Queen s Consulting Guide

Transcription

1 Consulting Guide 2012

2 Contents PREFACE... 4 INTRODUCTION TO CONSULTING... 5 What is QCA?... 5 What is Consulting?... 6 THE INDUSTRY... 6 THE FIRMS... 7 Accenture (145 King Street West, Toronto)... 8 A.T. Kearney (20 Queen St. W, Toronto)... 9 Bain & Company (2 Bloor Street East, 29th Floor, Toronto) Boston Consulting Group (181 Bay Street, Toronto) Deloitte Consulting (30 Wellington Street West, Toronto) Hugessen Consulting (200 Bay St., Toronto, ON) McKinsey & Company (110 Charles Street West, Toronto) Monitor Group (100 Simcoe Street, Toronto) Oliver Wyman (161 Bay Street, Toronto) Secor Consulting (390 Bay Street, Suite 2400, Toronto) Resumes and Cover Letter Tips Networking Preparing for Case Interviews Information Sessions (2012) Info Sessions - Tentative Schedule Application Timelines Interviews First Round Interviews Second Round Job Offers Contingency Plans International Recruiting PREPARATION What to Study

3 How to Study Basic Types of Problems Exhibits: Graphs, Charts, and other miscellaneous information Mental Math Behavioural/Fit Creative Questions Follow up Questions (questions for the interviewer, what to say, what to avoid) INDUSTRIES & NEWS Automotive Consumer Products Energy and Natural Resources Financial Services Health Care & Pharmaceuticals Media & Entertainment Process Industries (materials) Public Sector Information Technology Telecommunications Transportation Travel & Tourism RESOURCES QCA Key Events (tentative Schedule) BCC Events Published Guides Recommended Websites School Guides Firm Website Tools Commerce Society Consulting Opportunities Academic Consulting Opportunities Alumni Stories

4 PREFACE Welcome to this year s edition of the Queen s Consulting Association s Guide Book. This document is a key offering that QCA provides for its members. The inaugural edition of the QCA Guide Book was composed for the 2011 recruiting cycle with the aim to fill an obvious void in the arsenal of consulting resources available to Queen s students. While other business schools offer a school-specific case prep booklet of sorts for their students, Queen s students were lacking such an item. However, the executive decided to take a slightly different approach and instead of publishing a collection of cases and potential interview questions, a broader-level guide book was written. The purpose of this guide book and the value it brings is therefore different from the traditional case booklet. We realized that there is no shortage of resources when it comes to mock cases, market sizing scenarios, and behavioural questions. Instead of reproducing something that already exists, our guide is intended to help candidates maximize their utility of such resources. The executive hopes that the QCA Guide Book will essentially serve as the seminal read for any Queen s student interesting in working in consulting before the recruiting process begins, and then to serve as a walkthrough throughout the preparation and recruiting periods. To achieve such an aim, the guide book comprises advice and information tailored specifically to the recruiting process at Queen s. Hence, extensive portions of the Guide Book were written with information collected via interviewing key industry professionals. Consultants at the Toronto offices were contacted to write firm profiles. Key human resources individuals and heads of recruiting were interviewed to attain a granular understanding of the actual processes conducted during Queen s OCR. Alumni at all the firms, from post-undergrads to post-mbas, were asked to share their recruiting stories and career experiences to date. Throughout last year s recruiting season, we received a lot of feedback on the Guide Book, both positive and constructive, and we ve updated this year s edition accordingly. We ve added a new firm profile by Hugessen and the remaining firm and industry profiles have been updated. Following the executive team s internship experiences in the industry over the summer, key takeaways were incorporated into the prose. Finally, alumni were re-contacted to either update or contribute new alumni stories. At the end of the day, this book has essentially done the majority of the research and networking involved with the recruiting process for you. We sincerely hope you enjoy the read, Zeya Yang and Advait Bopardikar, Co-Chairs Yifan Zhou and Jaril Valenciano, Guide Coordinators 4

5 INTRODUCTION TO CONSULTING What is QCA? The Queen s Consulting Association promotes the consulting career path for students in every year of study within the Queen s School of Business. Our mandates are to raise awareness of the consulting profession, develop consulting education at QSB, and to prepare our students so they are the best candidates through every step of the industry s challenging case interview process. QCA Pillars Awareness Development Preparation Action Plan Action Plan Action Plan Assuming the position of internal QSB consulting communication lead Committing to acquiring QCA membership Promoting ComSoc consulting opportunities Creating easier ways for firms to recruit at Queen s Networking with recent consulting graduates Fostering Queen s talent Working closely with the BCC and alumni Hosting case interview preparation session Creating a Queen s consulting guide with tips, firm overviews, industry primers, general structures and alumni stories Deliverables Deliverables Deliverables QCA Kickoff and launch during career launch and ComSoc fair Two QCA Consulting Panels: September and March Partnering with firms to host coffee chats QCA promotion of info sessions and firms QCA website and umbrella branding (Comm 504, APSC 400 TEAM, Comm 132, Q3C, Creo, QNP) QCA Case Interview Preparation Sessions running Sept 9 Oct 14 QCA Consulting Guide Partnering with firms to host case prep workshops Co-Chairs Advait Bopardikar (abopardikar2@gmail.com) Zeya Yang (zeya.yang@queensu.ca) QCA Executive: Alessia Vettese, Marketing & Membership Coordinator Andrew Witzke, Case Preparation Coordinator Betty Lu, QSB Consulting Network Coordinator Danielle Amirault, QSB Consulting Network Coordinator Jacob Trenholm, Alumni & Industry Coordinator Jaril Valenciano, Queen s Consulting Guide Coordinator Jason Liu, Case Preparation Coordinator Josh Levitan, External Faculties Specialist Talon Lloyd, Alumni & Industry Coordinator Yifan Zhou, Queen s Consulting Guide Coordinator 5

