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Alternative to management consultancies due to current situation?

Application Coronavirus
New answer on Jul 31, 2020
7 Answers
1.8 k Views
Anonymous A asked on Jul 22, 2020

Hi community,

this year I finished my studies and would actually like to join a management consultancy. But even though some consultancies are still recruiting, I would like to think about an alternative way (e.g. work for 1-1.5 years somewhere else and then apply again). Based on your expertise: where could one work (which companies appear "attractive" from the point of view of management consultancies & which industries still hire) and what additional qualifications should one acquire?

Thanks your help.

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Jasper
Expert
replied on Jul 30, 2020
Expert Financial Services | ex-FinTech Unicorn Manager | 250+ real interviews | 14y+ int work exp | ESCP Business School

Hi there,

if your goal is consulting and if you're comfortable with looking for an alternative inbetween and until the economy has recovered, I would give you the following advice:

Do something completely different compared to the situation you want to be in in one or two years! Of course you can check which sector is doing well during this crisis and you could apply for positions there. But can you be sure that this will help you in the new future with your goal of working in a consulting firm.

You will most probably never ever have this freedom like you have it right now!

For example I did my studies for my masters programm in Paris, London and Berlin. And I wanted to work in a consultancy afterwards. I would say that these cities were all same same or boring ;-), but everything wasn't completely new to me. So I decided to go to Shanghai / China in 2007 for a couple of month. It was simply one of the best decisions I've ever taken, because it was so different to what I've done previous in my life. Especially in cultural terms and knowing how much China was changing these days.

Hope it will help you - having time and freedom is a valuable thing! Take advantage of it!

Jasper

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Clara
Expert
Content Creator
replied on Jul 23, 2020
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut

Hello!

There is not a one truth to this question, since there are many many relevant things that you can do this time that will be useful for (1) your personal and professional rgowth and (2) your CV to consulting.

To mention some:

  • Startups
  • Tech companies
  • Strategy positions in other industries
  • Project o Product mangement roles
  • etc.

Then, of course, depends on the firm, the scope of your work, etc.

Hope it helps!

Cheers,

Clara

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Anonymous B on Aug 06, 2020

even startup experience help??

Megan
Expert
replied on Jul 22, 2020
Case Coach for Private Sector & Sustainable Development Strategy Consulting

Are you interested in sustainable development?! I studied this at my MPA, and Dalberg (dalberg.com) is the leading sustaianble development consultancy - its all the same skils buts sustaianble development problems (and case itnerviews). It was started by ex-McKinsey consultants. It is very competitive though and you need to prepare just as you would for MBB, but with development related cases. They are hiring a lot right now, and helping many developing countries' governments with thier COVID response strategies.

I actually just got an offer there, so if you are interested, I would be happy to help you prep and guide in the right direction for how to prep for these cases since you can't find them in casebooks. Pay is very, very good for social impact, and work/life balance is way better than MBB (think 9-7 most days). Also, less travel than MBB, although you would need to travel for a few weeks at a time depending where you are located and what project you are staffed on (they could send you to Africa or Asia, and also Latam if you speak Spanish. I am offering my first session free and then one session 50% off! Let me know if you are interested :)

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Udayan
Expert
Content Creator
replied on Jul 22, 2020
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

Hi

What I would add to the answers by others is this - whatever you do make sure it is what generates revenue for the company and is not viewed as a cost center. For example if you go to a bank go to Investment Banking/Trading and not banking operations. If you want to do supply chain then go to Apple where supply chain is king, if you go to Google ideally you want to be a developer there etc. This is what I have seen is common among many experienced hires - they worked in positions that were core to the revenue generating aspect of the companies they were in. The main reason being that companies will spend a lot of resources in those roles to train, develop talent etc. and you learn a lot more given it's importance.

All the best,

Udayan

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Anonymous replied on Jul 31, 2020

Dear A,

Your question of course depends on geography a lot. But in general I would highly recommend to go for career at big Bluechip corporate, complete graduate training program there or go into financial services, especially think-tank companies, also technology sector like Facebook, Amazon, Apple, Google. There are very attractive employer at the moment. And last but not least, many roles woud be opened in startups.

In my view these are the most attractive options which you have at the moment in hand.

But if the situation changes, and it becomes very difficult to find a job then simply go for a job which you can get, if don't have any other chance.

Hope, it helps.

If you wish a long-term career advice and tips, get in touch with me and I'm happy build you a solid career.

Best,

André

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Axel
Expert
Content Creator
replied on Jul 22, 2020
Bain Consultant | Interviewer for 3 years at Bain |Passionate about coaching |I will make you a case interview Rockstar

Hi!

I think a good opportunity could be to join mid-stage start-up or scale-up (Series B - Series E) in an industry that has benefited from the crisis. Think for example last-mile package delivery, food delivery, etc. I would focus on a role where you get as much exposure as possible and allows you to build some analytical skills. Think business analyst, BI, or similar. These are also the most likely to be hiring in these times.

Relatively well-known brand-name (at least in the market where you will apply for consulting) would be useful to ease the transition later.

-A

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Anonymous replied on Jul 22, 2020

Hi Anonymous

If consulting is your end goal - then go for a widely known brand in a role that develops relevant skills (as Axel already mentioned)

Tech and IT sectors have been more resilient to this crisis so something to consider (likes of Apple, Tesla, Amazon etc)

Best of luck

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Jasper gave the best answer

Jasper

Expert Financial Services | ex-FinTech Unicorn Manager | 250+ real interviews | 14y+ int work exp | ESCP Business School
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