Switch from Accounting to Consulting

Hi everyone,

I'm new to WSO so firstly I'd like thank you for help in advance! I'll give you a quick rundown of my background:

(a)School:
(1) Rising senior at Baruch College (Undergrad)
(2) Major: Accounting, Minor: Graphic Design, GPA: 3.7
(3) Clubs: Active Member in Beta Alpha Psi, ASCEND and Golden Key
(b)Work Experience:
(1) Private Equity Firm - Accounting Intern for Secondary Funds/Some Hedge Fund work too (2011-Present)
(2) PwC (Summer 2012) - Assurance Intern in Banking and Capital Markets Group
-I received my full-time offer from them
(3) Morgan Stanley Smith Barney - Wealth Management Intern
(4) Better Business Bureau
(5) I am currently also a freelance Graphic Designer and a tennis coach

I've been an accounting major (audit) since I started college but I have a cousin who is in consulting. I've never really spoken to him too much about it but I visited him this Summer and he told me what he does, the roles and responsibilities and compared to the work I've been doing thus far and the work that I know I will be doing, consulting definitely appears to be a lot more dynamic, challenging and "action-oriented." I'm not complaining about the amount of work or anything, I know that regardless of which field I go into, I'm going to have to put my hours and work for results, I just currently feel like my current knowledge and experience can be directed towards something more challenging and rewarding and consulting definitely appears to be that portal! Now I do have a few questions I was hoping someone could help answer:

(1) As an undergrad in his senior year, is it too late for me to switch?
(2) There are no consulting firms that currently recruit at my school, at least none that I am aware of. If I apply for an internship for next Summer at say BCG or McKinsey, will my chances of getting in be less?
(3) I have a predominantly accounting-based background, is that something that will also hurt my chances of even getting my foot in the door?
(4) What kind of candidates generally get into consulting internships/jobs? Are there certain types of people that fit the description?
(5) If I want to "prep" myself to make this transition, how and what do you recommend I do?

I know this is a lot, but if you happen to get through all of it I really appreciate it! :D Thanks again and looking forward to getting some feedback!

Best,
Rishabh

 

My very first internship was an Accounting internship at a mid-size firm and upon talking to recruiters, this is the general vibe that I got:

People in accounting are very narrow-minded and lack the creative thinking process that is essential. Now, I'm not saying that this is necessarily true, but its how many people in the industry view accountants from my personal experience after speaking to a great number of consultants.

In order to counter this stereotype, participate in other activities(clubs/projects/case comps/internship) that will give you that consulting experience.

 

What's your GPA?

TCR is that if on-campus recruiting isn't available, you need to hustle to get in. Leverage any connections. If you don't have any, go on linkedin and search for people with similar backgrounds and reach out.

The bulk of hiring is done straight out of school, so while it's not impossible to transition from one of those jobs, the numbers are in your favor right now.

 

Consulting firms dont tend to care much about your major in UG as long as you can show them you can think logically. Big 4s..they care more about the prestige of your UG (name value) degree because most of the time their clients prefer that way. Besides, if you want to move up the ladder in Consulting, getting a MBA from top 20 schools in the US is seen as almost mandatory these days.

 
MillionDollarBaby:
.Big 4s..they care more about the prestige of your UG (name value) degree because most of the time their clients prefer that way.

? False

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 
MillionDollarBaby:
Big 4s..they care more about the prestige of your UG (name value) degree because most of the time their clients prefer that way.

This can't be more false. Name value? really? go back to playing with yourself in your dorm room and stop giving bad advice.

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

We need more information. What year are you? What kind of school do you go to? What kind of consulting firms are you targeting?

One of those lights, slightly brighter than the rest, will be my wingtip passing over.
 
