Key things before applying

An overview of what consulting is, who should apply, what firms are seeking in candidates and how to begin building networks.

The role of consulting

Consulting refers to providing business advice on several topics including corporate strategy, operations, marketing, finance or technology. But what most people mean when they talk about consulting is management consulting. Management consulting is about solving problems of companies and institutions to improve their performance and maximize profits.

What a consultant really does

As an entry-level consultant, you are usually assigned to a project team for four to twelve weeks to help solve a specific problem:

• An oil & gas petrol company wants to increase operational efficiency in their Middle East sites

• A retail company wants to develop a digital transformation strategy to stay competitive in a changing environment

• A Government wants to design and roll out a new system to assign students to public schools

You will report to an engagement manager who sets project priorities, plans work and supervises you. You are given short deadlines to work on your workstream, which requires intensive data analysis, structuring a framework and reaching out to a network of experts to get inputs. Every few days you meet with the client to review progress, and every month your team has an executive meeting with the CEO and the management team discuss and approve progress. In the meanwhile, there is a high probability that you are living in a hotel from Monday to Friday and flying back home for the weekend.

Short overview of a normal day in the life of a consultant

Why consultants are valued

The job market does indeed love consultants. This is because:

(1) Validation: Getting this type of job is a tough, long process, so it acts as a stamp of approval validating that you are "smart" (the same effect seen with graduates from top universities), and

(2) Skill development: The day-to-day job is challenging and requires developing problem-solving, analytical thinking and communication skills fast (also called the "consulting toolkit").

There skills are relevant and transferable to most jobs in the market.

So basically, a successful consultant is a smart person (to begin with) who has proven their ability to work hard and develop rapidly in a tough work environment (and survived).

Consultants on average only stay in these firms for approx. two years. This is a "trampoline" strategy since employers in the market will eagerly welcome them with good job offers.

When consulting is good choice

Better (high-impact career move)

• (Career point) Starting your career, interested in moving up the corporate ladder fast

• (Career point) Want a 360-degree career change (e.g. you studied architecture, law or medicine and want to get into the business world)

• (Skills) Capacity to learn fast, determined (otherwise, you will not get in)

• (Attitude) Ambitious

• (Attitude) Willing to accept criticisms and realize you aren´t always the smartest in the room

• (Context) Went to university that is not very recognized among employees; need a validation "stamp"

• (Context) Few familiar and social commitments that require you to be very present (consulting takes many hours of your week); high availability to travel

• (Priorities) Want to make money fast to repay a loan (or something else)

• (Priorities) Comfortable knowing that many nights you will be working while friends and family are having fun (or sleeping)

  
  

Not so appealing

• (Career point) Already made it into a globally recognized company, such as tech giants like Google or Amazon

• (Career point) Already made it into a globally recognized university

• (Skills) Need time to digest and internalize data or information, or enjoy taking your time to digest

• (Preference) Don´t enjoy doing "good-enough" things fast, but prefer to deep dive into topics until you understand every detail (in this case, a PhD or other more specialized jobs are probably better)

• (Other) Being under pressure doesn´t get the best of you; you suffer from anxiety or similar conditions

Start building networks

You may think that professional or personal connections are not important to land a job at a consulting firm. "They have a standard process, so working hard should be enough". Working hard is indeed important, but working smart and getting more familiar with the process helps. A lot.

People coming from leading schools such as Stanford University in the USA or IESE in Spain have a direct recruiting pipeline with top consulting firms, so they are closer to the ones making decisions. These schools also give students access to Consulting Clubs and alumni networks involved in the industry.

If you are not part of these virtuous circles, you will need to work on building your networks to help you close the gaps.

For example, the business case is about applying a framework to a problem. However, you should not call your framework "a framework" in front of the interviewer. If your friend from high school is now a consultant, they will tell you this straightaway.

How to network?

