successful cover letters bcg

BCG Cover Letter: Our Step-by-Step Guide + Examples

• Last Updated March, 2024

Former McKinsey and Bain recruiter

The most common question I was asked as a recruiter, and now as a recruiting coach, is “Do I need to write cover letters for my consulting applications?” This is usually followed up with “And do I need to tailor my cover letter for every firm?”

I think most people hope I’ll say no to both questions, as writing a cover letter can be pretty daunting, and tailoring it for every firm seems way too time-consuming to be worth the effort.

At My Consulting Offer, we’ve helped over 600 clients land offers with consulting firms. Our approach to how to write a great consulting cover letter has, for many, been a deciding factor in them landing interviews.

In this article, we’ll discuss:

• What makes a great consulting cover letter.
• How to tailor your consulting cover letter to what BCG is looking for – a step-by-step guide.
• How BCG and other consulting firms review your cover letter.
• A sample BCG cover letter that successfully landed an interview.
• 5 tips for writing a BCG cover letter.

Let’s get started!

What Makes a Great Consulting Cover Letter

The consulting cover letter works alongside your resume to show the firms you’re applying to that you have the potential to be a great consultant.

Think of it as a flashy introductory accessory to your resume that highlights your most impressive and unique qualities, and grabs the reader’s attention so they’ll be excited to read your resume.

However, it’s important to get it right. 

A Strong Consulting Cover Letter: The Basics

As a recruiter, I saw way too many examples of applicants who had clearly not put any effort into their cover letter. Getting the basics right, such as ensuring the company name is correct, is essential (but not everyone gets that right). 

On the flip side, I received cover letters from applicants who were perhaps a little too eager to stand out. Poetry and “love letters” were not uncommon but a little ill-judged. The urge to be distinctive should not outweigh your consideration of the audience. Professionalism and appropriateness are key.

The consulting cover letter not only needs to have the impact required to engage the reader, it also needs to show them that you’ve done your research and thought about how you’re a great fit for consulting, and for their particular firm. It must also show how you’ll bring value to the role through your experiences and appetite to learn relevant skills.

You definitely can’t send the same cover letter to every consulting firm you’re applying to and assume that you’ll be successful. You’ve got to show each and every firm that you’re worth an interview.

That’s a lot to think about, right? Don’t worry, we’ve got you covered.

Nail the case & fit interview with strategies from former MBB Interviewers that have helped 89.6% of our clients pass the case interview.

A Strong Consulting Cover Letter: Stand Out from the Crowd

After you’ve got the basics right, you need to identify what the consulting firm you’re applying to is looking for. Consulting firms typically seek candidates with great problem-solving, analytical, creative thinking, communication, team working, and leadership skills. 

So how can you include these in your cover letter while also tailoring it to an individual firm?

We recommend you focus on the firms’ values. These are how consulting firms distinguish themselves from other consulting firms.

You can easily find out what a firm’s values are by either typing “[firm name] values” into your search engine or by visiting the firm’s career page where they typically list these and provide detail on what they mean.

Now think about your own professional and personal experiences. Focus on experiences that you are proud of, received great feedback on, or demonstrate how you overcame a particularly tough challenge. Give some context of the situation, the actions you took, and the outcome that was reached, quantifying the results where possible. Try to ensure they include at least one of the consulting skills mentioned above.

Once you’ve outlined a few stories, you can then see how they might fit with the values of the firms you’re applying to. You may need to tweak some slightly, but you’ll probably find it pretty easy to link your stories to each firm’s values. 

And you don’t necessarily need to address all of the values, particularly if a firm has more than four, as you don’t want your cover letter to be more than a page.

The additional benefit of approaching your cover letter in the way we recommend is that you don’t need to explain your “why” for each firm. It will be clear by how your experiences resonate with their specific values. This shows how you’re a great fit. 

You can find out more about writing consulting cover letters by reading A Consulting Cover Letter that Lands Interviews: Our Complete Guide . For this article, we’re going to break it down by focusing on just one firm – BCG.

Tailor Your BCG Cover Letter to What BCG is Looking for

Step 1: Find out who to address your cover letter to at BCG.

It may differ between offices, depending on size, but you can usually find the key recruiting contact on the career page or by searching on LinkedIn. It may be a recruiter who handles recruiting for your university across regional offices for instance, or perhaps a recruiter who manages experienced professional recruiting for the office you’re applying to. 

Addressing your cover letter to someone specific and relevant helps to show that you’ve done your research and that you care about the impression you’re making. Firms often display their key recruiting contacts on the careers pages of their websites. Alternatively, you could search LinkedIn for roles such as Talent Acquisition Manager, Recruiting Manager, or Senior Recruiter and then locate the relevant person who looks after either the stream you’re applying through (for instance, experienced professional, undergraduate) or the office they recruit for, which is usually detailed in their profile.

Step 2: Create your opening paragraph.

Keep it concise, ideally no more than four or five lines. Introduce yourself and express your interest in applying to BCG and the specific role you’re applying for, which will typically be Associate or Consultant but may be a more specialist role, for instance, within BCG Gamma. You may also want to write a short sentence on “ why consulting ” here. Talk about how your experiences resonate with their values and state specifically which ones.

You can find BCG’s values by Googling “BCG values” or by visiting their “ our people and culture ” page directly. This content gives you a really good feel for how having the right people and developing a unique culture is so important to BCG. 

Scroll down to where they talk about the values driving their culture. There’s a great mini slideshow of their values and what they mean. Here’s a snapshot:

• Integrity – as an expression of courage and accountability
• Diversity – of thought, expertise, experience, and background
• Respect for the individual – as their capacity for desire and personal growth
• Clients come first – we measure our success by our clients’ success
• The strategic perspective – enabling clients to deliver superior results in a sustainable manner
• Value delivered – in the form of tangible, positive, and lasting change
• Partnerships – a long-term view guides BCG’s relationships both internally and with clients
• Expanding the art of the possible – because the goal is not simply to apply best practice but to invent it
• Social impact – make the world a better place

These values are created to be meaningful and inspiring, representing what BCG stands for, and making you want to be a part of BCG’s unique culture.

BCG has more stated values than most other firms, but this can actually make it easier as you can select the ones that resonate most with your own values and the stories you’ve written. I’d recommend choosing three or four, depending on the length of your stories.

Step 3: Organize your stories for the greatest impact.

Once you’ve chosen your stories to meet the values you’ve selected, list your strongest first and the weakest in the middle (although it should still be strong). List your stories in bullet point format and use the value as a heading.

Step 4: End your cover letter by reiterating your interest in BCG and how you appreciate their consideration. And don’t forget to sign off. Electronic signatures are the norm these days, just don’t use a script font here as this can look too artificial.

In addition to this publicly available information about what BCG looks for in its candidates, my colleague Valentin has written an article with the insider perspective on what’s important to BCG . This includes drive, a tailored approach, and the BCG attitude. Check it out to make your BCG cover letter to be extra special.

How BCG & Other Consulting Firms Review Your Cover Letter

As a recruiter for seven years with McKinsey and then a recruiting manager for nearly five years with Bain, both in London, I’ve read tens of thousands of resumes and accompanying cover letters. London is one of the most coveted offices, so applications came in thick and fast during recruiting season and continued throughout the whole year. 

I received cover letters from undergraduate students, postgraduate students, MBA students, and experienced professionals throughout my recruiting career, all eager to impress, but not always getting it right. 

I had letters consisting of just a few lines that didn’t tell me anything about the person, and others that provided their life story across multiple pages. Some were addressed to another company, others had lots of spelling mistakes or poor grammar. I’ve read very entertaining letters (although perhaps not always appropriate) as well as letters that were lacking in any engaging content at all.

The ones that grabbed my attention in a good way, were those that were concise, clearly laid out, showed me that the applicant had done their research on the company I worked for, demonstrated their unique qualities, and told me how they would be a great fit for us.

To make it easier for recruiters who read hundreds of cover letters every year, follow these basic principles. 

And to ensure your cover letter then stands out from the competition, I recommend you use My Consulting Offer’s approach. The more experienced a recruiter is, the easier it is for them to skim through cover letters, so you need to be able to impress them really quickly.

Successful BCG Cover Letter Samples

5 tips for writing a bcg cover letter that stands out.

• Find out who at BCG will be reviewing your application and address your letter to them (and their team).
• Research BCG’s values and select the 3 or 4 that resonate with you and your experiences.
• Create or adapt your stories to fit the values you’ve chosen, focusing on specifics and structuring them so that they include the context, challenge, actions you took, and the results you reached.
• Ensure you’re also demonstrating relevant skills in your stories such as problem-solving, leadership, and communication.
• Get the basics right. Ensure you’re referring to BCG in your letter throughout, keep it to one page, use bullet points for ease of reading, and check for spelling and grammar errors.

In this article, we’ve covered:

• What a consulting cover letter looks like
• A step-by-step guide to how to tailor your cover letter to BCG
• How recruiters at consulting firms review cover letters
• A sample cover letters that landed our client an interview with BCG
• Our top 5 tips for writing a successful BCG cover letter

Still have questions?

If you have more questions about the Boston Consulting Group cover letter, leave them in the comments below. One of My Consulting Offer’s recruiters will answer them.

Other people looking for advice on BCG cover letters found the following pages helpful:

• Consulting Cover Letters
• Consulting Resumes
• Consulting Networking
• BCG Recruiting
• BCG Case Interview

Help With Your Consulting Application

Thanks for turning to My Consulting Offer for advice on case study interview prep. My Consulting Offer has helped 89.6% of the people we’ve worked with get a job in management consulting. We want you to be successful in your consulting interviews too. For example, here is how Afrah Arif was able to get her offer at Deloitte .

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3 Things Consulting Firms Actually Look for in Your Application

We are sharing our powerful strategies to get your foot in the door, even if you have a low GPA, have little to no business experience, or study a non-business-related major.

No thanks, I don't want free strategies to get into consulting.

We are excited to invite you to the online event., where should we send you the calendar invite and login information.

Consulting cover letter guide (for McKinsey, BCG, Bain, etc.)

Today we’re going to explain everything you need to know about writing consulting cover letters.

We’ll start by reviewing an example cover letter that got interview invitations from ALL the MBB firms (McKinsey, BCG, and Bain). 

And then we’ll explain exactly how you should write your own cover letter to land consulting interviews. Here’s a full list of the topics in this guide:

• Example cover letter

How to write your consulting cover letter

Consulting cover letter tips.

• The skills consulting firms look for

Consulting cover letter screening process

• Get help with your cover letter

Let’s get to it! 

Click here for a consulting letter/resume review with an ex-MBB consultant

Example cover letter (which got interviews at mckinsey, bcg, and bain).

Below is an anonymised cover letter from a candidate who got interviews at McKinsey, BCG and Bain. So you can trust that this template works.

The image here highlights the different sections of the cover letter, but we’ll dive deeper into the text later, and you can also get a downloadable copy below.

Free download of the consulting cover letter example, here. 

In the next section, we’ll go step-by-step through each part of the cover letter and explain how to go about writing it. But before we dive in, please note the following points about the above template:

• A lot of people use this template. Get inspiration from it, but every sentence in your letter should be written from scratch.
• This cover letter might sound impressive. It's one of the best ones we’ve seen. But even if you have not achieved as much as this person, you can still get an interview.

With that said, let’s dig into the cover letter writing process!

As a starting point, this video provides a nice overview of the full writing process for a consulting cover letter. 

Now let’s break things down further.

1. Introduction

Example - Introduction

Mary Taylor - [email protected]

DD / MM / YYYY

Dear Sir / Madam,

I would like to apply for an Associate position at McKinsey in London.

This section is a formality. It should simply state the following information:

• Your name and email address. You can replace your email address with a postal address although those are not commonly used anymore.
• The date on which you are sending your letter
• The position, company, and office to which you are applying

Keep it short and sweet.

2. Why you? 

Example - Why you?

