Are you planning to join Consulting as well? Good news - I prepared a Consulting Interview Preparation Checklist that you can use to prepare for your next interview. You can download it here (yes, for free!): link.firmlearning.com/checklist
Thank you Heinrich for another very valuable and practical lesson to move into consulting industry. I think along with the leadership, industry knowledge, culture ,travel exposure and range of opportunities, mentorship and learning which is there every single day with every new project. We also get to do things to keep challenging our thinking, pushing our self and problem solving working with the top brains and this helps me a lot when I have to make a decision in any kind of situation. So fully agree it's a great career choice but also very demanding career choice with high reward. Thank you again for sharing your insights very helpful always.thanks again
Yes, fully agree! It really is the diversity of tasks and activities that keeps the job exciting. Every day is a new challenge, which keeps it interesting but also demanding. Best! Heinrich
Thanks for the content, that is really valuable! I'm going to graduate from University the upcoming June and my first job in Consulting starts in July at KPMG in Austria! I'm really looking forward to it!
Great content. Good reasons for why to join consulting. Will make me think about my career choices after graduating from University! Especially the reason on different leadership styles makes a lot of sense to me. Keep up the great work!
Thank you so much for everything you share. Would love to learn more on moving to consulting for experienced hires especially for someone with 5-10 years of experience only in product companies/in-house.
I'd really love to know what you think are the downsides to start as a consultant after graduating. Your videos are great. Though I'm not graduating most likely in the next 2 years, it's highly interesting to listen to what you have to say. Keep up the good work!
In my oppinion the biggest downside is that in the first year there is little you can do to affect your utilization, which often is the most important KPI for promotion / bonus. Either you're lucky and directly land on a project or you sit on the bench for a couple of days or even weeks.
Heyy Heinrich, as a new consultant just recent graduated from my university I join Deloitte and I have been watching your videos, they are really helpful thanks!!
I am trying to decide between joining a major FMCG firm or a boutique business and tech consultancy firm! This video really helped my decision, thanks :)
Can you please do videos that includes: Communicating with your manager, Client CEO presentation preparation, How to deal with difficult clients (rude, aggressive, or resistant to change), how to deal with imposter syndrome when you’re fresh graduate or generally young
Hi Elle, thanks for your comment. Have actually already touched on many of these topics in prior videos (just check the video library on the channel). But definitely much more to be said about this - stay tuned for future videos! Best, Heinrich
Finally i found you. Im a consultant for firm strategy. Thanks for gave me a deep look perspective bout how good as a consultant. Fyi after graduated i join to consultant firm, not top 5 consultant but still consultant firm haha
Would like to hear your opinion on firms like the big4 accounting firms. Do you think it is a viable way to start or is auditing too specific as a start in your opinion?
Thanks for the video Heinrich, that was very insightful. I'm a recent MBA graduate who is looking to transition from a Mechanical R&D Engineering/Technical Consulting role into Management/Strategy consulting. Granted your view may be a bit biased would you recommend an MBB firm like you joined as opposed to say a Tech/IT firm like Accenture or perhaps joining Strategy Team at a Financial services-based firm like EY, Strategy&(PwC) or Delloite or perhaps even a smaller firm like A.T. Kearney which may have better work-life balance? Apologies if you already have a video on this.
Hi Willem, thanks for watching and your comment! I have a video on Management / Strategy Consulting vs. IT Consulting, based on my experiences having worked at Accenture and McKinsey. For me it would be very clear that I would (almost) always pick an MBB firm over all the other firms that you are mentioning. In the end, you can also do IT or Financial Services projects at MBB, with all the benefits that MBB offer (higher salary, better network, better exit opportunities etc.) Of course, the other firms will offer you great opportunities as well though. Best! Heinrich
Hi Matthew, thanks for the feedback! Yes, in the newer videos I already started to insert the chapter structure in the video description and will continue to do so. Hope this will help get an orientation of the different key sections. Best! Heinrich
Would be great if you could make a more detailed video of what each of the tasks a consultant does please. New to your channel so if there are any videos for this let me know!
