As a rule of thumb, at smaller firms you will get exposure to a more varied population of the client’s staff. Outside of MC the smaller the firm the more likely you are to mix with the senior management earlier in your career.
As someone that is not in MC but works with them as the client I would say that the junior MC staff get fantastic exposure to different industries, firms and cultures within an industry, great training and development and learn the importance of delivery to the client. They are also great names to have on the CV.
In Banking there is great demand for manager/senior manager level staff that either become disillusioned with the MC lifestyle or who are looking for a move into industry. This is assuming you have transferable skills (which most do). Even the advanced power point skills are highly prized.
If you go straight into a blue chip firm your early career is likely to be less structured and progression is much more your own responsibility. For instance few firms offer a career path where you get automatically promoted based on length of service combined with hitting performance targets.
Banking is full of great people that never get above £40K a year just because they are not as competitive or don’t seize the opportunities that come along.
I would recommend you start in MC if you can and enjoy it for the first few years and then evaluate if it still feels right for you. You have great exit routes from MC and the experience gained will be invaluable.
Your best exit routes will be:
Industry: Banking as well as other large industries.
Contracting: MCs make great contractors and their skills are valued highly.
We hire lots of MCs as contractors. Some recruiters I know search Linkedin looking for Accenture senior managers to link to so that they can see their network of colleagues to approach.
I would say top tip for any MC looking to get out is make sure you have joined Linkedin and have a network of thirty plus colleagues/friends.
Second tip: contact contractors and industry staff that you have worked with on projects at client sites once they have moved firms and let them know you are considering a move. (Best not to do this while they still work for your client as this does not go down too well and can put everyone in a difficult position).
I run a social network site for freelance contractors in the Banking industry and you could ask people on there for their experience of starting out in the work place. Many will have experience in MC, Industry perm and contract.
You will have to Google my name to find the social network because I am not sure whether you can blatantly plug things on here. (I am meeting Tony soon to check that sort of thing) It’s free of charge so hopefully you will not shoot me down in flames.