6 What is Consulting? The Vault Career Guide to Consulting provides the following definition of consultants: Consultants offer skill in assessing and solving business problems, and are hired by companies who need their expertise, fresh outside perspective, and/or extra set of hands. Some management consulting firms specialize in giving advice on general business strategy questions, while others are known as technology, marketing, finance, operations or human resources specialists. Some concentrate on a specific industry area, like financial services or retail, and still others are more like gigantic one-stop shops with divisions that dispense advice on everything from top-level strategy, to choosing customer account management software, to saving money on paper clips. During normal business processes, problems often arise that companies do not have the resources or sufficient time to answer. At this time the organization will outsource that problem to a consulting firm. The job of the consultant is to analyze the data provided by the organization and deliver an analysis of the situation along with a recommended course of action to the client. Consulting is a field which requires both analytical and interpersonal skills in order to succeed. Consultants can be thought of as doctors for business. Just as a doctor would identify the disease causing your runny nose or dry throat, consultants look at the symptoms of a company, such as lack of sales or decreased market share, and attempt to find the cause. Consultants then recommend a cure, or course of action, which may alleviate the symptoms and bring a company back to a healthy state. Like doctors, consultants are valued members in the business community because of their expertise and influence. THE INDUSTRY Hours Travel Consulting Finance Accounting Marketing regular, 80+ when busy Up to 4 days a week when on a travel case regular, up to 120 in investment banking when busy A lot when pitching and on road shows 40 regular, 60+ when busy (end of fiscal year/income tax season) Variable on client site involved regular, during important projects Variable Culture Collegial Hierarchical Social; systematic Team focused Compensation $45,000 base, $50,000 base, (Ballpark) $3,000 bonus Variable bonus Career Opportunities $65,000 75,000 base, $10,000 bonus Management level in industry, Private Equity ibanking: $70,000 85,000 base, $50,000 bonus Corporate Finance and Industry, Asset Management, Private Equity Industry, Entrepreneurship, Finance Industry, Consulting, Entrepreneurship 6

7 THE FIRMS There are three main types of consulting firms: 1. Large Diversified firms 2. Medium sized management consulting firms 3. Boutique firms (niche areas of expertise) There are also organizations with internal strategy teams: Loblaws, Target, Sears, Loyalty One etc. There are also consulting arms of broader organizations, namely professional services firms such as the Big 4: Deloitte Consulting, E&Y Advisory, KPMG Management Consulting, PwC Consulting The following pages offer a general overview of some of the global consulting firms that recruit at Queen s: Accenture AT Kearney Bain & Company Boston Consulting Group Deloitte Consulting Hugessen McKinsey & Company Monitor Group Oliver Wyman Secor 7

8 Accenture (145 King Street West, Toronto) Size: Large 200 offices in 53 countries 249,000 employees worldwide 120 employees in Toronto office Canada Office Locations: Calgary, Edmonton, Mississauga, Montreal, Niagara Region, Ottawa, Toronto West, Toronto, Vancouver Description: Hires for Management Consulting Development Program (Business Analyst) Points of Difference: Leaders in technology services and outsourcing One of the largest global consulting firms Industries: communications and high tech, banking, capital markets, insurance, health and public service, products, air freight and travel, automotive, infrastructure and transportation, retail, resources, media and entertainment, chemicals, energy, natural resources, utilities Services: business performance management, customer relationship management, finance and performance management, process and innovation performance, risk management, strategy, supply chain management, sustainability, talent and organization performance Compensation: 1 st year out of Undergrad for 2013 in Canada Base Performance Salary: $ 68,000 Signing Bonus: $10,000 Performance Bonus: up to $5,000 What to expect for the interview? First Rounds 2 standard case based and behavioural interview Second Rounds 30min behavioural phone interview Third Rounds Three interviews in the Toronto office including one case and two behavioural interviews with more senior consultants. Tips: See Accenture s website to get a better idea of their industries, case studies, research and numerous publications. Plus make sure to attend Accenture s networking events they take notice. 8

9 A.T. Kearney (20 Queen St. W, Toronto) Size: Medium 57 offices in 39 countries 3,000 employees worldwide 50 employees in the Toronto office Canada Office Locations: Calgary, Toronto Description: Hires for Strategy Consulting (Business Analyst) Points of Difference: Leaders in operations consulting (Toyota way) Supply chain specialists Large focus on client success & implementation Industries: aerospace and defense, automotive, communications and high tech, consumer products and retail, energy and process industries, financial institutions, pharmaceutical and healthcare, public sector, transportation and utilities Services: capital projects management, complexity management, cost management, innovation, manufacturing, marketing and sales, mergers and acquisitions, organization transformation, procurement, strategic IT, strategy, supply chain management, and sustainability Compensation: 1 st year out of Undergrad for 2012 in US Base Performance Salary: $65-70,000 (will not increase until approx. 1.5 years of starting full time) Signing Bonus: $5,000 Relocation Assistance: up to $3-10,000 depending on distance between school residence and office Performance Bonus: up to $9,750 (15% of base salary) Profit sharing: up to $6,500 Retirement Contribution: 10% of base + 5.7% of bonus What to expect for the interview? First Rounds standard case based and behavioural interview Second Rounds three 45min case interviews with more senior partners. Expect to be able to discuss recent news headlines. Tips: See AT Kearney s website to get a better idea of their industries, case studies, research and numerous publications. Additionally touch up on your market sizing skills. 9

