Bain & Company Goal is MBB one day. Have offer for Strategy Manager at Monitor Deloitte (exists in my region) and IB Analyst at Lazard (M&A). I have 5YOE from Accenture Strategy / boutique advisory shop. Leaning towards Deloitte as it’s a promotion and within the consulting industry, but appreciate MBB looks down on non MBB/T2 firms. Need advice! I also don’t have pedigree for MBB right now. Applied last year and got to final round for BB. McKinsey & Company Bain & Company Boston Consulting Group Deloitte
Seems like you’re casting a wide net. If you take IB, your perception of what is “prestigious” will skew to mega funds/private equity after the analyst stint. Point being, prestige changes based on industry. If you enjoy strategic work, why not stay on the consulting path?
Yea that’s my fear that I’ll be always chasing and never happy (only getting older with more responsibilities). This is why I am leaning towards consulting
Leaving consulting to eventually get back into consulting just doesn’t make sense to me. How do you tell this story in an interview with MBB in ~2 years? You wanted to work on even bigger/more complex strategy cases so you went to a different industry? I’m sure you can finesse this but that’s basically what it boils down to. I’m not tracking the logic here.
This is especially true given that you’re taking a step down. Would an IB analyst not coming from b-school even be considered for a consultant position, even with relevant YoE? I genuinely don’t know the answer as I can’t think of anyone in my MBB office with that type of background.
Moving into IB also doesn’t make you better at cases.
Also, does IB even interest you? What’s your long-term career goal?
Look, you got to final round at MBB, so you were really close. My advice is kick ass at Deloitte and stay in touch with your contacts at MBB and continue to network. Keep trying to make a lateral move (or even 1 step down) if MBB is that important to you.
Ok, yea I could buy that story. I still think the Deloitte route works better, but that seems workable.
One other thing to consider. Sorry to be a downer, but you should probably also take into account which of these two options’ exit opps are more appealing to you in the event that MBB doesn’t work out in ~2 years, which is a real risk.
That’s nothing on you, just the reality that this plan is at least somewhat dependent on MBB being willing to aggressively hire consultants outside of the normal B-school recruitment process. This year was likely a bit of an anomaly. There will always be room for good networkers but the hurdle might be higher in ~2 years. Plus there’s the actual interviews, which as you know have a luck component to them.
If the other exit opps from either of these two options really appeals/disinterests you then it might be worth taking into account unless you’re truly MBB or bust.
Best of luck whatever you choose!
5 years from now you’ll look back and realize MBB ain’t all that
Uhm, not true M2. A referral does not equal an interview. Far from it. Of the 10+ people in my network that I’ve referred (with some pretty impressive backgrounds), only 2 got interviews and 0 got offers.
And I disagree with M2’s initial comment. It’s not end all be all…but it’s been an incredible learning experience.
Pro
Personally wouldn’t take a drop from manager -> analyst just for a chance to get into MBB.
Right here
Option C: find a job that lets you be with your family / do the things you love outside of work
Pro
Take Deloitte
Interesting, even with 5 YOE in Accenture Strat? I would've thought with those YOE, would be good enough to get at least an interview. Maybe McK 🐠 can comment on this?
take IB
Chief
They’ll be miserable starting over as an analyst with 5 YOE…will get shit on by 24-year old associates for 80 hours a week (or even longer as LAZ is known as a sweatshop)
I was an analyst at an elite boutique (not Lazard) as well. Have been at McK for a number of years now. Think I can speak to both experiences.
Someone in this thread said summed it up quite well already: A lot of MBB folks will not appreciate non MBB consulting experience. On the other hand, my banking experience is seen as a pretty large asset.
However, please please please realize that if you take Lazard you will be miserable. McK is a cake walk compared to my time in banking.
If I were in your shoes…I’d only go the banking route if you want to get into PE/HF.
Understand. Am going to take my chances with Monitor due to the stage of life I’m currently at as a Deloitte partner path doesn’t sound too bad if I can’t do MBB.
If I was younger, I’d jump on Lazard.
Again, thank you for sharing your insight. Really appreciate it!
I’m curious, how’d you get an Analyst role at Lazard for IB with 5 YOE?
I see… I was a SA so technically moved back lol the experience is worth more to me
U get to put Ex-MBB on your linkedin after you leave...
You can go to MBB right now. Network and get amazing at cases. If you have questions you can message me. I was able to go from non-target to Mck
Actually I’d take Lazard, move to MBB once you make associate. It’ll be a lateral move.
Can you explain why? I am thinking potentially Lazard as I remember a candid conversation with an ex BCG partner who said they often look down on other non MBB firms doing “strategy” work. This led me to believe they are more interested in candidates with industry experience rather than consultants from other firms.
I do appreciate though that there is a greater deal of uncertainty with starting over at Lazard and no guarantee I’ll land MBB even though I was close getting to final round
Went from VP at a bank to (senior) associate at mck. I think it was worth it. Now, nearly 4 years later a junior partner with much broader skill set for whatever I do: becoming partner, going back to industry or starting sth on my own.
Does this mean that you had to spend one more year as an associate before being promoted to EM? So Associate, Em, EM, AP ? Did you make AP or become Partner in year 4?
If you became Partner, got any tips?
Why would you choose MBB over IB. MBB is a sales gimmick. Take IB; huge financial upside and honestly more impactful work (personal opinion; lot of MBB folks will disagree probably)
I’ve worked at JPMorgan in IB and at Bain, and I’d disagree on banking having more impactful work.
But bruh how'd you get lazard? I know some of my bois at UChicago rn that didn't even get it.
Adding to what BCG3 says, analyst roles are generally easy to interview for as they have lower expectations for the value you can add. Whereas Associate roles often requires greater focus on previous work exp, modeling capabilities (demonstrated through a modeling test), etc.
Lots to process in OP’s comments. You already went to final round once with Bain and BCG? That means you’re 100% qualified to interview, pedigree be damned. That concern is misplaced. And we take plenty of laterals from S&, ATK, or D. And yes we’re still hiring experienced people like mad.
So why no interview now? Well, if you didn’t pass then we generally have a firm requirement that you wait at least a full year before trying again. Could be more in other regions. That’s the most likely reason. Less likely but possible is that we do keep good notes on applicants and for everyone that doesn’t make it through we have a clear view of whether we hope they “bone up on cases and try again” or not. If you’re in the latter bucket then you may never get picked up for an interview again. But that’s not really all that common, and no you’re not going to get told which bucket you’re in so please don’t ask the recruiter.
If you go Lazard, I suspect you’re not coming back. Yes people come to MBB from IB but it’s rare and as stated elsewhere above consulting-banking-consulting is a very weird story to sell, and not one I’ve ever encountered myself.
So based on all that, I’d recommend take the promotion at Deloitte and try again for MBB in a year. Good luck.
Lazard. Has the biggest potential for income in the future.
Understand, but there’s other important factors aside from money. Made $700k in capital gains from the market this year (not meme stocks / crypto) so it’s not my only consideration
I’d take Lazard over MBB
OP - I came across this thread when searching for Monitor Deloitte. This is really interesting given the prestige/money/family trade-off. Could we have a ‘where are they now’ update? Do you think you made the right choice or will you give MBB another shot? Has your new team/role lived up to expectations? So many questions here! Thanks in advance