Interested in financial services-related projects when interviewing as a lateral hire generalist. How to convey why and how to actually get staffed on one without any relevant exp?

Hi,

During interviews there is honestly not much you can do, since you are being hired as a generalist. The one exception is if you end up interviewing with someone from the FS practice, where you can bring up your interest directly. Just keep the reason about the sector and the work rather than about easier exits.

Once you are in, I'd recommend you to combine a "push and pull" approach. Push means making your FS preference clear and repeating it to the staffing team. Pull is getting to know the partners, principals and managers in that practice so they have you in mind when something comes up. Not having done FS before is not that relevant once you are in and are still relatively junior, so real interest plus the right relationships is usually what can unlock opportunities on those projects.

Hope it helps and feel free to DM me if you want to discuss this further!

Federico

Hi,

Just to confirm - have you already got the offer or not? 

If you are still in the interview process, I would suggest focusing on your fundamentals and just passing the interview first. No point worrying about trying to get staffed on an FS related project at this stage due to several reasons including but not limited to:

1. As it is, it is already hard enough to get the offer as a generalist
2. You are hired for a generalist role and thus you will be part of the generalist pool when you start work
3. You have no control over who your interviewers will be and likely they may not even be FS partners and therefore have no say in staffing you in FS
4. There are various factors that affect your staffing eventually (which again, not the time to worry about now)

For reference, I am a History major and I did most work in TMT sector but I did eventually manage to specialize in PE work as a Project Leader/Principal (part of the ringfence) even though I had never done PE work prior to that. Happy to share my learnings - feel free to drop me a dm. 

Lastly, given your experienced hire profile, you might find these 2 articles helpful:

5 Reasons Why Experienced Hires Fail the Interview
Succeeding in Consulting as an Experienced Hire

All the best!

Hi there, 

specific advice on how to get staffed on FS projects obviously differ per firm but there are a few general things I would consider. 

First of all, your first project once recruited is outside of your control. Staffing will allocate you, most likely on a project that matches your prior expertise. What comes after is, however, up to you. 

FS practices are usually very open to staffing new talent as it is a special industry (I have worked in Financial Institutions M&A prior to joining BCG) and not that many people want to specialize in it. So I would recommend to do two things: (a) discuss this staffing wish actively with your staffing department and (b) identify relevant people from the FS practice area at your company and actively reach out and network. 

While staffing has a say, the personal connection usually matters more and if people feel you are smart and motivated, they will give you a shot. Needless to say that performing well on the cases that you have been staffed on helps a lot as people within Consulting conduct reference calls on potential staffing candidates. 

Reach out in case of questions! 

Best, 
Sebastian

I’d be quite direct about it during interviews. You don’t need prior financial services experience to show genuine interest. Explain why the sector interests you, what you find attractive about the business models and why you think your existing skills would transfer.

After joining, networking with partners and managers in the financial services practice will probably matter more than your interview answer. Ask for staffing conversations, learn the basics of the local market, and make it clear that you’re willing to invest time in building sector knowledge.

As a lateral hire, I’d also avoid positioning it purely around exit opportunities. Firms will respond much better to a genuine interest in the sector and the problems clients are facing.

Best, Alessa :)

Hi there,

I would be happy to share my thoughts on your questions:

• First of all, in the interviews I would advise you to show the interest. Consulting firms hire lateral generalists to be flexible, so if you say "financial services or nothing", some interviewers will read it as a risk. The version that works is short and honest: you relocated, in this market banks and insurers drive a large part of the economy, and you want to build depth where the work will be. That is a reason a partner can understand in ten seconds.
• Moreover, on getting staffed once you are in, I would strongly advise you to treat this as a people topic and not a process topic. Staffing systems allocate you where there is demand, but partners pull people they know. So in your first weeks reach out to two or three people in the financial services practice for a short coffee, tell your staffing manager clearly what you want, and say yes to the first financial services project even if it is a small or unglamorous one. After one project you are no longer the generalist with zero exposure, and the second one comes much easier.

If you would like a more detailed discussion on your specific situation, please don't hesitate to contact me directly.

Best,

Hagen

During interviews, frame your interest around local market drivers and transferable core analytical skills rather than prior domain knowledge. Once hired, connect early with Financial Services Partners, help build practice assets or proposals, and raise your hand for fast-turnaround commercial due diligences in the sector. Emphasize how your generalist toolkit applies to universal challenges like digital transformation and operational efficiency.

Feel free to reach out if you want to discuss your strategy further.