Entering MBB

Wow! What a great question! I don’t think I have the space here to write all that I’d want to say, so I’ll keep it short. But first and foremost, congrats!

Here’s 3 tips:

# Stand for something - develop a value proposition early on. Become good enough at something that you get recommended from team to team and become the guy/gal who is, for instance, really good with digital transformations In retail banking 

# Develop a network - not only will this keep you staffed and accelerate your learning, but it’s perhaps the greatest contributor to the speed at which you get promoted. Find people that will help you because you help them

# Set boundaries. Consultants have miserable lives because they learn to say NO very late or never. That’s because most lack confidence and they’d rather work more than fall from somebody’s good graces. With time you learn you can gain people’s respect also by refusing them but that means you need to respect your own boundaries first. So if you don’t want to work weekends, make it clear from the start, don’t offer to do it and don’t cave in. That’s what boundaries are for.

hope it helps

Hey there,

1. Take it easy. Many situations that - in the moment - appear very stressful are in hindsight almost comical (e.g., late night team room drama due to tight deadlines, wrong data, etc.)
2. Show genuine interest in the people (both client and your own team + support staff). Be eager to learn. Manage your lifestyle or you will burn out → It's a marathon, not a sprint.
3. Get all the hotel and airline membership cards; then figure out what alliance is flying mostly from your hometown and prioritize flights with this airline. For hotels, Marriott Bonvoy is likely your best bet globally. Better to get status quickly with one airline or hotel and then apply for a status transfer or match with other airlines/ hotel groups.
4. Enjoy your time and make the most of it. Take on the learning opportunities, manage your lifestyle and push back if not sustainable.

All the best on your journey! :-)

Cheers,

Florian

Hi there,

Some great questions here!

1) What are some things that you wish you knew before starting?

#1: You need to learn how to work smart - only working hard is not sustainable

#2 I wish I had my Consulting Survival Guide (25 tips critical to succeeding in your first 12-24 months at the firm). Shoot me a message - happy to send you a link!

2) How can you stand out and hit the ground running?

See below

3) How did you look for credit cards to build loyalty points?

a) Pick a hotel chain - get a card for that chain. Pick an airline - get a card for that airline. Pick a card with a huge sign-on bonus and great cashback/points - get that card for everything else.

b) Chase Sapphire is always a good bet

c) Why do your own research when a hundred other consultants already have? Ask the office card guru!

4) Any other golden nuggets for incoming MBB consultants?

See below

=================================

HOW TO SUCCEED

Now across all careers/professions, the answer is to your question is the same:

1. Be extremely good/talented
2. Work extremely hard
3. Be visible

#3 is not to be underestimated and is generally where people fall short.

You can't just slave away and do a million things - people have to be made aware that you're top-notch.

Make sure that everything you do is noticed/tracked in some way shape or form.

If a tree falls in a forest but no one is there to hear it, does it make a sound? ;)

How to Thrive

To thrive in top consulting firms, you need to:

1) Understand the context/prompt (what role are you in, what company, who's watching, etc.)

2) Understand the objective (what, specifically, is expected from you...both day to day, and in your overall career progression)

3) Quickly process information, and focus on what's important - Take a lot of information and the unknown, find the most logical path, and focus on that.

4) Be comfortable with the unknown, and learn to brainstorm - think/speak like an expert without being one

In summary, there will always be a flood of information, expectations, competition etc. and not enough time. Find out which ones matter when. (i.e. be visibile and focus efforts on the things that people care about)

Hi there,

Congratulations on the offer! Here are some tips for 1,2 and 4. For 3, I am afraid you have to do your own research ;)

1. Take notes when your manager tells you something – this will help you to remember details and will show you care about them to the team.
2. Always double-check. The first impression is very important in consulting (and in any industry in general): if you show you are reliable from the beginning, you create a reputation of a reliable person. Double checks should be done on expectations for your job, your Excel analysis, your slides – basically everything.
3. Define priorities before starting any set of tasks. The majority of the results usually come from a subset of activities – this is true also for your tasks in consulting. You have to identify which they are and prioritize them – the application of the so-called 80-20 rule or Pareto Principle. Alignment on priorities and expectations is particularly important with your manager at the beginning of the project.
4. Socialize with your colleagues and start to build a network. Consulting (most likely also your new industry) is a people business and you should build a good network both within and outside the company. A good start is key to develop good relationships long-term. More difficult to do during COVID – but there may still be opportunities for virtual gatherings. Try to take advantage of as many as possible to build connections.
5. Organize your private life activities. You want to organize your calendar to leave some space for personal activities (sport/ friends/ family). This is not easy but can be managed if you organize well, and long-term will be critical to keep a balance between work and private life. Also, it is better to align with your manager/teammates from the beginning on your core needs, so that there are no surprises later­ on.
6. Ask for feedback every two-three weeks – this will show you are proactive and willing to learn.
7. Ask for help when you don't know what to do – better to let know you are in trouble with meeting a deadline than missing the deadline.
8. Be social and respectful with the support staff – these people are great and influential as well in the company.

