2/17/10

So basically I just got done going through recruitment for summer analyst positions with Investment Banking. Despite 3 super-days, I didn't end up for an offer. But I also applied to Bain and didn't even get an initial interview.

Right now I'm interning with a Merchant Bank. He does some M&A advisory and some principle investing. I could stick with this for the summer but I definitely feel that there are better oppourtunities out there.

The more I think about it and the more I talk to people I'm really leaning towards a career in consulting over banking. So with that said, what kind of internship should I be looking for this summer since I won't be getting one with consulting or any bulge bracket/significant MM or boutique investment banks. I could always shoot for some really obscure local boutqiue investment banks.

What sort of summer internship will impress consulting recruiters from MBB the most?

Comments (30)

2/17/10

Impressive performance in an elite position / group in an organisation that everyone knows. You can apply this to any private / public sector entity.

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2/17/10

Same as m2.

Remember that MBB is harder than BB, so you really need to stand out. The advantage is that they're looking for people with diverse backgrounds.

2/17/10

So I shouldn't bother with local small boutique investment banks then?

2/17/10

when you are young an applying for undergrad positions, name matters more than what you did.

If there is any way you can land big names on your resume, I think you can BS what you did there to have your resume selected. Once you get the interview, its (mostly) about nailing the case.

You mentioned Bain, did you apply BCG and Mckinsey?

2/17/10

How does the Nielsen Company rank in terms of 'name prestige?'

2/17/10
Rana Clamitans:

How does the Nielsen Company rank in terms of 'name prestige?'

bump for my question

2/17/10

Bain was the only one that recruited at my campus. Going into the process I put most of my focus on banking and as such neglected to apply to boston consulting and mckinsey since I felt the odds of being picked out of the online applications were slim. (I know I should have done it anyways). I also didn't have access to any alums at those organizations to network with.

Would something as mundane as a summer internship with NBC's finance division be worth it? NBC is a large name though I'm sure the actual internship isn't anything spectacular.

2/17/10
GibsonLA:

Would something as mundane as a summer internship with NBC's finance division be worth it? NBC is a large name though I'm sure the actual internship isn't anything spectacular.

In my experience with them, NBC interns do absolutely nothing of purpose and create no transferable skills for non-media industries.

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2/17/10

list the consulting firms that recruit at your school in addition to bain

apply to all and decide when u get offers

2/17/10

Only Bain, Mercer, and Deloitte Consulting

Which is odd considering every single BB, boutique, and middle market bank recruits here

2/17/10

C'mon - you really think MBB consulting is harder than getting into MGM-Blackstone banking? Yea, I don't think that's true.

2/17/10
kennethlchen:

C'mon - you really think MBB consulting is harder than getting into MGM-Blackstone banking? Yea, I don't think that's true.

What is "MGM-Blackstone banking"? I assume you were referring to the below, and that when you said MGM-Blackstone banking, you simply meant BX?

maxc:

Remember that MBB is harder than BB, so you really need to stand out. The advantage is that they're looking for people with diverse backgrounds.

In which case, both of you are correct. BX is not a BB, so irrelevant to the statement; BX is more selective then MBB, but MBB is more selective than BBs. You're not getting either MBB or BX with <3.8, while a 3.5 (or lower) is fine for BB IBD.

Rana Clamitans:
Rana Clamitans:

How does the Nielsen Company rank in terms of 'name prestige?'

bump for my question

Nielsen is not really that selective and certainly won't put you over the edge, but MBB will also look at you if you have outstanding experience in some other way; I know guys who are at McKinsey with no prior work experience, but they knocked everything else out of the park: GPA, SAT, extra-curriculars, etc...

2/17/10
drexelalum11:
kennethlchen:

C'mon - you really think MBB consulting is harder than getting into MGM-Blackstone banking? Yea, I don't think that's true.

What is "MGM-Blackstone banking"? I assume you were referring to the below, and that when you said MGM-Blackstone banking, you simply meant BX?

