Going into consulting post IB summer
Interned in IB (EB/BB) this summer but realised I am quite interested in a career in consulting. Should I apply to straight graduate positions for consulting or internships again?
Not too sure how much consulting experience consulting firms require for entry roles.
If you're transitioning from an IB internship to consulting, here's what you need to know based on the most helpful WSO content:
Apply for Full-Time Roles: Many consulting firms hire directly for graduate positions without requiring prior consulting internships. Your IB experience, especially at an EB/BB, is highly regarded and demonstrates strong analytical and client-facing skills, which are transferable to consulting.
Networking is Key: Start reaching out to alumni or professionals in consulting firms. Networking can significantly improve your chances of securing interviews, especially if you're pivoting from a different field.
Prepare for Case Interviews: Consulting firms place a heavy emphasis on case interviews. Begin practicing as soon as possible to ensure you're ready to perform well during the recruitment process.
Consider Internships if Necessary: If you're unsure about your fit for consulting or want to strengthen your application, applying for internships could be a good option. However, if you're confident in your skills and experience, focus on full-time roles.
Leverage Your IB Experience: Highlight the transferable skills from your IB internship, such as problem-solving, teamwork, and handling high-pressure situations. These align well with what consulting firms look for in candidates.
Ultimately, consulting firms do not necessarily require prior consulting experience for entry-level roles, so your IB background can be a strong asset.
Sources: What should I do as an undergrad if I want to work for Mckinsey?, Q&A: I Work at Strategy&. Consulting, Have I messed up my future?, Did my GPA screw up my application?, Q&A: Former MBB Consultant
I don't think consulting is a great place to be, loads of quiet layoffs. Many people on the bench. Tight budgets, less interesting projects for the most part at most firms.
Recruiting is a mixed bag at the entry level but easily a lot harder than what it was years ago. My team doesn't even hire entry level despite the fact we hire someone new seemingly every month and had a recent strong fiscal year.
MBB?
Not true at my firm, we've increased junior hiring
Yeah of course YMMV. Pretty sure we plan to increase on-campus hiring in 2027. We have quite a bit of turnover at the mid levels so that's probably why.
Our firm in general doesn't hire many analysts across many of our practices anyway. This year we did across larger practices but our smaller practice didn't.
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