10 Bain & Company (2 Bloor Street East, 29th Floor, Toronto) Size: Medium 48 offices in 31 countries 5,000 employees worldwide 80 employees in the Toronto office Only Canadian office located in Toronto Description: Hires for Strategy Management Consulting Points of Difference: Bain is the youngest of the MBB, founded in 1973 by seven former partners of BCG. Despite that, Bain has been named Best Firm to Work For by Consulting Magazine for ten consecutive years. 1 Bain also maintains a monthly Bain Insights newsletter publication. Bain Capital Private Equity was founded by former Partners of Bain & Company, but the firms bear no affiliation aside from that. #1 Best Firm to Work For by Vault 2 #1 Best Places to Work by Glassdoor 3 Bain encourages continued learning for its employees through various diverse experience opportunities. These include international transfers (to another Bain office for a certain amount of time), externships (to an industry organization for 6 months) and private equity rotations (to gain experience in all aspects of the private equity practice). The Toronto office works very closely with the Chicago office, so consultants in the Toronto office can get exposure to US clients. Industries: airlines and transportation, consumer products, financial services, healthcare, industrial goods and services, media, metals and mining, oil and gas, private equity, retail, social and public sectors, technology, telecommunications, and utilities and alternative energy. Services: performance improvement, organization, information technology, corporate renewal, private equity, customer strategy and marketing, mergers and acquisitions, and results delivery. Compensation: 1 st year out of Undergrad for 2013 in Canada Base Performance Salary: $66,500 Signing Bonus: $5,000 Relocation Assistance: $4,700 Performance Bonus: up to $6,000 RRSP Contribution: 10% of compensation

11 What to expect for the interview? First rounds two minute case interviews Second rounds two to four minute case/experience interviews with managers and partners Bain cases will feature a special analytics portion that will focus on numbers. Tips: See Bain s website for some of their own practices cases. Specifically practice valuation and M&A type cases with financial focus. 11

12 Boston Consulting Group (181 Bay Street, Toronto) Size: Medium More than 74 offices in 40 countries 4,500 employees worldwide, 150 employees in Toronto Canada Office Locations: Montreal, Toronto Description: Hires for Business Analyst in Strategy Consulting for BCOMM grads Points of Difference: #3 Best Firm to Work For by Vault 4 Ranked 2 nd best company to work for by Fortune Large emphasis on ideas, creativity and strategy Industries: automotive, biopharmaceuticals, consumer products, energy and environment, engineered products and project businesses, financial institutions, health care payers and providers, insurance, media and entertainment, medical devices and technology, metals and mining, private equity, process industries, public sector, retail, technology and software, telecommunications, transportation travel and tourism Services: corporate development, corporate finance, globalization, growth, information technology, innovation, management in a two-speed economy, marketing and sales, operations, organization, postmerger integration, strategy, sustainability, transformation, turnaround Compensation: 1 st year out of Undergrad for 2012 in US Base Performance Salary: $72,000 Signing Bonus: $5,000 Performance Bonus: up to $16,200 (22.5% of base salary) Profit sharing: up to $4,400 (Expected to be 5% of sum of base salary and performance bonus) Retirement Contribution: 15% of base + bonus What to expect for the interview? First Rounds two standard case based and behavioural interview plus a questions for BCG interview Second Rounds two additional 45min case interviews with more senior partners. Expect to be able to discuss recent news headlines Tips: BCG offers practice case studies on their website. Touch up on your mental math and market sizing; BCG loves numbers, handouts and graphs

13 Deloitte Consulting (30 Wellington Street West, Toronto) Size: Largest Global Consultancy Offices in 160 countries 15,000 employees worldwide 440 consultants in the Toronto office Points of Difference: Management consulting, enterprise transformation Focused on differentiating in three areas strategy, human capital and technology #5 Best Firms to Work For Consulting Magazine 2011 #1 Bloomberg BusinessWeek s Best Places to Launch a Career, (2007, 2009) #1 Supply Chain Management (SCM) Consultancy based on 2009 revenue in Kennedy s Supply Chain Management Consulting Marketplace Report #8 Top 50 Companies for Diversity 5 Industries: aerospace and defense, automotive, banking and securities, consumer products, federal government, health care providers, insurance, life sciences, media and entertainment, oil and gas, power and utilities, private equity, hedge funds and mutual funds, process and industrial products, real estate, retail and distribution, state government, technology, telecom, tourism, hospitality and leisure Services: management consulting, operational consulting, strategy consulting, human capital consulting, human resources consulting, systems integration consulting, technology implementation consulting, technology strategy consulting Compensation: 1 st year out of Undergrad for 2013 in Canada Base Performance Salary: $56,000 + $42/hour during overtime Signing Bonus: $2,000 Performance Bonus: no formal bonus What to expect for the interview? First Rounds 1 hour case and behavioural interview in person or over the phone Second Rounds Two 30 minute behavioural interviews at the Toronto office with Senior Partners. Tips: Understand the company and why Deloitte. Work on creating concise answers to a number of behavioural questions. Kent Kirch, Head of Recruitment at Deloitte, divides interviewing into four buckets; the four P's of interviewing: 1. Preparation 2. Practice 3. Personal presentation 4. Pertinent questions

