Comments (41)

 
Nov 14, 2017 - 9:31pm

Acceptance rate for MBB (Originally Posted: 09/21/2017)

Does anyone know what the acceptance rate for each stage of application process is for MBB? Namely, what percentage are invited to first round interview, second round interview and extended an offer?

 
Oct 8, 2017 - 2:48pm

Based on the statistics for a T15 school for the MBB firm that I work at. I am involved in recruiting for that school:
~ 300 students applied
~ 15-30 received first round interviews
~ 5-10 received final round interviews
~ 2-5 received offers
Unlike many FS opportunities, my firm does not have a "set number of spots" that we look to fill when recruiting so it can vary greatly year-to-year. We extend offers based on candidates passing a certain standard in their interviews. Be at your best and at the end of the day, you're not really competing against others, you're competing against a standard.

 
Nov 14, 2017 - 9:33pm

Consulting - Difficulties of getting a job? (Originally Posted: 10/30/2009)

I know this is an IB board, but considering the difficulties of getting a job, especially from a non-target with a moderate GPA(3.3). I wanted to get some information on consulting. I'm currently a junior and getting a bit worried and would like to have backup plans.

Can anyone give some information on the recruiting processes and applications for summer internships / full time offers? How much less would the pay be?

Thank you.

 
Nov 14, 2017 - 9:35pm

These questions are much better suited for your career services office.

The summer internship recruiting season should be beginning in January. Now is the time to visit the office, polish your resume, mock-interviews (both fit and case), and educate yourself with some googling and searching on this board.

 
Nov 14, 2017 - 9:36pm

You want to look at smaller firms / boutiques for the summer. Unless you have a connection or good rapport with a premier consulting firm (MBB), the low GPA will most likely keep you out for the summer internship. But the type of work at other firms are similar, so getting the experience and network is what matters.

I know of countless, at least 20 people, personally who made the switch from a smaller firm to MBB for full time. Just focus now on researching firms, applying, and doing well on interviews to nab that internship.

Breaking Bankers, Chasing Consultants


Chase Us, Break In!
http://chasingconsultantsbreakingbankers.blogspot.com/

 
Nov 14, 2017 - 9:37pm

Re: the recruiting process

Most consulting firms begin recruiting in January/Feb for summer internships. That said, you should be preparing resumes / mock interviews NOW. I cannot overemphasize the need for preparation. Nailing the case interview is an acquired skill, and requires as much preparation as possible.

Network with alums and inquire on their consulting experiences. That will get your foot in the door as well, for when they review your resume they may recall your name.

If firms don't recruit at your school, you want to reach out to them in November / December (before they start recruiting at their target schools) and get early consideration. You can also do this via their websites.

Breaking Bankers, Chasing Consultants


Chase Us, Break In!
http://chasingconsultantsbreakingbankers.blogspot.com/

 
Nov 14, 2017 - 9:38pm

I'd be very careful with any assumption along the lines of 'the work is similar in smaller firms'. 'Boutique consulting firms' are often involved in BS consulting work such as process improvement etc., this is not comparable to what you'd do at MBB or tier 2 competitors at all.

 
Oct 11, 2017 - 9:59am

I can't speak for other schools but McKinsey targeted specific kids at my school. I was one of them I know there were only 4 they invited for first round interviews. We all got a second round and one got an offer. This is in a smaller city in the Rust Belt though, so take it with a grain of salt. I also got to second round with Bain in DC through purely a resume drop (and my resume wasn't amazing).

I would say generally if you get a first round interview there's a 50% chance you make it to the second round, then from that 25% chance of an offer, but that's purely a guess.

 
Oct 11, 2017 - 10:19am

OP might find this useful: https://www.reddit.com/r/consulting/comments/526ief/experienced_mbb_int…

mtmtm:

First round I usually do 10 in a day and send through 3 or 4. 2 on a really bad day, five on a really good one. There is no cap I've just never had more than five people worst sending through.
Decision round I average 5 in a day and send through 2. Have had days where that was zero and days where it was three. Again not because it's capped at three but I've never had five out of five stars.

Might be more selective for undergrad hires, not sure if that was taken into account.

 
Oct 11, 2017 - 12:53pm

At my top 5 MBA program, roughly 70-80% of those who submitted resumes to MBB got an interview with at least one of them. Not sure what the cutoff was like at each stage of the interviews, but roughly 30-40% of MBB applicants got at least one offer. My class sent 55 to McKinsey, 29 to BCG, and 35 to Bain.

