These companies sound like therapists for large corporations.

@rocketblocks

4 жыл бұрын

Ha, sometimes everyone needs a little help :)

As I personally don't know anyone at a top managment consulting firm, but I see it as my ultimate goal to work for one, I love the fact that I can get insights from someone who has experience in this area and is willing to share it on here. Thank you so much and please keep up the good work!

@rocketblocks

6 жыл бұрын

Thanks! And I'm glad to hear it's helpful. We've got more good videos coming soon. And best of luck in your interviews!

@Valentine350z

3 жыл бұрын

Hey WolfGang! Wanted to know if you were able to get into a consulting firm. I am in a same position as you were 3 years ago and would love to hear more about your experience.

@oliverfleck02

3 жыл бұрын

Even though I did travel a bunch, I stayed mostly in one place, allowing me to be more settled and keep a circle of close friends. The whole travel thing seems awesome at first, but very few of the consultants I know actually enjoy it long-term. It does drain a lot of energy. I also worked on a bigger variety of projects (geographically and scope-wise; not industry-wise, but I never envied the consultants working on some banking or insurance projects anyways) than any consultant I got to know in the time. Never felt as happy to go to work as I did then and haven't had the same feeling since. It was an incredibly fun and exciting experience, I keep going back to it in my mind and am benefitting a lot from it. Even beyond the professional stuff. Feel a lot more confident in what I can achieve and have a better sense of what really matters. At the end of the day, the guy who worked in our in-house post office seemed much happier than any Partner or Senior Partner I've met along the way

@oliverfleck02

3 жыл бұрын

@@Valentine350z This probably won't help you for your interviews and I feel like I'm not the best person to talk about interviews anyways. You can get all the info you need from channels like this. Your question made me reflect on what happened in these last years and so I wanted to share my thoughts and experience. Maybe one thing you could take away for the interviewing is to just keep calm. I think this already goes a long way since everybody is so tense during these interviews. At the time, I also thought it'd be the end of the world if I didn't get into an MBB. It really isn't and I since found out that it's not even what I truly want, it was just a rather shallow dream.

@oliverfleck02

3 жыл бұрын

@@Valentine350z wish you all the best and let me know how it goes if you feel like it. Maybe in about 3 years time 😉

This video is so clear and concise. So brilliant - thank you.

I've been looking into the broad field of consulting for the past few weeks and I'm currently binge watching your videos because they are very intriguing and gives a great highlight into the consultant career field! Keep it up!

You even lay out the video structure like a consultant, haha! Awesome vid!

You explain things so well. About to go into an interview with BCG and this video has been really helpful. Thank you and subscribing!!!

As an MBA aspirant, I find your Videos to be pure gold. Keep uploading. Many Thanks !

@leelarawat2450

2 жыл бұрын

How are you doing 3 years later?

@namangupta342

2 жыл бұрын

@@leelarawat2450 at a good Bschool, just started

Finally an informative video about this topic. Thank you!

Fantastic video. Thank you so much for the clarity provided! Would definitely recommend to others.

Amazing video mate! Thank you so much! I really appreciate you taking the time to create it.

@rocketblocks

4 жыл бұрын

Thanks Ezio!

Thank you so much! This provides so much clarity.

seems like it's a matter of convenience/company inefficiency. also seems very valuable on the other side. as you said, 'the world is messy'.

Loved the precise and clear explanation. Subscribed!

@rocketblocks

3 жыл бұрын

Awesome, thank you!

This was extremely helpful. Subscribed!

@rocketblocks

6 жыл бұрын

Awesome, thanks!

Thanks for sharing this framework.

Great content! Succinct and informative. Thank you!

Explained it soo thoroughly !!!! Thanks

Thank you for sharing this insight. It gives direction to startup.

Great info! Thanks!

I think I’d really like to hear you go into the difference between strategy consulting and consulting - do you have any content on this? Great vid btw

Really great video bro !!! You gave me a great general view about these companies

@rocketblocks

2 жыл бұрын

Glad to hear it!

thank you for this video, quite informative!

Thank you! THANK YOU!!!!

Thanks man. Looking for this.

@rocketblocks

4 жыл бұрын

Happy to help, glad it was useful for you!

