Need Advice: Consulting to Finance (London)
Hi WSO folks,
Hope you're all doing well. I'm posting as i could use some advice on how I should think about a move from consulting to finance.
I'm turning 27 soon and have 5y experience in consulting, having worked in a boutique firm and MBB in London. But I've reached a point where the endless slide iteration and waffley analysis have become increasingly unfulfilling. I really don't see a future in this industry, especially as the role becomes less analytically interesting and more process-y / operations focused once you start progressing.
I've been thinking more and more about pivoting to finance / markets. I feel like the analytical nature of the work would bring me much more fulfilment than process slides and frameworks - tbh, analysis is my favourite part of consulting cases but it's too far and few between. I've been thinking about the MFin at LBS and I'm also looking to complete the CFA (I've done L1 & 2 exams previously). My experience at the boutique was gave me a lot of exposure to infrastructure (Inc. financial modelling and analysis), so that's another area I'd be interested in pursuing further. I've basically identified a few potential paths and I'd really appreciate advice from anyone here with experience in them how best to break in and what to expect / whether I'm being unrealistic about the nature of work:
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Development finance focused on infrastructure with organizations like the WB/IFC, EBRD, or BII
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General infrastructure finance (sell or buy side, e.g. Structuring, project finance, corporate finance)
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Asset management (equity or credit portfolio mgmt)
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Macro research departments in IBs / AM (I have a background in econ but might have to do msc/PhD rather than Mfin)
In addition to analytical / intellectually interesting work , I'm also trying to optimise for a somewhat sustainable lifestyle (<=55 hours a week, which discounts PE/IBD) and staying in London.
Tbh, I'd sincerely just appreciate any input / push back / advice from people with experience in the areas above. If anyone's up for it in London, I'd also really value a coffee chat if that works.
Thanks all,
ConfusedMBBMonkey
Firstly, apologies to barge in with a slightly off-piste suggestion, as it's not clearly in your preferred list (maybe it falls under #2). But have you considered MM / LMM private equity, potentially focusing on infrastructure but not necessarily.
I've come across quite a few examples of PEs which like a mix of consultants among their investment teams. These are often smaller shops which don't outsource a lot of their outside-in due diligence to 3rd parties, and like people with an MBB / general consulting background. I think before you sink a lot of time and money into a Master's degree, it might be worth speaking to some recruiters (keeping in mind that the market is tough right now generally). There's a ton of threads on this forum speaking to the who's who of UK PE recruiters.
As an afterthought, but an important one, consider also the Portfolio teams of larger funds too - if you've MBB experience, your profile might attract a good amount of attention.
It's not for everyone (some strongly prefer the investment side), but the Portfolio teams almost by nature like to have a good proportion of consultants in their mix, and you'll see a lot less of "endless slide iteration and waffley analysis" because your employer actually wants you to operationally change a company, and will want to hear real (bad) news / insights
Thanks man, really appreciate it!
I'd been considering PE, which is one of the reasons why i moved to MBB. I found DDs to be interesting, but also super intense. And everything I read about the buyside just makes it sound even more intense (I was reading this thread the other day and it freaked me out likehttps://www.wallstreetoasis.com/forum/private-equity/worse-than-IB)
I just don't think I'm cut for that life. And operations teams are probs a no go too - hours would be better and less stressful, but I just don't find operations work interesting anymore. I dunno if I'm being too picky, but I was hoping Mfin or MBA might help me find a role that's interesting but not crazy stressful. I don't want boatloads of money - tbh my MBB salary is more than enough for me to live the life I want at this stage.
But really appreciate all your input - I will get in touch with PE recruiters. I've heard some shops are better than others, and maybe an infra PE would tick a few of the boxes I'm looking for.
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