2012 sbc consulting underground guide 2

Underground Guide CONSULTING

SBC Consulting Underground Guide

2

Table of Contents

INTRODUCTION 3

WHAT IS CONSULTING 5

THE INTERVIEW 6

COMPANY PROFILES 17

ACCENTURE 18 BAIN & COMPANY 23 BOOZ ALLEN HAMILTON 34 BOSTON CONSULTING GROUP 42 MARS & COMPANY 48 MCKINSEY & COMPANY 52 MONITOR 62 ZS ASSOCIATES 66

ADDITIONAL RESOURCES 70


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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.


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SBC Consulting Focus Group (2011-2012)

Name Title E-mail Year

Larry Pang Managing

Director

[email protected] 2013

Pranav

Ramkrishnan

Managing

Director

[email protected] 2013

Nancy Chen [email protected] 2013

Valerie Chia [email protected] 2013

Richard Yoon [email protected] 2013

Ingwon Chae [email protected] 2014

Jennifer Kao [email protected] 2014

Anvisha Pai [email protected] 2014


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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


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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


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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.


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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.


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Market

analysis

Competition, market share and products

Current market size

Consumer needs

Company

capabilities

Sales and marketing

Operations

Current line of products

Decision Open new plant

Outsource operation

Acquire company

Use a structure to organize your thoughts and

guide you if you get lost:


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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 MIT’s 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.manager-

tools.com/2006/09/accomplishments-connecting-

resumes-and-interviews/

Listen to “Interviews – the Introduction” at:

http://www.manager-tools.com/2006/10/interviews-

the-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

• Don’t 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 firm’s 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?

1 Consentino, Marc. “Case in Point.”


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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

2 The SUMA Internship Book Guide to Summer Internship Recruiting 2007


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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 • Don’t just focus on impressing the higher-level people • Don’t 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

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


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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 Guide’s 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 I’ve 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. It’s 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 won’t pay for your summer housing.

2. First year interns and analysts don’t 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 didn’t

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 it’s an exciting one or not so

exciting, everyone keeps each other motivated about

performing at the highest level. People often stop by

each other’s offices and desks just to ask about how

one’s 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 that’s 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. Accenture’s 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

4 http://www.bain.com/bainweb/home.asp


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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 it’s silly. Working at Bain really made me see

how wrong these claims are and how critical we end up

being to a company’s 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 didn’t 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 team’s 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 it’s

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 other’s 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- they’ll pay for your continuing

education- whether it be your MBA, law degree, PhD,

or Masters, and you’ll 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

Bain’s 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 wasn’t

sure what that career would ultimately end up being.


stipends and bonuses?

$10,000 for ten weeks.


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.


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.


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.


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

5 http://www.boozallen.com/


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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.


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.


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 day-

to-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.


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.


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.


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.


41

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.


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.


42

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 change—for our clients, our

people, and society broadly.6

The Boston Consulting Group-Intern

6 http://www.bcg.com/about_bcg/mission/mission.html


43

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.


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.


44

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.


45

What made working for BCG a better/worse


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.


offers at BCG? How many interns were offered full-

time 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.


46

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


• Laidback; worked directly with higher-ups on team in casual environment (at client)

• Very social environment


47


• While my case was atypical, I worked 60-80 hours/week


• 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


applicable)?

• Better social environment (fun people, good times, lots of social people)

• Tough working hours • Occasionally menial work


offers at BCG? How many interns were offered

full-time positions?

• About 90% of the interns get offers, find out near end of summer


48

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

7 http://www.marsandco.com/index_en.html


49

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


50

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.


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.


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


51

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.


other firms? Our flexibility in project choices and work-hours.

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.


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.


52

McKinsey & Company

“We find and solve the most critical and challenging

problems. We take an overall, independent, and fact-

based view of a client’s 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

8 http://www.mckinsey.com/aboutus/whatwedo/


53

McKinsey & Company-Intern

What are the upsides of working for McKinsey?

I can’t speak for any other consulting firms because I

haven’t 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 well-

prepared you might think you are for the job, there’s

always a lot of room for improvement.


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


54

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 it’s

actually not too bad, and actually more convenient in

some ways. Also, while I can’t speak for other firms, there

seems to be a perception that McKinsey works its people

harder than other firms. I don’t 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 didn’t 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.


stipends and bonuses? $10k for 10 weeks plus travel

expenses and health insurance for the summer.


55

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.


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.


56

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


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 I’ve had. I was never

waiting on someone to finish a piece of work since I had

my own work stream.


offers at McKinsey? How many interns were offered

full-time positions? Summer BA’s are evaluated based

on pre-set performance criteria, not relative to each other.

For the summer, the rate of improvement is much more


57

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 don’t know the exact

numbers, but the majority of summers were given offers.


58

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 day-

to-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.


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


59

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.


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 8am-

7pm, 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


60

relax. Fridays are a bit more relaxed and the team is usually in their separate home offices working remotely.


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.


the other firms? McKinsey has a reputation unlike any


61

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.


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.


62

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 expertise—lots of it—we

don’t rely on that alone. We have deep expertise in the

different management disciplines required to unlock

superior growth. While we provide advisory services—on

the most critical issues impacting many of the world’s

most significant organizations—we 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


63

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.


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


64

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.


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 weren’t 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.


65

What kind of mentorship was provided? We had an

official mentor for the summer to help answer questions

that might come up that wouldn’t 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


applicable)?

The internship program was certainly more structure

than any I’d experienced before which allowed me to feel

more comfortable in the setting. Much more

responsibility was given to me than I’d seen before but

that also meant expectations were higher.


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.


66

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/


67

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


68

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

• ZS’s culture

• ZS’s growth as a firm


• 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


69

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


ADDITIONAL RESOURCES

1. Case in Point, Marc P. Consentino

2. Consentino videocast at MIT

http://web.mit.edu/career/www/graduate/podcasts.html

3. MIT’s Bilal Wahid’s folder of cases:

http://web.mit.edu/~bilalw/www/cases/

4. AT Kearney’s cases:

http://www.atkearney.com/shared_res/pdf/interview_casebook_

S.pdf

5. Vault Guide to companies.

2012 sbc consulting underground guide 2

Documents