The MBA is an exciting stepping stone that will enable you consolidate up-to-date business knowledge that together with your existing professional experience paves the way towards a fulfilling new career. This may be either in a new job sector or in a new business role altogether.
Whilst initially the MBA is unlikely to enable both, a move into new career and a new sector, this can be achieved by targeting one aim and then the other as a longer-term strategy.
This blog provides information about career planning and resources for your MBA-level job hunting. If you have any further suggestions for improvement, please email me firstname.lastname@example.org.
On this blog, you can find tips and advice for career planning, writing a CV for MBA students, job hunting resources.
Networking with University of Kent alumni
KEW-NET is a professional mentoring and networking platform exclusively for alumni, current students and members of staff at the University of Kent. Here you can access and share various career experiences, be able to provide advice, and support individual’s development and career advancements. To access, go to http://kent.aluminate.net/.
Many MBA students are looking for a career transition into Management Consulting, and information about this career is provided below.
- The Management Consultancies Association (MCA) is the representative body for management consultancies in the UK. The MCA promotes the value of management consultancy for the economy and society as a whole. Its member companies comprise around 60% of the UK consulting industry, employ around 30,000 consultants and work with over 90 of the top FTSE 100 companies and almost all parts of the public sector.
If you’re new to management consulting, then the pages for Young MCA are particularly informative and might be of interest. Click here to access.
Preparing for applications and case study interviews
Consulting case 101 is a blog site dedicated to getting into management consulting; it includes a compilation “A Day in the Life of Management Consultants” series to give you an idea what a typical day of a management consultant looks like in different consulting firms.
To help you prepare for case study interviews used by most consultancies, scroll down to section 5 from the Interview and Assessment Centre information on this blog, which is about case study interviews.
Resources and jobs
- InsideCareers – click on title for career insights and information about how to get in; featured articles include The Future of Management Consulting, Salaries and benefits; Advice on becoming a consultant.
- BLT (Beament Leslie Thomas) is a London-based leading niche specialist recruitment company for Indirect Tax, Management Consultancy, and Interim Management.
You will find the latest information on their blog – http://www.blt.co.uk/about/blt-blog/.
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Below are the latest 3 newsletters from Don Leslie, Management Consultancy Trainer, who compiles this information regularly. This page is updated monthly and KBS is grateful to Don Leslie for sharing his up-to-date news.
Management Consultancy Newsletter
Consultancy market reports for Spain and Scandinavia – what McKinsey look for in new hires – top firms in healthcare and actuarial consulting – PA Consulting’s results – data scientists – IBM’s blockchain female leadership – UK Government consulting – not every picture tells a story – juggling job offers
Consultancy markets in Spain and Scandinavia are growing, according to two new studies from consultancy market intelligence firm Source Global Research http://www.sourceglobalresearch.com/ . Spending on consultants in Spain grew over 7% in 2017, reports Source, valuing the market at nearly €1.5bn. Business transformation, process improvement, data and analytics service lines all saw demand rising, with the Financial Services and Retail sectors providing “double digit” expansion. In less temperate latitudes the Scandinavian countries provided slightly..er..cooler growth for consultancies. But growth nevertheless: the region advanced to €2.75bn, an improvement of nearly 6% over 2016. Source considers the Scandinavian countries digital transformation market leaders, and consultancy firms there report almost €1bn sales from this service line alone.
McKinsey have been in the news http://spendmatters.com/uk/crown-commercial-service-paid-mckinsey-10-million-to-identify-procurement-savings/ as having saved the UK Government £800m in costs, in return for a £10m performance-related fee. And some insights into what McKinsey look for in an MBA recruit were revealed on the Poets & Quants website https://poetsandquants.com/2018/05/09/the-mba-summit-what-employers-really-want-from-mbas/ by McKinsey’s Head of Inclusion and Diversity: problem-solving skills, analytical capacity, and “combat readiness” featured, amongst others. Students applying to the firm need to inflect their application to demonstrate how they match these attributes.
