[ad_1]
So, you’re asking your self, how do I get into consulting after my MBA? It’s a sound query. There are quite a lot of issues to love about consulting. The work is stimulating, the individuals are extraordinarily sensible, the exit alternatives are a few of the greatest and naturally, you’ll be able to’t neglect all of the factors and miles you get to earn from journey! However the lifetime of a guide isn’t all glamorous, the hours might be lengthy, and the calls for of the job are important. Though the trail to consulting post-MBA is a tried and examined path to make certain, additionally it is one which requires quite a lot of introspection and laborious work. Earlier than even fascinated about the method to get into consulting, you could first perceive what management consultants do. Let’s begin there.
What Is Administration Consulting?
Put merely, administration consulting entails groups of people that work collectively to unravel issues for purchasers that they couldn’t (or generally don’t need to) clear up on their very own. So, what precisely does that imply? Properly, possibly an instance will assist.
Consumer Instance
Your consumer is an automotive know-how firm with a community of 15 manufacturing amenities. They consider that that is too giant, however they don’t have anybody on the firm who can affirm that suspicion. Moreover, they’re extraordinarily busy with day-to-day operations and don’t have the sources mandatory to determine whether or not their manufacturing footprint actually is just too giant. To make the problem even harder, assuming the footprint is just too giant, they don’t know the way they alter it since their total provide chain is determined by their manufacturing capabilities. To resolve this downside, they attain out to you, a administration guide, and ask on your assist.
As a guide, you’ll work facet by facet with the consumer to know this downside and all of the context mandatory to start out making an attempt to unravel this downside.
What would you do?
First, you and your workforce will develop a speculation. In consulting, that is referred to as a “hypothesis driven approach” and is how most (if not all) administration consulting companies function – they start with the tip in thoughts. On this instance, a speculation is likely to be: “We consider that your manufacturing footprint is just too giant and is probably going outdated. As such, there may be probably a chance to shift manufacturing down from 15 amenities to 5-7”.
Subsequent, you’ll carry out a wide range of quantitative and qualitative evaluation and attempt to show your speculation proper (or unsuitable). Utilizing the immediate above, it’s possible you’ll need to begin by seeing what number of merchandise are made and if there are 5-7 amenities that would help the prevailing operations.
When you’ve come to a conclusion, you’ll current your findings to your consumer and make a advice. If you happen to discover, for instance, that there are 6 amenities which might be strategically situated in a manner the place manufacturing might be maintained, you would possibly advocate that the corporate endure a full transformation the place they shift current manufacturing from 15 amenities down to those 6.
To be clear, the instance above solely represents one instance of an issue administration consulting companies would attempt to clear up. Nevertheless, the everyday method of forming a speculation, performing rigorous evaluation to show your speculation proper (or unsuitable) after which recommending a plan of motion to unravel the issue, is one thing consulting companies do over and over. The issues consulting companies clear up are vastly completely different and include all completely different industries and features, together with operations (like the instance above) and mergers and acquisitions.
Resume + Cowl Letter Edits
- 2 Rounds of Edits every on 1 Resume and 1 Cowl Letter
- Digital go: 24 templates, 5 e-books
Black Belt
- 8 hours 1:1 Zoom classes with MBB coach of your alternative
- All entry go: 550+ instances, 10K+ math/construction drills, 9 video programs, 12 chatbot instances
- 2 Rounds of Edits every on 1 Resume and 1 Cowl Letter
Is Administration Consulting Proper For You?
So now that you understand a little bit extra about what consultants do, is it best for you? To begin, I consider when answering the query of whether or not administration consulting is best for you or not, you have to take an introspective method. What’s it that you’re searching for? Would you like a typical 9 – 5 job with repetitive duties that permit you to work alone out of your desk? In that case, administration consulting might not be the best match for you. If you happen to’re searching for a extremely variable profession path wrought with thrilling alternatives that require you to downside clear up and assume creatively on a day-to-day foundation, then consulting is likely to be match for you.
On the finish of the day, there is just one one who can reply this query, and that particular person is you. You need to begin by outlining your private {and professional} priorities and examine these to the job of a administration guide and if the 2 align, administration consulting is probably going profession match. The profession of a administration guide might be extraordinarily rewarding, however it will also be a grind for many who don’t actually need to pursue this path.
How To Get Into Consulting Submit MBA
If you happen to’ve decided that administration consulting is the profession for you, the following step is knowing the method for touchdown the job. So how do you get into consulting after MBA? Probably the most conventional recruiting path is to acquire a summer season internship between your first and second yr in an MBA program. However there are a number of ways in which consulting companies recruit.
Summer time Internship
Summer time internship recruiting for MBA candidates begins as early as late August or early September, which is roughly when college students begin faculty. The method entails three steps. First, the companies come to campus and start networking with all college students which might be concerned about consulting. Second, the companies transfer to smaller, office-focused occasions, a few of that are invite-only and a few of that are open to all college students concerned about a selected location. Final, is the interview section, which incorporates each behavioral and case-based interviews. Let’s stroll via every in a bit extra element.
