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Diversity in background not in IQ
Before joining consulting I performed analytics to identify target schools for one of the largest pharma companies in the world. It included breaking down candidates by school including performance reviews, salary increases, promotions, etc. . They actually stopped recruiting at Ivy League and prominent business schools because they found they got better returns from candidates from smaller schools. In the words of the CFO, "we need people who made it here - not people who were brought here". Interesting experience.
I think it's hilarious that everyone on this thread thinks that the big 4's target schools are the cream of the crop
OP, I agree that the whole target school obsession gets in the way of real diversity. At least in the midwest, it's big 10 douche-bros for the most part. It's not about intelligence, it's about cultural fit. Which is important I guess, but also creates a pretty homogenous (read: non diverse) work environment. ^My two cents.
Big 4 gives way to much bias to target schools. I get the rationale is that you "know what you're getting", but getting in from a non target school is like running up hill into the wind, barefoot and while it's snowing. And then if you come in with an MBA from a non target school, they treat it like another firm would treat a GED.
Diversity at most firms refers to postcard diversity only
I got my undergrad from a target school and MBA from non target. They behaved as if my MBA was non existent.
Once you are in, they know you so your background means fuck all
Lol, you thought diversity meant ability diversity, too? Like, firms intentionally hired incompetent people for diversitys sake? 😂
It's funny too because I've been in a lot of peals and not once has the client asked where the team went to college.
Can confirm that's still the case A1. Uncle D automatically brings ppl in at SC level (with fat salary and fat signing bonus) as long as they came from one of the target schools. Other MBAs are brought in at C level and roughly 30% less pay with the same signing bonus undergrads get.
Blows that is the truth.
Rankings like most of what consulting is about is all about branding. Its an easier sell to a client to have a gtech analyst than a clemson grad
Then again I failed to get admitted to a target MBA program. I respect the people that did and admit they deserve a bump since they are coming from a 5-8% selection school. It's how the world works, its not about fairness it's about self interest. This serves the interest of the firm. A fat pay and signing bonus are needed at target schools because those guys have other strong options as well so our firms need to compete with the big banks and Silicon Valley. I'm at peace with this reality.
Do the math using growth and attrition to calculate the number of new hires that come into each of the big 4 every year. Then factor in the number of candidates that must be screened to make just one hire and how much time is spent on each of those candidates. This is why these firms have target schools. It's a hiring machine and this is one way to keep the input manageable.
@Deloitte 5 - That's some interesting work! Thanks all.
LOVE that quote D5
Alignment within the firm is interesting too. My school is only aligned to Tech when my skill set was much more operations. I think I could have added a lot more value in S&O my first few years rather than having to learn a completely new skill set for tech