In this article we highlight some key points about “Impact Consulting” along with some key insights on Dalberg as a management consulting firm.
Key difference between Dalberg and MBB-
Dalberg is a highly specialised consulting firm focusing on social impact work. This positions Dalberg in a super niche category when compared to other top management consulting firms.
Strategy consulting firms like MBB offer services to various industries in the form of projects in several practices. If we look at Mckinsey, they have strategy work in practices like Finance, Public sector, and organizational transformation to name a few.
Hence beginning your consulting journey at a general management consulting firm would position you as a generalist working on a range of projects across sectors. This also comes with the support of a wide network of experts from within the firm and across industries.
However, at Dalberg, one gets to specialise and form a niche quickly due to the focus on social impact work. For instance, one can become an Inclusive finance specialist along with the support of a niche network of experts and individuals.
When it comes to work and brand value, general strategy firms work with Top management of companies to enhance business strategies. Similarly, Dalberg engages around strategy related work with Top leadership from companies specialising in the social impact space, for example Asian Development Bank.
Hence, similar to Top tier general management consulting firms, Dalberg has also built an extremely strong brand value with employees and alumni coming from top business schools like HBS, Stanford and INSEAD.
For aspiring consultants and individuals looking forward to being part of the social impact space, Dalberg looks at two sets of qualities in future employees. Firstly, having general management skills like leadership, problem solving, and team management are essential, similar to any management consulting firm. Secondly, Dalberg focuses on your interest and experience in the social impact space.
Following are three key areas to highlight in resume while applying to an Impact consulting firm-
- Firstly, individuals should highlight their general management skills like leadership at university or at work. For instance, highlight your involvement with the consulting club at the university.
- Secondly highlight your interest and experience in social impact space through volunteering and actively participating with NGOs and performing consulting related work.
- Consulting experience with companies in the social impact space like Non-profits, World bank, ADB and Bill & Melinda gates foundation is extremely beneficial.
Students can take note of the following profile building tips while applying to Dalberg-
- Preparing the resume- High GPA and relevant projects, international assignments in consulting, volunteer work with NGOs highlights one’s interest in social impact quite well.
- Build social sector knowledge- Understanding current trends and key concepts about the industry is essential. For instance, one can read articles and reports about public schemes and impact investing etc
- Solve Cases regularly- Through practicing cases, one can understand solving business cases like a management consultant. This is also an essential part of the hiring process in most consulting firms
Young professionals can focus on building transferable skills that highlight interest in social impact. For instance, a finance professional can opt to work with the CSR team of their organization.
Working professionals can also indicate a strong connection with the social impact space can be done through volunteer and Probono work.