Option 1: Banking -> MBA -> Consulting OR Option 2: Banking -> Consulting -> MBA

Finishing up my 2nd year as an IB analyst in NYC at a solid shop. I know I want to switch to consulting, and I know I want to get my MBA. Should I stay in banking a couple more years then get an MBA and go into consulting after (option 1)? Or should I lateral to consulting now, before getting an MBA (option 2).

Options 1 Pros:
- Make more money in the near term as an associate in IB (Associate promotion this summer)
- Continue with a lifestyle I am very happy and comfortable in

Option 2 Pros:
- Potential for consulting firm to sponsor my MBA (saves money + pressure of landing a job afterwards)
- Start my career in consulting earlier

 

Hey Analyst 2 in IB - Cov, what a lonely thread. I'm here since nobody responded ...so maybe one of these discussions will help:

  • MBA Options
  • Is MBA Admissions Consulting Worth it and Who are Good Options?
  • MBA Consultants?
  • MBA Consultants?
  • MBA Admission Consultants for Top 3 MBA?
  • MBA Consulting?
  • Weighing Options: MSF, MBA and Europe to US

More suggestions...

I hope those threads give you a bit more insight.

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

Sed maxime fugiat et. Explicabo praesentium aut provident recusandae necessitatibus. Facilis voluptates unde in quis omnis dolores aut. Earum maxime ea dolor repellendus voluptates eos.

Career Advancement Opportunities

May 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Overall Employee Satisfaction

May 2024 Consulting

  • Bain & Company 99.4%
  • Cornerstone Research 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • McKinsey and Co 97.7%
  • Oliver Wyman 97.2%

Professional Growth Opportunities

May 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Total Avg Compensation

May 2024 Consulting

  • Partner (4) $368
  • Principal (25) $277
  • Director/MD (55) $270
  • Vice President (47) $246
  • Engagement Manager (100) $226
  • Manager (153) $170
  • 2nd Year Associate (158) $140
  • Senior Consultant (331) $130
  • 3rd+ Year Associate (108) $130
  • Consultant (588) $119
  • 1st Year Associate (539) $119
  • NA (15) $119
  • 3rd+ Year Analyst (146) $115
  • Engineer (6) $114
  • 2nd Year Analyst (345) $103
  • Associate Consultant (166) $98
  • 1st Year Analyst (1050) $87
  • Intern/Summer Associate (190) $83
  • Intern/Summer Analyst (552) $67
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”