What Can a Business Consultant Do for Me, and How Do I Choose One?

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experienced consultant

In a nutshell, a consultant is hired to share their knowledge and expertise to help businesses attain their goals. They are there to solve problems – or as a consultant would phrase it – help you meet your challenges. 

What Types Are There?

What type of consultant you need depends on the issues you want to resolve. There are many different types of consultants, but in general, they cover five areas of business.

Management and Strategy

Management consultants add value at the highest level. Ideal if you are looking to expand your market, re-organize your company for maximum efficiency, increase the capability of your existing organization, or even buy out a smaller competitor.

Operations

An operations consultant can help you improve the quality and efficacy of your production process. Other consultants are experts in quality control systems and can help you make changes that will reduce defects.

IT

Technology is a fast-growing area for consulting, as these demands impact companies every day. An IT consultant can help you to develop a new system or integrate your old systems so that they work together.

HR

People are the backbone of your business. If you need to improve the overall recruitment and then maintain the satisfaction of your employees, recruit top talent, and retain your best performers. HR consultants can help with this.

Marketing

Businesses need always to be one step ahead with their marketing concepts. Whether you need a new logo for your company, a new market position for one of your brands, or a new social media strategy, marketing consultants can help.

How Do I Choose?

Choosing the right business consultant isn’t easy. There are many factors to consider. So where do you begin?

Search

Use your local resources, organizations, and the internet to identify candidates.

You might want to ask colleagues in similar businesses for their recommendations.

Interview

Conduct in-depth interviews. Is the candidate a member of a professional consultants’ organization? Check with that organization to see if they are in good standing.

Check that the candidate has the appropriate business insurance, according to Brokerlink Business Insurance this can be a complicated area, so get advice if you are unsure.

Is the candidate willing to sign a non-disclosure agreement and ask about fees and other costs?

Are They the Right Choice?

How long will they need before they can propose solutions? Will they help you implement changes in your organization and how?

Can you work efficiently with the candidate? Do they fit with your business culture, your employees, and especially with you. Think about qualities such as a sense of humor, tactfulness, direct communication, and integrity. Check references and insurance documents.

To Sum Up

A business consultant can add value to any company. Once you’ve decided on which division of the organization and in what capacity they will perform, you can set out to find just the right one.

They need to come with solid credentials and need to be able to hit-the-ground-running from the moment they join. Hire one now, and watch your business soar!

How To Start A Consulting Business

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Smiling successful young businessman

With the economy thriving right now, many entrepreneurs are looking around and noting that it’s a wondrous time to start their own business. Few professionals have enjoyed such stellar success in recent years as business consultants, whose valuable expertise steers their clients towards profitable waters while avoiding any financial calamity along the way. Starting your own consulting business is easier said than done, though, and it would be foolish to walk into this endeavor without having researched ahead of time.

Here are some inside tips for how to start a consulting business, and the pitfalls you’ll likely encounter on your way to fame and fortune.

What kind of consultant do you want to be?

Perhaps the most important question that any prospective entrepreneur should be asking themselves is what kind of consultant you want to be, as there’s no one-size-fits-all approach to this industry that can guarantee you success. Some business consultants focus on IT matters, for instance, bolstering the digital operations of their clients while offering them useful advice on what technological changes to expect in the near-future. Elsewhere, financial consultants work tirelessly to dig failing business out of the red and get them back on their feet, and a myriad of other consultant styles also exist to pick from.

If you don’t have a clear image in your mind of what kind of consultant you intend to be, your business will be a failure from the very get-go. Know your skills, experience, and the extent to which you can advise businesses wisely, and you’ll have an easier time determining what kind of consultancy operation you’re looking to start. Regardless of who you are or what you’re an expert in, though, several common pitfalls can cause your business to come crumbling in on itself only just after it’s gotten up and running.

Any entrepreneur eager to start their own consulting business should set some time aside to review the common mistakes that such businesses make far too often in the pursuit of greater profitability. A failure to take the mistakes of others into account when charting out your own business will inevitably lead you to suffer from similar errors. Furthermore, studying up on what not to do often helps you determine what it is that you do best and what it is that you should avoid handling personally. As always, remember that your personal strengths are going to be an instrumental facet of your success when it comes to starting this business.

