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MC training MANAGEMENT CONSULTED 3 1 1/25/20 MC COVERS THE FULL - PDF document

Nov 21, 2022 •464 likes •760 views

1/25/20 CONSULTING PREPARATION BOOTCAMP WASHINGTON UNIVERSITY IN ST. LOUIS JANUARY 2020 PRESENTED BY JENNY RAE LE ROUX MANAGEMENT CONSULTED 1 AGENDA Networking for Consulting Consulting Fit Interview Case Interview Overview

  1. 1/25/20 CONSULTING PREPARATION BOOTCAMP WASHINGTON UNIVERSITY IN ST. LOUIS JANUARY 2020 PRESENTED BY JENNY RAE LE ROUX MANAGEMENT CONSULTED 1 AGENDA — Networking for Consulting — Consulting Fit Interview — Case Interview Overview MANAGEMENT CONSULTED 2 WHAT WE DO www.managementconsulted.com Self-study On-site training bootcamps materials 1:1 Free editing/ content MC training MANAGEMENT CONSULTED 3 1

  2. 1/25/20 MC COVERS THE FULL PROCESS Resumes & Networking Cover Letters JOB OFFERS! Fit Interview Prep On-the-Job Case Interview Prep Skills Training MANAGEMENT CONSULTED 4 CLIENTS RECEIVE OFFERS FROM: MANAGEMENT CONSULTED 5 CONSULTING OVERVIEW Get the real story from an insider. MANAGEMENT CONSULTED 6 2

  3. 1/25/20 WHAT IS CONSULTING? Providing research, analysis, and business advice Classified by project owner Average projects of 3-6 months Training for business leadership Accelerated career path MANAGEMENT CONSULTED 7 WHAT FIRMS’ PICTURES SAY YOU DO ALL DAY Make “impact” Write on on white clients Go to boards offsites and and windows Travel happy first hours class MANAGEMENT CONSULTED 8 WHAT YOU REALLY DO ALL DAY Plus…. Research Excel (10%) (60%) Recruiting Travel Sleep (sometimes) PowerPoint Meetings (20%) (10%) MANAGEMENT CONSULTED 9 3

  4. 1/25/20 IS CONSULTING RIGHT FOR YOU? Short, focused projects Heavy High impact teamwork work Work for Solve quant profit-driven problems orgs MANAGEMENT CONSULTED 10 ARE YOU RIGHT FOR CONSULTING? “My work results in “My work uses data and presents it to clear profit for the Results- Analytical others well.” client.” oriented “My work is Business Big-picture “My work supports grounded in current acumen oriented the client’s business affairs.” overall strategy.” MANAGEMENT CONSULTED 11 WHY PEOPLE GO INTO CONSULTING Professional • Heavy teamwork • No boss development • Extensive feedback • Excel/data analytics Skill building • PowerPoint • Executive presence Resume- • Small, tight-knit network maker • Highly credible brand MANAGEMENT CONSULTED 12 4

  5. 1/25/20 WHY CONSULTANTS LEAVE CONSULTING Better Better More Industry Send Off Pay Lifestyle Power Focus MANAGEMENT CONSULTED 13 NETWORKING The biggest asset of any consulting firm is its people. MANAGEMENT CONSULTED 14 QUESTION Raise your hand if you have more than 3 contacts in consulting. (I want to see if we should focus more on warm or cold networking today) MANAGEMENT CONSULTED 15 5

  6. 1/25/20 WHY NETWORK? 3 Key Reasons • Answer ”why the firm?” to the firm • Answer “why the firm?” for yourself • Get a referral Tailor your application • Name drop in cover letter • Have an advocate in the room MANAGEMENT CONSULTED 16 WHAT MATTERS TO CONSULTANTS? Education Experience Leadership • Pedigree • Brand Name • People • Quantitative • Analytical • Budgets Ability • Performance • Impact (GPA, Honors) • Business • "Professional" Understanding • Distinction MANAGEMENT CONSULTED 17 QUESTION Which of the three areas will you lead with? MANAGEMENT CONSULTED 18 6

  7. 1/25/20 KEYS TO NETWORK FOR CONSULTING 2 PARTS OF NETWORKING 1) Getting in the door 2) Conducting research MANAGEMENT CONSULTED 19 THE 5 RULES OF NETWORKING You need to be talking to… the right person at the right time at the right firm in the right location for the right position MANAGEMENT CONSULTED 20 WHO COUNTS WHEN NETWORKING? Pre-MBA Post-MBA Recruiting Manager Partner MANAGEMENT CONSULTED 21 7

  8. 1/25/20 WHEN TO CONTACT MANAGEMENT CONSULTED 22 FIRMS TO KNOW Top 3 Big 4 Boutique MANAGEMENT CONSULTED 23 OFFICE SELECTION Where you have Where been you want to live Where you have a right to work Place with strongest sponsor should go first on list MANAGEMENT CONSULTED 24 8

  9. 1/25/20 KNOW YOUR ROLE Pre-MBA Post-MBA Admin Manager Partner MANAGEMENT CONSULTED 25 3 STEPS OF NETWORKING Email Informational Request for interview referral MANAGEMENT CONSULTED 26 KILLER NETWORKING EMAIL Subject Name First line 3 fun facts Specific ask Closing MANAGEMENT CONSULTED 27 9