I started working as an Analyst at Big Finance in New York in September 2020 and was quickly promoted to Associate in a year and a half instead of the average four years. While at Big Finance, I advised a broad range of clients who constantly gave me positive feedback and regularly asked to work with me again. Before joining Big Finance, I graduated as the top student of my MEng in Chemical Engineering at Prestigious University in the UK. While studying, I received two competitive scholarships and awards. In addition, I developed my leadership skills as the President of the Prestigious University Consulting Club. High energy was essential to lead a team of 5 managing the club and growing the number of members by 20%.

This is your "GOLD MEDALS" section. It is the first section of your cover letter and therefore the most important one.

It should state the TOP 3 achievements of your life to date that are relevant to consulting. These achievements should be as unique and as memorable as possible. When your reviewer reads them they should think "Wow, that's impressive. I want to know more about this person."

To write this section you need to step back and ask yourself "What are the most impressive things I've done with my life so far?" This is not an easy question to answer. 

In our experience discussing this with a close friend can help. It's sometimes easier for them to quickly point out the impressive things you have done as they are an external observer.

In addition, notice how achievements are QUANTIFIED in the example above. Saying you have been promoted "in a year and a half instead of the average four years" is much more powerful than saying you have been promoted "quickly." You should quantify your achievements whenever possible.

This section is your chance to grab the reader's attention. If there's nothing impressive in it, they will stop reading and just scan the paragraphs. So don't miss your opportunity!

3. Why consulting?

Example - Why consulting?

There are several reasons why I want to pursue a consulting career. To start with, I know I will enjoy being a strategy consultant because I have already worked in a strategy team in the past. This was in summer 2019 when I was a Strategy Intern at Big Grocery Retailer in London. In addition, I think consulting is a unique opportunity to comprehensively learn about business management by working on a variety of company situations. Over the past two years, I have started building my business skills while advising clients on financial matters at Big Finance. I now look forward to learning more about companies’ management at McKinsey. Finally, I want to work in consulting because I truly enjoy interacting with clients. Throughout my work experiences I have built a successful track record of developing and maintaining relationships with clients including, for instance, the senior strategy team at Big Grocery Retailer.

Once you have convinced your reviewer that you have impressive achievements under your belt they'll be thinking: "Ok, this person is impressive. But do they REALLY want to be a consultant? Or are they just applying because they're not sure what to do with their career."

The third section of your letter should therefore answer the  "Why consulting?" question . But here is the thing about this question: There are some reasons to go into consulting that you should tell your reviewer about. And some reasons that you should really keep to yourself.

For instance, one of the mistakes candidates commonly make in their cover letter is to write something along the lines of "I'd like to spend 2 or 3 years in consulting to learn more about business in general and then decide what I want to do." This is a HUGE mistake. 

Consulting firms want to hire FUTURE PARTNERS. Not employees who will stay for a couple of years. You can watch the video below for more details about this.

The best approach for your "Why consulting?" section is to write about past experiences that really show you know what you are getting into. The perfect situation is if you have done an internship in consulting or in corporate strategy and have enjoyed it. If that's the case, this is the perfect section to write about it.

But even if you haven't done related internships, there are plenty of angles you can use to connect your past experiences to what you will do as a consultant. For instance:

• You might have enjoyed working with clients when you were in M&A or in Sales
• You might have enjoyed structuring and solving tough problems as an engineer

You should use these experiences to say that "working with clients" or "solving tough problems" is something you KNOW you enjoy doing; and you look forward to spending more time doing this as a consultant.

When they read this section, your reviewer should think: "Ok, this person is impressive AND they know what they are getting into."

4. Why McKinsey / BCG / Bain / Other?

Example - Why McKinsey?

McKinsey appeals to me for three reasons. To start with, the different people from the company I have met and worked with all told me they had truly enjoyed their time there. For the past two years, I have worked for Michael Smith, a former Engagement Manager from the London office, who now works for Big Finance. Additionally, I regularly read McKinsey’s reports on financial services and think the insights delivered by Sarah James and others in the Finance practice are truly superior to that of other consultancies. By joining McKinsey, I therefore think I would have an opportunity to work with and learn from the best consultants in the industry. Finally, the fact that McKinsey was selected by Finance Supercorp to shape its digital strategy also played an important role in my decision to apply. This was a first-of-its-kind contract in finance and it shows that while at McKinsey I could get the opportunity to work on truly unique projects.

If you have managed to convince your reviewer that you have an impressive background and that you really want to be a consultant, you have a VERY HIGH chance of getting an interview. 

The only question that's left for you to answer is: " Why McKinsey  / Why BCG? / Why Bain? "

Top consulting firms  have a lot in common. In most regions, they cover the same industries and work for similar clients. They also pay similar salaries, and the career path is more or less the same from firm to firm. So what should you write about in this section?

In our experience, the most efficient way to set yourself apart in this section is to write about three specific elements:

When you write "I've met with Michael Smith," or "I've read report X," or "I've heard about project Y," you are making an argument that's SPECIFIC enough for your reviewer to think: "Ok they've done their homework."

If you stay too GENERIC, your argument will be much less credible. For instance, writing something like "While at McKinsey, I'll be exposed to a broad range of industries which I'm excited about" is a weak argument because you could swap McKinsey for BCG or Bain in that sentence.

In fact, this is the ultimate test. If you can swap McKinsey with another name in your "Why McKinsey?" section you are not being specific enough. You need to work on your paragraph again and mention SPECIFIC people, reports, or projects that you find interesting.

5. Conclusion

Example - Conclusion

For all these reasons, I am very enthusiastic about the chance to work at McKinsey. I am available for an interview at any time and look forward to hearing from you.

Yours faithfully,

Mary Taylor

The last section of the cover letter is a formality again. It should include the following elements:

• A sentence or two saying that you are enthusiastic and available for interviews at any time
• Your final signature

So how do you make it easy for your reviewer to put your cover letter on the "Accept" pile? We have put together the 10 tips below to make sure you can achieve this and avoid common mistakes.

Tip #1 Don't use a template letter

Writing cover letters is painful. But trust us, reading hundreds of them can be at least as painful. That's why you should make every effort to make your letter interesting and genuine. 

It's ok to get inspiration from templates such as the one we provide in this guide. But every sentence in your letter should be written from scratch.

Tip #2 Keep it to one page

One of the unwritten rules of consulting cover letters is that they should not be longer than one page. The trick to achieve this is to only select the MOST RELEVANT experiences from your  resume  and to summarise them. 

The points you decide to highlight should clearly demonstrate that you would make a great consultant.

Tip #3 Standard format and font

It's tempting to use an eye-catching font and format. But that's actually a bad idea. You only risk your interviewer thinking: "I've never seen this font, it looks really weird. Who is this person?" Your cover letter should stand out because of its content, NOT because of its format.

Tip #4 Not the time to be shy

Your cover letter is not the time to be shy. If you went to Harvard and have three Olympic medals, now is the time to say it! Most of us don't, and that's fine. But the point is that you should really push yourself to bring your most impressive accomplishments forward.

Tip #5 Network, network, network

This might sound surprising, but a big part of the cover letter is  how much networking you have done . Having networked with people from the firm you are applying for pays dividends for multiple reasons. 

First, they might recommend you to the HR team. But most importantly, these people will give you insight into what makes their firm UNIQUE. Then you can quote what you've heard in your cover letter (and name drop the person you heard it from) to show that you really understand the firm you are applying for.

Tip #6 Read, read, read

Unfortunately, networking is not always easy or possible. In these cases, your second best option is to read as much as you can on the firms you are applying for. You should read about the firm's projects, reports, and partners and find pieces of information you are really interested in. 

For instance, if you did your master thesis on electric vehicles, try to find who works in this area at the firm and what they have to say about it. And then mention what you have found in your cover letter.

Tip #7 One letter per firm

One question we often get is: "Should I write one letter per firm?" The answer is YES. But it's not as hard as it might sound. 

Every cover letter needs to answer three questions: Why you? Why consulting? And why this firm? The only paragraph you will need to change in every letter is the one about "Why this firm?" For each firm, you will have to do the networking and reading mentioned above.

Tip #8 Start writing early

Writing an outstanding cover letter is VERY HARD. Most candidates underestimate how much time it takes and start this process too late. You'll need to take a step back and reflect on everything you have done to date to highlight your most relevant experiences. 

This takes multiple iterations. Start early.

Tip #9 Get feedback

In our experience, great candidates all look for feedback and iterate on their cover letter until it's truly as good as it can get. It's a lot of work, but it's worth it.

It’s best to get feedback from peers or consultants. These people will be able to point out which parts of your letter they don't get or don't find impactful enough. If you’d like to have an expert review your cover letter, check out our team of  ex-consultant coaches .

Tip #10 Proofread multiple times

Finally, you should check and double check your letter for typos and grammar mistakes - multiple times. A cover letter is (not so secretly) a writing test and you should really treat it like one.

What consulting firms look for

To get multiple interviews at  top consulting firms , it’s extremely important to understand what those firms are actually looking for. 

The good news is that most of the leading consultancies are looking for basically the same skills. 

To illustrate this point, here’s what  McKinsey  and  Bain  say that they’re looking for in candidates, along with our own translation of what they mean:

There are also a few unofficial items that consulting firms will look for on your resume, and you can read about those in our  consulting resume guide .

Next, let’s talk about the typical cover letter screening process.

Screening process

Now let's talk about HOW your cover letter will be handled once you send it. Here's how it works.

Your application will be sent to a JUNIOR CONSULTANT who recently graduated from your University. They will score your documents based on a grid provided by the HR team. 

Consultants usually have to score 200 to 400 applications in about 2 weeks. And this is sometimes on TOP of their normal project. It's not uncommon for them to leave the job to the last minute and to have to do it on a Friday night just before the deadline.

Why is this important? The point we are trying to make is your application is part of 100 other applications. And the person who will review it will be tired by the time they get to your cover letter. If they don't understand something, they won't Google it. It's your job to make their job easy.

Why consultancies ask for a cover letter

There are two main reasons why consulting firms ask for cover letters.

First, partners bill several thousand dollars per day to their clients. The opportunity cost of interviewing you is HUGE for the firm. Put yourself in the shoes of a consultancy for a second. What are the top 3 questions you want to answer before investing money in interviewing a candidate?

• Have they demonstrated the skills needed to be a consultant?
• Do they know what consulting is and what they are getting into?
• Are they genuinely interested in working for our firm?

If you don't answer these three questions in a structured and impactful way, your chances of getting past the screening process are very low. This is why every cover letter should be structured as follows:

• Why consulting?
• Why this firm?

The second reason consulting firms ask for a cover letter is to test your writing skills. Consultants write all the time: emails, PowerPoints, Word documents, etc. They spend about 50% of their day writing. And a lot of the time their job is to summarise very large quantities of information in a succinct way.

This is exactly what you have to do in your cover letter. You have to a) look back on all your past experiences, b) select the relevant experiences to convince the reviewer that you are the right person for the job and c) summarise all these experiences in a way that's easy to read and digest.

Cover letters are a disguised writing test. Candidates who end up getting invited for interviews recognise this early on. Making a good impression on paper is way harder than making a good impression in person.

Are many candidates ready to invest HOURS in writing the perfect cover letter? No. That's the whole point. That's how you can set yourself apart. If you spend enough time making sure that your letter is as impactful as it can be, you stand very high chances of getting invited for interviews.

Another reason that it can help to have a cover letter is to explain anything on your resume that may look unusual to a reviewer, such as a time gap or a non-traditional background for consulting. 

Whatever your unique situation is, if you’re not confident in how your cover letter looks today, then we can help you. 

Get an Ex-MBB consultant to review your cover letter

The guide above, in addition to our guide on  consulting resumes , should go a long way in helping you craft documents that will get you interviews. 

But if you still feel you need additional help, we have a team of ex-MBB recruiters and interviewers who would be happy to provide feedback on your cover letter.

You’ll get feedback on how to immediately improve your cover letter, including what experience to focus on, how to optimise your phrasing, formatting, etc.

Start by browsing profiles for available coaches.

BCG Cover Letter

Written by . Posted in Cover Letter

Boston Consulting Group (BCG) has been recognized as one of the most prominent consulting firms in the world. Its prestige places it, along with McKinsey and Bain, in what’s known as the “Big Three” of the industry. Currently it has approximately 78 offices located in 43 countries across the world.

