Where I should intern to get a full-time at MBB
I am currently a junior at a state school. I want to work full time at either McKinsey, Bain, or BCG. I wanted to know what internships would look the best when applying full time. I have an internship this summer at a tech consulting firm. What else can I be doing to increase my chances at MBB?
Other info:
Fairly good GPA (~3.8)
Community Service/Leadership Experience
Ive seen lots of people do investment banking internships at BBs, also Big 4 accounting internships in areas more relevant to consulting.
Well it's not like you have another internship option, do you?
Keep your GPA up. Get an offer from your summer internship. Network when companies come back on campus or reach out to an alum at each firm's office which handles your school's recruiting to get the ball rolling. Would recommend sometime towards the end of internship and before school starts.
I was thinking about trying to work PT at a bank with a great brand value cold calling. Would that help at all? I am just worried it's too late to do what MBB typically go for, especially since i go to a non target school. The company I am going to intern for is a really big consulting firm (mainly tech, but they have other divisions)
I don't think it would help to get a PT job. Name brand tech consulting internship is helpful enough to read well on a resume.
Given you're at a non-target, you'll need to invest more heavily in networking to get your foot in the door. Your best chance is with the local MBB office.
For your benefit - and for future readers in a similar situation - this is extremely hard to evaluate in a vacuum. Here are some factors that might influence how much work you need to put in and how realistic your applications to MBB or other top-tier consulting firms are:
(1) What school and major? A 3.8 in mechanical engineering from Cal-Berkeley/Michigan/UVA is very impressive; a 3.8 in English from (insert generic state school here) is actually very poor. If the firm's review team happens to read application materials closely, the difficulty level of classes will matter too: it would be one thing to have a 3.8 in Econ having taken easy intro and applied classes and another entirely to have taken the mathematically intense sequences with advanced econometrics.
(2) What kind of tech consulting are we talking about? Is this cutting edge digital capabilities development, top-level IT op model design, or very low-level staff augmentation? Review teams will look at the individual responsibilities and projects you're involved in for not just your junior internship but for all work experiences as well.
(3) What kind of leadership experience are we talking about? Are you driving major improvements in the way your university's career center is run, on the exec team of a nonprofit, or putting in just 20 hours per year of generic volunteering through your sorority? Review teams will examine not just the titles you hold in groups that you're involved in but also what you did in those extracurriculars.
Hopefully, you're starting to see the common theme here - besides the superficial statistics and brand names, what you've actually done matters the most, and you ideally should have shown leadership and ownership in multiple scenarios for each of the three buckets I've laid out above. So if you're weak in an area, search for opportunities to get more responsibility and make an impact wherever it is that you are. If you're strong in an area, keep it up and see how you can take it to the next level.
I totally get what you mean. I am just trying to find different ways to get involved even more, but it's fairly late in the game. I am a rising senior and I have to apply for full time positions at MBB during August/September.
Let me know if you have any suggestions on what else I could be doing this summer other than focusing on my internship and preparing for the case interview.
Feel free to ping me if you'd like more specific advice - probably easier that way.
No, cold calling for the financial advising division of a large bank (i.e. Morgan Stanley) isn't going to impress anyone. Like what others have said, you are better off killing it at your internship and getting an offer and spend the rest of your free time practicing for case interviews.
Finance Internship to get Full-Time Consulting (Originally Posted: 10/12/2017)
I was wondering what would look best on a resume for a junior year internship in order to go back and get a full-time consulting job.
My first option is Investment Banking at RBC in New York and the second option is Private Wealth Management at Goldman Sachs in Dallas. I can't tell which one would be better - for example, will the skills gained in investment banking supersede the Goldman name or vice versa? Any input would be great.
Do you think just that is enough though? It seems as if everyone else is doing something bigger and better. It's hard not to compare
The question is - even if "everyone else is doing something bigger and better," can you do that? Will doing that guarantee your chances of an interview/offer? No and no. Like others have said, it's hard to predict in a vacuum. Do your best to be the very best that you can be.
.
RBC. Goldman name might have better overall prestige but wealth management skills doesn't translate well to consulting whereas investment banking skills do. I know of MBB consultants who interned at investment banks junior year before joining their consulting firms, don't know any who did wealth management prior.
Honestly I don't think it makes a huge difference. Either way you are getting some "name brand" experience. Most of consulting recruiting (especially for the top firms) is: 1. Have you networked enough to get in the door and have your name passed around 2. Do you kill the case studies 3. Are you personable enough to pass "fit"
Especially from UG they don't care too much about past experience, they want to teach you the "insert firm name" way. Once again, this applies to top firms (especially MBB) most strongly. In my recruiting, I talked for a cumulative maybe 5 minutes about my past experience per firm throughout all of the rounds.