Hope this helps,

Francesco

Hi,

First of all, congratulations on landing the offer, the exciting part starts now !

Here is a condensed list of the best advice I have received and reflections I made while at McKinsey (which I included in my ‘Goodbye Email’ when I left) :

"Find you moral compass and respect your own personal values. They’re the most precious thing you have in your life. Never hesitate to stand up for that and refuse to make that slide, join that engagement, or deliver that message. You’ll save yourself, and the firm.

Question yourself and others. No one knows anything, we’re just figuring things out the best way we can. Cultivate your doubt, and make sure everyone around you does the same.

Be curious. Look for opportunities outside of your comfort zone, and refuse to see the horizon as the limit. Transfer offices, start over, change paths, take on that new industry, build internal knowledge about your passion.

Work with what you are given. Your difference is what makes you stronger. Use it, refine it and show it. Don’t try to fit in a mold. McKinsey is made stronger by your individualities.

Make the decision. Any big decision will be tough to make. Transfer or stay, MBA or not, quit or not. You’ll never have the full picture. Just make the best call with the information you have, and don’t stall.

Find your people and stick together. Be open to meet new people, all the time, even when it’s hard. And when you find your tribe, protect those relationships. Call, message, meet. They make the experience worth it, make time.

Bring positive energy. People will remember how you made them feel, not what you said. Protect your optimism, bring it to the table and make people feel good."

I was not an expert on the credit cards, loyalty points, etc so I'll leave it to others to answer on that but it would be great to know which office or region we are talking about (as it changes significantly from one to the next). Loyalty programs worked differently for me in Canada vs France vs Morocco at McKinsey.

I hope this helps! Happy to chat further as you start your new job ! 

Best,

Mehdi

Congrats! Plenty of insights from other coaches, so I will try not to repeat stuff. Top tip from my perspective:

1) What are some things that you wish you knew before starting? Being visible is super critical

2) How can you stand out and hit the ground running? Be positive, curious and show a collaborative attitude

3) How did you look for credit cards to build loyalty points? 

4) Any other golden nuggets for incoming MBB consultants? Treat this a marathon and not a sprint

Hello,

Congratulations on your offer, and what a great question - and great insights from other experts! Here are my additional two cents, as an ex-McKinsey consultant:

1) What are some things that you wish you knew before starting?

- It is important to advocate for yourself to get on interesting projects, otherwise you will just get staffed on whatever is available. I recommend starting socializing to network early on - get to know the people who are doing work that you find interesting, talk to them and try to work with them, demonstrate to them that you are a hard worker, etc.

2) How can you stand out and hit the ground running?

- Honestly, the only thing I would recommend is taking a nice vacation (or at least some time off to relax) before you start work. If you're coming in as a generalist there is no way of knowing what you'll work on once you're there and what skills will be useful on the projects, and they will teach you anything on the job anyway. The pace at MBB is intense and the learning curve can be quite steep, so the best thing you can do is make sure you come in well-rested and ready to work.

3) How did you look for credit cards to build loyalty points?

- The vast majority of new consultants in my office opted for the Chase Sapphire Reserve, or credit cards that were tied to airline points.

4) Any other golden nuggets for incoming MBB consultants?

- Take initiative on projects and around the office! If you are looking to stay in your firm for a long time and/or get promoted, taking initiative is crucial. Once you've learned the ropes on your projects, start stepping up, making suggestions, and proactively doing things before the manager tells you. Get involved in office initiatives and help out people who are working on proposals etc. - it might feel like extra work on top of an already long work day, but it's a great way of making connections and becoming known as an engaged and trustworthy colleague.

Congratulations!

Answer to all your questions is - “Have patience!”

Having said that:

1. What are some things that you wish you knew before starting? That there is no point in front-loading like this. Figure your own way and style and brand.
2. How can you stand out and hit the ground running? By being the sharp and smart person you projected to be in the interviews.
3. How did you look for credit cards to build loyalty points? By googling and speaking to the banks in-detail. Don't miss the fine-print.
4. Any other golden nuggets for incoming MBB consultants? Have patience - its a marathon, not a sprint