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Francesco

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Recent MBA and 7+ years experience as an Independent Financial Advisor - Where/how to start prep?

Hi Everyone,

I am new to the site so I apologize in advance if this has been asked.

I am looking to break into the consulting industry. I have talked to some friends that are in the field and am told that I would be hired as an experienced hire. However, when I look at the job listings they all require experience in things that I know nothing about. Other listings ask for X amount of years experience as a "consultant" so I am a little thrown off as to where to start the search.

Also, and equally if not more important, I lack the interview/case experience. I see a lot of material and various courses online but honestly, I have no clue where to start and which site to start with. Making a career change is a big move for me (turning 34 soon) so I want to position myself as best as possible.

I would love some insight into what material works best, or if I should use multiple sets of material. Really I just need some advice on where to start. I am more than willing to dedicate as much time as needed to get this right and I would like to get going as soon as possible. So far I have only watched a couple of case videos, done some mental math tests (clearly I need a lot of improvement), and have met with some consultants in my network.

So I guess to recap-

1. What listings should I really be going for?

2. What material(s) should I be using?

3. What is the best path to take as far as practice and prep go?

Thank you all for reading all this, I appreciate all of you.

-Saba

Hi Everyone,

I am new to the site so I apologize in advance if this has been asked.

I am looking to break into the consulting industry. I have talked to some friends that are in the field and am told that I would be hired as an experienced hire. However, when I look at the job listings they all require experience in things that I know nothing about. Other listings ask for X amount of years experience as a "consultant" so I am a little thrown off as to where to start the search.

Also, and equally if not more important, I lack the interview/case experience. I see a lot of material and various courses online but honestly, I have no clue where to start and which site to start with. Making a career change is a big move for me (turning 34 soon) so I want to position myself as best as possible.

I would love some insight into what material works best, or if I should use multiple sets of material. Really I just need some advice on where to start. I am more than willing to dedicate as much time as needed to get this right and I would like to get going as soon as possible. So far I have only watched a couple of case videos, done some mental math tests (clearly I need a lot of improvement), and have met with some consultants in my network.

So I guess to recap-

1. What listings should I really be going for?

2. What material(s) should I be using?

3. What is the best path to take as far as practice and prep go?

Thank you all for reading all this, I appreciate all of you.

-Saba

3 answers

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Best Answer
Book a coaching with Francesco

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USD 349 / Coaching

Hi Saba,

I would recommend the following steps to organize your preparation:

  1. Identify the companies interesting for you. Many people are interested mainly in MBB, you can start defining the exact list of companies interesting for you for the internship
  2. Define a calendar for your preparation. Check if there is any deadline for the internship applications. Then identify how many hours you have before that and allocate a time slot for preparation in your calendar for each day, working on the points below. Many people need 100+ hours to be ready before the interview so you can keep that as a benchmark
  3. Read Case In Point or Case Interview Secrets for a general understanding of what a consulting interview is. Don’t focus on the structures proposed in the books though, as they are not good enough nowadays.
  4. Start reading good MBA Consulting Handbooks – you can find several for free online (Insead is a good one to start). Read the cases and try to apply your structure to solve them. Whenever you see there is something missing, upgrade your structure with the new insides. PrepLounge also has a Case Library that you can use. Handbooks usually don’t have a good initial structure, but are useful to develop creativity. Try to read at least a new case per day – in this way you will absorb better the information with constant learning.
  5. After the first 5-10 cases in books/handbooks and basic theory, start to practice live. PrepLounge can be helpful to connect with other candidates for that. There is a relevant part of the interview score that is based on your communication, which you cannot practice at all if you read cases only. Keep track of your mistakes and see if you repeat them. If so, try to identify the source of the mistake (feedback of experienced partners would be particularly useful for this). Be sure to focus on both the behavioural part and the case part. The case part should also cover market sizing, mental math and graph analysis.
  6. Before your application, be sure to review your CV and Cover, so that they are in the required format for a consulting application
  7. At least three weeks before the application deadline, start networking to find referrals for your target companies. You can find some tips on how to do that here: https://www.preplounge.com/en/consulting-forum/hey-everyonehope-all-is-well-3176
  8. Once you feel you are not improving anymore, if you have a tight time constraint or if you want a realistic assessment of your level, consider using support from experts to strengthen your performance
  9. Before the interview, be sure to prepare your questions for the interviewer –great way to show you prepared in advance and to connect with the interviewer for a good final impression.

