Is it common to get rejected from MBB summer internships but receive Full-Time offer later?
What percentage of MBB full-time hires also applied and were rejected (either with or without interviewing) during internship recruiting? Is it common to hear of somebody who receives an FT offer later after they've done more practice? For target schools, do most people receive another interview invite, provided they had some good internship experience over the summer?
Typically internship recruiting is more competitive than full time at the undergraduate level. However, if firms end up signing most of their summer interns, they might not do fulltime recruiting at all.
If you were good enough to get an interview for internship recruiting, then you should be able to get a fulltime interview. Thus more internship experience won't necessarily help you - it would still be all about the case interview. In that regard, practice helps a lot with case interviews but only to a certain point. If you are practicing cases for 6 months then you might not be cut out for consulting.
Assuming we are talking about the US, this isn't true at all. Yes, internship recruiting is more competitive fulltime--that bit is correct. However, MBB offices typically fill only 1/3-1/2 of their starting class through internship program and will (almost always) have full-time recruiting no matter how many interns receive and accept a FT offer. (In most cases, 90-100% of interns receive and accept.)
It depends on the office. This may be common in larger offices like NYC, but definitely not in smaller offices. If the office is happy with their summer class, there is literally no reason for them to extend additional FT offers if they don't have spots to fill. Regardless, even if a firm does do FT recruiting, it is likely there will be fewer offers.
Also not true at all, although this one is much more of a personal opinion than a fact. Even if you got an internship interview, additional internship experience can help you receive an offer for FT by helping you craft a better story about your background and convincing the interviewer that you are fit for (and interested in) the job.
Technically this is true, but realistically your background/behavioral is not as important as the case interview. Behavioral interviews are more about firm fit than impressing people with where you worked the summer before. Keep in mind there are literally NO prereqs for consulting. I know people who have had 0 industry experience that got MBB offers.
Geez. Don't people do quick searches before posting anymore? This is one of the most basic questions in consulting.
Pretty common! People who make it second rounds for summer recruiting are typically put on a priority list and get invited to events/workshops over spring and summer. I got dinged at both the MBBs I interviewed with for summer recruiting - and got offers with 2 for full-time (didn't interview with one after I got my dream offer).
If you got to second rounds and were close - you will almost definitely be called back. However, if you got dinged after the first round, you want to have the internship experience - simply because the amount of work experience expected from a junior applying for internships is less than that expected from a college senior applying for a full-time position (almost everyone I know in consulting did a top junior internship). Also, I found that having been at a consulting firm helped me think more like a consultant - and that definitely helped with case prep.
TLDR: practice cases, read HBR/McK Quarterly/BCG Perspectives, stay in touch with your connections, try to get a relevant (tier 2/3 or corp strat) internship - and you'll have a VERY good shot.
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