Management Consultant Jobs on your mind?
Moderator: MBACrystalBall
Re: Management Consultant Jobs on your mind?
Post by PrachiC » June 20th, 2013, 12:33 am
I'd really appreciate your feedback on whether I'll be suitable for a consultant job.
I'm a third year student at Jesus and Mary College, DU, pursuing Economics (H). I've had a decent score over the last two years in my exams (72%).
I attended the London School of Economics' summer school program in 2012 for a course in Management (Business development using ICT) and am currently interning at a company in Delhi that's the largest in the country who provides end-to-end e-commerce services to their clients. My primary job is SMO (Social Media Optimization) under digital marketing and I'm yet to experience more (It's only been a week since I joined.)
I've found some answers to the question- what do economics majors do?- and one of the best suited jobs is that of an analyst. But I'm not too sure if that's what I want to.
I like microeconomics, so I can say I like firms. I like solving problems because I like being the one who solves problems.
Currently, I'm applying for deferred MBA to the top B-schools globally.
I would really appreciate your feedback and what you think will be the future of my uncanny relationship with consultancy.
Thanks a lot!
(I'm not to sure if you'll need to know this or not, hence I'm providing you the information anyway)
I'm artsy and have won several awards for street theatre, films and photography.
-
- Posts: 234
- Joined: May 20th, 2012, 6:12 pm
Re: Management Consultant Jobs on your mind?
Post by mbadropout » June 29th, 2013, 8:05 am
Doing an MBA to execute a career change is definitely an option. If you have done your homework (why MBA, why nothing other than an MBA is going to help, finances, etc.), then it might be worthwhile to go ahead.
It is not uncommon to see people executing small shifts in their career trajectories over time. If your current work is no longer interesting / challenging to you, have you explored opportunities that generally align with your prior / current work, but at the same time deviates from it just about enough for you to like it? For instance, a mechanical engineer that belongs to the design team at a manufacturing plant / company might switch to a quality-oriented role. That way, he gets to use all of his prior design experience, and at the same time takes up a challenging quality role. Another one that I have seen recently - a math/statistics major at a multinational company takes up a role with a focus on finance and controlling, where lies his interest. I would urge you to think about these options as well.
-Amit
-
- Posts: 234
- Joined: May 20th, 2012, 6:12 pm
Re: Management Consultant Jobs on your mind?
Post by mbadropout » June 29th, 2013, 8:07 am
A little more info on your job profile would have helped, but from what you have given me, looks like your current role is not particularly quant/analysis-heavy - something that recruiters at consulting firms are always very interested in. With 4 years of what I would call non-relevant experience, you fall into the gray area where you are past the typical analyst profile, but too young for more senior roles. I have seen some strange things happen, and it is possible that lady luck shines on you with all her might, but with your current profile, it might be a tad bit difficult to make it into pure-play consulting right away.
Here is what I would do to prep myself towards a consulting role / job:
1. Take up a quant-heavy role. You don't necessarily need to switch jobs, or take up a math/statistics role. There would be plenty of roles in your current industry.
2. The shortest shortcut for someone at your age / experience is to do an MBA from a good school and join a consulting firm. Do give it a thought.
3. I can't stress the importance of befriending people that work in consulting. When new engagements suddenly pop up, and managers start running helter skelter for new resources, a less than favorable resume landing on the right table at the right time might just do the trick.
-Amit
-
- Posts: 234
- Joined: May 20th, 2012, 6:12 pm
Re: Management Consultant Jobs on your mind?
Post by mbadropout » June 29th, 2013, 8:08 am
The short answer to your question is - no.
And here is the long answer:
Consulting is an industry where people of all specializations, skills, trades and crafts are employed. To give you an extreme example, consulting companies that work in pharma usually keep a couple of doctors / physicians on their rolls as SMEs. IT consulting companies hire experienced developers, some that had been freelancers all through their professional lives (in a niche field), as Senior Architects, to oversee super-critical projects. A sizable proportion of such people, holding senior positions, don't have MBAs.
