Management Consulting Discussion

Discussion in 'Business, Careers & Education' started by Artisan Fan, Feb 7, 2011.

  1. cross22

    cross22 Senior member

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    Thanks for fielding all of the questions AF.

    +1
     
  2. nerdykarim

    nerdykarim Senior member

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    Thanks for fielding all of the questions AF.
    +1. If we get this Atlanta meetup off the ground, I owe you a beer.
    Getting into a top ten business school would probably be needed for strategy consulting. Good work on Wall Street should position well for an application.
    Are there a lot of lawyers w/ MBAs who end up doing strategy (or human capital) consulting? I'd like to get into consulting, but my approach is going to be far from traditional. I'm currently a third-year JD/MBA with no real work experience outside of internships/summer work, so I'm wondering if I should try to get into consulting at an entry level (which would probably put me alongside a bunch of college kids) or work in the legal services industry for a few years and then make a play at senior consultant openings.
     
  3. gnatty8

    gnatty8 Senior member

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    Thanks for fielding all of the questions AF.
    +1, thanks Fran.. We bust your balls over this a good bit, but you're a good sport..
     
  4. Don Carlos

    Don Carlos In Time Out

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    +1. If we get this Atlanta meetup off the ground, I owe you a beer.

    Are there a lot of lawyers w/ MBAs who end up doing strategy (or human capital) consulting? I'd like to get into consulting, but my approach is going to be far from traditional. I'm currently a third-year JD/MBA with no real work experience outside of internships/summer work, so I'm wondering if I should try to get into consulting at an entry level (which would probably put me alongside a bunch of college kids) or work in the legal services industry for a few years and then make a play at senior consultant openings.


    You make a shitload more money climbing the ladder in BigLaw than you do in Big Three consulting. A shitload.
     
  5. ConcernedParent

    ConcernedParent Senior member

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    Do qual's ever get a shot? Or, at the very least, those with Econ B.A's as opposed to straight business degrees.
     
  6. Lord-Barrington

    Lord-Barrington Senior member

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    You make a shitload more money climbing the ladder in BigLaw than you do in Big Three consulting. A shitload.

    Not really. And partnership chances at the Big 3 are actually realistic, not like partnership at a V100 which is often nothing more than a mirage.

    I think both careers are terrible in terms of "work life balance". But at least there's a pot of gold at the end of the rainbow in MC that you can maybe attain AND the work is usually interesting. Big Law is almost never interesting and you mostly just grind away in a sweatshop for a few years and then peace out for in house work.
     
  7. nerdykarim

    nerdykarim Senior member

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    You make a shitload more money climbing the ladder in BigLaw than you do in Big Three consulting. A shitload.

    Not really. And partnership chances at the Big 3 are actually realistic, not like partnership at a V100 which is often nothing more than a mirage.

    I think both careers are terrible in terms of "work life balance". But at least there's a pot of gold at the end of the rainbow in MC that you can maybe attain AND the work is usually interesting. Big Law is almost never interesting and you mostly just grind away in a sweatshop for a few years and then peace out for in house work.


    I'm honestly not that concerned with making boatloads of money. The idea of consulting appeals to me a lot more than the idea of either litigation or transactional law (though I think that I would enjoy working in-house in a smaller firm as well) and I'm interested in strategy and human capital. Honestly, I'd be willing to apply for associate positions alongside college grads if I had a fair shake at working my way up the consulting ladder from there--I'm just not sure how a consulting firm would react to a JD/MBA putting himself in that position (probably negatively).
     
  8. Artisan Fan

    Artisan Fan Suitsupply-sider

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    Thanks for fielding all of the questions AF.
    +1
    +1. If we get this Atlanta meetup off the ground, I owe you a beer.
    +1, thanks Fran.. We bust your balls over this a good bit, but you're a good sport..
    You are welcome, glad to help. [​IMG]
    You make a shitload more money climbing the ladder in BigLaw than you do in Big Three consulting. A shitload.
    I don't think that is correct. I also think the odds are more steep against you for big law money.
    Do qual's ever get a shot? Or, at the very least, those with Econ B.A's as opposed to straight business degrees.
    Yes they do. Need great grades from a great school and interesting work/project experience.
    Not really. And partnership chances at the Big 3 are actually realistic, not like partnership at a V100 which is often nothing more than a mirage.
    Well said.
     
