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Ian

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Hello!

I am beginning my third year at USC Marshall and am going to apply to MBB internships in the Fall (at the time of recruitment). Since I don't have many responsibilities right now, I have dedicated a majority, if not all, my time to preparing for case study interviews. I've connected with past alumni who have been through the MBB application process before and considering that MBB sends very few recruiters to USC Marshall (especially for undergraduate), I will have tough chances of landing an internship. Nonetheless, my preparation for MBB will prepare me for B4 recruiting, so I don't feel as if I'll be wasting time.

Does anyone have any idea how the current economic impact of COVID-19 will affect the Undergraduate Recruiting process at MBB?

I plan to continue to use my time this summer to prepare for interviews and polish my resume for the time being. Would anyone be able to look over my resume and/or have a virtual coffee chat to answer some questions that I had about recruitment?

Thank you so much for your insights!

Hello!

I am beginning my third year at USC Marshall and am going to apply to MBB internships in the Fall (at the time of recruitment). Since I don't have many responsibilities right now, I have dedicated a majority, if not all, my time to preparing for case study interviews. I've connected with past alumni who have been through the MBB application process before and considering that MBB sends very few recruiters to USC Marshall (especially for undergraduate), I will have tough chances of landing an internship. Nonetheless, my preparation for MBB will prepare me for B4 recruiting, so I don't feel as if I'll be wasting time.

Does anyone have any idea how the current economic impact of COVID-19 will affect the Undergraduate Recruiting process at MBB?

I plan to continue to use my time this summer to prepare for interviews and polish my resume for the time being. Would anyone be able to look over my resume and/or have a virtual coffee chat to answer some questions that I had about recruitment?

Thank you so much for your insights!

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Book a coaching with Ian

100% Recommendation Rate

66 Meetings

3,827 Q&A Upvotes

USD 239 / Coaching

Hi Natalie,

First, more than happy to quickly look over your resume and answer some quick questions.

Second, here are a few thoughts on how COVID-19 is affecting the consulting world.

INTERVIEW FORMATS

Most interviews will now be virtual. They may also involve COVID-19 as a topic!

For Virtual Interview Tips:

https://www.preplounge.com/en/consulting-forum/virtual-first-round-interview-thoughts-advice-4310

For Coronavirus Cases:

https://www.preplounge.com/en/management-consulting-cases/brain-teaser/beginner/coronavirus-times-194

https://www.preplounge.com/en/management-consulting-cases/candidate-led-usual-style/intermediate/chinese-chess-191

_____________________________________________________________________

PUSHED STARTING DATES

A number of existing offers as well as future offers are coming with delayed start dates.

https://www.preplounge.com/en/consulting-forum/pushed-starting-date-6807

https://www.preplounge.com/en/consulting-forum/semester-extension-due-to-covid-19-6724

https://www.preplounge.com/en/consulting-forum/mckinsey-offer-pushback-covid19-6768

https://www.preplounge.com/en/consulting-forum/mck-associate-job-offer-6737

(If this happens, use the time to both upskill and find a 2nd job/internship in the meantime)

____________________________________________________________

REDUNDANCIES RISK

https://www.preplounge.com/en/consulting-forum/covid19-redundancies-risk-6728

Some of the tier two firms are cutting costs through:

  • Setting pay to 80%, with an opt-out policy (KPMG)
  • Letting go of some staff with <6 months tenure (EY)
  • Forcing unpaid leave for staff not on billable projects (Deloitte)
  • Stopping bonuses

So far, it seems the tier 1 firms are cutting some bonuses and being stricter with the "Up or out" system. It seems unlikely they would rescind new hire offers, but you should always have a plan B.

Al this being said different geographies are different, as are different roles...even in tough times companies do hire and projects are won.

______________________________________________________________________

DELAYED AND REDUCED HIRING

https://www.preplounge.com/en/consulting-forum/how-will-hiring-efforts-change-in-the-middle-east-because-of-the-pandemic-and-budget-cuts-by-the-saudi-government-6871

https://www.preplounge.com/en/consulting-forum/what-consulting-companies-are-hiring-interviewing-right-now-6733

https://www.preplounge.com/en/consulting-forum/are-interviews-in-the-middle-east-still-going-ahead-6832

There are a lot of companies, a lot of offices, with a lot of different timelines. I recommend you reach out to the recruiters of the offices + companies in which you are interested! This had the added benefit of you potentially being put in touch with a potential referee!

