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Break into McKinsey, BCG, Bain, Oliver Wyman, Accenture, and other top management consulting firms with resources provided by top consultants and ex-consultants from around the world. The Management Consultants Network provides you everything you need to succeed in the consulting recruitment process - from start to finish. Best of all? It's completely free. Register for the site and check it out. 

Posted by Khaled Kteily on in All About Consulting

Management Consulted has recently published a list of salaries at major consulting firms (one of the most interesting posts they come out with once or twice a year). Without commenting on the accuracy on any of these, I'd like to reproduce some snippets their blog post below:

For undergraduate students, take a look at the following numbers, organized by total base + signing bonus figures (ordered by total in Canada):

  1. Oliver Wyman: $75k base with $10k signing bonus ($85k)
  2. Bain: $70-75k base with $5k-$7k signing bonus ($75k-$82k)
  3. Booz: $72k base with $5k signing bonus ($77k)
  4. BCG: $72.5k base with $5k signing bonus ($77.5k)
  5. Accenture: $67-$68k base with an $8k-$10k signing bonus ($75k-78k)
  6. McKinsey: $70k base with $5-6k signing bonus ($75k-$76k)
  7. A.T. Kearney: $65k ($70k in Toronto) base with $5k signing bonus ($75k)
  8. Deloitte: $72.5k base ($60k in Canada) with $10k ($3k in Canada) signing bonus ($63k)

A few interesting notes:

1. Oliver Wyman has the highest base and signing combined

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I get this question fairly frequently. After all - the leadership essay is optional, right?

WRONG. 

 

Always write one.

...

Posted by Khaled Kteily on in Preparing Your Applications

As a student, I was a big fan of Management Consulted. They had a ton of free articles, great advice, and products that were absolutely worth buying. Their list of 'featured posts' covered everything you needed to know, and with Kevin Gao's permission, I reprinted some of his articles on CV and CL writing for the 'Consulting Booklet'. In fact, his work is featured heavily in our 'Expert Blog Content' section. 

Over the past couple of months, I noticed a shift towards much more sensationalist titles ("discover a hidden resource to supercharge your way into the management consulting world"), in-your-face advertising of their bootcamps, and the publication of low-value, high-cost e-books such as 'The Networking Bible' ($95 for people's contacts? Really?).

Here's the thing, though: Kevin no longer runs the site. As of May of 2012, someone else is running the site. This explains the drop in the type of content that shows up on the site, and the comments that I've received from students about it. 

I still think the site is a great resource, and the content posted over the past few years is very valuable. Just take everything that's posted from now on with a grain of salt, and think twice before purchasing any of their new materials. In an upcoming post, I'll simply give you the e-mail format for all the major consulting firms. No need to pay me $95 for the privilege ;)

Posted by Khaled Kteily on in Networking & Reputation

Full-time positions are tough to come by; internships are even more difficult by virtue of the number of positions available (generally a couple at each firm). Still - some students will be in the fortunate position of holding multiple internship offers. For those of you, congratulations! Here are a few critical points to keep in mind throughout the process:

1. Don't take forever to answer. 

This one is very important - the longer you take to answer a company, the less excited they think you are about joining. Don't keep a firm waiting for too long - a week or two is understandable, especially if they know you have other offers, but don't take longer than that, and give them a valid reason. At some point, you will have learned everything there is to know about the company - you don't need details about which cubicle you'll sit in, what type of laptop you'll get, and what the dress code is on Fridays. 

You've built good will by receiving an offer. Learn what you need to know and then make a decision. I've heard stories about students who received internship offers but took so long to reply that they lost all partner-level support - that hurt their reputation and prospects when they did accept the offer. Don't be that guy (or girl)!

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One of my first managers once told me that the secret to getting things done is to "work smart, not hard". And while success will always require hard work, there are a few things you can do to make the process a little bit smoother for you. Short on time? London Business School has conducted an analysis on the most popular types of case interviews. By studying up on your approach to these types of cases, you can maximize your odds of success.

A thank you to Nevin Kamath from The Case Coach for his post about this data. Take a look at the following chart to see the results of a Bain case study and click through to get some further insight into the ups and downs of the consulting lifestyle.

 

Most students will make one of two mistakes when job-hunting:

1. They won't use LinkedIn whatsoever

2. They will use LinkedIn incorrectly

The following is a great article by a student who managed to get into a major IBank (GS/MS/JPM) from a "semi-target" school through very targeted and effective use of LinkedIn. I've added some additional comments and perspectives about what he did right, what he could have improved, and what not to do when using LinkedIn to get an interview.

Posted by Khaled Kteily on in Industry Knowledge

Healthcare (especially in the US) is a rapid area of growth in consulting, and as this blog post will tell you, healthcare is one of the most common industries to appear in consulting interviews. Inspired by some of my recent project work, as well as Oliver Wyman's intellectual capital, I've written about some factors affecting the state of the pharmaceutical industry.