-Amit
-
- Posts: 234
- Joined: May 20th, 2012, 6:12 pm
Re: Management Consultant Jobs on your mind?
Post by mbadropout » June 29th, 2013, 8:41 am
Having recruited at DU, my general observation has been that Economics grads from your school have a good balance of quant and "business" sense / knowledge. Profiles such as yours get routinely picked up for analyst-level roles at consulting firms. The ones that are able to make it have usually done their homework (prepared for interviews, solved cases, etc.).
If I were you, I wouldn't get too hung up on the question of "what do economics majors do". It is important to note that anyone that takes up an entry-level role at a consulting firm is labeled an "analyst". Let's just call it a "nomenclature issue", if you will, with an industry that isn't too imaginative / creative. If you are able to make it into a consulting firm, once you get over the "analyst" tag, you will find lots of options and choices to choose from, and is quite possible that you are going to like quite a few of them.
I understand that the glimmer and shimmer of the possibility of an MBA from a top school is strong enough to blind our eyes for a while. I think that instead of applying for deferred MBAs, it might make more sense for you to apply later, once you have a couple (or more) years of experience, and know exactly the career that you would like to pursue, and hence what you would like to get out of an MBA.
Lastly, the artsy thing helps, though it is more of the icing on the cake than the cake itself. The way I like to put it, many people in my line of work lead "double lives". Once the daily din of consulting dies down, they go home and pick up their cameras, brushes/canvasses, musical instruments, etc. It helps them de-stress, and get ready for the next day's challenges. Sometimes it also helps in striking a conversation with a client. So, never give up your artsy side.
-Amit
Re: Management Consultant Jobs on your mind?
Post by Vikrant » August 12th, 2013, 4:16 pm
I have found your thread very informative and would like to have some advise. A brief synopsis of my profile is as follows:
1) B.Tech - Textiles - NIT Jalandhar
2) Started my career in sales and marketing, worked in consumer durables (Hawkins Cookers) and Honda Motorcycles - a total of 3 years put together
3)Then did my Post graduate diploma in Retail marketing - MICA Ahmedabad
4)Working with auto retail giant in gulf from last 7 years.
Queries:
1) Can people with sales and marketing profile get into fields like management consulting - may be automobile domain in my case.
2) Will a PGPex course from one of the top 3 IIMs help me in getting this career shift.
Re: Management Consultant Jobs on your mind?
Post by ssn28 » August 13th, 2013, 4:33 pm
Firstly I’d like to say that this particular forum for aspiring consultants is an absolute stroke of genius and is quite a formidable resource. You guys should take a bow!
Now moving on to my case. I have 2.5 years work experience in Product Management at a mid-sized pharmaceutical firm with 500+ employees and market leaders in the specialty segment.
I have tried to distribute my experiences so far to highlight certain skills that I understand are important for aspiring consultants.
Qualification:
- Bachelors in Pharmaceutical Technology from the Institute of Chemical Technology (formerly UDCT), 72% First class with Distinction.
- Completed the Certificate program in Capital Markets conducted by Jamnalal Bajaj, Class topper
Problem solving:
- Have successfully carried out a complete overhaul of the way training was conducted at my previous organization. Structured, simplified it and developed a system to train new sales recruits. Was highly appreciated by sales force, senior managers with 20+ years of experience and top management alike.
- Introduced a new marketing approach at my company which soft sold products by highlighting benefits and was appreciated the specialists that form our customer base.
- Currently heading the expansion of my family business in the food processing industry in e-retail. This will enable us to better the customer experience while reaching out to a larger number of customers.
Leadership
- Was the youngest member in the organization’s history to be given the responsibility to conduct strategy meetings across India.
- Spear-headed and helped implement a sales force automation system that resulted in cost cutting upto the tune of 5 Lakhs INR. After finally succeeding after much opposition, was responsible for formulating an analytical system that helped measure performance based on this system.
