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Sales and Trading Analyst to MBB Consulting

MBB
New answer on Jun 17, 2024
6 Answers
142 Views
Anonymous A asked on Jun 12, 2024

Hi everyone,

 

I am close to the end of my first year as a sales and trading analyst at a top bulge bracket (Goldman / Morgan Stanley / JPM). I have realized over the past year that markets do not interest me as much as I had first thought in college, and am interested instead in switching consulting. 

 

I am thinking of applying to MBB as I have a lot of friends and alumni at these firms. I also interned at a boutique consulting firm earlier in college. I attended a T10 undergrad and have an almost 4.0 GPA as well.

 

I understand I will have to have a good story to switch and show applicable skills but I am more interested to learn if this switch is one that has been done before and when I should apply if at all. Thank you.

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Francesco
Expert
Content Creator
replied on Jun 12, 2024
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

Hi there, 

Q: I am more interested to learn if this switch is one that has been done before and when I should apply if at all

Based on what you shared, you can definitely apply. You have a strong profile and the switch from banking to consulting is possible - I have personally helped several candidates who made the transition. I would recommend leveraging your network to land a referral so that you can increase your chances of an invitation.

The only downside is that most likely they will not recognize full seniority in terms of your work experience and possibly none at all. 

Good luck!

Francesco

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Anonymous A on Jun 12, 2024

Hi Francesco, Thank you for the feedback. I am wondering if you know if there is a particular month or time frame when I should apply as an experienced hire when MBB recruits the most. I have already begun networking for referrals. Thank you!

Francesco on Jun 13, 2024

Hi there, given the current situation, I believe the best thing to do is to ask the person who will refer you. Some offices are currently not recruiting much due to a lack of projects, the best way to clarify this is by speaking with the people working in the offices you are targeting. Good luck!

Cristian
Expert
Content Creator
replied on Jun 12, 2024
#1 rated MBB & McKinsey Coach

Absolutely. 

I've had several candidates transitioning from IB to consulting. It's quite a common path in that sense, mostly because the majority of students from top unis go for one of the two and often realise that they didn't end up in the one they were meant for. 

The great thing is that your background now helps a lot in positioning you as a top candidate for consulting (good brands on your CV, lots of transferable skills, etc.)

Do reach out with questions if you need some extra help. 

And sharing here also a guide on how to put together an application strategy for consulting:

Expert Guide: Build A Winning Application Strategy

Best,
Cristian

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Anonymous A on Jun 12, 2024

Hi Cristian, Thank you for the feedback. Is it a problem in your opinion to apply with only a year of experience as I have right now? Also what month of the year would it be best to apply as a lateral hire for MBB? Thank you.

Florian
Expert
Content Creator
replied on Jun 12, 2024
1300 5-star reviews across platforms | 500+ offers | Highest-rated case book on Amazon | Uni lecturer in US, Asia, EU

Hi there,

It's much easier than you think. 

Give that you are very early in your career, this move would not raise any eyebrows nor would you need to defend it during the application or interviews.

Highlight why consulting is the better fit for you, e.g., work with individual organizations not markets, impact and learning curve at an early age, qualitative elements of work, <enter everithing else that applies to you.>

You shoudl then run through the normal recruiting process:

  1. Network for the referral - seems like you have that sorted through your connections
  2. Polish your application documents
  3. Recruitment test prep
  4. Case and fit prep

Reach out if you need help!

All the best,

Florian

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Udayan
Expert
Content Creator
replied on Jun 12, 2024
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

Yes I have worked with someone who made the exact same switch, the slight difference being that the market was a lot healthier for consulting back then. 

Your background is great and you genuinely have a good shot. Like I mentioned earlier, the hiring for consulting roles is not the same as prior years so you will need to really get some strong referrals in order to be considered for interviews. You can't apply as a graduate hire anymore so will most likely be asked to apply via the experienced hire route 

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Hagen
Expert
Content Creator
replied on Jun 13, 2024
#1 recommended coach | >95% success rate | most experience in consulting, interviewing, and coaching

Hi there,

First of all, congratulations on your career trajectory thus far!

I would be happy to share my thoughts on your situation:

  • First of all, switching from banking to consulting is definitely more common than you might think.
  • Moreover, depending on your location, you should consider specific application periods, but otherwise I would advise you to apply as soon as you have polished your application files and have a strong referral.

If you would like a more detailed discussion on how to best prepare your applications, please don't hesitate to contact me directly.

Best,

Hagen

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Pedro
Expert
replied on Jun 17, 2024
Bain | EY-Parthenon | Private Equity | Market Estimates | Fit Interview

I don't see a reason why you would not apply, and not be successful (based on your profile). There's nothing particularly negative in your background, and it is a good profile. 

Sure, you are switching careers… but consulting firms see that the whole time. It's old news to them :)

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Francesco gave the best answer

Francesco

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