14 Hugessen Consulting (200 Bay St., Toronto, ON) Size: Boutique Offices in Toronto and Calgary (30 Employees) Description: Hires for Executive Compensation Consulting Hugessen Consulting is a leading advisor to the boards of directors of major public and private companies, providing independent consulting services on executive compensation, performance measurement, corporate governance, and related regulatory and shareholder issues. Hugessen designs programs that ensure each client's value-creation strategy will be reliably executed by its management team. We do this through a combination of performance measures and incentives developed with careful attention to the client's competitive, financial, strategic, governance, shareholder, regulatory, and media contexts. Points of Difference: Leading independent consulting firm in executive compensation advisory in Canada Board-side consultancy Work is focused more on performance, compensation and regulatory issues rather than pure strategy Fast growing consultancy with an expanding international footprint Industries: Financial Services, Oil and Gas, Metals and Mining, Telecommunications, Sports and Entertainment, Consumer Goods, Retail, Private Equity, Asset Management and Pension Funds, Energy and Utilities, Chemicals, Aerospace and Defense, Real Estate, Transportation, Pharmaceuticals, Crown Corporations Type of Work: Analysts work in project teams and are exposed to a wide variety of industries and projects, including financial and performance analysis, industry research and comparator set development, proxy analysis, incentive design, and pay and policy benchmarking. Compensation: Competitive with major management consulting firms What to expect for the interview? First rounds Candidates are interviewed by two Associates (30-minutes each, back-to-back). Expect compensation related case questions as well as behavioural questions. Second rounds 3-4 back-to-back interviews with Associates, Principals, and Partners at the Toronto office. There is usually only one case during the final round, and more emphasis is put on fit with the firm. This is typically followed by a group dinner with candidates and firm consultants. Tips: Business sense, quantitative aptitude, and communication skills are essential traits Visit Hugessen s website for articles and White Papers that will help you better understand the type of work and issues that the firm deals with. 14

15 McKinsey & Company (110 Charles Street West, Toronto) Size: Large 99 offices in 45 countries 17,000 employees Worldwide (9,000 consultants) 250 employees in Toronto office (170 consultants) Canada Office Locations: Calgary, Toronto, Montreal Description: Hires for Management Consulting Points of Difference: #2 Best Firm to Work For by Vault 6 McKinsey has produced more CEO s than any other company with 70 CEO s of Fortune 500 companies. McKinsey operates under an up-or-out policy, meaning that consultants are expected to move up within the organization within a reasonable amount of time (typically 2-3 years) or work in industry. McKinsey is employed by a significant number of governments, and was involved in advising insurers and the government after the hurricane Katrina disaster. Primary Industry Services Offered: Advanced Electronics, Aerospace and Defense, Automotive and Assembly, Chemicals, Consumer Packaged Goods, Electric Power and Natural Gas, Financial Services, Healthcare Systems and Services, High Tech, Infrastructure, Media and Entertainment, Metals and Mining, Oil and Gas, Pharmaceuticals and Medical Products, Private Equity and Principal Investors, Public Sector, Pulp and Paper/Forest Products, Retail, Social Sector, Telecommunications, Travel, Transport and Logistics Compensation: 1 st year out of Undergrad for 2013 in Canada Base Performance Salary: $75,000 Signing Bonus: $5,000 Performance Bonus: Up to 30% Retirement & relocation: 12% of total annual compensation What to expect for the interview? All interviews are one-on-one, comprised of a mix of behavioural, fit, and a live case First Rounds two interviews with senior associates or engagement managers on campus Second Rounds four one hour interviews with senior engagement managers/partners. One of these will likely be videoconferencing with a partner that is not from the Toronto office. In the 2010 season, only three rounds of interviews were conducted because of the volume of candidates. Tips:

16 Keep up to date on the publications released by McKinsey; McKinsey Quarterly, What Matters & read McKinsey Mind McKinsey has a mandatory Problem Solving Test (PST) for math computation, data interpretation and logical thinking Know the MECE model Mutually exclusive, collectively exhaustive 16

