BCG, McKinsey, Bain

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BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 1:10 am

Has anyone interviewed with these consulting companies?

I know that they're just as hard, if not harder, than law firm interviews but I'm not sure where to look for JD-to-consulting information.
1) Do JDs still go through the case interview, or just conversational interview?
2) What's the recruiting time line like?
3) Is their pay scale similar to biglaw?

Any insight will be greatly appreciated.

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Re: BCG, McKinsey, Bain

Postby NDDT » Sun Sep 26, 2010 1:54 am

I was thinking about doing the McKinsey initial interview thing, but I decided not to. They are much harder than law firm interviews because you actually have to do something substantive, rather than just BS. There are two parts to the initial interview. The first part is a multiple choice test. The second part is a group case deal where you do two cases with a consultant facilitating. If you are deemed worthy, the next step is the solo interview in which you will do a case and a regular interview. Do not know what the recruiting timeline is. Compensation is lower, at least with respect to salary. Bonuses can be pretty good I hear.

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Re: BCG, McKinsey, Bain

Postby BruceWayne » Sun Sep 26, 2010 2:01 am

You don't really have to have interviewed with one of these companies to answer these question. Do you have access to the Vault career guides? The management consulting one will thoroughly answer all of them except 2. As far as 1. Definitely, your aptitude on the case interview is absolutely crucial to getting hired--and I mean CRUCIAL. 3) No it's not at all. The biglaw pay scale is very unique, honestly people in other fields view it as a bit ridiculous. The consulting pay scale is something like 120K-140K+ bonus for a number of years until you are promoted. Consulting pay doesn't really start escalating until after a few promotions. After that it does get pretty high but getting that promotion isn't even close to guaranteed and it takes years. . It's been a while since I looked at it though, check out gmatclub.com for better info than you will get here.

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 2:08 am

I have an interview scheduled with McKinsey, but haven't gone through the process yet, so take my advice with a grain of salt. From what I have heard from others who have gone through the process:

- The first round consists partly of a the multiple choice exam, which tests on econ principles. Basically, if you were an economics or business major, it shouldn't be that hard. However, people do prepare for the exams, with the GMAT book as well as sample case studies.
- The second round requires multiple case studies at the nearest office. If you pass this part, you move on to round three, which consists of more case studies, except this time at the office location where you want to work.

Not sure what the time line is, but I think there is an "on" and "off" recruiting season, which have differing time lines.

It's a very competitive process, so you should definitely prepare and study GMAT books and case studies - I think the success rate is 1%.

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JG Hall
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Re: BCG, McKinsey, Bain

Postby JG Hall » Sun Sep 26, 2010 4:53 am

Would someone please explain to me the appeal of applying for a job as a 2L you could've gotten out of undergrad?

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Re: BCG, McKinsey, Bain

Postby Renzo » Sun Sep 26, 2010 9:42 am

JG Hall wrote:Would someone please explain to me the appeal of applying for a job as a 2L you could've gotten out of undergrad?

Will someone please explain to me the appeal of applying for a job as a 2L that will interview you as a 3L/after graduation?

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Re: BCG, McKinsey, Bain

Postby kurla88 » Sun Sep 26, 2010 10:15 am

Renzo wrote:
JG Hall wrote:Would someone please explain to me the appeal of applying for a job as a 2L you could've gotten out of undergrad?

Will someone please explain to me the appeal of applying for a job as a 2L that will interview you as a 3L/after graduation?


Not all of us went to fancy UGs where consulting firms hired from.
You can enter at a higher level/pay scale with a JD.
Some of these firms do offer summer programs, and I think the people applying as 2Ls are looking for the summer -> permanent hire situation.

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Re: BCG, McKinsey, Bain

Postby NDDT » Sun Sep 26, 2010 10:52 am

JG Hall wrote:Would someone please explain to me the appeal of applying for a job as a 2L you could've gotten out of undergrad?


I'm guessing you would like somebody to explain the difference between starting as an analyst and starting as an associate as well? Would you also like an explanation of the difference between having work during a 2L summer and not? How about an explanation of deciding not to follow one career path and switching to another? Let me know if you would like answers to any of these...I'm here to help.

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 11:41 am

NDDT wrote:
JG Hall wrote:Would someone please explain to me the appeal of applying for a job as a 2L you could've gotten out of undergrad?


