Here is more information about management-consulting firms that seek Ph.D.'s, as well as other resources about management consulting.
Firms
Boston Consulting Group B.C.G. was founded in 1963 and has approximately 2,100 professionals working in more than 40 offices around the world. Approximately 8 to 12 per cent of B.C.G.'s new hires have Ph.D.'s. The company has a three-week training program for new non-M.B.A. recruits in "business essentials," but consultants work in an apprenticeship model, so they get on-the-job training throughout their careers. Ph.D.'s and M.B.A.'s join the firm as consultants; undergraduates are hired as associates. B.C.G.'s Web site features sample case-study questions, which are business problems designed to assess a candidate's ability to think logically. Candidates should expect to encounter case-study questions in an interview. The site also contains useful tips about résumés and cover letters.
Dean & Company This firm was formed in 1993 and has approximately 60 consultants working out of a single office near Washington, D.C. Twenty-five per cent of the firm's professional staff members hold Ph.D.'s. Dean offers a two-week entry-level training program that introduces new recruits to the basic concepts of business, and new employees gain experience by working in teams with more experienced staff members. The company has a separate entry-level position, "consultant," for new Ph.D. hires, which falls between "analyst," the entry-level position for undergraduates, and "associate," the entry-level position for M.B.A.'s.
McKinsey & Company McKinsey was founded in 1926 and has 5,152 consultants working in 79 offices around the world. About 25 per cent of the firm's consultants have Ph.D.'s -- McKinsey has actively recruited Ph.D.'s for more than a decade. Fifty-seven per cent have M.B.A.'s, while the remaining 18 per cent have M.D.'s, J.D.'s or other master's degrees. McKinsey runs a three-week mini-M.B.A. training program for Ph.D.'s; it introduces new recruits to topics ranging from economics and finance to strategy and marketing, although staff members receive training throughout their careers. New Ph.D. and M.B.A. hires enter the company in the associate position; people with undergraduate or master's degrees start as business analysts. McKinsey's Web site features a sample case-study problem to help potential employees familiarize themselves with questions they may be asked in an interview.
Monitor Company Founded in 1983, the Monitor Company has roughly 850 consultants working in 25 offices worldwide. Twenty-five per cent of the firm's consultants have advanced degrees other than the traditional M.B.A., with an increasing number having Ph.D.'s. Another 25 per cent have M.B.A.'s, and the other 50 per cent hold only undergraduate degrees. The company's organization is non-hierarchical; everyone on the staff has the title "consultant." The firm makes no distinction between Ph.D.'s, M.B.A.'s, or undergraduates. All consultants undergo formalized training throughout their careers with Monitor, though much of the training occurs on the job.
Other Resources
Harvard Business School Publishing A simple search for "management consulting" will yield a plethora of books and other resources, which may be purchased directly from this Web site.
Management Consulting Online This Web site, created by a finance professor at Ohio State University and students from the Ohio State Management Consulting Club, is devoted to careers and trends in management consulting. The site features job listings, a directory of companies, a résumé bank, salary information, and links to articles and books on management consulting.
WetFeet.com This Web site features an overview of the consulting industry, information on specific companies, a sample profile of a consultant, along with general career advice. WetFeet also publishes several useful insider guides to consulting (including a guide for Ph.D.'s), which may be ordered from the site for about $25 each.
Vault.com This career Web site has a lot of useful information about management consulting -- including an industry overview, information about consulting companies, links to articles and books on consulting, job listings, and useful hiring tips. Books and newsletters on management consulting may be purchased on the site.
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Management consulting: a hot, new career choice for Ph.D.'s