The firm recruits exceptional graduates and working professionals to join their team. They visit colleges and universities to find passionate individuals who are capable of developing recommendations after thoroughly analyzing a business case. Recruiters employ various tools for screening applicants, but the first document they check is your BCG cover letter .

If you’re in the process of crafting an impressive cover letter, here are some pointers to follow:

Research and Network

In order to write a letter that creates value to BCG, research the firm and network with people who are or were connected with the firm. The information you learn from the firm’s website, books, magazines, and employees will guide you in finalizing the content of your letter. A letter will only pique the interest of the recruiter if it’s customized to the company’s direction, goals. and needs.

Think of a Structure

Before you turn on your computer and start typing, think about how you will structure your BCG cover letter. To simplify things, follow this outline:

A cover letter must only contain relevant information. Remember, BCG receives numerous applications each year. Recruiters only have a short time to review your document so it must expertly convey your qualifications.

Mentioning the name of a key person in the management consulting firm or industry can make your cover letter unique. However, when you do this, explain how your encounter with the consultant has convinced you to pursue a career at BCG. Were you motivated by his or her description of the company’s culture and goals? Are you interested in the challenging working environment? Recruiters are interested in this type of information.

Explain Issues

If your work history listed on your resume has noticeable gaps, or if you are shifting careers, you should explain these issues in your BCG cover letter. Recruiters might question why you stopped working for a couple of years or why you decided to leave sales and pursue a career in management consulting. Your explanation will help recruiters understand where you came from and how you can contribute to their goals. Everything must be clear from the beginning; otherwise, you could be instantly rejected for the opening.

Proofread Your Letter

Review your cover letter a few times before you send it to BCG. Make sure the content is relevant, interesting, and substantial. Furthermore, it must be free from spelling, grammatical, and punctuation errors. Mistakes give recruiters the impression that you are not meticulous with details and/or you have poor communication skills. If you want objective feedback about your BCG cover letter, ask a friend for help or contact an expert.

You’ll need a well-crafted job application whether you’re seeking for a position as a teacher, engineer, or receptionist. The cover letter is a very useful document for this. You’ll have a far better chance of finding your dream job if you include a professional cover letter with your CV.

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Every year, more than 1 million candidates apply for a consulting role in McKinsey.

[ Click here to directly go to the Consulting cover letter sample ]

But only 10,000 people get the final offer. That’s a 1% success rate .

The top 3 consulting companies, McKinsey & Company, Boston Consulting Group, and Bain & Company , are some of the most selective companies when it comes to hiring.

Most people don’t know this, but they start their selection process by screening the cover letter and consulting resumes .

More than 80% of resumes and cover letters are rejected before the first screening. Less than 15% of candidates get called for interviews in the big three consulting firms.

So, if you think, " How do I become a consultant? How to write a consulting cover letter that gets me the consulting job?” - This blog is for you.

Consulting cover letters are very different from traditional cover letters for jobs. In this guide to writing a consulting cover letter, we’ll tell you everything you need to write on the consulting cover letter to stand out from your competitors.

In this blog, we will discuss:

• What is a consulting cover letter?
• What are the things recruiters look for in a cover cetter?
• How to structure a consulting cover letter?
• How to write an effective consulting cover letter?
• 5 tips to write a stellar consulting cover letter
• Consulting cover letter dample

We’ll also share five consulting cover letter examples to help you get an interview.

What Is a Consulting Cover Letter?

A consulting cover letter is an adjacent document with your consulting resume that helps you introduce your skills and accomplishments to the hiring managers.

It’s an essential part of your application, especially for big three consulting firms, because it’s easy for recruiters to quickly sort bad candidates based on the quality of a cover letter, lack of attention to detail, etc.

However, if done correctly, consulting cover letters is an excellent way to stand out from the crowd and get yourself a job interview.

You don’t have enough space to elaborate on your experiences on a resume. But with a cover letter, you can expand on your experiences and explain the reasons for some potential red flags on your resume.

Why do you have a job gap? Why do you have a low GPA? You can explain the reasons for that in the cover letter.

In short, your consulting cover letter is the deciding factor for getting a job in a big consulting company.

What Recruiters Look for in a Consulting Cover Letter?

The recruiters look for a candidate who has excellent communication and leadership skills. They look into the applicant's skills and experience to understand if they have the qualities to become a successful consultant.

Recruiters look for mainly four aspects from a consultant cover letter. These are:

• Does the candidate have the relevant skills and experience required for the job?
• Does the candidate have a clear idea of what the company does?
• Is the candidate interested in working with the company?
• Does the candidate have excellent communication skills?

If you want to create an outstanding consulting cover letter, you need to address all four points in your letter.

How to Structure a Management Consulting Cover Letter?

A perfect management consulting cover letter must have six distinct elements.

• Opening Paragraph
• Closing Paragraph
• Your Signature

Consulting Cover Letter: Header

This is a mandatory part of any professional letter. The header section must include

• Candidate’s name
• Phone Number
• Your Location

Even if your resume has all this information, you need to add these to your cover letter.

Salutation is an essential part of the consulting cover letter. Never start your cover letter with “To whom it may concern.” It will not get you the job.

Instead, find out who is the recruiter or hiring manager and address the cover letter directly to them.

If you don’t identify who the hiring manager is, you can address the letter to the recruitment team. For example:

Dear members of the BCG Recruitment Team, To Bain Recruitment Team,

Consulting Cover Letter: Opening Paragraph

The first sentence of your consulting cover letter is the perfect opportunity to hook the reader’s attention. And the second sentence should state the role you are applying for and how you learned about the position. The third sentence should describe why you are interested in the company you are applying for.

Do some initial research and craft a personalized and customized opening paragraph for the Consulting cover letter. If you can do that, you will improve your chance of getting shortlisted by 1000%.

Here is an example of the Opening Paragraph of a consulting cover letter:

I am a 4+ years experienced digital marketing professional working with top SaaS brands to help them generate $100M in sales year on year. I’m highly pleased to apply for the Associate Consultant position at McKinsey. I appreciate McKinsey’s leadership and sales practices to provide an outstanding experience to clients.

Consulting Cover Letter - Body

The consulting cover letter body part should explain your key accomplishments, experience, and why you are a good fit for the firm.

Don’t write a generic consulting cover letter body. Research the consulting firm, go to their website and understand the qualities they are looking for. After that, you can start creating the body of the consulting cover letter.

Below is a consulting cover letter example of the body paragraph:

Consulting Cover Letter- Closing Paragraph

The closing paragraph is where you place the call to action to encourage the recruiters to take action. It must be short and to the point.

Here’s an example of the Closing Paragraph of Consulting Cover Letter:

Consulting Cover Letter - Ending Signature

This is a formality for any type of professional letter. There are different types of closing signatures. Such as:

Thanking You Thanks and Regards Best Regards Sincerely Thank You

How to Write an Effective Consulting Cover Letter - Formatting

It’s not enough to have great content for the consulting cover letter; You need to format it professionally to get the most out of it.

Here are some formatting tips to help you create the consulting cover letter:

Keep it Under 1 Page:

The consulting cover letter should not be more than one page. Recruiters don’t have much time to give to one single candidate. And in this time, if you create a 2-page cover letter, the maximum chance is that recruiters will ignore your application.

Use 1-inch Margin:

A 1-inch margin is standard for any professional cover letter. A margin of less than 1 inch makes your cover letter look cramped. A 1-inch margin ensures enough whitespace to make the letter easily readable.

Use Professional Font:

Always use a professional font in the consulting cover letter. Some professional fonts are:

• Times New Roman

Also, ensure to keep the font size to 12 points. It makes the cover letter very easy to read.

Save the Cover Letter in PDF

Make sure to submit the cover letter in PDF format. It ensures that your cover letter format is intact, no matter who views it.

10 Tips for Writing a Consulting Cover Letter

Writing a solid consulting cover letter allows you to present your candidacy to the hiring managers. Here is a list of tips for writing a stellar consulting cover letter.

1. Research the Company Requirements

Interviewing candidates is expensive; it takes time and money to get excellent people on board.

So, the company also wants to ensure that the candidate they are interviewing is interested in the job.

Therefore, consulting firms look for signs that:

• You’ve researched the company
• You have a proper motivation or reason for entering into consulting
• You have a good answer to why you’re the right fit for the company
• You have impeccable speaking and writing skills

Use your cover letter to showcase that you have all the signs that a consulting firm looks for in a candidate. This will set you apart from the rest of the candidates.

2. Link Cover Letter To Resume

Your cover letter should complement your resume and strengthen your candidacy.

Start the cover letter with unique experiences and skills to hook the recruiter’s interests.

In resumes, there is less space to explain anything to the recruiter. You can complement it by going into detail about your achievements and skills in the cover letter.

Here are some points consulting firms look for in a consulting cover letter:

• Big brand name: If you are from a reputed university or worked with reputed brands
• Good Academic Performance: 3.5+ GPA
• Leadership experience and good communication skills
• Excellent Analytical Skills
• The ratio of your accomplishments and career year: the more experience you have, the more accomplishments you should get

3. Don’t Use a Standard Cover Letter Template

Writing a cover letter is difficult. It takes a lot of contemplating and self-reflection to make it right. You have to edit and rewrite the cover letter multiple times to make it interesting.

Some candidates try to use standardized cover letter templates to avoid the pain of writing a cover letter.

This is a big mistake, mainly if you apply to prestigious consulting firms. The recruiters in these organizations are experienced in identifying a standard cover letter.

Don’t write a consulting cover letter for the sake of it. Write the cover letter to make each sentence count and help you get closer to your dream job.

4. Use Evidence-based Storytelling

Everyone loves a good story. And in your cover letter as well, you should tell the story of your experience, don’t list down your skills and accomplishments without any context.

Demonstrate how various experiences have given you certain skills that nobody has.

For example, instead of saying you have led marketing campaigns in your past organizations, you can say that You’ve managed a marketing budget of $50,000 and coordinated with the content team to launch two successful campaigns and generated $5mn sales.

This is evidence-based storytelling, and this gives more context to the recruiter about your experience and helps them evaluate your skills.

5. Avoid Repeating Things on Your Cover Letter

Your cover letter and resume go hand in hand — they should complement each other, but they should not be the same.

You can reference elements of your resume but focus on aspects that aren't covered very well there or put a different spin on things, so it's still interesting for them to read about it again.

6. Pick Your Best Stories And Accomplishments

A cover letter is an opportunity to tell great stories from your work experience that are relevant to the consulting firm you're applying to.

If you have accomplishments, such as helping previous employers save money or increase profits, put these front and center where hiring managers won't miss them. Don't just list your skills — explain how they helped your previous employers meet their goals.

However, make sure to include only 2-3 such stories. And keep them short and crisp. Nobody has the time to read through a 2-page cover letter.

7. Quantify Your Results and Impact

Consulting firms want to know that you have the potential to deliver results for their clients — so make sure you mention how much impact or value you've created in past jobs or internships. For example: "I helped ABC Company reduce its customer service costs by 20%." Or: "I generated $100K in annual savings for XYZ Company through process improvement initiatives."

8. Keep Your Cover Letter Crisp

Many consulting firms get hundreds, if not thousands, of applications for each job opening. It's important to keep your cover letter as brief as possible so that recruiters don't lose interest.

Keep your cover letter to a maximum of one page. The most successful cover letters have three identifiable sections: who you are, why you are applying and why the firm should hire you. This can be covered in three paragraphs or about 300 words.

9. Namedrop Employees You Have Talked to

If there is someone at the firm who referred you or whom you have spoken to about this position, mention them by name in your cover letter, preferably in the first paragraph. This will help the reader to associate your application with that particular employee. It will also help if that person has put in a good word for you!

10. Double-check You're Addressing The Cover Letter Properly

Address the right firm. Take the time to research the firm and make sure your cover letter is addressed to the right person.

Most firms will have information on their websites about who is in charge of recruiting.

The more personal you can make the cover letter, the better for you.

Failing to address your cover letter correctly may be discarded without even being read.

Here’s a Management Consulting Cover Letter Sample For Your Reference:

Frequently asked questions:, do all consulting firms require cover letter.

