2012 SBC Consulting Underground Guide 2

Underground Guide
CONSULTING
SBC Consulting Underground Guide
Table of Contents
INTRODUCTION WHAT IS CONSULTING THE INTERVIEW COMPANY PROFILES ACCENTURE BAIN & COMPANY BOOZ ALLEN HAMILTON BOSTON CONSULTING GROUP MARS & COMPANY MCKINSEY & COMPANY MONITOR ZS ASSOCIATES ADDITIONAL RESOURCES 3 5 6 17 18 23 34 42 48 52 62 66 70
INTRODUCTION
MIT Sloan Business Club (SBC) Mission Statement:
SBC (Sloan Business Club) was founded on the belief that while MIT provides its students with an excellent academic and intellectual foundation, the successful business person requires opportunities and skills that cannot be bestowed in any classroom setting. Through our extensive selection of events, our organization works to provide our 2,100+ members with both an expansive business network and a solid mentorship base, enabling students to fully utilize their academic backgrounds in launching strong businesses.
SBC Consulting Focus Group Mission Statement:

The goal of SBC Consulting is to connect the MIT community with the consulting industry and to expand corporate recruiting efforts at MIT. We hope to answer questions about what consulting is, why the industry exists, and what skills will prepare you to succeed in the field. We want expose MIT's community of talented students, who are interested in exploring the industry, to professional opportunities in consulting. SBC Consulting's three main goals are to provide:

Knowledge of consulting through educational events and resources. Mentorship through SBC alumni connections Networking through corporate sponsored recruiting events.
SBC Consulting Focus Group (2011-2012)
Name
Larry Pang Pranav Ramkrishnan Nancy Chen Valerie Chia Richard Yoon Ingwon Chae Jennifer Kao Anvisha Pai
Title
Managing Director Managing Director
E-mail
lpang@mit.edu pranavr@mit.edu nzchen@mit.edu vchia@mit.edu ycyoon@mit.edu ichae@mit.edu jennkao@mit.edu anvishap@mit.edu
Year
2013 2013 2013 2013 2013 2014 2014 2014
WHAT IS CONSULTING
Consultants get paid to synthesize massive quantities of foreign data, toss out irrelevant information, structure an approach to a given client issue, and hypothesize logically and creatively before people of power and influence Case in Point, Consentino
Fields of Consulting:
Public Sector o Government Private Sector o Automotive and Assembly o Chemicals o Corporate Finance o Environment o Financial Services o Technology o Petroleum o Pharmaceuticals and Medical Products o Private Equity o Healthcare o Telecommunications o Marketing and Sales o Operations
THE INTERVIEW
A typical interview will last about 45 minutes. The breakdown will roughly follow the below format:
10 - 15 minutes
Open discussion Discuss prior experiences Behavioral questions
20 - 25 minutes
Case Interview
5 - 10 minutes
Q&A, your questions
Potential questions during the interview:

Is this person likeable amongst employees? Does this person seem a valuable resource in the workplace? Will this person make an impression on his/her clients? Is this person goal-oriented and methodical? Is this person focused on results? Can this person approach and solve problems in a logical and efficient manner?
Focus on three main points:

Before the interview: 1. Prepare for the case. 2. Prepare for behavioral answers. During/After the Interview: 3. Connect and be positive.
1. Prepare for the case.

Approach the case in five steps: 1. Introduction a. LISTEN. b. Take note of details. c. Confirm details. 2. Approach a. Take time (1 minute). b. Create structure for solving (brainstorm). c. Formulate 3-4 points. 3. Analytics a. Ask for data. b. Follow Structure. c. Quantify. d. Explain Impact. 4. Recommendation a. Tie back to start. b. List recommendations. c. Offer a 30-second summary. 5. Next Steps (optional) a. Propose implementation.
Use a structure to organize your thoughts and guide you if you get lost:
Current market size Competition, market share and products Consumer needs
Market analysis
Operations Sales and marketing Current line of products
Company capabilities
Outsource operation Open new plant Acquire company
Decision
2. Prepare for Behavioral Questions

Tell me about a time when you convinced someone/a group of something he/she/they did not want to do. Tell me about a time when you achieved a goal you had set for yourself. Tell me about a time when you had to persuade a group. Tell me about a time when you had to deal with a crisis/difficult situation. Why are you interested in consulting? Why not academia or industry? Why are you interested in this particular city? What sets you apart from other candidates? Have you ever failed? What do you think consulting means? What is 100 divided by 6?
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When answering behavioral questions, use the Headline + STAR method:
Headline: a sentence describing your

achievement. I managed the finances for MITs TECH Competition.
Situation or Task: background of your

achievement. Let me begin by giving you some background
Action: the overall approach and details.

Name the main ideas: - I realized I had to do three things to ensure a net profit. Explain each of them
Result:
Finish with a summary of the results of your efforts
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Additional Interview Resources

Learn more about the STAR method at: http://web.mit.edu/career/guide/www/star.html Listen to Connecting Resumes and Interviews at: http://www.managertools.com/2006/09/accomplishments-connectingresumes-and-interviews/ Listen to Interviews the Introduction at: http://www.manager-tools.com/2006/10/interviewsthe-introduction/ Consult the MIT Careers Office for mock interview
3. Connect and be positive.

