Full-Time MBA

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Live Chat with Full-Time MBA Program Admissions

Join us for a live chat with current Booth students who are pursuing careers in strategy and consulting. This is your opportunity to ask students, as well as Career Services staff, about the resources that are available to help students make the most informed choices regarding strategy and consulting careers. Learn about curriculum choices, concentrations, student groups, recruiting, and more!

Tuesday, February 14 from 10:00 a.m. - Noon CT

From -> To Message
Moderator -> Everyone Welcome to the chat. The chat will begin in 10 minutes. Please feel free to submit your questions now.
Moderator -> Everyone Welcome to the chat. The chat will begin in a few minutes. Please feel free to submit your questions now.
Deep -> Everyone Hi everyone, my name is Deep Bodapati and I am a second-year at Chicago-Booth. I am a co-chair of the Management Consulting Group as well as an Admissions Fellow. Last summer, I interned at The Boston Consulting Group in their Chicago office and will be returning there full-time. Prior to Booth, I worked in the mobile phone industry for Analog Devices (Boston, later acquired by MediaTek Wireless) where I managed customer relationships with handset OEMs like LG Electronics, helping them penetrate the Latin American market. I graduated from Michigan Tech University with a degree in Electrical Engineering. Apart from schooling my friends at Mario Kart, I love to walk dogs at local rescue leagues and was a part-time high-school mentor/teacher for my last 3 years in Boston.
Moderator -> Everyone Welcome to the chat. The chat has now begun. We look forward to answering your questions on careers in strategy and consulting at Chicago Booth.
Tiago -> Everyone Welcome! My name is Tiago Dias. I am a second-year student at Chicago Booth and a co-chair of the Business Solutions Group. I have interned in consulting last summer and worked in telecommunications consulting before the MBA. I look forward to answering your questions!
Janice -> Everyone Hello, my name is Janice Farrar. I work in Career Services on the employer facing team. I'm a relationship manager and I manage our established on-campus relationships with consulting firms. I look forward to answering your questions.
Kirsten -> Everyone Hello! I'm Kirsten Nelson, a Career Coach in Career Services and looking forward to answering your questions.
Sam -> Everyone Hi, I'm Sam Bonning - please ask me anything you like about consulting in Australia or the US, international student experience and opportunities, or just whatever you like about Booth!
Teniola -> Everyone Hi everyone! I'm Teniola and I'm a Consulting Career Advisor and a co-chair of the Management Consulting Group. I am looking forward to answering your questions!
Danielle -> Everyone Welcome to the Chat! I look forward to answering your questions regarding Booth!
Tonia -> Everyone Hi everyone, my name is Tonia Shen and I'm a second-year student at Booth. Right now I'm studying abroad in London Business School and I'm looking forward to answering your questions from London!
Chris -> Everyone Hello from Chicago! I'm Chris Wheat and I'm a 2010 Booth graduate. Last fall I took a new position in the Mayor's Office in Chicago after working for Roland Berger Strategy Consulants. Looking forward to answering your questions.
Edgar_MX -> Sam Question for Sam Bonning: Did you ran your start-up while working in strategy/consulting?
Sam -> Edgar_MX Hi Edgar, I ran the start up after 3.5 years at Booz & Company, but it was a full time role. It was very hands on - so I had to be full time!
Jordan -> Chris Hello all, this question is for anybody. If you could offer only one piece of advice to students looking to go into Strategy or Management Consulting, what would it be?
Chris -> Jordan Jordan, I think you should put some time into thinking about exactly what you're interested in consulting. Diversity of industries? Type of work? Somewhere to park while figuring out what to do with the rest of your life? :-) Whatever the motivation it's fine, but that motivation will play a large part in determining the types of firms you may want to recruit for.
Kohta -> Teniola May I ask to Teniola? - I'm currently working in a financial industry but would like to pursue a consulting job post MBA. What sort of your skills or perhaps networking (i) which you acquired in the IB and (ii) which you acquired or strengthend at Booth are most important for you to be a consultant at McKinsey?
Teniola -> Kohta Kohta, the skills that I most highlighted during the recruiting process that I gained from IB were mostly analytical skills and working with clients. While working on deals in IB, you gain a lot of skills in client service that are transferable to consulting. At Booth, I chose to concentrate in classes in Managerial & Organizational Behavior and Strategic Management to make sure I rounded out my profile in order to balance my previous skills in finance.
Nader -> Sam Hello, I am applied for my MBA and I have a scheduled interview. If my priority is to secure a consultancy job post-MBA for a couple of years, what are the best courses to take?
Sam -> Nader Hi Nader. My top recommendation is to start with the requirements including strategy courses, particularly Competitive Strategy and Marketing Strategy. Depending on your background, I would also consider some basic finance and accounting courses, such as Investments.
RajeevTewari -> Deep I'm a senior engineer and interested in strategic management program. I've a couple of questions a)What are the advantages of having an engineering cum strategic management degree? b)How Booth can help me to switch from my engineering background to this area? Thanks RT
Deep -> RajeevTewari Hi Rajeev. I was in your shoes - I was an engineer as well with an eye toward strategic management roles. I would say that there's a significant overlap between an engineering mindset and that required for strategic management. It takes the same problem solving skills to identify and resolve issues with companies. Moreover, I found that I could leverage my quantitative skills very well in a lot of my strategy classes. As for switching careers, Booth has a number of support structures - Career Services, the Management Consulting Group, 2nd years who made similar career switches - that can help you with the transition. Hope that helps.
AntonDjojo -> Tiago How realistic is it for someone who did not come from consulting/strategy background prior to Booth to actually get a job in consulting/strategy? Are these cases the norm or the exception?
Tiago -> AntonDjojo AntonDjojo, career switching is very common in the MBA. I have done that myself and saw a lot of my fellow boothies doing the same. It is not an easy task, but if you prepare hard and focus on activities that help understand the consulting work you can get there. One of the activities that might help you is the Business Consulting Club (www.chicagoboothbsg.com), which engage first year students in real consulting projects over the fall quarter.
Aditya -> Tiago Hi, I am currently an electrical engineer in Singapore. I am interested in a career in management consulting. I am wondering as to how I can prepare myself for the career switch before I apply for a Booth MBA. Thanks!
Tiago -> Aditya Aditya, the fact that you have already decided to go to consulting really helps. Most people come to the MBA and have not yet decided on which career to pursue. I would encourage you to start looking at the companies and offices you want to join to figure out your office preferences and the differences about companies. I would also encourage you to look for the resources available to help you prepare to transition to consulting such as Booth clubs and career services events. Try to select the clubs and activities you want to join before you come here.
Christopher -> Tonia This question is for Tonia Shen. How is your study in London affecting your career aspirations?
Tonia -> Christopher Hi Chris, I have already decided on my full-time offer before coming to London, so I would say studying abroad doesn't affect my short-term career goals. But taking classes like Entrepreneurship in Emerging Markets and mingling with a diverse student body here in LBS made me recognize the opportunities I can explore after my consulting career, especially outside of the US.
Natalie -> Tiago Hi, I am appreciate if can know more about consulting focus development for engineering background students at Booth. what are the activities can help and what need to be prepared before MBA program started.
Tiago -> Natalie Hi Natalie, please see my answer to Aditya. There are a lot of resources you can use to prepare. I encourage you to check some of the clubs: Management Consulting Group, and Business Solutions Group and also the classes you want to take: Competitive Strategy, for example.
Jordan -> Deep Thank you for taking the time to answer all of our questions. Does Booth offer any assistance to students looking to secure internships outside of the US?
Deep -> Jordan Hi Jordan. Yes - Booth definitely offers support in the way of advice from Career Services and from 2nd years (who've pursued similar opportunities outside US) to help job searching outside the US. I know of a number of my friends who were looking for work outside US, often in remote locations, and were successful in their job search.
HK -> Janice Is consulting recruitment at Booth only for the US or are candidates also placed internationally?
Janice -> HK Hi HK, no, consulting recruiting is not only for the US. The majority of the larger consulting firms have an international presence.
Eren -> Teniola In your view, what concentrations are the most relevant to Strategy Consulting? Is taking Marketing courses critical or can it be done without?
Teniola -> Eren The great thing about consulting is that firms really want well rounded people who are able to tackle a multitude of problems in various industries. I don't think there are particular concentrations that one needs to follow in order to do well in the recruiting process. What I tell people is to focus on making sure you're rounding out your own skill set to make sure that whatever you work on, you'll be contribute to solving the problem. With that said, marketing can be useful if you've never worked in marketing before since you might come across a marketing study during your time as a consultant.
kriti -> Sam I would also like to know how many rounds of interview to top five consulting companies conduct before giving the offer? What are the key deciding factors apart from performance in case studies?
Sam -> kriti Hi Kriti - consulting recruiting on campus is a very structured process for the largest firms. There is a few weeks of "getting to know you" that happens through formal and informal events, after which point a closed list is decided for interviews. If you don't make it onto the closed list though, you can still bid for interviews! Then for the 'official' interview portion, there is 2 rounds for most firms. The first round for American offices happens on campus, with 2 different representatives from the firm, and the second round will usually be held in the office of the firm, where you will meet with 2-3 more representatives, usually Partners. Key deciding factors are case studies but also your story - being able to communicate your strengths and what you will bring to the role from your experience is helpful, as well as creativity. Plus most consultants are looking for someone that they would like to work with, so being an engaging and interesting interviewee is a bonus!
Sharmin -> Chris what can a student do to help make a career switch into consulting ? Do firms tend to go for people with prior experience?
Chris -> Sharmin Sharmin - Prior experience definitely helps. But the types of experiences you have are more important than the amount. You can think about ways to augment your current experience with the skills that are important in consulting via clubs such as Business Solutions Group at Booth or even in your current time before classes begin in September
rohitrg -> Janice 2. How strong is the Booth network in sustainability strategy work especially for top Fortune 500 companies such as GE, Walmart, Coca-Cola
Janice -> rohitrg Hello Rohit, Chicago Booth has strong relationships with the aforementioned companies. We have recently been tapping into these companies for those types of opportunities and making headway. Walmart was just on-campus last week for a sustainability internship position.
rohitrg -> Tiago 1. Apart from the Consulting Group, what other opportunities are there at Booth (official/unofficial) to help in the development of future consultants.
