Inhouse consulting vs other consultancies chances for MBB

Hi Emma!

That's a great question and shows very good long term thinking. 

In short, I'd have three things in mind:

1. Which firms / internship has a better brand? 

Brand matters because recruiters give a lot more credit when reviewing CVs to somebody who has been part of prestigious institutions previously. So aim for the biggest name you can get your hands on.

2. Which internship role is closest to what you want to do in MBB?

Think already about the sort of work and role you'd want to do in MBB. If you want to be a generalist consultant, any internship that is a generalist firm should work. If you're intereted in doing something more specific, then look for internships with firms that are more targeted.

3. How is that internship going to improve your value proposition?

The internship shouldn't only be about ticking a box, but about improving your value proposition. Pick the sort of internship that is going to develop your knowledge in the area that you're most interested in (for instance, if you're interested rather in financial services, an internship with Rewe makes little sense).

Sharing with you below a guide on how to go about the application process:

• Free Guide: Build A Winning Application Strategy

Best,
Cristian

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Hi Emma,

Congrats on having so many offers to choose between!

Please excuse my facetiousness….but you are presenting yourself with a false choice right now. You are spending time/effort on a decision you're assuming you will have to make.

Apply to dozens of positions/companies. I'm talking 30+.  Once (IF) you have multiple offers, then cross that bridge when you get there.

Additionally, remember that your odds for MBB are low. Period. No matter what. So, why not live a little? Why not pick the internship that will actually treat you best and you will enjoy and will have people supporting you and will give you good experience/exposure and will lead to a good career overall? 

(P.S. there would not be a huge difference, on paper, with the ones you pick. Rather, pick the one that you think will be best for your career overall, not 3 firms that you've decided you MUST have because of effective branding).

Here's some reading to help you get those internships:

https://www.preplounge.com/en/articles/how-to-get-a-consulting-internship-tips-and-tricks

Hi Emma,

The right internship is the one you get! 

Think of it as an arbitrary starting point, from where you can go anywhere. It may be a bit further or closer to your target (which you may or may not have and which is likely to change over the years) but it's only the first step.

I started my career as a geologist in O&G and then ended up advising blue-chip C-suite with McKinsey in very different industries. Not your typical path, but then again, there's no such thing. 

No decision you take now will prevent you from doing anything in the future!

Best of luck and let me know if I can help in any way.

Moritz

Hi there,

Q: Does it make a difference for MBB where you got your work experience from?

The strongest the brand of the consulting firm, the better.

• If MBB themselves are not an option, I would prioritize Strategy&, Oliver Wyman, Kearney and Roland Berger.
• If that’s not an option, I would target the other international consulting firms (eg LEK, ZS Associates, SK, ADL). 
• If that also doesn’t work, you can target in-house consultancy and small boutiques.

Besides consulting, strategy roles in F500, Investment Banking, Venture Capital and Private Equity also work well as experiences.

You can check below an article I wrote on the top consulting companies in terms of prestige:

▶ Top 15 Consulting Firms by Revenues and Prestige

Good luck!

Francesco

Hi Emma,

In short, yes, the brand of your internship company does matter and will have impact on your odds of getting invited. Similar to what Francesco mentioned, would look at it in terms of pecking order..

1. MBB
2. Tier 2s: Kearney, Oliver Wyman, Strategy&, Roland Berger, Accenture Strategy
3. Other external consulting firms: ADL, LEK, Stern Stewart, Capgemini Invent etc
4. In-house consultancies: Siemens, E.ON quite strong, RWE and others a bit lesser known
    

Note this is not an official, nor exhaustive ranking, but a rough perception of industry brands in DACH region. Try to climb as high in that hierarchy as possible when it comes to internship.

Hope this helps.
 

Regards, Andi

Hello,

What matters is brand name + what you actually do in the internship. 

All the internships you mentioned sound pretty prestigious to me, I don't think you can go wrong there. As long as they are good, reputable internships where you will actually be given responsibilities and will be able to learn valuable skills and have impact, you certainly won't be destroying your chances.