Q&A: 6 months into post-undergrad role at MBB
Hey everyone, Over a year ago, I made an Q&A after I received offers from 2/3 MBBs out of a non-target undergraduate school. That Q&A is here: https://www.wallstreetoasis.com/forums/non-target… Here I am again, 6 months into my new role. I just rolled off my 3rd project and figured I'd answer a few questions before I'm re-staffed.
Two quick topics to get out of the gates.
1) Were both your projects around 3 months? Or one longer and one shorter?
I'm particularly curious about what kind of work is involved in longer projects, such as (I presume) PMI or Transformation, vs the shorter ones (Strategy, New Product, DD, etc).
2) How much input did you have on your first staffing? On your second? Did your Partner-level interviewers remember you and ask to get you staffed on their projects?
1) So far I've been on 3 projects, which have ranged from 1 month to 3 months. My 1-month project involved creating a go-to-market strategy - lots of research on the industry, competitors, customers, and ultimately hashing out an initial 1-2 year game plan for the client. Our team set up the "blueprint" and then the client (or another consulting team) is meant to execute. This is probably your "traditional" strategy project.
My 3-month project was a complete diagnostic on one of the client's business lines and then figuring out what changes would be most beneficial in the long-run. Unlike my 1-month project, this project required me to completely learn how the business line operated. I spent several days observing the operations (from manufacturing to store-front), interviewing 50+ employees (from line to executive), and even played "undercover" boss in a few stores.
Generalizing, I think longer projects (often more operations focused) allow the consultant team to almost become part of the company. By the end of my 3-month project, I almost forgot that my clients weren't my coworkers because there had been so much collaboration. I think this is less-so the case with shorter projects. In these instances, the team truly acts as an advisor and then is finished. Obvious pros and cons to both.
2) To be completely honest, I probably had 0 pull on my first project. I had an hour coffee chat with my professional coach and then I ended up getting staffed in a random industry and a random function. But it makes a lot of sense when you think about it. You're essentially a full-on liability for your first project. You're providing very little value-add and your manager basically has to babysit you. The best tip I got it just to completely kill your first project. I came out of that first project with really good reviews and quickly transitioned to an industry that I was more interested in. I'm on a fairly good trajectory right now where teams are even reaching out to me before I'm up for staffing.
In terms of Partner relationships, I definitely know others in my analyst class that have been staffed with one of their interviewers. Unfortunately, all of my interviewers worked in industries that I was not interested in so there wasn't much alignment.
Very thorough and insightful replies.
Do you see much of a difference in the specific workstreams assigned to fresh post-undergrad hires and fresh post-MBA hires? Are both of you essentially not billable/billed at half-rates to clients for your first 3-6 months?
Do people take/request time off between cases?
Since you a priori knew what industries interested you and which didn't, what's your view on different industry verticals? The sense I have is that on the one hand, the more wallet share your particular consulting firm has in an industry, the better (more favorable to you) the terms of engagement are going to be; in parallel, the more profitable the industry, the less the client will squeeze you.
Or are there some industries that you just want to avoid? I remember older posts on WSO; one guy who was on Partner-track said that IG is the worst vertical (why though?), and another recently said that in his firm/office, FS has a bad rep and is avoided.
EDIT: How the phuck did this post get hit with monkey sh!t????
Hey thanks for doing this.
I am about to go into a consulting internship this summer. What advice or tips have you got for someone starting out?
Tons of other forum posts with tips so l'd recommend searching around. However, very high level - make sure that you're going above and beyond, especially at the start. Your first few projects are going to set your reputation as a team member and consultant. Better performance reviews and recommendations will give you staffing leverage (aka being staffed on projects that you're interested in).... you're more likely to perform well on projects that you're interested in... this will translate to better reviews... and the cycle continues.
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All of the main PE headhunters have reached out. Although to be fair, I think they send a fairly generic email to all top BBs and MBB analysts. Never followed through because I'm not interested in pursuing buy-side.
Going to be starting at MBB post-undergrad next year.
Any tips on navigating project assignments? Are the staffing professionals usually good at getting you on projects that fit you? Is it important to find partners to be your mentors?
Refer to my above answers on staffing. You're going to have very little pull for your first project so don't expect anything ridiculous off the bat. Make sure you kill your first few projects and "better" projects will naturally come. High profile projects are reserved for top performers.
Not necessarily. Yes it will help if you're interested in being staffed on that partner's projects, however I don't know many people at an analyst level that align with a certain team that fast (more common as you move up the ranks). My mentors range from partners to more senior analysts. I think there are various benefits at each level (e.g. I'm not going to ask a partner about excel tips).
Thx for the response. Is there a formal mentor system? Like will you explicitly ask people to be your mentors?
Thanks for doing this - very insightful!
A couple of questions: 1) Just out of curiosity, why are you not interested in the buy-side? And what exit opps are the other or prior analysts from your firm usually going for?
2) How technical is the work you're doing on a daily basis?
3) How has the traveling been your first 6 months? Do analysts get thrown into the fire right away with travel or it's dependent on the project/experience?
1) I just don't see myself going down an investment-related career track. To put it simple, I'd rather work within management/leadership at a designated company rather than acting as a 3rd party (often with alternative interests).
2) I'm probably not the right person to ask for this one. There definitely are heavy-quant projects (valuation, some DD's, analytics), however I haven't been staffed on one. I use Powerpoint a ton and I use basic functions in Excel. Big picture, I think you have a lot of leeway when it comes to molding how technical you want your consulting career to be (at least at an analyst level).