Know how to charge your clients

The next thing to figure out is what you’re going to charge clients, and how you can identify good benchmarks by which to compare yourself to others in your industry. U.S. consulting spending topped an astonishing $58 billion back in 2016, so it’s safe to say there’s plenty of money out there for you to grab with both hands – the only question is how you’ll arrive at an affordable yet competitive rate which separates you from others. You should also be asking yourself how you intend to protect your business, as a consultant can rapidly lose everything in the event of an unexpected disaster which devastates their business infrastructure.

Knowing the benefits of having business insurance is something that aspiring consultants should have accomplished well ahead of the time that they start their business. It’s never too late to learn, though, so don’t think that you can continue to shun insurance and other protective measures for your consultancy just because you’ve avoided calamity thus far.

Finally, you’ll want to consider how you’re going to go about differentiating yourself from your competitors with a savvy marketing campaign and digital presence that enables clients to find you easily.

Making your consultancy known

You’ll never make a fortune as a business consultant until you make your consultancy known with a stellar ad campaign or digital presence that inspires clients to flock to your services. The importance of having a robust web presence in this day and age can’t be overstated; you should have social media operations up and running by the time your business opens its doors and should have some means by which you’ll be paying for online advertisements to lure in your first clients.

You should also understand how important networking is going to be to the success of your company. Consultants who don’t know how to schmooze will never succeed, as this business is heavily dependent upon forging strong personal relationships that enable you to cash in on your extensive expertise. If you read up on how consultants get clients thanks to their networking chops, you’ll appreciate the importance of getting your name out there.

Focus on protecting your business from unexpected disasters while forging a strong web presence for yourself, and your consultancy will take off in no time. Before long, you’ll have climbed to the top of the dog pile thanks to your expertise and the stellar ways by which you’re marketing it to the public.

List of Management Consulting Firms

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Management Consulting Firms

One of the preparatory activities to land a consulting job is to enumerate at least five firms you’d like to be a part of. This way, you’ll be able to focus your networking and research strategies towards your goal. To help you choose, we have a list of 50 well-recognized management consulting firms in this post.

What Is a Management Consulting Firm?

It is a business that aims to help organizations analyze their problems, develop solutions and improve their performance. It employs consultants that offer objective advice as a basis for strategic decisions, organizational management and market ventures. These consultants keep themselves abreast with industry best practices as they serve as main reference in generating recommendations from time to time. Please refer to this detailed job description of management consultants for more information.

List of Management Consulting Firms

We conducted extensive research and came up with a list of 50 renowned firms all over the world. We also provide a link to their website so you can dig up more details.

