Congratulations! Your hard work and perseverance has paid off and getting offers from MBB which is an impressive achievement. Right now you will be taking an extremely significant step and choosing the offer best suited for you. Any MBB firm will provide your career with an amazing accelerated track, and they share a lot of commonalities around their focus on impact and talent development. There is no "right answer" as to which one you should choose. However, there are a few differences to take into account. Taking the time to research and compare your options is a worthy time investment.
So let's look at this like a consultant, shall we?
#1 Identify the problem
What are you optimizing for? Do you want to have the best possible two years as an analyst? Or are you taking this decision with a longer future career orientated view? Do you want to rise through the ranks and make partner? Or do you want to use consulting as platform to be the CEO of the largest Telco of your home country? You should be honest with yourself about your end goal.
#2 Build your structure
Once we've narrowed down our goal, we need to build a structure about what are the elements we'll want to consider:
1) Location, location, location
3) Industry focus
4) Network & exit opportunities
5) The offer package
#3 Lead the analysis
Let's analyze each factor - Here a good consultant will prioritize which are the most important for them, but this is a question only you can answer.
3.1.) Location, location, location
3.3.) Industry & functional focus
3.4.) Network & exit opportunities
Given how close-knit the alumni networks of firms are, this is a factor that shouldn't be underestimated: The day you look for another opportunity will be the day you'll realize just how massively important your firm's alumni network is. You should study this criterion under two different lenses:
a) Spread of the network: As a result of the with the industry focus of each Firm, you'll find that MBBs have differently focused networks - For example, Bain tends to have a higher percentage of their alumni working in Private Equity. The same is true for geographic focus - If you're working in New York but hope to one day work in Africa, McKinsey's network will be much more far-reaching than others'.
b) Size of the network: Size matters. McKinsey is larger than BCG, which is larger than Bain. Furthermore, in our experience, this larger network size has not led to a significant dilution of the closeness of ties. If you're working in London where all three firms will have very deep networks this effect is not massive. But if you ever plan on relocating to another city, you might find that a larger network makes difference in your ability to quickly connect.
3.5.) The offer package
#4 Deliver the recommendation
We'll leave this last one to you - Try to use the pyramid principle to build a recommendation for the CEO of your career about which firm to go for. You should support this recommendation in a fact-driven way, using three parallel lines of reasoning. If you can't do this, maybe you should reflect for a little while longer.
Don't know what the pyramid principle is? We've got you covered - look at the next section "Don't have the offer yet?"
Don't have the offer yet?
Getting to the stage where you have to make this decision takes effort, as only the best of the best candidates manage to land even a single offer. The good news is we're here to help - At My Consulting Coach we've developed the resources you need to successfully navigate the recruiting process, end to end.
Our case interview method
Our case interview course has been developed by MBB consultants with clear goals in mind - To teach you how to think, act and communicate like a world-class strategy consultant. By going through it you'll become equipped not only to ace the interview process, but also to be a top performer at your firm.
Other methods focus on helping you memorize dozens of frameworks and pre-packed structures. We take a different approach. We believe that distinctive candidates and distinctive consultants don't rely on crutches and that they use their own minds to solve the toughest problems. We're here to help them master the concepts and processes they need to be able to shine. We can support you in:
1) Understanding business fundamentals: Get your mini-MBA with our Marketing, Strategy and Economics, Accounting & Finance modules
2) Learning how to crack a case: Identify the problem, Build a problem driven structure, Lead the analysis and how to provide recommendations.
3) Shaping your approach with our building blocks: Master profitability analysis, competitive dynamics, pricing discussions, among others.
Our coaching sessions
Coaching can help the best candidates to pinpoint their development points and turn them into strengths. They will give you self-awareness about your profile and how to best position yourself for that MBB offer. Equally importantly, they will give you the confidence to know you can succeed in such a challenging process.