In terms of the application: given what you mentioned you will probably have to apply for a post-MBA position (Associate at McK/ Consultant at BCG), unless you have experience that you can leverage for a specific practice.

Best,

Francesco

Hi Saba,

I would recommend the following steps to organize your preparation:

  1. Identify the companies interesting for you. Many people are interested mainly in MBB, you can start defining the exact list of companies interesting for you for the internship
  2. Define a calendar for your preparation. Check if there is any deadline for the internship applications. Then identify how many hours you have before that and allocate a time slot for preparation in your calendar for each day, working on the points below. Many people need 100+ hours to be ready before the interview so you can keep that as a benchmark
  3. Read Case In Point or Case Interview Secrets for a general understanding of what a consulting interview is. Don’t focus on the structures proposed in the books though, as they are not good enough nowadays.
  4. Start reading good MBA Consulting Handbooks – you can find several for free online (Insead is a good one to start). Read the cases and try to apply your structure to solve them. Whenever you see there is something missing, upgrade your structure with the new insides. PrepLounge also has a Case Library that you can use. Handbooks usually don’t have a good initial structure, but are useful to develop creativity. Try to read at least a new case per day – in this way you will absorb better the information with constant learning.
  5. After the first 5-10 cases in books/handbooks and basic theory, start to practice live. PrepLounge can be helpful to connect with other candidates for that. There is a relevant part of the interview score that is based on your communication, which you cannot practice at all if you read cases only. Keep track of your mistakes and see if you repeat them. If so, try to identify the source of the mistake (feedback of experienced partners would be particularly useful for this). Be sure to focus on both the behavioural part and the case part. The case part should also cover market sizing, mental math and graph analysis.
  6. Before your application, be sure to review your CV and Cover, so that they are in the required format for a consulting application
  7. At least three weeks before the application deadline, start networking to find referrals for your target companies. You can find some tips on how to do that here: https://www.preplounge.com/en/consulting-forum/hey-everyonehope-all-is-well-3176
  8. Once you feel you are not improving anymore, if you have a tight time constraint or if you want a realistic assessment of your level, consider using support from experts to strengthen your performance
  9. Before the interview, be sure to prepare your questions for the interviewer –great way to show you prepared in advance and to connect with the interviewer for a good final impression.

In terms of the application: given what you mentioned you will probably have to apply for a post-MBA position (Associate at McK/ Consultant at BCG), unless you have experience that you can leverage for a specific practice.

Best,

Francesco

Book a coaching with Jessica

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Hi,

The answers already given have some helpful tips, so I don't think it is necessary for me to add anything else here. However, I joined the consulting industry post-MBA after a career in Wealth and Asset Management, so I'm happy to chat with you further about strategy and to answer any specific questions.. I also have some great methods for starting case prep from scratch. Feel free to send me a message if you would like to chat further.

Best,

Jessica

Hi,

The answers already given have some helpful tips, so I don't think it is necessary for me to add anything else here. However, I joined the consulting industry post-MBA after a career in Wealth and Asset Management, so I'm happy to chat with you further about strategy and to answer any specific questions.. I also have some great methods for starting case prep from scratch. Feel free to send me a message if you would like to chat further.

Best,

Jessica

Thank you! I will circle back when I progress a little more. — saba Candari on Feb 19, 2020

Book a coaching with Antonello

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Hi Saba,
2 months will be enough for the preparation. Therefore I recommend sending your applications as soon as possible since the process up to the date of your first interview round can last several weeks.

To prepare the case interview, Cosentino's Case in Point is enough to fix the theory. I would move then to practice 40+ cases with other candidates/experts.

Best,
Antonello

Hi Saba,
2 months will be enough for the preparation. Therefore I recommend sending your applications as soon as possible since the process up to the date of your first interview round can last several weeks.

To prepare the case interview, Cosentino's Case in Point is enough to fix the theory. I would move then to practice 40+ cases with other candidates/experts.

Best,
Antonello