Hi everyone, hope you are all doing well in this coronavirus season. Wanted to contribute to the community during this time with a Q&A. I imagine many of you consultants or college students are at home chilling, so thought this could be an interesting use of time. Open to answering all sorts of questions about life in MM PE, my time at MBB, transitioning from MBB to PE, college to MBB, etc. I hope this is a helpful discussion on this forum. For some brief background - target university, 2 years at MBB, and now towards the end of my first year as an associate at a MM PE firm in the US. Pretty
30 Apr 2020
This is the age old question. Here is my quick take on it. Happy to answer any questions about my experience or anything on your mind. Here it is, Banking vs. Consulting, an overview. #### Skills/Training: Banking: A slightly narrower but more focused skill set: quantitative and modeling focused. By the end of it, you'll be an expert at valuation and typical models like M&A, LBO, and capital raises. Consulting: Broader skillset. By the end of it, you'll get very good at structuring an ambiguous business problem, identifying a path to solve it, figuring out data and information needed
25 Jun 2020
Five years almost to the date, I was fired from Oliver Wyman (after 11 months at the firm, straight out of ugrad). This is when I'd walked into the year-end review genuinely thinking I'd be told I was promoted. There are a few words one never forgets, and the sentence that'll stick with me forever was "based on a few factors, but primarily your performance, we are moving on". No "sorry to say, but...", even. I was shown a few spreadsheets showing how I did vs my peer group. I scored poorly across 8 of the 14 metrics, and was average in all others. Out of the 8 metrics in which I scored poorly
03 Jan 2017
I've been sitting on this post for a while. I was waiting for it to turn into a success story; started-from-the-bottom-now-we're-here kind of story. But it's been so long I'm going to post it anyway. ###My Background: Finance degree from non-target, super involved on campus, extracurriculars, case comps etc. Worked my ass off to somehow maintain a 3.9 GPA. Managed to land a couple solid internships. I'm also well on my way through the CFA program. ###My Story: I've been on the job hunt for quite a while now. My school has no alumni in finance. My approach has been to apply to jobs
19 Jan 2020
Hi friends. Recently left MBB after spending 2 years after college there. Always thought it was helpful reading Q&A when I was a student thinking about career-pathing, so wanted to offer this up. Busy in a new job, so will respond when available and might close this thread up early, but for now, please ask away. For context: Target college MBB big US office Based in the US Obviously please keep questions professional and I will try to provide as much insight as possible. Won't reveal anything though that is too personal. Still care about anonymity.
19 Sep 2019
Hey Everyone, I'm a second year analyst at LinkedIn in the Strategy & Analytics rotational program. S&A is a unique 2-year rotational program that allows analysts to rotate between functions such as Business and Product Strategy (BizOps), Corporate Development, Sales Operations, Product Marketing, Data Science, and more. Check out the website to learn more (I can't post links but just Google the program) ####A bit about me I've always been interested in strategy, technology, and startups. I was about to work in consulting, but then this opportunity came up and I couldn't pass it up. 2 years
15 Jun 2019
For the past ~2 years I have been working on positioning myself to break in, only to find that working 0800-0200 every day is just not for me. I used to have hobbies, interests and a life outside of work, and am just feeling absolutely depressed doing these hours for 4 weeks straight now (in an office I don't really like culture-wise). I wouldn't mind working 60 hours a week and more on occassion, but 80-100 every week is just not what I want to do. The main problem is that I have no idea what else to do if I won't go into ibd. I like doing analytical work in a deal setting or advising
02 Nov 2017
It's summer time and many of you out there are likely in your first internship with a consulting firm. Here are 5 things I found to be helpful in converting my internship into a full-time offer: #### Demonstrating core attributes / skills: 1. Coachability: you don't have to know everything day one, it's definitely not the expectation. However, I think it is important to show that you're coachable and are willing to receive feedback and learn / grow from it. Consulting is generally an apprenticeship model where you learn from coaching and guidance you receive from your teammates and team
25 Jun 2020