MANAGEMENT CONSULTING FIRM OFFICE WEBSITE
A.T. Kearney Chicago, IL Visit Website
Accenture New York, NY Visit Website
Alvarez & Marsal New York, NY Visit Website
Analysis Group, Inc. Boston, MA Visit Website
Bain & Company Boston, MA Visit Website
Bates White Washington, DC Visit Website
Booz & Company New York, NY Visit Website
Capgemini New York, NY Visit Website
Censeo Consulting Group Washington, DC Visit Website
Charles River Associates Boston, MA Visit Website
Cornerstone Research San Francisco, CA Visit Website
Dean & Company Vienna, VA Visit Website
Deloitte Consulting LLP New York, NY Visit Website
Easton Associates, LLC New York, NY Visit Website
Ernst & Young LLP (Consulting Practice) New York, NY Visit Website
FTI Consulting, Inc. West Palm Beach, FL Visit Website
Health Advances, LLC Weston, MA Visit Website
IBM Global Business Services Armonk, NY Visit Website
IQVIA Consulting Group New York, NY Visit Website
Jabian Consulting Atlanta, GA Visit Website
Kaiser Associates Washington, DC Visit Website
KPMG LLP (Consulting Practice) New York, NY Visit Website
L.E.K. Consulting Boston, MA Visit Website
McKinsey & Company New York, NY Visit Website
Mercer LLC New York, NY Visit Website
Milliman, Inc Seattle, WA Visit Website
Monitor Group Cambridge, MA Visit Website
Navigant Consulting, Inc. Chicago, IL Visit Website
NERA Economic Consulting New York, NY Visit Website
Novantas LLC New York, NY Visit Website
OC&C Strategy Consultants London, United Kingdom Visit Website
Oliver Wyman New York, NY Visit Website
Pearl Meyer & Partners, LLC New York, NY Visit Website
Point B Seattle, WA Visit Website
Pricewaterhouse Coopers LLP (Consulting Practice) New York, NY Visit Website
PRTM (a PwC Company) Waltham, MA Visit Website
Putnam Associates Burlington, MA Visit Website
Quintiles Consulting Hawthorne, NY Visit Website
Simon-Kucher & Partners Cambridge, MA Visit Website
Stern Stewart & Co. New York, NY Visit Website
Strategic Decisions Group Palo Alto, CA Visit Website
Strategos Chicago, IL Visit Website
The Boston Consulting Group, Inc. Boston, MA Visit Website
The Brattle Group Cambridge, MA Visit Website
The Cambridge Group Chicago, IL Visit Website
The Chartis Group New York, NY Visit Website
Triage Consulting Group San Francisco, CA Visit Website
Trinity Partners, LLC Waltham, MA Visit Website
West Monroe Partners Chicago, IL Visit Website
ZS Associates Evanston, IL Visit Website

If you desire to be part of any of the management consulting firms listed above, you should get to know the firm’s structure, services and its clients’ sectors.  If you visit their site, you’ll gain information on how the firm started, where their offices are, how the typical work day looks like, how they take care of employees and what they require. This may take time and effort but it’s a critical step to be able to effectively prepare a winning management consulting application.

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Consulting Case Interviews: How Well Am I Really Doing?

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Congratulations

Firstly, if you’ve made it to the final phase of the recruitment process, you’re on the right track. This means that you have the credentials, as well as the mental and social capacity to fill in the vacant consulting position. However, the case interview can get the best out of anyone. Applicants have been known to buckle under pressure, making the process extremely unbearable.

Even if you think you are on the right track, misleading questions can easily make you question whether or not you are really qualified for the position. Furthermore, the body language of the recruiter can be influenced by a number of external factors that may not be related to the case interview.

As confusing as these elements might be, there are ways to tell how well you’re doing during a consulting case interview.

Clear Signs

In most cases, the signs of how well you’re doing are obvious. Interviewers don’t have much time to entertain applicants who they see are not fit for a spot in the firm. Case interviews normally take some time to complete. If your interview was cut or seemed noticeably short, this could be a sign that you did not do so well.

If you aced the case interview, interviewers may talk a bit longer about what it’s like to work in the firm, or more about the vacant position. They will be specific about the steps ahead, such as providing specific dates on when you should come back or set an appointment with the secretary for your next visit. If he or she willingly gave you a personal business card without you asking for it, you may very well be in the running to become part of your target firm.

Body Language

The interviewer’s body language can also be used to tell if you’re in the clear or in a hole. As mentioned earlier, body language may not be an entirely reliable method due to external factors. If the interviewer is having a bad day or is burned out from the week, he or she may naturally look stressed even while giving you praise.

Body language that is directed towards the applicant in a blunt manner should be taken in consideration. If the interviewer makes direct eye contact with you and rolls his or her eyes, this could be a sign that you need to do some serious catching up. Furthermore, if the interviewer shows clear signs of boredom and is uninterested in your answers chances are you are not doing so well.

If you catch yourself in this unfavorable position, it is best to make some adjustments. Don’t continue to go in the direction you’re heading and hope that something you say will turn things around. It usually never happens, because one right phrase doesn’t make up for several wrong answers.

The Role of the Interviewer

The interviewer serves a strong purpose during the case interview. They are there to guide applicants through questions and facts. They drop small hints, which will let you know if your answers are sufficient, or are running cold. If the consulting interviewer asks the same question in several different forms, this is a sign that you need to elaborate more in your answer. When this happens, simply take the time to recompose yourself and provide a thorough solution. Repeatedly guessing in small phrases is not advisable, as it can make you appear unreliable.

