Consulting Internship Overview and Panel Discussion

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Consulting Internship Overview and Panel
Discussion

• Presented by
• AMA the Consulting Club

November 29, 2005
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Consulting InternshipAgenda

• Recruiting Process
• Interview Preparation
• Panel Discussion

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Recruiting ProcessTimeline

• Submit application beginning in mid-December
• Résumé and cover letter
• Some firms do not require cover letter anymore,
  instead they want your geographic preference
• Check to see if your preferred office has an
  internship program
• Closed list released beginning mid-January
• Résumé plays a major factor in getting on closed
  list
• Interactions with on-campus representatives also
  important
• Talk to 2nd years who interned with consulting
  firms
• Bid for open list positions if youre not on the
  closed list
• Watch for open sign-up

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Recruiting ProcessInterviews

• First round interviews on campus
• Covers all offices
• Some firms have separate first round for Asian
  offices
• Usually 2 interviews 30-45 minutes each
• 2 cases with small portion of fit
• Second round interviews
• US offices hold interviews in respective offices
• Asian offices conduct interviews in centralized
  location by region
• 3-4 interviews with partners
• 2-3 cases with 1 fit interview

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Consulting InternshipAgenda

• Recruiting Process
• Interview Preparation
• Panel Discussion

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Interview PreparationTypes Of Interviews
Interview process is broken into a case and a fit
portion and to receive an offer you must succeed
at both interviews
Case
Fit
Offer
You do not have to nail very case
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Interview PreparationWhat Interviewers Look For
Interviewers look for problem solving skills,
common sense and the ability to communicate
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Interview PreparationApproach To Cases
Conclude
Analyze
Structure
Clarify

• Understand question

• Gather/analyze facts

• Develop recommendations

Goal

• Agree on major points of inquiry

Tips

• Listen carefully
• Ask questions
• Paraphrase to confirm

• Agree on priority issues
• Make estimations
• Public math
• Work together (ask questions, watch for hints)

• Remember the actual question
• Make a recommendation
• Synthesize your answers

• Describe your overall approach
• Do not dive into details straight away
• Keep it simple
• Be MECE

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Interview PreparationCase Preparation

• Form your practice teams
• Consulting Club and/or your own teams
• Some case books are better for reading, others
  are great for practice (Kellogg case book)
• Once youve been given a case, you should be able
  to give it as an interviewer
• Practice with second years and former
  consultants, once youre ready
• Leverage the Consulting Club
• AMA is planning a mock interview event with 2nd
  years in January
• Memorize basic statistics
• population, number of households, etc.
• Practice public math
• Read, read, read
• WSJ, business articles and journals
• The more you know, the more robust your
  recommendation is going to be

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Interview PreparationFit Interview
Fit interviews are an integral part of the
recruiting process so dont underestimate it

• First round interviews focus on cases
• Fit is a small portion, generally 5-15 minutes
• Second round interviews, on the other hand, test
  both cases and fit
• At least one fit interview
• Even during case interviews, your demeanor and
  questions give interviewers a way to test your
  fit with their firms
• Be prepared to talk about
• Your initiative accomplishments
• Difficult situations/learning experiences
• Why you want to be a consultant (work and
  lifestyle)
• Your long-term goals, consulting and otherwise
• Communication is key during interviews
  articulate, brevity, poise, confidence

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Interview PreparationKnow Your Stories

• Rehearse stories for each possible question
• Know your resume well and be ready to create
  stories from your resume
• Be prepared to talk to stories in detail
• Maintain enthusiasm levels throughout Fit Case

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Interview PreparationYour Mindset
Recruiting is similar to taking a fifth class, so
keeping a healthy mindset is important

• Healthy prospective
• Dealing with success and dings
• Controlling the controllables
• Do not obsess over particular firms
• Realistic expectations
• More positions for full-time than internship
• Stay calm and relaxed - youll find a great
  internship

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Consulting InternshipAgenda

• Recruiting Process
• Interview Preparation
• Panel Discussion

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Panel DiscussionTopics

• Summer internship experiences by office US
  Asia
• Clients, industries and functions
• Culture
• Work/life balance
• Development
• Recruiting process any difference
• Post-consulting career paths