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Home , Management consulting

QUALIFICATIONS TO ENTER THE FIELD

OFFICE OF CAREER SERVICES + Most consulting firms tend to hire people with advanced Career Opportunities in degrees, such as law, , and other specialty areas or with CONSULTING: AND some specialized experience. STRATEGIC + Academic excellence,

and team skills developed from Description of the field extracurricular activities, and Management are professionals who are trained to solve private sector experience problems, devise , and improve the general health of their clients derived from internships are no matter what the industry. Management consultants help clients solve important in the consideration specific problems that are usually focused on the short-term, while process. consultants research and develop strategies for attaining the long-term goals of the company. Companies hire consultants not only for + Besides outstanding academic their problem-solving abilities, but also for their objectivity. records, firms want people who are problem solvers, creative Typically, consultants conduct research, analyze data, prepare reports, thinkers, good communicators, and present findings; less frequently a management will and who have a keen become involved in the actual implementation of the plan. Profits are understanding of and interest in derived from fees to clients, which consequently break down into "billable business. hours." In general, the work environment is fast-paced, stimulating, and involves long hours. Workweeks of between fifty to seventy-five hours are + The following qualities are not unusual. essential for consultants:

Management consultants tend to work in teams of three to four individuals o Excellent oral and written with one person assuming the leadership role. Travel is another important communication skills aspect of a management consultant's professional life, as spending time o Strong analytical abilities with clients on the premises is an essential part of the consultant's (including quantitative responsibilities. If you are working on a management case, you may spend methods) three to four days at the client’s site. It is not unusual for a consultant to fly o Attention to detail and out every Sunday night and fly home every Friday night until the project is deadlines finished. o Proven leadership capabilities Career Paths o High energy and enthusiasm o Ability to work in teams While different firms have different titles for the same positions, entry- o Excitement about consulting level positions traditionally include: o Success on the “airplane Analysts/Research Associates: These positions are typically filled by test” — would a colleague undergraduates with salaries ranging from $65,000 to $75,000, with want to sit next to you on a signing bonuses of between $3,000 and $7,000. long flight? Associates/Senior Associates: These positions can be filled by M.A., o Interpersonal skills M.B.A., Ph.D. and J.D. graduates with salaries ranging from $85,000 to

$125,000, with signing bonuses ranging from $5,000 to $25,000.

The type and amount of work depend on the kind of project the

consultants are working on. The three main types of cases are strategy,

management (which includes operations and business ), and

Updated: 6/18 systems design. It is possible for a management consultant to devote an THE CASE QUESTION entire career to one company. Beginning at the associate level, an individual can work up to manager, managing director, vice president to + The most important part of the partner and/or principal. Some management consultants will focus on one interview is the case question. industry, while others will work with a wide array of clients from various Consultants must be able to sectors. effectively synthesize large quantities of foreign data, More typically, after a few years with one consulting company, a structure an approach to a given management consultant may choose to leave the firm and work for one of client issue, and hypothesize his or her clients. In this situation, the management consultant will often logically and creatively. The assume a strategic planning role for the organization. The possibilities, case question is designed to test however, are not limited to this one function. a candidate’s ability to think logically, to determine tolerance Application and Interview Procedures for ambiguity and data overload, to observe his/her The recruitment staff in the top management consultant firms play a thought process, to assess poise major role in the application process. Interested candidates should inquire and communication skills under about each firm's deadlines and forward resumes and cover letters pressure, and – ultimately – to accordingly. The traditional time-line starts with information sessions in determine if the candidate the early fall and interviews beginning as early as October and concluding would be a good addition to the as late as April. Apply to a earlier rather than later in the consulting firm. academic year, and always keep in mind that personal, professional, and alumni contacts can be very helpful when trying to get hired by a + For more information on case management consulting firm. studies, candidates should read:

Depending on which firm a candidate is applying to, two to three rounds of interviews will be held. The first interviews are with one or two members o Case in Point: Complete Case of the recruitment team. Recruitment teams are comprised of line staff Interview Preparation (2009), from varying levels that rotate on and off recruitment duty. One interview by Burgee Press – available in will usually be a "fit" interview and the other a "case" interview. hardcopy in OCS Resource The "fit" interview is generally a discussion about the candidate's Library background and experience. This part of the interview process offers the o The Harvard College Guide to applicant an opportunity to demonstrate important characteristics such as Case Questions, available leadership, innovation, and creativity through the stories and examples through the Office of Career that he or she decides to discuss. Services at Harvard College