Use the profiles of interviewers to find some way to connect with them
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During the interview:

Make the interview conversational o Account for the age and background of your interviewer Communicate your energy and enthusiasm SMILE Relax and be genuine Dont show signs of frustration or nervousness with the case or questions Have questions to ask at the end1: o How much contact will an entry-level consultant have with the firms clients? o What kind of positions do consultants fill when they leave the firm? o How much travel will be involved? o How independent will the work be for an entry-level consultant? o How big is the firm? o Is it possible to transfer to other offices? o How many consultants is the firm looking to hire this year?
Consentino, Marc. Case in Point. 13
Interview Tips:
Do: Build answer around key points Pick accomplishments in advance Have 2min and 4-5 min answers mapped out in response to common questions Focus on the specific things you did when describing anecdotes Emphasize how you can add value Accentuate what makes you stand out Make eye contact Speak clearly and firmly Do not: Relate events chronologically Give exhaustive explanations Ignore the time and pace Discuss personal failures Allow nervous habits
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Tips for obtaining job/internship:2

Start thinking about where you want to apply early. Go to different websites and research different companies that interest you Read about relevant current events and literature Get your foot in the door by attending information events, talking with alumni, and participating in an externship Keep updated on your e-mails Network: o Use your networking skills and any connections you have beyond MIT o Talk to as many people as possible o Work closely with MISTI and the MIT Career Office o Network with student groups you are involved with o Make contact with as many people in the firm as possible o Try every connection you have to secure an interview Be able to talk about things in college beyond academics Understand what the firm values and how the people think Have a solid understanding on concepts related to your industry Have interesting things to talk about and specific questions to ask about the company Maintain relationships created during the internship
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The SUMA Internship Book Guide to Summer Internship Recruiting 2007 15
Tips for succeeding in an internship:3

Be on time Be proactive If you find yourself unoccupied, ask for projects so that you can contribute Dont just focus on impressing the higher-level people Dont be afraid to reach out to senior members of the department Understand your role in the firm Pay attention to details Keep up to date on your job Be curious and attentive about what other people are doing Never complain Be able to read the people you are working with know when they are too busy to be bothered versus when would be a good time to ask them questions Ask questions Communicate with your team members and give them updates Focus on mastering concepts quickly and with little direction Be willing to stay late Do not leave until all of your projects are finished
The SUMA Internship Book Guide to Summer Internship Recruiting 2007. 16
Company Profiles
SBC believes one of the best ways to learn about a company is to hear directly from its employees. It is our hope that for MIT students, the experiences of other MIT student interns or recent alumni working at these companies can offer a perspective on the working environment and ethos of any given company. Please note that there are hundreds of consulting firms, from which only a select few are highlighted in this guide. These choices were made based upon a variety of factors including prestige, sponsorship, and relations with MIT. At the time of the Guides making, questionnaires were distributed to a group of current MIT interns and young MIT alumni/non-alumni working at consulting firms across the nation. Given the voluntary nature of responses, there may be a slight disparity in responses for any given company. The published questionnaires are not intended to suggest any biases by any means. Unfortunately, in some cases there were no interns or consultants able to contribute on behalf of their companies. If you would like to hear more about such companies, please consult your own networks or the company websites themselves. The MIT Careers Office also has many resources and alumni contacts.
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Accenture
Accenture is a global management consulting, technology services and outsourcing company. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments.
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Accenture-Intern
What are the upsides of working for Accenture? 1. Accenture hires based on personality, not case interviews. Everyone Ive met here has been incredibly fun, friendly, and helpful. 2. Even as an intern, you work directly with Managers and Senior Managers and have multiple opportunities to develop lasting relationships with them. 3. Accenture flies all of their interns to their training facility in St. Charles, IL for everyone to have to change to meet each other. They hold multiple leadership workshops during the day and organize fun events during the night. Its a great opportunity to network with tons of bright individuals all throughout the country. 4. Accenture has 180,000 employees in a majority of the countries all across the world, so plenty of opportunities to travel. What were the potential downsides of working for Accenture? 1. Accenture wont pay for your summer housing. 2. First year interns and analysts dont often get staffed on projects requiring travel.
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Why did you choose to work for Accenture? Because I had decided a week before applying for internships that I wanted to try consulting. So I didnt have an opportunity to study Case Interviews and Accenture was the only company to I applied to that held non-case interviews. What was your approximate pay (including all stipends and bonuses? Approximately $800 per week without overtime. Please discuss the working environment. The working environment is incredible. Everyone is fun and engaging and passionate about what they are doing. No matter what kind of project one becomes staffed on, whether its an exciting one or not so exciting, everyone keeps each other motivated about performing at the highest level. People often stop by each others offices and desks just to ask about how ones doing and really take the time to listen. Everyone I have run into has taken the time to answer any questions I have had. What kind of hours did you work? Personally, I was staffed at a project that required about 40 hours a week and there were a few weeks where I worked nearly 12 hours per day. But this
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differs based on the kind of project you are working on. One of the other interns worked nearly 50-60 hours a week as well. How much interaction did you get with clients? Again, it depends on different people and how well you have learned your project so that you can hold intelligent conversations with your client. I have dealt with a few people directly on the client side. Another intern I know had gotten to know his project thoroughly enough for his supervisors to ask him to lead a few meetings with the clients. What kind of mentorship was provided? Each intern is paired with an intern buddy, who is usually an analyst or a consultant, to guide them along the way and answer any questions. In addition, each intern has a senior executive as a supervisor to report to and ask any questions about the work, the career, and future opportunities. Finally, there is an HR representative thats available as well to enhance the internship process and help set goals and discuss potential career paths.
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What made working for Accenture a better/worse experience than your previous internships (if applicable)? Working for Accenture has been the best working experience at college. Prior to this internship, I was not ready to leave school because of how much I love the fun-loving yet hard-working people at MIT. After just about two weeks of working at Accenture, I was completely sold to the company. The kind of environment here is very similar to that of MIT. Everyone loves to learn, loves to help others learn, all while having a lot of fun. Accentures employees unofficial policy is to work hard, play hard! And as a result, all projects have social budgets and there are tons of social events throughout the year to bring everyone together and develop. What is the procedure and timeline for full-time offers at Accenture? How many interns were offered full-time positions? About 90% of the interns receive full time offers. The offers are not mailed until mid-September.
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Bain & Company

