The competition in getting a consulting internship opportunity may be as tough as getting a job. Many students would like to get hold of and maximize this opportunity. To arm you for this endeavor, read this post and have a solid background about this program.
After years of intellectually feeding your brain with theories and principles at the university, you must be too excited to apply them in the real world. Your stock knowledge about the culture of business, nature of organizations and management strategies is never enough to make you an outstanding management consultant or analyst. You need the practical side of things; you need the experience factor. The internship program in a management consulting firm can be the answer to that missing piece.
What Is a Management Consulting Internship Program?
A management consulting internship program is a systematized on-the-job training that allows undergraduate or postgraduate students to be immersed in the field for a specified period of time, usually about 10 to 14 weeks. You are given a day or two for the company and job orientation but after that, you will be assigned to work on tasks like everyone else. A supervisor will be assigned to you to answer your inquiries, monitor you during the program and address your other concerns from time to time.
Should You Take a Consulting Summer Internship Program?
Management consulting firms offer internship all year round but the most convenient time to do it is during summer. Top tier firms like McKinsey, Bain, Booz and BCG have well-organized internship programs in summer, a perfect time for you to receive formal training and meet other consultants in social events. Recruitment usually begins in January and if you’re fortunate enough to qualify, the internship starts within June and ends within August.
What Do You Get from a Consulting Internship?
Consulting internships are quite popular because of the advantages they offer to students. Enumerated below are the perks you can enjoy from this short training.
You Can Build Your Competencies
The kind of training you get from management consulting firms will expose you to responsibilities that require your utmost knowledge, skills and abilities. You’ll be given tasks to explain organizational situations, go through documents and reports, analyze critical details and possibly recommend solutions to existing problems. These require your critical thinking aspect, positive work habits and high level of professionalism.
You Can Reflect on Your Calling
Within the short duration, you can realize if this is the career path you should follow. Being surrounded by people who are already there gives you an idea of the actual life you’re dreaming of. Do you feel motivated to get your tasks done? Do you take the pressure as a positive inspiration? Do you believe you can get along with people in a fast-paced, highly intellectual environment? If all your answers to those questions are in the negative after the internship, management consulting is not probably for you.
You May Get a Full-Time Job Offer After the Program.
This is probably the best prize you can claim after the internship. If the management consulting firm has a vacant post that is commensurate to your qualifications, most likely they will offer you an employment contract, a big break that any fresh graduate would love to have. It is then very important to produce quality output, establish smooth relationship with colleagues, get constructive feedback and participate actively in team projects. Act responsibly and proactively. Prove to them and most of all to yourself that you deserve it.
You Broaden Your Network
If you don’t get the offer for a full-time position, you can still be grateful for the opportunity to meet and work with management consultants and clients. Since these people have connections with big companies, they can give you recommendations and referrals to the best employers in town. In the future, if you stumble upon complicated challenges in your career, you may contact them and seek advice.
What Do Management Consulting Companies Get from the Program?
It’s not only students who benefit from internship programs. It’s actually a win-win situation for both parties. Below are two reasons why consulting firms continue to offer this training.
Effective Recruitment Strategy
During the on-the-job training, they can closely monitor who among the interns exhibit the competencies perfect for their vacant position. They can determine who has the leadership skills, analytic way of thinking, excellent communication ability and initiative. They’ll be able to evaluate candidates not only through their resume, interview and test results but also through performance, which is more reliable.
Form of Advertisement
Management consulting firms treat their interns as a team member because after the program, they will be returning to the university and will be sharing their experience. Further, in the future, if the interns get hired by companies that will require consulting services, they can recommend the consulting firm because of their fantastic experience.
How Do You Avail of Opportunities for Consulting Internships?
Not all management consulting firms offer internship programs. Hence, being always on the lookout will keep you aware of rare opportunities. Watch out for job fairs and other special programs where recruiters or representatives from consulting firms accept on-the-job training applications. You can also tap your contacts who can help, guide and recommend you for the program. You can also visit the websites of your target firms for updates.
If you get the internship opportunity at a well-respected firm like BCG and PWC, make the most of your experience. Your short stay will not only provide you ample insights but also wonderful encounters with different people. Enjoy every aspect of it. You might get too absorbed with the projects assigned to you to have fun at the workplace.
After reading this post, explore our website or download this guide for more practical tips on how to land an opportunity in management consulting.
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