17 Monitor Group (100 Simcoe Street, Toronto) Size: Small 26 offices in 16 major cities worldwide 1500 employees worldwide 48 employees in Toronto office Only Canadian office is Toronto Description: Hires for Strategy Consulting Points of Difference: Michel Porter is one of the founding members (Porters 5 forces, value chain etc.) 85% of Monitor s revenues are repeat clients Industries: pharmaceuticals, public sector, industrials, telecom, media etc. Services: strategy, marketing, pricing, innovation, product development, organization, leadership, economic competitiveness. At Monitor you will take part in advisory projects, capability building programs and financial advisory services. Compensation: Base Performance Salary: $67,000 Signing bonus: $5,000 Performance Bonus: Up to 12% of base salary What to expect for the interview? First Rounds two case and behavioural interviews, and one fit interview. Case interviews include a brief written case with exhibits. You will be asked to answer three questions: 1. Quantitative (Revenue, Profit, Market Sizing), 2. Make a recommendation, 3. Qualitative question. Second Rounds Expect a full day of case and fit interviews. You will do around two case interviews, 3 5 role play and fit interviews with more senior partners, and a group interview will all the applicants where you will be asked to focus on one particular aspect of the case and present your recommendation. Monitor is different than other top consulting firms in that their cases are not administered orally. Monitor cases are entirely written (similar to an HBS or Richard Ivey case). The case includes three questions that the candidate must answer for the interviewer. The candidate is given 30 minutes to read the case in private and is given a calculator to use. The questions asked generally fall into three categories. One question will be financial in orientation. It could involve determining which of the potential investments highlighted has the greatest ROI, or what is the expected EBITDA for a business segment a corporation is considering launching. Information required to answer this question will be scattered throughout the case, including in the exhibits and sometimes even in footnotes. The candidate is expected to be able to put the pieces together. 17

18 The second question is typically strategic in nature. The candidate can leverage concepts like Porter s Five Forces in their response, but this is not an explicit expectation. More than anything the interviewer is trying to determine the depth of the candidates strategic thought. Do they make insights that are valuable or are they misguided and illogical. The final question is generally sales and marketing focused. A company could be selling a consumer product and the candidate could be asked what marketing mediums they would think would be most successful in generating optimal sales for the product Tips: Practice doing cases under a time limit. Be able to provide a perspective on an industry. 18

19 Oliver Wyman (161 Bay Street, Toronto) Size: Medium 58 offices worldwide in 25 countries 3,000 employees worldwide 55 people working in the Toronto Office Locations in Toronto and Montreal Description: Hires for Management Consulting Points of Difference: Oliver Wyman is an established leader in the Financial Services consulting industry and was formed recently in 2007 through the merger of: Mercer Oliver Wyman, Mercer Management Consulting, and Mercer Delta by Marsh & McLennan Companies (MMC) which is Oliver Wyman s parent company. Mercer Oliver Wyman specialized in banks and the financial services industry, Mercer Management Consulting was spread across all industries, and Mercer Delta had a focus in organizational transformation, leadership effectiveness, and human resources. Thus the combined Oliver Wyman participates in servicing virtually every industry worldwide. Oliver Wyman is unique from the other top consulting firms in a variety of ways. It is currently the fastest growing consultancy of the top ten global management consultancies. Oliver Wyman has very flexible work life options as it provides 10/11 month work years and allows sabbaticals to pursue other interests. Perhaps the most significant differentiator for Oliver Wyman is its international staffing model that allows consultants from the Toronto office to be staffed anywhere in the world. Industries: automotive, aviation, aerospace and defence, communications, media and technology, energy, financial services, health and life sciences, industrial products, retail and consumer products, and surface transportation Services: actuarial services, business and organization transformation, CEO effectiveness, corporate finance and restructuring, risk management, leadership development, marketing and sales, operations and technology, strategy. Compensation: 1 st year out of Undergrad for 2011 in Canada Oliver Wyman has one of the best first year compensation packages available from the major firms. Base Salary: $75,000 Signing Bonus: up to $10,000 Performance Bonus: up to $15,000 (20% of base salary) What to expect for the interview? Undergrads recruit for the Consultant Position. First Rounds two 30 minute case interviews held by the Oliver Wyman recruiting team Second Rounds four 30 minute interviews (three case and one case + experience and fit) held by partners at the firm 19

20 Oliver Wyman has a math test that consists of 30 questions in 20 minutes. Expect significant variety from case to case in the interviews. Some will be very heavy quantitatively while others will test your reasoning skills. Tips: Oliver Wyman has a better idea of their industries, case studies, research and numerous publications. Be sure to do your best to attend the Oliver Wyman info sessions and their networking events as they do take note of who attends. Prepare for a wide range of questions, and hone your mental math and analytical thinking. The cases in 2010 were quite condensed so make sure you don t spend too much time covering the breadth of the case, while discovering the key problem in each. Use the interviewer as your guide and as with any case stay composed. 20

21 Secor Consulting (390 Bay Street, Suite 2400, Toronto) Size: Boutique 6 offices in 3 countries 4 offices in Canada Less than 200 employees worldwide Approximately 50 employees in the Toronto office Description: Hires for Strategy Management Consulting ** Note: Secor Consulting was bought out by KPMG LLP in July of 2012 Point of Difference: SECOR is one of the few Canadian-based international strategy consulting firms. It was founded in 1975 by three eminent management academics. It is now the leading consulting firm in Quebec and the largest independent strategy consulting firm in Canada. The firm identifies four key ways in which it differentiates itself: SECOR works in high impact, experienced and credible task teams of typically three to five consultants for strategy, who immerse themselves into executive groups to promote knowledge transfer and discipline, all the while understanding the full range of business issues required to ensure success. SECOR leverages from within by fully applying existing resources and know-how before looking for expensive outside solutions. SECOR is bottom-line focused and aims for concrete results with an entrepreneurial drive marked by objectivity and accountability. SECOR builds rapport by combining candour and openness with a unique ability to respectfully challenge the status quo and reach the optimal solution. Each of SECOR s offices has differentiated characteristics that attune them to their local market. Despite its size, SECOR consultants are heavily involved in academic publications and books. The firm also publishes regular newsletters. Industries: financial services, energy and resources, healthcare, telecommunications and media, retail and consumer goods, manufacturing, transportation, public sector Services: strategy, corporate finance, sales and marketing, organization design, leadership and culture, post-merger integration, operations and supply chain, technology strategy Compensation: 1 st year out of Undergrad for 2011 in Canada Base Performance Salary: $65,000 Signing Bonus: $7,000 What to expect for the interview? First rounds two one on one case interviews Second rounds panel case, where candidates have time alone to prepare a brief presentation before meeting with members of the firm 21