Most consulting firms keep cover letters as an optional document. However, you must add your cover letter with your resume to distinguish yourself from other candidates. Writing a unique cover letter can help you stand out from the crowd.

What if The Cover Letters are Optional?

Consulting firms like McKinsey and BCG have made their cover letters optional.

It certainly helps the candidates with strong resumes to get out of the hassle of creating a cover letter. However, if you have some red flags on your resume, such as a low GPA or an employment gap, you should write a cover letter to explain these potential red flags to the recruiters and increase your chances of getting hired.

Key Takeaways

Writing a consulting cover letter doesn’t have to be complicated. Just remember the following tips:

• Write a proper cover letter header and ensure that you are not making any mistakes in your contact information
• Always start the cover letter with a proper and professional salutation
• The first paragraph of the consulting cover letter should hook the recruiter to read the whole cover letter
• In the second paragraph, explain your experiences and show why you are the perfect candidate for the job
• Always end the consulting cover letter with a call to action

If you want to create a consulting cover letter, go to the Hiration Cover Letter Builder tool and pick from 20+ consulting cover letter templates to make an excellent one for yourself.

If you have further questions, reach out to us at [email protected] , and we will be happy to help you out.

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How to write a killer cover letter

Anyone who's ever applied for a job knows how stressful it can be. And for some, the hardest part is the cover letter.

It should be professional, but make you stand out. It should be short, but not too short.

While a cover letter can seem like a formality, it's an important first step in the process.

"It's your personal sales brochure," said James Innes, chairman of the James Innes Group and author of several career books. No wonder it's so daunting.

Here are a few tips to help you pen the cover letter most likely to get you hired.

Read the job posting closely

"The things that come at the top of the job description are the most important," said Martin Yate, career coach and bestselling author of the Knock 'Em Dead series.

To make sure you highlight the traits your potential employer really cares about, refer to the skills listed in the job posting to inform how you talk about yourself in your letter.

Yate suggested going a step further by reviewing job listings at several companies, and seeing if any skills or traits are repeated across an industry. "I would recommend collecting half a dozen job postings," he said. "Look at what they have in common."

Quality over quantity

When you're first looking for jobs, it can be tempting to send out a generic cover letter to as many employers as possible. But that doesn't work, Innes said. Recruiters can tell, and they don't like it.

Keith Bevans, head of Bain & Company's global consultant recruiting, warned that a poor cover letter can hurt an applicant's chances of getting the job. "The cover letter becomes an important data point on how good they are at certain skills that might be relevant to the job they're applying for," he said.

Related: How to answer the salary question during a job interview

Make a good first impression by ditching "to whom it may concern." Instead, look for the name of a hiring manager and address it to them. You should also try to find out a little bit about them, and say something nice about their achievements. "If you can flatter someone in the opening line and create a connection, you've got their attention," said Yate.

Tell a good story

Once you've determined what matters to employers, figure out what type of story you want to tell about yourself -- and be succinct.

"The best cover letters tend to be short and to the point," Bevans said. You don't want to repeat what's in your résumé.

Rather than telling employers what you think you're capable of, tell them what you've already achieved. "People are hired on credentials, not potential," said Yate. "We want to leave out things like 'I think I could do a great job.'" Offer specific, relevant examples, Innes added.

Related: What top employers look for in new college grads

Bevans noted that if you're going to use buzzy terms to describe yourself, you should be able to back them up. "A lot of students write cover letters that are like treasure maps with no treasure," he said. "If you say you're a good team player" you should have a specific example to back that up, said Bevans.

Stick to clean templates

Yate recommended using one of two possible cover letter formats. The first is a simple letter, made up of a few paragraphs and lasting no longer than a single page. First get your reader's attention with a personal reference, then name the position you're applying for. In the following paragraphs, lay out your relevant skills and experiences. Conclude by outlining an actionable next step. Rather than telling the reader you look forward to hearing from them, say you'll reach out by a certain date to follow up.

The second format is called an executive briefing . You still write a paragraph at the top explaining what you're applying for, and one at the bottom with a plan of action. But instead of writing out some paragraphs in between, set up two columns: One with a list of requirements pulled form the job posting, and one with a list of your corresponding skills and achievements. This format lets recruiters see clearly why your experience makes you a good fit for the job.

Check your work

"Presentation is important," said Innes. That means not only that your cover letter should be cleanly laid out, but also that your spelling and grammar have to be perfect.

"Recruiters sit and read through a lot of résumés," Innes said. "You become very good at spotting those errors." Chances are, he said, recruiters will just trash a cover letter with spelling or grammatical errors.

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Tips for Advanced Professional Degree Candidates

Application and interview information, more than half our consultants have a doctorate, law, medical, or non-business master’s degree..

Working toward your advanced degree means you already have many of the skills and strengths you need to succeed here.

If you like the idea of a stimulating and challenging career alternative and an opportunity to work with highly motivated colleagues in a team-based environment, we encourage you to apply.

Application tips

The following general recommendations give a sense of how we assess candidates with Advanced Professional Degrees and provides suggestions for highlighting your accomplishments.

We review every application completely, so we encourage you to provide accurate and thorough information. There are no knockout factors, and you need not be distinctive on every dimension. You will be better served by providing all the information we ask for than by leaving out elements you feel are weak.

Your application (i.e., cover letter, CV/resume) is our first and primary evidence of your written communication skills, so present it in a thoughtful and compelling manner. Make it easy to identify distinctive elements.

Preparing your CV or resume

Preparing for the online application, preparing for interviews.

BCG’s Weekly Briefs

Global Chair

Chief Executive Officer

Five Truths (and One Lie) About Corporate Transformation

MAY 06, 2024

Taking on a transformation presents so many tough questions for CEOs and senior business leaders. When should they pursue it? With what goals? How should they scope and shape it? Who should run it? Getting the answers right can be among the biggest challenges leaders will face—and can be career defining.

Roughly one-third of companies in any given year must undergo substantial transformation, often catalyzed by financial underperformance. Despite how routine this need is, successful change is the exception. In fact, of the companies needing to change, only 25% do so successfully, achieving above-industry average total shareholder return (TSR) in both the short and longer term.

Given that, we need to understand what can tilt the odds toward a positive outcome. The BCG Henderson Institute and the BCG Transform practice collaborated to seek out patterns that could analytically tell us what works. We assessed nearly 2,000 firms over two decades, and what emerged are five truths about successful change :

• Timing matters. Preemptive transformation programs, initiated while TSR is in line with or ahead of industry average, created TSR that was 2.7 percentage points higher after three years than programs initiated reactively, once returns had dipped below peer groups.

By fixing things before they break, companies can act from a position of strength, when they are less subject to pressure and scrutiny. NVIDIA offers a great example. The company began embracing chip design for AI-related tasks while its gaming business was still growing—a bet now validated by its dominance of the AI industry.

• Leaders matter. One of the roadblocks to successful transformation occurs when leaders are reluctant to question the mental models and organizational structures underpinning past success. Think of cases like Blockbuster (deciding against the acquisition of Netflix), Swissair (continuing to invest in a failing airline), and Kodak (not recognizing the potential of digital photography).

Bringing in a new CEO during a transformation is associated with 4.1 p.p. higher TSR, on average, over five years. But leadership change is also associated with high variances in TSR impact, so it is anything but a panacea. Indeed, we observed that leaders who initiated preemptive change are significantly less likely to be replaced during the transformation. So what counts is the willingness of the leader to challenge the status quo and established operating models.

• Cost cutting is rarely enough. Over a five-year horizon, long-term outperformance over industry peers is driven by investor expectations (25%), cost reductions (32%), and revenue growth (43%).

You can’t just cut your way to greatness. Differential growth and a compelling narrative for investors are critical to sustained value creation.

• A long-term outlook is key. While it’s easy to get caught up in how to manage performance woes, successful transformations require a forward-looking perspective reflected in metrics, mindset, and culture.

This outlook should also include investment in new ideas. R&D spending that’s above industry average is associated with a 2.9 p.p. improvement in TSR over the course of a transformation. Above industry-average capital expenditures are also linked to better outcomes—3.7 p.p. TSR over five years. Often the most essential part of cost cutting and productivity improvements in a transformation is finding the fuel to fund this journey.

• You can’t make it up as you go. Leaders of companies undergoing transformation feel lots of pressure—from inside and outside—and they need to deliver on multiple fronts at the same time. It takes a structured program to support change.

Clear governance and processes—and potentially a dedicated transformation office—allow companies to coordinate and track progress. And appointing a chief transformation officer can improve the odds of success by an amazing 80%.

On top of these five truths, there’s also one lie leaders often tell themselves: that these insights don’t apply to them. In fact, the patterns and success drivers identified by our research are remarkably universal across industries, regions, and time. The exceptions to these truths are truly rare.

Many of the points above are broadly understood, but often obscured by the pressures and distractions of the moment. And the success factors associated with these five truths turn out to build cumulative wins. Employing two may increase TSR by 12.7 p.p. over five years; employing four adds 20 p.p, or nearly 4 points of TSR per year. When it comes to transformation, the best approach calls for nothing but the truth.

Rich Lesser Global Chair

Featured Content

by Martin Reeves and five others

How to Create a Transformation That Lasts

by Kristy Ellmer and five others

Great Chief Transformation Officers Matter More Than Ever

What is happening in sustainability reporting.

MAY 01, 2024

Companies are talking less in earnings calls about their work protecting the planet and advancing other social practices. But even as they talk less, many continue to act just as they promised—some even more so than previously—to establish sustainable business practices and prepare for greater corporate reporting requirements on the horizon.

The stakes feel higher though. Earlier this week, the CEO of a leading global financial institution told me that he and his team had never spent more time and applied more rigor to understanding and preparing the details of their own sustainability report than this year.

The International Organization of Securities Commissions has endorsed sustainability and climate-related financial disclosure standards and asked its 130 member jurisdictions, covering nearly all financial markets, to consider adopting them. New regulations in Europe cover about 50,000 companies, including about 10,000 companies based outside of Europe. Although a US Securities and Exchange Commission disclosure rule is held up in the courts, California has adopted its own rule and Illinois and New York are likely to soon follow.

All this means that companies need to be prepared for an era of tighter reporting standards, oversight, and scrutiny. The following can help CEOs, CFOs, and senior executives navigate this:

• Understand and own what your company reports.  Management engagement is critical to ensure that the sustainability strategy integrates with corporate strategy and is a source of competitive differentiation. This focus will also ensure that the pathways to deliver commitments are built into a credible transition plan.
• Involve the board of directors.  Europe’s Corporate Sustainability Reporting Directive, for example, imposes duties on board members. Many boards lack sustainability expertise and could benefit from general awareness building and specific trainings.
• Prepare for transition from voluntary (“nice to have”) to mandatory (“must have”) disclosures.  As of today, most corporate sustainability reports would not meet the regulations being rolled out around the world, especially the need to be audited by third parties. Consumer product companies also need to prepare for requirements to disclose sustainability impact directly on labels.
• Focus on what matters most, or materiality.  Sustainability has moved beyond the window-dressing phase. Companies should apply the same rigor to reporting as to their strategies, focusing on areas where they can make the biggest difference.

As a private company, BCG does not have some of the obligations of listed companies. But we strive to be open about our progress on sustainability and forthright about where we still have work to do. I am proud to present our 2023 annual sustainability report . Some highlights:

• Pursuing Net Zero.  We are on track to meet our 2025 emissions targets validated by the Science Based Targets initiative.
• Protecting the Planet.  We are supporting clients in implementing more than a gigaton of carbon emissions reductions by 2030.
• Driving Social Impact.  Since 2020, we have invested more than $1.5 billion in cash and in-kind support for social and planetary impact initiatives.

This work is never done. We will continue to find the most valuable, sustainable, and innovative solutions—for ourselves, our clients, and the communities we are a part of.

Christoph Schweizer Chief Executive Officer

From Bold Ideas to Exponential Impact

How Authenticity Unlocks Corporate Impact

by Maggie Schear and one other

Stay Silent? Speak Up? How CEOs Can Navigate a Polarized World

by Pete Engardio

How People Really Feel About GenAI

When we talk about GenAI, we often talk about GenAI at work. We know what leaders think will be its effect on business models, processes, and jobs.

