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Categories : Insead, MBA Consulting

Insead MBAIn the Second Part of the Interview with Minh Huy Lai, the Managing Director of INSEAD MBA Programme, we discuss the Admission process (Essays, Recommendation Letter and Interviews), the entry criteria (GMAT, International Exposure, Experience), and the scholarship opportunities for MBA Applicants.

Read the first part of the interview to learn about INSEAD's MBA Curriculum, Campus Structure and the program's success in attracting top recruiters from Management Consulting.

Are there any criteria in terms of International exposure when you accept INSEAD candidates? Should they have travel experience or is it just working with an International (Multinational) company that counts?

 
Minh (INSEAD MBA): First, let us discuss what International experience means. An applicant might be working in their home country for an International company, but if they have traveled and stayed in another country for work, we consider it an international experience. Or they should have worked with an international team and interacted with them on a regular basis. Even if the applicant has no...

Categories : Insead, MBA Consulting

Insead MBAAtul Jose, Editor of F1GMAT, Interviewed Minh Huy Lai, Managing Director of the INSEAD MBA Programme to get a first-hand view of the curriculum, post-MBA opportunities, Campus structure, INSEAD's dominance in Management Consulting and the Admission process for the full-time MBA.

How does INSEAD complete the core and electives in such a short period (10 months) compared to US Business Schools that are typically 2-years in duration?
 
Minh (INSEAD MBA): When you look at the average age at INSEAD, it is 29. Our class is quite older. Students with considerable experience absorb faster. Another thing is that our Founder was an educator at Harvard Business School. He realized that we could deliver the same quality at a much shorter time. Our classes are longer in duration with a typical break at INSEAD ranging 3-4 days instead of 1-2 weeks that you see in US Schools. Our program is much more intense. That is how we cover so much in a short period. We have done that for 58 years. Recruiters will never come to us if we are not delivering on the quality of students at INSEAD. That is why INSEAD has...

Categories : MBA Consulting, Top MBA

Top MBA Management Consulting CareerManagement consulting is a coveted career choice for many MBA aspirants and even experienced professionals. A consulting career can be very rewarding in terms of the sheer responsibility that the job entails, travel and networking opportunities, and the paycheck. If you want to know how Management Consulting became a favorite for MBAs, read The History Of Management Consulting and the Influence of Marvin Bower in Management Consulting


According to the Bureau of Labor Statistics, employment in the management, scientific and technical consulting industry is expected to grow by 2.4% by 2024 with 1.57 million jobs added in the market against the national average job growth of 0.6%. Among the fastest growing jobs in the US - Market Research Analysts and Marketing Specialists is estimated to add 587,800 jobs by 2024. The mean annual wage of management analysts across industries was recorded at $...

Categories : MBA Consulting

Arthur D Little, the Chemical Engineer, was a pioneer in Industrial research and introduced Unit Operations, the bedrock for Chemical Engineering. He was also key to discovering Cellulose Nitrate, which eventually became Celluloid that had applications in Photography, X-Ray and moving pictures. Arthur began practicing in technical research and consulting from 1894. In 1909, he incorporated the  Arthur D Little Inc., the first company to offer professional services in Scientific Studies – a comparative study that designs and tests hypothesis, and identifies the multiple variables and causal relationship between risk factors and the output. Scientific studies evolved and later became Management Consulting, which was first offered as a standalone service by Frederick Winslow Taylor, in 1893.

Taylor's method

Management Consulting started as a mean to address the complexities of the industrial revolution – managing cost in Factories, developing an efficient supply-chain and offering solutions that created systems to solve the recurring problems in Manufacturing. When Founders took their companies public, shareholders, who had no oversight into the daily challenges of the operations, became part owners. The demand for growth in Earnings Per Share brought in the new breed of 'Managers', who was paid...

Categories : MBA Consulting

Although James O. McKinsey is a recognizable name in the public domain as the pioneer who found McKinsey & Company, Marvin is regarded as the Father of Modern Management Consulting. Marvin entered the consulting Business in the 1930s, at a time, when Management Engineering was deemed a snake oil Business with the intent of manipulating Businesses into paying for the obvious conclusions. Marvin changed the dynamics by bringing in ethics, objectivity and a strong sense of supporting the client's goals over his company's revenues. He hated the term 'Business' and preferred instead to use the word 'practice.' Even now, the lexicon is used in any publications that cover 'consulting.' When he began his career with the law 'firm' Jones, Day, Reavis & Pogue, the opportunity arose to work as a secretary for committees that dealt with bondholders of companies in the red. The curiosity to find why the companies were failing led to Bower's foray into consulting.

In 1933, Marvin was Interviewed by James O McKinsey, a former University of Chicago professor, who started an accounting & Engineering firm to offer professional services for Businesses. Bower pitched the idea to change the directions from services to a Management firm. McKinsey liked the idea and offered Bower the job. Within four years, McKinsey died from Pneumonia. At that time, A.T. Kearney was the favorite to replace the Founder. With the...

Categories : MBA Consulting

BCG MBAThe Boston Consulting Group is a Boston based Management consultancy company rated as one of the best in the industry specialized in offering management and strategy solutions. Bruce Henderson joined the Boston Company in 1963 and started a ‘one-man-one-telephone consulting unit’ called The Boston Consulting Group (BCG).  It is noteworthy that Bruce D Henderson was a student in Harvard Business School and left three months before graduation to pursue his entrepreneurial dream. He started the Boston Consulting Group as a single consultant firm, which grew quickly and steadily, contributed primarily by his persistence and his strategic hiring that introduced new concepts to the management consultancy arena.

Ranked number 3 in Fortune’s  2014 ‘100 Best Companies to Work For’, Boston consulting group is one of the pioneers to focus on ‘business strategy’ and make it their unique selling point to outrun many competitors. Henderson’s vision kick started with a strategy as simple as publishing newsletters called ‘Perspectives’ that discussed debatable and conflicting theories, opinions and strategies which engaged and compelled readers and conference attendees to turn into clients. The Boston Consulting Group offers advice to more than two-...

Categories : MBA Consulting

Consulting is a prestigious career choice. Many graduates and professionals are lured by the intellectual challenges and financial rewards. So how do you become a management consultant and why do so many people feel that an MBA is essential?

Basic Educational Qualifications for a Consulting Career

Generally, a management-consulting role requires a university degree. While graduates from almost any kind of discipline occupy this role, a degree in business, economics, finance, engineering, mathematics and other programs that are Quant focused, gives the candidate a competitive edge.

Contrary to popular belief, an aspiring consultant does not need an MBA to break into this industry. Even a postgraduate degree is not a requirement, but the additional qualification tends to come handy during day-to-day operations.

An MBA does not guarantee success as a consultant. The competition in management consulting is extremely intense and top tier firms tend to set a high task completion standard. So aside from basic educational qualifications, you should be a self-starter and a quick learner.

Why Most Aspiring and Professional Consultants Get an MBA

While it is optional to get an...




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