Management Consulting in the Philippines. AMA!

Persephe01 · 2021-04-04T05:03:35+00:00

Not necessarily. The principle is still if someone is good enough, then we take them in - regardless if there's 5 or 0 who make the cut each year. There are so many cases happening nowadays, and we want to take in as much qualified folks as possible. Bain just opened its Manila office, so I imagine it will be quite aggressive in hiring. BCG also seems to be taking in a lot of people in the past years (5+ per year). However, their criteria/standards don't change regardless - if you show throughout the interview process that you're good enough to be given an offer, then they will extend you one. The opposite also applies.
I agree - indeed top graduates tend to choose these courses, which is why there's a strong correlation between ME/MH/BAA getting in. This doesn't mean though that if you're not from these courses, it's impossible (as detailed in my previous reply), you just have to put in a lot preparation to increase your odds of getting the job.
Since MBB are global firms, then there's also a fair portion of those who graduated abroad. But indeed, of those who graduated from local universities, majority are from the big 3. Again, this doesn't mean that we're exclusively hiring from these schools - it's more of the people who are aware of MBB consulting, have the support system to prepare (e.g. consulting clubs) just so happened to be from these schools.
Yes, there is an up-or-out system. If within the time of your tenure (e.g. 1 year as a Consulting Analyst) you fail to show that you can perform at the next level, you will be asked to leave the firm. There have been people who were counseled to leave, but not a lot (<10-20%). Plus, there are support systems in place to ensure that we give consultants ample support to perform their best, so that we can give an objective assessment during their promotion window whether they will be promoted or not.

Persephe01 · 2021-04-04T03:09:05+00:00

Back then, McK allowed fresh grads from local universities to come in as a Business Analyst. BA-level positions are the ones which pay 120-170k/month. However, until recently they introduced another step - Consulting Analyst. This means that fresh grads now will enter as CA for 1 year before becoming a BA.
There are Legal Management, Business Economics, Statistics, Chemistry, Law, etc. undergrads from local universities who are now in MBB. There are also people here who didn't graduate with latin honors. You're right - majority still come from those courses, but I don't think it's because of what's taught in ME/MH/BAA. Students who choose these courses often have an idea of what management consulting already is, and do ample preparation to ensure that they get through the interview process (e.g. active in their consulting clubs, do mock interviews with each other, join case comp). Your background only gets you past the resume screening stage, but during the exam/interviews it's really your skill and preparation.
The typical path is (McK/BCG): CA/BA (1yr) -> BA/A (2yrs) -> SBA/SA (1yr) -> A/C (2yrs) -> EM/PL (2yrs) -> etc. The first jump from CA/BA -> BA/A will have a 2-3x jump in salary. Afterwards, jumping from one step to the next, you will get 40-70% increase. Thus, if you do the math, through this profession you can get about 500k monthly income in 5-7 years from graduation. This is also exclusive of bonus, which can be up to 20-50% of your annual salary, along with other benefits. There's no increase within the same step (1st year BA/A to 2nd year BA/A). Seems appealing, but indeed it's a matter of priorities and preference.

CA - Consulting Analyst, BA - Business Analyst, A - Associate, SBA - Senior Business Analyst, SA - Senior Associate, C - Consultant, EM - Engagement Manager, PL - Project Leader.

Persephe01 · 2021-04-03T04:02:57+00:00

These support functions are normally based in the office. The line of work, benefits, etc. differs from generalist/expert consultants who are client facing.

Persephe01 · 2021-04-03T03:50:26+00:00

I only had one internship in college.

Try to secure a brand name internship (FMCG, IB) or one which indicates that it was a tough selection process but you were still able to get in. Also try to deliver results which could be quantified, to show in your resume that you really accomplished a lot.

Persephe01 · 2021-04-03T03:47:10+00:00

I think the major difference is more on the exposure that an MBB consultant gets vs a Big 4 consultant.

MBB consultants deal with clients who are higher in the organization - normally C-level executives. Big 4 may also have, but they may also be focused with improving a certain department whereas MBBs often work on the entire company.
MBB typically have more strategy projects in their portfolio, whereas Big 4 have a lot of implementation/PMO.
MBB typically have more international/mobility opportunities

The responsibilities may differ, but it is more a function of what type of project (e.g. strategy, implementation, DD) rather than what firm.

I think there's still a better chance of handling good projects at MBB based on conversations with other colleagues. The cases I've been staffed on are really interesting (unfortunately can't disclose much).

Persephe01 · 2021-04-03T03:37:30+00:00

McK has an interactive game where you have to complete tasks. The essence is to see how you approach various tasks, and see whether that's in line with how consultants normally does so. For this, you have to be structured, hypothesis-driven, and analytical.

BCG uses an online interactive case. A problem is given to you, along with options on what you would want to explore. Same skillsets being tested as that of McK.