From my experience, having 1 brand name internship is enough to solidify someone as a potential candidate. The best thing you can do to get the interview is network and the best thing you can do to get the job is practice cases.
Junior Summer internship to full time consulting (Originally Posted: 02/14/2014)
Target school but not sure about internship
OW. Not even a close contest
FO/BO summer internships to translate to FT consulting (Originally Posted: 09/22/2016)
hey guys, I'm a junior at a target going through recruiting right now. I'm aiming for a consulting internship, but that seems unlikely given how competitive it is and how few juniors actually get hired since consulting heavily recruits for FT instead of summer internships. My backup plan is to apply to banks. Since I had a boutique ibanking experience, I'd go for ibanking again. I'm also interested in more finance type divisions like the JPM Finance Analyst Program, I think I'll enjoy it more. The problem is it's regarded as a BO role, and I dont know if that'll hurt me when it comes time next year when I recruit for consulting FT. Will the brand name JPM at least mitigate the fact that it's non FO? I'm thinking of applying to both divisions at JPM, but I'm afraid that'll raise a red flag. Thoughts?
I know that your investment banking experience was at a boutique, but that still looks much better than doing a non-FO role, even if that role is at a firm like JPM. I spent a summer at BB in a Finance/Treasury role and it was miserable. Although I used Excel a lot and learned quite a bit of information on how banks operate internally, it left me with very few transferable skills aside from Excel. I don't see how a role like that would help you for consulting when you have many other people your age competing for the same jobs, but with better internship experience. Also, during that summer, I met zero people from target schools in that division of the bank.
"I think I'll enjoy it more" -- you say that now, but that will only hold true if you like aimlessly browsing the web in your free time at work. And trust me, you will have a lot of free time.
No, it doesn't really matter. BO/MO at a bank only has negative implications for all the people shooting for investment banking positions. I met a guy that worked in FP&A at JPM and now works for Deloitte S&O.
Looks like we have different opinions here, anyone want to chime in? I thought finance roles wouldn't be bad because they're more toward like corporate finance and I heard consulting companies like corporate finance.
I did back office IB for 5 years...when I was applying for consulting in business school it wasn't an impediment. I can't imagine it'd be a huge issue for undergrad recruiting. Assuming you have a good GPA and go to a good school, it'll check the box and it'll come down to your case performance.
I don't think most consultants on the recruiting team would know the real difference between front and back office roles for it to matter. I know I didn't when I was culling undergrad resumes.
Also look at consumer marketing. A lot of consulting case studies and client problems are heavily focused around market entry/positioning problems, and being able to at least speak to those means you understand the basic ideas involved in CPG/Retail strategy.
I think I'm going to apply to both the IB division and finance division at BB banks. It's common consensus on WOS that it's not recommended to apply to multiple divisions, but usually the debate is between S&T vs IB. Do you think applying to these different divisions will hurt my chances?
Want to get ft MBB after grad, which internship should i take? (Originally Posted: 03/31/2013)
Bit of background: I’m a junior at a European university (let’s call it a semi-target, located in one of the English-speaking, European countries), majoring in management information systems. My ultimate goal is a full time position at one of the MBB consulting firms. I’m also considering doing an msc in operational science. Even though I failed to secure a summer mbb offer, I secured three other offers:
• KPMG TAS • Deloitte Consulting S&O • Skype Business Operations
Both KPMG and Deloitte are in the country where my uni is. Skype is in Luxembourg. My question is: which one of the three positions above would be most impressive to recruiters at MBB? I have sort of ruled out kpmg, and the most obvious choice is Deloitte, but Skype is kind of unique. Any thoughts monkeys?
My interpretation of the three offers are the same as yours.
Deloitte S&O >>>>>> KPMG TAS
No input on Skype Business Operations. Might be an interesting gig, maybe some other monkeys will have some insights. Deloitte S&O has a good reputation here in the states though and are at-least a solid Tier 2 firm.
Deloitte
Thanks for the input guys. The only thing that excites me about the Skype internship is its uniqueness (haven't met many people with this sort of experience). The Luxembourg thing is both a pro and a con tbh.
Deloitte for sure. You'll have a solid tier 2 offer at the end of the summer (most likely anyway), which easily beats the "coolness" factor of Skype for me.
Looking only at future MBB prospects, Deloitte. Assuming you don't mess up, then you'd have a great Tier 2 firm offer. If you think you'd be happier at Skype, then it could be worth it for you personally (rather than professionally).