Great video and insight! I work at a Big 4 firm and it's interesting how this framework applies as well! I actually just shared a video on what consultants do at a Big 4 firm ✨

Thank you for this video

Thank you so much

great video, thanks

"In a nutshell, consultants provide expert opinions, analysis, and recommendations to organizations or individuals, based on their own expertise. They're essentially fixers, serving as objective troubleshooters, and providing strategies to prevent problems and improve performance."

Can i use prefilled frameworks during my interview?

Thank you. Very valuable insights. If I may ask, Kenton, for how long have you worked at BCG?

Great insights

If BCG or McKinsey needs to make a business decision, would they hire an external consultant or use one of their own ? For eg.. In case an objective opinion is required.

@reemakhan4943

4 жыл бұрын

Every company needs an external / fresh perspective to solve problems. Many of the internal team members are generally bounded by defined thinking and so cannot present out-of-the-box ideas. This is where external consultants help. This is true even for businesses. Jeff Bezof of Amazon always preferred industry outsiders to lead entry into new product categories.

@stephandden

4 жыл бұрын

Good question! Its always good to get an unbiased opinion on what's going on within your business ✨

@rocketblocks

3 жыл бұрын

That is a really good question, it's possible they might - for example, maybe bringing in one of their alums that's detached from the current challenge and doesn't have a horse in the race so to say. I strongly doubt they'd hire one of their competitors though (although I don't know for sure, but have definitely never heard of it happening).

Great vids - Could you do a video on your favourite consulting buzz words!! Wheelhouse, bucket, log jam, etc?

@rocketblocks

5 жыл бұрын

Actually, we've already got a series like that! You can find the third one here: kzread.info/dash/bejne/c6yF2MuFgprLqLQ.html

Subscribed, in hope you will.make.more videos

@rocketblocks

5 жыл бұрын

We will - more coming soon!

Let's just take time to appreciate the word "Complicatedness"

@rocketblocks

4 жыл бұрын

It's a very complex word :)

Does anyone know of a good book that looks at similar content? Would love to reinforce what I have learnt here! Many Thanks for the great video!

@rocketblocks

5 жыл бұрын

Which content specifically? The type of cases that these firms work on? If so, the best, most robust option would be to go read through the case studies posted on Mck, BCG and Bain websites.

How long did you work for bcg btw?

How should I start preparing to get hired in top consultancy firms as I am a undergrad student and I am currently in my 3 year student and pursuing my engineering degree. So what are the things that I should focus on doing to get placed on any of the consultancy firms?

@rocketblocks

6 жыл бұрын

Well, I'm obviously biased but what I'd recommend is 1) understanding what these top consulting firms are all about (eg context) 2) determine what core skillsets they want in employees and 3) get really good at those skill sets. That's actually what our RocketBlocks platform is designed to do. The free guide helps with #1, and the platform will help you with #2 and #3. Best of luck!

@temikolarinwa4927

6 жыл бұрын

Network! In addition to the above!

How is rocketblocks' hiring process? what strategy do you use for new hire? what kind of professional do you look for?

@93coolbean

6 жыл бұрын

Ceclia De Oliveira

So, what's the business model? Is there a way to figure it out the business model of any business??

@rocketblocks

4 жыл бұрын

Good question, we've got a detailed post about that here with example numbers: www.rocketblocks.me/guide/business-model.php

Does Mckinsey work only for big corporations or for mid-size & start-ups as well?

@paulallen579

3 жыл бұрын

They work for whoever can afford them. One single McKinsey or BCG consultant can cost many thousands a day. The typical case costs between $500,000 and $1,200,000 and lasts 12 weeks, but is performed by a team of consultants. It's usually only big corporations who have that money lying around.

what is the maximum age to enter consultancy?

@rocketblocks

4 жыл бұрын

There isn't any hard cap, especially since most firms do hire experts in laterally (e.g., hire an experienced industry person into a Principal or Partner) role. That said, the vast majority of staffers join out of undergrad, grad school or very early in career. So I'd be best something like 80% join at under ~30 roughly.

@paulallen579

3 жыл бұрын

It is a very demanding, time consuming job. It gives you a lot of money, a lot of perks, a lot of varied experience, and a lot of exposure to the most influential people around for your career but it expects a lot from you in return. People above the age of 30 are more likely to have family or other commitments and thus don't see these firms as a very attractive prospect for them.