Just to compare them to finance, we sent 14 to JP Morgan, 13 to Goldman, 8 to Morgan Stanley, 5 to Evercore, 3 to Greenhill, 3 to Guggenheim.

It also goes without saying that the bar is significantly higher for undergrad MBB than MBA hiring, in terms of pure brainpower and analytical chops.

 
Oct 11, 2017 - 1:24pm

AllStateRap:

Lol wait what? McKinsey hired 55 people from your graduating class?

Maybe I'm just misinformed but I always thought each of MBB would hire in the 10-20 range.

Yes. The numbers are directly from my school's career services employment report.

There's actually a big drop in MBB hires once you go from the M7 programs to the lower end of top 15. I think at schools such as Yale SOM/Cornell Johnson/UCLA, each one of MBB hires less than 10 from a given class. MBB is very pedigree driven, but the hard part at the lower ranked programs is getting an interview in the first place. Once you get it, the bar is pretty much the same across schools since the interviewers are looking for a specific type of response, framework, and the right questions. The one big difference I've heard from MBB friends is that at HBS and Stanford, MBB allows you to interview again for full-time even if you got rejected for an internship. At the other schools, they don't extend that courtesy. Not 100% sure if it's true, but it's from reliable sources.

 
Best Response
Oct 11, 2017 - 8:12pm

marcus2012:

You cant be serious...
The bar for BAs / undergrads is much lower, much easier to pass through with a mediocre profile and average case solving skills...

No offense, but you have no idea what you're talking about.

The % of undergrad applicants who get a MBB offer is significantly lower than that of MBA. The one area where the bar may be lower is that one of the factors used in assessing case interviews is business insight. Since undergrads don't have full-time work experience, interviewers are easier on that criteria. But the bar is super high. At the undergrad level, MBB does a pretty strict GPA filtering (the gpa cutoff is lower at the more elite colleges but not that much lower) as well as extracurriculars, leadership, etc. Most top b-schools, on the other hand, have grade non-disclosure, and MBB will interview a higher % of applicants than they do for undergrad.

 
Oct 12, 2017 - 10:45am

Let's be real... there are thousands of kids going to get MBAs (giving up 90k job, paying 200k) JUST for the chance of breaking into MBB. I'm not ashamed to admit that I couldn't cut it for MBB at the undergrad level.

The standards are definitely 100% higher at the undergrad level - they only take the best. And most get sponsored b-school as well.

 
Oct 12, 2017 - 4:54pm
Start Discussion

Popular Content See all

Received my PWP rejection email!
+90IBby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
Is Evercore the next Bulge Bracket bank?
+24IBby Intern in Investment Banking - Mergers and Acquisitions">Intern in IB-M&A
I got a top IB SA offer thanks to WSO
+17IBby Prospective Monkey in Investment Banking - Mergers and Acquisitions">Prospect in IB-M&A
Is Liontree the next bulge bracket bank?
+16IBby 1st Year Analyst in Sales & Trading - Equities">Analyst 1 in S&T - Equities
Virtual Summer Interns - which banks sent you WFH gear?
+14IBby Intern in Investment Banking - Industry/Coverage">Intern in IB - Ind

Total Avg Compensation

October 2020 Consulting

  • Principal (19) $274
  • Director/MD (41) $262
  • Vice President (27) $246
  • Engagement Manager (69) $215
  • Manager (117) $161
  • 2nd Year Associate (108) $138
  • Senior Consultant (248) $128
  • 3rd+ Year Associate (88) $127
  • NA (8) $120
  • 1st Year Associate (397) $114
  • Consultant (461) $114
  • Engineer (4) $110
  • 3rd+ Year Analyst (101) $105
  • 2nd Year Analyst (217) $95
  • Associate Consultant (125) $92
  • 1st Year Analyst (776) $84
  • Intern/Summer Associate (120) $81
  • Intern/Summer Analyst (343) $66

Leaderboard See all

1
LonLonMilk's picture
LonLonMilk
98.4
2
Jamoldo's picture
Jamoldo
98.3
3
Secyh62's picture
Secyh62
98.2
4
CompBanker's picture
CompBanker
97.8
5
redever's picture
redever
97.7
6
Addinator's picture
Addinator
97.6
7
Edifice's picture
Edifice
97.6
8
NuckFuts's picture
NuckFuts
97.5
9
frgna's picture
frgna
97.5
10
bolo up's picture
bolo up
97.5