chances at MBB
I'm a junior at a target who always wanted to get into some trading role after grad but recently have had change of heart and now want to get into consulting.
I go to a what would be considered a "2nd-tier" target (think Columbia, Dartmouth). My GPA is 3.7 (econ major, math minor). I had one internship last summer at a prop trading firm in London. I have good EC's but they are all tailored to investing/trading/finance.
Anyways, would I at least be able to get interviews at MBB and from there it just depends on my expressed interest in consulting and the work it entails and my general knowledge of the industry?
How would I compare to peer applicants? What kind of previous work experience/internships do successful MBB candidates have? And would being especially knowledgeable about financial markets give me advantage in any way? (ie make me unique and give value to firm somehow)
The great thing about consulting is that there's no one background that they're looking for. There are plenty of English and Philosophy majors without business experience who get MBB offers because they're intelligent and personable. Your resume should be strong in the sense of general achievement (i.e. high GPA, academic awards) and leadership. Coming from an Ivy with a strong GPA and solid EC's/work history should be enough to get first rounds. The interviews will be a mix of experience and case. The experience part is a cakewalk b/c it's very easy to prep for, so the case is generally what makes or breaks the candidates. Be sure to do a ton of practice cases beforehand.
As for your finance background, that may give you an indirect advantage in that you'll understand concepts like profitability, the drivers of revenue, cost structures, etc. so the cases may be a bit easier for you. However, that certainly doesn't make you a unique candidate. In fact, it's VERY common for pre-bankers to also apply to consulting firms. A McKinsey recruiter once told me that their biggest competitor for candidates is not BCG or Bain, but rather Goldman Sachs.
EWS90 is right on the money. MBB looks for diversity and general achievement.
This statement however
"A McKinsey recruiter once told me that their biggest competitor for candidates is not BCG or Bain, but rather Goldman Sachs"
Is so untrue. Mckinsey loses more offerees to Bain/BCG than to Goldman Sachs at least at H/S/W. their career departments give you placement information including cross offers for top firms if you're a student.
I think that as long as you tailor your cover letter and resume so that it doesn't appear as though you are an i-banking aspirant who is just casting a wide net, you'll be ok.
And once you get a shot at an interview, it's all going to come down to how well you rock cases and if the people like you.
^what do you mean "rock cases"?
It means acing case interviews.
Dude. You are a econ major, math Minor. I cannot think of a better combination save econ major math major or fin major math major (which I doubt your school offers). You have a good GPA. "Second-tier" Ivy...? I have friends from non-target public unis as BAs/ACs at MBB. Take it from a non-target who had 3.2 (or equally shitty 3.4 when I applied), OK but not great ECs, and still landed decision rounds with MBB (fucked up one case with each of two firms, this was two years ago) - you have a decent shot at an interview. You do know how to write yeah? So perfect you resume. And write a good cover letter.
Columbia is not a second-tier school. That is all.
is it third?
LOL... he be funny dat guy...
In terms of pedigree, you're more than fine. Academically, you seem pretty similar to me, except from a school with more recruiting, and I interviewed with all three. I doubt your knowledge of finance will help you add significant value, but you definitely sound qualified enough to get an interview.
Sorry to ask such a obvious question (i'm new here) What does MBB stand for?
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