22 Candidates will also meet with member of the senior leadership team to discuss their background and opportunities at SECOR. Tips: As a boutique firm, fit with the firm may be a more important factor than is the case with larger firms. Secor will do mock interviews on campus during Career Launch, so take this opportunity to learn more about the firm. Secor has posted resume tips at: 22

23 Resumes and Cover Letter Tips Cover Letters A critical first impression that you make within a firm comes from your cover letter. It is important not to underestimate what these few sentences can do for your chances in getting a job and kick-starting your career. It can identify you as a candidate with great potential but can also diminish your chances of getting an interview. Therefore, it is important that you take your time in creating a cover letter that is well thought-out, professional, and effective. Your cover letter should address the three questions: Why, What, and How? The Why asks: Why are you writing to this specific person? Reference a mutual acquaintance that referred you to the person receiving your cover letter Reference a time you ve encountered this person Why do you believe you should be applying? Explain in one or two sentences why you should be considered for the position Example 1 (Mutually known reference): John MacDonald directed me to you when suggesting I should apply for the position of associate at Boston Consulting Group. Having recently found myself in the leadership position of several consulting initiatives, I am certain that I can contribute to your team. Example 2 (Introducing yourself): Please accept my application for the Associate position posted on the Queen s Career Portal. Having recently found myself in the leadership position of several consulting initiatives, I am certain that I can contribute to your team. The What asks: What skills and experience do you bring? Name relevant skills and be able to prove them Reference your relevant achievements What evidence is there that this candidate has proven potential? Quantify your impact Example 1 (Introducing experience and distinction): I worked as a consultant for a small Swedish textile manufacturer. Although the youngest on the team, I was quickly designated a leadership role for my ability to convert raw and abstract ideas into tangible recommendations. As the leader of an international team, I was responsible for facilitating discussions between clashing cultures and personalities. To mitigate this issue, I implemented a feedback system recommended by a former consultant and professor. Example 2: (Providing Metrics and Resolution) The team, in my opinion, provided exceptional value to the client and they now have projections of increasing sales by 120% by the end of 2012 and increasing ROS from 17% to 30%. Although my 23

24 responsibility with this firm is at an end, I sincerely hope that they achieve these lofty projections, and I have offered myself to assist with the implementation going forward. The How asks: How will you follow up? Reference the next course of action you will take in reference to the process At Queen s, this should be a one sentence closer For more experienced positions, you are expected to make follow-up arrangements Example 1 (Standard Close): Thank you for your time in reviewing my application. Please let me know anything I can do and I look forward to hearing from you. Example 2 (Following Up): (Do not use this for the majority of applications directly from undergrad as there is a large pool of applicants and you do not want to monopolize the time of recruiters at this stage) I would very much like the opportunity to interview with you and your team, and will follow up with a call between 3pm and 4pm on Monday the 15 th. It is important that your cover letter does not just repeat what your resume states. Your cover letter gives you a chance to make a more personable impression. Resumes There is no distinctly correct way to craft a resume, as there will be different interpretations of your resume in different industries and by different people. The following assumes your understanding of resume templates and focuses on more specific pointers while creating your resume: During the completion of your undergraduate degree, most resources agree that your resume should be limited to a single page. Ensure you list each bullet in the following format: what you did, how you did it, what was the result When listing achievements and experience, explain your personal role and contribution Use an active verb when stating achievements (i.e. Planned, Managed, Presented) Sometimes less is more it makes analysis of skills easier Quantify your accomplishments and make them easy to understand Previous strategy consulting experience is an asset; try to determine where you may have used strategy consulting skills and highlight those experiences (from Secor Group Resume tips) 7 Use dollar figures to demonstrate size and scope of projects that you worked on (from Secor Group Resume tips) Avoid jargon (especially technical jargon) that your potential employer might not understand Using pronouns is redundant: Take out I or me Write out number numerically eg. 3 not three Focus on results rather than roles