Tiago -> rohitrg Hi rohitrg, you should also check the Business Solutions Group, which engages first year students in real consulting projects with the support of first years and consultants from top consulting companies. The MCG will also coordinate preparatory events and other Lunch and Learn events to help you understand the consulting world. Apart from that there is also some classes you can take and career services to help you in your decisions and give you some guidance.
Niki -> Tonia Hi all, thank you for hosting this session. I've heard alot about Booth's collaborative nature. What are some typical characteristics of study group dynamics at Booth. i.e. what are the typical sizes, how often do study group's meet etc.
Tonia -> Niki Niki - we definitely have a lot of chances to work in study groups! I would say a typical group consists of 3 to 5 students. We usually meet based on need, which means when there's homework / case write-ups due, or when it gets closer to project deadlines. It can range from a weekly meeting to just 3 or 4 times a quarter. Also, we get to pick our own study groups for each class, so you get to meet a lot of different classmates that way.
kriti -> Kirsten Hello All, What percent of student body has received strategic consulting/financial management job offers outside of Chicago?
Kirsten -> kriti Every year about 25-30% of the class receives offers in Consulting. You can look at further data within our Employment Report which breaks this out by function and industry. Students land consulting offers in multiple locations (i.e. Chicago/ Midwest, Southwest, East Coast, West Coast, etc.) based on their individual location preferences and industry preferences. Different offices have a different industry mix of business (i.e. Houston more energy vs. Boston more healthcare). Within the Employment Report on the Locations tab you can see an overall breakdown as to where student go.
gsarkisian -> Danielle Hi everyone, I'm applying Round 3. How many students on campus identify as LGBT?
Danielle -> gsarkisian We have a very strong, and active LGBT community! We have a diverse group of student organizations, one of which is GLIB. All of our groups are active at Booth, and support students on a variety of levels.
Sara -> Sam I'm interested in what your thoughts on the quality of work/life balance as a consultant. Thanks!
Sam -> Sara Hi Sara - quality of life definitely varies. Each firm has a different policy on travel and staffing model, which you will get to know intimately throughout the recruiting process. Also it depends on the case you are staffed on. On average, expect to work around 60-70 hours a week.
kriti -> Deep How did you guys zero in on consulting as your post-MBA career? Has your internship experience in anyway impacted your goals?
Deep -> kriti Hi Kriti. I initially explored corporate roles in strategy before deciding on management consulting. When you start as a 1st-year, Booth has a 2-week Industry Immersion event, where alums and leaders from various industries come to Booth and talk about their life as a consultant/banker/non-profit/entrepreneur - you name it! Those two weeks were pivotal in my decision making. I would be remiss if I didn't mention 2nd year support - their perspectives were also very helpful in helping me narrow down my career search process. And yes - as you mentioned, the internship experience has definitely informed my career goals. I wasn't sure that I wanted to do consulting long-term, but after my summer, I think I'll stick around in consulting for a lot longer than what I would have said when I first started at Booth. Hope that helps.
Benipal -> Teniola Hi, Thanks for organizing this chat event. Could you talk about your experiences from the consulting forum held every year by the Mangement Consulting group.
Teniola -> Benipal The consulting forum is an event we have to educate 1Y students on what to expect during the consulting recruiting process. We have 2Y volunteers who have all done consulting internships work through cases and answer questions as well as give tips on how to go through case preparation. We also have a networking component to the end of the consulting forum where consultants come to talk to 1Y students about their firms. if you would like more information about the consulting forum, please feel free to visit MCG's website!
Shivali -> Danielle Is there any age constraint at Booth? How old is too old to attend a full time MBA program?
Danielle -> Shivali Shivali: We certainly encourage everyone who has had a strong professional background to apply for the full time MBA program. We consider all ages equally.
abrown -> Chris Hi Chris. I'm curious about your transition to the public sector. Did you plan on going that route at some point when you were at Booth? And how has your Booth experience helped in your role?
Chris -> abrown abrown - I thought at some point I might go into the public sector but did not have a timetable in mind. I learned of my role through a Booth classmate of mine who worked at a different consulting firm. The Booth network is critically important not only because of the types of roles your classmates have after Business School but also before Business School. I use the strategy classes and analytical thinking skills from Booth everyday in my new position.
Aaray -> Danielle Hi Janice, like to find out whether all candidates who get admitted are invited for the interview process?
Danielle -> Aaray Every student who is admitted will have completed an admissions interview. Not every applicant, however, will be invited for an interview. Interviews are completed here in Chicago, or by a local alumni in your area.
kriti -> Sam How did you guys zero in on consulting as your post-MBA career? Has your internship experience in anyway impacted your goals?
Sam -> kriti Hi again Kriti - I was in consulting pre-MBA so it was an obvious choice for me. I believe the calibre of colleagues was the key deciding feature for me, and I love strategy. My internship did give me pause though - I was on a tough case, and I had an inflexible manager and wondered if consulting was still for me, but I decided to go back anyway. It's good to have those reality checks sometimes! You'll get plenty at Booth.
rjv -> Tonia Hi everyone, thanks for this opportunity - how much of experience with strategy planning do you ideally need for the strategy management concentration to be of value to you?
Tonia -> rjv Experience with strategy planning is not required for the strategic management concentration. You may even find the classes more valuable if you don't have any prior exposure! Because of Booth's flexible curriculum, you can piece together classes for your concentration based on your background and interests. You will definitely learn a lot from your classmates that share their own experience when we engage in case discussions in class.
Tami -> Teniola Hi there! This is Tami from bangladesh. What courses at the booth school are helpful in pursuing a career in consulting after MBA?
Teniola -> Tami Tami, I think most courses are helpful as long as you're learning something new! The great thing about consulting is that you are faced with new problems daily. What I found most helpful in my first year was competitive strategy and marketing strategy because these were subjects I had no exposure to before business school. These courses helped me as I was going through the case preparation process to be familiar with a variety of problems.
Shivali -> Sam Hi Sam, does Booth look at the back ground of a student before allowing the choice of concentrations...
Sam -> Shivali Hi Shivali - nope - it's up to you. I encourage you to choose classes that challenge you in areas that you are interested in. You'll often find that your path changes once you get to Booth - for example, I discovered a real love for Operations! There are prerequisites to consider for each course but that's the only criteria.
Nino -> Tiago what's the difference between the Mgmt Consulting Group and the Business Consulting Club?
Tiago -> Nino Hi Nino. Sure. The Business Solutions Group is different from the MCG. The MCG is more focused on supporting you to prepare for consulting interviews. The BSG organizes real consulting projects with first year students and companies. It is a 10-week project in which you work with 4 other first-year students and 1 second year as a mentor to address a real client issue. The BSG also gives you access to real consultants to help you in your projects. You can chek the website for more detailed info: www.chicagoboothbsg.com. The experience for me was great and helped me a lot in the project I took at Monitor over the summer. It was one of the best experiences I had at school and that's why I decided to become a co-chair of the club.
mario -> Deep Hello Deep, what are the best job-searching resources available in the management consulting group, and how can students take full advantage of them?
Deep -> mario Hi Mario. The first resource that comes to mind is Career Services - CS is amazing here at Booth. We spend the first few weeks of our 1st year exploring various career options, and learning about the various functions/roles. As we get closer to interview season, we have an internal job database where we can see every on-campus and off-campus interview that's open to Booth students (and there are A LOT of them!). Finally, if you have a specific job in mind that you don't see in the database, you can go to Career Services and speak with a Career Coach, who then puts you in touch with an industry contact. Like I said, I found Booth's Career Services to be a comprehensive, one-stop shop for job searching!
Nader -> Janice How strong is Booth network in the Middle East (Dubai, Saudi, Kuwait etc..)? Thank you
Janice -> Nader Hi Nader, we have definitely grown our global footprint in those regions and continue to do so. We have an employer development person who works on our London campus whose responsible for unearthing opportunities in the EMEA regions.
Shateel -> Chris For all students/alumni -- how has Booth’s quant-focused curriculum changed the way you think about and approach consulting engagements? How might your Booth education differentiate you from consultants that have gone to other business schools?
Chris -> Shateel Shateel: One of the biggest surprises I had when entering my strategy internship and my consulting full-time role is the importance of quantitative skills. Yes, we produced a lot of slides but the analytical rigor behind the content is what clients are often paying for. That creates a point of differentiation for Booth candidates. I also think items such as grade non-disclosure bring down the anxiety level at Booth, which is critical considering consulting requires the ability to handle pressure effectively.
Siddharth1984 -> Teniola Hi Deep/Teniola, can you please explain the importance of GMAT score in landing an interview/job opportunity with the top tier consulting firms such as BCG, McKinsey, etc. I have heard from alumni from top tier B-schools that you need to have a minimum GMAT score of 700
Teniola -> Siddharth1984 The GMAT score is just one aspect of your application in landing a job with any consulting firm. Booth has already done a great job of selecting candidates and consulting firms are well aware of this fact. Once recruiting starts, it is your job to make sure you give a complete picture of who you are, GMAT score included. I have never heard of a candidate who has not been successful (or been successful) at a consulting just because of a GMAT score. If you do your job in recruiting by telling your story, communicating your strengths and fit with the firm, your GMAT score shouldn't be as much of a huge plus or minus as you think.
Chris_B. -> Sam To current students at Booth, do you feel like course offerings are deep enough to really build effective, broad knowledge that would be useful post graduation?
Sam -> Chris_B. Hi Chris_B: Absolutely. The flexible curriculum at Booth allows you to reach deep into a subject with some of the best professors in the world. The faculty is a real strength here. Or, you can be a jack of all trades and know a little about everything. You are really only limited by the time you are here. Booth also has a "take 3 free" policy, so if you have time you can take an extra 3 classes in your graduating quarter for free!
HK -> Tiago Have international MBA candidates faced any problems securing consulting placements / internships due to uncertainties regarding immigration laws? What is your outlook going forward?
Tiago -> HK HK, most consulting companies would hire international students. some small consulting will limit their recruting to american citizens, but in general this should not be an issue. Going forward I don't think this will be an issue for the class of 2013 or for the class of 2014.
