How can I prepare a strong applications for a consulting position as a 2nd year PhD student?

You have a very strong profile, coming from two main target schools. I am assuming here you are applying for a generalist role. From my experience, you would fit in an Associate position at McKinsey and equivalent in other MBB. Here are the answers:

1) Preparing your application (McKinsey Perspective)

• Problem solving game (1st step): Practice timed, gamified problem-solving by familiarizing yourself with McKinsey’s Solve Game scenarios, developing analytical and prioritization skills, and simulating real test conditions using online practice resources. This is the first assessment for getting into McKinsey and is a dealbreaker
• Cases & problem-solving: Practice case interviews (Plenty of resources here) and focus on translating your STEM skills into business problem-solving. Be sure you have business acumen. Do mock interviews and assess your progress with former MBB interviewers/coaches to make sure you are meeting the bar.
• PEI: Similar to case interview on preparation.  Write powerful stories, this might need extra effort if you have limited leadership exposure during your academic life.
• Resume: Emphasize results, impact, and analytical skills in consulting language. There are plenty of resources online to create a powerful resume

2) Mastering out vs. finishing PhD

• Not a disadvantage at all.

3) Visa/green card

• Top firms usually sponsor H-1B and often green cards, but check with HR early.
• If you master out in the US, you may also qualify for STEM OPT extensions.

4) Other tips

• Some firms have PhD-focused pipelines for non-generalist roles, with some changes to the selection process. Be informed according to the role you are applying to.
• Build small leadership experiences now—they matter a lot.
• Post-PhD consulting is possible, but some roles are more competitive; finishing your PhD can open specialized positions.

Hi there!

Let me take them one by one.

1. Check this guide: Expert Guide: Build A Winning Application Strategy

It will take you through the entire process.

2. No. They honestly don't care about the content of the PhD and only part of the skills you'd develop during the program are transferable for them. The question is rather whether you're certain you want to drop out of the PhD. You might not have the opportunity to do it again. 

3. Yes. 

4. Have conversations with people in consulting. To both get referrals and to get a sense of the industry and whether it's the right thing for you. This guide explains how to go about it:

• Expert Guide: How To Handle Networking Calls and Get Referrals

Good luck!
Cristian

1. How can you best prep: Good CV, solid FIT answers, bullet-proof case prep. Feel free to connect with me on a free intro call and I can break it down into simple action items and get you a prep checklist.

2. Master vs PhD: No perceivable disadvantage. Most consults wouldn't care.

3. Sponsoring: Ideally, but check with HR always.

4. Tips: Prepare well. Follow the prep checklist. Trust the process.

A few relevant resources that might help you:

• Consulting Recruiting Process
• Preparing for unorthodox cases