(617) 495-2595 The "case" interview is highly structured. The applicant will be presented o Vault Guide to the Case with a business problem and asked to provide a strategy and possible Interviews series – available solution in 20-25 minutes. The interviewer is looking to see how the on OCS website applicant analyzes a problem and how he or she attempts to solve the o The Wharton MBA Case problem. The interviewer is not looking for technical expertise -- this is Interview Study Guide, truly an evaluation of the applicant’s thought process and ability to published by the Wharton analyze. Mock case interviews are strongly encouraged for Master’s MBA Consulting Club degree candidates.

The interviewee should be prepared to demonstrate quantitative skills and highlight leadership skills, all while being a team player. Communication and interpersonal skills are paramount. Is the interviewee engaging and enthusiastic? Does he or she have the poise and sophistication to impress and persuade a client? The interviewers will be asking themselves whether or not they would feel comfortable having you present in front of a client.

Sample Employers FUTURE CHALLENGES OF THE PROFESSION o APCO Worldwide- apcoworldwide.com o Athens Group – athensgroup.com + The management consulting o The Bridgespan Group – bridgespan.org industry’s challenges reflect the o Bain & Co. – bain.com challenges that are facing o Booz Allen & Hamilton – boozallen.com today’s leading . Both o – bcg.com big and small businesses are o Charles River Associates (CRA) – crai.com looking for new ways to increase o – deloitte.com profits and decrease costs. o ECG Consulting Group Inc. - ecgconsulting.com When a client company's budget o Ernst & Young – ey.com shrinks, the relative cost of a o Imnex International – imnexinternational.com management consultant rises; it o Intellilink – intellilink.com is therefore essential for a o J.P. Canon Associates – jpcanon.com successful firm or consultant to o LEK Consulting – lek.com add noticeable value to their o Management Institute (LMI) – lmi.org client’s operations and bottom o M Squared Consulting – msquared.com line. The consulting industry has o McCreight & Company, Inc. – implementstrategy.com continued to thrive over the o McKinsey & Co. – mckinsey.com past decade, regardless of the o – mercer.com cyclical nature of the economy. o Nathan Associates – nathaninc.com The growth of the industry will o Novantas, Inc. – novantas.com be driven not just by client o William Kent International – wkint.com demand, but also by the number of talented persons who decide to work in consulting. (Carland Resources for Additional Information & Farber).

Associations + As the market becomes o Association of Management Consulting Firms – amcf.org increasingly international, the o Public Relations Society of America – prsa.org ability to approach problems o International Council of Management Consulting Institutes (ICMCI) – from a global perspective will be icmci.org useful. Specialized skills such as foreign language fluency and Internet Resources technical knowledge are o Careers in Business – increasingly important. o careers-in-business.com/consulting/mc.htm Furthermore, it is essential to o – caseinterview.com build contacts by contacting o Consulting Case 101 – consultingcase101.com alumni from your school who o Management Consulting Prep – mconsultingprep.com are working with firms in which o McKinsey & Co. Interview Prep – you are interested in order to mckinsey.com/careers/join_us/interview_prep build your networking o PrepLounge – preplounge.com infrastructure. o Vault “Consulting” – vault.com o Wall Street “Career Journal” online – careerjournal.com

Publications o Case in Point, by Marc P. Cosentino o Case Interview Secrets: A Former McKinsey Interview Reveals How to Get Multiple Job Offers in Consulting, by Victor Cheng o Case Interviews For beginningers, by Stephen Pidgeon o Crack the Case System: How to Conquer Your Case Interviews, by David Ohrvall o Operating Ratios for Management Consulting Firms -- 2015 U.S. Edition, Association of Management Consulting Firms, New York, N.Y. (has salary information). o The Case Interview: 20 Days to Ace the Case: Your Day-by-Day Prep Course to Land a Job in Management Consulting, by Destin Whitehurst and Erin Robinson o The publishes a pamphlet on management consulting firms.

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