I'm guessing you would like somebody to explain the difference between starting as an analyst and starting as an associate as well? Would you also like an explanation of the difference between having work during a 2L summer and not? How about an explanation of deciding not to follow one career path and switching to another? Let me know if you would like answers to any of these...I'm here to help.


I'll answer without the snark. At the major consulting firms you can get hired out of UG (a prestigious one) but you are an analyst. Usually these are two year programs. You then go to business school and either come back to the firm as an associate or go somewhere else. Analysts get paid around 70-80+ bonus. Associates are more, though I'm not exactly sure (guess is 130 or so). So law school lets you come in as an associate--so instead of B-school, you have law school. True, you didn't need law school to get an associate position, but you do need an advanced degree, and law school works. I know of at least two MBB associates who are MDs.

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 11:57 am

Anonymous User wrote:I'll answer without the snark. At the major consulting firms you can get hired out of UG (a prestigious one) but you are an analyst. Usually these are two year programs. You then go to business school and either come back to the firm as an associate or go somewhere else. Analysts get paid around 70-80+ bonus. Associates are more, though I'm not exactly sure (guess is 130 or so). So law school lets you come in as an associate--so instead of B-school, you have law school. True, you didn't need law school to get an associate position, but you do need an advanced degree, and law school works. I know of at least two MBB associates who are MDs.

Hmm thanks. Just to clarify, you meant analysts, not associates, right?
So it seems like you're trading money for (a slightly more) interesting work and (definitely more interesting) people. Do you know what a JD-turned-consultant's exit strategies are? In house? Back to law firms?

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Re: BCG, McKinsey, Bain

Postby Patriot1208 » Sun Sep 26, 2010 12:06 pm

Anonymous User wrote:
Anonymous User wrote:I'll answer without the snark. At the major consulting firms you can get hired out of UG (a prestigious one) but you are an analyst. Usually these are two year programs. You then go to business school and either come back to the firm as an associate or go somewhere else. Analysts get paid around 70-80+ bonus. Associates are more, though I'm not exactly sure (guess is 130 or so). So law school lets you come in as an associate--so instead of B-school, you have law school. True, you didn't need law school to get an associate position, but you do need an advanced degree, and law school works. I know of at least two MBB associates who are MDs.

Hmm thanks. Just to clarify, you meant analysts, not associates, right?
So it seems like you're trading money for (a slightly more) interesting work and (definitely more interesting) people. Do you know what a JD-turned-consultant's exit strategies are? In house? Back to law firms?


It's likely going to be in business, but maybe not as an in-house counsel and more as an executive.

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 12:20 pm

Anonymous User wrote:
Anonymous User wrote:I'll answer without the snark. At the major consulting firms you can get hired out of UG (a prestigious one) but you are an analyst. Usually these are two year programs. You then go to business school and either come back to the firm as an associate or go somewhere else. Analysts get paid around 70-80+ bonus. Associates are more, though I'm not exactly sure (guess is 130 or so). So law school lets you come in as an associate--so instead of B-school, you have law school. True, you didn't need law school to get an associate position, but you do need an advanced degree, and law school works. I know of at least two MBB associates who are MDs.

Hmm thanks. Just to clarify, you meant analysts, not associates, right?
So it seems like you're trading money for (a slightly more) interesting work and (definitely more interesting) people. Do you know what a JD-turned-consultant's exit strategies are? In house? Back to law firms?


No, I mean associates. In consulting, people hired out of B-school are called associates. People hired out of UG are analysts. I don't think the difference in pay is huge because bonuses tend to be bigger in consulting than in law (but not nearly as big as banking). As a former analyst, I'd say the people are definitely more interesting (lawyers are boring), but I don't think the work is more interesting. If I did, I wouldn't have gone into law, but I can see how some people think it is.

As for exit strategies, definitely business. Law firms aren't going to want you. In-house could be possible... maybe, but you'd really have to show you kept up with law and explain why you went from law school to business, and now want to work in law again. I think it would be really hard. On the other hand, going to a business with a law degree has its benefits because you'll be much better at interfacing with in-house lawyers.

