Hi everyone, wanted to ask for some advice specific to the U.S.A as I know each global region differs significantly.
Quick background, I am a recent M.D graduate that decided recently to apply for management consulting while I was still in medical school which is a MBB target (Top 20 medical school in the U.S). My academics were strong given that I was originally aiming to pursue a highly competitive specialty in medicine. However, I decided to pivot after the summer program deadlines late February and was only able to apply for full-time positions. Unfortunately with the state of the economy, Bain had almost zero headcounts for full-time for ADCs at all, and neither McKinsey nor BCG hired any MDs during full-time as far as I'm aware. ~10 MDs I know spread out across the country with differing resume strengths, so quite competitive, were rejected for full-time without interview.
While frustrating, I understand that the systemic factors are outside of my control. I'm currently pursuing a postdoc at a nearby MBB target graduate institution to retain student status as to apply for the ADC summer programs next year that I missed out on this year.
My main question is how I should strengthen my resume for the spring cycle. I know I lack business experiences as virtually every M.D who decided late on consulting do, but would any business internships be good or are there any specific business fields I should target for an M.D? I'm also interested in venture capital so applying for some of the fellowships open to M.Ds as well, would those be helpful also? Lastly, what else aside from business internships would consulting firms like to see on the resume?
Would appreciate any advice, thank you all!
Reapplying to MBB, how to strength resume?
Hello,
To answer your questions:
Would any business internships be good or are there any specific business fields I should target for an M.D?
I think that business internships would be a good idea for someone with your profile due to the relative lack of experience that you mentioned. Within that, I would look for the following:
- Big brand name company
- A sector with skills that are transferable to consulting (e.g., in-house consulting, strategy)
Beyond this, as long as you are learning useful skills, have some responsibilities, and do good work in the internship, what exactly it is that you are doing matters less. Consulting firms also look for traits like leadership, teamwork, adaptability, and showing initiative, so if your internship allows you to learn/showcase any of those skills, that would be good.
I'm also interested in venture capital so applying for some of the fellowships open to M.Ds as well, would those be helpful also?
Absolutely!
Lastly, what else aside from business internships would consulting firms like to see on the resume?
Broadly speaking, anything that can showcase leadership, teamwork, initiative, and an entrepreneurial mindset. This can be internships, on-campus organizations, volunteer positions, or something else. Quantitative aptitude is important too, but your medical degree will cover that.
Hi there!
First of all, I love your clarity and sense of purpose. It makes me confident that you're going to make it eventually regardless of what we might even write here in the comments :)
Basically, I see 3 things that you can do:
- Get some ‘consulting-like' experience. This could mean joining a consulting club, doing a consulting internship or even starting something on your own. Displaying consultant-like skills is a huge part of getting firms interested in you.
- Get your CV & CL professionally reviewed. Most candidates assume that their CV & CL is ‘good enough’ and should do well, which is why most people get rejected. Once you've had it professionally reviewed, you'll see there is a significant gap between what good and great look like.
- Apply broadly. You can check out the article below, but in short, in a period such as this, you shouldn't only be aiming for MBB. You should first aim to enter the industry (ideally in the best firm possible) and then start moving around in 1-2 years when the market is better.
Best,
Cristian
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Hi there,
First of all, read this article for general tips on getting a job (full-time and internship tips are very similar): https://www.preplounge.com/en/articles/how-to-get-a-consulting-internship-tips-and-tricks
Second, I appreciate that you have flagged the economy/state of hiring as a factor: This cannot be underestimated!
Third, please don't underestimate the importance of networking
Finally, please don't underestimate that everything is probabilities. You might have a perfect resume and still not get interviewed - which is why you want to make sure to cast the net wide.
Now, in terms of strengthening your resume:
#1 advice here is to join a experiential learning/pro bono consulting gig. You should join several of those. Most have you work 5-10 hours/week for a few weeks/months. This is perfect for you to round out your resume to “look” more suited to consulting and simultaneously build up your business/consulting experience so as to perform better in the interviews.
Hi there,
1) Would any business internships be good or are there any specific business fields I should target for an M.D?
Ideally I would prioritize experiences with:
- Strong brand
- Related to strategy
The best option if applicable would be another strategy consulting firm. You might want to target one covering healthcare to maximize chances (eg ZS Associates, LEK, IQVIA, ClearView, Putnam). Besides consulting, roles in F500 in strategy, VC or PE would also be good.
2) I'm also interested in venture capital so applying for some of the fellowships open to M.Ds as well, would those be helpful also?
VC would be good as an industry.
3) Lastly, what else aside from business internships would consulting firms like to see on the resume?
For the CV, I would recommend this:
▶ How to Craft a Great CV for Consulting
Besides a strong CV, I would recommend finding a referral to strengthen the application, you can find more on that here.
Good luck!
Francesco
Hi there,
agree with the other coaches here - adding strategy-relevant experiences would be very helpful - be it with lower tier consulting firms, pro-bono consulting gigs, corporate strategy roles etc. Beyond that, other relevant (internship) roles with strong brands in the corporate world (esp Fortune 500 companies) will strengthen your candidacy too. With your specific profile, gaining a few months experience in big pharma can typically be a reasonable choice, for example.
Feel free to share your CV via DM, then I can take a quick look and advise specifically.
Hope this helps.
Regards, Andi
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