Go with Skype, Deloitte S&O prospective hires are a dime a dozen at undergrad level. If you think the work at Skype will be interesting and meaningful, go with it. I'd perk up more at Skype than at Deloitte S&O during resume screening for sure.
Thanks for all the replies. I still have a few days to make the decision, but it looks like I'll be at deloitte this summer. Thanks again
This is a tougher question than I think most people here think... in the US, it would no question be Deloitte if you want to do consulting - S&O is pretty competitive and right below the MBB. However, I've heard that Deloitte's S&O practice is significantly less competitive (and smaller?) in Europe. For instance, while they've expanded their Strategy vertical significantly with the acquisition of Monitor, they didn't take anyone from Monitor Europe.
Interestingly, Skype's HQ are in Luxembourg, which means you'll be at the center of the action and might be doing some pretty cool stuff. Plus you will have strong networking opportunities being in the HQ, and the start-up/laid-back work culture that you won't get in consulting. Still, it's hard to turn down a guaranteed job in MC if that's what you want to do..
The Deloitte office where I got the offer is pretty small and would be more operations than strategy. At the same time, there is a much higher chance of getting a return offer at Deloitte. I'm not even sure if skype give grad offers to their interns.
Do you have to intern at MBB before working there full-time? (Originally Posted: 02/10/2017)
Have a pretty good background and getting the cold feet on banking. Think I stand a good chance with the consulting crowd but am curious to know if it's too late.
No.
No. But if you are a student, consider that OCR happens at specific times and MBB doesn't really hire outside of that window for FT or internships.
This. Also consider that while MBB are expanding their internship programs, they are still focused on FT recruiting, unlike investment banks who largely fill their start classes with summers.
No, dont think so.
No, but you'll want to focus on getting an internship if you are able to.
Junior PWM Internship to Full-Time MBB? (Originally Posted: 02/22/2018)
Hi everyone!
Brand new to WSO :) How easy would it be to transition from junior PWM internships to full-time MBB? I have an offer from BAML SF and hope to get into MBB SF full-time, preferably Bain.
More background: 1) Junior, Target school, 3.7/4.0 GPA, Economics with some on-campus consulting experience 2) Previous 2 summers: Economics Research w/ Professor and Data Analytics in China 3) Interviewed with Bain for ACI but didn't make it past first round - did well on first case but messed up the math and communication on second case (feedback was I needed more practice with communication, pacing myself, and obviously math; they liked my energy and structuring/logic) 4) Didn't get interviews with BCG/Bain; BCG called me and said they wanted a more name brand internship 5) Only current offer is from BAML SF 6) Live in the Bay and have some connections in both the SF and NY offices 7) Planning to do some Spring internships with data science
Any help is appreciated! Cheers
pieog, hey, look at the bright side, at least you didn't get a ton of monkey shit thrown at you...here is my best guess on threads that might be helpful:
Maybe one of our professional members will share their wisdom: HBShopeful2k16 Motty-Perel rbinns03
Fingers crossed that one of those helps you.
Murky internship into full-time consulting recruiting? (Originally Posted: 02/22/2013)
Hey everyone,
Looking for some advice/perspective on my situation... I went straight from undergrad into the military and from the military to a top 20 (twenty, no typo) MBA program. It's my first year and I just finished internship recruiting (my prospects aren't so good right now). I'm still sorting out my goals, but getting into a good consulting firm for full-time recruiting is high on my priority list.
I just got an internship offer at a top tier firm in HR consulting, BUT, it's actually an undergrad entry-level internship, their equivalent of analyst. Their stated reason is that they like me, but aren't sure about my lack of experience in formal HR. They also stated that they only take 1 MBA-level intern in that office per summer, but more entry-levels, so it was allegedly also a slotting issue. My initial reaction is that this offer sounds kind of fishy.
So I have two main things I wanted to get your insights on:
1) What's your take on the offer? Are they just trying to get cheaper summer labor?
2) How would a "brand name" management consulting firm see this on my resume if I did take it? With all the different titles between consulting firms, unless the official title is something obvious like "Analyst," would they just assume it was an MBA position? How poorly would this reflect on me?
Thanks in advance.
-MJ
They were genuine with you and essentially said they need to feel you out before committing to you due to your lack of experience (fair or not.)
Can't answer this one specifically but no internship will always looks worse.
Eventual goal MBB FT, which Internship to accept? (Originally Posted: 03/04/2013)
Hey Guys,
Another one of these what do I accept posts, but I need some help here. So I have offers for a F500 in a corporate strategy role (in Washington DC), a economic consulting offer (NYC), and will probably have a buy-side HF offer.