Bain & Company is a global business consulting firm with offices in all major cities. We help management make the big decisions: on strategy, operations, mergers & acquisitions, technology and organization. Bain was founded in 1973 on the principle that consultants must measure their success in terms of their clients' financial results. Companies that outperform the market like to work with us; we are as passionate about their results as they are.4
http://www.bain.com/bainweb/home.asp 23
Bain & Company-Intern

What are the upsides of working for Bain & Co.? I think that the job has been both rewarding and extremely enjoyable. Even just as an intern, we are doing the same type of work that first year Associate Consultants do (and our business cards even call us Associate Consultants!). You sometimes hear people outside of the industry describe consulting as a useless career, that no results really come out of consultants, and that its silly. Working at Bain really made me see how wrong these claims are and how critical we end up being to a companys success, and how they really do impact companies. Even within the compensation structure, Bain consultants are rewarded based on how their clients perform- which is one of the things that does set Bain apart. So it definitely is really rewarding in that sense. The culture is another huge upside. I didnt realize coming in how different cultures are within the consulting industry. At Bain, work/life balance is extremely important, and engrained in the culture is the idea that when people are happy with their jobs and are enjoying themselves, it results in both better
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value of work and a more sustainable company overall. A couple of examples- monthly open bar events for the entire office after work, a budget for every case team to use for fun events (for one of my teams events, we rented a limo to go to a concert at the Tweeter center), and an all-expenses paid golf trip (including lunch, lessons, and rentals!). Bain has a lot of fun, and its amazing how well they can balance this with delivering amazing value to their clients. The employees here get along extremely well, and it is great to see how friendly everyone is with each other- they inevitably end up frequently enjoying each others company outside of work. Finally, there are a ton of opportunities. Bain is really big on professional development, and helping people find the right career path for them. If that means going off to work in industry or in private equity, then Bain helps you get the job both from the experience you earn here and the support that is provided. If you like the career enough that you want to stay, however, there are some added perks- theyll pay for your continuing education- whether it be your MBA, law degree, PhD, or Masters, and youll be guaranteed a job at Bain when you come back. They constantly have us taking surveys and measuring our happiness with our case as well as management team. Managers are evaluated based on
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how happy their team is with the case, and they work hard to keep people quite satisfied with both their lifestyle and their professional development. There are countless other upsides to consider as well. What were the potential downsides of working for Bain & Co.? While I find that the work Bain does is extremely rewarding, valuable, and challenging, I do believe that the culture might not be for everyone. While part of Bains formula is to keep their employees happy and having fun, some people need work/life to be separate. In that case, some of the other firms might have a more fitting culture. Why did you choose to work for Bain and Co.? I was choosing between a job at an investment bank versus a job at Bain. Having worked at a bank before, I realized it really was not what I enjoyed doing. I had heard about the opportunities and the lifestyle at Bain and was extremely excited about the possibility of working there. I really enjoy the operating as well as creative side of companies, rather than strictly the financial side. And working for a big strategy
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consulting company like Bain really enables you to see a huge company at the highest level and develop strategies that will impact almost every aspect and branch of it. I thought it sounded exciting, and that it would be a great place to start a career- even if I wasnt sure what that career would ultimately end up being. What was your approximate pay (including all stipends and bonuses? $10,000 for ten weeks. Please discuss the working environment. Interestingly enough, I covered a lot of the working environment in the upsides. One thing that stands out about Bain in terms of the working environment is that it requires far less travel out of its consultants than the other companies. Anyone staffed on a private equity case (about 25% of the office) will not travel at all. The rest will travel depending on what the case is, but never further than something like Boston to New York, and usually about 2-3 days in a week. This is because of the staffing strategy that Bain uses, which chooses a team based on its location to the client. While there is a great deal of client interaction, having a home base has
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a great amount of perks, and is one of the reasons people here tend to be very close-knit. What kind of hours did you work? During the internship, it was about 9:30-6. As a regular employee this varies more. If you are between cases, sometimes you get whole days off. They are also extremely flexible about letting you work at home, so many people will leave at 6 to eat dinner and might continue working after that. How much interaction did you get with clients? The client interaction varies and while I did not interact frequently with the clients, I did have the chance to present my data to the Vice President of Sales at a multi-billion dollar company- and just as an intern. The longer you are on a case, and the more ownership you can take of your work, the more likely you are to have more constant interaction with clients.
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Bain & Company-Consultant
What are/were the upsides of working for Bain & Co.? A great positive working atmosphere with a continuous learning curve, intelligent colleagues, exposure to many industries and experiences, and a great work/life balance. Why did you choose to work for Bain & Co.? I chose to work for Bain because I felt that I would be offered a strong combination of learning and professional experience, quality of life, and "resume value". There is a strong emphasis here on continuous learning that pervades everything from the staffing model to the office culture. Similarly, there is a strong emphasis on work/life balance and general satisfaction with the experience. Additionally, Bain was a strong name that would ensure that I had many opportunities regardless of where I chose to pursue my career. Please discuss the working environment. The work environment is very relaxed and friendly. You sit in a "bay" of ~10-20 associate consultants or consultants, such that you can easily ask questions or just chat in down-time. There is also a strong emphasis on
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fun work events, ranging in scale from mentorship events with mentors, bay events, team events, or entire office events such that you get to know your colleagues. Additionally, there is no "face time", so that your work schedule and environment is very flexible. What kind of mentorship is/was provided? Mentorship is provided across many avenues. Everyone is assigned both a "colleague" and a "mentor". The colleague is typically one year ahead of you, and able to show you the ropes and answer any questions that you may have. Your mentor is typically a level or two above, and a valuable resource when it comes to discussing your career, as well as development within your role. There is also a significant amount of informal mentorship. You sit in a bay surrounded by colleagues that are able and willing to answer questions and give advice as needed. Furthermore, your work is structured in teams, so within your cases there are people you can reach out to with questions and concerns. In my time thus far I've found that everyone has been very friendly and focused on my development. Within the two weeks that I've been on my first case, my manager has sat down with me twice to check in and make sure that I was getting the most out of my experience.
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What are the keys to getting hired by Bain & Co.? I think that the key to getting hired is to have performed well in school, and have a strong set of extracurricular activities that you can intelligently speak to. Additionally, it's important to be able to do well in your case interview, particularly in terms of thinking in a logical, organized, and results-driven manner - and communicating that intelligently to the interviewer. Finally, it's important to understand and fit into the Bain culture, which is fun, yet focused and results-oriented. What do you think sets your company apart from the other firms? I think that Bain's positive work environment and work/life balance sets it apart. Having had other experiences where many of my colleagues often complained at dissatisfaction with their jobs, I'm still happily surprised by the fact that everyone here genuinely enjoys his/her job and has a positive attitude. What makes/made you proud of working for Bain & Co.? What are some of your notable contributions? It's great to work for a top-tier, rigorous company and enjoy it.
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What skills have you developed while working at Bain & Co.? What are you better at now? Since I've been at Bain, I've been able to develop my managerial, communication and organization skills substantially. In a fast-paced environment, it's important to take ownership of your work and be able to effectively communicate results and questions or concerns at any step in the process. Achieving this requires a high level of organization and clear communication channels. I've also developed some of my research and analytical skills as I've worked through searching for specific information and working with data. Brief Statement from the Recruiting Division: Bain was founded in 1973 on the principle that consultants must measure their success in terms of their clients' financial results. Companies that outperform the market like to work with us; we are as passionate about their results as they are. While other firms offer advice, we're in the results business. We work with companies to find innovative ways to generate substantial, lasting financial impact. Our people are our strongest asset. Bain is comprised of talented individuals with diverse backgrounds and interests who are passionate about achieving results in all
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areas of life. This is what enables us to make a real difference for our clients. And because we measure our success by our clients' results, we worry less about the academic insight, and concentrate passionately on lasting, long-term client impact.
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Booz Allen Hamilton

