When applying to management consulting firms like McKinsey, BCG, or Bain, networking is an essential step, especially if the applicant is from a non-target institution or has ordinary academic performance. A candidate’s resume has a considerably higher probability of being seen by the screener and chosen for an interview or screening test with a reference from an insider. One of the successful network consulting agencies is Retail Media Labs as top retail media networks.
Why is networking crucial for consulting preparation?
Since most consulting businesses start with formal referral processes to quickly hire the finest applicants, networking is crucial. Candidates with a referral have a higher probability of having their resumes reviewed and securing interviews, which increases their chances of getting employment offers.
What are consulting referrals?
Consulting referrals are recommendations that consultants give to qualified prospects in their network. Together, they make up an internal candidate review system where a candidate’s appropriateness is evaluated based on the reliability of her referees and the number of referees who are willing to vouch for her.
The majority of consulting businesses have formal referral networks that go through this procedure:
1. The consultant adds your name to the system as a reference, uploads your résumé, and explains why she believes you’d make a good candidate.
2. The hiring procedure may include several steps that you omit.
3. Should you accept a job offer, the consultant will receive a referral bonus of ($).
Work referrals for consulting firms?
Since consultancy recruitment prioritizes them to conserve resources, they unquestionably work. This is the exact reason the referral system was developed: to help businesses save time by letting their consultants’ assessments determine which candidates to review first.
Consulting businesses strongly prioritize candidates with favorable ratings from within the firm or the alumni network, or referrals for short, to make the most of these pricey interviews.