Would MBB and other consulting firms recognize years of experience outside consulting?

Hi there,

I hope you are doing well!

To add to the answer above, working in a strategy-related role in-house prior to consulting would reflect positively on your candidacy and does not hurt your chances. In fact, in this case it helps take into account your experience and be considered for the ‘Junior Associate’ role as Francesco mentioned.

Happy to help further,

Yousef

Hi there,

Q: Would MBB and other consulting firms value my experience and look at me as an experienced hire? If I stayed in strategy for X years, would they value my experience even more? 

With around 2 years of experience, you should still match the entry-level role (Business Analyst at McKinsey, Associate at BCG/Bain). To move up to the next level (Associate at McKinsey, Consultant at BCG/Bain), typically you would need either (i) an MBA or (ii) 4/5+ years of experience, so, from what you shared, it doesn't seem to fit your experience.

In some regions, they might also offer an intermediary role (eg at McKinsey, Senior Business Analyst or Junior Associate) to bridge the gap between these two positions. If you find these intermediate positions on their website (their presence varies by region), they usually specify the required years of experience.

If you apply for the entry-level role  (Business Analyst/Associate) and receive an offer, given your work experience, they might acknowledge some seniority and allow you to join with 6 months or 1 year of experience recognized.

Best,

Francesco

Hi there!

First, congratulations on your new role!

Second, to answer your question, it's true that neither of your two work experiences relate directly to consulting, however, this doesn't mean that MBB or other firms will completely disregard them. They will definitely take them into account while screening your CV and during the interview process. 

Now in terms of position and based on my experience at my current company, the position you get is often a combination of your work experience (time+type) and your performance on the case interviews. To put it simple the better you perform in the interviews, the higher the likelihood of you entering at a higher position.

Hope this answers your question,

What they recognise are your skills. 

That's pretty much all that matters if you are applying for the generalist track. 

I've worked with many people transitioning from finance, and their transferable skills to consulting are amazing, which makes them super attractive to consulting firms. 

The alternative is to pursue a specialist role (e.g., within the corporate finance practice) and leverage your existing professional experience to boost your profile even further. 

You might find this guide helpful on how to think through preparing your application and should you have further questions, don't hesitate to reach out:

• Expert Guide: What Do Management Consultants Do?

Best,
Cristian

Hey there,

You have an attractive profile for consulting employers.

However, below 3 years of professional experience, you are usually considered for entry-level roles, although often with a shorter promotion window.

My advice: If you want to work in consulting, go for it now as the opportunity cost increases with time (experience, salary, etc.). You already have the right profile.

Cheers,

Florian

I don't really understand the point of your question. What is the “action item here”? Wait 2 more years outside consulting so that you can enter consulting as a 1 or 2 year experience analyst? It's always worse than moving right away. So the additional information doesn't change your decision.

Regarding your question: if you show some maturity and knowledge in your interview they may hire you as an experienced analyst (1 year) or suggested some accelerated promotion. But if they don't - will you not move because you need to stay some extra 6 months at the starting level?

Here's one thing that should be clear: if your additional experience leads to a greater performance, that performance will be recognized and you will either get a higher bonus or a faster promotion - even if it is not recognized right away when you get a job offer.

If you are moving to a new role right now, then best to wait out for the X years of time for that role to really count as value-adding to your profile. Strategy roles will add positive value.

2.5 years of FP&A + 2+ years of Strategy would be a bare minimum to start getting counted as experienced hire IMO.

Alternatively you can consider applying to consulting in the next few months in a junior role and start from there.

Happy to discuss more details on your career objectives over messages.

Hi there,

First of all, congratulations on your career progress thus far!

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

• First of all, consulting firms typically discount work experience, either at a competing consulting firm or in the industry. Given your current overall tenure, I would expect that you would only be offered an entry-level position.
• Moreover, I would therefore advise you to transition into consulting sooner rather than later if you want to keep the discount low.

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

Best,

Hagen