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 12:25 pm

When I was in consulting (as an analyst) about 2 years ago, associates were paid $125k + bonus, but the bonus wasn't piddling like law. In a bad year (i.e., 2009) it was pretty, low -- maybe $20k. But in goo years (i.e., 2007) it wasn't unheard of for top-performing 1st year associates to get $50k or $60k.

In my opinion most people would find the work much more interesting, but not all people (including myself). Colleagues were probably more interesting.

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 1:08 pm

I recently went through the first two rounds of interviews with McKinsey, so I can kind of answer your questions.

1) Yes you have to do case interviews. A LOT of them.

First round: multiple choice test (takes an hour), there's a sample on McKinsey's website. I thought the sample test was more difficult than the real test. It mainly tests business principles, math, etc. Brush up on your algebra and doing percentages and other simple math in your head. They told us the test is graded on a curve. So even if you suck, if the other APD recruits (that's what they call the non-MBA recruits) suck more, you're on to the next round. After the test, you do practice case interviews in a group. They tell you that part isn't evaluated in their decision to move you on to the next round, and I'm inclined to believe them because of how much I sucked in one of my group case interviews. Overall, I think around 10-12 people were with me also interviewing for that first round, and 4 of us got selected for the next round.

Second round: Three different interviewers will give hour-long case interviews, with two of those interviewers also asking you one "experience" question. Mine was something along the lines of "tell us about a time where you worked in a team where there was conflict." And yes, BOTH interviewers asked that same question.


2) Recruiting timeline was fairly quick for me. I had submitted my app, and maybe a week later got an email about the first round of interviews. That round happened maybe a week and a half after that. Was told via email the next day after the first round interview that I would be moving on to the second round. Second round happened two weeks later. Received phone call rejection a couple days after that interview.


3) Payscale seemed a little less than Biglaw, maybe around 100-120K? But then you get bonuses too.


Hope that helped. For what it's worth, I HATED every minute of this process. It's a bitch to prepare for, and consulting seems terrible. Obviously, the paycheck would be nice though :)

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Sep 26, 2010 1:12 pm

Anonymous User wrote:I recently went through the first two rounds of interviews with McKinsey, so I can kind of answer your questions.

1) Yes you have to do case interviews. A LOT of them.

First round: multiple choice test (takes an hour), there's a sample on McKinsey's website. I thought the sample test was more difficult than the real test. It mainly tests business principles, math, etc. Brush up on your algebra and doing percentages and other simple math in your head. They told us the test is graded on a curve. So even if you suck, if the other APD recruits (that's what they call the non-MBA recruits) suck more, you're on to the next round. After the test, you do practice case interviews in a group. They tell you that part isn't evaluated in their decision to move you on to the next round, and I'm inclined to believe them because of how much I sucked in one of my group case interviews. Overall, I think around 10-12 people were with me also interviewing for that first round, and 4 of us got selected for the next round.

Second round: Three different interviewers will give hour-long case interviews, with two of those interviewers also asking you one "experience" question. Mine was something along the lines of "tell us about a time where you worked in a team where there was conflict." And yes, BOTH interviewers asked that same question.


2) Recruiting timeline was fairly quick for me. I had submitted my app, and maybe a week later got an email about the first round of interviews. That round happened maybe a week and a half after that. Was told via email the next day after the first round interview that I would be moving on to the second round. Second round happened two weeks later. Received phone call rejection a couple days after that interview.


3) Payscale seemed a little less than Biglaw, maybe around 100-120K? But then you get bonuses too.


Hope that helped. For what it's worth, I HATED every minute of this process. It's a bitch to prepare for, and consulting seems terrible. Obviously, the paycheck would be nice though :)
Thanks for the detailed response - that really helped. I'm sorry that it didn't work out. Are you a 3L?

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Mon Sep 27, 2010 4:35 am

I used to work for McKinsey before law school (I did a summer before accepting a full-time offer). I entered as an associate because I have an advanced degree. The pay cited above is roughly accurate.

It seems like the process is the same as before. The multiple choice test really isn't bad, as long as you are reasonably OK at math on paper. I think the same goes for the cases - being able to run through scenarios in your head, do public math, and keep your cool. I didn't have a business background, but am good at math and understanding general business concepts (they require some common sense).

