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Year published Title/authorDone with this study?Depth of readingDocument typeNotable quotesAbstractFound by?CommentsAdded relevant partsLinkCitations
2
2014
Wikipedia, "Management Consulting"
Yes
Quick scan
Wikipedia
Criticism:

"Despite consistently growing revenues, management consultancy also consistently attracts a significant amount of criticism, both from clients as well as from management scholars.

Management consultants are sometimes criticized for overuse of buzzwords, reliance on and propagation of management fads, and a failure to develop plans that are executable by the client. A number of critical books about management consulting argue that the mismatch between management consulting advice and the ability of executives to actually create the change suggested results in substantial damages to existing businesses. In his book Flawed Advice and the Management Trap, Chris Argyris believes that much of the advice given today has real merit. However, a close examination shows that most advice given today contains gaps and inconsistencies that may prevent positive outcomes in the future.[16]

More disreputable consulting firms are sometimes accused of delivering empty promises, despite high fees, and charged with "stating the obvious" or lacking the experience upon which to base their advice. These consultants bring few innovations, instead offering generic and "prepackaged" strategies and plans that are irrelevant to the client’s particular issue. They may fail to prioritise their responsibilities, placing their own firm’s interests before those of the clients.[17]

Another concern is the promise of consulting firms to deliver on the sustainability of results. At the end of an engagement between the client and consulting firms, there is often an expectation that the consultants will audit the project results for a period of time to ensure that their efforts are sustainable. Although sustainability is promoted by some consulting firms, it is difficult to implement because of the disconnect between the client and consulting firms after the project closes.

Further criticisms include: disassembly of the business (by firing employees) in a drive to cut costs, only providing analysis reports, junior consultants charging senior rates, reselling similar reports to multiple clients as "custom work", lack of innovation, overbilling for days not worked, speed at the cost of quality, unresponsive large firms and lack of (small) client focus, lack of clarity of deliverables in contracts, not customizing specific research report criteria and secrecy.[18]"
Management consulting, the practice of helping organizations to improve their performance, operates primarily through the analysis of existing organizational problems and the development of plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants' specialized expertise.

As a result of their exposure to and relationships with numerous organizations, consulting firms are also said[by whom?] to be aware of industry "best practices", although the specific nature of situations under consideration may limit the transferability of such practices from one organization to another.

Consultancies may also provide organizational change management assistance, development of coaching skills, process analysis, technology implementation, strategy development, or operational improvement services. Management consultants often bring their own proprietary methodologies or frameworks to guide the identification of problems and to serve as the basis for recommendations for more effective or efficient ways of performing work tasks.
Google: management consulting
Done
http://en.wikipedia.org/wiki/Management_consulting
3
2013
Willis, Jonathan. Where can I earn the most?
Yes
Quick scan
Blogpost
2-10m GBP estimated lifetime earnings for consulting, no source
Since one way you can have a big impact with your career is through earning to give, we have an on-going project to work out how much you can expect to earn in different career paths.

Our most recent research looked at the typical career paths and salaries for five different careers:

Accounting
Consulting
Investment Banking
Law
Medicine.
80,000 Hours: consulting
Done
http://80000hours.org/blog/190-where-can-i-earn-the-most
4
?
80,000 Hours. Which careers are best for building your career capital?
Yes
Quick scan
Web resource
Putting this together

Which career best generally builds your capacity if worked on for 2-3 years?

We haven’t finished conducting our investigation of these careers, so everything we have said should be regarded as extremely tentative.

Our very first guess, however, is that the following are particularly good (in no particular order):

Consulting
Investment Banking
PhD in Economics, Physics, or Maths
Entrepreneurship
Medical degree
Law degree
Bear in mind what’s best for you will vary a great deal depending on your situation and the special opportunities presented to you. You, however, can use our same framework (network, skills, CV Points) for assessing your individual options to create your own ranking.
80,000 Hours: consulting
Done
http://80000hours.org/pages/career-capital
5
2014?
BLS Occupational Outlook Handbook. "Management Analysts"
Maybe return during section write-ups
Quick scan
Web resource
What Management Analysts Do
Management analysts, often called management consultants, propose ways to improve an organization's efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.

Work Environment
Management analysts travel frequently to meet with clients. In 2012, about 1 in 4 worked more than 40 hours per week.

How to Become a Management Analyst
Most management analysts have at least a bachelor’s degree. The Certified Management Consultant (CMC) designation may improve job prospects.

Pay
The median annual wage for management analysts was $78,600 in May 2012.

Job Outlook
Employment of management analysts is projected to grow 19 percent from 2012 to 2022, faster than the average for all occupations. Demand for the services of these workers will grow as organizations continue to seek ways to improve efficiency and control costs.

Similar Occupations
Compare the job duties, education, job growth, and pay of management analysts with similar occupations.