Hi Heinrich, thanks for your sharing. Would you be able to shed some light (in perhaps a new video) on entering consulting for people who are experienced hires i.e. Have some years of work experience in an industry, and then moving into consulting? Thank you
Hi Kenneth, yes this topic sits on my idea list for future videos already for quite some time. Will for sure do a video about this at some point! :) Best! Heinrich
Thanks Heinrich.. is it easy to get into management consulting firms in a senior position if one is already a senior consultant at a Technology firm? I work as a Strategic/Executive consultant developing different types of strategies for clients that exclusively use our tech. I do like the overall approach and richness of the methodology and models employed by the reputed management consulting firms and see that as an area of growth for myself. Interested to know of your thoughts in this regard.
Hi, yes as an experienced hire you should usually be able to get into a Senior Associate role equivalent in consulting (of course assuming the rest of your profile meets the requirements). Best! Heinrich
Thanks for all of these fantastic videos Heinrich! I got a question that I hope you can answer: As somebody with an engineering degree and PhD currently in an engineering consultancy role, what would be a good approach to transition to management consulting?
Hi Razvan, would probably try to do as much conceptual / strategic work as possible instead of super tech / ops topics in your current role. This will then usually be perceived as more relevant work experience and will help you to make the transition. Lots of success to you! Best, H
I’m actually a bit sad you excluded Banking. I did an internship at a german T2 consulting firm this year but I’m also super interested in finance and I love reading books about it. But I’ll just try to do an internship in IB and one at MBB next year and make up my mind.
Hi Moritz, absolutely, trust that Banking contains lots of opportunity and learnings for young graduates. Indeed optimal that you do internships in both industries to see what works best for you! All the best - Heinrich
Thanks for the video! Very informative. I would like to know if it's possible to be a consultant without a business related degree? I studied Literature and now I want to do a master degree in Management. I would appreciate your opinion. Thanks in advance
Hi Heinrich, last year before the pandemic start, I plan to take an MBA and switch my career into consulting. In your perspective, is consulting still a promising career during this pandemic or in the future?
@@FirmLearning Do you know whether major consulting companies (like MBB) still actively search for new recruits or do they tend to freeze or hold their recruitment during these pandemic?
Yes, while you do travel to cool destinations and stay in great hotels for many projects, the reality is that often you do not really have the time to make good use of them. Sometimes you also have projects in the middle of nowhere. Whether you fly business or eco for domestic flights depends on your office. Overall why I did make many great travel experiences, today I would prefer a job without travel (but it also did not bother me too much to be honest). Best, Heinrich
Thank you Heinrich for insights about the functions of consulting industry.I appreciate it. I am from india and i am aspiring for roles in german or french offices.Will they accept me if i have language proficiency or requird s
Hi Anitesh, Thanks for watching! The last part of your question seems missing, but I assume it is about what level of local language skills you will need? While this might of course deviate firm by firm, most firms will require you to have "business fluency" in the local language, especially for client facing roles. If you have a special technical skillset to offer that is in demand, you might get away with sub-par local language skills for a backoffice / support role. When comparing France vs. Germany, probably a bit easier to get in in Germany, as in France the English proficiency of the overall population is lower than in Germany. Lots of success to you! Best, Heinrich
I think that you must decide what is best for you in terms of career progression, job satisfaction, and work life balance. This is something that is personal and subjective to each individual! :)
Good point. Depending on the type of consulting firm, the reasons might be less valid. E.g., especially in IT or Big 4 consulting, teams tend to be larger and you will often get less exposure to C-level management. Best, Heinrich
Hy Heinrich, I have completed Master of Pharmacy, and currently pursuing Health Care Management. I want to pursue my career in consulting firm. Can you tell will your experience that, does this companies consider someone from medical background as consultant.
Hi Keyur, yes definitely! Especially the MBB firms like to hire people with medical background, also because Pharma is an important client sector. Best, Heinrich
hi heinrich.... how could be a sustainable or possible path in Mckinsey starting from Business Presentation Specialist (Trainee) role to upper level enhancing carrier perspect being a fresh graduate?