Booz Allen Hamilton has been at the forefront of strategy and technology consulting for more than 90 years. Providing a broad range of services in strategy, operations, organization and change, information technology, systems engineering, and program management, Booz Allen is committed to delivering results that endure. Headquartered in McLean, Virginia, Booz Allen has 20,000 employees and generates annual revenue of approximately $4 billion.5
http://www.boozallen.com/ 34
Booz Allen Hamilton-Consultant

What are/were the upsides of working for Booz Allen Hamilton? BAH has a unique set of clients, in comparison to other consulting firms. Consulting military, intelligence, and government agency clients is a normal occurrence, and I've found that to be a rewarding experience. As these clients are typically located in specific areas in the US, travel time is limited, which allows me to spend more time in service to the client, rather than flying around the country. What are/were the potential downsides working for Booz Allen Hamilton? Booz Allen client engagements are typically longer than those worked by other consulting firms. Contracts can last many years, and time-in-service to a specific contract is valued. This can have its plusses and negatives. It is relatively easy to amass experience in a given realm, but lengthy client engagements can get boring, in comparison to quick in-and-out engagements with other firms. Why did you choose to work for Booz Allen Hamilton? Booz Allen's service to government clients is unique among the consulting firms. I was drawn towards serving these clients, rather than businesses.
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Please discuss the working environment. There are two typical contracts at Booz Allen. Contracts either place the consultant on client site for an extended period of time, or allow them to work from Booz Allen spaces where the consultant's time is split between serving the client and Booz Allen. Working on client site allows greater integration with the client and other consulting firms, while working in Booz Allen spaces facilitates cooperation among Booz Allen consultants. In either case, expect to work closely with other professionals in your field. What kind of hours do/did you work? How many days of the week on the client site? Typically 40 hours, 5 days per week, all spent on client site. Time spent within BAH spaces is typically in addition to the billable 40 spent on client site, though this is very limited. This can vary by contract and team, but 40-50 is pretty normal. How much interaction do/did you get with clients? Near 100% of my time is spent with the client. What kind of mentorship is/was provided? A new employee can expect a manager to provide guidance and insight, as well as facilitating finding work. In addition, Booz Allen provides mentoring circles, which are typically informal gatherings where new employees can choose a
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mentor to aid them with career decisions or questions about the company. What are the keys to getting hired by Booz Allen Hamilton? Know what the firm does. This may sound silly, but Booz Allen does very different work from the typical consulting firms. Browse the available jobs listed on the Booz Allen website. Don't be disconcerted by the fact that most of the positions listed are for more experienced candidates. These positions are still listed because those experienced candidates are hard to find. There are entry level positions always available, and they are rarely listed on the website. Taking a look at these positions, though, will give you an idea of the type of clients and work that will be available to you. Find some that interest you, and be ready to talk about them in your interview. What do you think sets your company apart from the other firms? The clients that we serve and work available to us. Booz Allen has a foot in the private/corporate sector, as well as the government sector. Our experience in these fields allows us to leverage insight from both government and management consultants on military, intelligence, government, NGO, and other quasi-government organizations. What makes/made you proud of working for Booz
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Allen Hamilton? What are some of your notable contributions? I'm proud knowing that the work that we perform can not only be measured in dollars and profit, but also provides immeasurable support to our country's security and the well-being of its citizens. Booz Allen Hamilton-Consultant What are/were the upsides of working for Booz Allen Hamilton? Booz Allen employs fast-paced, motivated, dynamic people who are also social-minded and enjoyable. The office is a very collaborative team environment, and even new consultants can get a say in what types of projects they focus on. Booz Allen places a high emphasis on networking, so it is easy to reach out across the company to gain mentorship or to find a spot on a new contract. Because Booz Allen works primarily on US government contracts, many consultants are required to obtain security clearances, which make them very marketable candidates. What are/were the potential downsides working for Booz Allen Hamilton? Because Booz Allen works primarily on US government contracts, there are a number of very strict regulations that consultants must follow, specifically with regards to accurate time reporting and relationships with US government clients and employees.
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Why did you choose to work for Booz Allen Hamilton? I was impressed by Booz Allen during the recruiting process. The people who interviewed me were all young, yet very professional and accomplished. I knew that working alongside such motivated individuals would jumpstart my career. Please discuss the working environment. The dayto-day working environment can differ a lot depending on the composition of your team, but in general the culture manages to be both professional and fun. Booz Allen consultants produce serious work that has real impact, and it stresses both collaboration, which any MIT graduate can appreciate. The headquarters is a large campus in McLean, VA, but there are a number of smaller offices scattered throughout the DC metro area and the rest of the US. What kind of hours do/did you work? How many days of the week on the client site? Approximately half of Booz Allen consultants work full time at the client site. Even those who are based at a Booz Allen office will still make periodic visits to the client site, but the frequency of the visits depends on the contract. Booz Allen requires a standard 40 hour work week of most starting consultants (although this can vary depending on your job description). Depending on your supervisor
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and/or client, there may be opportunity for some flexible work hours as long as you are present during core business time. How much interaction do/did you get with clients? This really depends on the needs of the contract and the preferences of the client. Of course the consultants who work full time at the client site will get more interaction than those who are work full time at a Booz Allen office. What kind of mentorship is/was provided? Some Booz Allen teams offer formal mentor-mentee matching programs. Even if you aren't lucky enough to be on one of those teams, Booz Allen keeps a website updated where you can search for potential mentors by relevant criteria. What are the keys to getting hired by Booz Allen Hamilton? Not only must you be academically capable, but you must have a professional look and possess excellent communication skills. You must demonstrate during the interview that you can express your ideas logically and explain technical concepts clearly. What do you think sets your company apart from the other firms? Booz Allen stresses a work-life balance, which allows its consultants to remain inspired, enthusiastic, and excited about their projects day-to-day.
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What makes/made you proud of working for Booz Allen Hamilton? What are some of your notable contributions? Booz Allen produces results that endure, by addressing important issues such as US security, defense, and intelligence. I am proud to contribute to solutions and recommendations that have been considered and implemented by US government decision-makers. What skills have you developed while working at Booz Allen Hamilton? What are you better at now? Obviously I had strong technical skills coming out of MIT, but at Booz Allen I have had the opportunity to develop more qualitative, strategy-based critical thinking. My communication abilities have improved as result of building and giving presentations, participating in meetings, and working in team environments.
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The Boston Consulting Group (BCG)

