Consulting Questions

What firms are worth applying to? (Hierarchy)
Based on the most helpful WSO content, consulting firms are often grouped into tiers:

• MBB (McKinsey, BCG, Bain): These are the top-tier firms, known for their prestige, compensation, and exit opportunities.
• Tier 2 (T2): Includes firms like Oliver Wyman, Roland Berger, Strategy&, and LEK. These firms are highly regarded but slightly below MBB in terms of prestige.
• Big 4 Consulting: Deloitte, PwC, EY, and KPMG. These firms are strong in implementation and operational consulting, with some strategy work.
• Boutiques: Smaller, specialized firms that focus on specific industries or functions.

It's worth applying to a mix of these firms depending on your background, interests, and networking connections.

How much does networking matter at each firm?
Networking is critical across all tiers, but its importance varies:

• MBB: Networking is essential. Attending firm events, coffee chats, and Q&A sessions can help you stand out. Thoughtful questions and demonstrating knowledge about the firm’s work are key.
• Tier 2 and Big 4: Networking still matters but may not be as crucial as for MBB. However, building relationships with consultants or alumni can significantly improve your chances.
• Boutiques: Networking can be even more impactful here, as these firms often rely on smaller, more personal recruiting processes.

Across all firms, leveraging LinkedIn, mutual acquaintances, and structured events is highly recommended.

When do summer intern applications open, and what is the recruiting timeline?

• Applications: Most firms open their summer intern applications in July or August, with deadlines typically in mid to late September.
• Networking Events: These often occur in August and September, including coffee chats, workshops, and Q&A sessions.
• Recruiting Timeline:
  • June - July: Begin networking and refining your resume.
  • July - August: Focus on cover letters and applications. While cover letters may not always be read, it’s better to submit one unless explicitly told otherwise.
  • August - September: Submit applications and attend networking events.

For specific firms, it’s crucial to monitor their websites or use an Excel tracker to stay updated on deadlines and events.

Sources: Consulting Recruiting 2023, Consulting Recruiting 2023, Did my GPA screw up my application?, Advice for London 2022 Applications Cycle - A Couple of Observations, Two Internships Later: What I wish I Knew While Recruiting! (Toronto)