Hi there, is there a difference between MBB firms as well as tier 2 firms regarding the % success rate for eacht stage? E.g., the % that do not get invited at all, % getting kicked out in the first round, % getting kicked out in the second round?
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Difference in % success rate at different stages of the process?
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Hi there,
Honestly, this really depends on time of year, actual year (i.e. 2020 was rough), office/country, role, etc.
Not only are there too many variable to make sense of this, it's a sort of pointless exercise isn't it? Regardless of the answer, you're going to try your hardest right?!?
That said, my view is as follows:
It's around 20-30% for each round, but with essentially improved chances each further round (perhaps counter-intuitively).
So, screening obviously knocks out a lot of people (agree, probably 90%+). 1st round knocks out those with no IQ / EQ / Preparation. Then 2nd round is normally either a 1) They're so close, maybe maybe, let's check or 2) They're fantastic, let's just do due diligence.
Final round to offer is definitely the round with the highest success rate.
Here is a helpful Q&A for you: https://www.preplounge.com/en/consulting-forum/what-are-my-chances-8101
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Not sure about Tier2, but at MBB my best guess is
- 5/10% get invited to the interviews
- Of which, 20/30% are invited to the last round
- Of which 50-70% land a job offer
- Of which 90-95% accept the offer and becomes a consultant
- (of which 40-60% don't make it to the next career step and leave the company...)
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These numbers are very difficult to collect, so you won't find really reliable data anywhere. Rough ball parks for success rates in the industry are:
- Interview stage: 5-10%
- 1st round: 10-25%
- 2nd round: 33-50%
Again, these numbers are highly indicative and other people will disagree. I'd assume that T2 firms have similar ratio as MBB.
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Hello!
Unfortunately, those numbers are the best kept secret in MBB and consulting in general.
All you are going to get from people are stimations, and they really change from person to person.
Hence, I would advise you not to think too much about it and focus on what you can do: get ready! :)
Hope it helps!
Cheers,
Clara
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My advice would be to not bother with all this..the headline is- Its tough & competitive.
But if you prepare well, focus on giving your best, there is a place for you. Thats just how it works. There are options both ways- for candidates & for companies and companies are in war for talent. So if you are smart about your prep, you will get it, and if not find your way in second attempt.
Just enjoy the process, have multiple options going, keep improving & focus on giving your best.
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Hi, it depends on the period and on the geography. Usually, it's 20-33% for each round
Best,
Antonello
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Franco's numbers seem reasonable...I would say getting selected to interview is the absolute hardest (10% is on the high end. usually lower). Once you get to the 1st round it is on your to deliver during the interview. 20% - 30% success rate at 1st rounds is usual. Some factors that affect it are the role you are applying for, whether it is part of college recruiting or experienced hire, your past specializations etc.
Odds of success at the final round are at 33% or higher because by this time you have demonstrated your analytical skills and it is more about fit with the firm and the ability to be a thought partner to clients.
Best,
Udayan
(edited)
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Hi there,
The rumored number of applicants getting offers from MBB is 1%. The other numbers can only be estimates. It also depends on the particular period (in some periods getting offers is more difficult due to lack of demand).
Tier 2 firms have normally fewer applicants but may also have fewer slots available - so it is not necessarily easier to get an offer there.
A 20% to 30% passing rate in each interview round is reasonable for most firms.
Best,
Francesco
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