Renewables/Social Science PhD entry into strategy consulting (MBB)

Hi friend, I hope you are having a great day. My answers to your questions: 
 

1. It is no drawback at all. I actually think it increases your value. Specific reasons for that:   

1.1. MBB has a strong record of non-MBAs adding value to the company, which means hiring a non-MBA profile has proved valuable for the companies. 

As from my experience, it is true. I had many different McKinsey managers (EMs), directors (APs), and partners. All of them had upsides and downsides, but the one I liked the most (by far) was an Engineer PhD.  He was highly competent in every aspect, had an analytical mind much stronger than other leaders, and was incredibly good with people. Reinforcing: not an MBA, but an Engineer PhD. Together with that, I met many people without business degrees who are doing super well in McKinsey. 

1.2. The consulting market is drastically changing to add value by being specific and bringing outside knowledge instead of only applying business knowledge. 

As you are hearing in the news, consulting companies are changing themselves with the current technology and information flow changes. One trend is that consulting companies need specialists to convince their clients about their value. In the past, sales initiatives and new organizational structures would be enough; today, you need to bring a specific value that can`t be found with a Google search or chatgtp prompt. 

1.3. Your specific field (Renewables) is a market trend for almost all industries, making you more attractive as an employee. Future consulting clients will see the value of a renewable specialist on the consulting team. 


2. Although your degree is not a problem, you must prove in interviews that you have people skills, so the answer to your question is: No, it is not enough to "brushing up on my maths, taking up quantitative courses on modelling, and doing intense case study prep".  On every consulting interview, your people skills will be tested with behavior questions (PEI for McKinsey), which have the same weight as the case question. It is essential that you also prepare how to show these skills. 

Hi there,

1. Not at all - you would be a great fit. Keep in mind that around 50% of MBB consultants do not have a business background. The interviews are designed in a way to test your problem-solving, analytics, communication, and maturity among other things - not knowledge of relevant business concepts. Of course, it does not hurt to familiarize yourself with different business scenarios but this will come with proper case prep!
2. The most targeted way is to work on case math problems and drills among other things. Let's break this down:
    

• The key reason why candidates fail their case interviews and don't improve with practice is because they never learn the right approach and techniques to begin with. They might go through 30-40 cases, just repeating the same mistakes over and over again. There is often no strong baseline.

• Make sure you understand and learn the basics for each part of the case (structuring, charts, math), which is

  • A replicable step-by-step for each part of the case interview

  • The right thinking techniques around the individual parts (e.g., what's a framework, what is evaluated, how can I ensure I think about it the correct way, what are some shortcuts to get to the answer quickly, etc.)

  • Simple communication templates to help you communicate your insights as well as ask for data in the right way to drive the case forward

• There are several approaches you can take, such as hiring a skilled coach, reading the right materials, or enrolling in relevant courses. For example, while some chatbots may suggest a list of books, my book, The 1%: Conquer Your Consulting Case Interview, provides direct guidance tailored to modern case interviews. It covers all the essential points mentioned here, and more, while also offering a detailed preparation plan. You can find it on Amazon

• Avoid generic advice and framework memorization approaches. This will only hurt your performance and waste a ton of time (why -> check out the first post here: https://www.preplounge.com/en/consulting-forum/how-goodrelevant-is-the-case-in-point-book-for-case-prep-1984)

• Once you have that baseline it's time to practice and internalize the skills to create the right profile, polishing your strengths and lifting your weaknesses to a robust-enough level

• Practice drills alone (structure, chart, math) and practice full cases with other excellent candidates that know the right habits and approach. It is crucial that you are practicing with really good peers, otherwise, it's a waste of time. Practicing drills on your own is a huge effectivity and efficiency booster since you can go over many more questions in a shorter amount of time compared to practicing with peers. Do both in parallel! You want to spend your time where it is most useful, e.g., if you struggle with math focus on math drills, etc.

• Focus on quality over quantity. Doing 50+ cases does not mean much if you are not applying the right habits to score high and do a detailed debrief after every case to improve. You want to move from bad to good for your weaknesses and good to great for your strengths --> use the feedback from your previous experience and tailor your prep accordingly

• Consider booking at least an initial coaching session to get a detailed and objective evaluation of your performance + learn the right habits for every case regardless of context and framework + get a tailored preparation plan out of the session that will set you up for an effective and efficient prep.

• For your prep, tailor the cases to the firm you are applying to. McKinsey cases for instance are quite different from BCG and Bain

• Don't forget the fit interview part. Prepare answers for all the typical fit questions and stories (3-5 hours) and rehearse them a couple of times (5 hours)

If you follow this approach, you are set up for success! :-)

All the best with your prep!

Cheers,

Florian

Hi there,

1) Is not having a business/management background (MBA) a serious drawback?

Many consulting firms accept PhDs in their recruiting process. If your school is a target school, receiving invitations should be doable. You might also check LinkedIn to see if you find a positive track record of candidates with a similar background.

2) Although I have studied higher maths (and competed in regional contests), I don’t hold official degrees/qualifications (MSc/BSc etc). Would brushing up on my maths, taking up quantitative courses on modelling, and doing intense case study prep be enough to increase my chances of landing an interview?

To land the interview, they will judge your application materials. Your case study skills, math, etc., will be considered AFTER they have selected you for interviews (during the interview process).

To increase your chances of landing an interview, you should ideally have a great CV, a great cover letter, and a referral. You can find more about it below:

▶ How to Get a Consulting Interview Invitation

If instead you meant what is necessary to secure an offer, I would recommend the following:

▶ How to Prepare for a Consulting Interview

Good luck!

Francesco

Hi there,

I would be happy to share my thoughts on your questions:

• First of all, consulting firms value diverse backgrounds, so not having a business background is typically not seen as a disadvantage at all.
• Moreover, to get invited to interviews, you should focus on polishing your application files and securing a strong referral from your target office, as this is all that will be assessed during the screening phase.
• Lastly, to succeed in the interviews, you should excel in both the case study and personal fit parts of the interviews, as well as in any pre-interview assessments. For the case study part, it is certainly important to be quick and good at written math, although you will get better at it anyway through case study practice. 

You can find more on this topic here: How to succeed in the final interview round.

If you would like a more detailed discussion on how to best prepare your upcoming applications, please don't hesitate to contact me directly.

Best,

Hagen

That is an excellent background for BCG! The firm's Climate & Sustainability (C&S) and Energy practice areas (and the overlap between the two) are growth areas and a top priority for global leadership. I was affiliated with both and would be happy to share more insights on your application strategy (e.g., who to reach out to, how to position yourself, how to prep a strong CV, and secure a referral). 

I left BCG to join a late-stage energy storage start-up (Form Energy). I'd be curious to hear more about your research and work in the storage space.