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Moving to consulting without consulting experience

Client and MBB dubai
Neue Antwort am 9. Aug. 2021
5 Antworten
845 Views
Anonym A fragte am 7. Aug. 2021

Hi everyone. Sorry for this kind of ambiguity but the accurate phrasing is so lost on me (smh). So here's a little background

As the title says. I finished undergrad in total disorientation. I was obsessed with finance and probably still am (sigh, allow me to flex by the fact that I passed CFA L1 with a pass rate of 25%). I got the valuation arm of a big4 firm , and while it's not that bad, I just can't find myself. The work is exhausting and micromanagement is a huge issue. 

 

I am attending a very fine MSc in Finance in Europe, starting next week. I thought about Investment Banking but the horror WLB stories discouraged me. Consulting is definitely where I want to be. Being responsible for a something palpable is truly fulfilling. So I'm currently starting my consulting applications, knowing that I have to earn a referral; I'm privileged enough that my uni has a strong alumni network in consulting. I'm eyeing MBB because they offer the best exit opps, but I recognise my disadvantage here

 

Now my question regarding work exp. I have 6 months of experience in valuation (keep in mind I graduated in 2020). Naturally I am an excel beast. I'm thinking about London as a 1st option with Dubai.  Do I have a chance? Is it even reasonable to consider consulting?

Thanks a lot!

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Sofia
Experte
antwortete am 8. Aug. 2021
Top-Ranked Coach on PrepLounge for 3 years| McKinsey San Francisco | Harvard graduate | 6+ years of coaching

Hello! It is absolutely reasonable to consider consulting in your position, if it is something that interests you. In fact, your quantitative background with your work experience and MSc can be used as an advantage. As fellow experts have said, it is difficult to assess how good of a chance you have without seeing your resume and working with you, but generally speaking the accounting/finance → consulting path is not wholly uncommon. I have coached multiple candidates going from a finance background into consulting.

I would also suggest working on polishing your resume and networking at this stage. You should certainly use your valuation background to your advantage, and emphasize your proficiency with quantitative analysis. This background might be particularly attractive for private equity/finance consulting practices (e.g. McKinsey's PEPI practice), so you could target consultants with similar backgrounds in your networking if you would be interested in that kind of work.

I would be happy to help if you have any more questions - I have worked with multiple candidates coming from a finance background, and would be happy to offer a discount on a resume review if you would like to work with me.

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Ian
Experte
Content Creator
antwortete am 7. Aug. 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

Of course you have a chance! 

Do you have a good one? Unsure - I'd need to see your resume.

To optimize your chances:

  1. Make your resume as good as possible
  2. Take on additional experiences to build your resume
  3. Network extensively

This is a good year for taking the leap on MBB. That said, I'd caveat one big thing here: Consulting is almost as hard as Finance, and it's not always “palpable” or “fulfilling”. It's also exhausting and has plenty of micromangers (sometimes you have 7 “bosses” inputted on your deck).

Make sure to do your research - don't just assume this move will fix all your problems!

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Florian
Experte
Content Creator
antwortete am 9. Aug. 2021
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets

Hey there,

Your high-level info on the resume sounds typical of people joining consulting all over the world.

90% of new-joiners in MBB have no consulting experience before joining so this makes total sense. 50% of those do not even have a business background.

You should be fine :-)

Focus on networking first.

Cheers,

Florian

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Francesco
Experte
Content Creator
antwortete am 8. Aug. 2021
#1 Coach for Sessions (4.000+) | 1.500+ 5-Star Reviews | Proven Success (➡ InterviewOffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

I don’t think anyone can answer properly without seeing your CV. From what you wrote, yes you have a chance (although London is very competitive). But from a real assessment of how likely you are to have a chance, you would need to do one of the following:

  • Post here your sanitized CV or at least your full profile
  • Ask feedback to a current consultant or to a coach showing the CV

Best,

Francesco

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Adi
Experte
Content Creator
antwortete am 8. Aug. 2021
Accenture, Deloitte | Precision Case Prep | Experienced Interviewer & Career Coach | 15 years professional experience

Yes, you have a chance with a good CV, networking and interview performance. But clearly there are bigger questions you must answer yourself on right career path and choosing the right firms. Make sure you are getting into consulting for the right reasons and not out of fear of banking, or because your friends are doing it!

Have a look at this article as well for some ideas you can borrow: https://www.preplounge.com/en/how-do-i-know-which-career-is-right-for-me

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