Show me the money! Convocation is intangible and invaluable; however, placements are the real deal with tangible values attached to the outcome. Job placement is the ultimate showdown that all students wait throughout their tenure at Business School. Any knowledge is worthwhile only when it fetches a fair market value or enlightens other minds. B-school placements offer a clean slate start, by letting candidates jumpstart their careers in management jobs or glide up to leadership roles.
Many candidates are able to switch industries through management roles, such as product and project management roles that focus on managerial skills and strategic thinking. Despite this fact, there are certain roles, specifically in Consulting and Finance, that have much more pre-MBA weightage, especially for experienced candidates.
To understand this, one has to understand the HR perspective towards recruiting from any tier-1 or premier B-school. Candidates with 4+ years of work experience are typically classified as experienced, while the younger candidates are treated as fresh’ers’. The later is considered as raw and mouldable high-intellect candidates, while the former are treated as high-intellect but with previous baggage who require unlearning, re-learning, and re-skilling. This entails certain indirect cost; moreover, as experienced candidates need to be offered senior positions, it amplifies the cost and risk posed by dynamic environments in consulting, IB, and PE.
Moreover, the skillset necessary for consulting (XLS and PPT) is not usually the kind of experience people gain while working hands-on in the industry. The ability to learn quickly, structure thoughts, articulate narrative, and explain information – may sound like fundamental skills – are absolutely in consulting but not quite important in the industry. As long as a candidate is able to signal that they have these skillsets, using extra-curricular means such as paper publications or conference presentations, it should not be difficult to assure the recruiters. Also consulting cases, which are a part of the interviews, are meant to test structured thinking, pace of understanding, and problem solving skills.
The raw-mouldable intellect are sought after by the consulting firms, especially the MBBs. Whereas, it is more challenging for experienced candidates to get in to consulting despite their knowledge and subject matter expertise.
However, there are ways to overcome these shortcoming with certain experience and qualifications. Experienced candidates who have worked in set-ups such as Investment Banking, Private Equity, Strategy Departments, or Consulting Firms, are easily able to convey their suitability, while others need to unearth experiences such as Business Transformation Projects, New Initiatives such as Supply Chain Development or similar that host environments comparable to the dynamism of consulting. Furthermore, relevant professional certifications such as Six Sigma Black Belt can provide necessary signalling.
However, such consulting jobs for experienced candidates are usually specific to previous industry, as the candidates possess inside information about the industry. For instance, candidates experienced in operations and supply chain have good odds of getting into roles at boutique consulting firms or picked by Big4 partners working with industry clients. Whereas, candidates with professional certifications, such as the CA-CFA combo, will easily land jobs in Finance, Consulting, Investment Banking, or Private Equity, as their roles are usually industry agnostic; perhaps offering them the greatest odds to crack these roles.
PS: Consulting jobs are tough with an intense learning curve, making it sought after for younger candidates. But whether to return to consulting Post-MBA is debatable, as these roles require much more energy and discipline compared to most other industry jobs. However, the pros include being able to work with the best talent and always finding enough challenges as well as brain tickling material at work.
Feature image photo by Kelly Sikkema on Unsplash
Savvy Munshi 