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 we'll talk about consulting and if you're
a consultant i read somewhere that you're supposed to wear a dark suit that's kind of
supposedly in Mckinsey's dress code or so. I don't know how much it's true but i
read about it somewhere so we'll talk about this. With that let's just minimize this video and and
talk about the big three. So if you're going for an MBA you've 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
we'll talk about what are these hiring plans, then we'll 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 let's 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 we've increased
our recruiting goals and anticipate in 2021 that we'll have the largest incoming class.
All of this is courtesy of mba.com and BusinessBecause. Keith Bevans echoes a very similar
sentiment. He's from Bain. He says he plans for the campus interview to be the largest it would be
for full-time interns and Amber Grewal who's from BCG and let me actually move my video
so you can see her she says that they're planning to use technology and the firm is
planning its biggest-ever hiring year. Again you know if you are someone who's graduating
if you are planning to apply it's 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,
they've increased their hiring plans and are planning to have their biggest
class ever. So with that let's 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 you'd 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 doesn't 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 you're 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 can't make it but essentially you know if
you're interning and making 13 and a half grand a month, that's pretty good money over there.
So with that let's talk a bit about the big three. Let's 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
they're 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 they've 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 they're 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 I'm saying about one-third in b-school. You're talking about that
230 to 240 number. I couldn't 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. That's huge.
A number of mbas over here. So to summarize if you're looking at consulting as a career
if that's the reason why you're 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 it's always paid well and it seems that it's 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 I'm just the guy who's in front of the camera all the
script. Pretty much everything was done by Lekhika so she's 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 don't 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