Introduction/Q&A
New monkey on the website. I've been reading WSO for a while however now a new contributing author. I just wanted to take the opportunity to introduce my self and open up a Q&A! Here is a quick overview of my background: * Consultant for a strategy/management consulting firm. * Previously interned at BB doing investment management. * Graduated in finance from a non-target. * Working towards the CFA level 1 exam in December. Thanks!
Did you actively choose pursuing a career strategy consulting over investment management and if so why?
Coming out of college I was not sure if investment management was the field I wanted to be in and did not want to pigeonhole my self. I felt consulting would be a better decision out of college as it provides an array of opportunities and skills. For example, exposure to different industries and clients, development of more soft skills, and ultimately more exit ops. Also, I felt at a more junior level, consulting would help develop a better business acumen since I am able to manage and see through various work streams that directly impact the bottom line.
Why go for the CFA when you're in consulting? Do you plan on moving back to investment management?
Yup, my thinking is the combination of the skills developed in strategy consulting and the CFA would serve as a great way to leverage my self into a buy-side position down the road.
MBB, or boutique/specialized firm. Comp? Hours? Single ;)
so u don't have any intern experience as a consultant? how was the interview going given your background?
I didn't have any intern experience as a consultant. However, I did prepare a good amount before my interview. I used "Case In Point" and basic Google searches regarding case interviews. I spoke to a few people in the firm as well to get an idea of how the interview would be. It was essentially working with higher level associates on various businesses cases and them evaluating your thought process throughout.
Thanks for starting this thread!
What are your hours in consulting?
I'm asking because I want to move to management consulting from IB but need to justify the pay cut so please shed some color on the hours one can expect to work in this field.
Well it's very dependent on the client. So I can't provide you with an accurate forecast of hours you will be potentially working. For me it ranges anywhere from 40-60 hours.
How did you break into both roles from a non-target -- could you give us a detailed version of what was your progression like?
For the internship at the BB, I had to make countless attempts to reach out to people within the industry and set up informational interviews. It was very difficult sometimes to get people to vouch for you however I was able to learn a great deal and also meet a good amount of people. So eventually I was able to secure a interview with a manager and then secure a position after a successful interview.
For the strategy consulting position, I had to search deep for people within the consulting industry. I also set up plenty of conversations with consultants to determine how to break in. A lot of the people I spoke to were happy with my investment management experience and it definitely helped spur some interests in the eye of the firms I applied for. Once I applied to more places, I was able to get a few interviews with consulting firms and finally two offers. I chose the one was a more relevant to strategy type work.
Pizza or sushi as an overtime food?
Sushi!
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