3) I'm in an office location that is known for its travel. Less likely to travel if you're in New York, SF or Silicon Valley, or a southern office - especially if you're trying to specialize in the geographic niche.
Very well done, this is a very impressive feat. If there is anyone deserving of a seat with a top employer, it would be guys like you.
I am planning to attend top 15 mba full time. Any advice for securing interviews coming from non M7 mba?? I hear MBB recruiting isnt very strong outside of m7. Also - what's your opinion on part time mba's regarding mgmt consulting recruiting? (Booth, Kellogg, Stern part time). I ask since I am trying to decide if going full time mba at lower top 15 mba would be a well calculated career move, over staying in my job and doing part time mba, due to financial reasons. I have strong GMAT score (750). Would this offset the potential disadvantage in consulting recruiting coming from a part time mba? I recently got accepted to non MBA business schools">m7 top 15 mba for full time, but I am not convinced that this is a better route than doing part time mba while keeping my job, if the non MBA business schools">m7 mba can't give me good odds of success with mbb recruting.
Also - do MBB consultants care about applicants' extra curriculars when screening resumes?
Lastly - any tips on case interviews/ brain teasers?? Besides practicing cases with others, is there any structured self study regimen you'd recommend?
Thanks and congrats on your career success so far.
Take everything I'm saying with a grain of salt - I'm not as familiar with MBA recruiting as undergraduate recruiting.
To be blunt, MBA business schools">M7 basically dominates 99% of MBA recruitment. The only exceptions I can think of are Michigan and Duke. And even those schools require you to be at the top of your class. I'm inclined to saying that a part-time at a MBA business schools">M7 would make more sense. I know that Kellogg part-timers have the same career services as full-times. You would still need to have strong stats to get an interview, but I think this at least gets your leg in the door when it comes to networking. I'll leave it at that, as again, it's not a topic that I'm too familiar with.
To answer your other questions - Yes, extracurriculars 100% matter. I don't know anyone who has gotten an interview who has only been involved with their job (military is an exception). - Make sure that you're recording your progress. A lot of people find casing daunting at first because they're literally blindly swiping and hoping they'll get better overtime. It rarely works like hat. If you make a mistake during a case, write it down. Before conducting your next case, look at all your previous notes. You shouldn't be making the same mistakes. Quick way of getting better is just minimizing your mistakes!
Thanks. Very helpful. Confirms some of my suspicion regarding MBB recruiting at MBA level. I have a college friend at MBB in their NYC office that told me NOT to do full time Top 15 MBA (non M7), at full sticker price, in my situation, if my goal post MBA is MBB / OW / ATK. The odds aren't too great, given the price / opp costs. Maybe I should just decline my offer at Top 15 MBA and then re-apply to MBA business schools">M7 next year.. if I don't get in, maybe just do a part time MBA at Kellogg or Booth while working??
I am currently working in middle office (operational risk mgmt) at a large hedge fund.. cleared 130k this past year. probably will clear 140k next year if I stay at this job. in my situation, do you think doing a full time MBA at non-M7 top 15 MBA makes sense, at sticker price, if my goal is high-end strategy consulting?? Just asking for an informed opinion / objective opinion from a MBB consultant...
Hello, thanks for your AMA. I'm wondering, is it usual (or at least no unusual) for an MSF/Master Econ to get into MBB as an associate consultant? Thanks.
I can only speak to my anecdotal experience, but there is not a single consultant with a MSF in my office (this could just be self-selection bias). Your undergraduate track record will probably be weighted more (strong school, good GPA, or both). To be honest, those degrees probably won't help you that much unless your school also has a strong undergraduate/MBA recruiting presence that you can leverage.
Thank you for your reply. I just got into UVA, still waiting for responses from Yale/MIT/Columbia. Based on what I've seen I think those are decent schools to get recruiting.
how is the worklife? I heard that being in a new consultant is exhausting and mentally draining is this true? I was also wondering if new consultants travel out a lot for most of the week?
I don't really think I'm in a great position to answer this question. I find it hard to believe that anyone is totally "burned out" after only 6 months. Probably more relevant to someone who has at least been here 1 year+. Most 1st years are still riding the high of even working here - unless they're completely hating the job.
More likely to travel if you're in a smaller city. Also more likely to travel if you start targeting projects that don't have a local presence. I don't think there is a defined correlation between tenure and amount of travel at an analyst level. It's not like a 1st year analyst will be forced to travel more than a 2nd year.
Hey, I've read through your other thread about the interview process and your thoughts back then. Now that you are 6 months working at your MBB, what advice do you have for the interview? Anything specific for experienced hire for post-undergrad role?
Lots of interview related threads + websites, so I don't really want to kill the subject. I think overarching - realize that the interview is meant to simulate a real work environment. You will be judged on how you structure a problem, how you tackle a problem, how you problem solve, how you interact with senior leadership (aka the person interviewing you), and a lot more. Practice the areas that you think you're weak in. In the same vein, make sure you figure out how to highlight the areas that you're particularly strong in.
Do you have any suggestions on resources to use to better understand consulting and its terminology as a whole?
Case In Point
Hi - I am from a target school, but my GPA is incredibly low, plus summer experience at MBB(different country as where I want to apply) and a 4 month contract experience at a commercial bank. I am wondering if you could share some advice on how should I break into MBB entry level. Thanks!
I think you need to give more context. What country are you in? How low is your GPA?
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