Peter -> Danielle Danielle, are the interview invitations sent on a rolling basis or are they sent out on a specific date?
Danielle -> Peter Hi Peter. The interview invitations are on a rolling basis, but we do have specific dates for each round where all of the invitations will have to have been sent to the applicants. Tomorrow is our last day to invite students to interview for Round 2.
Sayeed -> Deep Strategy and consulting are unique disciplines, in that, they require a broad (and ever growing) knowledge of various topics. How does Booth prepare you to adopt a mindset of "pluralism"? If you have a background in engineering, are you better off pursuing a career in tech strategy/consulting?
Deep -> Sayeed Hi Sayeed. I'll answer your second question first. No - having an engineering degree certainly doesn't mean that you should limit yourself to tech strategy/consulting. I am example #1 but you'll find a lot others at Booth. As I had mentioned earlier, there's a lot of overlap between the mindsets required for management consulting and engineering. As for your first question - it's the breadth of classes at Booth (from Negotiations to Managerial Decision Making to Corporate Finance to Footnote Accounting to Competitive Strategy - these are all classes I took just in the last 15 months, by the way!) that gives you that 'pluralism'. Hope that helps.
Aaray -> Teniola Hi Teniola, great to get a chance to interact with you! Like to find out what kind of time commitment does it take to be a career advisor at Booth?
Teniola -> Aaray The time commitment for a Career Advisor depends on your commitment level! I really enjoy meeting with 1Y students and helping them along their recruiting process. It's a grueling couple of months and I try to do my best to help all that I can. For example, during resume review season, I completed many resume reviews outside of my normal hours and sometimes even helped people multiple times! But I really enjoyed what I was doing, helping people put their best foot forward and getting to know my classmates. But on the required side, I have office hours for 2 hours a week in addition to attending the many programs that Career Services puts on that relates to everyone or just consulting.
Sammysosa -> Chris For anyone on the panel who switched to consulting, How did Booth prepare you for this switch? What were some challenges and how were you able to overcome them?
Chris -> Sammysosa Sammysosa - Consulting is notorious for career switchers, so the Career Services staff does a great job of helping you think about how to apply the skills and experiences you've had pre-MBA to a consulting role. I also relied heavily on the Management Consulting Group to help with case prep and networking with firms. The biggest challenge I found is determining what skills and qualities did I bring to the table that were different than my colleagues. Using your classmates and Career Services as a sounding board can help through that process.
Steve_Tsui -> Tonia Thanks everyone! I have a specific question for Tonia: I noticed from your bio that you are the co-chair of the High Tech Group. What generally happens during the meet and greets? If you have to categorize the group's activities, would you say that most of the group activities are entrepreneurial based, consulting based, or otherwise?
Tonia -> Steve_Tsui Hi Steve! There are a wide variety of activities offered by different student groups on campus. We have Entrepreneurship and Venture Capital Group (EVC) and Management Consulting Group (MCG) that offers entrepreneurial and consulting based events. As for High Tech Group specifically, we offer Lunch n' Learns with companies such as Microsoft and Juniper Networks, where they share their project experience and students can mingle with the presenter and company representatives that attend the event. More importantly, we also organize Tech Trek to visit companies in the West Coast, TechVision - an annual high tech conference, and even more career-oriented resources to help students with high tech career interests prepare for recruiting through resume reviews, interview prep, etc.
andy -> Teniola How difficult is it to switch to strategy/consulting post-MBA if you havent had any experience in it prior to your MBA? I am currently working as a trader in a major investment bank.
Teniola -> andy Andy, you can take my experience as a guide. I had absolutely no experience in consulting before m MBA. I was an analyst at an investment bank and then I was a teacher in Brazil for a year. If I can make the transition to consulting, I'm sure you can to.
Sergei -> Sam Question to Sam Bonning - how much value do you see and get from the Booth MBA having that you already was working in the strategy consulting and running your own startup?
Sam -> Sergei Hi Sergei - great question. For me, it's afforded me opportunities outside the classroom which have been just as useful as inside, such as building a network and leading the student government. There are also a lot of soft skills that you can practice here also, which is critical to success at the next stage of my career as I will have to motivate and convince my colleagues and executives.
Aaray -> Danielle Thanks for the response Danielle! Another leading question - Does this mean that applicants not invited for interviews for the second round before the 15th still stand a fair chance of getting admitted?
Danielle -> Aaray If an applicant has not received an invitation to interview by EOB tomorrow, they will no longer be eligible for admission. Any student who is not invited to interview is welcome to reapply, and the new application will be considered along with the old application during the time of reapplication.
Sandeep -> Tiago Being an engineer and one who has decided to get into Strategy positions, would you advise any steps that I could take right now.say till the start of term(if selected)
Tiago -> Sandeep Hi Sandepp. I would encourage you to get more information about the companies you are interested in and the differences among them. At the beginning it may look like all of the consulting firms are the same, but you will learn that they are different. I would also recommend that you think about the classes you want to take to get educated on strategy such as competitive strategy, and also start studying some corporate financial terms. Having a good overview about different industries will also help you on interviews down the line.
Nitin -> Sam Good Morning! Question for Sam perhaps. I'm currently 4 years into Consulting and am trying to evaluate if an MBA would help me now with progressing in Consulting, or can I leave it to organic growth within my company. Any suggestions?
Sam -> Nitin Hi Nitin! Some consulting firms require an MBA to progress, so it depends on the firm. Definitely if you want to transition to another firm, one of the big 3, or change the industry/function you are in, I would recommend an MBA.
kriti -> Kirsten I want to learn more about what the consulting firms are looking for in a perfect candidate when they come and recruit on campus, and how to position myself to be very competitive utilizing both Booth's curricular and extracurricular opportunities.
Kirsten -> kriti Consulting firms look for diverse and well rounded candidates with strong quantitative skills, leadership, teamwork, and strong communication skills given the nature of the work. They want candidates who can deal with ambiguity, are intellectually curious, can think strategically, have strong client management skills and problem solving skills, and can think creatively and outside of the box to come up with solutions. There are tons of opportunities to get to know firms when they come to campus and have formal presentations, lunch n learns, coffee chats, dinners, etc. so having strong networking skills and the ability to build relationships and make a favorable and memorable impression will be important. Given some of these areas joining extra curricular activities to gain further leadership skills, teamwork skills, project management skills, and advising clients can be helpful. Getting involved in the Management Consulting Group, Business Solutions Group are a couple examples of some of the groups students have joined to enhance their knowledge and gain some of these skills.
Aditya -> Tiago Thanks Tiago! Have there been specific courses that have helped you gain traction with strategy/consulting?
Tiago -> Aditya Hi Aditya - yes, Corporate Finance, and Competitive Strategy helped me.
rjv -> Danielle I'm applying for R3, but have heard lots of negative comments about your chances in the last round. Typically, what percentage of the class is admitted from R3? And would you advise waiting for the next class intake to apply?
Danielle -> rjv RJV: We certainly would not have 3 rounds of intake if we did not receive and accept, highly qualified candidates. There is no advantage or disadvantage in which Round you apply. The only true difference in the rounds is the volume of applications that we receive. Since every application is assessed in the same exact way, there is no difference in what round you apply.
Patrick -> Sam is it feasible to do a summer internship in one office, but fulltime in another?
Sam -> Patrick Hi Patrick - usually a firm will insist you apply to the office that you expect to work in Full Time. I have seen some limited instances of office changes, but it's not the norm. Of course, if you work for a different company full time, like I am doing, then it's fine!
Steve_Tsui -> Deep Hi everyone, thanks for taking the time for this chat! I have a question for Deep: I noticed that you were an engineer prior to Booth. In your opinion, how did Booth prepare you for a career in consulting? Are there specific experiences or courses that you found most helpful?
Deep -> Steve_Tsui Hi Steve Tsui. I think I found the strategy and marketing classes to be the most beneficial in preparation for my summer in consulting. I have to also say that my conversations with 2nd years who spent their summer in consulting were also very helpful. Finally, given that we have a flexible curriculum, once I had my summer offer in February of my first year, I can then structured my Spring quarter to take classes that filled gaps for my summer (for instance, I took Operations in the Spring because I had learned that my summer project would require some of that knowledge). Hope that helps!
Edgar_MX -> Teniola Question to co-chairs of the Management Consulting Group: How is the process of selection for chairs and co-chairs at the MCG, what are your responsibilities and how your role expose you to career opportunities?
Teniola -> Edgar_MX Edgar, this year we have a group selected co-chairs for the upcoming year that we believe will continue the tradition of giving back and commitment to improving the recruiting experience for Booth students. From applicants, we look for people who have been successful in the internship process and have ideas on how to improve MCG for the upcoming year. For example, I was mainly in charge of communications, spearheading the 1Y Networking Night with another co-chair, and a primary liaison for some of sponsorship firms. My role didn't expose me to career opportunities because I received my internship before I was notified of my selection as a co-chair. My role as a co-chair is simply another way for me to give back to the Booth community.
Edgar_MX -> Danielle Hi Danielle: Fulbright-Mexico opened an addittional round for schollarships in 2012, upon acceptance to an MBA program. Therefore I decided to apply in this 3rd round. Since Booth final decision happens after fullbrights deadline, I need a letter from the admissions office saying when that final decission will be given. The letter does not represent an acceptance letter, it will just help Fulbrigh in the process of deciding to put my scholarship on-hold until I get the acceptance to Booth. Could Booth extend a letter to Fulbrigh?
Danielle -> Edgar_MX Edgar- I am sure we can work with you and learn more about this option when the time comes. Be sure to keep us in the loop during your application process.
Chong1 -> Tonia Question for Tonia: is it common to study aboard during MBA? Why did you do it?
Tonia -> Chong1 Hi Chong - I think there are around 60 of us studying abroad this quarter, so approximately 10% of our class. I chose to do it because I wanted to get a different perspective on business issues and world economy by attending classes in a different continent. I also want to expand my network and explore career opportunities abroad. London is also a great place to travel around Europe from!
siddharth_dhapola -> Teniola Hi ALL.. Thank you for taking out the time to talk to us, much appreciated.. Since Booth allows students to totally customize their MBA curriculum, for someone like me (engineering background) will there be someone to advise/guide me on what courses would be beneficial in pursuing a career in consulting/strategy..?