We know far less about what consumers think about GenAI. BCG’s Center for Customer Insight has corrected that imbalance by surveying 21,000 consumers in 21 countries. Two findings jumped out at me.

Consumers in lower- and middle-income countries (LMICs) are more excited than consumers in mature markets. In all the LMICs surveyed, consumers were more excited about GenAI than concerned. Excited consumers expected AI to improve their daily lives, contribute to scientific and medical breakthroughs, or capture new forms of creative expression.

In Indonesia, for example, 49% were excited while 18% were concerned. In the countries where excitement is higher, including China, India, Thailand, and the Philippines, consumers are using ChatGPT to find information, assist in research, and even act as a personal assistant.

In the mature markets except for Japan and South Korea, the opposite was true. Concerned consumers outnumbered excited consumers. In Australia, for example, almost twice as many consumers were concerned (49%) as excited (26%).

The excitement in LMICs may be expressing the relative youth and optimism of their populations. Or it may reflect a hope that GenAI can help these countries leapfrog ahead in critical areas such as education and health care. GenAI-enabled virtual doctors, for example, could help meet strong demand for medical care.

Respondents in all countries are excited about GenAI’s potential in the workplace. This excitement was more pronounced in LMICs but present in all countries. In Japan and Germany, for example, that share of excited employees was 72%. In France, the least bullish mature market, still 58% of employees expressed excitement about GenAI at work.

The optimism about GenAI at work is nuanced. Only 19% of respondents are starting to worry about losing their jobs to AI or other technologies. But that share jumps to 27% of respondents who work in marketing and communications and 23% in finance and accounting. People in relationship-intensive roles, such as health care practitioners, counselors, and teachers, worry the least about their jobs.

As companies introduce GenAI in their products, services, and operations, responsible AI should inform everything they do. If consumers and employees have concerns about the ethical use of GenAI, they will reject it. Leaders need to put forth a balanced narrative, emphasizing its benefits and acknowledging its risks to inspire trust in users from day one. But overall, we are likely to be met with generally positive attitudes as we deploy AI at scale in home and at work.

Until next time,

P.S. In related news, BCG just announced a partnership with NASA and the Universities Space Research Association to create a GenAI lab for science and engineering. The lab will explore the benefits of new technologies to anticipate and prepare for extreme weather events. This collaboration draws on BCG’s best tradition of seeking to solve the world’s most pressing problems.

Consumers Know More About AI Than Business Leaders Think

by Nivedita Balaji and three others

BCG Announces Collaborations with NASA and USRA to Launch a Generative Artificial Intelligence Lab for Science and Engineering

BCG AI Radar: From Potential to Profit with GenAI

by Jessica Apotheker and six others

The Broadening Impact of AI-Powered Personalization

APRIL 15, 2024

In early 2022, I wrote to you about the staggering pace of change in how personalization can be used in retail —a topic core to some of my earliest projects at BCG when we were pioneers in this work. New technology and tools, including AI-assisted dynamic content generation, had enabled a move away from mass offers to personalized touchpoints at scale.

Since then, progress has increased rapidly. I recently checked in with Mark Abraham, who leads BCG’s work in personalization and will be co-authoring a book in October on the topic. He says personalization leaders are emerging in nearly every sector of the economy:

• In fashion and luxury , companies such as Pandora are reimagining how they conduct marketing throughout the funnel. The jewelry company has combined powerful brand marketing with one-to-one personalized touches to rejuvenate growth in a mature category—for example, inspiring existing customers to try new products and gift-givers to find the perfect item.
• In health care , large pharmacy chains are using AI to help patients maintain medication adherence, while digital native startups, such as Sondermind and Noom, are giving people personalized nudges toward achieving better mental health and weight loss goals.
• In financial services , companies like Voya are using personalization to help customers navigate retirement and improve financial wellness.
• In B2B , large hardware and software companies are arming their sales force with AI-guided next best actions, informed by a holistic view of customers’ touchpoints. These include how their executives engage with sales events and digital content as well as feedback from customer success teams and call centers.
• In retail and restaurants , personalization is no longer available only to the largest companies. Sweetgreen, the fast-casual chain, has combined off-the-shelf technology with modern data and analytics and strong marketing teams to launch personalization similar to what Starbucks and other leaders offer in their apps.

The number of marketing technology solutions promising personalization continues to explode, with large cloud providers honing their integrated offerings. In this environment, smart integration is more important than ever. It takes clear goals, sound use of data, tech architecture connected in a modular way, and a culture of experimentation and rapid scaling.

A small fintech offers a great example. The company integrated available AI solutions with its own systems as a means of automating marketing processes. The result: a system that can target content in a highly detailed way, leading to a double-digit improvement in conversion only six months after launching the pilot.

Generative AI at Every Step

More companies are scaling personalization, with GenAI enabling every step of the process. Large insurers and telcos are using the technology to process unstructured data from call center logs to detect customers at risk of churning. We have seen the accuracy of prediction models improve by 75% when incorporating this data.

A large pharma company reinvested the efficiencies from implementing GenAI into the process it uses to develop direct-to-consumer marketing content and increased the volume of personalized content tenfold.

And in the customer experience space, leading brands are working on ways to use GenAI for assistance and product discovery, with L’Oréal’s Beauty Advisor and Expedia’s conversational trip planning tool as great examples. I’ll plan to come back to this topic in six months, when even more change is likely to have happened. At that time, I’ll share with you the highlights from BCG’s Personalization Index, which every year showcases how leaders in this field are driving outsize growth and share gains. And I’ll talk more about our new book by Mark and BCG senior advisor David Edelman:  Personalized: Customer Strategy in the Age of AI .

Generative AI Will Change Your Business. Here's How to Adapt.

Reskilling in the Age of AI

What Smart Companies Know About Integrating AI

The power (and sunshine) of generous leaders.

APRIL 08, 2024

Happy eclipse day! I’m in Vermont with my family and friends, where we came looking for clear skies and a great experience of a total eclipse of the sun.

My travels north provided a great opportunity to finish up my early copy of The Generous Leader: 7 Ways to Give of Yourself for Everyone’s Gain . The book, which officially comes out tomorrow, April 9, is written by my BCG colleague Joe Davis —a friend since 1987, when we were both students at Harvard Business School.

Books about effective leadership are often making the rounds, so it was such a treat for me to read one by a person I know firsthand has always walked the talk. The book is a great read, drawing on the learnings of many terrific CEOs and Joe’s own personal stories.

The Job Has Changed, So Must We

The growing influence of AI, shifts in work models, the desire for increased diversity and inclusion, and heightened transparency and scrutiny are all transforming the role of leadership.

How can leaders evolve? 

A successful business in a world full of disruption and higher employee expectations calls for leaders who can focus on the bottom line and look beyond it—while also looking beyond themselves.

Joe says the answer lies in leading with humanity, with the heart, and with a sense of generosity. Those might sound like the soft skills that are nice to have in flush times. But Joe shows how becoming a generous leader allows both the leader and the organization to grow.

He lays out seven ways leaders can give of themselves for everyone’s gain:   

• Generous Communication. The best approach to building a lasting bond based on honesty, concern, and trust is to communicate in a personal and authentic way. Joaquin Duato, chairman and CEO of Johnson & Johnson, has a reputation for building such connections, which he said he’s able to do, in part, by always making an effort “to see others as more than their roles.”
• Generous Listening. Make room for the perspectives of others, ask probing questions, and be ready to learn from them. As you get better at the first step—being a generous communicator—you’ll find that the people around you are more willing to challenge and share honestly with you.
• Generous Inclusion. “The sooner a new leader learns they must empower others, the better…especially those you may not normally turn to,” said Joanne Crevoiserat, CEO of Tapestry, which includes the Coach, Kate Spade, and Stuart Weitzman brands. When you let others into the conversation, you’re welcoming collaboration. And when they’re included, they feel respected and empowered and get better at their jobs.
• Generous Allyship. This means not just being present for diverse individuals and supporting them but going further by creating opportunities and building a clear path toward future success. It’s about taking chances that make chances for others.
• Generous Development. Noticing and celebrating the successes of others validates hard work and lets them feel seen—and motivated to go further. Help others leverage their strengths to develop where needed, while also giving clear, timely, direct feedback.
• Generous Moments. United Airlines CEO Scott Kirby said to Joe, “Small gestures matter infinitely more than the big gestures.” Little acts of acknowledgment in important moments accumulate to have a big and lasting impact on your people.
• Generous Emotions. Joe calls this “giving up the mask”—a willingness to be emotionally accessible with authenticity and vulnerability, to share mistakes and hard times. I personally watched how Joe did this with enormous positive impact in multiple challenging situations over the years.

As best-selling author and organizational psychologist Adam Grant said about Joe and this book, “Too many leaders are takers rather than givers. Drawing on his extensive experience advising and running organizations, Joe Davis is on a mission to change that. This is a practical guide to becoming a servant leader.” 

Organizations of the future will depend on leaders who have honed their ability to be generous, inclusive, and authentic. These are valuable skills to learn, and The Generous Leader provides a great roadmap. Thanks, Joe!

The Generous Leader: 7 Ways to Give of Yourself for Everyone's Gain

Do Not Stop Asking Questions and Listening Carefully to the Answers

by Joe Davis

Turning Superheroes into a Super Leadership Team

by Jim Hemerling and three others

Infrastructure Is an Investment in Our Future

APRIL 02, 2024

Not that long ago, infrastructure was an “investment backwater,” in the words of the Financial Times . Those days are over. From 2018 to 2023, private investments in infrastructure grew by $700 billion, or 18% annually, faster than traditional private equity buyouts. During that time, these investments generated stable and resilient returns despite the market’s rollercoaster ride.

This investor interest in infrastructure is well timed. Fiscal constraints limit governments’ historic role in financing large projects just as the demand for energy transition and digital infrastructure projects is high. The Global Infrastructure Hub, a G20 initiative, for example, identified a funding gap for infrastructure of $15 trillion from 2016 t0 2040.

In 2023, however, infrastructure investors hit a bump in the road. The number of infrastructure deals declined by 18% in 2023, and fundraising fell from $176 billion in 2022 to $89 billion. My colleagues in BCG’s Principal Investors and Private Equity practice argue the slowdown reflected macroeconomic and geopolitical concerns of the moment rather than long-term retreat.

In their annual report on the state of infrastructure investing , they argue that private investment in infrastructure is helping the transition to a green and digital economy.

• The energy and environment sector received $1.1 trillion in infrastructure investments from 2018 to 2023, accounting for almost 45% of the sector’s total deal value. Renewable energy deals made up the bulk of these investments in the past two years.
• Electric vehicle charging infrastructure accounted for 40% of European deals in the transportation and logistics space.
• The digital infrastructure sector received nearly $420 billion in infrastructure investments in those five years, almost 20% of total deal value. In 2023, most of these investments in Europe focused on data center assets, while in North America most went to mobile data and end-user services.

Investing in infrastructure assets was once a buy-and-hold endeavor. Those days are over, too. No longer functioning merely as caretakers, infrastructure investors must act even more like private equity investors, seeking to improve operational performance and putting in place a “value creation playbook.” They will want to recruit executives who can actively manage businesses and instill a culture of operational excellence.

Constrained in their capacity to finance these investments themselves, governments should welcome private investors and ensure they are able to earn appropriate returns.

So many of the world’s large challenges, such as addressing climate change, enabling and scaling AI, and managing an aging population, require large infrastructure investments. Infrastructure is an investment in our future. It’s an opportunity for investors to help the economy, their communities, and the planet.

Infrastructure Strategy 2024

by Wilhelm Schmundt and six others

Infrastructure’s Future Looks a Lot Like Private Equity

by Andrew Claerhout and four others

Decarbonizing Mega Projects in the Middle East

by Benjamin Deschietere and seven others

Banking at a Crossroads

MARCH 25, 2024

Banks have historically played two vital roles: directly financing economic growth and indirectly advancing societal progress.