- Co-started an initiative in which we have taught basic biology to about a 100+ medical social workers and organized entertainment programs for under-privileged children in Anganwadis.
- I have held numerous leadership positions in various clubs and was part of the core committee that organized events in college
Analytical and Presentation Skills:
- Responsible for evaluating market potential for new products, suggesting appropriate positioning, convincing professionals with 20+ years of experience about my suggestions, and then work on implementing these strategies with the pan-India sales team.
- Have won numerous awards for presentations at national level competitions as well as awards for academic performance at my undergraduate institution.
Career goals post MBA: My goal in the short term is to join the team that does Marketing and Sales Consulting at a Strategy and Management Consulting firm, with a possible focus on healthcare given my background.
In the long-term I’d like to head my family business in the food processing sector. Having created a brand in Maharashtra, I’d like to take our business to the next level by expanding to other geographies. Even though my short term and long term goal may seem disjointed, I hope to learn how to make an organization more effective and fine tune my decision making skills in business from consulting.
Extra-curricular activities
- Trained in Indian classical music for 4 years
- I am Interested in debating, won competitions in school and college, am an avid marathon runner and an amateur painter
Now for my questions:
- Given my work experience so far, do I build a good case for a switch to consulting?
- As some who aspires to be an entrepreneur in the long term, apart from data driven decision making, how do I stand to benefit from consulting?
- Also given how important quant skills are for consulting, how can I further work on those other than getting my MBA which is very much a part of the plan?
- Is it true that scores of competitive exams like the GMAT are also taken into consideration while hiring for consulting? If yes, then what is considered a competitive score?
Thanks a ton for your time!
Regards,
ssn28
-
- Posts: 234
- Joined: May 20th, 2012, 6:12 pm
Re: Management Consultant Jobs on your mind?
Post by mbadropout » August 26th, 2013, 9:05 am
Here are my responses to your questions:
1. Sure they can. Consulting is one of the few (only??) professions that employs people from every imaginable field / domain. It all finally boils down to good old demand and supply - if there are projects / assignments in a particular field / domain, consulting companies will need to staff their teams with people with relevant experience / knowledge. Having said that, I am not sure of the volume of projects / assignments within automobiles that consulting companies in India execute. You have an advantage though - you can either play the automobiles card, or the marketing and sales card (or both).
2. Though no one can tell for sure if a PGPX is going to help you execute a successful career shift, it will at least open doors. Consulting companies - the biggies and boutiques - line up for day zero at all the IIMs, and if you clear the cutoffs and preliminaries, at least you will get some face time with their recruiting teams, and hopefully be able to land yourself a position. Worst comes to worst, if IIM placements don't get you into consulting, at least you will have a big name school to show on your resume, which should open doors later on.
With 10 years of quality experience, and with NIT and MICA on your resume, you cannot go wrong with PGPX. I have seen quite a few people that have pursued PGPX turn their careers around, and there is no reason why you should not be able to as well.
-Amit
-
- Posts: 234
- Joined: May 20th, 2012, 6:12 pm
Re: Management Consultant Jobs on your mind?
Post by mbadropout » August 26th, 2013, 9:09 am
"…an absolute stroke of genius and is quite a formidable resource. You guys should take a bow!"
Let me relay the credit to where it belongs - it is Sameer's genius. I am only guilty of managing housekeeping activities on this forum.
Getting on with your questions:
Given my work experience so far, do I build a good case for a switch to consulting?
Your profile looks good - some re-sequencing is needed. I would suggest that you segregate "analytical skills" and "presentation skills," and add some more points to the analytical part. Currently it looks a little thin - consulting companies would be most interested in that part.
As some who aspires to be an entrepreneur in the long term, apart from data driven decision making, how do I stand to benefit from consulting?