More Information, Including Links to O*NET
Learn more about management analysts by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
Prior knowledge
Good resource
Done
http://www.bls.gov/ooh/business-and-financial/management-analysts.htm
6
2014
Vault Consulting 50
No. Link to this when listing top consulting firms.
Quick scan
Web resource
Vault Consulting 50
The Vault Consulting 50 was compiled using a weighted formula that reflects the issues consultants care most about. This ranking combines a firm's overall prestige score with several factors from Vault's "Best to Work For” ratings.
Google: Vault.com consulting
Done
http://www.vault.com/company-rankings/consulting/vault-consulting-50/
7
?
Vault. Consulting.
May want to look at the pay version
Quick read
Web resource
"Experienced management consultants with a strong track records in their specialty earn high salaries—a median of $79,870 in May 2013, according to the DOL, much higher than the average salary for all careers. Plunkett Research, Ltd. reports that top consultants at firms such as the Boston Consulting Group bill clients as much as $5,000 daily, plus expenses. Associates at top firms bill clients $1,500 a day. High earning potential attracts many people to consulting and makes for a competitive job market. The DOL advises that job opportunities will be best for “those who have a graduate degree or a certification, specialized expertise, and a talent for salesmanship and public relations.”"
Resources & Associations

Contact the association for information on specialized consulting careers
American Association of Political Consultants
8400 Westpark Drive, 2nd Floor
Mclean, VA, 22102-5116
Tel: 703-245-8020
http://www.theaapc.org

Contact the institute for information on specialized consulting careers
American Institute of Certified Public Accountants
1211 Avenue of the Americas
New York, NY, 10036-8775
Tel: 212-596-6200
http://www.aicpa.org

Visit the association’s Web site for information about management trends and job listings.
American Management Association
1601 Broadway
New York, NY, 10019-7434
Tel: 877-566-9441
Email: customerservice@amanet.org
http://www.amanet.org

Association of Internal Management Consultants
824 Caribbean Court
Marco Island, FL, 34145-3422
Tel: 239-642-0580
Email: info@aimc.org
http://www.aimc.org

Contact the association for information about the industry.
Association of Management Consulting Firms
370 Lexington Avenue, Suite 2209
New York, NY, 10017-6573
Tel: 212-262-3055
Email: info@amcf.org
http://www.amcf.org

Association of Professional Consultants
PO Box 51193
Irvine, CA, 92619-1193
Tel: 800-745-5050
http://www.consultapc.org

Contact the association for information on specialized consulting careers
Consultants Association for the Natural Products Industry
PO Box 4014
Clovis , CA, 93613-4014
Tel: 559-325-7192
Email: http://cani-consultants.org
info@cani-consultants.org

Contact the association for information on specialized consulting careers
Higher Education Consultants Association
http://hecaonline.org

Contact the association for information on specialized consulting careers
Human Resources Consultants Association
2464 El Camino Real, #206
Santa Clara, CA, 95051-3002
Email: hrca@hrca.com
http://www.hrca.com

Contact the association for information on specialized consulting careers
Independent Educational Consultants Association
3251 Old Lee Highway, Suite 510
Fairfax, VA, 22030-1504
Tel: 703-591-4850
Email: info@IECAonline.com
http://www.iecaonline.com

Visit the institute’s Web site to learn more about management accounting.
Institute of Management Accountants
10 Paragon Drive
Montvale, NJ, 07645-1718
Tel: 800-638-4427
Email: ima@imanet.org
http://www.imanet.org

Visit the institute’s Web site for information on certification, details on membership for college students, and useful blogs and discussion groups.
Institute of Management Consultants USA
2025 M Street, NW, Suite 800
Washington, DC, 20036-3309
Tel: 202-367-1134
Email: office@imcusa.org
http://www.imcusa.org

For information on member institutes in nearly 50 countries, contact
The International Council of Management Consulting Institutes
http://www.icmci.org

Contact the association for information on specialized consulting careers
Investment Management Consultants Association
5619 DTC Parkway, Suite 500
Greenwood Village, CO, 80111-3044
Tel: 303-770-3377
Email: imca@imca.org
http://www.imca.org

For the publication, Careers in Business Economics, contact or check out the following Web site
National Association for Business Economics
1233 20th Street, NW, Suite 505
Washington, DC, 20036-2365
Tel: 202-463-6223
Email: nabe@nabe.com
http://www.nabe.com

Contact the association for information on specialized consulting careers
Qualitative Research Consultants Association
1000 Westgate Drive, Suite 252
St. Paul, MN, 55114-8679
Tel: 888-674-7722
Email: admin@qrca.org
http://www.qrca.org
Google: Vault.com consulting
The free version is not very useful. The pay version has some sort of useful links/resources. It might be reasonable to interview some of them.
Done
http://www.vault.com/industries-professions/industries/consulting.aspx?id=background
8
2014
The Oxford Guide to Careers
Yes
Full read of first part, glance at company advertisements
Big annual report?
Most large firms advertise in Michaelmas Term and
start accepting applications for graduate schemes from
1st September onwards. Closing dates can be as early
as October. Management consultancy firms often recruit
on a rolling basis, so preparing early and making an
application in good time is advisable. Some firms recruit
only during this period, whilst others keep their application
process open all year round. It is important to
check individual firms’ websites so that you can apply
accordingly.

