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Does anyone know anything about Management Consulting?

post #1 of 31
2/28/10 at 4:12am
Thread Starter 
I'm thinking about using this as my Plan B if I cannot get Investment Banking. What majors typically get this jobs, and what skills do they want you to have? Are these jobs you can get straight out of college?
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post #2 of 31
2/28/10 at 4:27pm
As with IB, a rather significant factor in placment to top-tier consulting firms is whether you come from a 'target' school or not.
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post #3 of 31
2/28/10 at 8:44pm
If you're asking questions like those, I think you need to do some serious independent research. Nevertheless, I'm procrastinating and will therefore drop some knowledge (like it's hot).

As with banking, there is a hierarchy of consultancies. The top three are McKinsey, Bain, and Boston Consulting Group, all of which offer comprehensive analysis. After that come a myriad of others, generally with industry-specific foci. Accenture, which focuses on healthcare, tech, and pharma is a good example. There aren't "league tables" the way there might be for a bank, but once you've identified your target firms, I'm sure you can find information about how each one operates.

The ones mentioned recruit on-campus at target schools and are competitive with the banks. Though it's not a hard-and-fast rule, consultancies tend to be more interested in problem-solving (an ill-defined concept to be sure) while for entry-level positions, a bank only cares that you had a good GPA in a quant major.

I have no idea how much recruiting gets done at non-target schools, so I can't help you there, but in the way of requirements, coming out of school, the two imperatives are: a good GPA in a quant major (or a really good bullshit story about why you didn't take math) and a summer internship in a relevant industry after your junior summer.
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post #4 of 31
2/28/10 at 9:51pm
Thread Starter 
A lot of the work is math-based? From reading that it sounds like you need to be able to communicate and think logically. http://www.usnews.com/money/careers/...onsultant.html
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post #5 of 31
2/28/10 at 10:08pm
A stint at McKinsey/Bain/BCG will get your career off on the right foot, for sure. Working in banking, I find that colleagues who did consulting after undergrad have a better grasp on operations and are generally more useful on the road.

Recruiting is the same meat-market as banking. It's all GPA and SAT. Attending a target school is a prereq. No one will remember your case interview unless you completely wow them or botch it, so just get your GPA over 3.8.

If you aren't Ivy and have less than 1400 on the SATs, best look for other options.
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post #6 of 31
2/28/10 at 10:19pm
Thread Starter 
Quote:
Originally Posted by Pennglock View Post
A stint at McKinsey/Bain/BCG will get your career off on the right foot, for sure. Working in banking, I find that colleagues who did consulting after undergrad have a better grasp on operations and are generally more useful on the road.

Recruiting is the same meat-market as banking. It's all GPA and SAT. Attending a target school is a prereq. No one will remember your case interview unless you completely wow them or botch it, so just get your GPA over 3.8.

If you aren't Ivy and have less than 1400 on the SATs, best look for other options.

Is a 3.8 GPA necessary if you attend a target or is that if you attend a non-target?
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post #7 of 31
2/28/10 at 11:13pm
One of my good friends here just got a full-time offer at BCG after he graduates. He's a FNCE/BPUB/PSCI triple major with like a 3.9, to give you an idea.
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post #8 of 31
2/28/10 at 11:26pm
Thread Starter 
Does he go to a target?
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post #9 of 31
2/28/10 at 11:27pm
Quote:
Originally Posted by CuffEm View Post
Does he go to a target?

Yeah...probably one of the top 3 targets.
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post #10 of 31
2/28/10 at 11:31pm
I know you'll be the first one with your back against the wall when the revolution comes.
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post #11 of 31
2/28/10 at 11:36pm
Just to add, I disagree with Pennglock about some of his comments on recruiting: A high GPA will get you an interview, but after that, it's all up to your interview; resume all but goes out the window. They won't hire someone with a mediocre interview even if they have a 3.9 and 1560 SAT, because chances are someone else with a 3.9/1550 actually did have a good interview...and they'll just hire them.
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post #12 of 31
3/1/10 at 12:15am
Thread Starter 
Why would they be looking at SAT scores? I'm going to take the GMAT my junior year of college, so would they look at that instead?
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post #13 of 31
3/1/10 at 12:33am
Quote:
Originally Posted by CuffEm View Post
Why would they be looking at SAT scores?

Because they want to hire smart people?
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post #14 of 31
3/1/10 at 12:49am
Quote:
Originally Posted by CuffEm View Post
Why would they be looking at SAT scores? I'm going to take the GMAT my junior year of college, so would they look at that instead?

Why would you take the GMAT in your junior year? No reputable b-school will accept you without a couple years of work experience...unless you think you're getting in Harvard 2+2.
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post #15 of 31
3/1/10 at 12:57am
Quote:
Originally Posted by leftover_salmon View Post
Just to add, I disagree with Pennglock about some of his comments on recruiting: A high GPA will get you an interview, but after that, it's all up to your interview; resume all but goes out the window. They won't hire someone with a mediocre interview even if they have a 3.9 and 1560 SAT, because chances are someone else with a 3.9/1550 actually did have a good interview...and they'll just hire them.
^what he said. Grades/resume gets you an interview (maybe). But after that it's all about the case, the case, and the case (and the fit to some degree). Trust me, I've been through quite a few of them...
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