Best answer
Sadik Expert
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.
Was this answer helpful?
23
Book a coaching
Florian Expert Content Creator
#1 rated McKinsey Coach | Top MBB Coach | 5 years @ McKinsey | Author of the 1% | 120+ McK offers in 18 months
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
Was this answer helpful?
17
Book a coaching
Raj Expert Content Creator
Strategy&| ex-interviewer | 170+ coached over career |95% success @ MBB, S&, RB, LEK, OW, Big4 [SUCCESS STORIES BELOW]
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.
Was this answer helpful?
17
Book a coaching
Ken Expert
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.
Was this answer helpful?
14
Book a coaching
Adi Expert Content Creator
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.
Was this answer helpful?
14
Book a coaching
Henning Expert
Bain | passed >15 MBB interviews as a candidate
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.
Was this answer helpful?
14
Book a coaching
Gaurav Expert Content Creator
Ex-Mckinsey|Certified Career Coach |Placed 500+ candidates at MBB & other consultancies
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
Was this answer helpful?
10
Book a coaching
Ian Expert Content Creator
MBB | 100% personal interview success rate (8/8) and 95% candidate success rate | Personalized interview prep
Hi there,
This is absoutely possible!
I recommend the following:
- 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.
- Network pro-actively 6 months prior to your planned departure. The more you network, again the better your odds
- Expect better odds at finance-focused consultancies (e.g. Bain) and specialties within firms
- Consider an MBA to improve your odds (not necessary, but helps)
Good luck!
Was this answer helpful?
10
Book a coaching
Francesco Expert Content Creator
#1 Coach for Sessions (4.000+) | 1.500+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 9Y+ Coaching
Hi there,
Yes, you can move from IB to consulting - I helped a few people with the transition. You have two main options:
- Move after 2 years – you will join as Analyst (McK) / Associate (BCG, Bain). You should be able to negotiate at least 1 year tenure
- 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
Was this answer helpful?
9
Book a coaching
Antonello Expert Content Creator
McKinsey | MBA professor for consulting interviews
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
Was this answer helpful?
8
Book a coaching
Clara Expert Content Creator
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
Was this answer helpful?
7
Book a coaching
Denis Expert
Ex-Bain 5 yrs | Goldman Sachs Investment Banker NYC | 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
Was this answer helpful?
6
Book a coaching