#12 - Jen Kim (BCG, Baird, Wind Point) | Consulting, Private Equity, Investment Banking
Mar 18, 2024
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Experienced professional Jen Kim discusses her career in banking, consulting, and private equity. Topics include decision-making, consulting interviews, work-life balance differences, client buy-in, overcoming imposter syndrome, gaining professional skills, qualities of a good consultant, and transitioning to private equity.
Effective communication and storytelling with data are essential in consulting to convey insights clearly to clients.
Receiving regular feedback in consulting helps in professional development and continuous improvement.
Good project leaders in consulting excel in stakeholder management, providing strategic feedback for growth and learning within teams.
Deep dives
Consulting Skills and Managing Client Expectations
In consulting, effective communication and storytelling with data are crucial skills to convey insights clearly to clients. Consultants also need to be dynamic and able to quickly grasp information about new industries or businesses to provide valuable insights and strategy recommendations. Managing stakeholder expectations and providing context helps in getting buy-in from clients, especially when tackling complex and substantial problems that require strategic solutions.
Feedback Culture and Professional Development in Consulting
Consulting firms like BCG emphasize a strong feedback culture where consultants receive both informal and formal feedback on various dimensions such as execution, quality of work, and communication. Feedback is provided regularly throughout the project to help consultants continuously improve. The feedback loop helps in professional development and ensures consultants can adapt and grow based on constructive insights.
Senior Leadership Qualities and Feedback Loop in Consulting
Good project leaders (PLs) in consulting excel in stakeholder management, ensuring client expectations are well-managed and projects stay on track. They provide proactive feedback and create an environment where consultants feel empowered to ask questions and seek guidance. PLs play a key role in developing junior consultants by offering strategic feedback on communication, problem-solving, and overall performance, fostering a culture of continual growth and learning within consulting teams.
Insights on a Consultant's Daily Tasks
A consultant discussed the daily routine, which includes spending time aligning with clients and the team on project scopes and milestones. Much of the day is dedicated to tasks like data gathering, conducting expert interviews, and forming hypotheses. The consultant also focuses on translating information gleaned throughout the day for internal updates and client meetings.
Transition from Consulting to Private Equity
The transition from consulting to private equity was highlighted, showcasing the unique blend of skills acquired from banking and consulting experiences. The candidate's role in private equity involved a mix of deal origination, due diligence, and operational responsibilities. The interviewee emphasized the importance of self-reflection and career exploration as motivating factors for pursuing business school after experiencing the demanding yet fulfilling nature of private equity work.
⏱Timestamps⏱ 00:00:00 - Introduction 00:01:51 - Jen's personal and professional overview 00:03:55 - Decision to enter banking 00:05:40 - Banking experience and group joined 00:08:11 - Preparation for consulting cases 00:11:17 - Consulting interview process 00:17:45 - Practice for consulting math 00:18:53 - Work-life balance in banking vs consulting 00:25:43 - Explaining the value of consultants 00:30:08 - Partners' specialization in consulting 00:31:38 - Client buy-in at different levels 00:34:57 - Overcoming imposter syndrome 00:36:55 - Gaining professional skills from consulting 00:45:08 - Responsibilities 00:49:00 - Impact of travel on work-life balance 00:51:06 - Qualities of a good consultant 00:56:11 - Decision to switch to private equity 01:09:24 - Reason for leaving private equity for business school 01:11:56 - Advice to younger self
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