Hey guys, An undergraduate I am mentoring sent me a link to a Q&A from this site from someone in business school. I was reminded that I was using this site 9 years ago in 2006. Back then I still hadn't accomplished much. Through focus. belief in myself and failing MANY times, I've built the career of my dreams. I am now at the point where I have amazing options and the hardest part is determining where and how to spend my time to stay focused on my life goals in the future. Back as a senior in college, I applied to over 100 consulting firms and ultimately got rejected from every single one. I
12 Apr 2016
I looked at some employment reports of top 15 bschools during 2012-2017 and this seems to be the trend. For example, Columbia, a finance powerhouse, had 55 graduates heading over to McKinsey in 2017, while that figure for Goldman Sachs was only 8! The top 5 recruiters in 2017 were McKinsey, BCG, Bain, Amazon, and Deloitte. In fact, across top 15 bschools, the percentage of MBAs who went to IB in 2017 is only 5-10%; for consulting it is 20-30%. Now, I understand that: 1. Maybe half or more of those heading to MBB had their MBA sponsored -> they were just coming back 2. BB IBs get most of their
16 Sep 2018
I want to preface this by asking if anyone has been to either of these schools. If you have, please PM me! I am currently a senior in highschool and was accepted to the Business Honors Program at UT Austin as an out-of-state applicant and NYU Stern. I was pleasently suprised with both acceptances. However, I applied Early Decision to NYU Stern before getting the UT BHP decision. Now, I have until the end of this month to decide (I have the option of pulling out for financial reasons. NYU made it easy). UT Austin will cost me about 80k less than NYU, and if I get residency, it will about 170k
18 Feb 2020
So far this is how I have it. From my understanding, school prestige doesn't matter nearly as much for accounting as it does for IB, and Big 4 recruiting is extremely regional. So I've concluded that my best bet for undergrad is to save money with my education while trying to go to school in New York City. That said is this a feasible plan: For undergraduate, I'd study accounting at Baruch mainly because of its ideal location. I'm motivated so while there I'd join relevant financial clubs, do tons and tons of networking, maintain a high GPA, and try to pick up an internship at a Big 4 firm
27 Mar 2018
I've seen a lot of questions about salary progression and exit-ops salaries for ex-consultants. I found this, it is very helpful. Here is the study.
09 Feb 2015
Hello everyone, I'm currently a third year Italian undergraduate student at Bocconi University, interested in starting my professional path in London IB but that would also be interested in Consulting (most likely in Italy) I'm considering several choices for my masters, and I'm not excluding MiMs from top schools. I was wondering what do you guys consider to be the most attractive alternative and the one providing more optionality with regards to picking IB and MC. I also want to understand if a one-year program is worth the price, given that i have some professional experience (in a PE fund
14 Mar 2020
Hello, I am currently a consultant (MBB) and have accepted an offer to join as a Pre-MBA associate for a lower middle market PE fund next summer. What do you you think is the best way to prepare for the modeling component for my new job? Since I am a consultant, this is what worries me the most; I still have a ton of time until next summer though. Are there any websites / modeling guides you all would recommend? Additionally, if there's any other advice you all have for preparing for a job on the buyside as a consultant, it would be most helpful. Thank you!
23 Oct 2018
I was recently reading a couple of books – Rise of the Robot by Martin Ford and Humans Do Not Need Apply by Jerry Kaplan. Both books share insights on the demise of both the industrial and knowledge eras. Both books provide key themes and stark warnings about the future of automation and its potential impact on humanity as we currently know it. Examples cited in the books: Artificially intelligent systems double in capacity every two years. AI drives cars, runs restaurants, writes articles, creates original art, composes symphonies and builds houses – and that's just the beginning. In stock
29 Mar 2017
Happy to answer any consulting-related questions. I'm currently being sponsored by Deloitte S&O for my MBA. In consulting I focused on M&A in Europe and the US. I also led campus recruiting at two undergrad institutions.
10 Oct 2015
Which masters would would maximize my opportunities/Which one would you choose? Career-wise, after 2 internships in IB (Central-European MM IB) I would like to move towards either Consulting, PE, or AM/HF, which I know are miles apart from each other, but couldn't make up my mind until now. Thanks!
