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Best way to MC: Engineering or 2nd tier IB

 
#1 Best way to MC: Engineering or 2nd tier IB
09/01/2008 07:38

Matilda

Hi everyone,

I am currently trying to decide which career path ot take, with the goal of ultimately ending up at a top tier MC company. Firstly, a little bit about myself. I have just graduated from an Australian university with a Eng/Accounting degree. I have graduated with first class honors in engineering and generally have a good average.

My career goal is to work for an MC firm in the future. I interviewed with AT Kearney, Deloitte and Accenture for their strategy consulting divisions but unfortunately was unsuccessful.

This now has left me with two main job offers. The first is a purely engineering role in Canon's R&D department. The second is is a finance role with a major Australian retail bank (NAB). The position is in nabCapital which is their corporate finance and institutional investment division. I would do a rotation through FX & Commodities trading, Finance and Institutional Banking. This is by no means an IB position, but the division is oriented at the higher end of town.

Now I am trying to decide which path might eventually take me into a MC career.

From a personal perspective I have a much greater interest in commerce than hardcore R&D engineering. But I'm afraid that the banking job I have been offered would be very heavy on documentation, compliance and other drudgery. So in that sense a job in R&D might be much more satisfying/interesting. Also this particular bank is not "prestigious" in any sense in Australia and is in a different league to traditional IBs.

The pay is comparable, but the hours will be a lot better in the engineering job. But I feel that the banking job will give me more relevant experience for the consulting world and might have better career progression. Also it might allow me to do an MBA down the track a bit more easily.

Any feedback would be greatly appreciated.

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#2 RE: Best way to MC: Engineering or 2nd tier IB
09/01/2008 11:22

Not a consultant to Matilda (#1)

I’m not a consultant so I’m not in a good position to advise you on the best way of getting in, but the banking job sounds like it is going to be much more relevant unless you want to go into some kind of engineering consulting. However, retail banking is a slippery slope that it is hard to get off…

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#3 RE: Best way to MC: Engineering or 2nd tier IB
09/01/2008 20:52

no to Not a consultant (#2)

Why do you want to get into a "top tier MC"?

Unless you got a poor degree grade, or got a very high degree grade but are just a studier, then its such a waste to have done a proper degree like engineering and then throw it in the bin and become a consultant.

You'd have been better off reading Powerpoint fi Dummies in three hours rather than wasting three years. It would have been a lot cheaper and more relevant to your career goals.

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#4 RE: Best way to MC: Engineering or 2nd tier IB
10/01/2008 23:44

Matilda to no (#3)

I wish McKinsey, et. al. hired with only having done "Powerpoint for Dummies". Anyway I was hoping to get some advice from people currently in MC.

I'm afraid that the banking job won't get me closer to MC, firstly because of a lack of name recognition of the bank and secondly because it might be too specialised (eg. FX trading).

The engineering job on the other hand is a top R&D job with a good possibility of undertaking a PhD later on. Although, I do have a greater interest in commerce rather then engineering research, I certainly have no interest in paper shuffling, which is what the banking job may involve initially.

What do you guys think?

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#5 RE: Best way to MC: Engineering or 2nd tier IB
15/01/2008 18:13

Literally to Matilda (#4)

Ask yourself, what do YOU want to do? What do YOU want to achieve in 5 years, say?

If you want to work in Finance, go for the banking role. If you want to work in R&D then go for the Engineering role. Simple. Stop procrastinating and do it.

In a recent study, major Consultancies are coming around to thinking (which is hard for them most of the time :)) that employing someone from industry with say 10 years experience would add value to their company. So the future is bright should you want to transition from Engineering, for example.

As a side note, nearly 1 in 10 Directors who sit on FTSE 250 companies have engineering degree.

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#6 RE: Best way to MC: Engineering or 2nd tier IB
17/01/2008 07:33

careerprofessional1 to Matilda (#1)

Hi,

I want to share something everyone who are interested in career goals with my experience the

website that advices the career that maths your CV(curriculum vitae) http://www.career-wise.com.au

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#7 RE: Best way to MC: Engineering or 2nd tier IB
19/01/2008 17:18

no to careerprofessional1 (#6)

"I wish McKinsey, et. al. hired with only having done "Powerpoint for Dummies".

You're right - they don't hire people only with "Powerpoint for Dummies". But they might as well do for the use they put their people too.

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