  10. 1/25/20 INFORMATIONAL INTERVIEW AGENDA 3-4 My Your questions background background about your experience MANAGEMENT CONSULTED 28 ELEVATOR PITCH MANAGEMENT CONSULTED 29 ELEVATOR PITCH BASICS When should you What does it entail? use it? 4 areas - personal roots, education, Tell me about yourself experience, and what’s next (but not in formal interview) Chronological “Just to give you a bit of background…” – to precede a question Selective history “Let me tell you where I’m coming from…” – to precede a request Infer - don’t be too aggressive Ideal length: 30 seconds MANAGEMENT CONSULTED 30 10

  11. 1/25/20 5 KEY TIPS FOR NETWORKING Use LinkedIn for Drive to an Have the resume research, email informational Set an agenda Follow through ready for interview communication MANAGEMENT CONSULTED 31 FIT INTERVIEWS 101 There are no right answers, but a lot of wrong ones. MANAGEMENT CONSULTED 32 QUESTION What fit interview question do you fear the most? MANAGEMENT CONSULTED 33 11

  12. 1/25/20 THE INTERVIEW PROCESS Network Fit Interview Case Interview OFFER! MANAGEMENT CONSULTED 34 3 THINGS ALL FIRMS ARE LOOKING FOR Is interviewee a • If you can’t communicate clearly in an interview, good you’ll never do it in front communicator? of a Fortune 500 CEO Is interviewee an • You not only put in the effective hard- hours, but work smart as well worker? Is interviewee a • Firm will only hire positive, generally someone they want to work with! likable person? MANAGEMENT CONSULTED 35 THE REALITY OF SCORING 1 st round… 2 nd round… Case Interview Fit Interview Case Interview Fit Interview MANAGEMENT CONSULTED 36 12

  13. 1/25/20 KEY FIT DIFFERENCES Focused fit interview (standard to industry) Total fit Interspersed interview fit interview (senior (common in experienced first rounds) hires) Deep-dive fit interview (e.g. McKinsey) MANAGEMENT CONSULTED 37 FIT CATEGORIES And you thought all fit questions were the same. MANAGEMENT CONSULTED 38 DIAGNOSING 3 KEY QUESTION TYPES Direct questions Story questions Curveball questions MANAGEMENT CONSULTED 39 13

  14. 1/25/20 THE 3 QUESTIONS YOU MUST PREPARE FOR The best hitters hit curveballs just as well as fastballs. MANAGEMENT CONSULTED 40 WALK ME THROUGH YOUR RESUME Introduces story to them Why it’s Establishes first important impression Demonstrates communication Highlight 3-5 experiences Include what happened, briefly why What to do Chronological order Don’t rush MANAGEMENT CONSULTED 41 WHY THE ROLE? Demonstrate understanding Why it’s Tell a story important Answer the question Terrible – It’s all about they are really asking me Lame – I have one simple reason What to do Good – I have 3 good reasons Great – Let me tell you a story MANAGEMENT CONSULTED 42 14

  15. 1/25/20 WHY THE FIRM? Demonstrate Terrible – It’s all insider status about me Lame – I have Give people one simple Why it’s focus reason What to do important Good – I have 3 Tell a story good reasons Answer the Great – Let me question they are tell you a story really asking MANAGEMENT CONSULTED 43 BREAK OUT: CRAFTING KEY FIT ANSWERS Walk me through your resume Co-evaluate – practice with a partner Why Why (X) firm? consulting? MANAGEMENT CONSULTED 44 HERO STORIES Everyone loves a superhero (especially interviewers). MANAGEMENT CONSULTED 45 15

  16. 1/25/20 CHARACTERISTICS OF GREAT HERO STORIES CAR Method Delivery • Context – project • Answers adapted scope, team size, to question, not your role, key vice versa problem • 30 seconds to 1 • Actions – specific minute steps you took to • Told with resolve the issue enthusiasm • Results – how you achieved a (positive) outcome MANAGEMENT CONSULTED 46 OTHER TYPES OF HERO STORIES Academic 15 unique stories Leadership Experience MANAGEMENT CONSULTED 47 BREAK OUT Write your list! MANAGEMENT CONSULTED 48 16

  17. 1/25/20 TRICKY STORY QUESTIONS You’ve gotten this far; now finish strong. MANAGEMENT CONSULTED 49 THE FORMULA FOR SUCCESS What are they asking? Look in Trust the eye Tell an honest story MANAGEMENT CONSULTED 50 KEY QUESTIONS Strengths Weaknesses Ultimate Question Dealing with the tough stuff MANAGEMENT CONSULTED 51 17

  18. 1/25/20 BREAK OUT: CRAFTING KEY FIT ANSWERS A time you Greatest demonstrated weakness or leadership on greatest a team failure Why we should hire you? Co-evaluate – practice with a partner MANAGEMENT CONSULTED 52 PRE-TEST Size the market for suitcases in Germany (2 min) MANAGEMENT CONSULTED 53 4 STEPS TO SOLVE ANY SIZING QUESTION Population % Who Frequency Weighted / Own of Purchase Avg. Price Households MANAGEMENT CONSULTED 54 18

  19. 1/25/20 NEED TO KNOW INFO U.S. Population Population of city living in Population of city interviewing for Population of 2 Countries/Continent MANAGEMENT CONSULTED 55 PRE-TEST Size the market for hearing aids in Singapore (2 min) MANAGEMENT CONSULTED 56 CASE INTERVIEWS It’s not about the answer – it’s about the process. MANAGEMENT CONSULTED 57 19

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