internship in MBB
Hey guys,
I'm Business Administration undergraduate student. I'm in my first year. I did lot of research about what I want to do and yesterday night I figured out that Investment Banking is not made for me. So I want to land in one the best consulting firms. Now according to lots of people here, MBB mostly promote good interns from there own offices so I just thought why not, let's do some consulting next summer. Problem is I have no clue how to get an internship in BCG or McKinsey. which is why i'm asking you, dear experienced fellows, to guide me or at least give me some tips.
My profile:
Germany
Good university
Good GP
No extracurricular
No work experience (whatsoever)
Smart, motivated ...
Thank you very much
Well in Germany you will need 2+ prior internships. For example Big4 Advisory or DAX30 internships... You most of the time need 1,5/5 or better and international experience is a must. Also your "Abitur" has to be 1,x also... So you see its not a walk in the park to secure an internship... how it works in the rest of europe I don't know.... US mainly recruits from us schools...
well first thank you for the information. Although you really kicked my motivation to get this internship. 2+ prior internships and international experience ? That is really too much ! and what do you mean by international experience.
I didn't go to school in Europe, but based on my knowledge of the US I have some suggestions for you. Keeping it short and sweet (because you are in your 1st year and didn't provide a ton of info):
Get some extracurriculars. You need to get involved on campus, AND get into some leadership positions
Aim for the best non-consulting internships and work experience you can get. You aren't realistically going to be able to recruit for MBB until the summer after your 3rd year........so you need to make the most of this upcoming summer and the next. Work somewhere, and make sure you take note of what you learn and accomplish, so you can translate it onto your resume and be able to speak to it in interviews.
Keep a VERY high GPA; I don't know the scale over there, but it really doesn't matter. The higher the better.
Get involved in the consulting club on your campus, and if there isn't one.........start one. You're going to need to find people to run cases with. It's going to be a few years until you need to start practicing though, so don't stress this.
Participate in case competitions. They can be fun, earn you some money, and you can gain visibility with a few firms (consulting and otherwise) depending on who the sponsor is. Even if its not sponsored, you can speak to it in your resume.
You are very early on to be thinking about any career, even consulting. This advice will also serve you well for anything else you may decide that you want to do as well, so that's good.
Thanks man I'm geateful to you for all these advice.
International experience means a semester abroad (you should have that, no matter what) and/or an internship in a non-german speaking country. I would agree with most of the things John Doe said, but extracurriculars are not that important in Germany. If you did something amazing like Olympics, professional sports, some legit charitable work etc it can help you ( a lot) but stuff you can pick up in the next couple of months is not going to help you significantly. Most MBBs to-be are going this route: Internship in DAX30/Fortune 500 --->Big 4 Advisory ---> MBB or if they can't get MBB then, they do a AT Kearney, Arthur D Litte internship to position themselves. I know quite a few people at MBB in Germany and they are all amazing in regards to their CV.
The Important factors for MBB internships are in that order:
Since you are in your first semester/year you should aim to get an internship at DAX30/Fortune 500 company and try for Big 4 Audit. Although its not highly regarded, it is a great first internship to move up to better positions the next semester break. The advantage of being in the German educational system are: 1. You can do 2 Internships per year (Use that from the beginning and try to get something every time you have 8 weeks without exams. 2. The competition is often not as harsh, as Dax 30/Fortune 500 roles with 37.5 hours a week and decent money is the route most will go.
Your main goal should be to get very good grades and keep busy with internships.
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