The rapid rise of mobile banking in developing countries shows how these two roles intertwine by creating economic and social opportunities for the “unbanked” population. Banks will also be critical in providing the $37 trillion needed to reach net zero goals by 2030. More broadly, banks touch every part of the economy, facilitating trade and economic activity that generates job and income growth.

For these reasons, business leaders need to understand what’s happening in the banking system. In a nutshell, the industry has still not recovered from the global banking crisis of 2008. The average return on equity has since declined by more than 450 basis points, and many banks, especially in Europe and parts of Asia, are trading below their book value.

In 2023, the failure of a few high-profile banks in Europe and the US exposed the industry’s continued vulnerability. Can banks fulfill their economic and social missions without fundamental transformation?

The State of Banking Today

My colleagues in BCG’s Financial Institution practice recently wrote a comprehensive report on the industry . Some highlights:

• Banks’ share of total financial assets has been steadily declining in most markets. Banks are ceding their raison d’être. Direct commercial lending by asset management firms (such as private equity funds) grew by 20% annually between 2017 and 2022, compared with banks’ asset growth of less than 5%.
• Banks spend more on technology than most other industries, such as consumer goods, industrial goods, media, and telecom, but have struggled to reap the benefits. Only about one-quarter of the industry’s tech spending is on innovation, including intuitive mobile banking apps or AI-powered decision making. Most of the rest goes to costly maintenance and updating of legacy systems.
• Regulators are likely to impose additional capital and liquidity requirements on banks. Managing climate risks, for example, will require structured end-to-end data platforms and new, complex data.

The $7 Trillion Opportunity

Despite these challenges, there is a window of opportunity for banks to create $7 trillion in shareholder value over the next five years—but only if they fundamentally reshape their organizations and collaborate with regulators.

• Banks need a new, simplified business model. Banks need to actively manage their business portfolio by exiting subscale businesses. They also need to reskill their staff, create digital end-to-end processes, and seamlessly partner with fintech firms. Banks that fully adopt this model can improve productivity by as much as 40%.
• Regulators need a new approach, too. Regulators need to balance profitability, innovation, systemic stability, and consumer protection. Otherwise, business will move to unregulated markets and increase the systemic risk regulators are trying to avoid. Regulators should adopt agile approaches to rule making, allow consolidation when it makes sense, and support the development of digital public infrastructure, such as a real-time interbank payments system.

Banks are too important for the overall economy and for societal progress to have underperformed for more than 15 years. It’s time for banks and regulators alike to take a fresh look at how they operate and how they regulate in the interest of stability, innovation, and sustainable profitability.

Featured content

To Seize a $7 Trillion Opportunity, Banks Need Bolder Strategies for Serving Customers and Society

by Saurabh Tripathi and eleven others

We Can Close the Climate Finance Gap

by Amine Benayad

Global Fintech 2023: Reimagining the Future of Finance

by Deepak Goyal and sixteen others

When Government and Business Work Together for Change

MARCH 19, 2024

Four years ago this week, I got one of the most unexpected and meaningful phone calls of my career at BCG. It was ten days after we had closed our offices due to COVID-19, like so many businesses all around the world. I was working from home, when Gina Raimondo, then the governor of Rhode Island, reached out to me directly. She said managing the COVID-19 situation was going to be more challenging than people realized, society wasn’t prepared for it, and the public and private sectors would have to work together if we were going to keep people safe.

She brought this message to multiple CEOs in those earliest days of the pandemic and led the development of new models of collaboration. She may have been the leader of the smallest state in the US, but she turned out to be a bellwether for governors and others around the country and the world. In the weeks and months that followed, leaders actively looked for collaboration between government and business to manage the unprecedented challenges—first to slow the spread of the disease and support a strained medical system, and eventually to develop, distribute, and administer vaccines.

Advancing Economic and Societal Impact

This past week, I had another opportunity to work with the now US Commerce Secretary Raimondo, as she led a presidential trade mission to the Philippines and a President’s Export Council visit to Thailand. It was a fascinating and energizing week. At every stop, the clear message from the Secretary and leadership in both countries was about the critical role of businesses to invest ambitiously, develop new capabilities, and form new partnerships with one another and with governments to advance the economy and society.

We heard from Filipino and Thai officials not about ideology but about the practical steps they were taking to support and encourage business investment in their countries. This was the case whether the focus was on digitization, tackling climate change and the energy transition, education and reskilling for a world of AI, building infrastructure, strengthening cyber protections, or advancing other critical issues.

As examples, in the Philippines, President Marcos meets with a business advisory council for two hours every other Thursday to focus on specific actions to accelerate economic progress and remove obstacles. The country recently passed amendments to its Renewable Energy Act to allow 100% foreign ownership of renewable assets.

And in Thailand, Prime Minister Thavisin has been on the road with his mission to seek partnerships with both local and foreign businesses and to attract foreign direct investment.  He has also guided the Thai Board of Investment to focus on building infrastructure and attracting new manufacturing hubs for electric vehicle components and other segments of high-tech value chains. A critical enabler will be attracting investment from international companies capable of developing engineering and tech talent within the Thai labor force.

We spoke with US and local business leaders, as well as representatives of local chambers of commerce, and they were open about what was needed to go faster. It starts with addressing basic issues, such as excessive regulation and paperwork related to customs and borders, but also includes more fundamental challenges, such as improving workforce skills, increasing investment support, and working on free-trade agreements. There was a lot of enthusiasm for the Indo-Pacific Economic Framework for Prosperity, which will include 14 countries.

A $2 Trillion Opportunity

As we look at the challenges ahead, it will be essential to strengthen the business-government relationship. A BCG study sponsored by Australia and endorsed by ASEAN economic ministers last October points to a $2 trillion digital opportunity for ASEAN countries by 2030 if they establish a bold agenda leveraging both the public and private sectors.

And of course, we need collaboration to address the climate crisis. The key technological solutions are likely to come from business but will need governments to invest and remove roadblocks to deployment if we’re to reach the pace of progress we need.

The relationship between government and business is never perfect, no matter the government and no matter the business. But when leaders from both sides are committed to drive real change and find models to work together, the impact can be dramatic.

Study on the ASEAN Digital Economy Framework Agreement

How Public-Private Ecosystems Can Help Solve Societal Problems

by François Candelon and five others

Public Sector Consulting and Strategy

Advice from women leading and shaping the genai revolution.

MARCH 13, 2024

GenAI proficiency is a requirement for some of today’s and many of tomorrow’s jobs. It is an accessible technology that does not require programming skill. But could it also be an inclusive technology, opening doors for women in the tech industry?

Rather than wait and see, several of my women colleagues are working to level the playing field. They recently surveyed more than 6,500 employees of tech companies in Germany, India, Japan, the UK, and the US to understand how women are using GenAI at work. They also talked to women leaders at tech companies, providing both a quantitative and qualitative look at how quickly women are adopting GenAI—and what’s holding them back.

The results contain positive and negative signals.

• Women and men use GenAI at work similarly. About two-thirds of each group use the technology more than once a week.
• Senior-tenured women who work in tech functions are adopting GenAI at a higher rate than their colleagues who are men.  These women in tech functions were 10 percentage points more likely than men in those functions to say they considered GenAI to be critical to their job success.
• The picture is less encouraging for junior women in tech . When it comes to using GenAI more than weekly, they lagged behind their peers who are men by 7 percentage points.
• And it’s even worse for junior women in nontech functions, such as HR, legal, and finance. Junior women in these functions lagged behind their peers who are men by 21 percentage points.

Lessons for All Companies

The survey and interviews offer general lessons for all companies, not just tech companies. “There is a small window of opportunity to make progress on the gender gap,” a director at a Fortune 500 AI company said.

The women executives we spoke to had clear advice for companies to encourage greater and more even adoption of GenAI.

• Leaders should talk about the importance of GenAI to corporate and career success. They then need to put in place change management initiatives to encourage all women, not just leaders, to embrace GenAI. “Leaders need to recognize and elevate GenAI such that people are excited,” a board member of an IT services company said.
• Companies can create targeted upskilling programs that encourage experimentation and build confidence among women. “Our company has courses that help explain for each function what are the applications of GenAI,” a vice president of a large tech company said.
• Businesses should develop a pilot environment that offers a safe space for employees to explore and test GenAI tools while following responsible AI policies. As the vice president of an enterprise tech company said, junior women “may be less likely to take risks without clear policies.”

In the spirit of International Women’s Day last week and its 2024 theme—inspire inclusion—we have an opportunity to intervene earlier in the tech adoption curve to ensure that the benefits of GenAI are available to everyone.

Women Leaders in Tech Are Paving the Way in GenAI

Women in Tech

How Grundfos Leveraged Workplace Data to Advance Diversity and Inclusion in the Manufacturing Industry

Space: the final frontier.

MARCH 04, 2024

Business leaders have their work cut out for them as they navigate the incredible advances in artificial intelligence and a whole host of other fast-evolving changes.

And that’s just here on earth.

It’s also time to get used to the idea of a space economy . For CEOs, space offers a new frontier in innovation and sources of value. It’s important for all business leaders to get smart about how much they depend on space already (think GPS and connectivity) and to get moving on the potential benefits ahead. The commercialization of space is lowering barriers to entry and providing companies with powerful opportunities in communication, observation, and location.

I recently chatted with my colleague Troy Thomas , who leads BCG’s space topic, about the space economy, its potential for growth, and the challenges ahead.

To Boldly Go…

Opportunities in satellite services offer huge potential for industrial goods companies through precise communication, navigation, and earth imagery. Satellites can provide data-driven insights, enhance operations, help with sustainability goals, and unlock significant value.

Troy and his team estimate that some industrial goods companies can see up to a 15% increase in gross profit margins, 25% revenue increase, 10% decrease in operating costs, and 10% reduction in fuel within one year of rolling out integrated space-based services.

There’s a broad range of industries that can benefit, including agriculture, aviation, automotive, logistics, energy, mining, and construction. Logistics companies could reap benefits from fleet management, equipment monitoring, and autonomous operations, leading to improvements in productivity and reductions in cost. Long-haul trucking can use satellites to enhance smart navigation and optimize routes, increasing efficiency and cutting back on fuel.

John Deere is a great example of an organization digging into these opportunities. The company recently announced one of the largest ever satellite communications partnerships, with SpaceX’s Starlink.  Satellite connectivity will further transform smart agriculture for John Deere, enabling automated planting and harvesting in remote locations that lack internet service.

Volkswagen Group is another interesting example. The company has partnered with Germany’s Isar Aerospace to use satellite connectivity for self-driving cars.

The space sector is expected to have a market value of more than $1 trillion by 2040. That growth will come primarily from four areas of digital and advanced manufacturing:

• Small satellite manufacturing , with commercial, cost-effective, off-the-shelf components that increase affordability and advances such as the use of ceramic composites, which reduce weight and protect satellites from radiation
• Payload modernization , with new software-defined sensors, high throughput transponders, and on-orbit processing of data powered by AI
• Faster connectivity , with high-speed downlink radios and relays and laser-based communications among satellites, forming a smart, global, ultra-high-speed network that connects with terrestrial 5G
• Next-generation launch capabilities , such as fully reusable launch vehicles, satellite “ride shares” to reduce costs, commercial spaceports, and “green” propellants

Essentials to Live Long and Prosper

The commercialization of space comes with increased congestion , and there have been numerous close calls involving debris, satellites, and spacecraft—even crewed space stations. The likelihood of collisions will continue to grow. There are right now about 4,400 satellites in different “orbital bins,” and it’s estimated there will be thousands more by 2030. The increased debris from spacecraft is particularly hazardous, with more than 30,000 such objects currently being tracked and moving at speeds of up to 29,000 km/hour.

To manage the risk of collision, government and industry will need to work together to advance technologies in space environment management, ensuring safe and sustainable space operations.

I can’t write about space without also mentioning geopolitical competition. As space grows in business importance, it’s also growing in strategic military importance. A key challenge of our time is ensuring the sustainable development of the space domain while seeking to avoid conflicts that extend into space.

As we focus on the commercial opportunities in space, the promise of space exploration still looms large. The James Webb Space Telescope, the recent return to the moon, and other success stories ignite the imagination and provide enormous scientific value.

