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Money and future exit opportunities
Power, prestige, pay.
There are few functional roles, and arguably, companies, in business that enable late 20-somethings / early 30-somethings the ability to, for example, create an analysis and affiliated story that is used to influence a ~50-year-old F100 CEO to expand operations of his or her $100B+ globally recognized company, to a new country, and to then read about, in WSJ, the CEO’s official announcement of the expansion launch, affecting global economies, all while being paid well and having a rubber stamp of “I know my shit” on their resume.
Yep makes sense. I think we are all on the same page here. There’s some awesome work being done and experience to be had I’m sure, but I bet some people still gotta do stuff like travel to a warehouse or factory in the Midwest working on some less sexy gigs. Feels like MBA hopefuls watched house of lies and have a warped view of b-school based on their rosy glass view of consulting
I’m not in a position to contest perspectives from folks at MBB ... but my two cents is that “top” consulting firms are incredibly good at marketing themselves to the talent market. Consulting writ large is a generally valuable experience for talent looking for broad skills, and I’m sure MBB has the strongest brand in the marketplace for this experience. But is the marginal value added worth the time investment for OP or myself? Dubious. Before COVID I was contacted frequently for roles with teams that had a mix of former MBB, Big 4 etc.; my colleagues have exited to PE and FAANG, among other places, etc. Btw - when I was at a strategy boutique before D, former staff went to MBB before my time and didn’t look to be any position more “prestigious” than colleagues that left for exits w/o MBB in-between. I think the moral of story is that your individual values and circumstances will drive your destiny more so than some “firm-prestige formula.”
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Mentor
I agree that there’s a good amount of hype around it, but at the same time I’m having a hard time figuring out what to do as an alternative. I’m about to head to H/S from MBB and, since I don’t really have any interest in finance, don’t really know what career options would be objectively more prestigious/lucrative. Actually would be grateful for suggestions of you guys have any.
But pay-wise, banking, consulting, investment management, and PE are the highest
D I don’t think you’re wrong in your view. I went to a T10 school and almost all (non-sponsored) consultants pre-MBA did not go back to consulting. The exception were a few people coming from specialized firms (eg healthcare consulting) who wanted to go for MBB.
People who did consulting recruiting had industry background (eg marketing, HR, LDPs), military, or non-profit/TFA. Almost all consultants did tech, CPG, or finance (mostly IB).
What was the most common focus for people with a consulting background? Finance?
Other companies use MBB as their hiring filter for top candidates. If MBB thought you were great enough to hire, your future career is life on easy mode. Those company names carry weight. It’s the same concept of aiming for FAANG.
Not sure I would agree with “obsession” or “fairy tale view.” It mostly comes down to better pay / exits / promotion opportunities, which are pretty pragmatic reasons for choosing a firm. Most people (especially those who do their research) also understand that MBB often leads to more hours / stress and most work there won’t be sexy. It’s not a fairy tale career by any means, though MBB is usually worth the tradeoffs if someone has decided to pursue consulting.
Mentor
I’m under the impression it gives me a range of options for exit (eventually into management) and keeps your career progression rapid. Am I wrong?
When your worst case scenario outcome is exiting to a middle management gig at a respectful corporation, you have it pretty great.
Subject Expert
I also think that people choose it cause its a career that allows you to pay back your MBA debt fast.