Adrian I recommend the Big 4 offer, and here's a controversial view - you will have more, and better, exit options. MBB are pushing down (primarily into operational consulting but some other stuff too) in Europe where 'pure strat' is being dislodged as a consultancy offering by the prevalence of clients with their own MBAs, and out - into developing markets in the Middle East, Africa, LatAm etc, where what they are peddalling is still relatively new and strategy as a product makes sense. The post recessionary Europe will be more pragmatic - there are no new ships floating on rising tides now,nor will there be for many years to come. Growth will be inorganic as companies reduce expansionary risk through acquisition rather than market entry. Big 4 will remain just as they are - but probably facing getting broken up, as the regulators see too much monopolisation in them especially in audit but also now in consulting. This will create a lot of movement in Big 4 and real opportunities for the bright and the focused to break through into senior roles, but the watchword will be pragmatism - something Big 4 do well, and MBB cannot even spell. Well they can, they just dont like the word.The point being that Big 4 experience is increasingly taking precedence - it is seen as directly applicable and 'real world' - whereas the MBB route shapes you into a 'strategist' which the European market may not be interested in for the next 5 years at least. Unless of course you leave MBB too soon and spend the next 5 years explaining to people that you chose to leave (and if you last less than 3 years we will all be thinking you were culled on performance even if you werent).