Consulting - Management, Strategic, IT et all

[guitar_killer]

nice post there Convo....
wz wonderin..if som1 cud revive this thread...and there u go...

gud job....

[better4worse]

Originally Posted by convolutedsignal

Ok I thought I'd kick back some life into this thread by posting a little bit about Strat consulting..

What is strat consulting?
Basically advicing companies on their strategy. Usually very specific to a certain area, HR, outsourcing, M&A and so on. The higher you go the more the companies need to pay. So its usually a case of swoop in , understand the mess, give sum data backed gyaan on how to clean the mess, actually clean the mess if the company asks you to and finally charge 200 dollars an hour while doing it

Who works there?
Contrary to popular perception, you don't necessarily need an MBA to work for a strat consulting firm. Every consulting firm has a divison of analysts working to back the consultants with specific data and also to provide a research backing in the form of syndicated research on specific markets/industries . A good proportion of analysts are engineers in addition to the regular MBAs. Also graduates from well known colleges also stand a good chance in the support category.

What do they do?
I am sure none of the MBA's are reading this so let me address the better half of the population- the engineers. You will have to analyse data. Simple no?? Not really. Very few engineering colleges in India have a hard problem solving approach to teaching and so not everyone will find the job of making some sense out of a bunch of data easy or appealing. Also it is my personal experience that other than students from colleges which test your problem solving ability others find it tough to get through the case studies. The thrill of the job lies in the challenge that you face every day trying to give some structure to some arcane piece of unstructured data. Of course there is a great deal of searching involved. In google we trust. But at the end of the day there is a certain degree of mental satisfaction involved like the one you get after solving medium level SUDOKU

What's the life like?
Pretty good actually. Most consulting firms are US based and do believe in concepts like a 10 hour workday and free weekends. Moreover the lifestyle is good because of added perks (healthclub, golf, theatre) The pay is good. The good thing about the pay is that they give you you what they claim and the bonuses are extremely performance oriented..and u get what u deserve.

So the BIG question; How do you get in?
India is on the verge of becoming a research hub (in the consulting context). The cheap cost of an Indian analyst is a major factor apart from our brilliant engineers. Most consulting firms take pride in the number of engineers they hire and India has abundant talent. Unfortuantely they are also very elitist because consulting firms byt default operate on a league mentality. So bein an IITian(the top 3) or a BITSian helps. I know a good number of Stephanians also in the hunt. You need a capability to analyse. Try the case studies at www.mckinsey.com or www.bcg.com . www.vault.com is an international portal for MBAs. and they have some really good articles and goodies for consulting jobs. try out the case studies. Get the ability to give shape to any form of unstructured data. Example: How many marriages happen every year in Delhi? Think about it.

I have put in a few points which I felt were of basic nature. Please note that the above points need not be relevant to IT consulting or operations consulting. And anyone who wants further info please use the thread to post questions. Will be helpful to all.I am also on the look out for a few research analysts (1-2) you have to fit in all the above qualities and so do pm me only after confirming this.

Hi there convo....

All's well with reading case studies at BCG /Mckinsey/ vault........ but what after that.....??? Cryptic enuff or not....is not the question.......Convo...u can maybe guide ppl....tell us is it justified for ordinary mortals (Non IIT's and non BITS) to harbour ideas regarding a career in strat consulting...??

If u think " yes"....... then be kind enuff to suggest ways to get around the system being an 'ordinary' mortal in the so called elitist world.

Anyone else with suggestions/ideas/opinion.....is most welcome to opine on this one.

Better4worse

(PS : Lets try not being cryptic here...! )

[vaguefunda]

boss.... i might have a thing or two to say abt the three IIT and BITS thing but lets not get things ugly here... this is nt the purpose of the thread...

better4worse... to become an analyst u don't HAVE to be an IITian.... but then if u have a brand name behind u, companies feel more comfy hiring u..... tht is the ONLY thing..... IITians IN GENERAL wud have beter analytical abilities, but does nt mean all IITians are good or all other non-IITians are bad... so coming back to ur ques... bcoz the number of consultancies is much less than the number of say IT companies, there are fewer openings floating around... so generally companies are hiring ppl from these instuitutes.... but say u manage to get an interview (like Convo managed with Mckinsey) and are able to impress the interviewer, there is no stopping u.....

but rest assured... there is NO way a non-MBA is gonna do as well as an MBA when it comes to rising within the organisation... there might not be much diff b/w the two, but clients like their consultants to know everything under the sun, and obviously the comfy factor brouht abt by the degree behind the name comes into play here too..... so if u want to get into consulting better get an MBA... there is NO other alternative...