Internships in consulting are becoming more popular
with the large firms, but they are not the only route in:
other commercial experience is still very valuable. Consultancies
advise all sectors, so work experience in any
other industry is valuable if you can reflect analytically
upon the experience.
The application process for consultancy is typically
made up of a written application, an interview, and a
case study interview or assessment centre. Case studies
– demonstrating that you can think about business
problems like a consultant – are a key element, so it is
advisable to prepare and practise these in advance. The
Careers Service has a variety of case study resources
and workshops to help you make a competitive application.
Prior knowledge
Done
http://www.careers.ox.ac.uk/wp-content/uploads/2013/09/Guide2014.pdf
9
?
Oxford Careers Service. "Management Consultancy"
No. May want to return during write-up.
Full read
New entrants can earn £25,000-£40,000 rising to over £50,000 within a couple of years. The sector is attractive because the most senior partners in firms can achieve seven figure salaries

The main types of consultancy firms are:

Generalist firms offer a wide range of services from strategy consulting and human resources to IT and outsourcing on a global basis. Many of these firms grew out of audit firms or IT companies, e.g. Accenture, PwC, KPMG and Deloitte.
Strategy Consultancy firms; the majority of these organisations are American, and offer strategic advice to companies on a project-by-project basis, e.g. McKinsey, Boston Consulting Group (BCG), Oliver Wyman, Booz & Co, and Bain.
Human Resource Consulting offers specialist HR advice on areas such as personnel policy, job evaluation and industrial relations, e.g. Towers Watson.
Information Technology firms offer specialist advice on a range of areas, from defining information needs through to implementing computer applications, e.g. Capgemini, IBM.
Financial consultants offer specialist advice in areas such as the installation of budgetary control systems to office reorganisation and administrative arrangements, e.g. CHP Consulting
Niche firms are smaller practices with up to 100 consultants, specialising in certain industry or business sectors. Often set up by an experienced consultant with an area of expertise e.g. Redshift Strategy.

Skills needed:
Some typical skills that consultants look for, and which are often identified in their selection criteria, are:

A high level of academic achievement, usually a 2:1 is the minimum requirement.
Analytical, problem-solving and quantitative skills.
Ability to think in a logical, structured way but also open to new knowledge and interpretations.
Entrepreneurial business sense is also desirable.
Excellent communication and interpersonal skills, the capacity to work effectively in teams and to get on with a wide range of people both internally and on the client side.
Drive and motivation for the sector (sometimes referred to as commercial awareness or business acumen).
‘Impact’ or being ‘Active’ so firms often look for extra-curricular activity and positions of responsibility.

Many firms hire analysts with the expectation that they will work with them for two or three years, and then leave to go to a business school, often on a sponsored basis, or to employment elsewhere.

Application info:

"Many firms start accepting applications from 1 September onwards and closing dates can be as early as the end of October. However, if you are thinking of applying to the ‘Big Four’ (E&Y, Deloitte, PwC, KPMG) then it is worth checking their websites during the summer vacation because some will open their process even earlier."
Prior knowledge
Good resource
Done
http://www.careers.ox.ac.uk/options-and-occupations/sectors-and-occupations/management-consultancy/
10
?
WetFeet Insider Guide. Ace Your Case: Consulting Interviews
Yes
First few pages
Google: Wetfeet consulting
Maybe link to somewhere
Done
http://businessorientedwomen.com/download/ace-your-case-consulting-interviews.pdf
11
2004
WetFeet Insider Guide. Consulting for PhDs, Lawyers, and Doctors.
More to read
First 20% or so.
"Consultants are paid very well for their work. In addition to high salaries,
employment packages usually include a signing bonus, comprehensive insurance
benefits, paid expenses for relocation, and reimbursement of school tuition—
which is more standard for MBAs than for other advanced-degree candidates.
Some firms include other perks such as stock options, annual meetings at posh
resorts, and assistance in helping a significant other find a job. Be aware that
firms award bonuses differently; some put a lot of emphasis on meeting goals
established by the manager, while others focus on the performance of the firm
as a whole. In 2000, the elite firms offered associates between $80,000 and
$100,000, with some offers as high as $110,000. Signing bonuses varied on
average from $10,000 to $20,000, with reported bonuses as high as $45,000.
These ranges still hold true today. Some firms bring certain advanced-degree
holders in as an industry hires to offer them a higher base salary. The holy grail
of consulting, however, is making partner; partners at major firms can earn well
over $500,000 per year. Three cheers for lucre."

Career progression:
"Not only do firms prescribe the route of career progression among their kind,
they also dictate the speed with which consultants should ascend. Though the
velocity of the career track differs from firm to firm, the time to rise from
associate to partner runs from five to eight years. Firms often uphold a strict
up-or-out polic+F24y regarding promotions; given the ratio of analysts to partners,
nearly five-sixths of associates leave without becoming a partner. Leading firms
do not necessarily view the “out” of up or out as a failure. All of the elite
strategy firms—McKinsey, BCG, and Bain—maintain formal alumni networks
for their former consultants. An insider says, “it’s not unusual for me to look in
the BCG alumni directory I keep by my desk and call someone up out of the
blue for a piece of market data.” The relationship between the firms and their
former consultants is symbiotic; the firm provides a networking environment
for former consultants to find positions in Fortune 500 companies, and the
former consultants, now embedded in Fortune 500 companies, provide a
beachhead for consulting firms hoping to win new or greater business with
corporate titans."
Google: Wetfeet careers in management consulting PDF
Best resource so far.
Done
http://fs3.dajie.com/2010/09/20/115/12849729157891854.pdf
12
2011
WetFeet Insider Guide. Careers in Management Consulting
Use as reference
Mostly read + notes
Google: Wetfeet careers in management consulting PDF
This was the best resource I found. It provides the most detail about what it's like to be a consultant, and looks like a lot of it is based on interviews with people at various levels in the business. Everything in it gels with other stuff I've read on this topic.
Done
http://www.ebook3000.com/Careers-in-Management-Consulting--Wetfeet-Insider-Guide-_92562.html
13
?
CareerHoot. Why this cardiologist left medicine for the business world, and how one of his patients who died defined what matters most to him
Yes
Quick scan
Interview
"Sometimes the big three firms make a bigger push to hire M.D.s and Ph.D.s. When you talk about the big three, I think McKinsey has been doing that for a long time. They’ve done a great job. I think BCG and Bain, to some extent, they have only focused on that more recently. I know they’re both hiring a lot of M.D.s and Ph.D.s at this point. It’s something they view as valuable, especially in something technological, especially in healthcare."