If the interviewer moves on to a new question in a positive manner and stops providing hints, then chances are you were able to steer clear of trouble. On the contrary, if he or she gives up and provides you with the answer in a condescending tone, then you can’t afford to make any more mistakes.

Signs of Success

There are several ways to tell if you are on the road towards a successful case interview. If you have the undivided attention of the interviewer and he or she apologizes for distractions, such as notifications or phone calls, then it shows that you are providing the right answers. Part of the recruitment process usually includes a tour of the firm. If the interviewer casually introduces you as the next person to fill in the open consulting position in a non-joking manner, then it is safe to say that you left a striking impression during the interview. Although these are clear signs of success, it is never final until you’ve signed the employment contract.

How Did Everyone Else Do?

In some cases, you did well and were scheduled to return in a few days. Then you received a call the following day saying that they already found a candidate to fill the position. Your case interview wasn’t cut short and the recruiter praised you for a job well done. What happened?

The margin of error during the case interview is incredibly thin. If you were part of a very competitive batch, simply providing the right solution or meeting the interviewer’s standards won’t do. If everyone else did the same, and the applicants before you set the bar extremely high, you need to exceed the expectations of the interviewer. Additionally, if the other applicants who came after you aced the case flawlessly, then it could also be a reason why the firm had to reconsider in choosing you as the final candidate.

It’s not recommended to form small groups in the lobby immediately after the case interview to discuss how everyone did. Instead, leave the premises and evaluate yourself personally before contacting the other applicants. Did you miss any signs or hints the may have predicted the results of your case interview?

Are You the Perfect Candidate?

Interviewers are looking for not only looking for the smartest applicant, but also one who has exemplary social skills. Because consulting is a team-oriented profession, recruiters need to be sure that the candidate has the personality to rub shoulders with the other consultants. Each member of the firm, from partner all the way to the IT staff, was handpicked to represent the company.

During the case interview, you would be able to gauge if you are able to connect well with the recruiter and everyone else whom you had an encounter with, such as the secretary and other consultants. That connection matters. If you felt that despite providing correct solutions, you and the interviewer are not on the same wavelength or line of thought, then something might be off.

It is normal for the first few minutes of the case interview to be awkward or a bit shaky. After all, it’s your dream job on the line and interviewers can understand what you’re going through. From here it’s up to you to break the ice quickly. Make the necessary adjustments to not just think about yourself, but also from the point of view of the recruiter.

Personal Evaluation and Reassessment

How an interviewer is assessing your performance during the case interview is not a complete mystery. Taking a few minutes to evaluate yourself on a personal level can help you determine how well you actually did. While it is best to be optimistic, a reassessment of your performance can help you patch up gaps in your character, career and personal development.

For example, if you struggled when selecting a framework to apply during the start of the business case, then (even if you were given the position) it would be a good idea to go back and review that key aspect of the case. Because the entire consulting interview process is highly structured, the results are also somewhat predictable.

If you’re coming in with the exact same educational background and credentials as the other associates in your target firm, it is likely that you will be favored compared to an applicant who has a number of questionable components in his or her resume. Additionally, if you’re hoping that the interviewer will overlook some of your answers during the case and focus on your strengths, it is a sign that your preparation was lacking in some crucial areas. When it comes to the case interview, if you were unable to direct yourself towards find the right solution in the first 5-10 minutes, it would be nearly impossible to suddenly stumble upon the solution during the latter parts of the process.

What Does a Successful Case Interview Look Like?

A successful case interview is one that goes very smoothly. The applicant’s answers are in sync with the interviewer’s guidance. It will almost seem like the applicant is not trailing too far behind in the progress of the case. When an interviewer knows that the applicant is right for the position, they tend to let their guard down a little. A smirk, off-topic joke or a simple nod may be a way of subtly saying congratulations, you have the job.

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Carlson Consulting Club

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Consulting Clubs

The goal of the Carlson School of Management’s consulting club is to increase the probability of their MBA students being hired for consulting positions. They do this by facilitating different activities so members can develop their own methodologies and techniques.

