Career Advice
Hi, I’m a bit lost. Initially I was interested in M&A but after getting washed in the spring and summer internship cycles I ended up with a spring week at Deloitte (couldn’t convert, conversion rate was super low) and a summer internship at Mazars in their crisis and disputes team (a bit of restructuring, valuations and forensic accounting).
I’m not really sure where to go from here, my experience seems to align more with consulting so I’ve been more open to exploring that field for graduate schemes, and it does seem interesting. In addition I think I have some good experience in consulting from university opportunities.
Do you have any advice where to go from here if you were in my shoes with my experience to improve my chances for graduate schemes. Would you give up with m&a due to a lack of success in two cycles. How would you approach applications to strategy or management consulting with my summer internship.
For context I go to a semi target university and study economics. Also, I got all a stars at A-level.
Hey there! It sounds like you've had quite the journey navigating the choppy waters of internship applications. Don't let the rough seas get you down; even the most seasoned sailors face storms. Here's some advice to help you chart a course for your career:
Leverage Your Experience: Your stint at Mazars in crisis and disputes is a treasure trove of skills that can be valuable in consulting. Restructuring, valuations, and forensic accounting are all areas that require analytical thinking and problem-solving, which are also key in consulting.
Consulting as a Compass: Given your interest and experience, consulting could be a great direction. It's a field that appreciates diverse experiences and the skills you've gained can be pitched as a unique asset.
Networking: Continue to reach out to alumni and professionals in the industry. Your aim for informational interviews is spot on. These can provide insights into the field and potentially lead to referrals.
Tailor Your CV and Cover Letter: Highlight your relevant experience from Mazars and any consulting-related university opportunities. Make it clear how these experiences have prepared you for a career in consulting.
Practice Case Interviews: If you're setting sail towards consulting, case interviews are a crucial part of the journey. There are plenty of resources available to help you prepare.
Consider Further Education: A Master's degree from a top university could enhance your profile, but weigh this against the additional time and cost.
Don't Abandon Ship on M&A: If M&A still calls to you, don't give up. Use your current experience to build a stronger case for why you're a good fit for M&A roles.
Expand Your Horizon: Look for opportunities in boutique firms or smaller companies where you might have a higher chance of getting noticed.
Remember, your A-levels and economics background are solid sails to help catch the wind. Keep your head high, your spirits higher, and continue to navigate towards your goals. Good luck!
Sources: Miserable in consulting, how to improve situation?, Do I have any chance to secure a grad scheme (Asset/Portfolio Management), Advice From a Seasoned Equity Analyst, London Advice on current situation and transition to IBD/S&T, Ask Accepted: What are my chances?
In my opinion, if you are interested in consulting it is of utmost importance in your situation to secure a good consulting position immediately after graduation, as every year that passes by post-graduation, it will be harder to pivot to consulting (until MBA), especially if you start at a place like Mazars.
As such, the best thing you can do is look into 1-2 year Master's programs. This will give you:
- Additional years to recruit for relevant consulting summer internships directly through your university's campus recruitment funnel (summer after undergrad, first summer of Master's, 2nd summer of Master's [if two year program])
- More time to think about your career goals and interest, leading to a potentially better choice for a first job after graduation (you seem to be not sure of your direction yet)
- Ability to weather out the storm in this rough economy. Perhaps upon graduation in 2-3 years, the economic climate will have significantly shifted
Hope this helps.
You’re right I’m definitely not 100% sure about career direction. The idea of a masters is one I’m not really interested in to be honest, it’s only an option so I can buy more time (working and building my career would excite me more). But it is one I need to be open to.
My initial plan was to use the summer, the spring week and a consulting project at university to cast a wide net for grad scheme applications in consulting. (Because you hear stories of ppl getting big 4 consulting from worse positions).
Maybe I should apply for summers and grads at the same time?
For me I am open to not landing the perfect grad job but riding it out and moving up until I find the right place in consulting before considering an exit. As long as I am gaining relevant experience and idk if I would get that at mazars.
What I don’t like about a masters is the uncertainty of the masters application process. What if I don’t get one and I’m I have no masters and no job.
Fair enough. I would just keep in mind that these 'perfect grad jobs' (e.g. MBB if consulting is what you ultimately decide to do), strongly prefer recruiting through their university pipelines. This means that the 3 best shots you have to get into these firms are in Undergrad, Masters, and MBA. Lateraling from a lower-tier firm because you wanted to rush into gaining work experience will make it an uphill battle. Skipping a Masters means you now have 2 good shots instead of 3.
I’ll keep it simple here. You only do a masters if you’ve come into the recruiting cycle and you need to extend your recruiting process but you do it when you’ve been really close: I.e, you got the final rounds and bulge-brackets but couldn’t convert. You didnt work enough during school.
You don’t do it if you were receiving interviews and opportunities but you’re struggling to close because a masters won’t solve your problem. Work on your interviewing skills and mock with people who have gotten the jobs if that’s the case.
I hope this helps
That makes sense, be realistic about whether a masters will actually be the difference. I’m gonna go to an alumni careers thing on Monday and ask some tier 2 consultants for those perspectives and to look at my cv.
Also a masters could help as I am at a semi target uni, my grades have always been perfect so I think I have a decent chance of getting an offer for a masters in a target uni.
I'd advise to keep looking at summer internship opportunities. In the UK, there are some Fortune500 companies that do strategy internships that open much later than the banking/consulting ones. That would be seen as valuable brand-name and relevant experience for strategy consulting. If you do go on to do Mazars, try and re-recruit for strategy consulting but also look at restructuring roles relevant to your internship. From there if you like it there's potential to make more in Rx consulting than MBB, and if you don't like it you can try and move over to MBB/T2
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