Career guidance

Hi there,

Wow! Impressive resume.

There’s a few things to unpick here, so let me try to deal with them in a logical flow:

Best path to MBB/T2

My view is that it’s via the TMT strategy firm (assuming it’s a strategy firm). Strategy and Ops are not the same, so you’re going to get a better transferable experience at the strategy firm. Operations consulting can often be code for implemenation, which I don’t think aligns with your goals. Plus, at TMT Strategy Co you’ll get to try your hand at some M&A/CDD work and potentially work with PE clients (who will be your future collegues hopefully).

Onwards to other exit ops post consulting

 You’ve listed a few exiting options here, but not all are on equal footing:

• Internal strategy – lots of opportunity to leave consulting for this role. Recruiters will reach out weekly.
• PE – to many this is the holy land. Opportunities are rare and you skill set will be good (but not great) for PE. Consultants don’t learn much about the transaction process (building LBO models, running transaction, negotiating transaction docs, …) but are very switched on post acquisition activities (strategy, growth plan, running down initiatives, …). You’ll be competing against investment bankers, who are the opposite in this regard. Arguably the IBers have a slight advantage of MCers here.
• IB – very few go from MC to IB. They’re just difference skill sets and knowledge domains. The only examples I can think of switched post business school, but even then its rare.

Other observations

• There is no reason you can’t join either firm and switch if/when your T2 oppty’s unfreeze. That’s a really good play.
• If you’re an Oxbridge engineering PhD then you’ve got the smarts for MBB, yet you didn’t get an interview there. That tells me that your application package wasn’t good enough and that’s an important insight for you to lean into. You’ll need to fix this ahead of any future opportunities. It’s really hard to stand out in these firms; at MBB the acceptance rate is <1%. Focus on refining your application package (CV, CL, career narrative, networking, …) because if you don’t you’re going to continue to stumble at the first stage gate and won’t proceed to the interview phase.

Hope that helps! Let me know if I can support you in the future.

B.

Hi there,

Q: What's the play to be made here? Work for one year at one of these firms and look for a lateral move to a T2/MBB? 

If you don’t have alternatives – yes, I would pick one of the two firms and then apply again.

To decide between the two I would consider the following:

• Where do you want to be in 5-10 years? Try to identify the company that can help you to achieve that goal faster. You can check LinkedIn for that (see below).
• If you consider the average consultant/partner you talked to in each company, which one would you rather be? You will spend a lot of time with your colleagues in the next years - be sure you choose a company where the people are close to the person you want to become.
• If money and prestige were not a consideration, which company would you choose? This could help you to identify additional elements to weigh you have not considered yet.

In terms of exits (for most people they are a very important factor in joining a consulting company), you can check them as follows:

1. Look for alumni of the two companies on LinkedIn.
2. Check how many moved to your preferred exits in your target region,
3. Normalize for the size of the companies in the region.

If you want to do extra due diligence, you can contact Alumni of your university (not current consultants) who worked for the possible alternatives (bonus if they worked for both). You will learn more in a 30-minute call with them than with any online research you might do.

Best,

Francesco

Given your background and the consulting offers you have, it seems like you have multiple paths you could take. Here are some considerations and potential strategies:

1. Consider the Prestigious Operational Consultancy:

Advantages:

• Reputation: A more prestigious firm may provide better opportunities for networking and career development.
• Strong Colleagues: Working with highly qualified colleagues can be intellectually stimulating and contribute to your professional growth.
• Strong Pay: Better compensation could be a significant factor.

Strategy:

• Join the prestigious operational consultancy and gain exposure to a broad range of projects.
• Network within the firm to understand potential pathways to strategy/deals/M&A work.

2. Keep Exploring T2 Opportunities:

Advantages:

• T2 firms often have a strong focus on strategy and may offer more direct paths to M&A and related work.
• Broader Network: Expanding your network with other T2 firms could open up additional opportunities.

Strategy:

• Continue with the ongoing processes with the two T2 firms. If you receive an offer, evaluate it in comparison to the operational consultancy.
• Leverage any new offers to negotiate terms with the operational consultancy.

3. Long-Term Strategy:

Advantages:

• Focus on building a strong foundation in consulting before making strategic moves.
• Consider staying with the operational consultancy for a year and then evaluate your options.

Strategy:

• Accept one of the current offers and gain experience in consulting.
• After a year, reassess your goals, network within the firm, and explore potential lateral moves or external opportunities in strategy/deals/M&A.

4. Networking and Skill Development:

Advantages:

• Networking and developing a strong skill set will position you well for future moves.

Strategy:

• Regardless of your initial choice, focus on networking both within your firm and externally.
• Work on developing skills relevant to strategy and M&A, even if your initial projects are more operational.

5. Open Doors for Future Moves:

Advantages:

• Gain experience and make strategic moves based on your career goals.

Strategy:

• Accept an offer that aligns best with your immediate priorities (prestige, colleagues, pay).
• Work diligently and demonstrate your capabilities.
• Stay informed about opportunities and be open to making strategic moves when the right chance arises.

Final Thoughts:

Choosing between offers is a personal decision that depends on your career goals, preferences, and the opportunities each offer presents. It's not uncommon for professionals to make lateral moves within the consulting industry to align better with their interests.

Consider the long-term trajectory you envision for your career, and choose the option that aligns best with your goals. Remember that each step in your career builds valuable experience, and there's often flexibility to make strategic moves later on. Good luck with your decision!

Hi there,

Nice work here!

Ultimately, you need to think through which role you will enjoy most in the present and which sets you up best for the future you want.

We don't quite have enough info here, and I'd highly advise meeting with a career/case coach for 30 minutes to make sure you make the right choice for your career.

Ultimately, your gut is telling you something, which, generally, is a good thing to trust.

Hi there,

congrats on the offers. In the current economic environment, you can't be too picky - we just have to kind of get through this phase of the cycle.

Also, you don't always have to already plan your exit before you even start. Go with the firm that appeals to you more right now. 

I would suggest to plan for gathering at least 2 years of work experience with this next job. If you then still feel like you want to give MBB/Tier 2 another shot (and you are still not tired of the day-to-day consulting grind) you will have a stronger value proposition for your application. The operational prowess might then be your entry ticket but you can always shift towards more strategy work when you are there.

Good luck

Absolutely. 

This is not a great year for job search. So take the best of what you got. Join the industry, accumulate experience and strengthen your value proposition. 

Then in 1-2 years, when the market is booming again, and they are hiring like crazy, make the lateral switch. Needless to say, you won't be the only one. It will be competitive then too, but at least there will be more options on the market.

Best,
Cristian

Hey,

What's the play to be made here? Work for one year at one of these firms and look for a lateral move to a T2/MBB? 

Yes. It's better to rack up some consulting experience in order to make your profile stronger before you reapply next year.

Besides, you may like working at one of those firms so much that you won't want to switch altogether. Who knows.

Good luck!
Nick