by MichaelH » Wed Jul 19, 2006 2:13 am
Clare,
I have a few questions about entry level positions such as a business analyst position at McKinsey and the equivalent at other such firms like BCG, Bain, Booz Allen, LEK, PRTM, ZS Associates to smaller boutique firms such as Navigant, Decision Resources and Health Advances.
I recently graduated (June 2005) in Biochemistry and cell biology at a Top 3 UC school in southern California’s Biotech beach. My school did not have a business school until last year and since the school is seen mostly as a science/engineering school and not on many consulting firms (if any at all) recruiting list.
Throughout my college career I was always intrigued by the application of science to aid in human health which is why I choose to do research in labs that did work in gene therapy and siRNA which could someday be used as a form of therapy for a variety of diseases. However, I always knew that my career path was never going to go down the bench scientist route but a career that would use my scientific knowledge and business intuition. I first came across consulting a few months ago after seeing BCG as one of America’s top employers and randomly glanced at their website. I started getting interested in this field after realizing they do work in biotech/pharma/healthcare and doing some of the online interactive case interview questions which questions your ability to build a framework for solving a problem. This was the type of career I wanted since its varied, intellectually engaging, and one where I can work with other bright and intelligent people.
My questions are regarding getting into a firm like McKinsey without having the “academic pedigree” of an Ivy League education or one of a target recruitment school.
I have used my school alumni career services contact to talk to some alumni who have gone into consulting so I am aware of the types of projects and lifestyle. I understand that I will be on a plane Monday morning to a client site that can be in big city or the middle of nowhere, fly home on Thursday and then work at the local office on Friday or from home, and work on average 60+ hours a week. I am aware of the up and out culture, the fact that I can be a victim of my own success where a partner has little incentive to allow me to do a variety of projects if he knows I am good at a certain type, and that the work-life balance is often disregarded if a big time client paying top dollar has an immediate project, that they are going to get the best and the brightest even if it means flying you across the country against your preferences.
Clare, what are the best ways to get into consulting coming from a non consulting recruited school? I have heard of cold calling for informational interviews, but how would I go about doing that? Also, how do I network or come into contact with people that currently work in consulting to gain more information about career opportunities?
If I can secure an interview, what are some ways besides Wetfeet, Vault, and case interview books to help me prepare for such a career? So far I have been reading book’s such as Michael Porter’s “Competitive Strategy”, and Clayton M. Christensen‘s “Innovator’s Dilemma” to acquire more business knowledge, are there any other books you would recommend?
To what level of Excel or Power Point skills are needed for entry level positions, I know with my friends in Investment banking they can work spreadsheets without ever using the mouse since they consider it “too slow”. Is advance financial modeling training provided by McKinsey or other large firms and how does this compare to smaller boutique firms?
In terms of biotech/pharma consulting, what is the size of the smallest companies in this industry do you deal with at McKinsey? I know many start ups or mid size firms may not have the money such as an Amgen, Genentech, or Pfizer to hire McKinsey or BCG. What kind of work do you often do for them such as market position assessment, sales force effectiveness, manufacturing/operation issues, M&A targets, etc?
Michael