The Boston Consulting Group is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. BCG is a private company with 66 offices in 38 countries. We seek to be agents of changefor our clients, our people, and society broadly.6
The Boston Consulting Group-Intern

6
http://www.bcg.com/about_bcg/mission/mission.html 42
What are the upsides of working for BCG? BCG was a great place to work. What separates it from a number of other consulting firms is the personal interest that senior members at the firm take in your development. Also, it is a small firm so you develop strong relationships with senior partners and principals. What were the potential downsides of working for BCG? None, unless you are not interested in consulting. Why did you choose to work for BCG? I wanted a broad introduction to business and the healthcare industry, so I applied to a healthcare focused office at BCG. What was your approximate pay (including all stipends and bonuses? $12,500 Please discuss the working environment. The working environment is very positive. BCG puts a strong emphasis on work-life balance. Partners and principals are very understanding and are not interested in burning you out. Additionally, if you have no meetings you can definitely work from home.
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What kind of hours did you work? I typically worked about 60 hrs/week. There were one or two weeks where that jumped to about 80, but otherwise it was pretty manageable. How much interaction did you get with clients? My summer may not be completely representative of client interaction. I worked for a large non-profit and was able to present my findings directly to the CEO. Additionally, I worked for a large healthcare company and presented my findings directly to the global head of marketing. If you prove yourself early on, you will get more and more responsibility. What kind of mentorship was provided? BCG has an extensive feedback system both formal and informal. Twice during the summer I was given a formal review. However, many times after a client meeting or after I built a model I would get feedback on how I was doing in a very informal way. When you walk into a formal review meeting there are typically no surprises, you always know how you are doing. Additionally, I was struggling with the decision of coming back to BCG or getting a PhD. I had very candid conversations with senior partners which have been instrumental in my decision.
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What made working for BCG a better/worse experience than your previous internships (if applicable)? Its great to be around a group of people that are equally as intelligent as you are. BCG recruits only the best of the best, and you learn a tremendous amount from the people around you. I did an internship in investment banking and I found that to be very cold and impersonal. The BCG office in LA was really like a big family. What is the procedure and timeline for full-time offers at BCG? How many interns were offered fulltime positions? In terms of offers, I cant speak for the entire program but 3/5 interns in the LA office were given offers at the end of the summer. Refer to the BCG website for more details.
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The Boston Consulting Group-Intern What are the upsides of working for BCG? Very analytical mindset approach business problems using scientific method Consistently rated #1 best small company to work for (#11 overall) Focus on personal development via staffing Excellent matriculation to top business schools Great benefits for full-time employees Pyramid model puts great deal of responsibility on associates (entry-level undergrad position) What were potential downsides of working for BCG? Potentially long work-hours (depending on case) Work can be boring (lots of slide preparation, data analysis, etc.) Very different experience based on case Why did you choose to work for BCG? Most prestigious offer received What was your approximate pay? $1250/week + expenses Please discuss the working environment. Laidback; worked directly with higher-ups on team in casual environment (at client) Very social environment
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What kind of hours did you work? While my case was atypical, I worked 60-80 hours/week How much interaction did you get with clients? Met with President of client company, gave personal 30 minute presentation Constantly worked directly with client teams What kind of mentorship was provided? Was allowed to make own mistakes, grew from experience Coached in how to interact with client Coached in appropriate slide creation, analysis What made working for BCG a better/worse experience than your previous internships (if applicable)? Better social environment (fun people, good times, lots of social people) Tough working hours Occasionally menial work What is the procedure and timeline for full-time offers at BCG? How many interns were offered full-time positions? About 90% of the interns get offers, find out near end of summer
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Mars & Company

