What are the Academic Backgrounds of Consultants?
Just curious to know about the general academic backgrounds of consultants. In my university, there are three specializations: public accounting, finance, and management. (The management specialist also includes concentrations in Marketing, International Business, Strategy, etc.)
For a student who is considering consulting as a career, which specialization will give the most relevant training and knowledge base? Do I even need to be a business major to go into consulting?
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AllStateRap approximately how high should your GPA be? And also how do they view GPA-extracurricular balance (which one do they prefer)?
3.5 is pretty much the universal cut off. Then GPA preference will depend on your school/major and which firm you’re applying to. 3.7+ will probably make you competitive everywhere unless you’re applying from a non-target with a fluffy major.
Why do you think there has to be a trade off between ECs and grades? Unless you are an outlier case (think D1 student athlete or you run your own business that you’re about to sell for $500k) you probably won’t get any pity from resume reviewers.
All of my marketing courses have been awful, like common sense things and giving names to things that you already knew existed but didn't have a name for it in your head.
To add to this I would say that you should take something your interested in. Your more likely to succeed and it’s more authentic. Plus if you don’t get into consulting you won’t have suffered through years of misery that didn’t pay off because let’s face it - the odds are against everyone.
I can’t imagine the interviewer being impressed when you tell a story about your major and it being “I took this major because I heard most consultants take it”.
You might as well start the interview with “well I’m not very original or creative or different or much of a leader nor do I have any intellectual depth or curiosity” - which btw represents the majority of what they are looking for.
The guy/girl who spent a decade getting a PHD in pirate studies and has an interesting story will beat you if you both get the same gmat and did the same on the case because they are more interesting.
If your thinking this way maybe accounting is a better major as a back-up career choice.
Sorry to be frank about it - it’s a tough industry and a tough interview process and I don’t want to sugarcoat it. Though this is from the perspective of post-MBA associate MBB interview prep.
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If you're studying business, I would either take finance and add general management electives or management (international business and/or strategy concentration) with quant-heavy electives such as financial analysis, advanced statistics for business (e.g. econometrics), quantitative economics classes (e.g. advanced microeconomics).
With that you would cover business basics quite well while showing quantitative aptitude/ skills.
Majors/Minors for consulting: Biology vs. Business Administration vs. Economics (Originally Posted: 04/23/2016)
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Ruhm is consulting heavy on quantitative analysis?
It depends, obviously. I found that some FS/ supply chain modelling can be very quantitative, while an org/ PMO project is likely to be very fluffy. The more quantitative projects can indeed be quite heavy on the analysis side, and most consultancies would want to make sure you can handle that without major issues.
I'd go with option 1 - people generally don't care about minors (because they're sometimes as little as 4 classes), and you're only considered somewhat knowledgeable about a topic if you major in it. I think option 1 will give you the business background and the ability to credibly say you're interested in life science when they ask for your story.
Any of them as long as you can keep up a high GPA - #1 is probably the easiest. If you know you're defUnitedly interested in consulting, makes sense to explore Business degree. But you could break into MC with any of the backgrounds.
MBA ad com will not be concerned with your degree. In fact, bio undergrad is probably a lot less common and potentially would stand out. But they'll just look at your GPA and move on.
Qualitative major here. It’s posisble without much quant if you know how to play the game, but I never got a look from Bain and I’m positive it’s because of my lack of quant skills.
If I could design a “consulting” major, it would incorporate Poetry (learning to be economical with words); English (learning prosaic writing); Philosophy (learning to structure arguments); Economics (for the obvious basic economics principles); Corporate Finance (useful for working with corporations especially if you ever have a DD); Org Change (learning about resistance to change is key if you ever want a client to implement anything); and a foreign language so you can get staffed overseas and collect all the pay bonuses that brings.
What commerce major is best for strategic consulting (Originally Posted: 02/05/2018)
I'm hoping to get into strategic consulting somewhere down the line, so I am wondering what subject its best for me to major (or double major) in at Uni. I'm studying commerce and the options for Majors are:
Accounting Business Economics Business Strategy and Economic Management Business Law Finance Financial Economics Human Resource Management Information Systems International Business Management Marketing Real Estate Studies Taxation
I was considering either a double major in Business Strategy and Economic Management and Management or
Business Strategy and Economic Management and Finance
To be more specific; Corporate Strategy Consulting
the latter. double in 1.) business strategy and economic management and 2) finance. Get a good gpa and you'll be in good shape
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I would suggest management on the condition it has good and useful modules. Some business schools suck and have modules such as: history of management, strategy (very theoretical) etc. If you have the option to take modules such as intro to finance, basic accounting, game theory or some form of analytics then management works for consulting. And since management varies form B-school to B-school (as mentioned) list the modules you take on your CV
Probably Finance, Business Strat, and Management
I was at a boutique life sciences management consulting firm, so this is a little different in as much as there is a large degree of self-selection. At the analyst level everyone had a STEM degree, usually bio, with some chem. Also there were a fair number of advanced degree people at that level (mix of PharmD and PhD mostly). At the consultant level and beyond backgrounds were more diverse and we had some folks without STEM backgrounds. The firm would look at Econ/Business degrees, but most folks selected out, due to the pharma/life sciences focus. My friends who went to generalist shops had a wide variety of degrees ranging from Econ to engineering to psych, the only commonalities were high grades, target school and strong soft skills.
