How hard is it to be laterally hired as entry level at MBB?

Question

Hi everyone, I've been working at a top investment bank as a trader for about a year now. In college I thought that this would be my dream job, but I've started to see its downsides and do not feel this is the right fit for me as far as a long term career.

I spoke to alumni (attended a top US school) at MBB and have decided I am very into the idea of consulting. I am currently doing case prep outside of work to get better and be ready for any interviews. Since I am a year out of college though I do not know what timelines look like and if I can even apply as a Business Analyst or Associate Consultant (entry level) at MBB. On paper I have almost perfect grades and lots of brand names on my resume, but my role is not related to consulting even though it is at a top bank.

Can someone with my background apply to MBB? And what is the next step I should take? Would I have a good chance? And should I wait to get some more experience before I do it?

Answer 1

Yes your profile and credentials sound great. Remember consulting isn’t necessarily about hiring based on direct experience, but rather whether you have the intrinsics / smarts and drive to do well in a demanding environment where the problems you work on are complex and high stakes to the success of the client org.

There is an endless amount of resources online to help you prep, but investing in a coach / paid course will absolutely expedite your preparatory process and avoid non-capture of what will be a great career opportunity at a top firm.

Good luck!

Answer 2

Yes your background is great for MBB. At this point your best way is to network into the role by asking people to refer you (more senior the better). You would be hired as a first level BA/Analyst but outside the typical recruitment cycle.

How hard is it? Depends on the demand for talent. If hiring is slow and demand for consultants is low then it will be difficult. If there is a lot of demand for consultants you have a good shot.

Best,

Udayan

Answer 3

Hi there,

I think this is the same question as a couple of weeks ago.

In a nutshell:

Your background works well
You should follow the normal application journey/funnel
- Network with consultants for referrals and a live overview of the current market demand
- Polish your resume and cover letter
- Prepare for recruiting tests and games (e.g., Solve, Casey)
- Prepare for case and fit interviews (reach out for a tailored plan)
Overall this process should take around 2-3 months depending on how much time you can dedicate to prep. It can be expedited with a coach → reach out for help. :-)

Cheers,

Florian

Answer 4

Hi,

I first joined consulting in 2014. Since then, the trend for lateral hires has been increasing, for various reasons.

Your profile is relevant and you should apply. I don't think you need to wait to get more experience before applying.

All the best!