Take the initiative, reach out to the offices/companies you want, hustle hard, and find the jobs that are available and fight for them. Don't speculate...read the cards TODAY and operate as such, until something changes, then adapt.

____________________________________________________________________

THREAT TO THE BUSINESS MODEL

The top-tier firms are very nimble. They are notoriously "immune" to economic cycles. This Is because:

  • When the economy does well, MBB are hired to help companies do even better
  • When the economy does poorly, MBB are hired to help companies survive (cost costs, adapt, plan for the new world)

I can tell you that MBB are hustling hard and that when companies are in trouble, they look to MBB first for guidance. Strategy consultants help firms navigate uncharted territory...these times are when they're most needed

_____________________________________________________________________

IMPACT ON TRAVEL

https://www.preplounge.com/en/consulting-forum/is-the-corona-crisis-going-to-lead-to-less-travel-in-the-future-for-mbb-consultants-6780

https://www.preplounge.com/en/consulting-forum/less-traveling-in-the-mena-region-6770

1) Yes it will affect the nature of work

2) I can't see it improving work-life balance. The fundamentals of top-tier companies in any industry are: Get the best, get the brightest, get the hungriest, charge them out for a lot, and work them hard

3) It'll change business trips in much the same way business trips will be changed across the world

4) It's anyone's guess as to whether WFH will become more acceptable in consulting. Personally, I doubt it.

__________________________________________________________________

IMPACT ON M&A ACTIVITY

https://www.preplounge.com/en/consulting-forum/potential-ma-activity-in-the-consulting-industry-anytime-soon-because-of-global-context-6771

Hi Natalie,

First, more than happy to quickly look over your resume and answer some quick questions.

Second, here are a few thoughts on how COVID-19 is affecting the consulting world.

INTERVIEW FORMATS

Most interviews will now be virtual. They may also involve COVID-19 as a topic!

For Virtual Interview Tips:

https://www.preplounge.com/en/consulting-forum/virtual-first-round-interview-thoughts-advice-4310

For Coronavirus Cases:

https://www.preplounge.com/en/management-consulting-cases/brain-teaser/beginner/coronavirus-times-194

https://www.preplounge.com/en/management-consulting-cases/candidate-led-usual-style/intermediate/chinese-chess-191

_____________________________________________________________________

PUSHED STARTING DATES

A number of existing offers as well as future offers are coming with delayed start dates.

https://www.preplounge.com/en/consulting-forum/pushed-starting-date-6807

https://www.preplounge.com/en/consulting-forum/semester-extension-due-to-covid-19-6724

https://www.preplounge.com/en/consulting-forum/mckinsey-offer-pushback-covid19-6768

https://www.preplounge.com/en/consulting-forum/mck-associate-job-offer-6737

(If this happens, use the time to both upskill and find a 2nd job/internship in the meantime)

____________________________________________________________

REDUNDANCIES RISK

https://www.preplounge.com/en/consulting-forum/covid19-redundancies-risk-6728

Some of the tier two firms are cutting costs through:

  • Setting pay to 80%, with an opt-out policy (KPMG)
  • Letting go of some staff with <6 months tenure (EY)
  • Forcing unpaid leave for staff not on billable projects (Deloitte)
  • Stopping bonuses

So far, it seems the tier 1 firms are cutting some bonuses and being stricter with the "Up or out" system. It seems unlikely they would rescind new hire offers, but you should always have a plan B.

Al this being said different geographies are different, as are different roles...even in tough times companies do hire and projects are won.

______________________________________________________________________

DELAYED AND REDUCED HIRING

https://www.preplounge.com/en/consulting-forum/how-will-hiring-efforts-change-in-the-middle-east-because-of-the-pandemic-and-budget-cuts-by-the-saudi-government-6871

https://www.preplounge.com/en/consulting-forum/what-consulting-companies-are-hiring-interviewing-right-now-6733

https://www.preplounge.com/en/consulting-forum/are-interviews-in-the-middle-east-still-going-ahead-6832

There are a lot of companies, a lot of offices, with a lot of different timelines. I recommend you reach out to the recruiters of the offices + companies in which you are interested! This had the added benefit of you potentially being put in touch with a potential referee!

Take the initiative, reach out to the offices/companies you want, hustle hard, and find the jobs that are available and fight for them. Don't speculate...read the cards TODAY and operate as such, until something changes, then adapt.