Finance/CIS major to Consulting (Originally Posted: 07/09/2015)
Hello, I'd like some advice.
I'm a senior at a large state school that the Big 4 does some recruiting from. I'm a Finance and Computer Information Systems double major. Currently interning at a large financial services firm (not banking) as an IT intern. I've done well here and expect offers from both Finance (Finance Analyst) and IT teams (either Business Analyst or Technical Systems Analyst). I've built great relationships here but compensation and benefits are 15-20% below what Big 4 recruits make.
I'm interested in consulting, specifically Deloitte S&O (isn't everyone?). My biggest hurdle is my gpa. I expect to finish summer semester with an overall +/- 3.1. I didn't do so well my first two years in college and had to take a few years off. I worked during that time and gained some valuable experience. I returned to school determined two years ago and have done very well in all my courses (3.5 avg for courses taken after my hiatus).
My question is, will I even be considered given my low gpa? Has anyone on here successfully gained employment with a below minimum gpa? Am i better off accepting a position with my current company upon graduation then applying a year later as an experienced hire?
Any help would be very helpful and much appreciated. Thank you.
With a 3.1, I think you would probably have difficulty getting into the audit or tax team. Based on what you just indicated, I think it is highly unlikely that you would even get to the interview stage for any big 4 consulting.
Perhaps you could described your CV a little more in depth, and then it is easier to evaluate what needs to be done.
You could accept your current job offer, however, it is not going to be an easy road ahead. Firstly, what kind of consulting do you hope to transition to? IT consulting is no S&O. I'm not sure how you are going to transition from a finance analyst position.
Secondly, from experience of myself and my peers, for PwC consulting, Deloitte S&O and EY performance improvement. 1 year in industry does not equal to 1 year in consulting. If you are going to transition in, you might realize that your peers (Class of 2015) are far ahead of you.
Lastly, MC usually has a unstated requirement of an MBA, how does your timeline fit in? Isn't it a wiser move to target a top mba programme, then leverage it and transition to MC.
If you have been on the forum long enough, you'll notice that there are a few success stories where the OP received an offer in BB IBD, Big 3 Consulting, etc.
Having a low gpa is definitely going to hinder your chances, but it does not mean it would be impossible. As long as you network properly, the chances are there. Without networking, don't even get your hopes up about an interview.
Science major with no experience in consulting,,, any chance? (Originally Posted: 09/15/2012)
As mentioned in the subject line, I am in my last year of undergrad at a top Canadian institution. I'm double majoring in chemistry (science) and econ (cGPA: 3.8+), but I don't have any experiences in consulting field. Most of my experiences have been limited to medical/science research (no paper publication, but abstracts submission).
Most of my leadership experiences consist of working as a tutoring/mentoring/teaching assistant and science outreach work.
I'm wondering whether I have a shot at consulting. At recruitment sessions, recruiters told me that they are looking for "qualities" rather than actual experiences, but it seems like most people on this forum have quite a bit of experiences interning at firms.
I want to be able to work full-time by September 2013, and I wondered whether or not I am being delusional by applying to consulting analyst position (entry level) at this point.
thanks
No business major needed for general consulting. Having said that, for specific sectors you need to specialise e.g. no one will take you seriously in life science consulting without a medical background. Other sectors have specialisation that can help but are not 100% required e.g. engineering for aerospace or political science for political consulting
Not delusional, I was a hard science major with 0 business experience, just tutoring and research and am at MBB now.
Hi I'm in the same boat at you. It's nice to hear someone like Starpoints get the job done though. Would you mind given us an explanation of how you made the transition?
how many undergrad hires have experience in consulting... cmon son.
In my start class I had a bunch of science, psychology, and history majors. Not as many Business majors as I would have thought, but it makes sense. Rarely does anyone have consulting experience prior to joining consulting. Really the only thing you need to work on is telling a story about why consulting, and what lead to decide to pursue it.
Also, prepare for case interviews. Definitely tough if you've never come across one, and there don't test your technical or business knowledge, but your problem-solving skills and reasoning, which is essentially all consulting is.