Three Main Activities

The club’s activities can be categorized into the following:

  • Interview Preparation – Since the case interview is a tool recruiters use in the selection process, the club offers workshop and practice sessions to help student crack the case.
  • Networking Opportunities – The club makes use of its alumni network to organize events that let students interact with key people in the industry.
  • Consulting Showcase Events – The club invites management consultants to talk about their experience, clarify issues of students and share some tips.

Related Organizations

The club is related to the following:

  • Carlson Consulting Enterprise – This is a two-semester course that provides practical and theoretical consulting background to students. The enrollees are assigned to work in teams on projects for local companies. Their project work will be supplemented by weekly classes where they will be taught management consulting skills and strategies. Students are able to interact with clients and at the same time, get advice directly from their professors. The package makes the experience not only meaningful, but also practical. When students finish this course, they will have the confidence to apply at top tier firms, such as McKinsey, Bain and Deloitte.
  • Graduate Volunteer Consultants – This is an organization of MBA & MA-HRIR students who provide consulting services to non-profit organizations for free. In the past, the club has done a project on strategic planning, human resources transformation, marketing development and operations management, among others. For school year 2011-2012, the club was able to finish 16 projects.

Visit Carlson Consulting Club’s Website

To know more about their activities and contact information, kindly visit their website.

ESADE MBA Consulting Club

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Consulting Clubs

The ESADE MBA Consulting Club aims to demonstrate how the school offers an exemplary program for those who want to make it to the management consulting industry. It also provides opportunities to develop the members’ strong analytical, quantitative and other skills necessary for future responsibilities.

Case Interview Preparation

The club organizes activities to enhance students’ confidence during case interviews, the most important part of the screening process. They facilitate workshops and sessions on how to resolve business problems within limited time. They invite a speaker from a remarkable management consulting firm to explain how to apply frameworks in different scenarios.

ESADE MBA Casebook

In 2011, the club released its first ESADE Casebook in partnership with Boston Consulting Group (BCG).  It consisted of 21 cases, interviews with BCG consultants, and some preparation tips added by the same firm. The book is valuable for those who like to take their recruitment preparation to a higher level. For the club, this milestone has promoted the school as one of the top providers of great candidates for this industry.

Visit ESADE MBA Consulting Club’s Website

To know about the club’s networking activities, career forums and other events, kindly visit their website. It has also links to publications of firms such as McKinsey and BCG for your reference.

Management Consulting vs. Accounting

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Management Consulting Internships

Management consultants and accountants provide different services to the organization. However, both their contributions are vital to the regular operations and future decisions of top management.

Area of Concentration

The main responsibility of consultants is to resolve the business dilemma of their clients. To execute this, they analyze the scenario presented to them, along with the factors affecting it. This connotes going into the details of the market situation, the company’s financial status, competitors’ strategies and capability of human resources. The recommendations of consultants guide top management in making decisions related to their operations. Management consultants have diverse and dynamic role for they can settle any problem of a company, and they are sent to different sectors, too.

Accountants, on the other hand, focus on managing financial information. They maintain accounting records, develop company budget, process payable and receivables, audit financial documents and compute business taxes. Their records are considered crucial because they reveal the status of the company. They can tell whether the company is financially thriving or is doomed to bankruptcy. Many companies have their own accounting departments, but some just outsource accounting services to external providers.

Management consultants often use accounting documents and consult with accountants as they work on a project. These, among others, become part of the bases of their recommendations.

Significant Skills and Values

Management consultants are required to have critical thinking skills. They must view the scenario from different angles to encapsulate all factors. Breaking complex ideas into simple ones and integrating bits of information to get the entire picture help them understand the situation. Apart from these, they need to be determined enough to address their client’s needs. This may mean working overtime just to beat deadlines.

The most important value accountants must have is accuracy. They need to be meticulous with numbers to generate timely and precise reports for top management. Further, accountants must also hold on to honesty; otherwise, the system will be prone to corruption and fraud. Maintaining objectivity and avoiding conflict of interest are the other requirements.

