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? Big three consulting firms announce MBA Hiring plans for 2021 - read the full article about it consulting 2021, IT Consulting and from e-GMAT on Qualified.One
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Hey guys. Welcome to this video and welcome to our youtube channel. For those of you who know me and then look at me and say hey Rajat what the hell, why are you wearing a suit? The very simple reason that, today well talk about consulting and if youre a consultant i read somewhere that youre supposed to wear a dark suit thats kind of supposedly in Mckinseys dress code or so. I dont know how much its true but i read about it somewhere so well talk about this. With that lets just minimize this video and and talk about the big three. So if youre going for an MBA youve heard about the big three - Bain, McKinsey and BCG. I just read an article on MBA.com where but they talked about these big three are planning to increase their MBA hiring by record numbers and the class of 2021 you know the number of MBAs would be hired as consultants most likely will be the largest ever.
just to really tell you a bit about it. So first of all, what will we cover in this video well talk about what are these hiring plans, then well talk about which schools you know do they hire from and what are some of the top schools where they hire from again they hire from. Pretty much all of the top 15 top 20, but which schools do they particularly hire from. How many MBAs do we think would be hired in for the class of 2021 and essentially just a bit about these firms as to how big these firms are and just where do they stand, how much have they been growing up every year. So with that lets get started with some of these codes so to really just understand the scope of this hiring. I have the respective directors of hiring for each of these firms. So Brian Rolfes from McKinsey says weve increased our recruiting goals and anticipate in 2021 that well have the largest incoming class.
All of this is courtesy of mba.com and BusinessBecause. Keith Bevans echoes a very similar sentiment. Hes from Bain. He says he plans for the campus interview to be the largest it would be for full-time interns and Amber Grewal whos from BCG and let me actually move my video so you can see her she says that theyre planning to use technology and the firm is planning its biggest-ever hiring year. Again you know if you are someone whos graduating if you are planning to apply its good news. I mean think about it the the the economy is heard back over and the firms that charge for $500 an hour and essentially hire a number of MBAs probably account for about 20% to 21% of all MBA record recruiting from top schools, theyve increased their hiring plans and are planning to have their biggest class ever. So with that lets just talk about where do these people hire from and again as i said they pretty much hire from all of the top 20 or so but essentially, if you look at one of our articles top schools which would you can you can uh look at it in the top right hand the corner youd see from a percentage standpoint. Tuck 40% of its class goes into consulting. Harvard in a fairly large chunk, Kellogg, Duke, and Columbia. Each one of these is a fairly significant proportion of their class goes into consulting. Again pretty much all the top three go over there. Now it doesnt mean Tuck sends more MBAs to these firms than Harvard. So you should just look at these numbers. Tucks is a much smaller school, Harvard is the largest of these schools arguably I think Harvard sends more MBAs to consulting than tuck does but i mean Tuck has had this impeccable record and if you plan to go into consulting you know any one of these schools would do but Tuck has a a beautiful curriculum that plans you to become a consultant. You do multiple internships during those two years. Not just the internship that you have between the first and second year.
Now talking about internships you know consulting pays really well once you graduate but consulting also pays really well when youre interning. This is again some stats same schools and again when you go to the article these are all links you can really see the sources over there. Let me make the font a bit bigger over here i cant make it but essentially you know if youre interning and making 13 and a half grand a month, thats pretty good money over there. So with that lets talk a bit about the big three. Lets see what is it that the big three do. let me get my notes we do need some notes. So we call them the victory because they are big but the biggest of them is McKinsey and the 2019 revenue was about 10.5 billion dollars. Now BCG arguably very similar in revenue 8.5 billion dollars and Bain company the smallest of the larders, but still 4.5 billion dollars in revenue. Now with regards to the growth rates theyre not uniform. Mckinsey from what we see, what I know of about growing about five to seven percent growth rate over here. BCG and Bain theyve been growing at that double-digit growth rates. I think from a growth standpoint both BCG and Bain are plus over here but all three of these firms are big firms McKinsey is known i mean if you look at poets and quants theyre rated number one but just in terms of growth rates over here. So how many consultants do they hire? Last year McKinsey hired 1500 consultants. Not all of them are MBAs about one-third of all consultants that these firms hire are MBAs so arguably about 500 MBAs or so. Bain had about 700 consultants again Im saying about one-third in b-school. Youre talking about that 230 to 240 number. I couldnt find a number for BCG but you know if you were to just do a linear interpolation, say about you know a thousand to eleven hundred overall consultants and again, about a third of the MBA so a fairly significant number of of of MBAs. If you consider that you know the majority of these MBAs are hired from the top 25 schools. Thats huge. A number of mbas over here. So to summarize if youre looking at consulting as a career if thats the reason why youre going into into the b school really great news for you. If you want to explore consulting it seems there are plenty of opportunities out there it. Seems to, I mean its always paid well and it seems that its going to pay well, to continue to pay well too and so overall good news for not just for consulting but for overall MBA hiring, I mean. Because this just shows where the economy is going and and firms that hire consultants not higher I mean they that firms that pay BCG, Mckinsey, and Bain. To get consultants to work for them on an hourly basis or a project basis they also in turn hire MBA. So I think MBA overall really good news for overall MBA hiring as well now. If you like this article you know Im just the guy whos in front of the camera all the script. Pretty much everything was done by Lekhika so shes the one to credit like this video. If you like this article. With that thank you very much and man this suit is getting to be itchy. so yeah I dont know how MBS do it but for those of you who want to be MBAs good luck it seems lots and lots of jobs in consulting and you guys are in for an amazing ride. Happy learning
e-GMAT: ? Big three consulting firms announce MBA Hiring plans for 2021 - IT Consulting