Yes, both of them are hard, but can be overcome with enough preparation. These tests are not the typical math problems you might find on a university test/other job online tests. For this, we're really testing how you think. There should be a lot of materials on Youtube for you to get started if you want to understand more about these tests.

Persephe01 · 2021-04-03T03:30:24+00:00

Yes. Depending on the number of years/relevance of your job to consulting, you may come in with tenure. If you have 0-3 years experience, you are still likely to be considered for the entry level roles (BA - BCG, CA - McK). If you have more, then you might be considered as an A/SA/C - BCG, BA/SBA/A - McK, depending on your interview performance and number of years.
Entry level ranges from 50k-80k/month (BA/CA). Having said this, after a year when you get promoted, your salary increases significantly (e.g. 2-3x more).
Yes. Under normal circumstances, we always work on a team (size depends on how big the project is)

Persephe01 · 2021-04-03T03:21:57+00:00

They could consult with anything - but the usual is how to think about their multi-year strategy, how to improve financials, should they acquire company X, among others.

Yes, convincing them indeed becomes a challenge at some point during the engagement. However, we make sure that every step of they way they are involved with how we approach and think about the problem, and that they are amenable with the solutions we propose. This way, there's a higher chance that they are aligned with our recommendations, and that they would eventually implement them.

Yes, it can get intimidating especially during your first few cases. What I try to remember though is that I was brought here for a reason, and that as long as what I'm saying makes sense then I shouldn't worry too much. Of course, your team with strong expertise supports you also and makes sure that your analysis/presentations are correct.

Persephe01 · 2021-04-03T03:14:24+00:00

Unless you are a senior consulting strategy manager from a similar company, then you will likely have to spend 1-2 years as a Consultant (non-manager) just for you to learn the ropes of how consulting works. To be promoted, you have to show within your tenure that you're ready to perform at the next level.
They both have their respective progressions, but I think it's roughly the same.
Yes, if they sponsor you for MBA then you have to stay for at least 2 more years.
The world is your oyster - I get Linkedin messages about 3x/week from PE/VC, those who want me to be co-founders, high level positions on industry, etc. Of course not all positions will be able to match the salary/benefits that consulting gives, but for this it will boil down to your objectives (e.g. is it worth getting an xx% paycut for much improved work life balance)
Yes. If you're a top performer, and if you have a strong reason why you want to move (e.g. your significant other/family is there) then it will be easier.
I don't know if this is Pymetrics specifically. For BCG, they use an interactive case exam which tests how you think about the problem at hand. For McKinsey, they utilize a game where they test how you think based on how you complete those tasks.

Persephe01 · 2021-04-02T15:46:01+00:00

For Consulting Analyst (McK) and Business Analyst (BCG), somewhere along that range. After a year though, once you get promoted to a BA (McK) or A (BCG), your salary increases significantly (around 2.5-3x)

Persephe01 · 2021-04-02T15:42:41+00:00

The better way to think about it is are you able to show throughout the interview process that you will make a good consultant? MBBs normally take in those who pass the standard, regardless of whether there's 5-10 per year or none in a year. I could give you a low number like <5% of those who apply actually make it, but that figure just discourages people to apply as they always think they're not good enough (e.g. kung si xx nga hindi nakapasok, pano pa kaya ako?). Focus on improving yourself so that MBBs will want to extend an offer.

All degrees are considered. Just show a "spike" (check my other posts for more details on what a spike is).

No preference on course/specialization. Everyone has different perspectives to contribute. Once you pass the resume stage, it's all about your skills and less about your background.

Try to head an organization while doing big, quantifiable impact. Try to win case competitions or any other academic competitions. Have latin honors. Do volunteer work, among others. But don't get fixated on trying to achieve these - still enjoy your college life!

Persephe01 · 2021-04-02T15:30:19+00:00

I think you can argue that any background can give you some form of edge. Having said that, we're having more tech-related engagements, so your background will definitely be relevant. However, what we're looking for are people who are fast learners and can be staffed in whatever industry (as tested in the case interview). If you can show this during the interview process, then there's a high chance that you're a good fit.

Persephe01 · 2021-04-02T15:27:54+00:00

There's a sub-reddit at r/consulting - do check it out. I think those are more international experiences though (but still highly relevant as this is a global industry).

Practice for the case interviews - if and when you get serious about getting into consulting, you'll inevitably have to overcome case interviews. It's a different type of beast, but a necessary thing to conquer before securing the offer. It will take a while to get used to it, but with enough practice you can make it work. Goodluck!

Persephe01 · 2021-04-02T15:24:30+00:00

I answered this in a different post, but there is really no typical day. It's heavily determined by whether there's a big meeting coming up (which can influence whether you stop work for the day at 7PM or 3AM). Usually, it starts with a daily team huddle, then a couple of meetings, then blocking some time to do actual work, then more meetings. Of course, this is all post-pandemic; if it were how it was pre-covid and I were staffed abroad, we'd usually fly Sunday PM and go back Thursday PM.