As someone who grew up with Isaac Asimov, Arthur C. Clarke, and Star Trek, it’s been remarkable to see the concept of space move from the realms of science fiction and science to a much more everyday reality for business. We’ll need to see collaboration in order to advance a responsible and sustainable space economy, but the opportunities for businesses to create value and competitive advantage—on earth and beyond—will skyrocket.

Space Sector

Strategies for Space Agency Success in a Commercial Era

by Troy Thomas and four others

Herding Rockets: Improved Space Traffic Management Will Accelerate Industry Growth

Extending and expanding impact as leaders.

FEBRUARY 26, 2024

One of the things that inspires me in my work is hearing stories of how leaders take capabilities they’ve built during their careers and apply them in new and important areas.

A recent example has to do with Lewy Body dementia, a horrible disease and the second most common form of neurodegenerative dementia in the US, afflicting more than 1 million Americans and millions more around the world. It’s frequently confused with Alzheimer’s and Parkinson’s and as a result takes much longer to diagnose. And it’s woefully underfunded relative to its incidence, receiving one-eighth the research funding per patient of these better-known diseases.  

Lewy Body dementia is also the disease that claimed the life of the husband of my close friend and mentor, Sandy Moose. Sandy has had a remarkable career. She started at BCG in 1968—the first woman to work as a management consultant and then partner in our industry, now serving as one of our senior advisors since retiring 20 years ago. Since her retirement, she also served as the lead outside director of Verizon Communications and chaired the boards of trustees of the Alfred P. Sloan Foundation and the Museum of Fine Arts in Boston, among other roles.

When Eric, Sandy’s husband, began showing challenging symptoms, she was frustrated—as was he—by the lack of a clear diagnosis. Because they didn’t know exactly what he had, they couldn’t seek out the support they needed—and they weren’t able to prepare for how quickly his life would be cut short. Sandy had asked several doctors if it might be Lewy Body dementia, but she didn’t get any affirmation from a doctor until two days before Eric died.

Building a Framework for Progress

Afterwards, Sandy was determined to understand what went wrong—where the gaps in knowledge were and what was holding back the ability to tackle this devastating disease. She brought her years of experience alongside a pro bono BCG team and together they reviewed everything written on the topic in recent years. They pulled out the major themes and analyzed the current state of research and funding.

The team created a novel perspective on the disease, setting the stage for a discussion with two dozen leading scientists from academia, government, and the biopharma industry in the US and the UK. Their work culminated in an articulation of the most urgent priorities, which are laid out in the recent publication of an article in a highly regarded peer-reviewed neuroscience journal.  

In the business world, we often say you can’t manage what you don’t measure. Sandy’s work with Lewy Body dementia has led to a similar understanding. In this case, we are missing clear diagnostics and biomarkers. Until we get those, we’re in a vicious cycle. We’re unable to design research programs that will attract sufficient funding with the dedicated scientists needed to make progress on foundational work. And without that progress, the biopharma industry is constrained in its ability to develop therapeutic interventions.

This new effort has given scientists and funders a framework that can help address those gaps, redirecting research priorities and investments that can make a difference for so many patients and their families.

Impact Beyond a Career

Talking to Sandy about her experience and reading the impressive output from this work has led me to think more broadly about how we can extend and expand our impact as leaders. Sandy took the skills she had honed during an amazing business career and applied them to an area where she had never worked. She formed new teams and now talks expertly about protein folding, biomarkers, and research funding as if she were a biologist and not an economist.

As she put it to me recently, “I didn’t intend to embark on this, but it’s given me a whole new sense of purpose and mission in the sixth decade of my career.” As someone just starting the fifth decade of his, I find that really inspiring and hope it can be for you, too, whatever your decade.

Lewy Body Dementia: Overcoming Barriers and Identifying Solutions

Leadership with a Powerful Purpose

Why the World Needs Generative Leaders

by Jean-Michel Caye and five others

Explore Past Editions

2024 past editions.

May 13, 2024 - The Nine Global Forces Reshaping Business May 08, 2024 - Five Truths (and One Lie) About Corporate Transformation May 01, 2024 - What Is Happening in Sustainability Reporting? April 24, 2024 - How People Really Feel About GenAI April 15, 2024 - The Broadening Impact of AI-Powered Personalization April 08, 2024 - The Power (and Sunshine) of Generous Leaders April 02, 2024 - Infrastructure Is an Investment in Our Future March 25, 2024 - Banking at a Crossroads March 19, 2024 - When Government and Business Work Together for Change March 13, 2024 - Advice from Women Leading and Shaping the GenAI Revolution March 04, 2024 - Space: The Final Frontier February 26, 2024 - Extending and Expanding Impact as Leaders February 20, 2024 - In Uncertain Times, Control What You Can Control: Costs February 13, 2024 - The Global Race for Economic Growth February 08, 2024 - India: A Nation on the Move January 29, 2024 - Why We Need Catalytic Climate Action—and a New Resource to Get Us There January 23, 2024 - Davos Reflections and the Road Ahead January 16, 2024 - Transforming the Poetry of GenAI into the Prose of Business January 12, 2024 - Navigating the Dramatic Shifts in Global Trade

2023 Past Editions

Decemeber 18, 2023 - A Business Case for Bold Action in 2024 December 12, 2023 - Capturing Value from GenAI December 05, 2023 - Encouraging Progress at COP28 November 27, 2023 - Empowering People Management for a Future in Flux November 21, 2023 - Is Consumer-Led Growth a Thing of the Past? November 14, 2023 - A Wake-Up Call on Climate Action November 07, 2023 - The Youthful Promise of Africa October 31, 2023 - Is M&A About to Bounce Back? October 23, 2023 - A Game-Changing Approach to Pricing October 17, 2023 - How CEOs Use Their Time October 09, 2023 - Creating New Businesses with Generative AI October 02, 2023 - Reskilling for Tomorrow's Work September 26, 2023 - What We Have Learned About Human-AI Collaboration September 18, 2023 - Sparking a Second-Half Comeback for the UN’s Sustainable Development Goals September 12, 2023 - The Hard Edges of a Soft Landing: Planning for the Challenges of 2024 September 06, 2023 - A Blueprint for the Energy Transition August 28, 2023 - The Importance of a Thriving Innovation Culture August 21, 2023 - Methane Matters—Much More Than You Think August 01, 2023 - Taking Time to Recharge July 24, 2023 - Navigating Through Negativity July 18, 2023 - Change is Hard July 10, 2023 - Insights from the Frontline of Generative AI June 26, 2023 - Celebrating 60 Years of Impact June 20, 2023 - Three Top-of-Mind Priorities for Chief Marketing Officers June 14, 2023 - AI at Work: Closing the Gap Between Leaders and Employees June 05, 2023 - How Board Chairs Can Embrace a Convergence of Transformations May 30, 2023 - Mental Health: You Are Not Alone May 22, 2023 - Supply Chain Decarbonization: Urgency and Opportunity May 17, 2023 - Surfing the Crest of the Generative AI Wave May 10, 2023 - Fintech and the Case for Optimism May 02, 2023 - How Leaders Talk When the Outside World Can't Hear—and Why It Matters April 24, 2023 - Cybersecurity and the C-Suite April 17, 2023 - Looking Beyond Layoffs to Build Organizational Resilience April 11, 2023 - Generative AI for the Enterprise April 04, 2023 - Build for the Future, Today March 28, 2023 - CEO Outlook— Resilience Investments Pay Dividends March 20, 2023 - Where Do Your Strongest Businesses Really Stand? March 14, 2023 - Perspectives from the Middle East March 07, 2023 - The CEO's Guide to the Generative AI Revolution February 27, 2023 - 27,000 Employees Prove the Value of Workplace Inclusion February 21, 2023 - Accelerating Decarbonization at Scale February 13, 2023 - Soft Landings Can Come with Hard Challenges February 07, 2023 - Gaining the Upper Hand on Costs January 30, 2023 - Global Trade is Changing Dramatically. Here's How. January 23, 2023 - Davos Takeaways from A to Y January 17, 2023 - BCG at Davos 2023 January 10, 2023 - Areas for Optimism and Opportunity in 2023

2022 Past Editions

December 20, 2022 - Four Simple Themes for a Complex World December 12, 2022 - Winning in a Digital-First World December 05, 2022 - Scaling Disruptive Technologies with BCG X November 29, 2022 - Silver Linings in the M&A Outlook November 22, 2022 - Taking Stock after COP27 November 14, 2022 - AI Works Best for Companies When It Works for Employees November 07, 2022 - A Prescription for Change Through Ten Years of Value-Based Health Care November 01, 2022 - Finding Light in a Dark Winter October 24, 2022 - Mobilizing for Progress in Decarbonization Technologies October 18, 2022 - Get Ready for the Metaverse October 10, 2022 - Pricing Tools, Sophistication, and Judgment Are More Important Than Ever October 03, 2022 - The Pulse of Corporate Innovation: BCG's 2022 Most Innovative Companies September 27, 2022 - The Power of AI in Manufacturing September 20, 2022 - Solving the Green Consumer Puzzle September 11, 2022 - The Best Organizations Turn Uncertainty into Opportunity September 06, 2022 - Unlocking $1 Trillion in Climate-Related Investmentscc August 22, 2022 - Family Business, Conflict, and Lessons for Leaders Everywhere August 02, 2022 - Why Deskless Workers and Leaving—and how to Win Them Back July 26, 2022 - Managing a Trillion Dollar Chip Shortage July 19, 2022 - AI as a Tool for the Planet July 12, 2022 - Revisiting Japan: Perspectives on Today's Global Business Environment July 05, 2022 - How CEOs Can Profit from the Source June 27, 2022 - Bruce's Timeless Insights on Corporate Revitalization June 21, 2022 - Ecosystems for the Rest of Us June 13, 2022 - The Upstream Scope 3 Imperative and Opportunity June 06, 2022 - Organizing for Fractal Advantage May 31, 2022 - The Evolving Role of Today's CEO May 23, 2022 - What Builds, Sustains, and Destroys Trust May 17, 2022 - An Optimistic India: The Power of Policy Choices May 10, 2022 - A Global Health Crisis We Can Predict—and Prevent May 02, 2022 - The Corporate Hitchhiker's Guide to the Metaverse April 26, 2022 - In Pursuit of Long-Term Sustainability April 18, 2022 - On the Brink of a Global Food Crisis April 11, 2022 - Are You a Generative Leader? April 04, 2022 - Home Improvement on a Foundation of Data and AI March 28, 2022 - Four Ways to Get More from Your DEI Efforts March 22, 2022 - Data and AI Are the Missing Links on the Path to Net Zero March 15, 2022 - Invasion of Ukraine: Early Assessment of Economic Impact February 23, 2022 - The Future of Marketing and Sales is Here February 14, 2022 - Synthetic Biology: Coming to Disrupt an Industry Near You February 07, 2022 - AI and the Retail Personalization Revolution January 31, 2022 - Supply Chain Resilience for the Crises to Come January 24, 2022 - The Unexpected Insights from Virtual Davos 2022 January 18, 2022 - Winning the Race to Net Zero January 10, 2022 - Reasons for Optimism in the New Year

