From Backlogs to Boardrooms Pt.2

Welcome back to the second half of the interview ! After tracing Shivam Jha’s undergrad journey ,this part deals with his MBA journey and corporate rise.

Small Recap about him for our new reader: From a rocky start with a 3/10 GPA, Shivam transformed challenges into opportunities—co-founding 180 DC DTU, leading 180 Degrees Consulting globally as COO, and now excelling at powerhouses like JPMorgan Chase, McKinsey, and PwC.

Q) Is an MBA worth it, or does real-world experience—through corporate work or entrepreneurship—serve as a better teacher? For a consulting career, does the structured learning, networking, and brand value of an MBA justify the cost ?

If you ask someone who has pursued an MBA, they will likely say it is worth it.

I understand the arguments against it, but objectively speaking, it depends on what you make of it. You will meet individuals from top MBA programs who are unsatisfied with their outcomes and others who believe they could have done better.

The value of an MBA is highly individualistic. Unlike engineering, where most students have similar academic backgrounds and inclinations, an MBA brings together people from extremely diverse fields. The transition from an engineering-focused classroom to a business-oriented one adds significant intangible value beyond academics.

This is why people return to business school even after gaining four to five years of work experience. While working, you acquire skills and improve your performance, but advancing in your career often requires experiences that only a structured academic setting can provide. 

Beyond classroom learning, the value of an MBA lies in networking, competitions, exchange programs, and internship opportunities that allow career pivots while offering a chance for reinvention. It provides the flexibility that career shifts through job changes do not.

If you have a clear vision, the degree gives you a shot at ample opportunities. It serves as a launchpad for leadership roles, particularly in banking and consulting, positioning professionals at the C-suite level early in their careers. Ideally, gaining at least a year of corporate experience before going to a B-school is super helpful.

Academically, IIMs are among the most rigorous institutions worldwide. The level of pressure in the first year, particularly in the initial term, is intense. Indian B-school culture is highly competitive and, at times, even toxic. However, finding the right peer group—perhaps 50 exceptional individuals in a batch of 400—is key to ensuring a positive experience.

Initially, I was set on a consulting career, assuming I would return to McKinsey post-MBA. However, during my summer internship, I explored banking, a field I had not previously considered. Working in an international office for two months proved to be a rewarding experience, leading me to accept a full-time offer.

A book I recently read, "You Haven’t Heard Your Favorite Song Yet," illustrates this idea—there may be career paths suited to you that you have not yet discovered. This is the flexibility a management degree would provide you with.

Deciding between an Indian and an international MBA depends on career aspirations, preferred work location, and financial considerations as studying abroad is significantly more expensive. I had not initially planned to pursue an international MBA due to cost constraints, but after enrolling at IIM Calcutta, I learned about a dual-degree program with CEMS. The opportunity to earn two degrees made it a compelling choice.

Q) We also wanted to know about the entire application process for the CEMS MIM program and whether you had a strategy that helped to secure the top rank in college.

To be honest, I had no specific strategy. Getting into CEMS is a competitive process that begins after admission to IIM Calcutta. The CEMS program is unique because only one college per country is affiliated with it. In India, it is IIM Calcutta; in France, it is HEC; in the UK, it is LSE. Each college has a different selection process internally.

The application process starts in the second term, and is not correlated with your academic rank. I did not prioritise academics in the MBA either, so that was a relief for me. Instead, the selection process emphasises a well-rounded profile, requiring an SOP, extracurricular involvement, and international experience.

After the initial screening, shortlisted candidates proceed to an interview, which carries about 50% weight in the selection process. The final merit list is then prepared, allowing students to choose their preferred college based on rank.

It is easy to present an idealised version of yourself in an SOP, but the interview process ensures authenticity. If you cannot substantiate your claims with concrete evidence, they hold little weight.

Is there any specific reason you chose HEC Paris?

