MECE is every consultant’s favourite principle. It is the chief characteristic of every slide, conversation and thought for a consultant. MECE means mutually exclusive and collectively exhaustive. It is designed to limit the number of uncoordinated project parts, make sure everything is covered and ensure that nothing is covered twice. Barbara Minto originally coined the …
Everyone knows what strategy means but what purpose does it serve for businesses and more specifically, for consultants? This article is designed to help consultants think about this purpose of business strategy and consider some of the ways they might improve existing strategies. I looked at this question briefly in our analysis of management v …
We get asked a lot about salaries in consulting. Contrary to popular belief, they do not resemble the salaries found in investment banking. That is, at least until you reach the very top. As you might have guessed, there is not much data on this. Consultants are particularly unwilling to talk about what they earn, …
The exit opportunities are one of the biggest attractions to working in consulting. Exit opportunities are broad and plentiful. Although consulting lacks the sky-high salaries of investment banking, it offers just as much of a career booster. Although exit opportunities from MBB are famously the best, they are fantastic after working at any strategy consulting …
Over the last three years, McKinsey has developed their ‘Digital Assessment’ with the help of Imbellus. This was initially presented alongside the PST. More recently, it has completely replaced it as the preliminary application assessment to test logic, innovation and clarity of thought. Since its inception at McKinsey, BCG has developed its own pre-interview test …
We get asked about the differences between strategy and management consulting a lot. As a broad rule, strategy and management are roughly used in the same way. More often than not, strategy and and management are interchangeable in consulting cover letters. However, there are actually some important differences, but it often depends on the context. …
Consultants use a lot of jargon. It only takes a few weeks in the industry and you will be using every abbreviation and piece of insider vocabulary in the business. From “top down” to “boil the ocean” to “deep dive”, consultants have a shortcut for everything. These phrases are used across all sorts of consultancies …
Everyone was new once. For many of you, that first day is still to come. In this blog post we have compiled some things that lots and lots of young analysts do. Some are avoidable if you can get your ahead around them. Others you will probably notice yourself doing anyway. Hopefully you can avoid …
Managers in consulting come in all shapes and sizes. They naturally have different styles and the junior consultants who are best at adjusting to them often have the most success. Of course, when you get to the very top of a consultancy or any other organisation, managers tend to be good. Partners are partners because …