Teniola -> siddharth_dhapola Siddharth, that's what consulting career advisors are here for! You can come to any CA and they can help you think through your options. There are also opportunities to meet with a Career Coach from Career Services as well. Don't worry, there's lots of guidance at Booth to help you succeed in whatever career path you wish.
SS -> Sam Sam, will you be able to take a bit about your experience in Australia and US?
Sam -> SS Hi SS - I've really enjoyed transitioning to the US. The biggest changes for me have been the incredible difference in the scale of business here - there's only 23m people in Australia so I went from a smallish pond to a giant pond! There are some minor differences in culture but it has been reasonably similar from that perspective too.
tonito -> Danielle Hi Janice, my name is Antonio(international student) I applied for round 2, i was wondering, if i haven´t received an invitation for the interview yet, i should consider myself not admitted to the school. right?
Danielle -> tonito Hi Antonio. We will extend interview invitations until EOB tomorrow. If you have not heard from us at that point, you may check your online status to see the decision. Those who are not invited to interview are welcome to reapply. Everyone who is being considered for admissions must complete an interview, there are no exceptions. Your old application will be reviewed along with your new application if a person decides to reapply.
Shivali -> Deep Hi Deep. Hope you are doing well. Wanted to understand in-depth about Strategy as a concentration.
Deep -> Shivali Hi Shivali, Strategy concentration (it's called Strategic Management here) is a popular one. Your question is broad so let me see if I can answer one specific aspect of it. Strategic management solutions are required to answer questions such as: What products should you make? Which markets should you enter? What type of organization should you build? How should you respond to competitors’ behavior? Which operations should you outsource? For more info, go to: https://www.chicagobooth.edu/fulltime/academics/curriculum/concentrations/strat-mngmt.aspx
Hakan -> Danielle Hi! I have a question for Danielle regarding admissions. What percentage of the full-time MBA class is admitted in the 3rd round in April? Is it much more competitive compared to the first 2 rounds?
Danielle -> Hakan Hi Hakan: We receive a different amount of applications in each round. There is no advantage or disadvantage re: which round you apply. Everyone is assessed in the exact same manner, regardless of which round you apply.
Pavan -> Chris How does Booth prepare a student who wishes to explore multiple areas like finance, general management, etc. with the concentrations it offers?
Chris -> Pavan Pavan: If I may I'd like to broaden the question to not just include concentrations but classes more generally. Concentrations are important but often what helps in interviews and your employment is your coursework. To that end the flexibility of the curriculum allows you to take the classes you want to take earlier on rather than to wait until the spring or even the 2nd year. For me, I took the Finance class my fall quarter instead of the Winter (when most 1st years take it) and took my accounting requirement later, since I had a background in that work. Hence, you can begin to tailor your coursework to your career earlier in the process.
Jerry -> Tiago Hi Tiago, you mentioned that the Business Solutions group is a great way to give you the tools necessary to work in a consulting environment. I am also curious about the Management Labs courses, which sound very similar in that we get the opportunity to work with companies on real problems. I am interested in a career in organizational design within management consulting. Are there any labs classes lined up that deal with that? I know there are very specific focuses in the management labs (such as social media or healthcare), so some of them might not be appropriate for what I am looking for.
Tiago -> Jerry Hi Jerry - that is a very good question. The difference between Management Labs and BSG: 1) to take the Management Lab you have to enroll for the class (which means you have to pay and take it for a grade); 2) at BSG you get exposure to management consutants and second years, who help you and judge you during the project, and at Management Labs you will get a different support: professors and industry experts. Unfortunately organizational design is a critical issue in most organizations and as students it becomes difficult for us to make recommendations on that. If you want to learn more about organizational design I would encourage you to take practical classes about the subject.
jmd233 -> Sam Can anyone speak to the long term stability of a career in consulting as well as to how transferrable the skills you learn and develop as a consultant are to different industries?
Sam -> jmd233 Hi jmd233, a career in consulting can be stable if you can manage the hours and the workload. The skills are highly transferable because you have the opportunity to learn both a broad strategic toolkit useful for General Management and get deep industry experience later on in your consulting career. There is the "up or out" policy which I will discuss in a moment (stay tuned for my response to "rchandler").
sergio -> Teniola Thank you all for your time. Question for Tiago/Teniola: I want to pursue a management consulting career post-MBA. Is there one particular course, event, or group that best prepared you for the transition - be it case intensive courses that prepared you for internship interviews, cohorts, etc?
Teniola -> sergio Sergio, I would say the management consulting group (MCG) is the one group that best prepared me for the transition. It was one of the first groups I joined and it proved a wise choice! Through the events MCG hosts, I learned about the networking process, each firm and their culture, and got to know many 2Ys who eventually helped me be successful in the process. It is also one of the reasons I decided to become a co-chair as well, MCG was definitely critical to my success.
Whitney -> Tonia Hi, thanks for doing this! Can someone explain the difference between classes targeting "strategy" and those better suited for "consulting". What is the difference? Thanks!
Tonia -> Whitney Hi Whitney - I would say classes do not specifically target strategy or consulting. Classes offered through the Strategic Management concentration provide you with frameworks to tackle strategic problems any organizations may face, which is applicable to both Strategic Planning and Consulting careers. There are also lab classes offered that allow you to have a more hands-on project experience, which again, fit with both career paths.
Lindsay -> Janice Does Booth offer opportunities to seek consulting positions abroad? (like treks to visit companies, or any kind of on-campus information on abroad opportunities)
Janice -> Lindsay Hi Lindsay, yes, students do visit companies during trek week which is typically during the autumn quarter, just after final exams. The treks are student organized trips.
seema -> Danielle hi danielle I am much intrested to start my full time MBA in agust intake but I am facing a bit trouble to apply online can I send you all my hard copies with printed application filled out manually.
Danielle -> seema Hi Seema: We do require that your application is completed online. We look forward to receiving it!
rchandler -> Sam Hello Sam, I've heard that many firms subscribe to the 'up or out policy'. What's your perspective on this?
Sam -> rchandler Hi rchandler - most big firms do have an up-or-out policy in consulting. It can be tough. But they do give you something of a 'parachute' when pushing you out of the plane, and will help you get a good role at a client. So it's a reasonably safe role to take given the post-consulting support.
SP24 -> Danielle Are all admit decisions for Round 2 released on the same day (March 21, I believe)? Or is this rolling as well?
Danielle -> SP24 We do release offers of admission on the same day.
andfaro -> Tiago Tiago, I am a prospective student from Brazil. Considering the job proposals post-MBA, how is the brazilian market for consulting positions?
Tiago -> andfaro Hi Andfaro! Consulting firms in Brazil are hiring and the market is very promising now. Most companies come here to Chicago to recruit. I have seen a lot of applicants from other countries as well: Argentina, Chile and Europe. Some consulting companies in Brazil are doubling the number of people in the next 2 years.
Charles_O. -> Teniola How important is it to have an industry or functional focus when looking at consulting jobs? Is it okay to want a variety of experiences and perhaps work on projects in various industries?
Teniola -> Charles_O. Charles, consulting is an attractive industry to most because you have the option (and some firms require in your first few years) to have a generalist view and pursue projects in a variety of industries. I think if you want to have a focus in a particular industry as I myself did, you have to do a little more research to determine which firms are open to that. But if you want to work in a variety of industries, almost any firm would give you that opportunity.
Booth_Candidate -> Kirsten why is turnover in consulting so high? i haven't seen many ppl last long time there. what do ppl do 2-5 yrs after consulting?
Kirsten -> Booth_Candidate The consulting lifestyle can be quite demanding and grueling given the hours, travel, etc. Therefore, many go into Consulting figuring they want to gain the experience for a few years and then leverage the network and experience to take that next step in their career. Additionally, in Consulting many firms have a generalist model and then over time you begin to specialize in a given industry and/or function. Therefore, some will go join a client in an industry at a senior/ C level, join a corporate in a strategy role, start their own business, work in Private equity, etc. There are many exit strategies that firms offer and will even market these to candidates upfront, as they realize not everyone wants this lifestyle or will be on the Partner track.
John_B -> Danielle Hi Danielle, after recently being invited to interview for Booth I was wondering whether it would be more advantageous to travel out there for to interview on campus or schedule one with an alumni in my current city (new york). Thanks.
Danielle -> John_B Hi John: Congrats on being invited to interview! The decision will ultimately be a personal one. If you have not yet visited Chicago Booth, I would highly recommend coming to campus for your interview. If you feel that you are comfortable with the culture of Booth, you are welcome to schedule an interview with a local alumni.
Jerry -> Chris In terms of switching to a career in strategy/consulting, it sounds like the curriculum, teachers, and clubs have been really helpful during the process. How has the diversity of classmates, or other intangible factors, helped you in transitioning to consulting?
Chris -> Jerry Jerry - The diversity of classmates, from ethnicity to geography to industry, plays a significant role in regards to learning how different people operate and think about problems. This was very important to me, as my pre-MBA work had been exclusively with a US-only investment bank. Interacting with marketing gurus, operations people, and even those without a traditional business background can help you think broadly about problems to ensure you're looking at all solutions at your disposal. Plus it just makes going to school more enjoyable.
BOSS -> Janice Can you please elaborate on general management recruiting possibilities, firms that recruit on campus, the "Booth" students reputation in that respect, etc.
Janice -> BOSS Hi Boss, there are quite a few firms that recruit on-campus for general management opportunities. In addition, we also have a very active job postings board (off-campus opportunities) that compliments our on-campus general management opportunities.
Evan_Coughenour -> Deep Why did you select BCG, as well as the specific office (Chicago)? What was your decision-making process and how did Booth help?
Deep -> Evan_Coughenour Hi Evan. This is going to sound cliched, but I picked BCG based on the people I met. I had an offer from another top firm, but most of my 2nd year contacts were from BCG (coincidentally) and I really enjoyed getting to know some of them. Picking a new job can be a bit of a gamble in terms of the type of work you do, the people you work with and the firm's culture. Picking BCG eliminated 2 out of those 3 unknowns - the people and the firm culture. In fact, that was also the reason why I picked the Chicago office. As for Booth's role in that decision, the 2nd year input (as I mentioned) was key. But I also scheduled meetings with Career Advisors and Career Coaches to get their perspective, as well as contacts for alums who had to make similar choice during their time at Booth (I wanted to see how they fared based on the decisions they made). Hope that helps.