I think he meant Morgan, Goldman, Merrill. Dated view on what was once perceived as the top 3.

2/17/10

Try to land the best internship you can, but at the same time it's really not a huge loss if you don't work at Morgan Stanley or something. If you were good enough to get to 3 BB superdays you'll probably be good enough to get a FT interview, especially considering how much harder it is to get an MBB SA position.

Just FYI, I took an MBB FT offer with a summer internship that virtually everyone on WSO would sneer at.

2/17/10

3.3 alum got into MBB.

2/17/10

any elite firm... MBB people act nice but have gigantic egos and pride themselves on being better than you. You'd really need something elite to impress them... but u don't have to impress them to get a job offer.

=========================================
We are excited to formally extend to you an offer to join Bank of Ameria

2/17/10

is it just that my school is really liked by these guys, or is mbb difficulty really overhyped on here, at least in terms of getting an interview? i know a dude with a 3.3 and really shitty experience who got mbb offer, another who literally spent junior summer taking classes and not working, someone who worked in back office at a bank, and a bunch of other bs. gs/ms/jpm/elite boutiques are way harder.

these guys interview a ton of people and from that point it all comes down to your case.

2/18/10

It is overhyped. I think the reason many people think that it is insanely difficult is because they see crazy smart super resume guys get rejected.

And you are right, it is because of the case. From interviewing, fit is only maybe 10-20%; if you don't nail your case you are toast.

2/18/10

Generalist firms hiring for generalist roles (MBB/D) are pretty agnostic about functional background and coursework. They are looking for a proven track record of success, analytic ability, communication skills, team orientation, and leadership potential. For functional practice roles (McK BTO, McK Ops, ACN tech, Del tech) and industry (vertical) practice roles (Strat&, PwC), relevant experience and demonstrated interest/passion can be pretty important.

2/18/10

brj:

Generalist firms hiring for generalist roles (MBB/D) are pretty agnostic about functional background and coursework. They are looking for a proven track record of success, analytic ability, communication skills, team orientation, and leadership potential. For functional practice roles (McK BTO, McK Ops, ACN tech, Del tech) and industry (vertical) practice roles (Strat&, PwC), relevant experience and demonstrated interest/passion can be pretty important.


This exactly
2/18/10

This will not be the answer you are looking for, but if it was me I would be spending my time studying the GMAT and doing whatever else it takes to make me competitive for a top MBA program. It's something you will need after a couple of years in MBB/tier 2 anyway.

2/18/10

Thanks Hopkins!

I'm already done with GMAT, aiming at top 5-7 MBA down the road. But thinking that working at big 4 will not get me to top 5-7 MBA program. Hence, once again looking into management consulting.

2/18/10
titita:

Thanks Hopkins!

I'm already done with GMAT, aiming at top 5-7 MBA down the road. But thinking that working at big 4 will not get me to top 5-7 MBA program. Hence, once again looking into management consulting.

In my opinion, you have more control over your chances of getting top MBA then consulting than consulting now. Much better opportunity to build and tell a great story whereas I'd bet you wouldn't even get an interview now at MBB. There is no constant inflow of exp hires at the firm I work for. At your tenure it is even more rare.

2/18/10

Probably reviving a near dead post, but I'm curious: how have you gotten along in your recruiting efforts so far? The reason I ask is because I am also trying to break into consulting after working a year. Thus, I am considered an "experienced" hire though I will be applying for an entry level role.

2/18/10

Hey I'm still actively contacting everyone in my network, reaching out to alumni, etc. to sort of get a feeling of what my options are. And for most firms, you'd have to start from entry level, which isn't really a problem for me since I'm switching industry.

I haven't really applied to any places yet, but will start doing that soon. Your progress?

2/18/10

1 year at Big 4? I suspect you won't be an experienced hire but be applying like any new graduate.

2/18/10

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2/18/10