Listicles: two ready-made target list of firms to research for students focussing on the healthcare and pensions consulting firms. A “Best Healthcare Consultancies” list has been published by the IgeaHub pharmaceutical club. After polling its members, the top 5 firms were announced as Quintiles, McKinsey, ZS Associates, Accenture and Deloitte The full 25 can be seen at https://igeahub.com/2018/02/04/best-consulting-firms-for-healthcare-2018/. And consulting industry website Consulting.uk has drawn up the top ten UK actuarial and pension consulting firms by size.https://www.consultancy.uk/news/17115/the-largest-actuarial-and-pension-consulting-firms-in-the-uk , the leading five beingWillis Towers Watson, Mercer, Aon Hewitt, Capita and Xafinity.
2017 was a year of strong growth for PA Consulting of the UK, according to the financial report issued by the firm.https://www.paconsulting.com/globalassets/placeholders/documents/reports/pa-consulting-group-report-and-accounts-2017.pdf Sales of technology, innovation and consultancy reached £400m, about half of that coming from the public sector. And PA have added a digital insight and strategy consultancy, Sparkler, to their innovation service line. 60 staff from Sparkler will join PA Consulting’s 2500 consultants. https://www.paconsulting.com/newsroom/releases/pa-consulting-group-enhances-innovation-digital-insight-and-strategy-expertise-through-acquisition-of-sparkler/ Yet another sign of the growing presence of management consultancies in territory previously dominated by advertising agencies.
Data science is another rapidly expanding field of consultancy. Analytics India looks at the requirements of IBM, Infosysand Wipro when they are assessing data scientists. https://analyticsindiamag.com/what-do-companies-like-ibm-infosys-wipro-look-for-in-a-data-scientist/
And some good news for gender balance. CNBC reports on the female leadership team at IBM’s blockchain consultancy. Their pioneering work in the blockchain industry has made the consultancy the sector frontrunner.https://www.cnbc.com/2018/04/16/ibms-blockchain-team-is-led-by-women.html
Finally, independent financial services consultancy Catalyst has just opened an office in Vilnius, Lithuania. This, and other positive news for the firm – trebling its staff numbers, making it on to the list of the best places to work,http://www.catalyst.co.uk/news/celebrating-a-record-year/ is somewhat deflated by the Google sidebar picture which appears when googling the firm https://www.google.co.uk/search?ei=4eP-WpCFOaeKgAaLnq2ICQ&q=catalyst+development&oq=catalyst+development&gs_l=psy-ab.3..0i71k1l188.8.131.52.26601.0.0.0.0.0.0.0.0..0.0….0…1..64.psy-ab..0.0.0….0.r7WRXsCprq0
There are slots available for 1:1 coaching telephone/skype sessions with me on Friday 15th and Monday 18th June. To book a 30 minute session contact me via email@example.com for fees and times. These are open to anyone in, or interested in, strategy and management consultancy.
Do let me know if I can help you or your students explore strategy and management consultancy. I provide sessions on campus and via webinars, and offer 1:1 advice to students and alumni who want to become management consultants. TheAutumn/Michaelmas Term engagement diary is open…
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Management Consultancy Newsletter
Consultancy growth in France and Benelux – BIP acquired – new offices in London for Accenture Interactive and KPMG – Baringa in Sydney – Dizzee Rascal and the Accenture consultant – PwC withdraws from US public sector market while UK government announces more UK contracts – Grenoble MBA and Deloitte Mexico – UK Work Visas – GDPR
Equiteq https://equiteqedge.com/2018/04/05/march-2018-knowledge-economy-ma-and-equity-market-update/ reports that amongst mergers and acquisitions of management consultancies during the first three months of 2018, Italian consultancy BIP www.businessintegrationpartners.com – a mid-sized firm with 2000 consultants in 11 countries (mainly Europe and South America)– was acquired by private equity advisory firm Apax Partners. Apax has been investing heavily in consulting firms over the last few years and this latest deal may indicate further expansion for BIP’s business integration service line. Also featured is Accenture, with another digital media purchase for Accenture Interactive https://www.accenture.com/gb-en/interactive-index . Accenture Interactive is now the world’s largest digital agency. It has just opened a whizzy new London HQ https://www.accenture.com/gb-en/company-news-release-accenture-interactive-studio And just to show that consultants can have many talents, Management Today interviews one from Accenture who became a dancer with UK hip-hopper Dizzee Rascal https://www.managementtoday.co.uk/why-management-consultant-became-backup-dancer-dizzee-rascal/women-in-business/article/1460964?bulletin=mtbulletin&utm_medium=EMAIL&utm_campaign=eNews%20Bulletin&utm_source=20180404&utm_content=MT%20Daily%20(27)::www_managementtoday_co_uk_5&email_hash=
Another firm with a new London office is the Global Family Business Unit of KPMG https://home.kpmg.com/uk/en/home/media/press-releases/2018/03/kpmg-brings-global-family-business-centre-of-excellence-to-the-u.html , which provides family offices and international entrepreneurial businesses with consultancy advice.
