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Management consulting is one of the most competitive fields to break into, but one way to get your foot in the door and guarantee a spot after business school, is through a summer internship. 

The consulting industry is among the top two fields that turn internships into full-time positions, as firms have a conversion rate of about 38%, according to a 2017 LinkedIn report. Amid the coronavirus pandemic, firms are also showing a greater commitment to summer interns, as leading consultancies like McKinsey, Bain & C0., and PwC extended full-time offers to more 1,500 students before their summer programs even started. 

Business Insider’s analysis of 2019 and 2020 salary reports by Management Consulted, a careers resource company that helps graduates land consulting jobs, suggested that top-tier firms have been increasing their hourly rates for both MBA interns and offering tuition reimbursements for their retained talent. Accenture Strategy, for example, added a $50,000 tuition reimbursement after taxes to their compensation package this year.  

“They’re looking to fill their pipeline of future leaders, but there’s a limited number of top talent — that’s what makes it tough,” said Namaan Mian, director of operations at Management Consulted. “That’s why …read more

Source:: Businessinsider – Finance


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