Looking for advice on switching careers from consulting to IB
I’m currently a Manager (M2 level) in management consulting and contemplating a switch to investment banking. My experience started at a Big Four firm in audit, after which I earned my CPA and joined their M&A advisory team.
This IB role would likely require me to step down in title, possibly coming back as a Senior Analyst since positions for experienced hires are scarce in my area. I’m curious if this is a sensible move for my career or if it’s foolish to drop from Manager to Analyst.
Has anyone gone through a similar change? Do you see value in my consulting background, or would you consider those years wasted if I had to begin again at a lower level? While the pay and opportunities in IB are attractive, I’m having doubts about the title change.
I’d really appreciate hearing from people who have gone through such transitions or those who can share how consulting experience is viewed in banking roles.
Made the same jump about three years back - Big Four transaction services to IB at a slightly different level. The title drop definitely hurt my ego at first, but the learning curve and deal flow were worth it. Your M&A advisory experience isn’t wasted - you’ve got the analytical foundation and client skills most analysts don’t have. Banking works differently than consulting though, so expect an adjustment period with modeling intensity and hours. I’d push hard for that Associate spot, especially with your CPA. Don’t sell yourself short just because you’re switching industries.
Your M&A advisory background is actually a huge advantage for breaking into investment banking. Banks love candidates with real deal experience, and you already understand transaction mechanics from the consulting side. Yeah, stepping down in title sucks, but it’s usually temporary. I’ve seen people in similar situations get promoted to VP within 18-24 months once they prove themselves. Push for an Associate role instead of Senior Analyst - your client-facing skills and execution experience should get you there. Plus that CPA will help big time with due diligence work, especially at boutiques that really value consulting backgrounds.