I'm aiming for MBB FT, so my goal is to set myself up the best way I can to get interviews come FT recruiting. I know the F500 or economic consulting role would be best, but am having a hard time deciding between the two.
Honestly you should pick the one you would enjoy the most and that depends on your personal criteria (pay, location, type of work, etc).
Both sound like great options, and as long as you have a good GPA, good standardized test scores, and good networking skills you will be able to swing a FT interview with either internship on your resume. Previous work experience is not THAT important for consulting interviews - they care more about how smart you are, how you think, and your fit with the firm. Additionally if you pick the one you will enjoy the most, your enthusiasm will show during your interview for consulting.
My intuition would say F500 corp strategy. If I were in your shoes, I would take the HF offer though.
If your'e dead-set on consulting for FT, F500 corp strategy.
question: would a summer internship at a top group in banking (think GS TMT etc) help with FT MBB? or would they be more like ehh why don't you go back to banking?
It would help a lot. If you can't spin an ibanking internship then you won't be a good consultant. Just say how you liked the analytic side of investment banking but really feel drawn to the corporate strategy and operational aspects of business that drive valuations. Learn to love 'spin'.
gotcha thanks Matthias. I'm guessing though I would have to secure an offer from my banking summer internship in order to be desirable to MBB, right?
also, are the MBB recruiters aware/do they care about the "top" groups on the street as opposed to whatever?
Don't over think things like this. Most likely the recruiter won't really know. Knowledge among the people that you are interviewing with will vary depend on their past experiences.
Economic Consulting or F500 - depending on the brand name. NERA/Cornerstone versus Mutual of Omaha Insurance (F500) - go for NERA/Cornerstone. If the F500 is Apple/IBM/P&G etc. (big brand name + generally considered prestigious), go for F500.
I would also look at two other things -
(1) Read Glassdoor reviews and/or talk to others from your school who've interned at both places in the past. You want a place that gives your responsibility/interesting work to put on your resume and talk about during your interviews.
(2) Pick a place you wouldn't mind going back to if fall recruiting doesn't turn out the way you want it to. Having a back-up helps with the nerves during the FT season - and it helps. A LOT.
Picking an internship based on what future value it will hold during an MBB interview is pointless. If you are having trouble deciding that means there isn't that big of a prestige/difficulty difference between them. Just do the one you will like the most.
Many people interview with and get offers from MBB with absolutely no prior work experience. A high GPA and high standardized test scores will help A LOT in getting an interview. If you don't have that, then marginal differences in your past internship experience won't help you nearly as much as networking.
Also consultingboi is on point. Pick a place where you wouldn't mind being at fulltime.
Consulting Internships in line to full time MBB after Graduation (Originally Posted: 04/18/2012)
I am a Sophomore majoring in Industrial Engineering at the Number 1 Program in the country and am interning with Deloitte Consulting's Sophomore Scholar Program this summer. This program is highly competitive and selective, and I am very excited with the opportunity!
Looking ahead, what types of internships should I be aiming for if I would like to begin full time recruitment at Bain, McKinsey, BCG, etc. in my senior year (2014) for a full time Associate Consultant's role?
Please advise, thank you!
Would appreciate any advice & tips, thank you!
Mckinsey takes one or two junior intens from your school, shoot for that. High gpa and do something cool/involved in a club.
Of course, that is on my radar, but that is INCREDIBLY selective! Other than MBB, any other options that I should be on the lookout for?
i summered at deloitte my sophomore year also in the same program...honestly, the only difference is that i makes getting interviews easier...once you get in, pretty much everything resets and the case trumps mostly everything, but i do think that getting interviews was a lot easier having that on the resume...if you have at least like a 3.5-3.6 (though maybe less for an engineering school), having that on the resume will get you an interview to almost every firm
Thanks for the info! Are you interning with a consulting firm this summer? That's what everyone keeps saying, that having the Deloitte SS on my resume with description of my work will make it a lot easier to get an interview with MBB and other firms..!
To what extent is getting a full-time consulting offer dependent on third-year internships? (Originally Posted: 02/16/2013)
Hey! I'm interested in mainly ibanking and later getting into private equity or hedge funds, but I'm also open to consulting. I'm in my second year, but say I do ibanking (whether it be BB, MM, or boutique) the summer after my third year and dislike it. Would it still be possible to get into McKinsey, Bain, BCG, Booz, LEK, Wyman, etc. for a full-time offer provided that I do well at the interview?
... yes.
Yes, no question.
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