25 Do not overcrowd your resume, if the recruiter is interested, he/she will ask questions Sharing your resume with your peers, the BCC, the Queen s Writing Centre, and your professors can help you get valuable critiques and feedback before sending it out to those assessing it. A very interesting three step process for first impressions from (Recruiter s point of view): 1. You look for the specific consulting skills that are needed in the job 2. You read the Interests/Hobbies section because, let s admit, it s the most interesting part! 3. You do an overall review of the resume s professionalism, paying attention to alignment, grammar, and typos Sometimes it may seem difficult to properly include interests and hobbies in your resume. Since it s generally the most interesting part, make sure it s well written and clear. The two most common mistakes that occur when writing this section are lacking specificity and rambling. 8 Good Example Bad Example Specificity Competitive tennis player Enjoys playing lots of sports Use of Language Avid hiker Loves hiking Finally, two rules that you can either choose to follow at your own discretion: 1. Everyone seems to disagree on whether our age group should be including high school information or not. If you have impressive high school information probably include it, and if not, probably forgo it. 2. There is a standard rule of 3, which specifies 3 major experiences with 3 major bullet points in your work experience and in your extracurricular experience. You can follow this if you would like, but as long as you are not including information that is superfluous it is not critically important to follow. For both your resume and cover letter, the number one rule is always to edit, edit, edit. Even if you are the perfect candidate for the position, no company wants to hire someone who is careless. Don t let silly spelling and grammar errors be a road block on your path to success

26 Networking Networking will come naturally to some people. There are those that can talk easily and are easy to talk to and there are those that dread nothing more than meeting new strangers who they desperately want to impress. Networking advice can seem like common sense, but please take the time to go through each of the following steps and make sure you can be the best networker you can be. The following is a top 5 list of some rules of networking: Ask for introductions: Knowing one person that you know is comfortable making introductions can be the crucial step to getting an in with someone you would like to talk to. These introductions could occur at a recruiting session or at a summer barbeque make sure you seize all the opportunities you can. Be Prepared: This will count especially when networking with those who have considerable experience. You don t have to seem like a stalker, but you should have knowledge of their position and perhaps some of the work they have done in the past. Don t Apologize: Some people start a networking session feeling like they are just imposing on the other s time. The people you will be networking with know that you are a talented individual that may be able to help them in the future. Don t apologize for asking questions and wanting to learn more. Listen Intently: If you can show that you listen intently, people will be happy to be around you. The main reason for this is that people genuinely love to talk about themselves when they know others are listening and are impressed. You can also mention parts of the discussion that you had in your follow-up . Follow Up: If you don t follow up, your networking is for nothing. Another thing to be noted is that your web presence can be seen by almost anyone -- recruiters included. If you re using social networks like Facebook and Twitter, be careful of what is being displayed about you. Chances are, pictures that you don t want your mom seeing, you don t want recruiters to see either. Take a minute to make adjustments to your profile or privacy settings and ensure that your personal life is kept personal. That being said, social media can be an excellent way to connect on a professional level take advantage of networks, like LinkedIn, and make yourself accessible to recruiters. It s also important to not try too hard. Please take a look at this networking video by networking expert Keith Ferrazzi on how to not be a networking jerk: THE WISDOM OF DALE CARNEGIE IN FIVE BULLET POINTS Finally here is an interesting excerpt from the rules of Dale Carnegie (taken from CIO.com) considered once to be the foremost expert on networking 9 : Dale Carnegie literally wrote the book on networking in How to Win Friends and Influence People demystified the process of making friends out of strangers and inspired legions of business coaches to carry on Carnegie's message. Peter Handal, the chairman, CEO and president of Dale Carnegie & Associates, shared some of Carnegie's rules for meeting new people:

27 Smile: "This is such a simple, basic rule, yet people just don't think about it," says Handal. They're so focused on needing to network at a conference that they don't realize they're walking around with a scowl on their face. Scowling, serious, expressions are forbidding, says Handal. People are more likely to warm up to someone who says good morning with a broad smile than they are to someone with a dour countenance. Ask a question: Joining a group engaged in conversation can be awkward. The best way to do so is to pose a question to the group after getting the gist of the conversation, says Handal. "You build your credibility by asking a question, and for a shy person, that's a much easier way to engage than by barging in with an opinion," he says. Listen: One of the most profound points Carnegie made in How to Win Friends was that people love to talk about themselves. If you can get people to discuss their experiences and opinions and listen with sincere interest you can have a great conversation with someone without having to say much at all. Business cards: Always have them handy, says Handal. "They're an effective way for you to leave your name behind so that people remember who you are." Say the person's name: "People like to hear their own name," says Handal, pointing to another one of Carnegie's basic principles that a person's name is the sweetest sound to that person. So when you meet someone, use his name in conversation. Doing so makes the other person feel more comfortable, like you really know him and he knows you. 27

28 Preparing for Case Interviews (See the PREPARATION section for more details on how to prepare) Case Preparation is arguably THE most important part of your interview. This is something very hard to do on your own so make sure to practice with other people. QCA hosts weekly case prep training sessions and competitions to help you network with other students going through the process and to provide tips on how you can improve for the real deal. We also have special guests come from QSB, Alumni and Industry to give feedback and guidance. Case prep Session Dates: September 2012 September Case Prep Sessions Sept 9 Introduction & What To Expect In Recruiting Sept 11 Philosophy of Case Interviews Sept 13 Mental Math & Market Sizing within Cases Sept 18 Summer Intern Panel Sept 23 Behaviour Interviews Sept 25 Industry Specific Sept 27 Reading/Working Around Slides Sept 30 Q&A October Case Prep Sessions Oct 2 Oct 4-14 Open Session Firm Specific Information Sessions (2012) Info Sessions - Tentative Schedule Date Time Company Target Sept 10 5:00 PM Oliver Wyman Graduating & Summer Sept 10 7:00 PM AT Kearney Graduating (maybe summer) Sept 11 5:00 PM Accenture Graduating & Summer Sept 12 5:00 PM Deloitte Consulting Graduating & Summer Sept 12 7:00 PM Bain and Company Graduating & Summer Sept 13 5:00 PM Boston Consulting Group Graduating & Summer 28