Rubaab -> Teniola This question is for all the students - What is the one class that was the most valuable addition to your knowledge-set or contributed the most to your consulting internship/job?
Teniola -> Rubaab Rubaab, I think the one class that was helpful for me was competitive strategy. It was in that class I learned the concept of frameworks and began to look at cases in the academic setting. This exposure helped me most when I began my case preparation process at the end of the fall quarter.
Siddharth1984 -> Teniola Hi Teniola, so GMAT score is not a cut off per se?
Teniola -> Siddharth1984 Siddharth, yes the GMAT score is not a cut off, just another tidbit of information in your general profile. Much like it is in the business school application process.
Aaray -> Sam Hi Sam, Like to ask you what learnings from your consulting experience at Booz helped you to run your own firm?
Sam -> Aaray Hi Aaray - consulting experience was critical to running my own firm. The strategic toolkit and project planning I took from my time at Booz helped me map out the future for the company and tackle the tactical challenges on a day-to-day basis at the company. Plus, a working knowledge of how businesses work is useful which I gained from exposure to many different companies at Booz. The one thing I wasn't prepared for is how 'hands on' a new business can be! I certainly wasn't used to buying my own printer ink or lugging boxes in a warehouse, but it was fun all the same!
Shivali -> Danielle Hi Danielle, one of my references reached Booth late; does that mean I am automatically shifted to R3? And hence would have to wait till the r3 deadlines to know the interview decision?
Danielle -> Shivali Hi Shivali: Depending on when it arrived, we most likely were able to add it to your application for Round 2.
Priyanka -> Tiago hi everyone, since consulting is a very competitive field in a B school, do you advice some prior preparation to help perform better and land a good internship after the first year
Tiago -> Priyanka Hi Priyanka - yes, but don't stress too much with preparation before school starts as you have other stuff to worry about now :-) But if you have some time I recommend that you try to understand more about the companies and their differences by looking into each website and talking with your friends working in consulting. You should also look for which clubs and activities you want to participate once you get here next Fall.
abc123 -> Chris How difficult would it be to transition from a non-quantitative background (say Architecture) to Strategy/Consulting. What are the hurdles and what are the ways to overcome those?
Chris -> abc123 abc123 - It's hard to say it is or isn't difficult. One friend from Booth had never worked for a for profit institution and now works at one of the largest consulting firms in the world. The motivation behind consulting will be very important in interviews, as will be showing you have the quantitative skills and business sense to succeed. You definitely won't find yourself alone, though. The best prep you can have is from your classmates, many of whom may be in the same position you're in.
Moderator -> Everyone Thanks for all of your great questions! We are halfway through the chat. We will continue answering as many question as we can.
Shivali -> Sam Thanks Sam... so is it true that people from a finance background, over a training background, will be able to successfully change track to Strategy / consulting?
Sam -> Shivali Hi Shivali - yes, it is very possible to change track. There is great career resources at Booth to help you do exactly that. I think I might be the only "ex-strategy consultant" on this chat, all my other friends are career switchers to some extent... A Booth MBA is ideal for career switchers.
Steve_D -> Teniola Hi, I'm a round 1 admit. Are there any classes/labs/activities in the first quarter that you'd recommend to put me in a better position to obtain an internship (aside from the business solutions group and management consulting group)?
Teniola -> Steve_D Steve, there is no specific activity to put you in a better position. I always encourage people to learn more about things they don't know about in order to minimize the chance that you are confronted with something you have never seen before in a case interview. But do not worry, even if you haven't been exposed to things in class, MCG puts on strategy, operations and marketing refresher sessions to help prepare students. Either way, you'll be in the best position you can be as long as you attend the events that are designed to help students in addition to your own preparation.
Shateel -> Deep I have a question for Deep. Deep – with your background in tech/engineering, what skills did you feel you needed to build upon at Booth to land a career in consulting? I would be also interested in hearing the skill gaps other students filled to prepare for jobs in consulting.
Deep -> Shateel Hi Shateel. The primary gaps I had in getting ready for the summer were in strategy, marketing and operations. I didn't need much exposure to accounting and finance, but that was because my summer project was in Consumer Packaged Goods (my friends who had a financial services client may have found the Finance courses more helpful). Apart from the gaps I mentioned, the other big skill gap was in my thinking. Engineers tend to refine a solution until it's as good as it gets - at least I did. That can be a big weakness going into consulting - there simply isn't enough time or data to refine a solution, and if you can't control that urge, you can go down a rabbit hole and pull all-nighters frequently. Taking the strategy classes at Booth quickly teaches you (after you make a few mistakes) how to deal with ambiguous and incomplete data. Hope that helps!
Lindsay -> Janice Are many Booth students finding opportunitites in energy consulting or sustainability consulting? For something niche like this, is it best to work in general strategy first, then move to a specific practice area? Thanks!!
Janice -> Lindsay Hi Lindsay, off hand, I can't think of any specific firms that specialize in energy consulting. For the most part, the firms will hire for the strategy practices and then the person would work with their professional development staffer to express interest in a particular practice.
Chris_B. -> Sam Just how entrepreneurial are management and strategy consulting? As someone a year or a few years out of business school, will you feel like you have a degree of independence or control over the way your projects turn out?
Sam -> Chris_B. Hi Chris_B, great question. I get REALLY frustrated by the lack of control over my projects sometimes. But consulting has a very quick promotion system such that you can manage your own streams very early on, and then your own teams and projects within a few years. So if you can stick it out, you can get to the point where you have more independence!
Niki -> Tonia I know that this would typically vary from person to person, though typically how many student groups can a b-school student realistically expect to actively participate in, given what I would assume to be a rigorous class schedule?
Tonia -> Niki Niki - You are right that it depends on how much a student can take on. It is all about prioritizing and balancing between your classes, recruiting, extra-curricular activities and social aspects at school. This is a difficult question to answer because it depends on what actively participating may mean to you - to attend a lot of the events or actually be a co-chair organizing them? Also, are you involved in large clubs like the Management Consulting Group and High Tech Group that offers a lot of events or smaller clubs like Travel, Transportation & Hospitality. There are too many factors to consider, so sorry that I can't give you a definite answer here!
mjlong -> Teniola Can anybody comment on how office placement works if you're fortunate to receive an offer? I have heard that you indicate your top three choices and tend to get one of the three. Is that accurate?
Teniola -> mjlong Mjlong, office placement varies by firm. I can tell you that specifically for McKinsey, you are asked to rate your top three choices on your application and then the office has the chance to interview you or not. If you top choice wants to interview you, then that's the office you will interview with. If you top choice doesn't want to interview you, your second choice gets the option (the same goes for your third choice). In the end, you are only allowed to interview with one office for your chance at an offer.
Siddharth1984 -> Danielle Hi Danielle, will applicants receive a notification via e-mail by EOB tomorrow regardless of what the mid point decisions is?
Danielle -> Siddharth1984 There will be no admission decisions released tomorrow. All applicants who are invited to interview will be notified by EOB tomorrow. If you do not receive an invitation by tomorrow to interview, then the applicant is no longer being considered for admission. Admission decisions will not be released until March 21. You are able to check your status online at any time to view any and all updates.
Shivali -> Danielle Thanks Danielle, one last one on that; what if the reco reached just yesterday?
Danielle -> Shivali Shivali: What is your last name and I can look it up to see if it has been added to your file.
Jerry -> Sam I ready about the turnaround and restructuring group on the booth website, but the link to the club is down--does this club still exist? It seems like an interesting club.
Sam -> Jerry Hi Jerry - Distressed Investment and Restructuring Group still exists - here's the link: http://student.chicagobooth.edu/group/dirg/index.htm
Shivali -> Kirsten How probable is it for career management services to be able to help someone get back to their home country, within a desired industry...?
Kirsten -> Shivali Hi Shivali- In general I would say this has a high probability. We often say that the more levers you want to pull as a career changer (function, industry, geography) the harder it can be. Therefore, if you are interested in going back to your home country but change industry or function this can often be an easier career transition given you can leverage your existing network, knowledge and familiarity within your home country, etc. We also have an Employer Relations team that is global and regularly meets with companies across the globe to build the Booth brand and identify opportunities which are in turn shared with you through our job postings database, our Career Services blog, etc. Third, we have a wealth of resources and databases available to you to help you do a geographic search to build a target list, find contacts within an industry, etc. Lastly, Coaches and our Career Resource Center staff meet with students daily to help students work on their job search strategy and approach to ensure success.
Viplav -> Deep Hi Deep, what kind of projects that Management Consulting Group will handle?
Deep -> Viplav Hi Viplav. MCG hosts 1st year Case workshop (where 1st years practice case interviews with consultants from various firms), 1st Consulting Forum (where 1st years learn about the various aspects of consulting, as well as get their first exposure to the case interview) and 1st year Networking Night (as the name implies, this is a night dedicated to creating relationships between 1st years and consultants). We also host a number of events for 2nd years (resume reviews, mock interviews etc.). For a complete list, check http://student.chicagobooth.edu/group/mcg/.
TriColour -> Danielle Hi Danielle, if I haven't received an invitation to interview with Booth so far in, (I applied in Round2), what are my chances of receiving an invite before the Feb 15th deadline? Are you still sending out invites?
Danielle -> TriColour TriCoulour: All applicants who are invited to interview will be notified by EOB tomorrow.
Majo -> Tiago HI Tiago, do you have some experience with any of Booth´s resources to approach the Latin American market through consulting? Can you describe your experience?. Thanks for you answer.
Tiago -> Majo Hi Majo! If I understood your question right, the latin american market for consulting has a lot of demand now and you can approach it in different ways: joining a consulting firm or coming up with an idea for a company that does that. If you are looking for joining a firm, please look at the answers I posted before. If you are looking for working with a start-up or an idea you should take a look at the Polski Center and New Venture Challenge (I participated in it and can give you more details on that). Entrepreneurship at Booth is big and there are plenty of resources to help you with that. If that does not answer your question, please let me know.
ahmed -> Janice Hi all, what would you recommend an incoming student who is interested in management consulting do from now until classes start? Practice cases? Learn another language, etc?
