The Best Internships Before Consulting: A LinkedIn Analysis of What Consultants Did
Why a LinkedIn Ivy League Analysis
Ultimately, no one consulting internship is superior to another or is guaranteed to provide you with more experience. The question, therefore, is not which internship is best for consultants, but rather which internships - or lack thereof - are included on the resumes of working professionals who get the jobs at firms such as BCG, Bain, McKinsey, etc. LinkedIn happens to be the best source of information to gain accurate, real-time, and objective data about these professionals to come to a conclusion.
A LinkedIn Analysis of The Best Internships Before Consulting
While LinkedIn is home to the profiles of millions of professionals, we choose to focus on alumni from the most elite schools because (by all accounts) they have the highest success rate of transforming students into full-time professionals at large firms. This success is largely due to two main reasons. First, university advisors aren’t biased in the ways firms might be. Second, they have the most resources, the most experience, and some of the most successful students (as far as getting into consulting goes) in their alumni networks.
At the end of the day, professional consultants come from all different universities, but the experiences of those who graduated from an Ivy League school are particularly worth observing and gaining insight from. These students understand how competitive consulting can be and therefore chose or omitted summer internships to help them have an experience that helps them secure a role at a top firm.
Our Methodology
LinkedIn is a rich resource hub for working professionals, but we understand that students don’t have the time to analyze dozens of profiles for the important information we are about to provide. We searched for individuals working at the top consulting firms (McKinsey, BCG, or Bain) in full-time roles after graduating from an Ivy League institution. Note that, for privacy, we will (1) never mention individual profiles and (2) never mention trends that are so unique that their source would be easily identifiable.
Beginning at the End
We found around two dozen profiles on LinkedIn that matched our criteria. After analyzing them, we found the majority of these consulting professionals fit into four distinct categories: Did MBB (McKinsey, Bain, and BCG) consulting internships (52%), did a non-MBB consulting internship (24%), did a non-business internship (16%), did no internship (8%).
Let’s explore each experience in more detail.
MBB Consulting Internship (52%)
Due to the criteria we used to find profiles on LinkedIn, it comes as no surprise that the vast majority (52%) of consulting professionals we came across spent a summer interning for one of the Big 3 firms (Mckinsey, Bain, and BCG). Most of these profiles included the roles of Summer Business Analyst or Associate Consultant Intern at these firms.
In these roles, students are expected to collaborate with senior consultants, client managers, and executives on every part of the consulting process. Essentially they simulate consulting, decide if it’s for them, and grant the firm an opportunity to assess them. However, crucially, it is important to note that for most firms there are more full-time roles than there are internships, and securing an internship is by no means essential.
In fact, these top firms have an incredibly low acceptance rate due to the number of positions available versus the number of qualified applicants that apply. McKinsey infamously only has a 1% acceptance rate for interns. The benefit of an MBB internship is that students are creating connections and showing their strengths, so many times they are hired on in full-time positions after graduation (however it is not guaranteed).
Another viable option for every undergraduate looking for a full-time consulting experience outside of the classroom is Beacon. Similar to many internships, Beacon offers a fully immersive (1-10 weeks, which is more flexible) experience where each participant is taught directly by an alum of one of the elite consulting firms as they complete a hands-on project.
Time and time again, Beacon alumni often land consulting offers because of their time in our program because (1) it shows their consulting ability and (2) interest in the field gained by studying abroad. The first of these reasons can also be obtained through an internship, while the opportunity to study abroad is unique to Beacon.
Non-MBB Consulting Internship (24%)
Another common theme among the internships of Ivy alumni we profiled on LinkedIn was a non-MBB consulting internship. Many (24%) included a consulting internship at a smaller firm or business that includes many of the same responsibilities you would find at an MBB internship.
These internships can be beneficial for students who are seeking more experience in the field but who may not have been accepted to an MBB position (or who simply wanted to work closer to home or gain a different perspective). As you can see, completing a non-MBB internship does not mean you won’t be able to work for one of these firms in the future. The profiles that stood out the most included specific details about what the individual accomplished during their internship that likely resonated with the top consulting firm they currently work for.
Non-Business Internship (16%)
Non-business internships are also a viable option for consulting undergraduates, as proven by the 16% of profiles we found that highlighted them. Some profiles that stood out included research internships spanning a few distinct industries. While these internships were not related to business or consulting, the profiles explained in-depth the skills and attributes they learned from the experience that are core competencies for consulting.
For instance, McKinsey explains that problem-solving skills are important for consultants because “helping clients solve problems and implement solutions requires strong intellectual abilities and rigor, as well as a practical sense of what works and what does not.” If you complete a non-business internship, make sure you can quantify your accomplishments and tie the transferable skills you learned to a career in consulting.
At Beacon, our fellows learn about consulting but and are also honing important career skills that can help them in entry-level positions across different industries. Beacon welcomes undergraduates from all backgrounds and class years who are interested in consulting to join our program.
No Internship (8%)
Finally, we can’t overlook the few profiles we came across that did not include mention of an internship. While this may be because they left an internship off of their professional profile, an internship is not a requirement for obtaining a position at a top consulting firm (though it definitely helps).
In these scenarios, it’s extremely important for new graduates to properly explain the experience and skills they obtained in the classroom. From group projects to individual achievements, these consulting firms and recruiters will be interested in hearing about your abilities in relation to how they can help you excel at a full-time consulting job.
That’s All!
We hope this information gives you more insight into the internships professional consultants did during their school summers! See our blog for more resources, and consider our consulting programs to gain experience in the industry.
We have seen first hand that the top consulting firms want a “can do, will do” attitude in applicants. Beacon is the global leader in high-learning-curve elite-brand business experiential education in & surrounding the University years. Beacon operates short-term study abroad programs (1-10 weeks) over school breaks, taking place primarily in the U.S. and Europe, aimed mostly at undergraduates and graduates, and following a management consulting approach to learning. Beacon’s mission is to help build a world where elite early-career business skills and jobs are available to more people.
Beacon does not imply an endorsement from these institutions; however, it seeks to disseminate important truths about this topic to as many students as possible, in order to help students navigate the often stressful consulting admissions path.