"It’s consulting, so a lot of time is also going to be spent on PowerPoint. There’s a lot of that. And a lot of time is spent on writing e-mails as well. That’s certainly the less glamorous aspect of being a consultant."
This interview is with Tarun Mahajan, M.D., a healthcare consultant at the Boston Consulting Group. Dr. Mahajan was previously a pediatric cardiologist at the Boston Children’s Hospital, the primary teaching hospital of Harvard Medical School. (Download the audio recording of this interview.)

Career path:

Rice University
Baylor Medical School
Boston Children’s Hospital
Stanford MBA
Boston Consulting Group
CareerHoot (prior knowledge of site)
Done
http://careerhoot.com/tarun-mahajan-boston-consulting-group/
14
?
CareerHoot. Why this engineer and beauty pageant winner left McKinsey to pursue acting and modeling (and how she got her foot in the door while working full-time at McKinsey)
Do a quick scan
Intro only
Interview
This interview is with Melanie Kannokada, a film and television actress and model who divides her time between Hollywood and Bollywood. She has appeared in CBS’s “Rules of Engagement,” ABC’s “The Nine Lives of Chloe King,” and NBC’s “Parenthood,” and she most recently played the title role in the independent feature film “Love, Lies & Seeta.” Melanie was crowned Miss India America in 2007 and is currently the face of Bare Escentuals Cosmetics. (Download the audio recording of this interview.)
CareerHoot (prior knowledge of site)
Done
http://careerhoot.com/melanie-kannokada-william-morris/
15
?
CareerHoot. How an engineer and McKinsey alum found his career passion in global health at the Gates Foundation
Yes
Quick scan
Interview
"I happened upon management consulting around this time. A lot of the management consulting firms were starting to recruit heavily outside of MBA programs and looking for folks with JDs, MDs, and PhDs in science and engineering. And it really spoke to me because of the ability to work on a lot of different projects, the ability to gain a lot of skills that I didn’t think that a technical job in science or engineering could teach me."

"Q. What were the specific steps you took to transition from consulting to the social sector?

A. I really leveraged the network I had established from being at McKinsey. Tactically, I relied on the alumni network, and probably more importantly, people that I had come across in the organization, and even those whom I had no specific connection with, but were serving serving social sector clients. I found them to be really receptive to my story and my goal of wanting to transition into the social sector.

Even within a firm like McKinsey, a lot of people want to serve non-profit and social sector clients. And, in turn, I found the folks who had made that transition were really open to “paying it forward,” and were really open to helping someone like me find my own opportunity and manage my own transition, even if it wasn’t within McKinsey.

And so that’s how I really got connected to global health organizations outside of the firm. I was put in touch with a lot of individuals through the social sector office within McKinsey. That’s tactically how I got connected with people."

"Q. Tell us about your current role with the Gates Foundation. What do you do day-to-day?

A. Very tactically, I do a lot of the same things I used to do as a management consultant working for a big firm and serving pharmaceutical companies and healthcare companies on two- or three-month engagements.

So that means developing and refining strategy for the Foundation; engaging with lots of stakeholders; doing a lot of Excel-based analyses where necessary; making PowerPoint presentations, sharing materials, and trying to get buy-in on initiatives.

To give a little context+, I support what the Foundation calls “program officers,” who manage a pool of money in a certain area, and award grants to different grantees. And I support a couple program officers on the work they do within the HIV team.

The Foundation is not just in the business of giving out grants. They actively manage their grants and they put a lot of thought into what their “theory of change” is, what their strategy is within a particular field, and how they can solve problems and move the field forward.
The Foundation is not just in the business of giving out grants. They actively manage their grants and they put a lot of thought into what their “theory of change” is, what their strategy is within a particular field, and how they can solve problems and move the field forward. As a consequence of that, they are heavily engaging with their grantees and constantly refining their strategy. And so I support that process."
This interview is with Wilson Mok, a consultant with the Bill & Melinda Gates Foundation working on global HIV issues.
CareerHoot (prior knowledge of site)
Done
http://careerhoot.com/wilson-mok-gates-foundation/
16
?
CareerHoot. How a high school dropout and massage therapist became an MIT robotics engineer working at McKinsey and Pixar
Do a quick scan
Intro only
Interview
This interview is with Naomi Davidson, film finance lead at Pixar Animation Studios, creator of the feature film “Brave.” (Download the audio recording of this interview.)

