The Fast Track: The Insider’s Guide to Winning Jobs in Management Consulting, Investment Banking, & Securities Trading

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5 Responses to 'The Fast Track: The Insider’s Guide to Winning Jobs in Management Consulting, Investment Banking, & Securities Trading'

1. Anonymous - June 25th, 2010 at 12:30 pm

   This book covers a huge breadth of topics, though seems to cater to an audience consisting of student at elite schools. While offering very interesting insights into the rigors, qualifications, lifestyles, etc. associated with these prestigious industries, it seems as if there was not enough “real estate” in the book dedicated to offering full coverage about careers in these industries.

   In fact, there are books out there entirely dedicated to convering these industries. For instance, two of the better ones, Vault.com Guide to Investment Banking and Vault.com Guide to Management Consulting, cover these industries thoroughly.

   What would have made Fast Track better, was to be a bit more focused in what it offered, much like the Vault.com books. Instead of covering, what I consider 3 disparate industries, in such a short amount of pages, it could have been more effective by expanding the book, or even breaking them into 3 complete books.

   But alas, in addition to the industry specialty career books, this book is a good supplement to ambitious graduates (both MBA and college) to landing those prestigious financial and consulting positions out of school.
   Rating: 3 / 5

2. newchapter - June 25th, 2010 at 2:39 pm

   This book gives a good overview of the different facets of management consulting and investment banking. For those considering a MBA as a transition to these two career paths, this is a good place to start your research. As my personal interest is Management Consulting . . .

   1) The culture requires teamwork, high quality and constant change. “You are only as good as your last project.” (pg 44)

   2) “Most people at McKinsey don’t need to be managed. It is a different dynamic – we are coached. . . managers are graded on how well they coach.” (pg 57)

   3) Critical skills: analytical skills, individualism, interpersonal skills and intellectual curiosity. (pg 145)

   4) For interview questions concerning resume, use CAR approach:
   Context: Set the stage
   Action: What did you do?
   Results: What was the impact?

   5) Good list of interview questions (pg 199 – 200). The most interesting one I saw: “Where do you think the consulting industry is headed?”

   6) Five qualities that distinguish a great case interview:
   - structured response, shows you think clearly
   - broad perspective, shows that you cover all the angles
   - concise and linear manner of thinking and communicating
   - business judgment, shows you can find the high-impact areas
   - creative insights, shows that you can come up with ideas on your own

   Another good resource for basics of management consulting:
   …
   Rating: 5 / 5

3. Jussi Bjorling - June 25th, 2010 at 3:12 pm

   This book does a pretty good job of explaining how these businesses work and how they recruit. However, it isn’t going to be very helpful if you’re looking for a job. These places look for people with the right background, the right skills, and only then does it matter how many books you’ve read or how many case questions you’ve practiced. By all means, read this book, but it’s more important to work on your connections and make sure your resume’s content (not its form) is strong.
   Rating: 3 / 5

4. MC_5 - June 25th, 2010 at 3:29 pm

   Fast Track is a well written book about jobs in consulting and investing. It is written by a woman who has been both a consultant and an investment banker. The book is full of valuable information regarding interviews, cover letters, resumes, and basics of the jobs. But DO NOT use this book by itself.

   First of all, the directory in the back of the book is full of time sensitive information. It is also recommended in the book that you go to the company’s web site before you send off an application. If you are interested in consulting, get books specifically written about case questions. If you are interested in investment banking, make sure you have a strong background it what exactly investment bankers do, because the book doesn’t really give you a good idea.

   A few more points:

   Although the book is written by a female minority, the book has nothing about minority hiring programs. If you fit the bill, it would be worth your while to investigate that.

   The book is specifically written for those who have 4.0 GPA’s at UPenn, Harvard and Stanford. It devotes a little time to the “non-targeted,” but it’s pretty clear that if you don’t have the grades, and you don’t go to the right school, then you don’t have a chance. Talk to your career counselor about grads from your school that may have made it in the field you’re interested in.

   The book is trying to entice you into becoming an investment banker or consultant. Although it tries to be unbiased, it is clear that it doesn’t provide the big picture. Read books like “Liar’s Poker” and “Monkey Business” if you want an honest look into the professions. Your best bet, however, is to find someone who is in your field of interest, and interrogate them. Only then can you get the full picture.
   Rating: 4 / 5

5. Anonymous - June 25th, 2010 at 4:17 pm

   I am a top student from a solid, tiny “untargeted” liberal arts school. It seems to me that the advice in this book is for elite students who already have an enormous advantage. They are not the ones who need the insight; those who seek consulting jobs and are not from ivy league schools deserve better advice. If the school on your degree is not “brand name”, you’re better off seeking advice from more optimistic and realistic books. Ms. Naficy’s book is depressing and her perceptions are skewed. I put down the book with the most unsatisfied feeling, and called my academic advisor (who is a consultant herself) for the best advice.
   Rating: 2 / 5

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