How much of the barrier to get into MBB will be lifted if money is no problem? Imagine you are a freshman in college, and you have loads of disposable cash (but zero network), how would you allocate it to maximise your chances to get into MBB?
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Other than hiring a coach on PrepLounge, my sense that it's less about how much money you have and more about the connections/access you have a result of your wealth. In the past, MBBs (particularly McKinsey) at entry-level post undergrad studies used to be heavily about coming from the right socio-economic and educational background. Below are a few examples I've seen of successful McKinsey BA/summer BA candidates who have made the most of their priviliged background:
+ Target school and strong educational background that has helped them naturally acquire the problem solving intrinsics (e.g., critical thinking, strong communicator, intellectual curiosity, etc.) that is being tested in a case interview
+ Prestigious internship(s), especialy very early as a freshman due to family connections etc.
+ Interesting extra-curriculars as you they haven't had to work while studying and also have access to unique extra-curricular opportunities through wealth
+ Well connected with the right group of people (incl. through family connections) who are at MBB, often senior partners, due to being part of the same social circle
Hi there,
Interesting question ;)
You cannot “buy” a slot in MBB. However you can use services to speed up the preparation, understand how to find referrals and shine during interviews.
In short, you can create a relationship with a coach or mentor that helps you to get where you want in a fraction of the time you would need if you read books, read blogs or watch videos online.
If you need help with that or need additional information please feel free to PM me.
Best,
Francesco
Hi there,
If you have loads of money, you can definitely spend the time making yourself the best candidate possible. Obviously, you can spend money on coaching which will help you pass the interview. My strategy would be to work with multiple coaches until you find one you really like.
However, the biggest hurdle for you is not passing the interview, but getting the interview. So why don't we use some of your money for that? Meaning, you don't need a high paying job and instead, you can work for startups, volunteer, or work in low-paying, but critically important public service jobs. Perhaps you do that for a few years, obtain some amazing experience, and develop skills that really make you stand out.
Then you apply and make use of 1:1 coaching!
Hope this helps,
Allen
Honestly, I'd pay for a lot of academies and 1 on 1 coaching. Nothing beats tutoring from a top coach imo.
Note, here my emphasis is on making YOU the best candidate possible. There is no way to pay to get into MBB (like you could for Harvard or Yale for example)
Hi,
I don't think money can help anyhow with the interview. Of course, you can use unlimited coaching services to prepare in a fastest and most efficient way
Best
I am afraid that money cannot get you into MBB. But what you can do is making sure that you have the best preparation through the best coaches. That should already get you quite far in the right direction!
Invest the time & money now to improve yourself- communucations skills, public speaking etc.
Hire a coach and let them guide you through the process.
oh and please dont get complacent now, life is fragile as you may have noticed during COVID. Remain humble and strive to make a positive impact wherever you go.
Good luck.
Hey there,
There are two elements to it.
First, you need to get to the interviews. Does money help here? I'd like to reference Ken's answer here. It might help indirectly via the ways he discusses it.
Second, you need to pass the assessments and interviews. The function of money in that respect is that it will give you access to better and more resources (top coaches here) as well as other preparation materials (video academies, etc). Also, the money will save you time since you will be able to learn the needed skills at a faster pace.
In short, financial resources will support your efforts, but you still need to jump the same bar as everyone else (luckily). This is btw something MBB HR is struggling with since they want to provide everyone with the same chance and know that some can prepare more than others...
Cheers,
Florian
Hello!
You cannot buy a spot in.
This said, money helps, A LOT. But like for anything in life.
Money buys you time to apply with no pressure, and access to coaches and materials.
This said, you need to meet and raise the bar, just as everyone else.
Hope it helps!
Cheers,
Clara
Hi there,
well, money can't buy you a slot in the MBB, but you can use it on interview preparation - on books, courses, and of course on coaching sessions. Working with a professional coach who is an ex-consultant saves your time and brings you faster to the result.
In case you are looking for a coach to be your guide, friend, sounding board, best practice advisor, feel free to get in touch with me. I have also been a coach during the 'First 100 days in consulting role' for several candidates from PrepLounge who have made it to MBB. Happy to support you as well.
Cheers,
GB
