Hi everyone, I needed some advice about what my chances are for getting into MBBB.I'm based in London. Completed a Masters in Engineering (with Management) at a Top 5 University in the UK.I've managed to get on to the grad scheme for one of the largest banking groups in the UK (and potentially in the world)The scheme is good but I have my heart set on getting into consulting. I tried to get into consulting during the final year of my degree...I had a few final rounds with Booz, Roland Berger and PwC but wasnt successful. I keep hearing that consultancies dont like to hire people who have already graduated (i.e. 1-2 years already out of university)Additionally if I were to apply, would I be applying to the grad scheme or something else?Any suggestions/comments will be greatly appreciated! ThanksCaptainKirk

My two centsMaybe not what you want to hear but in your shoes I would forget consulting for now, do the grad scheme to the best of your ability, pick up some interesting projects and make yourself valuable. When you get towards the end of your scheme, review your options which, very broadly, might be:1) Stay with the bank or move to a related role in another company2) Apply direct to consulting firms3) Go to business school which, if a top school, will enable you to make the transition into consulting at a level where you are only dealing with some of the crap rather than all of itChances are '2' won't work out so you will go with '1' or '3', and if '3', chances are you will realise at business school that there are better options out there.Given the current economic environment, the fact that you have secured a place on what is presumably a fairly prestigious grad scheme is not to sniffed at - sometimes the grass really is not greener so I would be careful not to burn any bridgesHope that helps

[i]one of the largest banking groups in the UK (and potentially in the world)[/i] Potentially one of the largest in the world!! Wow...! But also potentially not one of the largest in the world?!

few questions...what role are you in? what part of the bank ie what business are you in?

My grad scheme is a rotational one. Currently I'm in a division which looks to turnaround businesses that the bank has leant money to (in the form of loans, etc). Specifically though the companies that I work with are owned by Private Equity houses. So my current role requires me to carry out business and financial analysis as well as dealing with PE side of the deals.The next rotation will involve managing client relationships - talking to FDs, CFOs etc.I was thinking that will these are not consulting skills, perhaps I could leverage the experience and try to get an interview or two.

Hi Happy thanks for your post. Following on from your comment about forgetting consulting for now, I was wondering, what exactly about my current status is standing in my way of getting into consulting?Thanks

[quote]My grad scheme is a rotational one. Currently I'm in a division which looks to turnaround businesses that the bank has leant money to (in the form of loans, etc). Specifically though the companies that I work with are owned by Private Equity houses. So my current role requires me to carry out business and financial analysis as well as dealing with PE side of the deals.The next rotation will involve managing client relationships - talking to FDs, CFOs etc.I was thinking that will these are not consulting skills, perhaps I could leverage the experience and try to get an interview or two. [/quote]So what do you imagine consultancy to be then? On this information you should be able to secure an interview with one of the advisory firms like Big 4 or the top 10 accounting firms doing advisory work. I suspect the problem is in looking to move so soon - it makes you look indecisive and possibly even like trying to jump ship given all the bad news hitting the FS sector.

I suppose I should have clarified a bit more. I want to get into strategy consulting specifically. Advisory is good but for career progression purposes, strategy is where I feel I want to be.

Strategy? Really? The Emperor has no clothes you know. Strategy as a pure service line is dying on the vine (not dead though) - clients won't pay for it. MBB are all moving downstream. If you think MBB are the brightest of the bright, and they are moving downstream...shouldn't you?

Hi,I didn't say it was anything to do with your profile - sounds like you probably could get in - I just don't think it makes much sense to move after a short time in a company unless something is really fundamentally wrong.In a strategy consulting firm at your level you will be doing financial analysis, primary and secondary research, putting together slides etc. You won't be meeting too many CEOs. Given that you are already doing largely the same sort of work, what's the advantage of moving now versus staying where you are and completing the rotation (which you can put on your CV) and then seeing about consulting in a few years time? If it still exists...

If you don't think analysis and managing client relationships with directors and c levels will give you consulting skills, you may be a bit misguided as to what consulting is...Not having a go or anything but you say you aspire to be a consultant but it sounds like you haven't really grasped what consultants do.BTW - Nothing wrong with working in advisory. I've worked on projects where I have set up global clearing businesses and global liquidity and capital reporting platforms for investment banks; i'm not worried about career progression one bit.

I take your point Big Mac. What I was trying to say is that I know my current role will lend nicely to consulting through some of the transferable skills but the real question was about what my chances are when I apply.As for advisory, now that is definitely something I havent looked into properlyThanks