Internship Diaries of 2021: Consulting at Boston Consulting Group

Internship Diaries of 2021 is a series about the various categories of roles offered by companies for summer internships. We bring to you the experiences of interns from Consulting, Finance, Marketing, General Management, Product Management and E-commerce roles to understand a bit more about their work life. The articles are meant to give the reader a glimpse into the life of an intern and help the reader understand their fit in that particular role.

Contributed by: Ghanshyam Goyal

Ghanshyam Goyal is a Chartered Accountant and has cleared one level of CFA. Additionally, he has also completed BCom from NM College, Mumbai. He has done his articleship with Deloitte in the Audit Department and post qualification as a CA in May’19, had a stint with SBI Capital Markets in the Project Advisory & Structured Finance function.

Edited by: Lakshmi R V

The client I was working with was an Indian bank-linked private equity firm looking to scale up in the next 5-7 years, for which it needed a build-out of strategy and redesign of processes, organization, and governance. I had two main modules, one being a revamp of the portfolio management process of the firm, which involved an in-depth understanding of current practices, benchmarking with global best practices, identifying gaps, and recommending solutions to bridge those gaps. My other module sought an answer around the corporate structure of the PE firm within the banking conglomerate setup. To solve this, laid out a set of dimensions (like optics, governance, fiscal considerations, LP perspectives, among others) to evaluate the possible alternatives and recommended a direct bank subsidiary structure to maximize the benefit to the PE firm and Group as a whole.

My team helped bridge the gap of working in an online setup with weekly informal sessions, virtual team room simulating an actual work setup, among other initiatives. During my transition into the project, the team was supportive right from the Associates to the Partner with their guidance, even on a tactical level. The collaborative setup helped us work well and ensured that we met client expectations.

The main learnings came from the modules I worked on, viz. portfolio management process and the corporate structure of a PE firm in a banking conglomerate setup. We developed better insights into the industry and grasped the problem at hand via extensive conversations with senior stakeholders and industry experts. While working as an intern, I got the opportunity to lead these discussions, which helped me get rich exposure and develop rapport with senior executives of a company.

The internship gave me a holistic exposure that exceeded my expectations. I was amazed to see the level of cohesiveness in the team and the extent of structured thinking being put to use, practically dissecting a complex problem into solvable issues. This environment, in turn, helped me develop my way of thinking and, on an overall level, helped me grow as a person. I eagerly look forward to returning to the firm where I can continue to build on my learnings.

Regarding the preparation, the most critical aspect is preparing for case interviews. Leveraging case books, case prep groups, and various online resources are the core components of case prep. It is essential to have a diverse case group in a case prep scenario, which helps you gain new perspectives. Further, going out of your comfort zone by approaching batchmates and seniors is also a recommended practice. While solving cases, getting the final answer is not the objective; asking the right questions to understand the situation, devising a structured approach, and clearly articulating it commands higher precedence.

Ghanshyam and Lakshmi are students of the PGP 2020-22 batch at IIM Bangalore.

Media Cell IIMB is the student run outreach and communication committee of IIM Bangalore dedicated to form the bridge within the student community and the outside world.

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