From an mba recruiting pov, would corp strategy be considered more favorable or less compared to other backgrounds in current hiring climate for IB?Considering going to bschool in a year or two.

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Will be received very well for IB imo. You might be lacking on the accounting/ finance side, but otherwise, your experience will be similar in nature to the bankers.

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As an MBA student looking at how IB recruiting went this past year at an M7 school, I would rank experience as seen below:
1. Direct M&A Experience: Corp Dev/PE/IB (golden ticket as long as you properly prepare interview responses)
2. Still direct finance/M&A Experience but bankers can be snobby towards: FDD consulting, valuation work, corporate finance (non M&A, usually FP&A or some other form of Financial Analyst jobs)
3. Relevant skills but not exactly finance: Corporate strategy, other forms of consulting (I will say that people from highly recognizable strategy shops like MBB/T2 are more valued here and bankers respect the grind in those shops so you’re more in the second tier)
4. Everyone else with irrelevant experience (your pre-MBA experience won’t really matter to the bankers during interviews since it’s not related)

While this is a general guide, I would like to really emphasize that your performance in interviews is the most important factor. If you perform well in interviews and you’re from the tier 1 pre MBA background, you’ll have a very easy time with recruiting, but that doesn’t mean you’ll automatically be hired over someone from tier 2 or even tier 4. I’ve seen people with Tier 4 experience get into top BBs/EBs. I have seen someone with Tier 1 experience end up in a weak MM team (this guy got too drunk at a recruiting event; word goes around). People in Tier 1 are familiar with IB and what it takes to recruit while people in Tier 4 underestimate the effort, particularly the level of financial knowledge needed for technicals, and I believe that is the main driver for the difference in outcomes. Most people going through recruiting will be from tiers 2-4. Not many people from Tier 1, so I wouldn’t worry about those people taking up all the best spots.

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Appreciate the reality check. Feel confident but also mindful of where I need to focus ahead of applying. Just hope the risk-reward pays off..

True corp strat yes. Everyone says they work in corp strat, but unless your comp pack is 225K+, it’s not corp strat.. at least for fortune 100

smartfunny

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