From a delivered product standpoint, Mars & Co's "birthright" is its unique ability to help clients clearly delineate the contours of their battlefields as well as the dynamic positioning of their competitors. By ripping apart the economics and modus operandi of the industry, Mars & Co's teams help their clients' staff dissect the enemy's forces as well as the market discontinuities in a very specific fashion. As a result, Mars & Co's clients formulate their strategies in a much more precise and knowledgeable way.7
http://www.marsandco.com/index_en.html 48
Mars & Company-Consultant

What are/were the upsides of working in consulting? Consulting has two main advantages over other financial jobs: variety and flexibility. Variety comes with the fact that you may work on multiple different projects in one year. These projects are likely in different industries and will give you exposure to all sides of business. Flexibility comes with not only what work out do, but in how your workday is structured. Consulting firms typically allow you to give suggestions about what kind of project you want to work on. Also, consulting gives you the option to travel around the world or to no travel at all. Finally, unlike many other firms in finance, face-time is not as important, but rather getting the job done that you are assigned. What are the potential downsides working in consulting? If you like to specialize in one field or subject, consulting may not be for you. Consulting are for those that like to solve a variety of problems. Why did you choose to work for Mars & Company? I live in New York City and I love it. I opted for a firm that would not require me to live out of my suitcase in hotel rooms in random cities for most of the week. While I
49
have opportunities at Mars to travel to client site, I enjoy working at a firm where I can make the choice about my work-lifestyle. Please discuss the working environment. For each assignment, we are placed in teams of 4 to 6 people to solve a problem that a company is having. For 3 to 6 months, we work together and with the client to solve the different parts of the problem. Over the time period in which we work for the client, we may give several presentations to the VPs or even the CEO. What kind of hours do/did you work? How many days of the week on the client site? I usually work from 9am to 7pm, and no work on weekends. With may last study, I traveled to the client site on average one-day per week. How much interaction do/did you get with clients? Since most of our consulting projects are tailored to clients, we constantly need to work with the client and get feedback about how to make the project better. What kind of mentorship is/was provided? Everyone on the team learned from someone else before them. Consulting is all about this constant learning process, where those with experience work with the new members of the team. The teams are usually structured with a
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team lead at the top (someone with 10 or more years of experience). Then two or three mid-level people (3-6 years of experience), then 2-3 lower level people. Everyone has the chance to learn from each other. What are the keys to getting hired by Mars & Company? You must demonstrate your desire to work on a variety of problems and a desire to learn. These are the two keys to consulting. What do you think sets your company apart from other firms? Our flexibility in project choices and workhours. What makes/made you proud of working for Mars & Company? What are some of your notable contributions? I had an idea of how a major beverage producer could improve in store sales. I submitted a solution to the VP we worked for, and they said that they had never thought of solving the problem in that way. It made me feel I was actually making an impact. What skills have you developed while working at Mars & Company? What are you better at now? I've learned how to take many pieces of the business puzzle (interviews, numbers, figures, etc) and construct them into a solution that can help people.
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McKinsey & Company

We find and solve the most critical and challenging problems. We take an overall, independent, and factbased view of a clients performance. We rely on facts because they provide clarity and align people. Facts are the global management language. We work with facts to provide credible recommendations. We work directly with leaders who can partner with us to develop and accept recommendations and have the ability to implement them.8
http://www.mckinsey.com/aboutus/whatwedo/ 52
McKinsey & Company-Intern

