I've read all about what it takes to break into consulting. I'm not necessarily looking for MBB, but top hopefully top 10 and specifically strategy (Read: LEK, OW, Deloitte).
I'm wondering about the math skills required to:
A. Get an interview
B. Do well in the interview/case
C. Perform well on the job
About me: I have taken exactly two significant math classes since high school: basic stats and basic calculus. I got a B- in both, albeit with minimal study. I took the GMAT with a few weeks of minimal study and got 99 percentile V, but close to ...ahem... 25 percentile Q. I enjoy math when I get it but it doesn't come as naturally to me as to most people. However, I think if I studied for a month or two I could get 50-75 percentile GMAT (which would likely push my score up to 700+).
TL;DR: I'm not an idiot, but I'm certainly not a math whiz. Wondering about how much math is required to become a consultant and to excel.
You need a solid understanding of linear math concepts and how they are applicable in finance.
So, GMAT type math is not necessarily relevant on a day to day basis? I mean, I can do algebra and percentages as well as the next guy.
I can analyze financial statements, and some models at the moment. I'm a first year auditor right now, looking to bounce in the next few years after an MBA reset (I realize I'll need to retake GMAT)
A) Don't really need much. STEM/Business degree helps, but they don't pay that much attention to specific grades in specific subjects.
B) Mostly need to be very fast and very accurate at very basic maths. I'm talking add/subtract/multiply/divide. I didn't have anything other than that in my interviews, and have never given anyone a case that required more than that (NB: the McKinsey PST may be different, I didn't apply there)
C) You'll need to be reasonably good at statistics to get through, but everyone has different strengths. Some of my colleagues can build multiple regression models while those who can't (like me) are valued for other skills, like the ability to succinctly communicate the so-what of aforementioned colleague's MR model.
Everyone likes to say you need to be a weapon at maths to make it into consulting and excel when you're here, but it's not necessarily the truth.
You'll need to continually improve, but you can get in and do fine with only the basic sorts of maths skills.
1) Having two B- in your only two math classes is a huge red flag. That doesn't mean every reviewer will spot it though -- some can be remarkably sloppy -- but many will. I would ding you summarily, and most of my colleagues who went to my alma mater would as well.
2) You absolutely need solid math skills to excel. If you think with study you can improve, well guess what, there are dozens or hundreds of other people from your school who are good to go right off the bat. Why take the chance?
As far as getting the job, you might slip by. You might even go a few years on the job without needing it. But to excel, you absolutely need rock-solid math skills. Rock-solid math skills does not mean that you must necessarily be able to explain every nuance of a multi-variate regression, but it does require a level of proficiency inconsistent with B-
3) Your question implies that recruiting is somehow easier at boutiques and other non-MBB firms than it is at MBB. This is simply false and covered in many threads -- find them and read them if this is new information
@NYC, thanks for your candor.
The B- grades came early in my undergraduate before making a course correction. I ended up graduating with a 3.5 from a top 2 Big 4 firm and taking an Audit position. I just finished a 9 month extended internship and I'm starting FT soon. (Believe me, not one part of that paragraph was bragging...)
Here is my question: Since I plan on hitting reset with an MBA in a couple years, will reviewers still flag my undergraduate transcript, even assuming good math grades in MBA and a corrected GMAT? I guess I'm asking if those are permanent deal breakers or just ugly blemishes that I can mend over time?
As Bismarck mentioned, I feel like someone who has other tools to bring to the table, like creativity and communication, that will hopefully offset any deficiency I have in mathematics.
My GMAT math was like...in the 40th percentile. It was terribad hahaha.
With that said, Excel is different than math math. I'm really strong at Excel. And you have Google in real life. Google is amazing. And in real life you can ask your friends + the internet. If you're good at figuring things out, you'll be able to do any quant stuff.
No seriously, 40th percentile no lie. And I got a C in my stats class. And I was a marketing major. So yah, if I can do it...so can you :)
@Xepa, thanks for that comment. I'm an auditor and I use excel like it's my job (because it is). That's good to hear, although it still worries me that a reviewer will ding me right off the bat.
A lot of it is a grasp of numbers than high-level math. That is, can you calculate close to 19% of 6500 off the top of your head? What is 1/5th of 72% of a million? If you can think comfortably in numbers, you can find the resources and fill those holes in your math skills.
How fast do you need to be with something like that? I can get there but I have to mentally calculate it and it takes a few seconds. Using your examples, I just go to 20% of 6500 and subtract about 100. Is that close enough to not look like an idiot, especially if it takes like 3-5 full seconds to get there?
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