Hi Michi, if the rest of your profile fits the criteria, this should not be a problem at all. Consulting firms hire PhDs all the time (engineering is great for this!) - just make sure you do not come across as too "nerdy" - consulting is a people business afterall :) Best! Heinrich
Are you planning to join Consulting as well? Good news - I prepared a Consulting Interview Preparation Checklist that you can use to prepare for your next interview. You can download it here (yes, for free!): link.firmlearning.com/checklist
Timeline:
06:55 - #1
09:59 - #2
12:31 - #3
14:22 - #4
15:15 - #5
Great video!
Thanks for the time stamps!! :) Best,Heinrich
Heinrich, you bring tremendous value with your content. Thank you!
Hi Igor, great to hear you find it helpful. Appreciate it!! Best, Heinrich
Thank you Heinrich for another very valuable and practical lesson to move into consulting industry. I think along with the leadership, industry knowledge, culture ,travel exposure and range of opportunities, mentorship and learning which is there every single day with every new project. We also get to do things to keep challenging our thinking, pushing our self and problem solving working with the top brains and this helps me a lot when I have to make a decision in any kind of situation. So fully agree it's a great career choice but also very demanding career choice with high reward. Thank you again for sharing your insights very helpful always.thanks again
Yes, fully agree! It really is the diversity of tasks and activities that keeps the job exciting. Every day is a new challenge, which keeps it interesting but also demanding. Best! Heinrich
Yes, please do a video on the down sides of working in strategy consulting. Thanks!
Thanks Oliver! Yes, also already did a video on what I did not learn in consulting, check that out to see this side as well! Best, Heinrich
Thanks for the content, that is really valuable! I'm going to graduate from University the upcoming June and my first job in Consulting starts in July at KPMG in Austria! I'm really looking forward to it!
Great to hear. Very glad you liked the video. Wish you all the best for your start at KPMG! Best, Heinrich
Great content. Good reasons for why to join consulting. Will make me think about my career choices after graduating from University! Especially the reason on different leadership styles makes a lot of sense to me. Keep up the great work!
Glad it was helpful!
Wow! Such a great difference! Great video!
Thanks, great to hear! :)
Thank you so much for everything you share. Would love to learn more on moving to consulting for experienced hires especially for someone with 5-10 years of experience only in product companies/in-house.
I'd really love to know what you think are the downsides to start as a consultant after graduating. Your videos are great. Though I'm not graduating most likely in the next 2 years, it's highly interesting to listen to what you have to say. Keep up the good work!
Glad this is helpful, very happy to hear! Yes, have added the "downsides" video to my idea list :) Best, Heinrich
@@FirmLearning thanks a lot for your video/s! can't wait to see and hear the "downsides" video from you, Heinrich :)
@@zhenyauvarova1632 Thanks Zhenya, yes have added the other video to my ideas list :)
In my oppinion the biggest downside is that in the first year there is little you can do to affect your utilization, which often is the most important KPI for promotion / bonus. Either you're lucky and directly land on a project or you sit on the bench for a couple of days or even weeks.
Heinrich, you bring tremendous value with your content, thank you very much!
Great to hear!
Heyy Heinrich, as a new consultant just recent graduated from my university I join Deloitte and I have been watching your videos, they are really helpful thanks!!
Hi Adrián, super happy to hear the videos are helpful. Very much appreciated! Best, Heinrich
That amount of experience in that little time is God dam true !
I am trying to decide between joining a major FMCG firm or a boutique business and tech consultancy firm! This video really helped my decision, thanks :)
Great to hear that, thank you for watching. All the best to you and lots of success :) Best, Heinrich
I'm exploring career paths and your videos are very helpful in understanding the consulting career. Thanks for informative content 👍
Hi Omkar, thanks for your comment! Super happy to hear that. Best, Heinrich
Can you please do videos that includes: Communicating with your manager, Client CEO presentation preparation, How to deal with difficult clients (rude, aggressive, or resistant to change), how to deal with imposter syndrome when you’re fresh graduate or generally young
Hi Elle, thanks for your comment. Have actually already touched on many of these topics in prior videos (just check the video library on the channel). But definitely much more to be said about this - stay tuned for future videos! Best, Heinrich
Thank you! Very insightful!! :)
Glad you like it - thanks for watching! :)
Finally i found you. Im a consultant for firm strategy. Thanks for gave me a deep look perspective bout how good as a consultant. Fyi after graduated i join to consultant firm, not top 5 consultant but still consultant firm haha
Glad to hear the video is helpful. Lots of success to you on your path!! Best, Heinrich
Very insightful, thanks for sharing :)
Thank YOU for watching!! Best, Heinrich
Would like to hear your opinion on firms like the big4 accounting firms. Do you think it is a viable way to start or is auditing too specific as a start in your opinion?
