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Your consulting competition

Get to know your competition: five useful things to know about other consulting job seekers

Whether you want to emulate your competition or be as different as possible, it’s always useful to know what you’re up against.
Happily, most of the consulting employers advertising on TARGETjobs have a global presence.

We’d suggest learning as much as possible about the other candidates going for the role you want. What are their priorities? What sort of employers appeal most to them? What are they doing to boost their employability? TARGETjobs can help you start your detective work.

We’ve taken a look at the results of the Graduate Survey 2019, the largest and most comprehensive investigation of students’ attitudes towards their job hunts in the UK, so that you can see how you measure up against students who are also interested in getting careers in consulting after they graduate. You can find the results in a handy infographic, below.

The Graduate Survey was conducted by Trendence UK, a partner of TARGETjobs’ parent company Group GTI. 74,746 students responded to the survey and we are focusing on the students who expressed an interest in working for investment banks and investment management firms.

Find out more about the methodology behind the Graduate Survey 2019

We’ve put together the five most interesting facts about your competition:

1. LinkedIn is where it's at for graduate consulting candidates

A massive 88% of students interested in graduate careers in consulting choose LinkedIn over other social media when it comes to looking for a career. If you’re not on LinkedIn yet you probably should be, even if only to find out what all the fuss is about. You’ll likely be impressed: through LinkedIn, you can connect with consulting professionals, alumni from your university and professional groups such as the MCA (Management Consultancies Association), which will help to boost that all-important commercial awareness. Make sure you read our advice on how to set up and make the most of your account.

Use of social media for careers:

Use of social media for careers statistics graphic

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2. Want to meet employers? Would-be consultants go to fairs and workshops

Would-be consultants’ top two methods of engaging with recruiters are stands at careers fairs and on-campus careers workshops. In fact, 82% of graduate consulting candidates have attended a university careers fair - that's almost 10% more than the average. Go along at your next opportunity and find out what you could be missing. Chatting with someone who works at a firm you’re interested in can gain you invaluable information, and it could be a chance to impress. We’ve got advice on how to create the best impression when it comes to meeting recruiters at events.

Preferred ways of engaging with employers at university:

Use of social media for careers statistics graphic

3. Think big and global

The vast majority of students interested in graduate consulting careers want to work at a large international firm: 46% of those surveyed (only 14% want to work for a large UK-based firm, and 11% at an SME). It's not surprising, then, that 74% think international interactions are important or very important factors when choosing an employer. Happily, most of the consulting employers advertising on TARGETjobs have a global presence. Size may affect the training you receive and the career development opportunities available, and the strength of a company’s international networks will affect your opportunities to work in other countries. But remember, size isn’t everything. You need to take other factors such as culture, training, projects, opportunities to progress and so on into account when deciding whom to apply to – check out the employer hubs on TARGETjobs for starters, to get a sense of the different types of employers.

Preferred size of employer:

Use of social media for careers statistics graphic

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4. Trending: internships 

A large minority of students interested in consulting careers will have completed an internship of two months or more – 46%, in fact – by their final year. This is higher than the average, which is 34%. Most consulting employers advertising on targetjobs.co.uk offer work experience, so why not take the opportunity to get ahead of the competition? Candidates with real business experience are highly sought after when it comes to the selection process and, as in other sectors, a successful internship could set you up for a graduate position. Structured ten-week summer internships offered to penultimate-year students are most common, although some firms offer year-round opportunities. We’ve got lots of advice for you on how to make the most of your internship. More than half of would-be consultants have not done an internship, however – if this is you there is no reason to panic (we’ve got advice for you too!).

Most common type of work experience completed:

Use of social media for careers statistics graphic

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5. Degrees of choice for would-be consultants

The most common areas of study for students interested in consulting careers are: business and related, STEM subjects, and social sciences and humanties. But don’t panic – this doesn’t mean that these are the degrees most sought by consulting recruiters. In fact, almost every consulting employer we speak to stresses that they welcome students from all degree backgrounds. Diversity in their firms is something consultants pride themselves on. Neranjana De Silva, a senior project manager at Roland Berger, commented last year when we interviewed her: ‘There is no "right" profile. We have a diverse set of people working with us, with more than a dozen nationalities and people who studied a mix of subjects such as arts, languages, history, engineering and economics.’ So, if you studied one of these six subjects, you can rest assured you’re in good company. And if you didn’t, you can rest assured you’ll bring a welcome difference into the mix!

What is important to you?

More than half of students interested in consulting careers say that a good work/life balance is very important to them. Everyone expects to work hard in consulting, but the good news is that most employers try hard to make sure their employees have a good balance, and consulting is known for not having a ‘face-time’ culture. Think about your priorities. What sort of things are most important to you in the workplace, and who are the employers that can offer this to you?

If you're keen to find out more about how you measure up against the compeition, consider taking the Graduate Benchmark test, to get an employer's eye-view on how your performance compares to that of your peers.

 

 

 

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