Janice -> ahmed Hi Ahmed, I would recommend looking at the wetfeet and the vault guide. You could also do some skills assessment. There will be plenty of time for case prep.
sergio -> Danielle Danielle, I have my interview scheduled for this week...what's the typical timetable between interviewing and getting a final decision on admission? Or are all selections released on the same date?
Danielle -> sergio Sergio: All offers of admission for round 2 will be released on March 21. Decisions are not released prior to this date.
CyrilPhilip -> Chris Hello and thanks to the Booth team for organizing this chat. I have a few questions for Chris – your profile is very interesting since I see myself in a career working closely with the public sector (I aim to work in the tech/consulting services area and eventually head a business focused on addressing the complex problems faced by growing cities worldwide, in areas like energy, transportation, citizen services etc) 1)Can you elaborate on how your Booth MBA a) enabled you to gain insight into the different problems faced by public sector institutions b) helps you to think strategically in the face of complex issues faced by city governments, which are often interrelated and need integrated problem solving capabilities ?Also, 2) what specific tools did your Booth MBA equip you with which have helped you in your current job and what classes/parts of the curriculum did you find most useful?
Chris -> CyrilPhilip CyrillPhillip - The problems the public sector face, many of which you articulated, are similar to many of the problems the private sector faces. The dynamics of revenue and costs are often more different. I think my Booth background and consulting experience help me learn how to appropriately dissect problems, ensure buy-in in from all parties, and proceed with clear missions and deadlines that are back with strong reasoning. One of the courses that helped with these skills is the Social Entrepreneurship Lab, where you're paired with a local non-profit. A helpful resource is to also look at non-Booth classes offered at the University of Chicago, such as at the Harris School for Public Policy. They can help provide a different perspective on some of the issues you're already discussing at Booth.
SS -> Sam Sam, can you talk a little bit about your experience at food distribution start-up and compare it to your consulting experience?
Sam -> SS Hi SS - it's very hands-on versus a consulting career. Consulting has a lower level of independence but great training, so it's really just about what you think is best for you now in your career.
CyrilP -> Danielle Hi Danielle, is there any advantage in submitting an R3 application well in advance of the deadline? I was wondering if you review the applications in the order in which they are received,
Danielle -> CyrilP CyrilP: We do review applications as they become complete. There is no advantage or disadvantage to the timing of your application.
ldedwa -> Danielle Hi Danielle, my name is Lonna. This question is regarding the application process in general. I have applied for Round 2. After contacting the school regarding regarding my second GMAT score, I was notified by a representative to send an email; I did, however, I did not receive confirmation of receipt. Will my most recent score be considered during the process? Thank You
Danielle -> ldedwa Idedwa: Yes, we will attach your most recent GMAT score to your application.
Pavan -> Chris Thank you Chris...Is it then possible to have multiple concentrations in Booth? If yes, how does a consulting firm recruiter view this...negatively or positively?
Chris -> Pavan Pavan - It's absolutely OK to have multiple concentrations at Booth. It's almost difficult not to, as many of them only require 3 or 4 classes. Consulting firms aren't looking for robots. Although it's helpful to take strategy courses, the expectation is that you'll have a variety of non-strategy skills at your disposal (Operations, Finance, Marketing, etc.).
Marina -> Kirsten How is a marketing or market research background valued by the consulting firms that are recruiting, compared to more traditional backgrounds, such as finance?
Kirsten -> Marina Hi Marina, the good news is consulting firms look for well rounded and diverse candidates that come from a broad range of backgrounds and experiences that can add value. Therefore, as long as you can identify and communicate your strengths and highlight transferable skills that they seek (i.e. creativity, problem solving, leadership, teamwork, communication skills, advising skills, etc.) they are very open to all types of backgrounds.
Punit -> Tonia Has anyone explored healthcare Strategy jobs with established firms (live GE HealthCare, Pharmaceutical, Medical Technology) or consulting firms (PriceWater Coopers-healthcare division)? Are there alumni/career services for healthcare segment?
Tonia -> Punit Hi Punit - Although I haven't actively explored healthcare strategy jobs, I came from Deloitte Consulting and has worked on multiple projects in the industry. I believe most consulting firms offer industry focus in healthcare, which is something you can discuss with recruiters and practitioners to express your interest. Healthcare Group at Chicago Booth can provide you with resources related to career paths in the industry and I encourage you to reach out to the co-chairs for more information.
Shane -> Sam For those of you that came from consulting prior to your MBA, would you recommend that for summer internships you get some experience in industry?
Sam -> Shane Hi Shane - summer internships can be a great opportunities to establish a relationship with the firm you want to take a full time offer with. Big consulting firms recruit most of their full time class out of their intern pool. If you are going back to the same firm though, I would definitely take the opportunity to gain some industry experience.
Nino -> Tiago Tiago, how would I go about finding consultancies that specialize in emerging markets consulting?
Tiago -> Nino Hi Nino, most consulting companies are giving a lot of attention to emerging markets and have developed internal expertise on that markets because of the strong demand for consulting services. You can get more information by joining the clubs: Emerging Markets Group (which has a conference about emerging markets each year), Latin American Business Group, for example.
Mariana_Pereira -> Teniola Hello. Thank you for organizing this chat. For those of us considering careers abroad would you recommend using the International Business Exchange Program to get exposure to additional recruitment opportunities? I find its an interesting option but don't want to miss out on the great opportunities in Chicago.
Teniola -> Mariana_Pereira Mariana, I'm currently on IBEP in Australia and think its a wonderful opportunity to get additional recruitment exposure! In regards to recruiting for internships, IBEP will not be of help as you do your quarter abroad typically in your 2Y. But for full-time opportunities, I have many friends who are looking for full-time job opportunities in their exchange location. For example, I know of people who are looking for positions in luxury goods that are on IBEP in Paris. The trade-off between being in Chicago and being on IBEP is a personal one. For me, it has been an amazing experience thus far. I have even had the chance to network with the McKinsey offices here to open the opportunity to work here in the future. As you decide if IBEP is something you want to pursue, decide what you want to get out of the program and if you can't do those things from Chicago it might be a good decision to pursue as it was for me.
sergio -> Sam What emphasis does Booth place on cases studies in its curriculum. I know the school is a leader in producing thought leadership and intellectual capital, but what exposure do students have in connecting the concept to practice?
Sam -> sergio Hi Sergio - we have a huge number of case based classes. Often classes are a mix of cases and theory, so it's very connected.
Siddharth1984 -> Danielle Hi Danielle, if an applicant does not receive invitation to interview by EOB tomorrow, that means that denial of admission, correct? The status will not change by Mar 21?
Danielle -> Siddharth1984 Hi Siddharth: If you do not receive an invitation to interview, you will receive an updated status that your application has been declined. Only applicants who were interviewed will receive notification of their status on March 21.
Majo -> Deep Hello everyone and thanks for answering our questions. This is a question for Deep. I can see that we have in common a very similar background and also career goals, so I believe you can give me a clear idea about Chicago´s resources to make a career transition into consulting. Which ones do you consider are the school´s most valuable resources for future consultants in terms of courses, inspiring professors, clubs and some other opportunities for experiential learning? How can you describe Booth´s approach to emerging markets like South America? Thanks again!
Deep -> Majo Hi Majo. Hands down, the best resource at Booth is the Career Services - it's amazing how responsive and comprehensive they are, especially for folks going into consulting. The next most important resource are 2nd years - I couldn't have had the success I had switching careers if I didn't have the opportunity to chat with 2nd years who were in my shoes! As for classes, as I mentioned earlier, I found the strategy, marketing and operations classes very helpful in preparing me for the summer (given the flexible curriculum, I structured my Spring Quarter to fill the gaps before the summer). Finally, you asked about Booth's approach to emerging markets - although I didn't specifically recruit for that region, I know of a number of friends who did and they were very happy with the support they got from Career Services. Also, they took classes focused on emerging markets in their first year - another benefit of the flexible curriculum. And of course, let's not forget the student groups that area focused on emerging markets, including Latin America. Hope that helps.
Pete -> Tonia This is a question for Tonia. Tonia, when is the best time to do an exchange if I am trying to transition careers into consulting?
Tonia -> Pete Hi Pete - Students typically study abroad in the Winter quarter (January - March) of their second year and on-campus recruiting (including consulting) will be over by the end of Fall quarter. If you choose to study abroad in China, some students do go abroad in their first year's Spring quarter. This also won't affect recruiting in consulting because the internship recruiting cycle for consulting will be over by end of Winter quarter. Hope this helps!
Eren -> Chris On what kind of strat consulting engagements have you felt that you've used what you learned at Booth? In terms of relying on what you learned at Booth versus your past career, which would you say happens more often?
Chris -> Eren Eren: During all my projects it was a mixture of both. I definitely used my strategy and finance coursework on every project. Marketing and economics have been helpful. The LEAD course, taken in your first quarter, and my Managerial & Organizational Behavior courses were also very helpful in regards to knowing how I operate in teams and what are the different ways I can contribute rather than fulfilling what my "natural" tendencies can be in organizations.
PSu -> Sam Thank you for organizing this chat! Can you tell us what type of preparation goes into recruiting for consulting? Is it mostly case preparation, or are there additional components as well? Secondly, what is a typical interview for a consulting position like?
Sam -> PSu Hi PSu, case preparation is important but so is practicing telling your story, talking about your resume and your successes and lessons. There is a great amount of preparation that the school helps with: I reference my friend Deep's post above about the preparation from the Management Consulting Group, plus Career Services is incredibly useful in helping your preparation. As for a typical interview, it will go for about 45 minutes, include a resume discussion and a case, and then you will have 5 minutes to ask your interviewer questions about the firm.
Sid_arhat -> Danielle Hi Danielle, I have scheduled on-campus interview for next week and have also scheduled a class visit program independently on that day itself. Does the On-campus interview have additional events that might cause conflict with my class visit program? I have attended the abbreviated schedule program in January.
Danielle -> Sid_arhat No, as long as you scheduled your intereview for before or after the visit program, you should be fine. The interview will be 30-45 minutes.