Career path:

Massage therapist
UC Berkeley undergrad
MIT grad
McKinsey
Pixar Animation Studios
CareerHoot (prior knowledge of site)
Done
http://careerhoot.com/naomi-davidson-pixar/
17
?
CareerHoot. How a McKinsey alum volunteered her way to becoming the Chief of Staff at Khan Academy
Do a quick scan
Intro only
Interview
This interview is with Jessica Yuen, the Chief of Staff at Khan Academy, the educational non-profit focused on providing a free world-class education for anyone anywhere. (Download the audio recording of this interview.)

Career path:

UC San Diego undergrad
Stanford grad
McKinsey
Yahoo!
Khan Academy
CareerHoot (prior knowledge of site)
Done
http://careerhoot.com/jessica-yuen-khan-academy/
18
?
CareerHoot. Why this Harvard lawyer left the Boston Consulting Group to start an online language learning company
Yes
Quick scan
Interview
"Then the summer after my second year, I interned at both a law firm and a consulting firm, and after those experiences, it was clear to me that consulting would be a better fit."

"In consulting, you don’t own the actual output. You create a strategy, you make a presentation, but the results are in the hands of your client. That made me think consulting wasn’t the long-term thing for me."

"Q. What advice do you have for people who are potentially interested in exploring some of the roles you’ve had?

A. For people who are interested in entrepreneurship, I think the most helpful thing is to have habits that make you think a lot about entrepreneurship, and to feed your brain with useful advice. You can do that with sites like CareerHoot, or Mixergy, or Lifestyle Business Podcasts. I think trying to absorb as much useful information like this as you can will help point you in the right direction.

"There's no jury out there or crowd you have to please. That's all in your head." - Alan Park
CLICK TO TWEET
A lot of people who have gone to good schools and have had a lot of success based on conventional paths, I think, try to optimize and be better than everybody else according to those conventional paths. But there’s no jury out there or crowd you have to please — that’s all in your head.
A lot of people who have gone to good schools and have had a lot of success based on conventional paths, I think, try to optimize and be better than everybody else according to those conventional paths. But there’s no jury out there or crowd you have to please — that’s all in your head. And I think the sooner you can discover and pursue your actual passions and make a unique contribution to the world, that’s success for yourself and will be in the eyes of people around you.

My advice would be to find your passion, pursue it early, and don’t be distracted by the noise of people around you who may be optimizing for general success
This interview is with Alan Park, founder of FluentFlix, a startup that helps people learn Chinese through movies and TV. (Download the audio recording of this interview.)

Career path:

Duke undergrad
Harvard Law School
Boston Consulting Group
Founded FluentFlix
CareerHoot (prior knowledge of site)
Done
http://careerhoot.com/alan-park-fluentflix/
19
2012
Prospects. "Management consultant"
May return during write-up
Table of contents
Web resource
Google: management consulting
Similar to BLS.
Done
http://www.prospects.ac.uk/management_consultant_job_description.htm
20
2013
Leaman, Alan. What does a management consultant do, exactly?
Yes
Title only
Google: management consulting
Looks less informative than the WetFeet guide
Done
http://careers.theguardian.com/what-does-management-consultant-do
21
2013
Pidgeon, James.
Yes
Amazon page
Book
The goal of this book is to help you get a job with a top management consulting company.

Its primary audience is current and prospective MBA students, although it should also be very useful to anyone going through one of the other channels into consulting, including undergraduate recruiting and experienced hires.

It gives candidates an in-depth, insider look at the entire process of recruiting, including how to get the most out of on-campus events, how to network, how to prepare for interviews, and how to succeed in interviews.
Amazon.com: consulting
Done
http://www.amazon.com/How-To-Get-Job-Consulting/dp/1484150635/ref=sr_1_8?ie=UTF8&qid=1406124317&sr=8-8&keywords=consulting
22
2009
Darling, T. How to Get Into the Top Consulting Firms: A Surefire Case Interview Method - 2nd Edition
Yes
Amazon page
Book
- "What are the main drivers in determining the price of a new medical device?"
- "Should a beverage company acquire another producer?"
- "How should a manufacturer respond after a competitor introduces a breakthrough new product?"

While you could memorize answers to the most popular case interview questions, what happens when you encounter an issue that's outside of their reach?

In How to Get Into the Top Consulting Firms, management consultant Tim Darling offers a holistic approach for solving problems in 30 minutes or less. By showing how to break an issue into its core components, he simplifies case interviews by illuminating them from the perspective of the consulting firms.

13 interactive cases are included with detailed data, charts, and solutions. This second edition contains over 50% revised and additional content.
Amazon.com: consulting
Done
http://www.amazon.com/How-Get-Into-Consulting-Firms/dp/0615279899/ref=sr_1_14?ie=UTF8&qid=1406124317&sr=8-14&keywords=consulting
23
2011
Weiss, Alan. The Consulting Bible: Everything You Need to Know to Create and Expand a Seven-Figure Consulting Practice
Yes
Amazon page
Book
Everything you need to know about building a successful, world-class consulting practice
Whether you are a veteran consultant or new to the industry, an entrepreneur or the principal of a small firm, The Consulting Bible tells you absolutely everything you need to know to create and expand a seven-figure independent or boutique consulting practice. Expert author Alan Weiss, who coaches consultants globally and has written more books on solo consulting than anyone in history, shares his expertise comprehensively.