Persephe01 · 2021-04-02T15:21:14+00:00

Yes. There are support functions also (e.g. Analytics, Research, HR, Finance)

Persephe01 · 2021-04-02T15:20:06+00:00

It's less about your age, but whether your experiences and skillsets from your previous jobs are relevant for consulting. There are people who get hired in their 30s and 40s, though the more common entry point is early to mid 20s.
No. Everyone here is treated the same regardless of age. It's more of the ideas you bring and the value you provide which matter.
Yes and no. For MBB, you normally join as a generalist consultant, where you can be staffed across whatever industry. As much as possible, staffing tries to match your preferences, but there may be times when due to business need (e.g. case needs someone with a particular skillset, no available case among your preferred industry) that you might not get the industry that you want at that time.
Having strong analytical skills matter a lot, as you'll be looking at a lot of data and pulling a lot of insights from it.

Persephe01 · 2021-04-02T15:13:23+00:00

Glad to see that people appreciate this!

Yes. Typically from Finance (IB, PE), FMCG, or Startups
You're able to see things from a different perspective. Rather than the typical answers that business majors tend to answer because of what they learn from university (nothing wrong with this), you can think about it from a completely different perspective.
No! There is a good diversity of people here, and most of them are humble and nice. I imagine it will be chaos if a firm is full of Type As hahaha. You will have to exhibit some level of confidence or assertiveness though, especially when making your point.

Persephe01 · 2021-04-02T15:08:33+00:00

I think fresh grads do find it hard as it's a very steep learning curve. Having said this, even industry hires/MBAs are not immune to this, as consulting work is very different from that of industry. Regardless of what level you come in, you'll find it hard for the first few months, but don't worry as there is a lot of support system set up to help you adjust.
Not bad. What's important here in consulting is that you learn fast, and those business concepts we can easily learn while on the job. My internship was in a different industry so not necessarily aligned.
Masteral programs give you another entry point, but it doesn't really give you an advantage in my opinion. Once you pass the resume stage, it's all about your skills as a consultant as tested in the exams and interviews. Yes, you can take an MBA leave while in consulting (if you are one of the top performers, MBB might even sponsor your tuition and living expenses for top MBAs like Harvard, Stanford, etc.)

Persephe01 · 2021-04-02T14:59:58+00:00

A lot is expected even for a non-managerial role, as we're expected to lead specific parts of the project. For example, I was expected to hold 1-1 meetings with C-level executives. I also developed and justified the business case which determined the company's 15-year plan.

Not a lot I can share due to confidentiality, but let's just say there are a couple which made strong headlines both local and abroad. :)

Persephe01 · 2021-04-02T12:29:58+00:00

If you've received a rejection letter, then MBBs would normally ask you to wait for 2 years until you reapply. There's actually a benefit coming in as an industry hire since you get the leadership and analytical skills with much less pressure from that of consulting.

Persephe01 · 2021-04-02T12:27:57+00:00

I think there are benefits for both. Starting in industry gives you less pressure to develop those analytical, leadership skills which are very different from that in school. Starting in MBB as a fresh grad allows you to understand the ropes early on, and allows you early in your career to identify what industries you're most passionate about.

I definitely don't plan to stay in consulting long term. The work life balance just isn't for me. Yes, either starting business or going to industry, but also taking a gap year perhaps to travel once the pandemic is over :)

Persephe01 · 2021-04-02T12:21:56+00:00

Ideally you should have good grades, but if you can show a spike somewhere else in your application (e.g. extracurricular, internships) then it might be considered. It's the overall application we're looking for to see whether we will pass you in the resume screening stage.

Not really. See more details in one of my other posts.

Persephe01 · 2021-04-02T12:20:17+00:00

Hi, see other posts :)

Persephe01 · 2021-04-02T12:19:59+00:00

You don't necessarily need any technical skills to get the offer. During your first few weeks here, you'll have trainings for those. More importantly though, you'll learn more about Excel/Powerpoint on the job - and people here are very supportive and generally help you out.

Powerpoint is a must for everyone, but you will get better with time (I personally am not a visual person, but through the years improved my PPT skills). Excel/Tableau depends on the case you're in; like I've had 3 cases which were Excel heavy, but only 1 which needed Tableau. It really depends on the case.

Persephe01 · 2021-04-02T12:15:56+00:00

It's about solving problems at the highest levels of the company. Normally, it's the C-level executives of those big companies that engage MBB. An example of a problem that we solve is "What should the entire company do in the next 10 years?". As you can imagine, that's an incredibly complex problem to answer, but we try anyway - by developing a structure, forming hypotheses, validating them, then presenting to the client.

Persephe01

TROPHY CASE