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For many years in the past, there used to be very few straight roads to get into the upper levels of the consulting industry. One would usually start off with college followed by a job or two for experience, and then jump onto any opportunity to get into a business school where the management career truly begins. After all, it was the only avenue where one could connect with the big leagues of the industry.
However, over the course of 10 years, this system has been rapidly changing. Once upon a time, consulting firms only need a bit of persuasion to send young MBAs career jetting around the world. According to them, it used to be the best route to take compared to what other investment bankers do.
But sadly, it's a whole different story today. Consulting firms are now facing various issues from Silicon Valley competition, 4% unemployment rates, and stricter rules on employment visas. It's undoubtedly a lot more challenging to draw the talent they need out of B-Schools. And so, consulting firms had to discover a new solution to this problem. If you've been following the industry closely, you may have noticed that firms have started hiring out of undergrad programs instead.
In fact, according to a report from efinancialcareers about 15% of the 2018 graduating class of Harvard Business School already have consulting experience. This comes off as a shock to many especially since Harvard used to be the prep-school for consulting in the past. But now, it seems that a background in consulting is becoming a prerequisite in order to get into HBS.
What's more interesting is that according to that same report by efinancialcareers, there is one consulting firm that stands out among HBS students. Some may even believe that this is the go-to solution for anyone who wants to get into Harvard Business School.
7% of Harvard's intake is actually alums of a firm called Bain & Co. This includes 38 former full-time consultants and 29 summer associates. According to efinancialcareers, they've used Bain's networking tool to gather such information. It seems that this consulting firm offers some form of network for Bainies to gain recruitment information. Their database also holds a list of contacts that might help give Bain & Co alums the introduction they need to get into the industry.
It's also surprising to note that Harvard isn't the only campus that's filled with Bainies. Business schools at Stanford, Chicago, Wharton, Booth, and Northwestern also have former Bain consultants and summer associates as part of their 2018 intake. So does this mean that this firm can help you get into the business school of your dreams? Perhaps. We'll let the results and figures speak for themselves.