Learn and appreciate the origins and evolution of the consulting profession
Launch your practice or firm and propel it to top performance
Implement your consulting strategies in public and private organizations, large or small, global or domestic
Select from the widest variety of consulting methodologies
Achieve lasting success in your professional career and personal goals
The author is recognized as "one of the most highly regarded independent consultants in America" by the New York Post and "a worldwide expert in executive education" by Success Magazine
Whether you're just starting out or looking for the latest trends in modern practice, The Consulting Bible gives you an unparalleled toolset to build a thriving consultancy.
Amazon.com: consulting
Done
http://www.amazon.com/The-Consulting-Bible-Everything-Seven-Figure/dp/0470928085/ref=sr_1_1?ie=UTF8&qid=1406124317&sr=8-1&keywords=consulting
24
?
Careers-in-Business.com. Management Consulting: Salaries
Yes
Quick scan
Web resource
"The typical deal to start for an undergraduate is a position as an Associate Consultant with a base salary of around $60,000 plus a signing bonus of $5,000 to $10,000.
You can also expect a relocation / moving expense reimbursement of another $5,000 to $10,000. At year end you would receive around $10,000 in bonus. In total, you are looking at around $75,000 in total compensation. This turns out to be a little less than in the top finance areas like investment banking and private equity but it is close.

The compensation is higher for MBAs. A typical MBA graduate is about 28 years old and has one to four years of prior work experience and two years of business education. A typical MBA would enter a consulting firm at a mid-level with a base salary of $125,000 and a signing bonus of $20,000. In addition, a typical relocation bonus would be $10-15K and at year end a reasonable bonus would be $30,000. In total, the first year total compensation would be in the $170,000 to $200,000 area.

Salaries tend to be higher in the top-ranked strategy consulting firms because these firms generate more revenue per consultant than do shops focused on operations, implementation and systems."

"Consulting is a cerebral business where understanding, expertise and analytical skills are highly valued."
Starting salaries in consulting positions with a bachelor's degree after bonus (analyst position) range from $40,000 to $80,000. Starting salaries with an MBA degree range after bonus (associate position) range from $90,000 to $180,000 (the recent median at top schools was $145,000 - one of the highest of any profession). These salaries vary with firms and with the region of the country you are in.

Typical Management Consulting salaries are as follows.

Level (Experience) Compensation
Research Associate
(No Bachelors) $40,000-80,000
First Year Analyst
(bachelors degree) $55,000-80,000
(plus bonus of $5,000-$10,000)
Second Year Analyst:
(bachelors degree) $60,000-120,000
(plus bonus of $10,000-20,000)
Management Consultant
(MBA) $80,000 - 170,000
Senior Consultant
(MBA + 2-5 years) $280,000
Junior Partner
(MBA/Ph.D + 5 years or more) $450,000
Senior Partner
(MBA/Ph.D + 5-20 years) $600,000
(bonus: up to $3,000,000)
Prior knowledge
Done
http://careers-in-business.com/consulting/mcsal.htm
25
2014
Griswold, Alison. Why First-Year Consulting Salaries Aren’t All They’re Cracked Up To Be
Yes
Quick scan
Journalism
"At the low end, then, first-year consultants are making about $60,000 and working 55 hours a week. If you multiply that by 52 weeks a year, that converts to 2,860 annual hours. We divide the annual wages ($60,000) by the yearly hours (2,860) to get an hourly salary of $20.98, or roughly $21.

Here's a closer look at that math:

consulting hourly salary
Business Insider
An hourly salary of $21 isn't bad, but it doesn't sound nearly as impressive as $60,000 a year. Let's try on the upper end, where first-year consultants make as much as $90,000. We'll assume those at the high end of the bracket are likely working at top-tier firms that require the longest hours, averaging around 70 hours a week. Following the same formula, those 70 weekly hours convert into 3,640 yearly ones. So our elite consultants are making"
Google: consulting salaries
Done
http://www.businessinsider.com/why-consulting-salaries-arent-that-good-2014-1
26
?
Top Consultant.com. Salary Benchmarking Report 2011/12
Yes
Quick scan
Salary survey report
Google: consulting salaries
UK-based, survey of 1000 people
Done
http://www.top-consultant.com/top-consultant_salary_report.pdf
27
?
Management Consulted. The truth behind management consulting salaries: from analyst thru partner.
Yes
Quick scan
Blogpost?
"At almost every level, your salary will be 30-50% lower than a comparable position in investment banking. This is variable by year and median salaries in non-banking departments (such as research, asset management, sales & trading) are lower than in banking. But as mentioned in the consulting versus banking post, consulting is not a profession to make big bucks."

"How consulting firms compensate for the lower salaries:

Better benefits – healthcare, life insurance, etc
Retirement contributions – this one is important because at MBB, they’ll contribute an added 5-10% of your base salary to your retirement funds, effectively a 5-10% year-end bonus! (A reader just informed me that his MBB retirement contribution starting fulltime in ’09 was 4.5%, which is lower than I’d seen in previous years)
More generous expense/reimbursement policies, travel perks, etc"
Consultant salaries is a topic many readers are dying to learn more about.

