<p>A lot of people have been doing everything BUT answering the OP's question. I'm not here to ask you why it is you want to switch into banking/consulting. Who doesn't these days? If you're smart enough to be an engineer and you have decent interpersonal skills; I think banking/consulting is an excellent career to think about.</p>
<p>I myself, thanks to alumni connections from my college, have to talked to a few current executives at certain firms including citigroup and goldman. The people I specifically spoke with, were, as a matter of fact former engineers. They worked in the area for several years before transitioning into banking. Through my family, I also know someone who worked as a process design engineer for 5 years and he is an executive a chemical engineering company who decided not to choose banking. These people have conveyed to me what I am about to tell you.</p>
<p>As an engineer, you have a leg up on your GMAT's. People with quantitative skills just do better on the exams. Top MBA programs love engineers. As a matter of fact, the percentage of engineers at top MBA programs is quite astounding. A LOT of engineers get into top programs.</p>
<p>Grades become obsolete and MBA programs seldom look at grades unless your applying to an MBA program with little to no work experience (which is a bad idea and almost no one gets in with no work experience). It is important for you to understand that MBA programs care mostly about work experience and GMAT scores. Like in everything, exceptions are made they are rare.</p>
<p>Top MBA programs typically look for candidates anywhere between 4-6 years of experience. Your best bet is to work as a biomed. engineer for this amount of time, do well in your GMAT's and then you will get into a top 12 MBA program. </p>
<p>Hey, if you can handle engineering at GTECH, you can do this.</p>
<p>You don't have to get into a Harvard/Wharton/Sloan/Stanford/Columbia MBA program. There are many other excellent programs that aren't quite as competitive like Yale/Cornell/Tuck/Chicago (still competitive of course). Once you get into these MBA programs, as long as you don't screw up and take advantage of their excellent career services centers (and work on your interview skills), you should be able to start as an ASSOCIATE at an I-bank.</p>
<p>Starting of as an associate at a consulting company is more competitive.</p>
<p>So don't try and immediately break into the profession as a low level analyst. You can get in later through an MBA program which you have plenty of time to prepare from.</p>
<p>Good luck</p>