29 Sept 13 7:00 PM McKinsey & Company Graduating & Summer Sept 13 7:00 PM Bell Canada Graduating Sept 14 5:00 PM Trindent Consulting Graduating (maybe summer) Sept 18 5:00 PM Secor Consulting Graduating & Summer Sept 18 7:00 PM Towers Watson Consulting Graduating (Maybe Summer) Sept 19 6:30 PM Pricewaterhouse Coopers Consulting Graduating & Summer Sept 20 5:00 PM Monitor Summer Sept 20 5:00 PM Mercer Graduating & Summer Sept 20 7:00 PM Monitor Graduating Application Timelines Applications consist of a resume, cover letter, unofficial transcript and, in McKinsey s case, a leadership essay that asks you to describe a time where you worked with a difficult team member. Applications are usually due anywhere from the day after to one week after the information session. Give yourself lots of time to prepare these documents and use the BCC as a resource to help you edit and prefect them. Sign up for a resume review on MyCareer. TIP: Send your Resume, Cover Letter and Transcript in one PDF instead of multiple attachments. This makes it easier for the recruiter! 29

30 Interviews What to wear: Men Business formal: black or grey dress pants and matching blazer, black socks, black dress shoes, black leather belt, dress shirt (light or medium blue, avoid banker shirts white collar and coloured shirt), conservative tie (avoid bold or dramatic patterns this is not the time to be a fashion guru), no cufflinks Make sure everything is ironed and dry cleaned A watch and minimum jewellery Tidy hair, away from the face Clean shaven or well-groomed facial hair Very light to no cologne (but wear deodorant!) Women Business formal: black or grey dress pants and matching blazer, nude tights (women), black dress shoes, dress shirt (pale blues or greys), wear an undershirt and avoid low neck tops A watch and minimum jewellery Manicured/clean nails Tidy hair, pinned back and away from the face Very light to no perfume (but wear deodorant!) What to Bring: Pens Blank Paper Business Cards Watch Copies of your Resume Bottle of water Business portfolio to hold everything The Day of: Try your best to relax Quickly review the daily news Warm up your voice talk to someone or yourself Warm up your brain do some easy math calculations Use the washroom Have a light snack to make sure you can sit through 3 hours of interviewing Take a look in the mirror, smile and go for it! First Round Interviews First round interviews will usually be conducted on campus in Gordon Hall or Goodes Hall. Arrive at least 15 minutes before your interview to give yourself time to relax and absorb your surroundings. There will usually be seats set up for waiting, and at times, there will be a company representative in the waiting 30

31 area to talk to and calm your nerves. Wait in the waiting room until a consultant comes and calls you into the interview room. Interviews are generally minutes each. Most firms have two case interviews with behavioural included. For more specific details on what to expect for first round interviews by firm, see the firm description. Second Round After your first round interview you can expect to hear back from one of your interviewers within a few days, sometimes a few hours. In this conversation they will let you know whether or not you have received an invitation to second rounds. Whether you move on or not, this is a good opportunity to request feedback. It is a good idea to ask about your greatest strengths and weaknesses in order to improve your interviewing skills for the next round, next firm or in general. Invitation to Second Rounds: Congratulations! This is a huge accomplishment. Second round interviews are generally the final rounds and are hosted at the Firm s office. Firms will generally take care of all of your expenses including train tickets, accommodation, meals and taxis (keep receipts and you can submit them for reimbursement after). Usually a firm will pair you up with a mentor at this point to help guide you through the process and allow you to ask questions or even complete a mock interview. Mentors usually have little to no weigh in on the hiring decision so are a great resource to use for questions. You can expect dinner and cocktails the night before the interview to meet firm employees and other candidates. Although this is not considered part of your interview, you will likely meet people who will be interviewing you the next day. This is a great time to make a good first impression and highlight good client skills. Second round interviews: Second rounds are generally more intense. You will likely meet with senior partners within the firm and may have a full day of interviews rather than the 3 hours in the first rounds. Senior partners are looking for the full package. They look for the same clear logic and comfort with quantitative analysis as they do in the first round. However, they also expect you to drive the interview, remain composed and to be able to talk about the news and topics of interest. In this way, the behaviour component is much more significant. They want to see if you are someone they could work with! Like first rounds, successful and unsuccessful candidates will be notified over the phone by one of the interviewers within a few days, maybe as soon as the day of. Job Offers Congratulations! Outstanding candidates will be extended an offer to join the firm for either the summer of full time. A partner will likely call to extend the offer and provide general information then will mail a contract with more details. They will likely understand that you are interviewing with other firms so take your time. At this point the firms will give you all the information you need to make a decision and will often invite you to an offer party to meet other employees and candidates in order to make the decision easier. Contingency Plans Not receiving an offer can be extremely frustrating and demotivating. If you were unable to secure a first round interview, set up a meeting with the BCC to review your resume and cover letter. Try to make 31