Source Global Research www.sourceglobalresearch.com reports on growth in the use of consultants in France and the Benelux countries. President Macron’s win in the French elections has led to an increase in business confidence, which has in turn boosted consultancy spend to €4.5bn. And digitisation is the driver for consultancies in Belgium, The Netherlands and Luxembourg, where revenues increased by over 5%.
UK visa news: immigration specialists at lawyers Lewis Silkin report that restrictions on UK work visas are having an impact on the Big Four’s ability to attract international talent. http://www.lewissilkin.com/News/Sam-Koppel-writes-for-Accountancy-Age-Is-the-accountancy-sector-facing-a-crisis . I have more to say on this on my website, http://www.donleslie.uk/newsletter/ (However, in a more hopeful development, the newly appointed UK government senior minister responsible for work permits, Sajiv Javid, is reported as being in favour of scrapping limits on working restrictions for international students.) The Big Four, though, don’t seem to be suffering that much: Source Global Research says that their UK earnings now top £3bn, and they command almost 40% market share.
And while the UK government puts £2bn worth of work out to tender https://www.gov.uk/tendering-for-public-sector-contractswith strategy and management consultancies, the US arm of PwC has sold its US government consultancy book in order to get more lucrative public sector audit commissions www.accountingtoday.com/news/pwc-sells-its-us-public-sector-business .
Baringa launches in Australia: the firm’s energy practice is spearheading the opening of Baringa Partners’ office in Sydney. Currently the largest energy consulting firm in Europe, Baringa is entering a market currently growing at 5%.https://www.baringa.com/our-thinking/news/baringa-partners-brings-energy-expertise-to-austra/
Lawyer Elena Orozco, who attended my seminar at Grenoble EM last year on careers in consultancy for MBAs, has written to tell me she has joined Deloitte in Mexico, She encourages all MBAs to widen their understanding of business through a spell in consulting.
My former colleague Liz Watt at recruiters BLT www.blt.co.uk is a qualified Executive Coach. http://bit.ly/Coaching16 For anyone seeking a partner who will help them get to the heart of the professional and career challenges that they face, and to work with them to construct their own solutions, I’d be pleased to introduce them to Liz.
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Management Consultancy Newsletter
Produced and kindly shared by Management Consultancy Trainer Don Leslie firstname.lastname@example.org.
Here are some articles related to management consultancy I’ve come across in the last few weeks, and my news, views and opinions about what’s going on in the consultancy sector. These may be of interest to your students and – as I emphasise in my presentations – information like this could spark an idea that leads to a job opportunity.
