I’m a US citizen with 5 years of experience in audit, currently living in NY. I’m aiming to get into consulting, either MBB or Tier-2 firms. Do you think it’s worth applying for an MBA, or should I just start preparing on my own and focus on networking to break into consulting?

I always recommend starting with the end in mind and carefully considering if an MBA aligns with your specific goals. Let's break this down:

1. Career Goals: You aim to transition into consulting, ideally at MBB (McKinsey, Bain, BCG) or Tier 2 firms. This is a common and achievable goal for many MBA graduates.

2. Current Background: Five years in audit provides a solid foundation in analytical skills, attention to detail, and understanding of business operations. While it's a bit specialized, consultancies often hire from audit backgrounds.

3. MBA Value Add: An MBA can be extremely valuable for your goals for several reasons:
- It provides a broader business education to complement your specialized audit experience
- Top MBA programs have strong recruiting pipelines to consulting firms
- The MBA allows you to reset your career narrative and gain relevant experiences through internships, projects, etc.
- Networking opportunities are abundant, both with firms and alumni in consulting

4. Consulting Firm Prospects:
- MBB: While challenging, it's not impossible. These firms do hire from audit backgrounds, especially if complemented by a top MBA. Your success will depend on your overall profile, MBA performance, and interview skills.
- Tier 2 Firms: You would likely be very competitive here. Firms like Deloitte, PwC, EY, KPMG would value your audit background combined with an MBA.
- Specialized Consulting: Given your audit background, you might be particularly well-suited for risk consulting, financial advisory, or operations consulting roles.

5. Alternatives to MBA:
- Self-study and networking can work, but it's a much harder path, especially for MBB.

Recommendation:
Given your goals, an MBA would be worth considering, especially if you can get into a top program with strong consulting recruitment. It would significantly boost your chances of breaking into consulting, especially at the more prestigious firms.

Next steps:
1. Research MBA programs with strong consulting placement records
2. Start preparing for the GMAT/GRE
3. Reach out to alumni from target schools who've made the audit to consulting transition
4. Consider attending MBA fairs or info sessions to learn more

Remember, the "best" school isn't always the highest ranked, but the one that best supports your specific goals. Look for programs with strong consulting clubs, relevant coursework, and a track record of placing graduates in your target firms.

The market is tough right now, but there are definitely opportunities. I don’t think an MBA would help you that much, especially when you consider the return on investment of an expensive MBA program.

In your position, I’d focus heavily on networking and find a strong case mentor who can guide you to success. From recent updates, I’ve heard The Thinksters and High Bridge Academy have excellent case prep programs. Then there are platforms for self-prep like RocketBlocks and Crafting Cases, but their results seem weaker in my opinion.

Also, I’d recommend applying not just to MBB but also to boutique consulting firms to increase your chances.

Good luck