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Investment banking Analyst to consulting

IBD investment banking
New answer on Feb 22, 2021
12 Answers
9.8 k Views
Anonymous A asked on Feb 21, 2021

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!

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Sadik
Expert
replied on Feb 21, 2021
Ex M&A banker and Consultant at JP Morgan and Oliver Wyman

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.

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Raj
Expert
Content Creator
replied on Feb 21, 2021
FREE 15MIN CONSULTATION | #1 Strategy& / OW coach | >70 5* reviews |90% offers ⇨ prep-success.super.site | MENA, DE, UK

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.

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Florian
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Content Creator
replied on Feb 22, 2021
1300 5-star reviews across platforms | 500+ offers | Highest-rated case book on Amazon | Uni lecturer in US, Asia, EU

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

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Ken
Expert
replied on Feb 21, 2021
Ex-McKinsey final round interviewer | Executive Coach

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.

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Adi
Expert
Content Creator
replied on Feb 21, 2021
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience

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.

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Anonymous replied on Feb 21, 2021

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.

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Gaurav
Expert
Content Creator
replied on Feb 21, 2021
#1 MBB Coach(Placed 750+ in MBBs & 1250+ in Tier2)| The Only 360 coach(Ex-McKinsey + Certified Coach + Active recruiter)

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

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Ian
Expert
Content Creator
replied on Feb 21, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

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!

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Francesco
Expert
Content Creator
replied on Feb 22, 2021
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

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

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Antonello
Expert
Content Creator
replied on Feb 22, 2021
McKinsey | NASA | top 10 FT MBA professor for consulting interviews | 6+ years of coaching

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

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Clara
Expert
Content Creator
replied on Feb 22, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

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

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Denis
Expert
replied on Feb 22, 2021
Goldman Sachs Investment Banker NYC | Ex-Bain 5 yrs| MBA Chicago Booth | Passed > 13 MBB > 20 IB interviews

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

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Sadik gave the best answer

Sadik

Ex M&A banker and Consultant at JP Morgan and Oliver Wyman
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