I really love all your informational videos and your website rocketblocks.me. I am looking at consulting firms as a short term stay to broaden my experience. I particularly like that you had a page of alumni members of Big 4 firms.

@rocketblocks

5 жыл бұрын

Thanks Jasim!

Just out of curiosity, what did you do in college?

@rocketblocks

5 жыл бұрын

Economics + History major at UVA

Sir, Please tell me how I get job at this company? Thank you

Very well presented, but your obsessed by buckets

@rocketblocks

5 жыл бұрын

Structure is everything :)

So on Type 1 this is what I don't get -- what if McKinsey, BCG or Bain don't have the expertise? I mean these are companies as well - how could they know about pricing in every market out there, or strategies to enter each one? And if that expertise can be acquired why wouldn't a car manufacturer (say) look to hire senior executives and managers who have that type of expertise already? Isn't that what the position entails? It's like hiring a person and then paying another person as well to do a work. Type 2 sounds silly to have someone outside the company, whose position won't even be affected by a wrong decision be a tie breaker. Let's say a consulting firm makes the tie breaking decision between a CEO and his/her board. Who is going to be accountable? Who is going to get affected more? Type 3 sounds fine. It seems like contracting for a special role, which I understand is for short term projects or if they don't have a workforce.

@rocketblocks

3 жыл бұрын

1) they may not always have the expertise but in many cases they do OR they have significantly more than the client company does and that is valuable. 2) hiring a good senior exec can take a long time - it could take 6 months to a 1-year. Hiring McK could take 2-3 days -> speed matters and companies will pay for it

@seanras4046

3 жыл бұрын

@@rocketblocks Thanks for responding to my comment! So, I understood those points. But what I don't get is how could McK have a process that allows them to hire people who have the expertise, but these companies don't? It sounds like those companies are poorly managed or don't know their own market - which is surprising because the company ONLY deals with it's stuff (say auto, medicine etc etc), and it should allow them to find someone with a more focused understanding of that market. It's like if I hired a cook A and he looks to another cook B to understand how to cook. And my question is like why wouldn't I hire cook B directly and save my money? But here's my guess - the problem may be in the general availability of the expertise level of cook B itself. So I hire a kind of okay cook A, but for special meal days like my anniversary, cook A takes advice from cook B as well? That's the only guess I can think of. Would that be close to the correct understanding?

They throw the masses to the wolves.

why is he holding a pen?

@rocketblocks

6 жыл бұрын

I like to! Plus, you never know when you'll need to make a note :)

Still not clear?

structuring, restructure, strategy, growth, industries...all jargons..bla bla bla ....What do Consultants do.... Company - Okay now give me a solution to my problem, brings in consultant. Consultant- We take hefty fees for that. Make advance payment. Company- Gives fees compromising on millions' salary. Consultant- Hands over a 100 year old ppt after some quick shuffling of images and taglines Company- This is coming from a INSEAD alum..it ought to be great. 5yrs... no solution..to actual problem..it takes time right. 2yrs... Consultant got CSO position because he was batchmate of CEO. Actual leaders of organisatiom irritated because they were not valued. Domain specialists left. Company got doomed. CEO was ousted after outrage. Consultant still in CSO position... Strategy won. life continues ~Corporate Jungle

hustle companies out of money

@rocketblocks

4 жыл бұрын

It's hard to reconcile that belief with a multi-decade track records of success (e.g., a hustle works because you con someone once and disappear, which is the opposite of what these firms do).

@randomvariety7874

4 жыл бұрын

rocketblocks you guys are so good with your words to make it sound like you know what you are talking about, blah blah blah

@whiteskull1067

2 жыл бұрын

@@randomvariety7874 jaded by your own ignorance on the matter. Sad.

...this is some multi layered satire right?

Why does my guy speak so slow?

@rocketblocks

3 жыл бұрын

You know KZread has playback speed controls, right ;)

OK tell me why this sounds like the fakest most nonexistant job... it's like he's saying so many buzzwords, so much jargon, but the actual meaning is vague and hard to grasp... it's con man pyramid scheme vibes.... please I hope I die before I should ever become like this and think it is ok to be a "consultant"....