A few that come to mind are:
1. Thinking out of the box - Every consulting problem will require you to design a unique solution for it. Thinking out of the box will become second nature.
2. Dynamic work environment - You will work with lots of different teams, SMEs, clients, etc. It might be challenging at first, but you will (hopefully) start enjoying it as you get accustomed to it.
3. Networking - Consulting offers you a great opportunity to network with people. Its a small world - you never know who is going to pop up where.
4. Nature of work - Multi-tasking, 16-hour workdays, etc. will be the norm (if you can make it to the right consulting company). In the long term, it teaches you to handle stress and manage work efficiently.
5. Traveling - Within consulting, if you happen to work within a domain / industry that is not concentrated in a specific geographic location, you will need to travel. If you love to travel, then consulting is going to feel like one long vacation (not quite, but…you get the idea)!
Also given how important quant skills are for consulting, how can I further work on those other than getting my MBA which is very much a part of the plan?
With 2.5 years of experience, you will most likely be offered a senior-analyst level role. In such a role, you will need to know the basics of math / statistics, preferably an analytical software package (R, SAS, etc.), and have a good knowledge of the industry (pharma).
Is it true that scores of competitive exams like the GMAT are also taken into consideration while hiring for consulting? If yes, then what is considered a competitive score?
Yes, but I believe that would be true mostly in the US. Its yet another elimination criteria - I would not worry too much about it.
Also, invest some time / effort in preparing a list of companies that you might want to apply to. Considering your work experience, ZS and Accenture (their pharma / healthcare group is growing at a fast pace) come to mind.
-Amit
Re: Management Consultant Jobs on your mind?
Post by rohitowe » August 26th, 2013, 7:31 pm
I was directed here by Sameer.
You guys are a great support for the MBA aspirants. Thanks in advance.
Why I want to get into consulting:
1. I love travelling and working with new and dyanmic teams.
2. I like data analysis and have been sharp in quants.
3. Good hike post MBA
Can you please look into my profile and tell me what fields in consulting can I get into after MBA. I mean which field is most logical according to my profile:
PROFILE SUMMARY
EDUCATION
Bachelor of Technology- College of Technology, GBPUA&T
Production Engineering, GPA 7.7/10
- 3rd in a batch of 31
- received University Merit scholarship for 2 consecutive years for being the topper of my department
WORK EXPERIENCE (4 YEARS BY AUGUST 2014)
Tata Motors Ltd, Fortune 500 and India’s largest automobile company (2010 –2012)
Assistant Manager, Material Pricing
Key Responsibility: To lead the sheet-metal team of pricing panel division, generate and execute cost reduction ideas, conduct employee training, and negotiate commercial issues with the suppliers of 6 variants across 5 states.
In just one year, became the lead in the sheet metal department, heading a team of 14 members.
Teach for India, Non Profit Organization aiming to achieve educational equity in India
Accomplished a class-wide academic growth of 1.5 years in Math and 1.2 years in English in one year of teaching.
Classroom selected to represent TFI at InspirED(International Conference)
Extracurricular
- Facilitated counseling sessions for 150 adults and teenagers
- Advisor to 17 fellow teachers in the city, responsible for their troubleshooting and mentoring.
- Selected from 600 Fellows across India to represent India at the Leadership Development Conference attended by educators from 26 countries
OTHER LEADERSHIP VENTURES
Founded an initiative to develop and conduct Character Development Workshops for students of low income schools across Delhi- Already impacted 600 students and 70 parents across Delhi, resulting in transformed class culture and student outcomes
- Assembled a workforce of about 50 volunteers to run the initiative
Vice–President, of the University Official Body of Production Engineering- led 140 University students to plan, fundraise and organize National and University level technical and social events (such as Rural Classrooms, Clothes Donation Camps
MISCLLANEOUS
- Finalist of National Business Plan competition on social ventures
- Winner of National Paper Presentation Competition
- Second Runner Up in State Badminton Championship
- Published a paper in a National Conference