What experience is MBB looking for?

So basically I just got done going through recruitment for summer analyst positions with Investment Banking. Despite 3 super-days, I didn't end up for an offer. But I also applied to Bain and didn't even get an initial interview.

Right now I'm interning with a Merchant Bank. He does some M&A advisory and some principle investing. I could stick with this for the summer but I definitely feel that there are better oppourtunities out there.

The more I think about it and the more I talk to people I'm really leaning towards a career in consulting over banking. So with that said, what kind of internship should I be looking for this summer since I won't be getting one with consulting or any bulge bracket/significant MM or boutique investment banks. I could always shoot for some really obscure local boutqiue investment banks.

What sort of summer internship will impress consulting recruiters from MBB the most?

 

Bain was the only one that recruited at my campus. Going into the process I put most of my focus on banking and as such neglected to apply to boston consulting and mckinsey since I felt the odds of being picked out of the online applications were slim. (I know I should have done it anyways). I also didn't have access to any alums at those organizations to network with.

Would something as mundane as a summer internship with NBC's finance division be worth it? NBC is a large name though I'm sure the actual internship isn't anything spectacular.

 
GibsonLA:
Would something as mundane as a summer internship with NBC's finance division be worth it? NBC is a large name though I'm sure the actual internship isn't anything spectacular.

In my experience with them, NBC interns do absolutely nothing of purpose and create no transferable skills for non-media industries.

- Child Please.
 
kennethlchen:
C'mon - you really think MBB consulting is harder than getting into MGM-Blackstone banking? Yea, I don't think that's true.

What is "MGM-Blackstone banking"? I assume you were referring to the below, and that when you said MGM-Blackstone banking, you simply meant BX?

maxc:
Remember that MBB is harder than BB, so you really need to stand out. The advantage is that they're looking for people with diverse backgrounds.

In which case, both of you are correct. BX is not a BB, so irrelevant to the statement; BX is more selective then MBB, but MBB is more selective than BBs. You're not getting either MBB or BX with BB IBD.

Rana Clamitans:
Rana Clamitans:
How does the Nielsen Company rank in terms of 'name prestige?'
bump for my question

Nielsen is not really that selective and certainly won't put you over the edge, but MBB will also look at you if you have outstanding experience in some other way; I know guys who are at McKinsey with no prior work experience, but they knocked everything else out of the park: GPA, SAT, extra-curriculars, etc...

 
Best Response

Try to land the best internship you can, but at the same time it's really not a huge loss if you don't work at Morgan Stanley or something. If you were good enough to get to 3 BB superdays you'll probably be good enough to get a FT interview, especially considering how much harder it is to get an MBB SA position.

Just FYI, I took an MBB FT offer with a summer internship that virtually everyone on WSO would sneer at.

 

any elite firm... MBB people act nice but have gigantic egos and pride themselves on being better than you. You'd really need something elite to impress them... but u don't have to impress them to get a job offer.

========================================= We are excited to formally extend to you an offer to join Bank of Ameria
 

is it just that my school is really liked by these guys, or is mbb difficulty really overhyped on here, at least in terms of getting an interview? i know a dude with a 3.3 and really shitty experience who got mbb offer, another who literally spent junior summer taking classes and not working, someone who worked in back office at a bank, and a bunch of other bs. gs/ms/jpm/elite boutiques are way harder.

these guys interview a ton of people and from that point it all comes down to your case.

 

Generalist firms hiring for generalist roles (MBB/D) are pretty agnostic about functional background and coursework. They are looking for a proven track record of success, analytic ability, communication skills, team orientation, and leadership potential. For functional practice roles (McK BTO, McK Ops, ACN tech, Del tech) and industry (vertical) practice roles (Strat&, PwC), relevant experience and demonstrated interest/passion can be pretty important.

 
brj:

Generalist firms hiring for generalist roles (MBB/D) are pretty agnostic about functional background and coursework. They are looking for a proven track record of success, analytic ability, communication skills, team orientation, and leadership potential. For functional practice roles (McK BTO, McK Ops, ACN tech, Del tech) and industry (vertical) practice roles (Strat&, PwC), relevant experience and demonstrated interest/passion can be pretty important.

This exactly
 

This will not be the answer you are looking for, but if it was me I would be spending my time studying the GMAT and doing whatever else it takes to make me competitive for a top MBA program. It's something you will need after a couple of years in MBB/tier 2 anyway.

 

Thanks Hopkins!

I'm already done with GMAT, aiming at top 5-7 MBA down the road. But thinking that working at big 4 will not get me to top 5-7 MBA program. Hence, once again looking into management consulting.

 

Probably reviving a near dead post, but I'm curious: how have you gotten along in your recruiting efforts so far? The reason I ask is because I am also trying to break into consulting after working a year. Thus, I am considered an "experienced" hire though I will be applying for an entry level role.

 

Hey I'm still actively contacting everyone in my network, reaching out to alumni, etc. to sort of get a feeling of what my options are. And for most firms, you'd have to start from entry level, which isn't really a problem for me since I'm switching industry.

I haven't really applied to any places yet, but will start doing that soon. Your progress?

 

I had a similar situation. I came over to the consulting side after having spent a year + in the working world. Position yourself as someone who will lend your project team a unique perspective. If you have outward facing client contact experience, leverage it, hard. Sell the fact that you understand how working with a team in a high stress enviornment works. You will start out as entry level, but like you said, you are switching industries and it's just something that will need to be done. Separate yourself from the competition by explaining to your interviewers that your competition isn't familiar with delieverables, pain the a** clients (and how to deal with them), etc. like you are. Like every consultant will tell you, you need to speak about results. These people droll over results. You put together a presentation? Ok, cool. Tell them what type, why, what you did to win the responsibility of being entrusted with the task, and what came of it. Speak about the big picture, it most certainly helped me. Best of luck, mate.

 

If you want to do trading, you should do a trading internship. Consulting really doesn't care about your background. It's more important to know the field and be smart than to have experience. I know people who did BB internships then went to consulting, but I know as many who worked in a research lab all summer. For IB/ST, internship is way more important.

 

MBB doesn't take anyone younger than junior for summers. Will you get strategy work at the IT consulting? Otherwise I would shoot for S&T since management consulting firms could care less that you helped set up some company's servers. Not hating on IT consulting, it's just not much like management consulting.

I did S&T/capital markets last summer and loved it. You learn a lot about the markets which is useful anywhere and will also work similar amount of hrs as in consulting.

 

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