It’s almost summer, and you have probably accepted an offer from your favorite B-School that you pursued for months.
Based on conversations with your B-school seniors, you know how intense the first few months of the program is, with coursework, networking, and internship hunting all happening at the same time. Perhaps the thought of such forceful months is scaring the hell out of you.
That is when you decide to increase your stock of happiness by venturing out on a soul-searching journey before the MBA program begins. The happiness points you accumulate will be needed to offset the stress points you accrue later. If you are targeting the consulting industry, increase that stress quotient by a few more points due to intense competition in the sector.
I was in the same shoes a year back. Even I went on this soul-search journey to the mountains. However, be smart and think ahead. I regret not allocating a bit of time to the following activities, that could have eased a ton of pressure from my consulting internship hunting efforts later on.
1. Pre-MBA Reads
Preparation for case interviews is an essential component of getting into consulting. I can’t stress this enough. You should read books that help you to understand the case interview process and which suggest preparation strategy.
I personally read books such as ‘Case Interview Secrets’ by Victor Cheng and ‘Case-In-Point’ by Marc P Cosentino, which I found to be useful references. Getting these out of the way early on the MBA journey is a good idea. Guess what! Getting these books out of the way during the pre-MBA period is the best decision I made.
By this time, I assume you have a rough idea as to whether you are aiming for general consulting, specific function-related consulting (such as finance, marketing, or supply chain consulting) or industry specific consulting (such as healthcare, technology, or human capital).
Apart from the above-mentioned books, I highlight below some suggested reading areas that will not only help you solve consulting cases but also give you the background you need to understand the broader business context and initiate meaningful conversations with your MBA classmates and consultants.
2. Pro-Bono consulting projects for start-ups
Volunteering to share your expertise with a startup is not only a perfect opportunity to gain work experience, but also a great way to have an impact, build your network, and have something interesting to talk about with recruiters.
We are living in the era of start-ups, and these new entrepreneurs invariably need help on various aspects of launching their business. Offer your services for free, and it can be win-win situation for both you and the start-up.
One of my friends was establishing his business, and I offered help with marketing and product strategy. This opportunity was very similar to a normal consulting project, where you help clients develop and implement strategy or solve specific business issues.
If you have family or friends involved in a business or start-up, this is a good place to start. If not, attend the regular start-up events organized by local associations or B-Schools in your city. In India, Headstart is a great place to pitch for these kinds of pro-bono consulting projects. I am sure that other countries have similar associations. Many cities also have a start-up Facebook page where you can offer your expertise, such as London Startups or Sydney Startups.
3. Pre-MBA Internship
The Pre-MBA Internship is an option for a ‘lucky few who are unlucky’. Lucky because it’s a perfect platform to test your fit for consulting even before the MBA. Unlucky because pursuing this opportunity will give you a very limited break between pre-MBA employment and the start of your MBA, which means back-to-back grilling.
If you decide you like consulting, the pre-MBA internship can give you an edge over the competition. I have a friend who took up a pre-MBA internship with BCG in India, liked it, and received an MBA summer internship opportunity with BCG in the US. Now he is all set for full-time employment with the firm.
If you end up disliking consulting after the pre-MBA internship, then you can use your MBA internship to try out other career choices.
For most people, the possibility of getting a pre-MBA internship is minimal unless you have a strong network within the firm.
All of these options offer many benefits.
If I had to summarize these choices based on ‘minimum time commitment’ and ‘possibility of achieving’ them, it would look something like this:
I personally ticked the green and yellow boxes from the above chart. Remember that ‘knowledge’ is the product that consultants sell. So, invest time wisely on things that increase your practical knowledge of the industry, function, or kind of projects on which you wish to consult.
Vishal Agarwal is currently undergoing his MBA from Kelley School of Business, Indiana University and is a management consulting enthusiast. Before Kelley, he was working with EY as a Manager and he carries 7 years of experience with EY’s International Taxation and Transfer Pricing Consulting practice.
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