____________________________________________________________________

THREAT TO THE BUSINESS MODEL

The top-tier firms are very nimble. They are notoriously "immune" to economic cycles. This Is because:

  • When the economy does well, MBB are hired to help companies do even better
  • When the economy does poorly, MBB are hired to help companies survive (cost costs, adapt, plan for the new world)

I can tell you that MBB are hustling hard and that when companies are in trouble, they look to MBB first for guidance. Strategy consultants help firms navigate uncharted territory...these times are when they're most needed

_____________________________________________________________________

IMPACT ON TRAVEL

https://www.preplounge.com/en/consulting-forum/is-the-corona-crisis-going-to-lead-to-less-travel-in-the-future-for-mbb-consultants-6780

https://www.preplounge.com/en/consulting-forum/less-traveling-in-the-mena-region-6770

1) Yes it will affect the nature of work

2) I can't see it improving work-life balance. The fundamentals of top-tier companies in any industry are: Get the best, get the brightest, get the hungriest, charge them out for a lot, and work them hard

3) It'll change business trips in much the same way business trips will be changed across the world

4) It's anyone's guess as to whether WFH will become more acceptable in consulting. Personally, I doubt it.

__________________________________________________________________

IMPACT ON M&A ACTIVITY

https://www.preplounge.com/en/consulting-forum/potential-ma-activity-in-the-consulting-industry-anytime-soon-because-of-global-context-6771

(edited)

Book a coaching with Udayan

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Hi Natalie,

There is no denying that MBB recruiting numbers will be lower. Internship programs are going to be less impacted than full time roles as there is an expectation that 2021 will be a year of recovery and internships provide a pipeline for then.

As you mentioned USC is not a target school which means maybe 1 to 2 offers a year at most and for the west coast only. This means that in order to be competitive you have to have a very high GPA, strong extra curriculars and you have to network as much as you possible can with USC alums in MBB.

I'd be happy to look at your resume

Best,

Udayan

Hi Natalie,

There is no denying that MBB recruiting numbers will be lower. Internship programs are going to be less impacted than full time roles as there is an expectation that 2021 will be a year of recovery and internships provide a pipeline for then.

As you mentioned USC is not a target school which means maybe 1 to 2 offers a year at most and for the west coast only. This means that in order to be competitive you have to have a very high GPA, strong extra curriculars and you have to network as much as you possible can with USC alums in MBB.

I'd be happy to look at your resume

Best,

Udayan

Book a coaching with Francesco

100% Recommendation Rate

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6,315 Q&A Upvotes

USD 349 / Coaching

Hi Natalie,

I think no one can predict what the exact situation will be in three months as the situation is evolving rapidly. But for sure, MBB will recruit less this year than last year.

You did the right things so far though. If you manage to get a referral, that’s for sure what can maximize your chances to land an invitation.

In case you have other questions, please feel free to message me.

Best,

Francesco

Hi Natalie,

I think no one can predict what the exact situation will be in three months as the situation is evolving rapidly. But for sure, MBB will recruit less this year than last year.

You did the right things so far though. If you manage to get a referral, that’s for sure what can maximize your chances to land an invitation.

In case you have other questions, please feel free to message me.

Best,

Francesco

Book a coaching with Clara

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Hello Natalie,

It´s great you are trying to anticipate.

However, none knows how the situation will evolve -if so, this person should be investing in stock exchange atm hahaha-.

Best would be trying to block all that in your mind and moving forward with your application. The prep you do is never going to be useless, even if the processes get pushed back a bit in time.

Hope it helps!

Cheers,

Clara

Hello Natalie,

It´s great you are trying to anticipate.

However, none knows how the situation will evolve -if so, this person should be investing in stock exchange atm hahaha-.

Best would be trying to block all that in your mind and moving forward with your application. The prep you do is never going to be useless, even if the processes get pushed back a bit in time.

Hope it helps!

Cheers,

Clara

Book a coaching with Andre

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USD 219 / Coaching

Dear Natalie,

Agree with other experst that situation with COVID is getting more unpredictable, so nobody knows for sure how the things will go on. MBB will continue their recruiting but in a smaller scale. That means that they wil be hiring only best of the best.

And on of the way on how you can maximize your chances of being invited to the interview is to apply through referrals.

If you need any further help or advice on application process or referrals, feel free to send me a message.

Best,

André

Dear Natalie,

Agree with other experst that situation with COVID is getting more unpredictable, so nobody knows for sure how the things will go on. MBB will continue their recruiting but in a smaller scale. That means that they wil be hiring only best of the best.

And on of the way on how you can maximize your chances of being invited to the interview is to apply through referrals.

If you need any further help or advice on application process or referrals, feel free to send me a message.

Best,

André

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