Finance to Consulting, advice on how to make the move

Hi,

Singaporean here - worked in BCG Singapore/SEA and also have friends in MBB who have made the switch from IB to consulting. Here are a couple of thoughts (based on BCG terminology):

1. Directly apply for entry-level/fresh grad openings later this year
   • This is best and most direct path
   • If you don't have an MBA, then anyone with ~5 years of work experience will still join BCG, at best, as a Senior Associate (this is a 3rd year role, pre Consultant position)
   • Theoretically, you don't need to follow the OCR cycle - you could apply as an when given you'd be an ‘experienced hire’
   • The key constraint is recruiting volume - which has dramatically slowed down this year
2. Apply for Masters in Management for campus recruiting opps next year (which should be more straightforward?)
   • When I was there, the bulk of the recruitment for Consultant position was only for the full MBA programs (2 year programs)
   • MiM also has OCR, but you would either come in as a Associate 2 or Senior Associate → also because the requirements for MiM are often more variable than MBA
   • But if you are already at a top investment bank (thus you have the brand name) then I question the use of going to MiM just for OCR
   • Better to spend the time and effort on networking, and save $$$ as well
3. Work in a more strategy-related role for few years and apply for MBA
   • The path that makes the least sense to me
   • First - getting into strategy-related is hard if you don't already have actual consulting background. Reason is because you would be competing with Associate2, Senior Associates and maybe even Consultant1s for the same role - why would the team choose you over them in any strategy-related role?
   • Second - if you wanted to do an MBA, having 2 years at a top IB already puts you in the profile/bracket to apply very soon. The only question is how rounded your CV is and how strong your story will be in another ~1-2 years

Happy to chat more - I myself did not do MBA (but i did come from a T2) but I've seen many different routes to consulting in my ~9 years here in SEA. Drop me a dm if interested.

All the best!

Hi there, 

I like your approach - straight to the point. 

In short, I'd recommend a shortcut. Apply now. Take the following steps:

1. Develop an application strategy. Figure out what firms you'd want to target. Go broader than the firms that you'd actually want to work for and use the other ones as a means of practicing for your preferred ones. Use this guide to develop this step:

• Maximising your chances of getting a consulting job during an economic downturn

2. Create an amazing application package. Get your CV and cover letter professionally reviewed by a coach. That will instantly put you within the top 10% of candidates who apply. Work on your referrals - use this guide to get referrals from your target firms by leveraging coffee chats:

• Your Guide to Consulting Coffee Chats

3. Apply to 10-15 firms and see what answers you get. With your current profile, I expect a conversion from application to invitation to test of 40-60%. Once you have that, delay the interviews and start preparing. Get a coach to move through the process in the most targeted way. 

Worst case scenario, if this doesn't work out (but I'm 90% sure it will), then you will have at least learned loads and then you can do the same next year when your profile is even stronger. 

Don't wait for dreams and don't create intermediary steps between what you want to do and where you are. Just go for it. 

Happy to chat more about this also over a call.

Best,
Cristian

Hi there,

Q: Would love to hear your thoughts on best possible route / any other options I’m missing out.

I would go for option #1 (apply now). If that doesn’t work, I would go for option #3 (do an MBA, apply again). However, I don’t think you would need to work for a few years – you could apply for the next intake.

I don’t see the advantage of #2. You would still most likely join at the same level after a MIM and it would take an extra year of school.

Good luck!

Francesco

Hi there,

I used to interview first and final round with BCG in SEA. 

Feel free to share your profile / CV via DM, then I can take a look and advise specifically for your case.

Regards, Andi  

Given your background you have a real shot of making it as an entry level BA if you apply now and if there's a decent amount of hiring in the market. I know many people that switched from front office banking into consulting (especially if you were doing IBD or trading, attitude towards sales was less favorable). 

If that doesn't pan out I always recommend an MBA over an MIM. Masters in management is more or less a giant money making scheme for a lot of schools and does not give you anywhere close to the same opportunities as an MBA for many reasons. 

Hi there,

I completely agree with Udayan.

Apply now and see what happens.

If it doesn't work out (or, if deadlines necesitate), apply to an MBA. The application ban resets.

Make sure to network before applying. Good luck!