My options included HEC, Esade, LSE, Bocconi, and several others. Ultimately, I chose HEC because of its strong reputation in Europe and I had always romanticised the idea of living in Paris. Additionally, I wanted to travel extensively during my exchange, and Paris, being centrally located in Europe, made it convenient.

How do consulting firms like McKinsey or PwC compare to corporate environments like J.P. Morgan? Are the cultures and practices similar, or does each company have a distinct way of working?

It is difficult to categorize institutions in terms of culture because workplace culture is largely defined by the people you work with, particularly your managers and colleagues. This varies even within the same company.

That said, consulting offers a distinct lifestyle. It is fast-paced, rigorous, and often exhausting, but also highly rewarding. If you enjoy solving problems and working on high-impact, short-term projects, consulting is an excellent place to start your career. However, if you do not thrive under high-pressure environments or prefer hands-on operational work, it may not be ideal.

I believe storytelling is an underrated skill that is essential to consulting - along with strong communication skills. Translating clarity of thought into clear speech and writing is surprisingly something most people do not excel at.

In contrast, finance offers diverse roles. Investment banking shares similarities with consulting, as both are client-facing and project-driven. However, my role in strategy and corporate development is more akin to internal consulting for the company. The finance industry is often perceived as highly demanding and male-dominated. Fortunately, I work in a team with a strong female presence, which positively influences the culture in terms of empathy, understanding, and communication. While generalisations based on gender or demographics are not entirely fair, my personal observations have notable differences.

One aspect where McKinsey excels is in maintaining institutional knowledge. The level of internal resources and access to expertise is unparalleled. The same applies to J.P. Morgan. If you start your career at a top-tier firm, it is imperative to make full use of the resources and opportunities available. If you do not extract the maximum value from your time at the company, you miss out on significant learning experiences.

Q) In consulting, there is a well-established culture of frequently switching companies. Typically, professionals work at a firm for about two years before moving on—often for a better package or broader opportunities. When is the right time for a consultant to consider changing firms?

I enjoyed my time at PwC and found it to be a great firm. My division was particularly supportive, and since it was my first job, I wanted to give it enough time before deciding whether it was the right fit for me. When I started looking for a switch, I applied to the MBB firms and received offers from all of them. The final decision came down to reputation, and I ultimately chose McKinsey based on that factor.

Applying with referrals can improve your chances but is not a necessity. I only applied through open portal job postings. While looking for a switch, compensation is usually the biggest factor but learning opportunities, work culture, and career progression, should also be weighed carefully. Additionally, market conditions should be taken into account. If you have a stable job in a volatile market, it is important to evaluate the risks before making a move.

Q. Consulting is often seen as a stepping stone to other roles, so how do you see it shaping career transitions into fields like maybe entrepreneurship or private equity or strategy roles like yourself. 

Consulting is often viewed as a stepping stone to various roles, including entrepreneurship, private equity, venture capital, and corporate strategy. As it is highly generalist in the early years with a lot of transferable skills, the transition into other fields is quite smooth. While specialization may occur at a later level, early-career consultants work across industries and functions, which provides broad exposure.

Within a short time, consultants are expected to develop expertise in unfamiliar sectors. For instance, if working on a healthcare project, consultants may have no prior experience in pharmaceuticals. Yet, within a week, they are expected to take expert calls, map industry value chains, and understand key dynamics to advise clients who have decades of experience in the field.

This accelerated learning process helps consultants develop an external perspective, which is highly valued by clients. Organizations often operate in silos, and consultants provide fresh insights by analyzing industry-wide best practices. This ability to step back and view challenges from a broader lens is particularly useful in entrepreneurship, where problem-solving is continuous.

You are trained to break down problems systematically, prioritize key issues, and develop structured solutions. This approach proves invaluable when transitioning into other careers. Ultimately, consulting serves as a strong launchpad for the first two years of a career. After that, professionals have a wide range of opportunities to choose from, whether in finance, entrepreneurship, or corporate strategy.

We hope you enjoyed reading the article and learned a lot!!! 😀 

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