Hi there, 

Short answer is no. You don't need to do any of that. 

Extra knowledge helps, but is not a must. You're a consultant not because of your knowledge, but because of your skills. Knowledge is rather expected with seniority and is something that you naturally pick up on as you progress through your career. 

Additionally, you're not expected to know this kind of stuff when you're just getting started, so don't apply this sort of pressure on yourself. 

By the way, I wrote a comprehensive article on what it's like to get started in consulting. You might find it useful - https://www.preplounge.com/en/articles/entry-level-consultant-what-is-it-like

Congrats on getting started!
Best,

Cristian

(editiert)

In consulting, you need to know how to read and interpret a financial statement, but not how to build one. 

You need modelling skills, but not financial modelling (i.e., corporate finance) type of skills.

Doing some modelling work can help you in learning how to organize a spreadsheet (worksheets, assumptions, tables, etc.), which is relevant. The technical part of the financial modelling is not.

As such, no need to spend your spare (or busy) time on this.

The Short answer is that you do not need to be a modelling expert. You have been hired as a genrealist not an Investment banker. 

However, you will be modelling scenarios, market sizing, etc. Having an understanding of how models work and a good grasp of excel is very helpful. I was in equity research and I have not built a single financial model in a year of working. However, I have built one basic market model with the junior consultant where knowing excel reasonably well was helpful. 

If you happen to be going into specialist consulting on the PE side or investment, then maybe it could add value. 

Unless you are in a direct finance/accounting type role, dont worry. You will pick this up along the way..there is no escaping that :).

All the best.