Back here after the 100k :)
Welcome back!! :) Thanks for being a regular viewer! Best, Heinrich
Thank you for sharing this.
Thank YOU for watching Olesja! Best, Heinrich
Thanks for the video Heinrich, that was very insightful. I'm a recent MBA graduate who is looking to transition from a Mechanical R&D Engineering/Technical Consulting role into Management/Strategy consulting. Granted your view may be a bit biased would you recommend an MBB firm like you joined as opposed to say a Tech/IT firm like Accenture or perhaps joining Strategy Team at a Financial services-based firm like EY, Strategy&(PwC) or Delloite or perhaps even a smaller firm like A.T. Kearney which may have better work-life balance? Apologies if you already have a video on this.
Hi Willem, thanks for watching and your comment! I have a video on Management / Strategy Consulting vs. IT Consulting, based on my experiences having worked at Accenture and McKinsey. For me it would be very clear that I would (almost) always pick an MBB firm over all the other firms that you are mentioning. In the end, you can also do IT or Financial Services projects at MBB, with all the benefits that MBB offer (higher salary, better network, better exit opportunities etc.) Of course, the other firms will offer you great opportunities as well though. Best! Heinrich
Can you begin adding the key points to the video description, or specifically restating them in your recap?
Hi Matthew, thanks for the feedback! Yes, in the newer videos I already started to insert the chapter structure in the video description and will continue to do so. Hope this will help get an orientation of the different key sections. Best! Heinrich
Would be great if you could make a more detailed video of what each of the tasks a consultant does please. New to your channel so if there are any videos for this let me know!
Hi I have a video called a week in the life of a consultant which you should find quite helpful! Thanks for watching :)
Hi Heinrich, thanks for your sharing. Would you be able to shed some light (in perhaps a new video) on entering consulting for people who are experienced hires i.e. Have some years of work experience in an industry, and then moving into consulting? Thank you
Hi Kenneth, yes this topic sits on my idea list for future videos already for quite some time. Will for sure do a video about this at some point! :) Best! Heinrich
@@FirmLearning That's great, am looking forward :D
Thanks Heinrich.. is it easy to get into management consulting firms in a senior position if one is already a senior consultant at a Technology firm? I work as a Strategic/Executive consultant developing different types of strategies for clients that exclusively use our tech. I do like the overall approach and richness of the methodology and models employed by the reputed management consulting firms and see that as an area of growth for myself. Interested to know of your thoughts in this regard.
Hi, yes as an experienced hire you should usually be able to get into a Senior Associate role equivalent in consulting (of course assuming the rest of your profile meets the requirements). Best! Heinrich
Thanks for all of these fantastic videos Heinrich! I got a question that I hope you can answer: As somebody with an engineering degree and PhD currently in an engineering consultancy role, what would be a good approach to transition to management consulting?
Hi Razvan, would probably try to do as much conceptual / strategic work as possible instead of super tech / ops topics in your current role. This will then usually be perceived as more relevant work experience and will help you to make the transition. Lots of success to you! Best, H
@@FirmLearning thanks, it makes sense. Hope to one day pursue an MBA too!
Thank you for the video! I would like to know how you exit consulting after few years working
Moved into a CTO position at a German retailer (SME). Best! Heinrich
How long should someone stay in consulting? What‘a your thought on this?
I’m actually a bit sad you excluded Banking. I did an internship at a german T2 consulting firm this year but I’m also super interested in finance and I love reading books about it. But I’ll just try to do an internship in IB and one at MBB next year and make up my mind.
Hi Moritz, absolutely, trust that Banking contains lots of opportunity and learnings for young graduates. Indeed optimal that you do internships in both industries to see what works best for you! All the best - Heinrich
Awesome content, subscribed.