  9. Artisan Fan

    Artisan Fan Suitsupply-sider

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    I'm honestly not that concerned with making boatloads of money. The idea of consulting appeals to me a lot more than the idea of either litigation or transactional law (though I think that I would enjoy working in-house in a smaller firm as well) and I'm interested in strategy and human capital. Honestly, I'd be willing to apply for associate positions alongside college grads if I had a fair shake at working my way up the consulting ladder from there--I'm just not sure how a consulting firm would react to a JD/MBA putting himself in that position (probably negatively).

    I think you would have a shot at it. Get good at taking case study interviews and suggest your pitch should include that you learned problem solving skills in law school that are diiferent from a typical MBA perspective.
     
  10. Lord-Barrington

    Lord-Barrington Senior member

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    I'm honestly not that concerned with making boatloads of money. The idea of consulting appeals to me a lot more than the idea of either litigation or transactional law (though I think that I would enjoy working in-house in a smaller firm as well) and I'm interested in strategy and human capital. Honestly, I'd be willing to apply for associate positions alongside college grads if I had a fair shake at working my way up the consulting ladder from there--I'm just not sure how a consulting firm would react to a JD/MBA putting himself in that position (probably negatively).
    Based on everything I've heard about consulting, it's interesting work but a terrible lifestyle in the long run. Based on everything I KNOW about Biglaw (having a brother who works in a V10 firm) it's boring ass work coupled with a terrible lifestyle.
     
  11. Artisan Fan

    Artisan Fan Suitsupply-sider

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    Based on everything I've heard about consulting, it's interesting work but a terrible lifestyle in the long run. Based on everything I KNOW about Biglaw (having a brother who works in a V10 firm) it's boring ass work coupled with a terrible lifestyle.

    This is probably pretty close to the mark but the consulting lifestyle can be decent if not perfect at some firms.
     
  12. Plestor

    Plestor Senior member

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    Backgrounds of experienced hires are generally things like advanced math/statistics, risk management, law and MD degrees. Healthcare is a booming area as is healthcare economics.


    AF, how do you lure people from math/stats to consulting over quant jobs?
     
  13. Milpool

    Milpool Senior member

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    Yes, do an author search for Ethan Raisel.

    Will do, thanks.
     
  14. ramuman

    ramuman Senior member

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    I hope I can talk to you at the Atlanta meetup as well AF - both about stereos and consulting. I just signed an offer letter with one of the big three last Friday (we'll say the best, so not McKinsey [​IMG]). I'm an engineering Ph.D, but in retrospect, it wasn't too hard to pick up case interview skills. I just practiced a few times over beers with friends at Marlows in Midtown [​IMG].
    AF, how do you lure people from math/stats to consulting over quant jobs?
    My impression going through that process was that while it's generally a similar pool of people that apply to both (MBAs, MDs, JDs, Ph.Ds etc.), people generally have their heart set on either MBB or one of the bulge bracket firms. If you go through the process and have offers, you're much more likely to have a hard time picking between BCG and McKinsey versus Goldman and McKinsey. When I was considering career paths, I considered boutique finance firms, GS, and the MBBs. I never even applied to anything in finance and just went through the process with two of the MBBs - and picked one of those. I felt like consulting was more in line with what I wanted to do and would also help me get where I want to be five - ten years from now.
     
  15. Artisan Fan

    Artisan Fan Suitsupply-sider

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    AF, how do you lure people from math/stats to consulting over quant jobs?

    Higher pay generally in my experience and the opportunity to work on more exciting projects.

    One theme you see in consulting is that the pay is not the only thing. Many top performers also want a steep learning curve and want to be challenged.

    Pete Walker, a senior McKinsey leader, told a small group of us once during the dot com years that McKinsey would compete well on salaries but also had to offer unparalleled learning. Google was drawing away talent at the time.
     

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