Can I break into MBB consulting
Hey All, need some advice on what my chances are of breaking into MBB.
For context, I have a very unique background and would love to hear thoughts from anyone.
I started my career right after A Levels where I got A*, A*,A. I joined a B4 accounting firm as an audit apprentice covering Banking & Capital Market clients. I was here for about 2 years when I decided audit really wasn't for me.
I then moved to a FO asset management role on a 1 year program. I had a 6 month rotation as an investment specialist covering High Yield and Investment Grade credit and now work as a research analyst in the private markets division covering infrastructure equity (renewables, transportation etc) . The asset management firm l'm at is an insurance add on (think Aviva Investors, M&G, LGIM etc).
If it helps l've completed some of the ACA exams, and in my current role have actually worked on some deals although I mainly do top down analysis of the market.
I recently got accepted to the MSc Global Finance Program at Bayes because of my experience despite not having an undergrad (I know it's not a target uni but since I don’t have an undergraduate was my only shot as didn’t want to go back for one). The course is part time for anyone wondering, my question is with my experience and now a qualification from an actual university do I have a shot at recruiting for MBB?
Ideally l'd like to do an off cycle internship or summer internship first but I want to know realistically what the chances are of breaking in.
I understand it will be extremely difficult to get in but is there realistically any chance whatsoever? Ideally l'd like answers for the UK/European area specifically.
Based on the most helpful WSO content, breaking into MBB (McKinsey, Bain, and BCG) with a non-traditional background is challenging but not impossible. Your unique journey from A Levels to audit and then to asset management, coupled with your recent acceptance into the MSc Global Finance Program, showcases a diverse skill set and a strong drive for success. Here are some tailored insights and steps you can take to increase your chances:
Leverage Your Unique Background: MBB firms value diversity in thought and experience. Your experience in audit, asset management, and especially in niche areas like infrastructure equity in renewables, can be a strong differentiator. Highlight how these experiences have equipped you with a unique perspective on problem-solving and strategic thinking.
Network Strategically: Networking is crucial. Connect with MBB consultants and alumni through LinkedIn, your MSc program, and professional events. Your goal should be to get referrals and insights into the recruiting process. Given your non-traditional path, personal connections can significantly impact your application's visibility.
Focus on Quality Case Prep: As mentioned in the WSO dataset, quality of case preparation is more important than quantity. Seek out case prep sessions with those who have successfully secured offers from MBB or are involved in the recruiting process. This could include second-year students in your program, alumni, or professionals you meet through networking.
Highlight Transferable Skills: In your applications and interviews, emphasize the skills you've gained through your diverse experiences that are relevant to consulting. This includes analytical skills, teamwork, leadership, and the ability to drive results in uncertain environments.
Research MBB’s Preferences: Some MBB offices may have a history of hiring candidates with backgrounds similar to yours, especially those that value diverse experiences or have a focus on the sectors you've worked in. Tailor your applications to these offices.
Consider Off-Cycle Internships: Off-cycle internships can be a great way to get your foot in the door, as they may be less competitive than summer internships. They also show your commitment to transitioning into consulting.
Prepare Your Story: Be ready to articulate why you want to move into consulting and why MBB specifically. Your story should logically connect your past experiences, your current aspirations, and how an MBB role fits into your career path.
Given the competitive nature of MBB recruiting, especially in the UK/European area, there's no guaranteed path. However, candidates with non-traditional backgrounds who demonstrate exceptional skills, a clear motivation for consulting, and a strong network can indeed break into these top firms. Your journey and the proactive steps you're taking, like pursuing the MSc Global Finance Program, already set a solid foundation. Now, focus on strategically building upon this foundation to enhance your candidacy.
Sources: Case study interview for MBB consulting - 24 of my best tips on how to get in, Q&A: I was a consultant and interviewer at McKinsey, Case study interview for MBB consulting - 24 of my best tips on how to get in, NE M7 to MBB: What I wish I knew, observations, and ask me anything, NE M7 to MBB: What I wish I knew, observations, and ask me anything
How did you move from Audit to AM, was it the Investment20/20 scheme?
Yep I20/20 Program. My experience didn’t add much except came across more polished in interviews and understood modelling which was quite useful.
Honest thoughts:
- summer internship will be tough. The bar here is high. Still possible
- full time is possible, but Bayes may really hinder your application. There are Partners at McK who do not have an undergrad degree (but then obviously very good work experience and very sharp).
Would an off cycle internship in IB increase my chances? I’m interviewing at a few places (some BB’s and some Eurozone banks - think BNP, Credit Agricole) in M&A focused on O&G/Infra/Power Markets. I’m also interviewing at a few places on the buyside (Emerging Markets Debt off cycle, Private Credit, Infra Private Equity etc)
The masters is 2 years so I do have time for another internship before the next summer rolls around. I’m not sure if my “unique” background helps my application or not. I understand Bayes isn’t exactly target have seen a few people break in but usually from the MBA program or preceded by an MSc management from LBS/UCL etc.
Does university reputation really matter as much as people say? I’ve read that MBB are slowly shifting away from traditional target universities and some of them are more lenient on your university recruiting from unis similar to Bayes like Exeter for example.
Thanks for your reply btw really appreciated!
Happy to help.
Update: Have managed to secure 2 offers one full time and one 12 month internship, anyone have any idea on which of these will position me best for MBB down the line?
Private Credit Internship (not at a MF), 12 months, fund $38 Bn AUM. Focused on senior secured so not opportunistic or distressed investing. Main responsibilities will be building out Cash Flow Models, Projections, Underwriting Investments etc.
Full Time Junior corporate development analyst: renewables company focused on CCUS (focus on decarbonising industries like cement, refineries, steel etc) using CCUS. Around 44 million in revenue in 2023 so not too large but would say around mid sized. My responsibilities would be to provide the analysis on projects (so modelling both cash flow and project finance), researching markets and providing valuation analysis and competitor benchmarking, DD on acquisitions & contributing to corporate strategy (what should our target markets be, where should we expand etc)
I’d be studying my masters alongside both of these, regardless of what I end up taking.
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Both of these sound good - congrats. I’d take whichever you find most interesting, MBB will not care about either unless one has a significantly better name brand.
I know of people who joined who have both backgrounds, I’ve worked closely with an EM and Partner (on the same study) who worked full time at a company similar to your Option1.
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