Thank you - very much appreciated!! Best, Heinrich
Great video 👍👍
Glad that you enjoyed it :)
Thanks for the video! Very informative. I would like to know if it's possible to be a consultant without a business related degree? I studied Literature and now I want to do a master degree in Management. I would appreciate your opinion.
Thanks in advance
Hi Noa, yes it is possible, especially at the large MBB firms. These firms have recruiting targets for "exotic" backgrounds. Best! Heinrich
Kommen for the algorithm :)
That's the spirit :) Thanks so much! Best, Heinrich
Hi Heinrich, last year before the pandemic start, I plan to take an MBA and switch my career into consulting. In your perspective, is consulting still a promising career during this pandemic or in the future?
Yes do think so, though some firms will be more affected than others, look out for that. Lots of success to you! Best, Heinrich
@@FirmLearning Do you know whether major consulting companies (like MBB) still actively search for new recruits or do they tend to freeze or hold their recruitment during these pandemic?
Did You enjoyed traveling in Mck, and it was a cool descinations in business class or rather lot of short europe trips in economic class?
Yes, while you do travel to cool destinations and stay in great hotels for many projects, the reality is that often you do not really have the time to make good use of them. Sometimes you also have projects in the middle of nowhere. Whether you fly business or eco for domestic flights depends on your office. Overall why I did make many great travel experiences, today I would prefer a job without travel (but it also did not bother me too much to be honest). Best, Heinrich
@@FirmLearning Thank You for your comprehensive answer. You do a great job with this channel ;) Michael.
Wai em ai rieding se commends wis ai sherman agzent?
17:00
Thank you Heinrich for insights about the functions of consulting industry.I appreciate it.
I am from india and i am aspiring for roles in german or french offices.Will they accept me if i have language proficiency or requird s
Hi Anitesh,
Thanks for watching! The last part of your question seems missing, but I assume it is about what level of local language skills you will need? While this might of course deviate firm by firm, most firms will require you to have "business fluency" in the local language, especially for client facing roles. If you have a special technical skillset to offer that is in demand, you might get away with sub-par local language skills for a backoffice / support role. When comparing France vs. Germany, probably a bit easier to get in in Germany, as in France the English proficiency of the overall population is lower than in Germany.
Lots of success to you!
Best, Heinrich
Hi Heinrich I am an IT consultant in one of big 4. What do you suggest my next career move should be. I focus on Cloud and devops.
I think that you must decide what is best for you in terms of career progression, job satisfaction, and work life balance. This is something that is personal and subjective to each individual! :)
skip intro button for busy graduates 6:50
;) Thank you for watching, appreciate it! Best, Heinrich
Do you reasons only count for top consulting firms?
Good point. Depending on the type of consulting firm, the reasons might be less valid. E.g., especially in IT or Big 4 consulting, teams tend to be larger and you will often get less exposure to C-level management. Best, Heinrich
Hy Heinrich, I have completed Master of Pharmacy, and currently pursuing Health Care Management. I want to pursue my career in consulting firm. Can you tell will your experience that, does this companies consider someone from medical background as consultant.
Hi Keyur, yes definitely! Especially the MBB firms like to hire people with medical background, also because Pharma is an important client sector. Best, Heinrich
hi heinrich.... how could be a sustainable or possible path in Mckinsey starting from Business Presentation Specialist (Trainee) role to upper level enhancing carrier perspect being a fresh graduate?
Consulting firms accept people with many different backgrounds so it certainly could be a possible path! Thanks for watching :)
@@FirmLearning thanks heinrich
I wanna join consulting firm most 5 skills I need to develop?
Hi Getem, recently made a video about the most important skills for consultants. Hope it is helpful :) Best, Heinrich
How do I make the transition to consulting after a PhD in engineering? 😊
Hi Michi, if the rest of your profile fits the criteria, this should not be a problem at all. Consulting firms hire PhDs all the time (engineering is great for this!) - just make sure you do not come across as too "nerdy" - consulting is a people business afterall :) Best! Heinrich
Why do you want to go to consulting?
As an engineer?
There is nothing more satisfying than solving difficult problems