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21 May 2009, 19:30
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Hello All,
I am currently at a top 10-15 ish bschool (finishing up 1st yr), with about 6 years of tech experience, mainly in small companies. Baaaad GPA. I really wanted to get into strategy consulting at MBB, and Asia in particular, so I networked quite a bit and landed an interview at Bain Asia for the summer internship position. Got to 2nd round but no offer. No interviews from McK or BCG, I assume due to GPA.
For the summer, I will be working at a Singapore-based VC firm with US 1.3 billion AUM. I will be working in their new China office..they seem to be doing well and are quite active there. The firm itself is the venture arm of a much larger SWF. I am not sure what I will be doing as the internship is not very structured (like most VC internships), but I do know it will be mostly front-office type of work (NOT fixing computers, making coffee lol)
This seems like a pretty good gig for the summer, but I doubt they will be giving an offer full time since landing a full time gig in VC is so hard. Assuming I do not get a full time offer:
1) How does a VC internship look for MBB recruiting full time this fall?
2) Will a good internship + networking overcome low grades for MBB?
3) Does anyone have updated knowledge on the status of full time hiring at MBB for this fall, class of 2010? I know economy sucks and all the big 3 have laid ppl off, reduced the size of their 09 intern class, and also deferred their 09 FT offers...this sounds to me that for 2010 they will hire close to ZERO, espeically in their smaller asia offices. If they give any FT offers it will probably go to their interns I assume. Agree?
Let me know yout thoughts, thanks.
I am currently at a top 10-15 ish bschool (finishing up 1st yr), with about 6 years of tech experience, mainly in small companies. Baaaad GPA. I really wanted to get into strategy consulting at MBB, and Asia in particular, so I networked quite a bit and landed an interview at Bain Asia for the summer internship position. Got to 2nd round but no offer. No interviews from McK or BCG, I assume due to GPA.
For the summer, I will be working at a Singapore-based VC firm with US 1.3 billion AUM. I will be working in their new China office..they seem to be doing well and are quite active there. The firm itself is the venture arm of a much larger SWF. I am not sure what I will be doing as the internship is not very structured (like most VC internships), but I do know it will be mostly front-office type of work (NOT fixing computers, making coffee lol)
This seems like a pretty good gig for the summer, but I doubt they will be giving an offer full time since landing a full time gig in VC is so hard. Assuming I do not get a full time offer:
1) How does a VC internship look for MBB recruiting full time this fall?
2) Will a good internship + networking overcome low grades for MBB?
3) Does anyone have updated knowledge on the status of full time hiring at MBB for this fall, class of 2010? I know economy sucks and all the big 3 have laid ppl off, reduced the size of their 09 intern class, and also deferred their 09 FT offers...this sounds to me that for 2010 they will hire close to ZERO, espeically in their smaller asia offices. If they give any FT offers it will probably go to their interns I assume. Agree?
Let me know yout thoughts, thanks.
21 May 2009, 23:13
Kudos
Bookmarks
No clue how VC will be looked at...I dont think VC internships are a huge feeder since I doubt interest overlaps too much (probably true of many things outside internal strategy, operations, and GM) and I dont think M/B/B is doing much consulting work for VC firms like they do for PE and IBs. But they do care about how smart you are (unfortunately GPA/GMAT plays a role in that), ability to nail their cases, and anything special you will bring to the table. In the past plenty of folks end up with fulltime jobs at the big MC firms without an internship at them.
From what I have heard...tons of FT offers are being pushed back. Lots of start dates are now Nov 09 - Feb 10 vs typical Aug/Sept start. There isn't a ton of work and plenty of consultants are not on projects. I would not be shocked to see some offers rescinded and/or the up or out level changed. Instead of 10% they could repeat what happened in the winter of 2002 and increase that percentage drastically.
Rumors have it that outside of interns there will be very very few offers for fulltime people next year. Certain offices are doing much better than others, so you might get lucky but that really depends on location. Remember beyond interns from MBA's, the top firms also have all their sponsored folks. In a good year here they may give 50+% of their fulltime offers to folks who aren't sponsored or their interns but I doubt that will be the case next year. One thing to look at is how they recruited at your school for fulltime folks...did they expand well beyond their interns or not. I bet at some schools where they only take a few fulltime, most of those were interns.
From what I have heard...tons of FT offers are being pushed back. Lots of start dates are now Nov 09 - Feb 10 vs typical Aug/Sept start. There isn't a ton of work and plenty of consultants are not on projects. I would not be shocked to see some offers rescinded and/or the up or out level changed. Instead of 10% they could repeat what happened in the winter of 2002 and increase that percentage drastically.
Rumors have it that outside of interns there will be very very few offers for fulltime people next year. Certain offices are doing much better than others, so you might get lucky but that really depends on location. Remember beyond interns from MBA's, the top firms also have all their sponsored folks. In a good year here they may give 50+% of their fulltime offers to folks who aren't sponsored or their interns but I doubt that will be the case next year. One thing to look at is how they recruited at your school for fulltime folks...did they expand well beyond their interns or not. I bet at some schools where they only take a few fulltime, most of those were interns.
21 May 2009, 23:52
Kudos
Bookmarks
Are the bad grades from B-school, or undergrad. I obviously am not in B-school yet and don't know too much about this. Do potential employers look at your undergrad grades as well as your GMAT score, just like a school might?