I’ve gathered the data from my own experience, consulting colleagues, and public sources. They won’t be 100% accurate but should be pretty close.

One resource I’ve found valuable is the Consulting forums at WallStreetOasis.
Google: consulting salaries
Done
http://managementconsulted.com/summer-internship/the-truth-behind-consulting-salaries-from-analyst-thru-partner/#
28
2012
WetFeet. Career Overview: Management Consulting
Yes
Mostly read
Web resource
"The field of IT services in particular has grown up over the past decade. Many of the biggest consulting firms, including IBM Global Services, Capgemini, and Accenture, derive a significant portion of their revenue through systems integration and outsourcing engagements. These firms work with a client to develop hardware and software solutions and then often manage the systems (hence the term "outsourcing")."

"By and large, the things insiders like about consulting are similar across the board. They enjoy the variety afforded by working in different industries for many different clients, the intellectual challenge of pushing themselves to the limit as they tackle complex business problems, and the people with whom they work. And they like the money and the perks. The industry pays very well, and consultants travel in style."

"Consulting insiders also have a litany of complaints: 60-hour workweeks are standard (with crunch times often calling for more), extended travel is the rule, and personal plans often must be put on hold. Clients-not you-drive the deadlines, which can severely cut into your social life. In addition, at some point most consultants long for the opportunity to actually implement their great ideas."

"Undergraduates generally join consulting firms as analysts, although their titles vary. Traditionally, the analyst program lasts two to three years, after which you're encouraged to go to business school. However, this system has been changing over the past several years. Firms have increasingly been promoting analysts into positions previously reserved for MBAs or into interim roles between the undergraduate and MBA position. Insiders recommend choosing your assignments wisely without over-committing yourself. Pick one or two additional projects in growing areas and give them your all. It's a strategy that may result in a promotion within 12 months of being hired. If you choose to go to business school, many firms will pay your tuition, provided you return to the firm when you're done."

"Consulting firms hire MBAs and other postgraduates right out of school or from industry. Most new MBA hires will come into a firm as associates; after two or three years they'll move to the next level, where they'll manage case teams. After managing projects for a couple of years, consultants may be promoted to principal, whereupon the focus shifts to more intensive client work and the selling of services. Finally, after seven to ten years with a firm, a consultant might be promoted to partner. The benefits of partnership include big increases in salary and responsibility. The key function of partners at most firms is to cultivate clients and sell them the firm's services."

"For the next few years, MBAs should expect tough competition in the recruitment pool. Top firms get more than 10,000 resumes for entry-level consultant positions and hire only 100 to 250 new consultants each year. "I would guesstimate that on average, less than 90 percent of the people who interview with consulting firms get an offer," says a consultant. "You have to be ready to play the game and really prepare for the interview process." Interview with as many firms as you can, and be sure you know why you want to work in the industry. You can make a lot of money in this industry, and you can also be miserable if it's not right for you. But if you love the work, it makes up for the sacrifices."
Browsing WetFeet website
Done
http://www.wetfeet.com/articles/career-overview-management-consulting
29
2014
Inside Careers. Management Consultancy
Yes
Partial read
Web resource
"A strong academic background, to degree level with a minimum of a 2.1 or equivalent, is a standard prerequisite to becoming a consultant, as are good interpersonal skills. Beyond this there are certain professional benchmarks which will also dictate the route of entry."
Google: management consulting
Done
http://www.insidecareers.co.uk/professions/management-consultancy/
30
?
WikiJob. "Management consulting"
Yes
Quick scan
Wiki
Consulting, also refered to as management consulting, is a service provided by consulting firms to their clients, to help management at these companies solve complex issues that affect their business.

On a typical contract, a number of solutions will be proposed in a large report, which will include forecasts of KPIs over a future period for each scenario.
Google: management consulting
Done
http://www.wikijob.co.uk/wiki/management-consulting
31
2011
Hill, Andrew. Inside McKinsey
Yes
Quick scan
Journalism
"The McKinsey roll of honour is long. Lou Gerstner, chairman of Carlyle Group and former head of IBM, and James Gorman, boss of Morgan Stanley, are both alumni. Sheryl Sandberg, Facebook’s chief operating officer, worked at McKinsey. So did the CEOs of BHP Billiton, Amgen, Boeing and Vodafone. Britain’s foreign secretary William Hague, and its chief financial regulator Lord Turner, used to be McKinsey insiders. Italy’s new economic “superminister” Corrado Passera worked at the Firm."

"The powerful alumni network is in part the fruit of McKinsey’s policy of “up or out” – perhaps the best example in global business of a mutually beneficial rolling redundancy programme. Every two or three years, McKinsey determines whether its consultants will make progress to the next level in the Firm. If not, it gently pushes them out. The internal talent pool is further distilled and the Firm extends its web of potential contacts and customers. As a result, McKinsey alumni are famously loyal. Even those who spoke on background for this article – and had left the partnership years earlier – occasionally slipped back into the first person plural when talking about the Firm."

"McKinsey teams often work to a template – an approach lauded by fans, condemned by critics – applying fact-based, structured techniques to any problem they are handed. This approach does not differ much from that of other consultants. But the implicit contract with McKinsey is that nobody else has the intellectual wattage, or the relentless devotion to the task provided by what one ex-director describes as a band of “insecure, deeply left-brain, hyper-intellectual, OCD over-achievers”."