These are a few simple things to start with:

• Investigate which firms you like the most (read here)

• Join the firm´s social media channels- useful to keep you updated on relevant events and applications deadlines

• Think if anyone you know has a connection working in consulting (these are valuable connections because they will be more prone to helping you)

• Ask your University HR team if they have relevant information, or contact information for any consultant in the alumni network

• Use specialized consulting websites to connect with other candidates (this is very useful to practice mock business cases - for example, Management Consulted and Case Coach have online communities).

• Join consulting groups in Facebook, LinkedIn, etc. They usually have good materials and tips

• On LinkedIn, check if any person in your network or people who studied in your university work in one of these companies - if so, reach out to them

• On LinkedIn, request to connect with people working for these companies (i.e. with analysts if you want to apply to an entry-level position) - a nice email can take you far (I have replied and even met in person to practice mock cases with people who randomly wrote to me)

• Participate in training events (here are some free events)

  
  

When you reach out to people you don't know (e.g. on LinkedIn), you can use a simple structure (below).

Don´t give up if some people don't respond. Wait 3-4 days and message one more time politely (sometimes they just need a reminder to respond). Some will eventually respond.

Hi [Name],

I hope you are doing well.

My name is X and I am studying Mechanical Engineering. For the last two years, I have been reading about the world of management consulting, and I am excited about starting to apply soon. I can see you made it to Y, one of my top options. I know you are busy, but if you have a few minutes, I would love to know about your experience in the recruitment process and any advice you may have.

Do you have 15-20 min to talk this week?

Thank you in advance!

A few more recommendations:

• Do research before reaching out to people

• Have your questions/ topics ready before any call/ discussion

• Avoid generic messages ("I have followed your career, and I am impressed")

• Use their time to learn (about the job, the firm, the culture), not to ask for a job

• Don´t only reach out to senior people. Entry-level people can give you more practical tips about the process; senior people can discuss more high-level topics such as corporate culture

• Have you elevator pitch ready - have an answer for basic questions such as "Why are you interested in consulting?" "When do you plan to apply?", and "What are your top options"?

• Be meaningful of their time - do not ask for more than 30 min in the first contact, acknowledge you know they are busy and never be late to an appointment

• Keep track of your connections - send "thank you" notes and keep them updated (very helpful if you need to reach out again later on)

Advice on how to network (by the way, I would start much earlier than just 4 weeks)

Advice on how to network

The website Management Consulted has additional reading on this.

Before applying

Getting into consulting is like running in a race. Why?

It´s highly competitive, it needs a lot of preparation, and you won´t win if you are not fully committed and dedicated.

So, before you start preparing, think if it is the right time and if you have the motivation to invest a lot of hours. If not, it may be better to wait.

Where to start?

• Be strategic about the timing

  Map the application cycles and deadlines for all the companies you are considering applying to. If this is your first try, start preparing two months before the deadlines. Once you apply, they can call you at any time to interview or do a test. You want to avoid being unprepared.

• Be constant

  Becoming good in consulting interviews requires many hours of preparation. Dedicate at least 1-2 hours per day, Monday-Friday, and 2-4 hours per day, Saturday and Sundays for a couple of months. This is just a proxy if you do not have experience in the industry or are unfamiliar with the process and need time to get ready. Each person is different, and you may need more or less time.

• Play safe

  • Begin the hiring process with the firms that are not your top choice. This way, you can practice real processes without risking too much.

  • Before you apply to your top choices, ensure you are at least 80% ready. They could call you back at any time.

  • Get to the point where you feel ready, and the mock tests/ interviews go well. If you don´t get it right most of the time, the chances that you do it better under pressure are low

  • Consulting firms usually "block you" for a period of time (i.e. one year) if you participate in the hiring process and do not get the offer. So be strategic and avoid "just trying to see what happens". We guess not many people win the race with that mindset.

• Use all the resources available

  This website is a good start, but do not limit yourself. You have many other resources available (see More materials).

  
  

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