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Management Consulting Discussion - Page 30

post #436 of 497
Same at my firm. Almost all of the tax M&A people are lawyers. If you can't get into M&A then maybe look into transfer pricing. Just try to avoid something that's really specialized like international expatriate services or R&D credits.

Yeah, I have no idea why though that we lump business valuations under tax instead of advisory.
post #437 of 497
Quote:
Originally Posted by MSchapiro View Post

I'm in an interesting situation.

I landed an interview at my top choice MBB firm for their London office (currently doing a masters in the UK).

It didn't go particularly badly, but it wasn't flawless and the cases handed to me were very European (as an American there are some assumptions you won't reach nearly as quickly). In end I didn't make it to the final round, although the feedback I was given indicated they thought I should re-apply.

All of that said, I now feel I may be a better consultant in the US than in the UK. How do I reach out to US offices and attempt to secure a position, as recruiting season how now passed?

McK makes you wait a year before you can reapply after an unsuccessful application, i'm assuming Bain and BCG do the same. At your level, minimal if any recruitment is done off season and networking only gets you so far. Unlike finance where interviews are more geared toward fit and having built relationships with professionals really helps, the recruiting process at MBB is extremely fair and nailing those case studies counts for 90%+ of the hiring decision. Probably not much you can do but to wait for next year. BTW, London (along with NYC and SF) is much much more competitive to get into so if you can, i would advise to have a regional office as your first choice if you want to increase your chances of success.
post #438 of 497
About to leave my firm for new ventures, can't wait at this point...
post #439 of 497
Quote:
Originally Posted by akatsuki View Post

About to leave my firm for new ventures, can't wait at this point...

Do you mind my asking what you plan to do next?
post #440 of 497
Between a couple of different things right now - may go do found a startup, or just looking for investing opportunities that throw off cash and chill out a bit (e.g. rental properties in NYC).
post #441 of 497
Quote:
Originally Posted by kasper007 View Post


McK makes you wait a year before you can reapply after an unsuccessful application, i'm assuming Bain and BCG do the same. At your level, minimal if any recruitment is done off season and networking only gets you so far. Unlike finance where interviews are more geared toward fit and having built relationships with professionals really helps, the recruiting process at MBB is extremely fair and nailing those case studies counts for 90%+ of the hiring decision. Probably not much you can do but to wait for next year. BTW, London (along with NYC and SF) is much much more competitive to get into so if you can, i would advise to have a regional office as your first choice if you want to increase your chances of success.


Mhm, aware of all of this. Most of the firms don't actually enforce that waiting period unless you made it to interviews (especially since most people have multiple e-mail address).

 

 

I'm from NYC, so I'd want to go back there. Considering I had a London interview, I don't think NYC is out of reach.

 

It may be a very "fair" process (it's also subjective based on your interviewer), but in a crazily oversubscribed office like London it is heavily luck. Too many males or females or a certain geographic group being over represented may cause a candidate who would otherwise have been accepted to not be.

 

Networking tends to be the only way to get your resume actually read if you went to a non-target. I'm in a situation where I'm attending a top 10 global school, it's just not a target for MBB NYC. Going through the general pool no one will ever likely ready my resume.

post #442 of 497
Quote:
Originally Posted by MSchapiro View Post


Mhm, aware of all of this. Most of the firms don't actually enforce that waiting period unless you made it to interviews (especially since most people have multiple e-mail address).


I'm from NYC, so I'd want to go back there. Considering I had a London interview, I don't think NYC is out of reach.

It may be a very "fair" process (it's also subjective based on your interviewer), but in a crazily oversubscribed office like London it is heavily luck. Too many males or females or a certain geographic group being over represented may cause a candidate who would otherwise have been accepted to not be.

Networking tends to be the only way to get your resume actually read if you went to a non-target. I'm in a situation where I'm attending a top 10 global school, it's just not a target for MBB NYC. Going through the general pool no one will ever likely ready my resume.

i can't help but see a little contraction between these two statements. At the end of the day, you do what you want, but if you heart is set on NYC, given your educational background, i would think you would significantly increase your chance of success by targeting other east coast offices (philly, NJ, DC, etc) et requesting a transfer after a year or two. Actually have a friend who struck a deal to work in Philly office, but live in NYC (he does his friday office day in NYC). You'll be travelling non-stop anyway.

i'm in my final year of bschool and was heavily recruited by all 3 MBB for my home city (a regional office in NA) even though i have never shown any interest whatsoever in consulting (invited to cocktails, diner, HR wanted to organize calls with partners, invited for first round interview w/o applying, etc). Just to give you a little perspective, i was told that they would receive 10-20x the amount of equally good applications for NYC office as for regional office (my gf lives in NYC so i obviously had to inquire) so they had a oversupply of qualified candidate for NYC and often had trouble finding candidates of the same quality for regional offices (it's probably less true at the undergrad level, but still).
post #443 of 497

What you're saying is completely true for on cycle recruiting, but in recent years that difference has begun to really be eroded in major surrounding offices because people were aware of it.

