Consulting?

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SHANbangs
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Consulting?

Postby SHANbangs » Sun Jun 13, 2010 12:03 am

I often hear of the odd JD who goes into consulting or gets scooped up by one of the big consulting companies. Anybody know from personal experience what I'm talking about? Anybody know the type of student (T-14) that has this kind of option (or is it mainly limited to lawyers who have practiced for a few years?)

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philip.platt
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Re: Consulting?

Postby philip.platt » Sun Jun 13, 2010 12:05 am

You will get paid less than the law firms unless you can get into McKinsey or BCG. I would think that most consulting firms would be open to you working there. It is hard to get jobs at consulting firms though. They only usually hire if they think you will be able to bill clients or bring in business.

I worked for a V15 Management Consulting group for almost 4 years.

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dood
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Re: Consulting?

Postby dood » Sun Jun 13, 2010 12:34 am

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Last edited by dood on Sun Jul 04, 2010 3:20 am, edited 1 time in total.

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philip.platt
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Re: Consulting?

Postby philip.platt » Sun Jun 13, 2010 12:42 am

dood wrote:
philip.platt wrote:
I worked for a V15 Management Consulting group for almost 4 years.
Blatant Accenture/IBM/KPMG trolling :wink:


keyword: worked.

I started my own company after that.

Cathleen Black has until July 15 to accept me as a director, but I think she will decline. You're pretty close to what you thought though.

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ConMan345
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Re: Consulting?

Postby ConMan345 » Sun Jun 13, 2010 12:43 am

I know an SLS grad who went straight from law school into McKinsey, though she had a couple years of non-profit leadership WE from before ls.

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dood
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Re: Consulting?

Postby dood » Sun Jun 13, 2010 12:44 am

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Last edited by dood on Sun Jul 04, 2010 3:20 am, edited 1 time in total.

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philip.platt
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Re: Consulting?

Postby philip.platt » Sun Jun 13, 2010 12:45 am

dood wrote:BTW, bankers v. consultants for LOL moments:
http://www.youtube.com/watch?v=ROlDmux7Tk4

"you still can't buy bottles with Starwood points" - only too true.


haha I love battles - - I had a valuation/analyst role in the consulting firm - so was a bit of both worlds

sperry
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Re: Consulting?

Postby sperry » Sun Jun 13, 2010 3:04 pm

McKinsey has a program dedicated to recruiting law students, so obviously they hire at least some. I don't know if they recruit on campus though.

spondee
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Re: Consulting?

Postby spondee » Sun Jun 13, 2010 3:06 pm

sperry wrote:McKinsey has a program dedicated to recruiting law students, so obviously they hire at least some. I don't know if they recruit on campus though.


They come to NYU's OCI, so I'd imagine they do at some schools as well.

Anonymous User
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Re: Consulting?

Postby Anonymous User » Sun Jun 13, 2010 5:53 pm

Rising 3L at CCN. I applied to consulting jobs after striking out at OCI last year.

Invited to take the McKinsey test, then dinged.
Dinged outright by Bain and Oliver Wyman.

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clintonius
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Re: Consulting?

Postby clintonius » Sun Jun 13, 2010 6:19 pm

Shit. There was a poster on here a few months ago who (I believe) struck out at CLS's OCI then wound up with a top consulting offer, and I can't even remember enough details to search for the post properly. I suppose it may have been anonymous. Anybody else remember what I'm talking about? That person would probably have things to say.

Renzo
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Re: Consulting?

Postby Renzo » Sun Jun 13, 2010 6:23 pm

I'm acquainted with a just-graduated 3L and a rising 3L who are going to McKinsey (1NYU, 1CLS).

There's also a dood who was posting a "how to get a job after striking out at OCI' thread not that long ago who went to a consultancy, and said he'd be making bigger-than-biglaw money so I assume he's a McKinsey as well.

Seems to be that they would rather have you right out of school (100% of the lawyers at their recruiting session had never practiced law). It's a death blow to your career as a lawyer, as no firm will want you, but it's a golden ticket into the business world.

Edit: yep, what he ^^ said.

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clintonius
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Re: Consulting?

Postby clintonius » Sun Jun 13, 2010 8:20 pm

Renzo wrote:I'm acquainted with a just-graduated 3L and a rising 3L who are going to McKinsey (1NYU, 1CLS).

There's also a dood who was posting a "how to get a job after striking out at OCI' thread not that long ago who went to a consultancy, and said he'd be making bigger-than-biglaw money so I assume he's a McKinsey as well.

Seems to be that they would rather have you right out of school (100% of the lawyers at their recruiting session had never practiced law). It's a death blow to your career as a lawyer, as no firm will want you, but it's a golden ticket into the business world.

Edit: yep, what he ^^ said.
Ha, nice. Yeah, I was thinking of the person in the OCI strikeout thread. Thanks!

Edit for what the hell is starting salary like at McKinsey anyways? I had no idea it was >BigLaw

loveistheway
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Re: Consulting?

Postby loveistheway » Sun Jun 13, 2010 11:05 pm


Renzo
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Re: Consulting?

Postby Renzo » Sun Jun 13, 2010 11:16 pm

clintonius wrote:Edit for what the hell is starting salary like at McKinsey anyways? I had no idea it was >BigLaw

It's all in the bonuses.

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thesealocust
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Re: Consulting?

Postby thesealocust » Sun Jun 13, 2010 11:17 pm

Edit: n/m
Last edited by thesealocust on Sat Jun 26, 2010 4:36 pm, edited 1 time in total.

Renzo
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Re: Consulting?