Consulting trends and financial technology – tips for Bain applications – consulting in the Gulf States – BCG’s Platinion consultancy – regional consultancy opportunities in the UK – more digital transformation – telephone interview glitch
I’ve written in previous emails about digital transformation and the business it generates for consultancy firms. http://www.donleslie.uk/newsletter/ Now Accenture have published a paper on digital disruption, outlining how companies are using technology-driven innovations to create and shape a ‘new reality’ in their markets, threatening incumbents in industries as diverse as health and hi-tech. https://www.accenture.com/gb-en/insight-leading-new-disruptability-index Meanwhile, strategy house Oliver Wyman has purchased two more small consultancies to strengthen its transformation and design-thinking service line http://www.oliverwyman.com/media-center/2018/march/oliver-wyman-acquires-design-thinking-consultancy-8works.html
In recent years professional services firms have been actively courting minority groups. Employee pools have been widened to represent more fairly the societies in which the consultancies operate. Seven major consultancies have joined the LGBT+ coalition Open For Business, promoting a positive economic and business case for equality of opportunity for everyone: Accenture, Boston Consulting Group, EY, IBM, KPMG, McKinsey and PwC. https://www.open-for-business.org/the-coalition/
London is the nexus of the UK consulting industry. For students interested in working in the UK but outside London, the opportunities have been few. So welcome news from RSM, which is increasing the size of its office in Manchester by establishing a new Technology and Management Consulting hub there. IT-led business change and digital strategy will be two of the main service offerings from this mid-sized firm. https://www.rsmuk.com/news/rsm-ratchets-up-technology-and-management-consulting-arm And in Birmingham, EY is expanding its Financial Services team. I had a look on the firm’s careers page: there are 12 jobs currently posted, although most require either previous consulting or relevant FS/banking experience.
Banking and financial services continues to be the biggest fee earner for the consulting sector worldwide. Synechron, the US-owned digital, business and technology consultancy, and European consultancy giants Capgemini, are quoted in a new study about trends in financial technology. The paper covers ten key issues ranging from blockchain and intelligent AI, to design thinking and the cloud https://thefinancialbrand.com/69779/financial-technology-trends-data-ai-blockchain/
For MBAs thinking of applying to strategy house Bain, here’s a link to an interview in the Poets & Quants newsletter https://poetsandquants.com/2018/03/02/how-bain-recruits-mba-talent/?utm_source=Poets%26Quants&utm_campaign=8c82384388-EMAIL_CAMPAIGN_2018_03_06&utm_medium=email&utm_term=0_4c36110279-8c82384388-148761285 with Keith Bevans, a Bain partner who is responsible for the firm’s global recruitment. He talks about “Connect with Bain” http://www.bain.com/careers/events/connect-with-bain.aspx – an initiative which allows MBA students interested in the consultancy to talk informally with Bain consultants. He says “It’s a chance for them to meet with the people from Bain and, more importantly, get to hear about the type of the work that we’re doing and get a sense for what the industry is and what type of work Bain does. We’re not interviewing people during those sessions…but it’s a good chance for them to plant the seed in their mind that this could be an exciting career for them post-MBA.” It’s also worthwhile looking at the blog for Bain consultants, Bain Voices https://bainvoices.wordpress.com/ to get a better understanding of consultants’ working lives.
Boston Consulting Group’s subsidiary BCG Platinion is the firm’s IT architecture and solutions practice. There’s an interview in the online consultancy newsletter Consultancy.uk with a senior consultant from the practice’s Amsterdam office, where he talks about his work. https://www.consultancy.uk/news/16251/interview-ties-carbo-senior-consultant-at-bcg-platinion-western-europe
Strategy and management consultancy in The Gulf: Source Global Research,
http://www.sourceglobalresearch.com/ the leading information provider for the consulting sector, is interviewed by Dubai Eye 103.8, a local talk radio station, about its new report on consultancy in the GCC. An 8% growth forecast for 2018, McKinsey, the impact of MBS, and the NEOM project are amongst the topics. Any MBA considering the Middle East as a destination for consultancy work should listen in. https://www.sourceglobalresearch.com/sites/default/files/Source%20Global%20Research%2C%2015.03.2018.mp3
I wrote a blog at the beginning of the year about telephone interviewing http://www.donleslie.uk/newsletter/page/3/ A student who discovered the piece just a few days ago emailed to tell me about an unfortunate experience. She had arranged a telephone interview with a Big Four consultancy and had booked a room at her School where she could take the call on her mobile….but there was no mobile signal in that part of the building. It pays to check…… You’ll also find other articles on aspects of management consultancy interview preparation on my website.
I’ll be attending the MBA CSEA European Conference in Rotterdam later in the month.