The Consulting Industry: High Starting Salaries That Outshine Typical Graduates

Elite training with heavy investment in talent development

Participation in global projects with an international perspective

Expansive networking opportunities – Up! Up! Up!

Wow!This sounds like the dream job!

But do you really understand the consulting industry?

A true strategist never goes into battle unprepared.

Let Blossom guide you into the world of consulting—here’s what you need to know!

1. Consulting Categories You Should Know

The traditional consulting industry includes:

• Management Consulting

• Technology Consulting

• Information Consulting

• Engineering Consulting

• IT Consulting

• Policy Consulting

• Strategic Consulting

• Career Consulting

• Legal Consulting

For business students, consulting typically refers to "Strategy & Management Consulting."

2. Entry Requirements You Should Know

• Major: Generally open to all (70% in the industry have business backgrounds)

• Relevant expertise/degrees for specific roles

• Bilingual proficiency (Chinese & English)

• Internship experience:

  • PTA at consulting firms

  • Finance/IB internships

  • Internet strategy roles

  • Big Four talent programs or winter/summer internships

  • Consulting Summer Internships

• Teamwork spirit

• Ability to learn quickly under pressure while maintaining logical clarity

• Exceptional problem-solving and analytical skills

• Willingness to travel for assignments

3. Career Paths You Should Know

General Consulting Firms

• Analyst: Fresh grads/Master’s holders/1–2 years of experience. Tasks: data collection, research, reporting, modeling.

• Senior Analyst: Promotion after 1–2 years.

• Consultant: Owns project workflows, analysis frameworks, client presentations, and daily client/team communication.

• Manager: Typically post-MBA with industry/functional expertise (e.g., healthcare, auto, finance, marketing, tech).

• Associate Principal: Bridges project management and firm operations.

• Partner: Oversees firm-wide sales/service and approves projects.

  
  

Top-Tier Firms (e.g., Bain & Co)

• Associate Consultant (AC): Entry-level; supports industry/client research.

• Senior AC → Consultant (post-MBA) → Manager (2–3 years) → Managing Director (MD) → Partner (performance-based).

  
  

Alternative Career Paths

1. MBA: Sponsored by firms, with accelerated promotions post-degree.

2. Corporate Strategy: Transition to in-house roles (e.g., tech, operations).

3. Investments: Move to VC/PE leveraging industry insights.

4. Entrepreneurship: Launch ventures inspired by consulting exposure.

5. Other Paths: Academia, nonprofits, freelancing.

   

4. The Notorious Acceptance Rates

• MBB (McKinsey, BCG, Bain):

  • 100K+ applications, <3% resume pass rate, <1% hiring rate.

  • McKinsey China (2017): 330K applicants → 173 offers (0.5%).

• Tier 2 Firms: <2% acceptance.

• Big Four: <5%:

  • EY: 2M applicants → 69K hires (3.5%).

  • Deloitte: 1.8%.

  • PwC: <4%.

  • KPMG: ~4%.

2020 Crisis Context:

• 8.74M Chinese graduates; 60%+ jobless.

• Consulting layoffs/hiring freezes; 15%+ U.S. firms canceled summer internships/revoked full-time offers.

  

Blossom’s Advice

• Students: Build skills/networks—opportunities will come.

• Graduates: Stay prepared; any internship can unlock doors.

  
  

Investment banking, Big Four, consulting internships—all at BLOSSOM!

Scan the QR code below to contact our assistant and catch the summer internship train! 🚀