MBB Analysts: Forced to be Generalists?
Hey all, I'm very interested in a specific sector (e.g. healthcare or energy). As a first- or second-year analyst at an MBB firm, are you forced to be a generalist? Or if there is a "healthcare division" or "energy division" within the firm, are you allowed to join that group from the start so you don't waste any time working in industries that are of little interest? (I'm thinking there has got to be an energy arm, for instance, within any of the MBB firms because they consistent rank at the top of the rankings for specific sector consulting... but, I've never heard of anyone starting out in an industry group). Thanks in advance!
By analyst do you mean post-undergrad consultant? If so, then no, you aren't going to be able to specialize right off the bat. Plus, how could (and why would) you specialize if you're not even sure whether you're more interested in healthcare or energy?
You don't specialize until 2-4 years minimum after MBA (not undergrad). There's just no sense in specializing right off the bat. First, you don't have enough knowledge to contribute to any particular practice. Second, you may think you're interested in something now and other practice areas are wastes of time, but you never know until you try.
From my point of view, it is possible to specialize on a sector (even though not necessarily for 100% of your projects). If your partner likes you, you can try to get a spot on the next partner's project. However, the things said here are applicable for Europe.
I'm at MBB and have colleagues who have somewhat specialized already (pre-MBA level). All this means is getting in good with a partner/principal/EM/PL etc who wants to keep staffing you as they build their platform.
At any level, if you're kicking ass, you'll be able to control your own staffing to a greater extent. At a BA/A/AC or AC/C/C level, does that mean a 100% focus on an industry? Probably not. 50-75% in one industry or function/competency might be achievable though. Geography also comes into play. That type of focus in energy (assume you mean oil&gas, not utility/distribution) will be tough outside of Texas.
AnonyConsult is right.
At least here at McKinsey (where I'm an EM), BAs can absolutely specialize if they want to. Most people don't want to, but if you are doing well at a particular topic and want to keep working in that area, nobody will stop you from doing more in that industry / function. Your PD will push you to round out your skill set (analytics, leadership, conceptual PS etc.) but that doesn't mean you have to do 10 different industries.
As an MBB analyst, it is definitely possible to specialize in an industry. I've been one for 3+ years (undergrad) and I've managed to specialize in the energy sector. Few pointers: - Be on great terms with the partners who work in the sector. Even after getting into MBB, you'll find that networking is key. If you know the right people, there are usually more opportunities than there are qualified consultants. - Demonstrate that you know the sector. This may not happen immediately, but you can make it happen. Codify knowledge, write documents, build IP. - Build a skill that is unique. You might have to go out of your way to work extra hours and develop this (for example energy market modeling), but it will pay off. This is the easiest way to control which project/case your are staffed on. - Clients (and partners) prefer to have consultants who bring content knowledge, so there's a natural pull to do projects in similar industries. If you build it up right, you would become an expert in the industry without even knowing it.
Most important: Take time to figure out which industry you like. Under no circumstance should you start specializing before exploring and talking to your colleagues and senior consultants.
This is very important. I was saying this before -- you might think you want to specialize in a particular practice area, but you won't know until you try some of everything or at least have some serious discussions.
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