referral for different firms

2. Prepare your application documents (using a coach - budget should not be an issue here I guess)

3. Prepare for aptitude tests (see above)

4. Prepare for the interviews (see above)

I guess the biggest difficulty is finding time and energy next to your busy work schedule to practice for cases. Hence, I'd suggest maximizing your prep efforts with professional coaching.

Cheers,

Florian

Book a coaching with Ken

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Agree with Henning. If you have a suitable pre-IBD profile then you would definitely be considered. Your tenure will depend on the firm and office but promotion will be fast enough and you will benefit from the flexibility of even if you started at an entry level.

Agree with Henning. If you have a suitable pre-IBD profile then you would definitely be considered. Your tenure will depend on the firm and office but promotion will be fast enough and you will benefit from the flexibility of even if you started at an entry level.

Book a coaching with Adi

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Yes very much possible. Put forward a strong application - cv, referrral. Prepare holistically for the interviews and you should be fine. If you smash the interviews you can leverage your full experience at IB and land at the right level otherwise they might bring you in at entry level.

Yes very much possible. Put forward a strong application - cv, referrral. Prepare holistically for the interviews and you should be fine. If you smash the interviews you can leverage your full experience at IB and land at the right level otherwise they might bring you in at entry level.

Book a coaching with Henning

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Hi A!

Yes, a move from IB to consulting is possible, as there is a strong overlap in the skillset. So yes, you have a decent shot at it if you prepare for the interviews well. This will be critical, as I understand the interview process is somewhat different in IB.

I would expect the tenure for MBB to take into consideration your previous experience. They are unlikely to account for the full two years, but you might expect 1 year.

Hi A!

Yes, a move from IB to consulting is possible, as there is a strong overlap in the skillset. So yes, you have a decent shot at it if you prepare for the interviews well. This will be critical, as I understand the interview process is somewhat different in IB.

I would expect the tenure for MBB to take into consideration your previous experience. They are unlikely to account for the full two years, but you might expect 1 year.

Book a coaching with Ian

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Hi there,

This is absoutely possible!

I recommend the following:

  1. Work hard to gain responsibilities and get promoted (twice, if possible). Showing progression in your role and exhibiting consulting-related skills will greatly improve your chances of passing the screening phase.
  2. Network pro-actively 6 months prior to your planned departure. The more you network, again the better your odds
  3. Expect better odds at finance-focused consultancies (e.g. Bain) and specialties within firms
  4. Consider an MBA to improve your odds (not necessary, but helps)

Good luck!

Hi there,

This is absoutely possible!

I recommend the following:

  1. Work hard to gain responsibilities and get promoted (twice, if possible). Showing progression in your role and exhibiting consulting-related skills will greatly improve your chances of passing the screening phase.
  2. Network pro-actively 6 months prior to your planned departure. The more you network, again the better your odds
  3. Expect better odds at finance-focused consultancies (e.g. Bain) and specialties within firms
  4. Consider an MBA to improve your odds (not necessary, but helps)

Good luck!

Book a coaching with Francesco

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Hi there,

Yes, you can move from IB to consulting - I helped a few people with the transition. You have two main options:

  1. Move after 2 years – you will join as Analyst (McK) / Associate (BCG, Bain). You should be able to negotiate at least 1 year tenure
  2. Move after 2 years + MBA – you will join as Associate (McK) / Consultant (BCG, Bain)

You may try option 1 first and if it fails go for option 2.

Best,

Francesco

Hi there,

Yes, you can move from IB to consulting - I helped a few people with the transition. You have two main options:

  1. Move after 2 years – you will join as Analyst (McK) / Associate (BCG, Bain). You should be able to negotiate at least 1 year tenure
  2. Move after 2 years + MBA – you will join as Associate (McK) / Consultant (BCG, Bain)

You may try option 1 first and if it fails go for option 2.

Best,

Francesco

Book a coaching with Gaurav

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Hi there,

yes, you can definitely get into consulting! Of course, it is possible without the MBA as an experienced hire.

As to the tenure - it will depend on the company, but it is leverageable.

Good luck there!

GB

Hi there,

yes, you can definitely get into consulting! Of course, it is possible without the MBA as an experienced hire.

As to the tenure - it will depend on the company, but it is leverageable.

Good luck there!

GB

Book a coaching with Clara

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Hello!

Two people in my class actually came from IB -had been there 1 year- and started as Analysts.

PM me if you want to further discuss it!

Cheers,

Clara

Hello!

Two people in my class actually came from IB -had been there 1 year- and started as Analysts.

PM me if you want to further discuss it!

Cheers,

Clara

Book a coaching with Antonello

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Hi, I confirm it's totally feasible. I've worked with several colleagues from IB in McKinsey and I have supported as a coach some candidates in the transition. Happy to chat to discuss on how I have worked for it.

Regarding the seniority, it depends on the negotiation. Senior BA/junior associate roles are feasible to be achieved with 2+ years of experience in IB

Best,
Antonello

Hi, I confirm it's totally feasible. I've worked with several colleagues from IB in McKinsey and I have supported as a coach some candidates in the transition. Happy to chat to discuss on how I have worked for it.

Regarding the seniority, it depends on the negotiation. Senior BA/junior associate roles are feasible to be achieved with 2+ years of experience in IB

Best,
Antonello

Book a coaching with Denis

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You have absolutely a good shot. MBB knows that you can work hard, put in the long hours without complaining, produce client-ready materials, and feel confident with numbers (which many people struggle with still a lot). Make sure to have a good transition story and frame it in a way that consulting is a step up in every way. Make sure to go through your past deals and understand the actual big-picture mechanisms that applied, value creation drivers, etc.

In case you dont get int now, consider PE (of course), or a MBA, then shoot for MBB again.

Best,
Denis

You have absolutely a good shot. MBB knows that you can work hard, put in the long hours without complaining, produce client-ready materials, and feel confident with numbers (which many people struggle with still a lot). Make sure to have a good transition story and frame it in a way that consulting is a step up in every way. Make sure to go through your past deals and understand the actual big-picture mechanisms that applied, value creation drivers, etc.

In case you dont get int now, consider PE (of course), or a MBA, then shoot for MBB again.

Best,
Denis