03 Jul 2020
Hi all, Been using this site throughout my college career, and it's really helped me out so I think it's time to give back. I love reading success stories on the site, especially non-target ones, so I thought I'd share my own in order to help others who are trying to get jobs, especially you non-target guys. I go to an undergrad business school that has very little recruiting exposure for the kinds of jobs we talk about on this site. Most students go on to work for BB BO roles or B4 audit. Most don't know what MBB is, or what an IB exactly does. Fortunately, I learned about these things
20 Dec 2014
Objective from a master's program: consulting or finance Would appreciate your opinions on the following programs. First Tier Programs University of Warwick: ○ MSc Economics Imperial College London: ○ MSc Economics & Strategy for Business Erasmus University Rotterdam: ○ MSc Strategic Management University College London: ○ MSc Management Imperial College London: ○ MSc Management Second Tier Programs University of Edinburgh: ○ MSc Economics London School of Economics: ○ MSc International Political Economy Erasmus University Rotterdam: ○ MSc Strategy Economics Oxford: ○ MSc Economic and
10 Apr 2020
Hey all, I made a burn account so I can share a story of sub 2.5 gpa student getting offers from multiple MC firms including one from MBB. Firstly, I'd like to preface this by saying that my purpose in 5 years of college experience was to experience as many and different things as possible. I attended a very strict all boys prep school throughout my entire life starting kindergarten, graduating with high honors (rank 5 out of 120 graduating class) with 2300+ SAT and double digit number of AP courses taken. I just simply wanted to stop studying like a damn machine and experience as much crap as
04 Oct 2015
Hi all, What is Oliver Wyman's reputation? I understand they are a tier 2 consulting firm, but others have said that they compete with MBB in certain industries. It seems like this is more of a boutique consulting firm as it is a lot smaller than others. I know they have a global staffing model which is a bit different than others. Is OW prestigious? What are the exit ops from working at OW? What's the culture like? Thanks everyone!
30 Aug 2018
In the coming weeks, I will be leaving Deloitte S&O after just under 2 years on the job, to join the corporate strategy group at a retailer. Since this forum was very helpful to me as I was seeking jobs in consulting, I thought I would give back by candidly answering questions about consulting and/or my experience at Deloitte. Will try my best to answer any and all questions, but will not provide any information that will give away my office location. My background: US News Top 15 University, Econ Major, 3.9+ GPA, did an internship at a boutique consulting firm before joining Deloitte Exit Opp
08 Mar 2014
Hello! I'm a rising senior at a target school interested in management consulting. I'm currently doing a remote boutique internship and planning to continue it through the end of the summer. I'm hoping to apply to larger firms in the fall through my school's recruiting program and then also online job portals. I'd really appreciate any advice on how to best position myself for this process. I've recently joined a consulting club at my school, started a business research assistant position, and have started doing case prep/informational interviews. Thanks so much!
29 Apr 2020
I'm interested in what people think the best training is for starting a search fund. I know that this is becoming a more popular career option for people out of business school. For graduating undergrads who plan on going to business school 3-5 years down the road, what do you guys think would be the best gig out of college if you intend to start a search fund after business school. I feel like the main options that people with this goal would consider are: * MBB consulting(you get to learn how many different types of management decisions are made, given coaching on "strategy", get exposure to
18 Apr 2020
Hi! So I am going to USD in the fall of 2020, but I recognize that it's not a target for MBB. However, what I have noticed is that a few USD graduates have made it in, and it appears that they were basically the best of the best. My goal is to pursue internships that will help me and to perform as highly as possible. I'm in the Honors Program as well. So, my main questions: What are some of the best internships for MBB in San Diego (or LA)? What should I be majoring in? (I'm planning to do an Econ-Finance Double Major with a minor in IT Management). I'm asking early so that I can plan ahead
18 Apr 2020
Why I chose to become consultant: I remember the exact moment that I decided to pursue consulting as a career path. I was entering my junior year in college and was exposed to consultants in a summer internship at a large telecommunications company. At the time I pursued a marketing internship aligned with my college major. For my internship, I worked with a marketing program executive who had just transitioned into her role after several years in consulting (I would find this out several years later). Even though I was an intern, she gave me full reign to run a couple of projects the
25 Mar 2017
Hi guys, The title is self-explanatory. I know that consultants are hired to solve problems that companies are incapable of solving or simply do not have time to deal with; but what problems are we talking about? Increase revenue? Reduce costs? Strategic planning? Could you share your experiences/past cases (maintaining the company's anonymity)?
11 May 2017
Does anyone know how to find a comprehensive list of private equity firms that have an operations group? Or does anyone know of any besides Bain Cap, TPG, and Blackstone?