Couldn't agree more. It's all about how you spin your past endeavours to relate to your carefully thought out response to the most basic question, "Why consulting?"
Your major and grades are a huge asset. Use them.
Have you looked at a smaller/boutique firm? Did you do ANY internships at all throughout your college?An alternative approach is going into the industry for 2 years to gain some "industry experience" and then re-apply as an "industry hire".
What are some of the "boutique firms" can you recommend that I can apply at this point?
You are a perfect candidate for a prestigious healthcare consulting firm! It can either be a hospital org focused firm, but I was specifically speaking to a life sciences and pharma product portfolio strategy firm (I work at one). We hire almost exclusively those with life science backgrounds from BA, MD, PhD, but of course, have our share of former bankers and MBAs among our ranks.
Thoughts on Mech Eng + CS double degree for MBB? (Originally Posted: 03/06/2016)
Hey guys, at the moment I am 1.5 years into my 4 year undergrad Mechanical Engineering degree. Attached is my resume for more background info and context.
Recently I attended some presentations by BCG, Bain and Oliver Wyman at my university. I had been interested in management consulting previously and considered doing a Commerce degree but knew it was extremely lucrative and competitive so decided to focus my efforts into more stable/comfy roles (engineering). Turns out they recruit from my university and a lot of their current staff are alumni's of my uni.
I am currently evaluating what the best approach is for a potential future in management consulting. From what I've noticed, a lot of these alumni graduated with a double degree in Law & Commerce who've also had internships with investment banks, etc. I have the option of doing a double degree as well by extending my degree by a year. These are the 3 options that I'm considering:
Just wanted to get feedback on a couple of things:
• Is a double degree even worth doing? If so, which of the 3 options do you think would best bolster my chances at management consulting?
I had the opportunity to speak with the recruitment manager of a small firm called Port Jackson Partners, the vibe I got was that the business stuff could be easily learned on the job so they'd appreciate a Science/Engineering degree more as opposed to Commerce. However I'm not sure if this is also the case for MBB. I know some small boutique firms only hire engineering students etc. but what about MBB? Am I simply going to be overlooked given my background?
• Should I continue spending my free time in engineering extracurriculars? Some of my long term goals are being the President of my Engineers Without Borders Chapter and being the design lead of the Chassis for my FSAE team. I'm wondering if MC firms would even give two shits about this or even know what it is? Should I switch and focus my time on business societies and join consulting clubs instead? Or should I continue getting experience in 'technical' positions? Basically I'm trying to figure out how to best spend my time the next few years.
In my head, a double degree of Mechanical Engineering and Computer Science sounds solid. However I know I'm not going to be using either in management consulting so not sure if its the best option. I am trying to plan my trajectory for the next 2-3 years to best improve my chances at MBB and would love to get your thoughts or feedback from people with similar backgrounds. Another reason I am considering extending my time at uni with a double degree is that it gives me more time to pick up business lingo and practise the case interviews.
Thanks and I appreciate the time taken to read this lengthy post.
Consultants must typically earn a bachelor’s degree in order to be competitive in the field. You can secure a degree in finance, business administration, business management, accounting, marketing, psychology, human resources, engineering, political science, computer science etc. However, some employers prefer to hire those who have earned their master’s degree, specifically the MBA.
My take: do something that will challenge you and that you will enjoy. Try to make it have a quantitative element in it. Then do your best to excel and be able to talk about it as a coherent journey for you. Similar story for extracurricular: do something that you enjoy and on which you can have a significant impact. The actual details of things like exactly major and extracurricular choices are not as important as your ability to have an impact in whatever it is you choose to do, as long as those choices challenge you.
MechE/CS sounds great, as do all of the other options.
I agree with prior post to go with what you are most interested/excited in vs. trying to optimize for a consulting role. Getting the job is about showing you are a bright, energetic student and leader who has the interpersonal skills to translate well to business. It is not about financial or other business content. To me - granted biased as an engineer - I like the ME/CS combo. MBB, like everyone else, are looking for people who can go deep on quantitative analysis but can put the questions into a strategic context and communicate the insights to non-expert business people. ME/CS seems to pay into that and also gives quite a nice natural industry breadth. That said, if you really want to do quant finance go for it. Remember, the joint probability that you (A) get a MBB job + (B) stay in MBB for your entire career is really, really low so don't let that drive your decision. Study what you enjoy and where your strengths lie and consider what would give you the broadest option set over the next 20-30 years.
Do whatever will give you a GPA closest to a 4.0 its the simple.
If you think you can get a 3.8+ with that double major great, if not single major in one or the other, or even worse if you don't think you can get a great GPA and do all the networking, EC's major in something simpler and learn the CS on the side.