HTH....ATB

[convolutedsignal]

Ok clarification time. The opinions on elitism of consulting firms are not for us to decide. These firms are elitist as a matter of differentiating. A consulting firm is built purely on the reputation of its people as there is no technology or product to represent the firm. Even among MBAs not many get into strat consulting positions. It would be very difficult for a non IIMA,C guy to get into say a Mckinsey or a BCG. All consulting firms have a league mentality and not one firm is an exception to this rule. even among US bschools there is fierce competition for that elusive consulting position. It is true that there is elitism even in the Indian context but it is not a be all and end all. case studies are complex and the case interviewer would be noticing every aspect of your approach to that problem. Unless you have been trained to problem solve it is not easy. This was my primary point. Smartness and tier 1 colleges are not just one single set. It is a factor beyond what college you go to or where u r from. If ur resume's only 'defect' is that it doesnt carry a good institutes name but u have amazing acads and extra currics alongwith problem solving skills I don't see that stopping you. How many ppl from the top colleges do u think get into these firms 1% would be a very optimistic number. So if you do not have one parameter, work on the others. pm me and we'll take this forward. please do not digress this topic into uneccessaryn directions. everyone here knows that intelligence and elitism are not synonymous but the corporate world is not that smart....

[HitchHiker]

Originally Posted by convolutedsignal

Ok clarification time. The opinions on elitism of consulting firms are not for us to decide. These firms are elitist as a matter of differentiating. A consulting firm is built purely on the reputation of its people as there is no technology or product to represent the firm. Even among MBAs not many get into strat consulting positions. It would be very difficult for a non IIMA,C guy to get into say a Mckinsey or a BCG. All consulting firms have a league mentality and not one firm is an exception to this rule. even among US bschools there is fierce competition for that elusive consulting position. It is true that there is elitism even in the Indian context but it is not a be all and end all. case studies are complex and the case interviewer would be noticing every aspect of your approach to that problem. Unless you have been trained to problem solve it is not easy. This was my primary point. Smartness and tier 1 colleges are not just one single set. It is a factor beyond what college you go to or where u r from. If ur resume's only 'defect' is that it doesnt carry a good institutes name but u have amazing acads and extra currics alongwith problem solving skills I don't see that stopping you. How many ppl from the top colleges do u think get into these firms 1% would be a very optimistic number. So if you do not have one parameter, work on the others. pm me and we'll take this forward. please do not digress this topic into uneccessaryn directions. everyone here knows that intelligence and elitism are not synonymous but the corporate world is not that smart....

Whats the outlook for a reasonably smart guy with...

1. great acads but almost no extra curriculars (unless House Captain in standard VIII counts ) at the SCHOOL level

2. Good ECAs (Student's Union, Students' Council, Quiz Club etc.) but almost no acads at the COLLEGE level (a tier one college, by your own example )

3. and 1.5 years work ex in financial research firm (which is also a tier one)

??

In anticipation...
Yours Truly .

[convolutedsignal]

Oye Vaibhav..Ive been askin u for like 6 months now, if u r interested

[HitchHiker]

Originally Posted by convolutedsignal

Oye Vaibhav..Ive been askin u for like 6 months now, if u r interested

hehehe... dude... any doubt i might have had stands resolved after this exceptional thread of yours...

[better4worse]

Oh boy.....we are only getting started here....
1. Non IITian/BITS...almost makes u a non starter. (convo is very kind here....says stuff euphemistically)

Being a non IItian ..is beginining to feel like a congenital/birth defect !

2. Non MBA....makes u sumbody with feet cast in steel ( a non mover)

Let it out guys.....lets us know all the ODDS against.. now that we are at it !

Jokes apart....

just wondering i have a couple of process improvements/changes....to my name! Do they hold any value in the consulting world.??

Better4worse

[DesiGuru]

Originally Posted by convolutedsignal

Oye Vaibhav..Ive been askin u out for like 6 months now, if u r interested its possible even now...

Kya convo!!! Just cause expandinghorizon couldnt match your CAT score you dumped him and are now after some Hitchhiker

K

[HitchHiker]

Originally Posted by DesiGuru

Kya convo!!! Just cause expandinghorizon couldnt match your CAT score you dumped him and are now after some Hitchhiker

K

some HitchHiker?

Bite your tongue desi!!