"Bower also helped enshrine the “obligation to dissent”, which encourages even junior associates to challenge their seniors if they think something is not right."
Google: management consulting
Profile of McKinsey
Done
http://www.ft.com/cms/s/2/0d506e0e-1583-11e1-b9b8-00144feabdc0.html#axzz38J30vII2
32
2012
Dubner, Stephen. I Consult, Therefore I Am: A New Freakonomics Radio Podcast
Yes
Quick scan
Blogpost
It was inspired in part by a provocative Robin Hanson blog post called “Too Much Consulting?” As Hanson puts it in the podcast:
HANSON: Two puzzles stand out. One is that people who are closely involved tend to say that the advice you get isn’t spectacularly insightful. It’s often puzzling why companies pay often millions of dollars for sort of generic, straightforward advice. If you had asked around in your company, you would have gotten some similar advice. And then it’s also puzzling, the companies that give this advice, what they tend to do is hire people out of the very top schools, immediate graduates, and then a large fraction of their work force are these immediate graduates of top schools. And you got to wonder, well I’m sure they’re sharp but, you know, doesn’t it help to have some experience?
You’ll hear from a former (and admittedly disgruntled) consultant named Keith Yost, whose experience seems to justify Hanson’s skepticism:
YOST: I had conversations with sort of fellow consultants and associates and their advice was that fifty percent of the job is nodding your head at whatever’s being said, thirty percent of it is just sort of looking good, and the other twenty percent is raising an objection but then if you meet resistance, then dropping it. That was sort of the breakdown of my role as a consultant.
Google: management consulting
Done
http://freakonomics.com/2012/11/26/i-consult-therefore-i-am-a-new-freakonomics-radio-podcast/
33
2009
Kwak, James. Management Consulting for Humanities Ph.D.s
YesBlogpost
McKinsey recruits people with Ph.D.s (and certain other advanced degrees) as well because the Ph.D. is an indicator of intelligence and (to some extent) ambition, but it is considerably harder to get a consulting job as a Ph.D. from a top school than as an MBA from a top school because of the other things that an MBA signals.
Google: philosophy Phd to consulting
Done
http://baselinescenario.com/2009/08/14/management-consulting-for-humanities-ph-d-s/
34
?
Harvard Business School.
Yes
Mostly read
Web resource
Done
http://www.hbs.edu/recruiting/mba/data-and-statistics/employment-statistics.html
35
2014
Wikipedia, "McKinsey & Company."
Yes
Mostly read + notes
Wikipedia
“In a 2008 CapitalIQ study, McKinsey was found to have produced more CEOs of large companies on a CEOs-per-employee basis than any other company in the study.[66] More than 70 past and present CEOs at Fortune 500 companies are former McKinsey employees.”

“As a private firm, McKinsey is not required to disclose compensation figures. Unlike the financial services sector, consultants are not paid proportional to the business they bring in; top senior partners and the managing director have similar compensation. This was estimated to be $2–4 million in 1994 dollars ($3–5 million in 2009 dollars).[58] However, there are indications these numbers have increased ~40% in the subsequent 20 years.[59] For example, according to public tax records, the senior partner leading McKinsey's Norwegian office in 2011 earned 67 million NOK ($11.5 million USD).[60] A 1993 Fortune profile says, "The Firm places itself above discussing money as a motivation, yet senior partners often earn as much, or more, than the CEOs they advise."[61]”

“New undergraduate McKinsey recruits are paid $50 – $80,000 a year[31][38][38][55]”
“According to Financial Times journalist Duff McDonald, as of September 2013, the firm receives 225,000 employment applications annually and about one percent—or 2,200—of the applicants are hired.[3]”
“According to The Observer, McKinsey recruits fresh graduates and "imbues them with a religious conviction" in the firm, then culls through them with its "up-or-out" policy.[35] The "up or out" policy, which was established in 1951, means that consultants that are not being promoted within the firm are asked to leave.[16]:208[56] About one-fifth of McKinsey's consultants depart under the up or out policy each year.[35][37]”

"A typical McKinsey engagement can last between two and twelve months and involves three to six McKinsey consultants.[34] An engagement is usually managed by a generalist that covers the region the client's headquarters are located in and specialists that have either an industry or functional expertise.[19] Unlike some competing consulting firms, McKinsey does not hold a policy against a consultant working for two competing companies. This has sometimes lead to accusations of sharing confidential information[38] or re-packaging a competitor's practices as best practices.[7]"
McKinsey & Company, Inc. is a global management consulting firm headquartered in the U.S. The firm serves as an adviser to businesses, governments, and institutions. It was founded in 1926 in Chicago by James McKinsey as James O. McKinsey & Company and is now headquartered in New York City.

Many chief executive officers of large companies have worked at the firm. There were over 100 McKinsey offices in 60 countries as of September 2013.[3]
Google: McKinsey alumni employment statistics
Done
http://en.wikipedia.org/wiki/McKinsey_%26_Company
36
2014
Venkatraman. The Science Careers guide to consulting careers for Ph.D. scientists
Quick read
A friendDone
http://sciencecareers.sciencemag.org/career_magazine/previous_issues/articles/2014_09_03/caredit.a1400222
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