Postby Renzo » Sun Jun 13, 2010 11:20 pm

thesealocust wrote:Plus, from what I hear, you get hired into a higher starting level out of LS than you would have out of UG, so it's not directly comparable to just going directly into consulting.

Yeah. Sorry, I thought that was assumed. It's on par with MBAs.

motiontodismiss
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Re: Consulting?

Postby motiontodismiss » Mon Jun 14, 2010 3:14 am

clintonius wrote:Ha, nice. Yeah, I was thinking of the person in the OCI strikeout thread. Thanks!

Edit for what the hell is starting salary like at McKinsey anyways? I had no idea it was >BigLaw


For associates somewhere in the ballpark of $120k base+$60k bonus+all the frequent flyer and hotel points (and elite status that comes with them) you could possibly dream of wanting, and more. I think there was some sort of signing bonus involved but I don't know how much.

And besides, you'll be out of town 4 days a week most of the time which means you won't need as nice an apartment and you won't be spending that much of your own money.

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crazycanuck
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Re: Consulting?

Postby crazycanuck » Mon Jun 14, 2010 1:27 pm

motiontodismiss wrote:
clintonius wrote:Ha, nice. Yeah, I was thinking of the person in the OCI strikeout thread. Thanks!

Edit for what the hell is starting salary like at McKinsey anyways? I had no idea it was >BigLaw


For associates somewhere in the ballpark of $120k base+$60k bonus+all the frequent flyer and hotel points (and elite status that comes with them) you could possibly dream of wanting, and more. I think there was some sort of signing bonus involved but I don't know how much.

And besides, you'll be out of town 4 days 7 days a week most of the time which means you won't need as nicean apartment and you won't be spending that much of your own money.


Only summer students are out of town 4 days a week, don't want to burn them out too early.

Getting a JD is kind of a silly way to try to get into consulting. The two best ways that I have seen are through an MBA at an elite school or getting into a big 4 firm, getting the CA/CPA license and then transferring into the consulting practice.

Renzo
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Re: Consulting?

Postby Renzo » Mon Jun 14, 2010 9:36 pm

crazycanuck wrote:Getting a JD is kind of a silly way to try to get into consulting. The two best ways that I have seen are through an MBA at an elite school or getting into a big 4 firm, getting the CA/CPA license and then transferring into the consulting practice.

Unless you're already in law school, then it looks less silly. Most consultants are MBAs, but JDs are the second most prevalent credential.

Anonymous User
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Re: Consulting?

Postby Anonymous User » Tue Jun 15, 2010 1:45 am

Anonymous User wrote:Rising 3L at CCN. I applied to consulting jobs after striking out at OCI last year.

Invited to take the McKinsey test, then dinged.
Dinged outright by Bain and Oliver Wyman.


So is there a preparation for these things? I took one for a similar firm in UG and bombed. But I didn't expect it or know how to prep.

Renzo
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Re: Consulting?

Postby Renzo » Tue Jun 15, 2010 6:46 pm

Anonymous User wrote:
Anonymous User wrote:Rising 3L at CCN. I applied to consulting jobs after striking out at OCI last year.

Invited to take the McKinsey test, then dinged.
Dinged outright by Bain and Oliver Wyman.


So is there a preparation for these things? I took one for a similar firm in UG and bombed. But I didn't expect it or know how to prep.

There's a lot of prep. Shelves of books have been written on case study interviews.

miamiman
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Re: Consulting?

Postby miamiman » Tue Jun 15, 2010 6:52 pm

Renzo wrote:
Anonymous User wrote:
Anonymous User wrote:Rising 3L at CCN. I applied to consulting jobs after striking out at OCI last year.

Invited to take the McKinsey test, then dinged.
Dinged outright by Bain and Oliver Wyman.


So is there a preparation for these things? I took one for a similar firm in UG and bombed. But I didn't expect it or know how to prep.

There's a lot of prep. Shelves of books have been written on case study interviews.


I did them as a senior in college. They're not hard. Google asked me to estimate the number of tennis balls I could fit in the room. And to walk through my reasoning orally.

EX:

"I'm going to assume a tennis ball is 2 sq. inch. I'm going to assume this room is 12 feet by 14 feet. A foot is 12 inches. 12 * 12 = 144. 14 * 12 = 168. 144 * 168 is roughly 150 ^ 2 = 22500. 22500 / 2 = 11250."

Renzo
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Re: Consulting?

Postby Renzo » Tue Jun 15, 2010 6:55 pm

miamiman wrote:
I did them as a senior in college. They're not hard. Google asked me to estimate the number of tennis balls I could fit in the room. And to walk through my reasoning orally.

They're not bad if you practice, but if you don't know what to expect, "how many piano tuners are in Chicago?" can really throw you.

miamiman
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Re: Consulting?

Postby miamiman » Tue Jun 15, 2010 6:58 pm

Renzo wrote:
miamiman wrote:
I did them as a senior in college. They're not hard. Google asked me to estimate the number of tennis balls I could fit in the room. And to walk through my reasoning orally.

They're not bad if you practice, but if you don't know what to expect, "how many piano tuners are in Chicago?" can really throw you.


Yes, you practice. The business model ones are always the hardest. They show you a graph of revenue/profit one year and then another graph the next. You have to infer what is wrong with the business by asking general questions and offering recommendations.

"Revenues are up but profit is down. Looks like costs must have cannibalized the profit margin. Have there been any capital infrastructure projects at the company recently?..."

"in fact there were. Bubba Gump Shrimp set out recently on an ambitious Oil Rig Expansion project aimed at growing the company's fledgling oil exploration business. The thought was "if we're already out there shrimping, might as well dig for black gold."" The project cost $125 million spread evenly across 5 years...."

BLAH BLAH BLAH BLAH




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