Great student turnout at the BCG ELP event.

Amit started the session with some gyaan about the process of consulting. One of the most important things is getting the framework correct. A suitable framework allows you to ask correct questions and stress test the methodology. For example, one can check if the information gathered covers the different focus areas of the framework adequately.

He also stressed on consulting being all about team work. The team is not just the consultants, but also the clients. The mantra is to work with the client to define the problem, gathering data, and ultimately solving the problem.

Mr Suresh Subudhi explains the softer aspects of consulting

Suresh covered another important part of consulting profession, the client relationship management. He emphasized on the need to align your success with the client’s and to create a trustworthy relationship between the two parties. He went on to describe some of the interesting techniques to gain the respect of the clients, while maintaining that the best way to do it was to be prepared.

This session on the softer aspects of consulting was an eye opener for most of the students. The session was followed by lots of interaction with the BCG team.

This session was attended by Ashish Iyer (Partner and Director BCG),  Navneet Vasishth (Principal) along with three ISB alums, Akshit Shah (batch of 2007), Ankush Wadhera (batch of 2008) and Kanu Julka (batch of 2009). After a brief introduction of BCG and its values by Navneet, Ashish took charge of the session.

Ashish went on to discuss the causes and effect of the current economic crisis. He delved into the details of sub-prime lending and Credit Default Swaps (CDS). This led to a very interesting discussion with the audience on the underlying reasons for the crisis and how long the recovery will take. Ashish concluded the session with a discussion of the expected effects of this crisis on Indian economy.

This was followed by a separate session between the alums and the ICON (Internal Consulting Project) teams.  The ICON teams utilized this opportunity to clarify their doubts and to get some good ideas on how to approach their respective projects.

- Ravi Krishna (class of 2010)

BCG was represented by

Akshit Shah, Senior Associate (co’2007)

Jitesh Shah, Senior Associate (co’2008)

Some of my major takeaways from the session -

* Understanding the hierarchy and growth path at BCG

* CV

CV is the most critical tool to get short-listed. Alumni help during the duration of the course to help refine it. FOCUS ON THIS WELL, starting Term-3.

* Recruitment Process

BCG would get the resumes of people (~250 in co’2009) for the job-posting. The CV is critical. The BCG shall have panels to eventually shortlist 30-40 people for the interview. There are typically multiple rounds of interview and one may be rejected at any of the rounds. BCG does take into consideration your experience, undergraduate education while short-listing.

Mantra, as I understood is-

“Did you excel?”

“Did you excel consistently?”

* Spikes

It seems that spikes are essential for Consulting J Typically the spikes can fall into the categories of academics (at ISB or pre-ISB education), work experience, Co-curricular activities, and extracurricular activities.

In general I believe the non-academic Spike is a way to measure the passion and excellence one can achieve for the activity.

Some myths-

* Becoming a Club President is not a spike. What matters more is what you do as President or while being at ISB.

* Even without being President of any club there are examples of people who work hard towards activities which were well appreciated.

Some of the examples of the X-factor that could help in shortlisting-

* Enormous patents

* Doctor from AIIMS with exceptional work experience

As a thumb rule, without any spike it is difficult to be shortlisted, 1 spike is a grey area while 2 spikes can make a strong case for short-listing.

* Life @ Consulting

The typical work hours cited was 9 am – 8 pm if you are at the base location, while working at the client side this may be higher. Typically Akshit mentioned he worked for 30% of the weekends in last 2 years.

People do manage to get married and remain married J There have been instances when ISB alumni have taken 2 months off for paternal leave or 9 months off for maternal leave.

Also it was great to know that BCG attrition ratio is in single digits and most people who leave start on their own or to take up senior positions in the industry.

* Type of Projects/ Duration

The duration of the project can vary in general, and for Akshit the average seems to be ~ 4 months, and his longest being of 7 months.

* Difference between consulting firms

Typically the top consulting firms differ in terms of work culture and strengths in verticals.

* BCG operations @ India

BCG has operations in Bombay (since 1996) and Delhi (since 2002, ~30% of work force). The staffing resource pool is common between the two centers.

Related Links:

* Boston Consulting Group (http://en.wikipedia.org/wiki/Boston_Consulting_Group)

* BCG website (http://www.bcg.com/)

– Rahul Garg, Class of 2010.