What are the upsides of working for McKinsey? I cant speak for any other consulting firms because I havent worked there, but I feel that McKinsey allows for good client exposure and the directors have good reach within client organizations. For instance, although atypical, I had the opportunity to sit next to the client every day during my case this past summer and got to know the client very well, both personally and professionally. Additionally, because of the reach the directors had, my team was able to step outside the bounds of our scope of the project and give additional suggestions because we felt it was the right thing to do for the future of the company that had hired us. As far as personal development goes, the amount I learned this past summer was incredible. Not only did I learn a lot just from doing the work related to the study, but my communication, presentation, and analytical skills improved dramatically as well. No matter how wellprepared you might think you are for the job, theres always a lot of room for improvement. What were the potential downsides of working for McKinsey? McKinsey believes in travelling to the client site in order to conduct interviews and have effective interaction with the client. While this has the benefit of
53
giving you better client exposure, some people may not enjoy being away from home so often (3 nights a week in the most common scenario). I was actually dreading having to travel when I started the summer, but its actually not too bad, and actually more convenient in some ways. Also, while I cant speak for other firms, there seems to be a perception that McKinsey works its people harder than other firms. I dont know if this is true, but the hours you work largely depend on your team, the type of study, and the client. Why did you choose to work for McKinsey? I believed working for McKinsey would provide me the best opportunity to prepare for what I want to do in the future, being an entrepreneur and managing companies. I had tried other types of jobs, and I knew I didnt want to be looking at business from a technical or financial perspective, and I felt that this would be the best opportunity to get some experience with the strategy and decision making side of running a business. Additionally, when I was trying to make a decision, I appreciated the fact that no one trash-talked another company and no one tried to pressure me to make a decision. What was your approximate pay (including all stipends and bonuses? $10k for 10 weeks plus travel expenses and health insurance for the summer.
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Please discuss the working environment. We worked in a massive team room at the client site. This study was a large project and involved about 25 people from McKinsey and 20-plus people from another firm. Our large team was broken into sub-teams where we handled separate workstreams. My team was generally sociable and we would joke around with each other when things were slow. We also had many team events and dinners, so I got to know my team well outside of the team room. What kind of hours did you work? I generally worked 60-70 hours a week. A couple weeks were a little worse because it was a crunch time, and ended up working about 18-20hrs/day for a few days. Easily the worst day was waking up at 5am on a Monday to get to the airport, but working until 2am in the hotel that night. In general, we tried to leave for the client at 8am and would head back to the hotel at 8pm, finishing any work we had from there. Fridays were very relaxed and laid-back, and I generally did not work on the weekends. How much interaction did you get with clients? Aside from what I said above, getting constant interaction with the client as I would sit right next to them, I had the chance to present to clients and conduct client interviews regularly. I felt this was great client exposure.
55
What kind of mentorship was provided? I was assigned a buddy for the summer who helped me through some problems, but there were also many other people to turn to for help. An associate on my team constantly helped me out by giving me tips and trying to set me up for success. I reached out to some MIT alums and other people I knew within McKinsey if I had some questions as well. Everyone was very willing to help me out with a problem or answer my questions. What made working for McKinsey a better/worse experience than your previous internships (if applicable)? The biggest factor that made a difference in my mind is the fact that this was the first job I had where I was still truly learning something more than a week or two into the job. I was also never bored, while I had been frequently with every other job Ive had. I was never waiting on someone to finish a piece of work since I had my own work stream. What is the procedure and timeline for full-time offers at McKinsey? How many interns were offered full-time positions? Summer BAs are evaluated based on pre-set performance criteria, not relative to each other. For the summer, the rate of improvement is much more
56
important than how well you perform when you come in or when you leave. At the end of your summer you are told if you will be receiving an offer. You then receive all the information and have until something like late December to make a decision. I dont know the exact numbers, but the majority of summers were given offers.
57
McKinsey & Company-Consultant What are/were the upsides of working for McKinsey? The opportunities offered to early tenure McKinsey consultants are truly unparalleled - both while with the firm, and beyond. The trust and responsibility given to even a first year analyst or associate makes working for McKinsey a very unique experience. In a little over a year with the firm, I have attended training programs in 4 cities all around the world, developed dayto-day working relationships advising senior executives on some of their most important challenges, taught classes of managers new techniques for managing performance and motivating their employees, and presented my work to the CEO of a major internet company. What are/were the potential downsides working for McKinsey? For some, the constant travel can get tiring, and the prospect of being away from home every week is not appealing. Why did you choose to work for McKinsey? McKinsey is full of top talent, a breeding-ground for future corporate leaders. Learning and development are a key focus for every consultant. Good exposure to a wide arrray of industries and functions, difficult problems, and lot of opportunity to attend leadership training. Also an
58
extremely strong alumni network. Please discuss the working environment. We typically work on teams of 3-5 with a day-to-day project manager, and senior McKinsey leaders helping move the project forward each week. We typically work in a team room (usually a designated client conference room). Each consultant is responsible for his or her own stream of work, which typically is one piece of the overall problem the team is trying to solve. The team works together with guidance from the more experienced McKinsey leaders on each piece of the problem to develop a solution or set of recommendations to give to the client. Often, clients will assign several of their own employees to work on the team side by side with the consultants. What kind of hours do/did you work? How many days of the week on the client site? I fly to my client site on Monday morning and return early Thursday evening. While at the client site, I typically work 8am7pm, with an hour for lunch. If everyone is from out of town, the team will usually also grab dinner together before going back to the hotel. I typically spend a little time after dinner preparing for the next day's meetings. More intense weeks may involve post-dinner work in the hotel, while less intense weeks may lend themselves to 'team fun' events, or just an early night to
59
relax. Fridays are a bit more relaxed and the team is usually in their separate home offices working remotely. How much interaction do/did you get with clients? It strongly depends on the nature of the study, but we typically spend no less than 3 hours per week working side-by-side with clients. What kind of mentorship is/was provided? Every consultant has a development leader, who is usually a partner or associate partner and is responsible for your progress and semi-annual reviews. This person serves as both an internal firm mentor, and may also be a career mentor. In addition to this person, there is plenty of opportunity to meet and work with other more experienced consultants who are eager to help young consultants discover their strengths and improve their weaknesses. Constructive feedback plays a vital role in day-to-day work at the Firm. What are the keys to getting hired by McKinsey? Strong problem solving skills, strong people skills, business intuition, an ability to process, synthesize, and explain very complex ideas in a simple and structured way. What do you think sets your company apart from the other firms? McKinsey has a reputation unlike any
60
other firm. It is widely considered the guru of management consulting and is the go-to firm for solving major companies' most pressing issues. What makes/made you proud of working for McKinsey? What are some of your notable contributions? McKinsey is an extremely entrepreneurial culture that allows consultants a lot of freedom to learn about and pursue topics of interest and to find ways to apply them to client situations. I have spent time working on developing a new service line to create simulations for clients to help them model their operations, which has led to several engagements. Through my client work, I have also become one of the firm's most experienced experts in health insurance operations and frequently help partners pursue new client engagements and advise teams on live engagements. What skills have you developed while working at McKinsey ? What are you better at now? Verbal communication in a variety of forums - conducting training, conducting meetings, interviews, and formal presentation of findings. Simplifying complex analysis into simple messages and stories that persuade action.
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Monitor
Sustainable growth requires addressing multiple barriers to growth which in turn require multiple management disciplines. We deploy teams with extraordinary breadth and depth of expertise to match the complexity of the challenges they are intended to solve. While we have industry expertiselots of itwe dont rely on that alone. We have deep expertise in the different management disciplines required to unlock superior growth. While we provide advisory serviceson the most critical issues impacting many of the worlds most significant organizationswe are not just a consulting firm. We help our clients build their own capabilities for lasting results, and we offer capital services that complement our strategic advisory work.9
Monitor-Intern
9
http://www.monitor.com/AboutUs/WhatWeDo/WhyMonitor/tabid/172/Default.aspx 62
What are the upsides of working for Monitor? Monitor is an excellent place to work overall. Beyond just being one of the premier names in management consulting, they are a much smaller company (~1500) than most of the other general management consulting firms. This allows there to be a much more entrepreneurial environment and also enables a meritocracy to truly permeate the firm. Also, Monitor works on the 50/50 model, so all consultants are on two cases at any given time. This allows you to see twice as many cases as your peers at other management consulting firms. What were the potential downsides of working for Monitor? While Monitor is probably one of the top 4 names in consulting, it lacks the brand of a place like McKinsey. Also, since the firm is smaller than others, you really need to fit into the culture because you will be seeing/working with the same people more frequently than you might otherwise. Also, placement into industry (goes back to the branding) is probably less than at comparable firms. Why did you choose to work for Monitor? It was my best offer for the summer, at the end of the day. However, I was very impressed during the recruiting process by
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how approachable yet professional everyone at the firm was. Again, the firm is an excellent name as well and so even if I ended up hating consulting I knew that would boost my credentials heading into full-time recruiting. What was your approximate pay (including all stipends and bonuses? $12K. Please discuss the working environment. We worked in a massive team room at the client site. This study was a large project and involved about 25 people from McKinsey and 20-plus people from another firm. Our large team was broken into sub-teams where we handled separate workstreams. My team was generally sociable and we would joke around with each other when things were slow. We also had many team events and dinners, so I got to know my team well outside of the team room. What kind of hours did you work? Personally my hours for the summer werent bad, probably 50-60 a week and few weekends. A full time consultant, however, probably ranges between 60-80 a week. How much interaction did you get with clients? I was at the client at least once a week for the first half of the summer, and once my new case came through I was on the phone with them 3 to 4 times a week.
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What kind of mentorship was provided? We had an official mentor for the summer to help answer questions that might come up that wouldnt be appropriate to ask your case team, but there were also many young consultants willing to be unofficial mentors as well. What made working for Monitor a better/worse experience than your previous internships (if applicable)? The internship program was certainly more structure than any Id experienced before which allowed me to feel more comfortable in the setting. Much more responsibility was given to me than Id seen before but that also meant expectations were higher. What is the procedure and timeline for full-time offers at Monitor? How many interns were offered full-time positions? We receive full time offers at the end of the summer, on one of the last days. We have not received offers for our class yet, but usually 90 or 95% receive offers.
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ZS Associates
Incentive compensation greatly affects the motivation and morale of a sales force. The ZS approach to compensation plan design and associated goal setting follows a systematic process that couples experiential knowledge with analytical rigor. Quantitative assessments, benchmarking, and pilot studies are part of the process employed to make sure that the new compensation plan meets client goals.10
10
http://www.zsassociates.com/ 66
ZS Associates-Consultant
What are/were the upsides of working for ZS Associates?
Levels are Associate (Undergrad/MS), Associate Consultant (promotion or PhD hire), Consultant (promotion or MBA hire), Manager, Associate Principal, and Principal Promotions are based on merit, and not by tenure Strong focus on professional development - we immerse new associates on project teams and expect them to contribute from day 1. Additionally, we have a very collegial and academic atmosphere in which associates (and more senior office members) hold training sessions and brown bags for the office Working at ZS also helps you develop strong qualitative and quantitative problem solving skills, as all of our work usually involves synthesizing qualitative input from our clients (and often times the customers to whom our clients target) and results from data analysis We employ an intelligent travel model. We do not send associates to work on-site, rather we visit clients as a team for key project meetings only. In the latest issue of "Consulting Magazine", we were ranked fourth in terms of fewest avg travel days (0.8 per week) in a survey of over 200 consulting firms
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What are/were the potential downsides working for ZS Associates?