 

Lately the trend has been more hit or miss with regional offices. It depends if they need a specific candidate with your skill set and often they recruit mostly from surrounding target schools (inthe case of the USA). If I had went to Oxford instead of my current school, this maybe would be less of an issue as the regional office may pick up on the brand.

 

All of that in a way is irrelevant. If I apply through the common online pool my application will just never be read no matter what office I apply to.

 

Hence my target office for networking is NYC. I obviously wouldn't say no to NJ or a surrounding regional, but there is no reason to target one over NYC (where I also know more people in the industry).

post #444 of 497
Quote:
Originally Posted by kasper007 View Post


i can't help but see a little contraction between these two statements. At the end of the day, you do what you want, but if you heart is set on NYC, given your educational background, i would think you would significantly increase your chance of success by targeting other east coast offices (philly, NJ, DC, etc) et requesting a transfer after a year or two. Actually have a friend who struck a deal to work in Philly office, but live in NYC (he does his friday office day in NYC). You'll be travelling non-stop anyway.

i'm in my final year of bschool and was heavily recruited by all 3 MBB for my home city (a regional office in NA) even though i have never shown any interest whatsoever in consulting (invited to cocktails, diner, HR wanted to organize calls with partners, invited for first round interview w/o applying, etc). Just to give you a little perspective, i was told that they would receive 10-20x the amount of equally good applications for NYC office as for regional office (my gf lives in NYC so i obviously had to inquire) so they had a oversupply of qualified candidate for NYC and often had trouble finding candidates of the same quality for regional offices (it's probably less true at the undergrad level, but still).

Just to update on this, I applied to a Knowledge Network analyst position for oil and gas in Houston figuring I go to one of the best oil and gas schools in the world and had analyst experience. Not even invited for a first round interview. Getting your resume read really is the hardest part of the common pool.

post #445 of 497

Thanks all!


Edited by yywwyy - 3/28/14 at 9:23am
post #446 of 497
Hey guys!

Recent graduate here from undergrad (Top 20) and i am starting at a small boutique management consulting firm. Unfortunately, I think I was low balled an offer (45k+bonus) when it was given to me. Given that I was just wanting to avoid the unemployment line, I took it. However, its very below the median for this position in this area (Atlanta). Given, I do well on the job, when do you think it would be good time for me to ask for a raise? (Or does this simply depend on my own judgement and tact of the situation?) There is a yearly review they said where significant yearly raises. But I feel thats a little too far off.

Note: I don't want to come off as an entitled brat, but in this case the salary is very low for a position in consulting. I think there was a bit of a knock on me because all the other analysts have masters degrees.

At the moment I'm still networking around looking at other firms as well still (thinking of trying to go to other firms). But I felt this position was a good place for me start off on (after being cut in the final rounds for the Big 4 and MBB)

Thoughts? Advice? All are appreciated
post #447 of 497

Minimum six months really.

 

It happens and it's not fun, but there isn't much that you can do about it immediately, especially if you signed already.

 

The problem is that it becomes really hard to ask for a big raise, even if its only bringing you up to the average, as it seems to be a really higher percentage. I've known some who have negotiated their way to a much better salary after a good performance, but many more who have had to lateral to another firm.

post #448 of 497
Quote:
Originally Posted by MSchapiro View Post

Minimum six months really.

It happens and it's not fun, but there isn't much that you can do about it immediately, especially if you signed already.

The problem is that it becomes really hard to ask for a big raise, even if its only bringing you up to the average, as it seems to be a really higher percentage. I've known some who have negotiated their way to a much better salary after a good performance, but many more who have had to lateral to another firm.

This.

Your best bet IMO is to knock it out of the park for a year, get some good experience, then try to transfer to another firm.

Once you are in with a firm, it's hard to get a big raise like you're looking for.
post #449 of 497
Quote:
Originally Posted by netseeker09 View Post

Hey guys!

Recent graduate here from undergrad (Top 20) and i am starting at a small boutique management consulting firm. Unfortunately, I think I was low balled an offer (45k+bonus) when it was given to me. Given that I was just wanting to avoid the unemployment line, I took it. However, its very below the median for this position in this area (Atlanta). Given, I do well on the job, when do you think it would be good time for me to ask for a raise? (Or does this simply depend on my own judgement and tact of the situation?) There is a yearly review they said where significant yearly raises. But I feel thats a little too far off.

Note: I don't want to come off as an entitled brat, but in this case the salary is very low for a position in consulting. I think there was a bit of a knock on me because all the other analysts have masters degrees.

At the moment I'm still networking around looking at other firms as well still (thinking of trying to go to other firms). But I felt this position was a good place for me start off on (after being cut in the final rounds for the Big 4 and MBB)

Thoughts? Advice? All are appreciated

The interesting raises often come when you switch employers, unfortunately...
post #450 of 497
Although its not unheard of for consulting firms to drop pretty big raises, especially on top performing junior staff that they want to keep around.

45k + bonus is low unless you get overtime (or the bonus is huge)...but after a year you can see where they go with it. If you can't get it to where you want it, you've got a year of experience to shop around with.
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