Pradeep -> Deep Hi. This is a question for Deep. I am working as an engineer today and look forward to enter the domain of strategy and consulting. I am particularly interested in a specific industry - automobiles. At Booth, what are the opportunities to develop skills in a highly focused area vs developing skills at a broader level?
Deep -> Pradeep Hi Pradeep. Generally, I'd say that Booth is more geared towards developing general skills (as opposed to skills for specific areas) like the automotive industry, for instance. Still, you can always take courses outside the Booth campus if you are looking specific skills in that industry (maybe mechanical engineering courses). Hope that helps.
Marina -> Sam Hi, For those students that had pre-Booth experience in consulting: What kind of opportunities you believe were opened to you as a direct result from being in Booth, that would not have been available to you otherwise?
Sam -> Marina Hi Marina - for me, the biggest benefit was access to the MBA recruiting format. Big consulting firms expect to get the majority of their Associate-level roles from top MBA schools. Also, many consulting firms expect an MBA for career progression.
KevinM -> Teniola It appears that many of us are looking at switching into a consulting career. With the discussions beginning so quickly between students and consulting companies regarding internships, it seems that gaining quick knowledge and experience are a must. It is evident from your answers so far that the Management Consulting Group and Business Consulting Clubs are great resources for this. Are there any other activities or programs that would help people switching careers to build their experience quickly so they have more to show to a consulting firm when trying to land an internship?
Teniola -> KevinM Kevin, because the consulting recruiting process starts so quickly, there are not many activities or programs (beyond the ones through Career Services and MCG provide) to provide experience per se. The great thing is that consulting firms are looking for smart people that they can train in their way of thought to solve tough problems. And your natural intelligence is what will get you into Booth and help you be successful in the consulting process. Once you get on campus, Career Services and MCG does its best to educate you on the numerous things you will need to know in order to make sure you put your best foot forward. With that said, I pursued Board Fellows, a program with Net Impact, to essentially work on a consulting project with a nonprofit firm. I think my experience there helped me understand what consulting is about which added additional credence to my application but was by no means necessary.
Sam -> Everyone Thanks everyone! I have to drop off now, but please feel free to contact admissions with other questions!
Moderator -> Everyone There are 15 minutes left in the chat. We will continue to answer as many of your questions as we can!
Evan -> Chris Chris - This may not be the right forum for this question, but I am interested in hearing about how you see opportunities in the energy and utilities sectors growing in Chicago. I currently work for a vendor of ComEd in implementing the smart grid, and I would like to stay in the sector and in Chicago after business school. Thanks!
Chris -> Evan Evan - You probably know better than I do :-) But I think it's an interesting time for energy/utilities in Chicago. The sustainability community in Chicago is growing rapidly. I suspect the new investments ComEd and others will be making into Smart Grid technology will create several derivative companies in the area. Plus, Booth alums are very involved in the Energy start-up community. For example 2 classmates of mine from Booth (Seyi Fabode and Phil Nevels) are co-founders of Power2Switch, which help residents find cheaper home electricity alternatives.
Aaray -> Tonia Hi Tonia, Good Morning! In what has your experience at the London Business School been different compared to your experience at Booth in preparing you for a career in consulting?
Tonia -> Aaray Hi Aaray - London Business School has an even more diverse student body when compared to Booth, so it has been a great experience interacting with students from all over the world and listen to their perspectives of business issues in class. I think this helps broadens my understanding of international business and getting some exposure to cultural differences, which will be helpful when working with multinational firms in consulting engagements.
Chinmay2012 -> Tiago My question towards anyone who would like to answer. Is it hard transition for a non-consulting guy to get in to consulting. My background is Project Engineering/Mgmt. and interested in consulting in social sector
Tiago -> Chinmay2012 Hi Chimay2012. Career switching is harder, but it is the reason most people come to the MBA. It helps you show that you are interested (because of you willingness to pursue and MBA course) and helps you prepare to take on consulting projects as you get educated in strategy, finance and marketing. As I mentioned before, there are a lot of resources to help you transition to consulting (career services, clubs, classes). In the next few months you can look at your resume and look for the skills you can transfer to consulting.
Jim_Roney -> Kirsten What are common exit opportunities for those who go into strategy consulting at Bain/ McK / BCG? Is Private Equity an usual exit?
Kirsten -> Jim_Roney There are many exit strategies depending on your own interests and the career path you want to take. Most of these firms have a generalist model and over time you begin to specialize in a given industry and/or function. Therefore, some will go join a client in an industry at a senior/ C level, join a corporate in a strategy role, start their own business, work in Private equity, etc. PE can be an exit strategy especially if you were part of their PE practice or go significant experience in an industry that you can add value to a PE firm. There are many exit strategies that firms offer and will even market these to candidates upfront, as they realize not everyone wants this lifestyle or will be on the Partner track.
Charles_O. -> Janice Hi, I'm interested in switching careers from a background in fixed-income derivatives and risk management to strategy consulting. How difficult is it to make the switch and what are the areas you would suggest I should focus on improving while at Booth?
Janice -> Charles_O. Hi Charles_O, approximately 75-80% of your students are career switchers. It will not be difficult to make the switch. I would recommend a lot of industry research so you are abreast of the industry and various types of consulting opportunities. You would then want to decide what type of consulting your interested in and narrow your research to that area. Once you've done that, then you will want to figure out how to speak to your transferable skills and we have career coaches and 2nd year career advisors that can help you with that.
Siddharth -> Deep I am looking for a career in management consulting but would also like to take advantage of my time at booth and improve my next to zero knowledge in finance. Which courses would you recommend to allow me to develop basic fundamentals in finance.
Deep -> Siddharth Hi Siddharth. That's a very relevant question for me when I started last year. I thought Corporate Finance, Entrepreneurial Finance and Private Equity and Cases in Financial Management were three classes that dramatically changed my understanding of Finance. I am also taking International Corporate Finance with Prof. Rajan (renowned economist) - that's another amazing class. As you can see, I've clearly loved my time in Finance classes at Booth! I wouldn't have guessed that about 15 months ago.
memery999 -> Teniola Hi Teniola, a follow-up to mjlong's question: do consulting offices in less desirable locations tend to be substantially easier to get interviews with?
Teniola -> memery999 Memery, it is not in your best interest to game the system since the consulting firms will figure out very quickly if you're just pursuing offices just to receive an interview. Consulting firms in all offices will ask you questions as to why you want to be in that particular office, and if your answer is not one that is credible, you will not get an interview or continue through the process. My advice is to be true to what you want and as long as you do your job and prepare, you can get to where you want to be. It is true that bigger offices in larger cities tend to have more applicants and competition may be stiff. But if that's where you want to be, you should definitely try. I myself targeted New York/New Jersey locations because its where I'm from. And granted its a bit more difficult to network with these locations, it paid off for me in the end.
Rob -> Tonia Hi Tonia, can you speak to your studying at the London Business School? How did you decide to do that study abroad program? How long are you in London?
Tonia -> Rob Hi Rob - London Business School has been a great experience so far. Since I came from Asia and have lived in the US for nearly 10 years, I decided it will make the most sense to study abroad in Europe. LBS also has a rigorous curriculum, which is something I was looking for since I will be missing out on amazing classes offered in Chicago Booth. I will be in London for a total of 10 weeks, because LBS's semester coincides perfectly with Booth's quarter.
Eren -> Janice I already work in Consulting, however more in the Financial Services - Operational Change space. I want to go into Strategy Consulting, and I have other sectors in mind. In your experience, do Strategy houses such as M/B/B care about past sector experience in assigning roles and departments for Interns / new Associates? Would I be pigeon-holed into Financial Services or more operational projects?
Janice -> Eren Hi Eren, no, companies don't typically pigeon-hole you if you make it clear that you are no longer interested in that particular sector. The firms know that approximately 75-80% of our students are career switchers so just stating up front you are no longer interested in doing the type of work you used to do and noting what you are interested in, you will be fine.
KevinM -> Chris Chris, working in the public sector as you are and connecting with the people that you must, have you considered a move into a political career? Whether yes or no, do you think with the flexibility of strategic management and the Booth program that transitioning from public consulting into a political career is a feasible path?
Chris -> KevinM KevinM - I've been in the public sector long enough to know I don't want to go into politics :-). The motivations to run for political office are extremely complex and are different for every candidate. I think my Booth education combined with for profit consulting experience have prepared me for my current role, which I love. The path to a political career can take whatever form your like, although having the analytical background is a definitely plus when dealing in the public sector arena.
Itamarbz -> Kirsten How common is it for students to go through the recruiting process for consulting in parallel with other recruiting tracks?
Kirsten -> Itamarbz Yes, this is very common and we would recommend this approach. The consulting recruiting process is extremely labor/time intensive but given the competitive nature of the industry and even more so for internships in terms of hiring numbers (less positions/ opptys than for full time ) we encourage students to have a Plan B. Many may look into corporate roles within an industry or strategy roles, etc. as timing wise this typically happens later in the interview process. However, since some of these other opportunities are other students plan A we recommend students try and work these in tandem. However, time wise they may dedicate 70-85% of their time to consulting and 15-30% of their time to their Plan B.
Jordan -> Tiago Hello everyone and Happy Valentine’s Day! Thank you for taking the time to answer our questions. My career goal is to attend Booth, get a job with a top Management Consulting firm and then move my way into Private Equity or Venture Capital. With these goals, what specific classes and/or other extracurricular activities/groups would you recommend participating in that would make me an appealing candidate for Management Consulting firms and then PE or VC firms?
Tiago -> Jordan Hi Jordan. I have focused my efforts in transitioning to management consulting in my first year at Booth. Now in the second year I am exploring PE/VC. For consulting, I would recommend the MCG, BSG clubs and some classes (please see my other answers). For PE/VC, I would highly recommend that you take classes such as Entrepreneurial Finance and Private Equity and Commercializing Innovation. I have also participated in the New Venture Challenge and, the VCIC competition and the Sterling Partners Investment Thesis competition, and I am now working in developing an investment thesis with a large private equity company in Chicago.
Nitin -> Deep Deep, regarding the Industry Immersion. That's great to hear. Is this all talks by key industry personnel, or do students also get a 'hands on' / real view of a day-to-day life?
