Hello,
I'm interested to know about:
1. The first few weeks as a novice consultant.
2. How things might change after a few months.
3. What other activities might be involved over the course of a whole year?
4. What about your second year?
A second question: what are the main challenges that an analyst/ senior analyst faces, even at more junior levels?
Thank you!
Hi there,
These are big questions! There are so many different elements here that could be addressed.
I highly recommend you pick up the phone and have some networking calls with people - this is one of the main points of networking (to better understand the job. Some oversimplified answers are:
1. Training.
2. You'll be on a project learning on the job.
3. More projects
4. More projects
A second question: what are the main challenges that an analyst/ senior analyst faces, even at more junior levels?
This is a 5th question ;). The challenges are going to be different depending on the individual. For some it's the quant side (excel, Alteryx, modeling etc.). For others it's the frameworking side. For others it's the client management side. For others it's the industry/business knowledge.
^You might see an interesting pattern here…casing prepares you for the job itself!
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LET'S ANSWER YOUR REAL QUESTION (LEARN TO BE MORE OBJECTIVE-DRIVEN/CONCISE) - HOW DO I PREPARE FOR THE JOB?
MOST IMPORTANTLY: Know that no-one can perfectly prepare for the job and that's the point: You will mess up, you will learn, you will be trained and supported. That's OK!
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First: I have a consulting survival guide handbook with 25 key tips for surviving the consulting world. Feel free to message me for it!
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Second: In terms of things you can learn/do to prepare beforehand:
1) Daily Reading
2) Industry deep-dives
3) Analytics tools
4) Excel
5) Powerpoint
6) Presentation skills / sharp communication
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Third: In terms of doing well in your role when you're there:
1) Understand the context/prompt (what role are you in, what company, who's watching, etc.)
2) Understand the objective (what, specifically, is expected from you...both day to day, and in your overall career progression)
3) Quickly process information, and focus on what's important - Take a lot of information and the unknown, find the most logical path, and focus on that.
4) Be comfortable with the unknown, and learn to brainstorm - think/speak like an expert without being one
In summary, there will always be a flood of information, expectations, competition etc. and not enough time. Find out which ones matter when. (i.e. be visibile and focus efforts on the things that people care about)
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Fourth: Here are some great prior Q&As for you!
https://www.preplounge.com/en/consulting-forum/how-hard-is-it-to-excel-in-top-consulting-firms-6762
(edited)
As Ian said, the best way to get your answers is by talking to someone who is/has been working at one of your target firms…
Still, let me try to give you some simplified insights on your question:
Q1. Activities within the first few weeks
Q2. After 3-6 Months
Q3. Initial year
Q4. Second year
(Your second question should be somehow covered in my explanations above)
My illustrations above are somehow metaphorical and can of course vary strongly from each firm, context or individual person. I think it can give you a potential perspective on “what you will do in your first year as an analyst”.
Reach out if you have more (specific) questions!
Hi,
Sharing my perspective having gone through the ranks.
At MBB and bigger firms, typically you would start with an orientation/beginner training.
Your life will then become a mix of projects and proposals (depending on the pipeline), with some occasional office-related activities (e.g. maybe an offsite).
Typically as analysts progress, they get given more responsibilities and are expected to perform at a higher level with every year that they progress.
The main challenges IMO would be in terms of really demonstrating module ownership - this is what I see most of my analysts struggle with.
Happy to chat on this with anyone who is interested.