We are not a general management consultancy. We focus on solving problems primarily in the sales and marketing space. Additionally, most of our clients are from the pharmaceutical and biotech industries. Therefore, if you are looking for a more generalized consultancy firm that works with a uniform distrubition of clients across multiple industries, we may not be the best fit.
Why did you choose to work for Mars & Company? Strong focus on quantitative analysis to back
recommendations to client
ZSs culture ZSs growth as a firm Please discuss the working environment.
Informal, friendly, quality-focused, social
What kind of mentorship is/was provided?

We have a mentor program for all new associates as well as a professional development program. There are also Tracks that are organized based on
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position
What are the keys to getting hired by Mars & Company?

You must demonstrate your desire to work on a variety of problems and a desire to learn. These are the two keys to consulting.
What do you think sets your company apart from the other firms?
Our focus on sales and marketing, and our presence within the healthcare industry Culture Approach to travel
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ADDITIONAL RESOURCES
1. Case in Point, Marc P. Consentino 2. Consentino videocast at MIT http://web.mit.edu/career/www/graduate/podcasts.html 3. MITs Bilal Wahids folder of cases: http://web.mit.edu/~bilalw/www/cases/ 4. AT Kearneys cases: http://www.atkearney.com/shared_res/pdf/interview_casebook_ S.pdf 5. Vault Guide to companies.

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Underground Guide

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SBC Consulting Focus Group Mission Statement:

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SBC Consulting Focus Group (2011-2012)

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Open discussion Discuss prior experiences Behavioral questions

Q&A, your questions

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Potential questions during the interview:

Focus on three main points:

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1. Prepare for the case.

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Operations Sales and marketing Current line of products

Outsource operation Open new plant Acquire company

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2. Prepare for Behavioral Questions

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When answering behavioral questions, use the Headline + STAR method:

Headline: a sentence describing your

Situation or Task: background of your

Action: the overall approach and details.

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Additional Interview Resources

3. Connect and be positive.

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During the interview:

Consentino, Marc. Case in Point. 13

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Tips for obtaining job/internship:2

The SUMA Internship Book Guide to Summer Internship Recruiting 2007 15

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Tips for succeeding in an internship:3

The SUMA Internship Book Guide to Summer Internship Recruiting 2007. 16

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Bain & Company

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Bain & Company-Intern

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Bain & Company-Consultant

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Booz Allen Hamilton

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Booz Allen Hamilton-Consultant

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