2021 Past Editions

January 12, 2021 - Can China Reach Its Bold New Climate Goals January 19, 2021 - Demystifying Global Consumer Choice January 26, 2021 - How Supply Chains Can Be a Game-Changer in the Climate Battle February 02, 2021 - How Business Can Help to Crush the Pandemic February 09, 2021 - Overthrowing Your "Inner Dictator" February 16, 2021 - Getting Transitions Right—in Government and Business February 23, 2021 - Gearing Up for the Quantum Leap March 02, 2021 - A European Lens on Global Trade in a Rapidly Shifting World March 09, 2021 - How to Be a Better Ally March 16, 2021 - Busting Today's Five Biggest Inflation Myths March 23, 2021 - Let the Light In—How Transparency Enables Integrity and Progress March 30, 2021 - Deleting the (Traditional) Meeting April 06, 2021 - Six Principles for Closing the Public Policy Impact Gap April 13, 2021 - The Superpower of Humans Plus AI April 20, 2021 - Mind the Innovation Readiness Gap April 27, 2021 - How Business Can Lead the Way from Pandemic to Endemic May 04, 2021 - Deep Tech for the Rest of Us May 11, 2021 - Five Issues on the Minds of US CEOs May 18, 2021 - Ending the Global Pandemic in 2022 May 25, 2021 - Five Issues on the Minds of European CEOs June 01, 2021 - Winning the Post-COVID '20s—and Introducing BCG's Next CEO, Christoph Schweizer June 08, 2021 - "Safety First" in a Cyber World June 15, 2021 - Reimagining Imagination for Your Business June 22, 2021 - Supercharging Climate Action, Starting With Supply Chains June 29, 2021 - Looking Forward—From France July 06, 2021 - Five Issues on the Minds of Japanese CEOs July 13, 2021 - Sustainable Resource Scarcity Can Shape Competitive Advantage July 20, 2021 - Three Things to Know About the Global Growth Outlook July 27, 2021 - Advice from Board Chairs on Building Crisis-Proof Leadership August 02, 2021 - Seven Recommended Reads for Business Leaders August 09, 2021 - What Delta Means for Leaders August 30, 2021 - The Power of Community in Advancing ESG Metrics September 07, 2021 - A Sustainability Transformation from the Inside Out September 14, 2021 - Using AI to go from Reactive to Proactive in Health Care September 21, 2021 - Four Learning, One Year into Our Net-Zero Journey September 27, 2021 - A Final CEO Reflection—The Four Components of a Lasting Legacy October 05, 2021 - Transforming for the Future Through Sustainability and AI October 11, 2021 - What Makes Work Productive? October 19, 2021 - Making Sense of the Bottleneck Economy October 25, 2021 - Uncovering the Breadth and Depth of Sustainability November 01, 2021 - Companies Pushing Countries—A Necessary Nudge on the Path to Net Zero November 08, 2021 - An Inside View from COP26—Week One November 15, 2021 - A Measure of Hope—and a Great Synthesis—After COP26 November 22, 2021 - Learning How to Learn November 29, 2021 - Aiming for a Virtuous Cycle in AI December 06, 2021 - Resilience and Reinvention in the Fortune Future 50 December 13, 2021 - Unlocking Value with AI While Aligning AI with Our Values December 21, 2021 - The Five Challenges on Our Minds as We Head to 2022

2020 Past Editions

Edition 29 - Harnessing the Three Powers of 2020 Edition 28 - Future-Ready Companies Outperform Today Edition 27 - Learning from Great Leaders—Jean-Paul Agon and Carol Tomé Edition 26 - Concrete Actions that Flip the Odds of Digital Success Edition 25 - Can This Economic Recovery Last? Edition 24 - A Call for Boldness and Bridge Building Edition 23 - Leading with Humanity in Uncertain Times Edition 22 - The B20 and Finding Consensus in Challenging Times Edition 21 - Capturing Real Value from AI—Latest BCG-MIT SMR Research Edition 20 - Building Advantage in Adversity Edition 19 - A BCG Playbook for Our Times Edition 18 - Vaccines, Treatment—and Implications for Business Leaders Edition 17 - The Collaborative Effort We Need on Climate Edition 16 - Jazz vs. Symphony in the COVID-19 Era Edition 15 - Ensuring AI Lives Up to Your Values Edition 14 - BCG's Net-Zero Climate Commitment Edition 13 - How Transformative CEOs Lead in a Crisis Edition 12 - A Planning Season Like No Other—Four Principles for 2021 Edition 11 - Rethinking Digital Transformation Edition 10 - Navigating the New Reality of Global Trade Edition 9 - A Unique Partnership, Reimagined—TED@BCG 2020 Edition 8 - Biological Mindset + Digital Levers = Resilience Edition 7 - Can Remote Work Pave the Way for New Global Leadership Models? Edition 5 - Climate Doesn't Have to Be the Next Victim of COVID-19 Edition 6 - The Purpose Imperative Edition 4 - Protecting the Vulnerable Will Protect Us All Edition 3 - Reflections on Sparking Creativity in a Crisis Edition 2 - How to Get Work Done in the New Reality Edition 1 - Personal Reflections—and Introducing the New Reality Weekly Brief

Cover Letters

Your cover letter is just as important as your resume. You have written your resume as a document that represents you, and the recruiting manager has written a position description that reflects the organization’s needs. A cover letter ties them together. It’s more specific than a resume and highlights projects or efforts that align with the requirements of the position or program.

You should plan to submit a cover letter along with your resume (or CV) for every position or program you apply for. The only exception is if the internship/job posting specifically notes not to include one.

• Alignment: Left aligned, after the header
• Length: 1 page and 3-4 paragraphs at maximum

Date, Recipient, Salutation

• Date: This is first after your header. Spell out the month and include the year.
• Recipient: This comes after the date and is usually 3-5 lines. Include the organization’s name, the name and title of the person you are addressing (if you have this information), and the organization’s address or other contact information (if you’re able to find this).
• Salutation or Greeting: If you are addressing a specific person, use their name in the salutation (“Dear Firstname Lastname” or “Dear Mr./Ms. Lastname”). If not, use something generic such as “hiring manager,” “hiring committee,” or “selection committee.”

Letter Body

The body of your cover letter should be a maximum of 3-4 paragraphs and address 3 main points: what you know about the organization, what you are applying for, and what you can do for them.

• Introduction and Interest (paragraph 1): Include what you are applying for, what you know about the organization, and why you are interested
• The Evidence (paragraph 2): Outline what you can do for them, make a case for why you are the candidate to hire
• The Connection (paragraph 2-3): Make the connections between the desired qualifications listed in the posting to your experience and skills.
• The Closing (paragraph 3-4): Reiterate your interest, express gratitude, and note that you look forward to hearing from them. Also, provide contact information if it is not in the header.

Use “Sincerely” followed by your full name on the next line. This is your electronic signature. You can use a script font if you prefer or keep it the same as the rest of the letter.

• Cover letter sample 1 (pdf) , showing paragraph style
• Cover letter sample 2 (pdf) , showing bullet style
• Cover letter sample 3 (pdf) , showing preferred name and bullet style
• Attend a cover letter presentation to get started. Check the calendar for upcoming sessions
• Read more tips and advice on the blog
• Bring a draft in for a cover letter review

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Cover Letters

A well-written cover letter should always accompany your resume or application. Its purpose is to introduce yourself, expand on the experience in your resume as it relates to the job description, and explain why you are interested in that specific company/organization.

Cover Letters for Job and Internship Listings

A good cover letter should:

• Open with a compelling paragraph that tells a story and catches the reader’s attention.
• Connect your experiences and qualifications with the desired qualifications of the employer.
• Include specific information about why you want to work for the employer and industry.
• Exemplify clear and concise writing skills with NO grammar/spelling errors.
• Demonstrate your knowledge of the position AND the company.

More detailed information about writing a cover letter can be found in the Career Readiness Workbook . You can also utilize Ramped Careers AI Tool to help write a personalized cover letter for any position.

Helpful Links

• Crafting a Compelling Cover Letter
• Cover Letter Samples

You should always include a cover letter for each application, even if the application indicates the cover letter is optional. Writing a customized cover letter shows your willingness to put more effort into the application.

It is recommended that you address your cover letter to the recruiter or hiring manager by name if you know it. If you do not know the name of the recruiter or hiring manager, keep it simple with “Dear Hiring Manager.”

It depends on the recruiter and hiring manager. Many recruiters and hiring managers may read the cover letter and others might focus on the resume to determine your qualifications for the position. To be safe, be sure to write a customized cover letter for every position you are applying to.

Cover letters and resumes are professional documents used to help you secure a job or internship. It is recommended that the cover letter have the same format style as your resume, including the header with your contact information, same font and font size, and same margins.

BRET Career Development ASPIRE Program

Bridge to bcg consulting workshop.

Posted by hagansa2 on Wednesday, February 21, 2024 in Announcements , Path to Career Resources , Workshops and Seminars .

Join the Boston Consulting Group for a Bridge to BCG immersive workshop designed to help you test-drive the BCG case team experience.

As a Bridge to BCG participant you will:

• Think strategically while solving a case in a realistic BCG case team simulation
• Team with Bridge participants and BCG consultants to understand the why and how behind case work
• Network and connect with BCG consulting staff and your fellow Bridge participants
• Get to know our culture and learn about life as a consultant
• You will be granted  the opportunity to interview for a full-time position

Selected candidates will have the opportunity to join one of two program options:

• In-person: May 21-22, 2024
• Virtual: May 15-16, 2024

Offering both an in-person and virtual option allows us to expand our reach and provide more flexibility for participants. Both programs will provide you with the opportunity to test drive the consulting experience and get to know our consulting staff and fellow participants.

If selected for the in-person program, you will be invited to the Bridge to BCG program location closest to your campus or home. We will cover round-trip transportation and one night at a hotel for out-of-town guests. Meal and reasonable expenses associated with the program are covered for all attendees.

ELIGIBILITY

Bridge to BCG is open to candidates currently enrolled in, or who have recently completed, advanced degree programs and are looking to start their full-time careers with BCG in 2025. Eligible candidates must currently reside in the United States or Canada and either attend or have an affiliation with a school or hospital within these countries.

Eligible degree programs and pathways include:

• Postdocs (including industry postdocs)
• MDs and MD residents/fellows
• Practicing physicians 
• Professors 
• Current non-MBA masters with a JD, MD, or PhD

APPLICATION PROCESS

Our Bridge to BCG application has two components.

• Consulting – Full-time application (5-10 minutes)
• Video cover letter (45 minutes): An email invitation to complete the video cover letter will be sent on a rolling basis throughout February and March. All videos are due by the end of the day on Monday, March 25, 2024. For detailed information on the video cover letter, please  click here .

If you do not complete all required components, your application will be considered incomplete.

Applicants can expect an update on their application status by mid-April. Bridge finalists will be invited to an interview that includes two components: a 30-minute Zoom interview focused on your experience and capabilities, and an online case exercise.

You can access interview prep materials through our BCG Accelerate Program . 

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Beyond the Lab: Data Science

BCG - Boston Consulting Group

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Important Notice

New BCG Careers Experience Coming Soon

We're excited to announce that we will soon transition to a new, enhanced candidate portal to provide you with a better application experience. Our existing system will retire on May 28, 2024 .

How This Affects You:

• Please complete any application activities in progress by May 28 (8 a.m. CET), such as saved applications in progress or requested material uploads.
• If you have an existing careers profile, we'll automatically transfer it to the new portal.
• To access your migrated profile, you'll need to create a new login on our new BCG Candidate Portal. It's crucial to use the same email address from your existing portal profile to link your new login to your existing data.

We appreciate your understanding during this transition and look forward to bringing you a more dynamic and user-friendly application process.

Thank you for your interest in joining our team!

Consultant, Financial Institutions

Capabilities:

Industries:

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact. Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

Practice Area Profile

What you'll do.

• Be part of and collaborate in BCG project teams consisting of high performing members with different backgrounds, conduct detailed fact-based analyses and develop state of the art strategic solutions
• Work closely with clients to understand their issues, create strategies for change, win buy-in for your recommendations, and collaborate with fellow BCGers to transform client potential into performance

What You'll Bring (Experience & Qualifications)

• Strong academics from a top-tier institution
• Consultant: A minimum of 5-6 years of work experience within a leading strategy consulting firm (serving financial institutions/financial services) or a financial institution or fintech company
• Experience from solvi­­ng complex business problems and devising business strategies, through formulating research and/or analytical approaches involving quantitative analysis, conceptualization, and communication of strategic solutions
• Excellent communication and persuasion skills and written and spoken English
• Excellent numerical skills, analytical and structured with the potential to conduct advanced quantitative analysis 
• Solid business acumen, commercial capabilities and business judgement
• Team player, open and positive in a group dynamic

Discover more about BCG's Financial Institutions Practice

Date Posted:

Boston Consulting Group is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, age, religion, sex, sexual orientation, gender identity / expression, national origin, disability, protected veteran status, or any other characteristic protected under national, provincial, or local law, where applicable, and those with criminal histories will be considered in a manner consistent with applicable state and local laws. BCG is an E-Verify Employer. Click here for more information on E-Verify.

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