As for the work, I left voluntarily after a year and a half - too much business, not enough science, even though I was working mostly with tech clients. So I know a bit about exit-options. I went to a biotech company in a R&D management position, which I liked for the 8 months I was there, but ITE happened and my department was eliminated. I honestly like IP litigation better than consulting because it is more technical, but I can see the appeal of consulting for many people.

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Re: BCG, McKinsey, Bain

Postby Patriot1208 » Mon Sep 27, 2010 9:36 am

Anonymous User wrote:I used to work for McKinsey before law school (I did a summer before accepting a full-time offer). I entered as an associate because I have an advanced degree. The pay cited above is roughly accurate.

It seems like the process is the same as before. The multiple choice test really isn't bad, as long as you are reasonably OK at math on paper. I think the same goes for the cases - being able to run through scenarios in your head, do public math, and keep your cool. I didn't have a business background, but am good at math and understanding general business concepts (they require some common sense).

As for the work, I left voluntarily after a year and a half - too much business, not enough science, even though I was working mostly with tech clients. So I know a bit about exit-options. I went to a biotech company in a R&D management position, which I liked for the 8 months I was there, but ITE happened and my department was eliminated. I honestly like IP litigation better than consulting because it is more technical, but I can see the appeal of consulting for many people.


BTW, what is reasonably ok at math? I do ok, but my math classes are easily the worst classes I take.

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Re: BCG, McKinsey, Bain

Postby nealric » Mon Sep 27, 2010 10:08 am


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Re: BCG, McKinsey, Bain

Postby Anonymous User » Mon Sep 27, 2010 12:00 pm

Patriot1208 wrote:
Anonymous User wrote:I used to work for McKinsey before law school (I did a summer before accepting a full-time offer). I entered as an associate because I have an advanced degree. The pay cited above is roughly accurate.

It seems like the process is the same as before. The multiple choice test really isn't bad, as long as you are reasonably OK at math on paper. I think the same goes for the cases - being able to run through scenarios in your head, do public math, and keep your cool. I didn't have a business background, but am good at math and understanding general business concepts (they require some common sense).

As for the work, I left voluntarily after a year and a half - too much business, not enough science, even though I was working mostly with tech clients. So I know a bit about exit-options. I went to a biotech company in a R&D management position, which I liked for the 8 months I was there, but ITE happened and my department was eliminated. I honestly like IP litigation better than consulting because it is more technical, but I can see the appeal of consulting for many people.


BTW, what is reasonably ok at math? I do ok, but my math classes are easily the worst classes I take.


Maybe someone else can speak to this. I was a math/hard science double major, and I find math to be the easiest subject by far, and can easily do mental math very quickly. At the same time, I suck at law school, so life is fair. :oops: Maybe others could speak to the ease/difficulty level of the math involved in the multiple choice and case interviews.

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Sun Oct 10, 2010 1:57 am

Does anyone have any info on what law schools they recruit from. Will they even look at an application from a T40?

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Re: BCG, McKinsey, Bain

Postby Veyron » Sun Oct 10, 2010 2:02 am

Anonymous User wrote:Does anyone have any info on what law schools they recruit from. Will they even look at an application from a T40?


1. I know that 1-2 of the above recruit at Penn Law.
2. Unlikely

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Re: BCG, McKinsey, Bain

Postby Anonymous User » Mon Oct 11, 2010 1:14 am

Do Big 3 consulting firms interview 3Ls, or are they similar to firms in having a summer program followed by full-time employment offer?

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Re: BCG, McKinsey, Bain

Postby aheisman » Mon Oct 11, 2010 1:17 am

Anonymous User wrote:Do Big 3 consulting firms interview 3Ls, or are they similar to firms in having a summer program followed by full-time employment offer?


They do interview 3Ls.

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Re: BCG, McKinsey, Bain

Postby aheisman » Mon Oct 11, 2010 1:19 am

Anonymous User wrote:Does anyone have any info on what law schools they recruit from. Will they even look at an application from a T40?

I know that they conduct on-campus recruiting at certain t-14s and advertise through career services to accept applications from others. Their decision to give you a first interview depends partly on your SAT/LSAT scores. If you did well on the LSAT and then chose to attend a t40 for financial reasons, maybe they might give a first interview, but who knows. When you apply, they ask for your undergrad GPA, undergrad school, and SAT/LSAT scores, among other requests.




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