Unprestigous Ed. background -> M/B/B. How will I be treated/viewed? (Originally Posted: 02/14/2009)
Long story semi-short:
Attended a semi-target for undergrad during the late 90's internet boom. Got hooked on tech early after a sophmore year internship. Started my own successful internet business while a junior (raised high six figures in angel funding). Nearly failed out of school senior year because I was never there. I was too busy running the business. Dot-com bubble burst. Successful company went bust. Graduated a year late with crappy grades.
Fast foward six years and I applied to business school with a high GMAT/low GPA combo (including a couple F's) and scattered job experience at a bunch of no-name start-ups. Struck out with most b-school apps, but snuck into a school at the bottom of the top-20. Worked my @ss of in b-school, interned at one of M/B/B. Graduating in May and headed back to one of M/B/B in the fall.
During my internship, I was very conscious of the fact that I was pretty much the only person in my "class" without an undergrad degree and/or MBA from one of H/Y/P/Dart/Stanford/MIT/Amherst/William/Swat. Is there anyone here who has worked at a prestigious consulting firm who can tell me if I will be treated differently or viewed as an outsider because of my less prestigious background? How do you feel about people with backgrounds such as mine? Do you respect someone who clawed there way in from the outside or do you suspect that they are just not as capable as you and your more pedigreed peers?
Thanks.
If you perform well, nobody will care. If you're at the bottom of your class, some might be tempted to say 'look at this kid's background, this isn't surprising.' What you do at work will always trump what you did at school.
people will judge you primarily by how good of a worker you are. when you're at one of these firms, you realize really quickly that there are some people with extremely prestigious degrees who are literally dumb as rocks. others who aren't as dumb, but still people you don't want to be working with, because they've got their heads shoved so far up their asses they can't see daylight.
and then there are some with "bad" degrees who are extremely bright; and others with poor degrees whom you suspect only got there cuz of connections.
if you're hard to work with and not bright/capable of doing a good job, your degree will compound the issue. if, on the other hand, you aren't...nobody will care.
that being said, you'll still probably feel a bit of a chip on your shoulder. i definitely noticed it from some colleagues with your kind of background; but hey, everybody has their issues. i think it was mostly in their head, not in everybody else's.
the one caveat i would make is that i don't know how this changes your ability to rise to partner though, since that is mostly sales and convincing your clients to pay you 300k to do 3 weeks of work. at that level, having an impressive degree would help, i suspect, but i don't know.
Not sure who you think frequents these forums, but there are just as many "non-target" v. whatever. Look, most people searching for these jobs at the MBA or undergrad level are very ambitious and bright: true, a degree from a "top" institution makes you much more mobile (bigger alumni base, traditions, reputation, brand, etc.), but trust me, once you get into it, it is what you do that people will be reminded of.
I've only been working a couple months now, and already I've seen a kid from Yale get canned just as fast as a kid from Lehigh U. Maybe you won't know the same people, etc. but you can fix the background things by being personable, having a good sense of humor, etc. The prestige falls away fast if you can't show you can do the work.
Will my major hurt my chances of getting a job at McK/Bain/BCS? (Originally Posted: 02/25/2007)
Hey,
I'm a sophomore at Columbia and I'm looking at doing consulting after graduation. I'm planning on majoring in Poli Sci and Film Studies and I'm interested in going into entertainment consulting in Los Angeles (hometown). I've taken heavy sciences (Gen Chem), up to Calc III, and some stats. Will they not even look at me because of my major?
Thanks in advance
you can get an interview with any major
Won't matter.
thanks for answering so quickly...
as long as I'm asking...does anyone know anything about exit ops for people doing entertainment consulting?
Id assume working the entertainment industry...though I dont know if you can specialize that quickly right away at a big consulting firm, especially in a field as small as entertainment. Id assume you'd have to do your fair share of financial services, tech, etc consulting as well
and I agree...your major wont matter
Major doesn't matter much for consulting...unless your major was "Investment Banking Only"
For the record, major does matter. This thread is 8 years old. Much more competitive now.
Interested in consulting after undergrad - Double Major ?'s (Originally Posted: 08/28/2013)
I'm at a small, private university (non-target). I'm majoring in Finance and minoring in Computational Mathematics. I might be able to squeeze in enough hours for the double major, but it's obviously a huge commitment--more work and more emotionally demanding. I've got a 3.9 gpa right now. Assume my gpa dropped to a 3.8 with the double major... Would the double major be worth the extra work?
Just my opinion, and take it with a grain of salt as I am still in undergrad, but I think that you'd be better served by using the extra time you'd put into the double major into networking and hustling to make connections instead. Especially coming from a non-target.
That's the way I'm leaning... I appreciate the feedback.
No. GPA trumps anything else in consulting recruiting. Drop the double major, and you'll have a better GPA (most likely) and more time to network, prepare for interviews, etc.
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