On-Campus Occasions
When the method kicks off, the companies will come to campus and maintain giant networking classes that embrace a agency overview introduced by the recruiting workforce. This usually occurs in late-August or early-September and is open to all first-year college students who’re concerned about recruiting for administration consulting summer season internships. For college students, the target throughout these classes needs to be to start out assembly a few of the recruiting workforce members and to start out studying the variations and similarities of every agency. For instance, McKinsey would possibly discuss throughout these classes about their international tradition and spotlight a few of their many affinity teams. Importantly for recruits, this is a chance to begin to higher decide which companies are going to be a precedence on your recruiting journey.
Though networking continues all through the method, the following step is for companies to begin to section candidates into office-specific networking and occasion circles. For instance, Bain Chicago would possibly ship out a bunch of Chicago of us to your campus and host a small cocktail hour and dinner for candidates making use of to the Chicago workplace. For college students, this is a chance to be taught extra in regards to the office-specific tradition and to fulfill individuals who work within the workplace of which they’re making use of. Extra importantly, nevertheless, that is additionally a chance to discover a “sponsor,” which is solely somebody on the agency who’s prepared to advocate for you when interview alternatives come out. Having a robust advocate in your chosen workplace can go a great distance towards being chosen to interview so take these occasions critically and produce your greatest networking self!
Interview Invites
Final, however definitely not least, is the interview section. Usually, companies will attain out three weeks to a month upfront to tell chosen candidates that they’ve been chosen to interview. Interviews usually occur in early- to mid-January, which implies you’ll be able to anticipate interview selections just some weeks earlier than Christmas. At this level, a few of the companies you’re interviewing with can have full-time workers attain out and provide to do mock interviews with you. Although that is non-evaluative, you must take full benefit of this chance to make a fantastic impression. These will likely be particular, firm-tailored interviews as properly so that is your likelihood to see first-hand what an interview would possibly appear like at a spot like McKinsey, BCG, or Bain.
When you wrap up the interview course of, companies usually get again to you with presents or rejections in a single week or much less with some responding as rapidly as half-hour after the interview is full. If you happen to’ve taken the mandatory steps we outlined on the way to put together, you’re in all probability in good condition and will have fun! If you happen to had an off day throughout your interview or simply didn’t fairly put together sufficient, don’t fret. A standard manner individuals break into consulting is thru second yr recruiting, which is for a full-time position and occurs at first of your second yr as an MBA pupil.
See here for a complete list of application deadlines.
How To Put together For A Case Interview
Earlier than you’ll be able to land that coveted place at your favourite consulting agency, you have to discover ways to prep for the infamous case interview. Let’s begin by speaking in regards to the fundamentals.
Most case interviews have a comparatively commonplace format. You’ll begin with a case immediate that presents a enterprise query or downside. You’ll then be anticipated to current a framework for a way you’d method the issue earlier than you progress via some form of knowledge evaluation, which could possibly be supplied verbally by the interviewer or could possibly be a chart or desk that they present you. Both manner, you’ll probably have to do some quantity crunching and decide a possible resolution based mostly on this work. At this level, there may be usually a brainstorming session the place you and your interviewer will work collectively to speak about different potential options earlier than lastly wrapping up with a advice to your consumer.
It’s necessary earlier than you actually begin training that you just perceive properly how instances are structured. We advocate beginning with our case interview prep guide. After getting the fundamentals down, you could get some reps, so begin casing! However bear in mind, this isn’t a amount recreation, it’s a top quality recreation – high quality reps are much more necessary than brute forcing your manner via an enormous amount of reps. For prime quality reps when training instances, now we have three greatest observe suggestions for you.
-
Determine Weaknesses
Determine case weaknesses and deal with these in one-off observe. If you happen to understand early on that psychological math is difficult for you (it positive is for me) then work on psychological math outdoors of a mock case setting. This precept might be utilized to only about any a part of the case whether or not it’s frameworks, exhibit clearing, or suggestions.
-
Selection
Do plenty of several types of instances. If you happen to spend all of your time engaged on profitability instances, you’ll in all probability get actually good at these. However what do you do then in the event you get a market entry case on recreation day together with your dream job on the road? It is advisable to do mock instances in a wide range of industries throughout a wide range of completely different enterprise issues. Don’t get caught doing what’s straightforward, hold pushing your self by making an attempt new varieties of instances!
-
TRACK EVERYTHING
Constructing off the final level, make a tracker that reveals what industries you’ve executed, what varieties of issues you’ve mock cased and who you’ve cased with. If you happen to’re a first-year MBA pupil, you’ll in all probability case with a lot of your classmates in addition to many various second-year college students. It’s necessary to diversify who you case with because you received’t be casing together with your roommate if you interview on your dream job. Monitor all of the statistics of your case prep journey to make sure you are correctly diversifying your research.
Conclusion
Touchdown a job at a high administration consultancy is an unimaginable accomplishment and the profession itself might be extraordinarily rewarding and fulfilling. Nevertheless, the saying that good issues don’t come straightforward holds true right here. These jobs are aggressive and difficult to return by for a cause. We consider that in the event you use the ideas and methods in right this moment’s article, you’ll be properly ready for something these companies can throw at you. As all the time, we want you the perfect of luck in your search and hope that you just discovered this text useful.
Extra Assets:
[ad_2]