29 Aug 2018
Let's say you're attending an elite MBA program, with around $150k of tuition costs sponsored by a tier 2 consulting firm (think Deloitte, OY, S&, ATK). Would MBB consider offering a loaded sign-on bonus (covering 50%+ of tuition) to entice such a candidate? Curious to hear if this is a regular occurrence.
06 Jun 2019
One of my biggest pet peeves is people giving bad career advice. It drives me nuts when I see worn-out cliches like this being passed on to ambitious young professionals. ![The only place where success comes before work in the dictionary.][The only place where success comes before work in the dictionary.] … … Well, no shit you have to work hard to succeed. So how does that help you solve a real, day-to-day problem that's limiting your success? In short, it doesn't. Most of the well-meaning career advice you get from your mentors, your friends, and your Mom is useless for one of two reasons: *
01 Dec 2016
Dear all, I am new to this community but not new to contemplating my exit from clinical medicine. I have been weighing pursing consulting or equity research in biotech/pharma/healthcare. I crave learning about innovative solutions in healthcare and medicine, creativity, being surrounded by more like-minded folk (patients and other doctors can be quite soul-sucking), and more critical and analytical thinking. I've seen physicians (even some former colleagues) cross over into equity research or managemetn consulting so I'm wondering what would sway one more to one side versus the other. I'm also
31 Oct 2017
Hi all, I am a practicing emergency medicine doc trying to leave the field of medicine. Though I could list all the reasons, I feel for now it is sufficient to say I have invested significant time into reaching this decision and am quite confident in it. With that said, I don't know how to get out! Long term, I do not know what I will pursue (and am not concerned yet - one step at a time). The best I am able to conclude, consulting would be the way to go at this point (and I have a lot of interest in it). I went to a mid-tier med school, did well there (top 25%), completed my residency and am
13 Dec 2016
So here is my situation. I am a junior at an Ivy, and have a very strong undergrad cv for finance. I help run an investment group on campus, and I have done a PE and BB IB internship. I am finishing up the BB IB internship right now. I have an offer for next summer at a top 3 BB IB. I've got ok academic performance (~3.6 social science). From my BB IB experience (after about a month) I have realized that there are aspects of the business which I severely dislike. And also that with my long term ambitions, consulting may be better at building my skillset. Lifestyle wise, I really hate
27 Jul 2020
Most people are skeptical of this program, as it is not following the classic prepa system. Will MBB/Tier 2 still target the program?
26 Jul 2020
Hi all, Jerry is currently a non-MBA 3rd year consultant at MBB Europe and wants to switch to a top-tier M&A investment bank (think JPM/GS/MS). Academic background: Non-business, but technical (think BSc+MSc engineering/computer science/maths). Non-target school GPA 4.0 and GMAT 770. Consulting background: Non-finance, mostly technology. How would he do that? Can he do it without having to quit his MBB job first (= avoid internship ...)? Location: English-speaking, whatever is most realistic. Entry-level: Analyst/Associate, whatever is more realistic. Cheers, Jerry
05 Jul 2015
Hi all, Currently deciding whether it's worth to interview with Credit Suisse's Private Funds Group (PFG) after receiving an offer from one of Parthenon/LEK. These opportunities are all for full time and I am thinking (although not set) on moving into private equity at some point in my career hopefully without an MBA. Any thoughts on the comparison and CS's FPG group in general? Thanks in advance.
