There’s no doubt that a career in consulting is a top draw for many MBA grads. The median pay for a management consultant in 2015 was $81,320 and for an MBA grad from a top school, that median pay jumps up to $120,000 (at least for Foster School grads).
Let’s face it; with starting median salaries in the low $100K and sign-on bonuses of $25k, it’s an attractive field.
However, regardless of the pay, management consulting is a highly sought after career. At the Kellogg School of Management, 35% of the 2015 graduating class entered the consulting industry, more than any other industry.
It’s attractive for many reasons, including the opportunities for travel, exposure to C-level executives, and the high-powered network of individuals who you’ll work beside.
Why You Should Work at Bain & Company
Bain & Company is one of the world’s leading management consulting firms. Headquartered in Boston and founded in 1973, Bain & Company frequently lands on the Best Places to Work list from Glassdoor.
In fact, in 2016 not only was it the second best place to work, but it also had the highest rated CEO. You can also frequently find Bain & Co on the Vault Consulting 50 in the number one or number two spot for the seventh year in a row.
But their awards aren’t the only reason that Bain & Company is a great company to work for in the consulting industry. It also has to do with their commitment to attracting and keeping quality talent. They’re recognized as being one of the best places to work for LGBT equality as well as a great company for working mothers.
Listen to what Bain & Company employees have to say.
- “One of the things that is great about my job is that no day is like any other.” —Lori Estiverne
- “You are empowered and accountable, but you are not alone. And the best part is that you can’t fail. Because, after all, what all those people are reinforcing is that Bainie never lets another Bainie fail.” —Glassdoor Review
- “Great culture, with excellent opportunities and training options (including sponsored MBA).” —Vault.com Review
Getting a Job at Bain & Company
Gaining a position at Bain & Company will not be easy. The initial screening process can include as many as 3,000 applicants with just around 100 making it to the first interview. So that means that only the top 3% even get an interview, and then you still have to get the job from there, according to Management Consulted.
However, if that doesn’t deter you, and you still want one of the coveted positions, then, according to Business Insider’s interview with Keith Bevans—Partner and Head of Bain & Co’s Consultant Recruiting—you need to demonstrate five key characteristics:
- Analytical Skills: Bain looks for significant analytic capability and the ability to solve complex problems, which should be a skill that every MBA has.
- Communication & Leadership Skills: Successful candidates can explain concepts clearly in a way that motivates.
- Team Player: Bain is a company that is committed to the success of every member of their team.
- Passion: Bain wants individuals who are passionate about what they do and are able to enthusiastically go after their dreams.
- Humility: Bain looks for individuals who know their strengths and weaknesses and are willing to coach and be coached.
MBA Programs Offered at Bain & Co
The Diversity Pre-MBA Program at Bain aims to attract Black/African American, Latino/Hispanic, and Native American MBA students interested in learning more about a career at Bain. It’s an action-packed two-day event held in New York that offers seminars, networking events, tips, and more.
The Summer Associate (Intern) Program is for first-year MBAs, who want real-world experience in consulting, particularly at Bain. It’s a 10-week intensive internship that gives MBAs the opportunity to tackle complex business challenges, work closely with full-time consultants, and to work with clients from Fortune 500 companies, midsize firms, nonprofits, and startups.
Is Bain & Co Right for You?
If you’re still unsure about getting a job at Bain & Co, then you’ll want to take a look at a “day in the life” of Olivia Brown a consultant in Bain’s New York Office. Olivia joined Bain in 2010 and revealed her daily duties in an interview with efinancialcareers.
- 8:35 a.m.—Leave the gym.
- 8:45 a.m.—Head into the office, check email, review alerts, and grab some breakfast.
- 9:30 a.m.—Work with a second-year consultant for a check-in. Set up a meeting room for sales force sizing model. Prepare for 4 p.m. client visit.
- 10:00 a.m.—Review working materials for 4 p.m. meeting. Put together PowerPoint slides for the meeting.
- 12:00 p.m.—Meet Manager for lunch and de-brief.
- 1:00 p.m.—Back at desk, review emails, and revise sales force numbers from 9:30 meeting with the second-year consultant.
- 2:00 p.m.—Head to partner’s office and work through working materials for a current client.
- 3:30 p.m.—Head to client’s office for meeting.
- 4:00 p.m.—Meet with client and present the team’s analysis alongside manager.
- 6:00 p.m.—Back at the office for a debrief.
- 6:15 p.m.—Prep for the next day and week.
- 7:00 p.m.—Out the door for dinner with a mentor.