What could be more different? Painted every 10 years, 500 houses get painted in any given year. Consulting firms want employees with a senior management potential. Did you really like going to class and doing your homework? They see all hires as either future partners or future clients. But we encourage you to not be overly picky in your search. In the initial analysis, ask a number of questions that will influence your decision. These boutiques have as few as two or three employees and as many as 150 or so and offer highly specialized expertise, for example consulting to the telecom industries, or providing expertise in marketing. How many of us have tried to explain a solution to someone else and stumbled on words, stuttered, threw in a few too many ums, or had to retrace our steps after losing our place? It is nighttime, and whoever is crossing the bridge must carry a flashlight.
The moral of the story is to think carefully about your past experiences and reframe them as if they were consulting projects; you will be pleasantly surprised and recruiters will be impressed. Firms seek people who boast long lists of accomplishments that demonstrate reliability, tenacity, commitment, motivation, and high standards of excellence. What would you tell them? For information about permission to reproduce selections from this book, contact Vault Inc. Perhaps 8,000 of those are white. If you do a great job, chances are your client will thank you, but you may never hear about it again.
Writing the cover letter Firms vary on the importance of the cover letter. Build a spreadsheet or list of target companies with all of this information so you can keep track of the process. Another companion for consulting interviews should be a leather or high-quality vinyl portfolio that holds a single letter-sized notepad. Otherwise, the candidate will interview at the nearest regional office or in a hotel. Add another 10 percent or so for second houses and houses used for other purposes besides residential.
Keep in mind that there are many steps to take in order to get to the interview process. We are also extremely grateful to Vault's entire staff of writers, editors and interns for all their help in the editorial and production processes. The team might recommend acquisitions or divestments, shifts in emphasis on reinvestment in the business, or a methodology for achieving higher shareholder returns. Consulting firms structure their teams very carefully. Your interviewer might allude to certain avenues to discuss or shut down others. Make sure you give your interviewer the right answers to these questions.
They feel compelled to ask three-layered questions about revenue streams and utilization rates to show recruiters just how much they prepared for the first interview. But in the land of business, the right answer requires taking an underutilized asset and turning it around for profit maximization. And in many cases, clients also understand where the problems lie. Clients can now hire one firm, not several, to formulate overall strategy, review operational efficiency, and implement technology solutions. Specialization Until recently, the conventional wisdom at firms like McKinsey was to develop generalists who applied their learning across industries and geographies. Instead, he or she is asked to resign.
Arrive at the interview prepared and appropriately dressed. What should he consider in his decision making process? We all do these things; in the interview context, they reflect insecurity. They are central figures in the life of a. Unlike strategic consultants, who tend to hand off their findings and leave, operations consultants generally assist in assuring implementation of their suggestions. Vault Consulting Employer Profiles — For detailed 50-page insider reports on individual firms, get Vault's employer profiles. Consultants must fulfill client expectations. Turn another bulb on and go into the room.
During economic downturns, consulting firms frequently attract distressed clients who need advice to cope with their economic situation. The hot one was on recently. Multiply by 10,000, and you have 80 million gallons. Try working from 8 a. The horror stories about interviewees asking their interviewer for a pen exist for a reason. Before setting off on the consulting route too enthusiastically, get a sense of how you might like it.
If so, what functional areas do they represent? If you like using standard frameworks, remember to use the appropriate one. Additionally, I am exposed to so much confidential information at my client sites that I am often faced with very difficult ethical choices. You might just change your mind along the way. Sending it in More firms these days request that candidates apply by e-mail. Firm 2 understood, and told him that if he could indeed get the location to work out, Rick would be always welcome to join Firm 2 if it had a job for him. State why the firm stands in a good position to accomplish your goals and how the firm can benefit from your contributions.
Vault Career Guide to Consulting The Interview Guesstimates In guesstimates, your interviewer generally asks you to estimate the market size for a product or service and observes your reasoning process. Your firm may not be mentioned, but at least you will be able to see the results of your hard work become a reality. Our experts will write a first draft, and deliver a final draft after feedback and discussion. One reason corporations like having internal consulting groups is cost savings. The interviewee should have quick, thorough answers to these questions ready. How to ensure that you are as eloquent as possible in the interview? However, if you can differentiate yourself on your resume — highlighting technical skills, foreign languages, publications, awards, notable public appearances — it will be to your advantage.
Corporations historically have better job security, less travel, and shorter hours in exchange for less pay and, often, crushing bureaucracy. Again, think about what is particularly important to you, and ask away. A round manhole cover can be rolled on its edge and will not cut anyone. If you enjoy recognition and completion, you will want to consider the type of consulting firm you join. There are some standard components to cover letters in consulting.