29 Nov 2019
Interesting blog post from Fortune, which talks about how prominent PE firms such as GTCR are no longer requiring their associates to attend business school. Rather, promising associates are being promoted from within. A similar trend is happening at MBB consulting firms, which used to kick out pretty much every analyst after 2-3 years. Now, a lot of them are staying rather than going to b-school. Pretty interesting trend. I think the huge costs (tuition keeps going up while median compensation has barely budged) is definitely playing a major role here. In addition, I think the movement
13 Jun 2015
I'm an incoming freshman at a school whose business school is a target. I myself am not currently in business school, but I will try to internally transfer. Business/finance is a recently realized interest of mine. That being said, I have been quite fortunate as I some unique opportunities to pursue. I currently work in retail at the employee/company store at the number one sports apparel brand in the world. The store is right by the world headquarters. After doing some LinkedIn stalking, I found that a strategic finance manager, a business development manager, and a director of finance went
23 Jul 2018
I'd like to reach out to this forum for some advice, as I am currently in a tough position as I look to enter consulting. For a few months, I have been trying to enter the management consulting industry. I went to a target public school (top 15 undergraduate business school) and started my career with an oil & gas supermajor, supporting functions such as supply chain, procurement, and operations. I have been in this industry for ~3 years since completing my undergraduate degree. I am trying to leverage my supply chain experience & energy industry background to enter the consulting industry
07 Dec 2018
I am an incoming sophomore at a community college that will be transferring to either UIUC or Ohio State. At this stage, investment banking is not my first choice for a career but I still want to keep that door open before I nail down what I want to do. I'm thinking along the lines of consulting or IB, with long term plans of getting my MBA and then moving into private equity. I am from Illinois so from the surface UIUC is a no brainier as tuition is about half the cost of OSU. The caveat is that I don't have the right courses to be admitted to the business school at UIUC so my only option
18 May 2018
Hi All, I know it is pretty much a shoe-in for the M7 schools to place in MBB or other top tier consulting firms, but... How easy is it to land a management consulting role coming from an MBA Program at a Top 10-25 school such as UVA, Georgetown, Emory, UNC? How about international schools such as Oxford and Cambridge? What's the competition like for these roles? Are students at these schools all gunning for consulting or is it a mix? What specific firms should you target coming from Top 10-25 (assuming the chance for MBB is low)? What can make you stand out to ensure you land a spot in
26 Feb 2018
I come from an unconventional background (architecture) and would like to get into MBB. I am deciding between Columbia and Kellogg. I am from New York and prefer to stay in New York after MBA. That said, I feel Kellogg would give me a better shot of getting into MBB as it can leverage better my background. Any thoughts?
04 Feb 2019
Just want to get some thoughts from people in the indsutry. I currently have been consulting for about 3 years and just got an offer from a Real Estate shop in Phoenix, AZ.. I'll be coming in as a senior analyst and was offered 75k all in. I have 24hrs to decide according to HR. A little background about me, I'm a former athlete and love being in the sun doing activities. That's why Phoenix attracted me. I'm also in my later 20's/ single.. I would like to get some insight on individuals in the RE industry or Phoenix AZ finance market. Is 75k a fair offer? is there a strong finance presence in
09 Sep 2019
I am a sophomore at HYP, international. Have a 3.4 which is probably going to go down after this semester. I wanted to do consulting at MBB(Hoping for San Francisco) and I recently got an offer to work on a 5-month project in an international office for McKinsey(loads of networking). I honestly hate being in college so I was thinking would it be wise to take a leave of absence and work there? I have not been doing well in school because I have been disinterested so I thought this would be a good excuse to not do it. At the same time, friends and family are all super-critical about pausing
08 May 2019
Hello, I started 20 years ago in the retail brokerage space, went institutional asset management sales, for Fortune 50 (Think a large Rock) and Fortune 25 (rhymes with Pells Pargo). I completed my CIMA at Wharton, so it is not like I am intellectually challenged. I once applied for a position and they said, you are great, but you need a CFA® and an MBA to apply. Goal now set firmly in my head. I completed my MBA in Finance from #3 PMBA program, and then stayed another year for a double major in Strategy. I then passed Level I and bombed Level II, went back to school to complete my Masters in
05 Jan 2018
Hi, guys, I have a question that I am dying to seek for an answer. I am now an undergrad at Columbia and I want to apply for the summer internship in the consulting field next year (preferably MBB of course). But my education background is a bit unconventional: I have attended TWO colleges prior to Columbia and being academically dismissed from the FIRST one. I attended a top 50 (not gonna specify thanks for understanding) university in the States, but due to many reasons (first time living in a foreign country, wasn't capable of taking care of my self, hard time blend into the environment
31 Jul 2018
I currently have two different offers for a summer internship, one offer from PwC to intern in their Houston office as a management consulting intern, and the other from Exxon to work as an analyst on their up and coming trading floor. I have experience working on another energy trading floor, and know that I really enjoy the industry. It sounds like there's a variety of projects at PwC, but given my background there's a good chance I'd be working in their commodities trading/advisory practice or else on some oil and gas project. I'm posting this in both the sales and trading as well as the
19 Oct 2018