Deep -> Nitin Hi Nitin - yea, it's a 2-week event so there a lot of talks/panels/speaker series. But there are also a lot of 1-on-1 sessions where you can ask specific questions. I found those sessions to be the most useful in trying to get an understanding of the day-to-day life. Hope that helps.
Pete -> Teniola Hi - my goal is to change careers and go into consulting but I'd also like to do an exchange abroad. How tough is it to land a full time role in consulting post-graduation while still getting a chance to do an exchange?
Teniola -> Pete Pete, I am doing exactly what you picture yourself doing! I am going into consulting full-time and am currently on exchange in Australia. It is definitely possible but requires some planning on your part as well. I landed my internship during my 1Y and decided to return for full-time. I applied to go on exchange in October of my 2Y so had time to do both. Even if you do not land a consulting internship, full-time recruiting occurs in the fall. It is possible to land a full-time offer before you leave for exchange in the winter quarter. This may limit the schools you can attend but its well worth it to have an offer in hand before you go on exchange!
David -> Tonia hello, this is David. I wonder do you guys generally prefer consulting or corporate strategy postmba, in the short term?
Tonia -> David Hi David - Preference for consulting or corporate strategy will depend on your lifestyle choices and previous experience. While both career paths offer amazing experience, consulting will provide more breadth in giving you exposure to different industries, while corporate strategy will give you more depth in working on most critical issues within a company and industry of your interest. Also, most consulting jobs require traveling and longer work hours, whereas you will mostly stay local in a corporate strategy job.
Aditi -> Chris Hi Chris, I have a question: are there strategy/management consulting opportunities available for Booth graduates with firms that have a defined public sector division?
Chris -> Aditi Aditi - some firms do focus on the public sector or have public sector groups. The firms with public sector groups often do a mix of pro bono and paid work for different entities. Much of that work in Chicago is channeled through the Civic Consulting Alliance, who not only does consulting work for local government agencies but also helps connect consulting and other professional services firms with people in the government who could use outside help. It's a great model which many other cities which they had.
Sergei -> Tiago This is a questions about structure of classes - are they theory or practice oriented? And - what is the exposure and opportunities for internship/work on real cases during full-time MBA?
Tiago -> Sergei Hi Sergei - you will find either theory and practice oriented classes, but most of them are very practical and based on real life examples, either cases or experiences that professors have been through in their careers. To get real experience in consulting I would recommend you join the management lab class or the Business Solutions Group.
siddharth_dhapola -> Janice I have heard really great things about the Career Services team at Booth.. How easy/difficult would it be to recruit for the international positions (say HK or Singapore)..?
Janice -> siddharth_dhapola Hi Siddharth_dhapola, we as a career services office do our best to assist our students as best we can. Our mantra is 'students own their job search, but they are not alone in it,' it is definitely a partnership. We have a campus in Singapore with dedicate career services staff that help with unearthing opportunities in that region. In addition, we another career services person located in hong kong whose primary responsibility is finding opportunities for current students as well as alumni.
Greg -> Tonia Tonia/Teniola: I'm leaning strongly towards an exchange if I get admitted. What would you say are the drawbacks?
Tonia -> Greg Hi Greg - The drawbacks are missing out on great classes offered by Booth, having limited ability to help out with the extra-curricular activities that you are part of on campus, and not seeing some of your friends who decide to stay in Chicago for the Winter. But being on exchange is such an amazing experience that compensates for the drawbacks I mentioned above!
Devika_Halbe -> Tiago Sorry my last message was incomplete. My question is for Tiago.Hi Tiago! Thanks for taking the time to answer my question.Which firms would you suggest for a career in technology consulting if exposure and learning are the criteria to be judged on?
Tiago -> Devika_Halbe Most consulting companies will work in technology consulting projects. I would recommend that you learn more about the firms and and find the people responsible for technology strategy when you have the chance to talk with them in their campus presentations and other events you will join when you get here.
Brady -> Kirsten What accounts for the difference between the percentage of the class that interns in consulting and those that land full-time offers in consulting? The Armed Forces Group suggested that the firms aren't always able to forecast the number of people that they will need in a year, resulting in opportunities for those second years that didn't intern over the summer.
Kirsten -> Brady Hi Brady- there are less opportunities/ hires for internships vs. full time positions given the nature of the work. The strategy consulting firms work on strategic projects that generally last alot longer than 3 months, some may even be for 18-24 months, which makes it difficult to have interns on these types of projects. Firms want to ensure students have meaningful experiences and can provide impact by being involved on a project from start to finish. Thus there are less of these short term projects so firms will hire fewer interns than they have the bandwidth to do for full time. Full time recruiting takes place in the fall of your second year and students are hired to start the following summer/ fall so firms typically can forecast their business needs a good 9-12 months in advance.
Kola -> Teniola For those second year Booth students who have interned at management consulting firms that have branches in emerging markets (Teniola at McKinsey for example) where you might be interested in pursuing long-term opportunities, are you finding that it makes the most sense to accept full-time offers with the foreign branches of those consulting firms (and actually move to a different country after your MBA) in the short-term or do you take an offer from a USA office and lobby for projects in those emerging markets?
Teniola -> Kola Kola, this is something I faced when recruiting for consulting. I am very interested in emerging markets and talked to consultants from Nigeria and Brazil when I began networking in addition to offices from the US. I think your question depends on where you would personally like to start your career. I knew I wanted the opportunity to work on projects in emerging markets but realized through my talks with consultants that I didn't necessarily need to live there. This is one of the reasons I targeted firms with international exposure because that was very important to me. I chose to take an offer from the NY area where I'm from and use that as a base to get on international projects. I have also seen it done the other way where someone pursues an offer in an international location because exposure to emerging markets supersedes any other consideration.
hemant -> Deep The Dean recently described the Booth MBA as a data driven school, amongst others. How has Booth helped you guys become a better consultant using this data-driven approach? Do you think MBA employers look for this when approaching Booth students?
Deep -> hemant Hi Hemant. I haven't heard that quote myself, but I can think of two different contexts where that might be applicable. First, the Dean may have been referring to how decisions are made at a school level (i.e. which classes to offer, which industries to focus on for recruiting) and perhaps the Dean was saying that Booth makes it decisions based on data, and not on current MBA trends etc. A second perspective could be that the Dean was referring to the actual classes and how they are taught (which is probably what you are referring to in your question). If that's the case, then I think the Dean is absolutely right. I'll make my case with an example. In Negotiations class, we spend considerable amount time with mock negotiations with others etc. And that's probably standard. But I recollect that in our very first class, the prof. drew up a model to calculate the costs and benefits of negotiation and to judge at what point you should negotiate further vs. give up and compromise (that's a very simplified explanation but that's the best I can do given the space). I think that something as touchy-feely as Negotiations at Booth still has a quantitative component to it - and that I think that's a very "Booth" thing to do.
VArio -> Tonia Hello Tonia, I'm interested in specializing in Strategy and Entrepreneurship in my MBA, and was wondering if there are any specific classes at Booth that you would label as a 'must take' in these areas. Thanks!
Tonia -> VArio Hi Vario - I really enjoyed my Competitive Strategy class with Prof Emir Kamenica and New Venture Strategy with Professor Jim Schrager is a "must take" and will cost you a lot of bid points!
Booth_Candidate -> Janice approx. what % of summer mba interns received full-time offers from the firm that you interned at? thanks.
Janice -> Booth_Candidate Hi Booth_Candidate, approximately 60-65% of interns get full-time offers from their internships.
Raymond_L -> Tiago Thanks for organizing the chats today! For students breaking into management/strategy consulting, do you have any insights for how to best prepare in the summer before starting the MBA program in Fall?
Tiago -> Raymond_L Hi Raymond_L, please check my answers for previous questions and let me know if you have other specific questions on the resources that can help you on how to prepare.
rjv -> Deep Do you find that operations management is a course most students going into consulting take? What is the tie-in between ops management and strategy management?
Deep -> rjv Hi rjv. Yes - a lot of 1st years do end up taking Operations before their summer in consulting. Also, the Ops group and Management Consulting Group co-host lunch-n-learns that cover operations in consulting. Hope that helps!
Moderator -> Everyone Thank you for participating in our chat. The chat has now ended. The transcript will be posted within 48 hours at: http://www.chicagobooth.edu/fulltime/chat
Danielle -> Everyone It has been great chatting with you today! We look forward to hearing from you as time progresses. Thank you for your continued interest in Booth! Happy Valentine's Day!
Janice -> Everyone It has been great answering your questions. Hopefully you've found this session useful. We look foward to having you as a part of the Booth Community soon. Take Care!
Deep -> Everyone Thanks for your time everyone. It was a pleasure answering questions. Good luck and hope to see you around in the Harper center soon!
Teniola -> Everyone Thank you for all the great questions and spending the time to learn more about Booth. Best of luck!
Chris -> Everyone Thanks so much for the questions...hope to see many of your in Hyde Park next fall!
Tiago -> Everyone Thanks everyone for your questions. I has been great to interact with you today! I hope you found this session useful, and that it helps in your decision to come to Chicago Booth in the fall!
theCofe -> Kirsten Thank you all for making yourselves available to answer questions. My question relates to consulting recruiting - is it common that a number of students don't get any job offer from their top choice firm as a result of the students' geographical preference (i.e. if everyone wants to work in a firms' NY office)? Or is it more common that people are still offered jobs, just in a different region than they prefer?
Kirsten -> theCofe In general when you apply to a consulting firm you must list your top 3 choices location wise. The firm then will decide what location they feel you are the best fit/ match for given your skills, experience, etc. and then you will have a chance to interview with that specific office. NY, Chicago, etc. often have more applicants than Cleveland or Minneapolis, but in turn these offices are larger and tend to hire more interns as well. Therefore, it is important to go after a location that is really of interest to you as this would also be the location where they would offer you a full time role to join post school. They don't want students trying to play the odds and pick a less popular location, etc. If looking at NY, SanFran, etc. it will be important to do networking and build relationships with that office specifically to gain traction.
Tonia -> Everyone Thanks so much for the great questions. Hope it helped you learn more about Booth!
Kirsten -> Everyone Thanks for all the questions, hope this was helpful and let us know if we can be of further help to you in your decision making process.