MillionDollarBaby:
I meant Big4s as in strategic consulting firms (BCG, McKinsey,Monitor, etc), NOT advisory at accounting firms

The fuck are you talking about NO ONE ON THE FUCKING PLANET refers to MBB as the Big 4, that's strictly in reference to the Big 4 accounting firms (PwC, EY, Deloitte, and KPMG)

http://en.wikipedia.org/wiki/Big_Four_(audit_firms)

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 
MillionDollarBaby:
I meant Big4s as in strategic consulting firms (BCG, McKinsey,Monitor, etc), NOT advisory at accounting firms

what................a.........................................moron............................................

-MBP
 
MillionDollarBaby:
I meant Big4s as in strategic consulting firms (BCG, McKinsey,Monitor, etc), NOT advisory at accounting firms
akl;sfdakl;kjlafklj;fad
The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
 

My GPA is 2.85 I think I've got solid excurriculars fraternity help positions and such. I attend a small university in Alabama Jacksonville State University. I'll most likely pursue my MBA right out of undergrad I've got connections at Georgia Tech and Emory so most likely one of those.

 
Bigjosh88:
My GPA is 2.85 I think I've got solid excurriculars fraternity help positions and such. I attend a small university in Alabama Jacksonville State University. I'll most likely pursue my MBA right out of undergrad I've got connections at Georgia Tech and Emory so most likely one of those.

a 2.85 is pretty low, big4's (which tend to be easier to get in than elite firms) will most likely reject you too. if i were you, i would maybe think about a MSF or something similar. even if you do get a 4.0 in masters, firms will be highly critical of your ugpa. its a reality, no way to get around it.

 

While a bachelor in accounting is not necessarily going to hold you back you need to demonstrate excellence in your academics and in your extracurricular activities. This means you have to raise your GPA significantly and you would need to get involved in outstanding activities next to school, i.e. start a firm, start a leading campus society, etc. I am not sure whether the grad schools you're mentionining there will get you into strategy houses, but perhaps someone from the US can comment.

 
Best Response

Are you sure that you'll get into those MBA programs with your profile? I'm not that closely familiar with them, but your GPA is really low and you're not coming from a brand-name school. But if you do get in, I would advise against going right now. Consulting firms that hire MBAs expect pre-MBA work experience, and on top of that, neither Emory nor GT are places that the big consulting firms really recruit at. When people use an MBA to re-brand themselves, that means more than covering up bad UG grades: it means changing careers, which is only possible if you had a job beforehand.

I can't imagine you'll have much luck getting a consulting job right out of college, but still try. If you can't, I would see what kind of accounting jobs you can land (if you could get a Big 4 audit job, that would be great, but somewhere smaller would be fine too). Then you can get your MBA and try your luck.

One of those lights, slightly brighter than the rest, will be my wingtip passing over.
 

How many people on this thead aren't trolls?

You can major in whatever, so long as you can demonstrate - Your ability to do the job - Your interest in the job, i.e. you aren't going to decline an offer becuase you're really interested in X, or you will bail out quickly once you start to do X

Obviously, it can be easier or harder, on average, for people with different backgrounds to accomplish those things.

 

it was posted on the consulting forum....stupid comment

i think its not that uncommon to go from audit to consulting (most big 4 have consulting arms these days--that would probably be your best bet)

also go on linked in and look at people in consulting with cpa's

you could also just apply to consulting firms after getting your cpa--they certainly wouldnt mind hiring you as entry level (CPA wouldnt get you an associate level position you'd still come in like a ugrad)

 

thanks for the reply breakinginnew,

my plan is to go into audit because i feel it will give me a better understanding of how companies in certain industries operate. after working for a public accounting firm i figured i would try to gain experience in consulting by working for a firm and then eventually choosing a niche and starting my own firm from my experience and contacts

im just here to gain some insight from people already in consulting with experience if my approach is realistic

 

I'm just a former auditor, but for what it's worth, your friend would have a shot at Big 4 companies. Now when you say "consulting," that could mean a lot of things, and I'm thinking more along the lines of advisory type work (finanical due diligence, etc.), maybe not as much Deloitte consulting, which at least reputation-wise seems like a longer shot.

So is it possible? Sure. And I hate to tell anyone to bite the audit bullet and start there, but that's always an option, too.

 

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