Both management consultants and accountants must be very comfortable working with numbers since they’ll deal with figures every day. They must be proficient in using spreadsheets, as well. Possessing excellent communication and organizational skills is another qualification that backs them up in performing their responsibilities.

Educational Attainment

Management consultants can have different educational background, but it often is business-oriented or covers an MBA.

In the other field, professionals must have a degree in accounting. Those who take the licensure examination and become Certified Public Accountant get a better pay and more work opportunities. The license indicates they have reached a higher degree of technical expertise and professionalism.

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Management Consulting Jobs with an Engineering Background

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Job Interview

The world of consultancy has a number of branches. Two of them are engineering and management consulting. Both professions provide advice on business dilemmas. However, they work on different projects because of their respective expertise.

Engineering and Management Consulting Projects

Engineering consultants focuses on sharing their expertise on design and construction. For instance, if a company that’s planning to construct a stylish but environment-friendly building, the owners may consult engineering firms for professional assistance. Aside from infrastructure, engineering consultants also work on projects related to manufacturing, automotive, landscapes, electronics, roadways, etc. Huge engineering firms cover all these services but the small ones focus on a few areas.

Management consulting, on the other hand, focuses on resolving organizational concerns and generating plans for business improvement. If a company plans to launch a new laptop, the executives can ask management consultants to analyze the current market and determine if the product will be a hit or not. Like engineering consultancy, this field is also wide. Services include product development, pricing, market segmentation, corporate strategy, human resources and so on. Global firms cover all these areas but boutique consulting firms focus on a few services.

Do Management Consulting Firms Hire Engineers?

Management consulting firms consider applicants from different backgrounds, as long as they have the factors that enable them to perform their job well. McKinsey is noted for hiring engineering graduates. In fact, they have a three-day seminar called, Insight Engineering & Science. In this fully-paid activity, post-doc engineering students and graduates will be given an overview of consulting, workshop on case studies and introduction on the duties of consultants.

Nicolas D., an expert principal of McKinsey, said that his lack of business knowledge didn’t hinder him from being successful in management consulting. He graduated with a degree in mechanical engineering in France, had his masters in chemical engineering at Stanford University, and had good times at Silicon Valley. At first, he felt insecure of becoming a consultant but when he got employed, he appreciated the way the firm enhanced his innate skills. Currently, he is grateful to use his knowledge and abilities on his important projects.

Why Are Engineers Hired for Management Consulting Firms?

The following skills are being considered by recruiters when hiring engineering graduates for management consulting:

  • Quantitative Ability – Engineers have a high level of mental math. Because they are comfortable using numbers, it is easy for them to analyze and interpret quantitative data, a critical phase of the project.
  • Indicator of Determination – Engineering programs are difficult to finish. The school requirements are tough and the licensure examination afterwards is quite challenging. Hence, an impressive GPA indicates hard work and strong commitment, two values consultants must possess.

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The Truth About Management Consultant Travels

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Group of four leaders smiling on the background of the airplane

Management consultants are known not only for their prestigious role but for their numerous travel engagements. Travel seems to be one of the defining characteristics of consultants regardless of the firm they work for. Working as a consultant generally provides plenty of opportunities to travel, both locally and internationally.

However, many people have a lot misinformation about consulting travel. Here’s the truth about what it is like to travel as a consultant.

Consultants DO NOT Always Travel in Business Class Flights to Explore Continents Every Week

While yes, business class flights are provided for select projects and distances, it is not all the time. Consultants indeed fly business class but they also fly an equal number of economy flights. Also, international projects wherein you’ll need to traverse five different countries in the course of a week of two would be rather occasional. Most travels as a consultant are for domestic projects.

Consultants DO NOT Spend Months in the Farthest Flung Areas

This is the extreme opposite of being overly glamorous. Many people also think that consultants are often required to travel to far-flung areas. While yes, it is not impossible for a management consultant to find himself working in a city that has a few redeeming qualities, such would happen probably just once or twice throughout his career. Consultants work most of the time in large cities and developed countries.

You Will Also Work While Travelling

Yes, there would be time that you’ll need to create a PowerPoint presentation on a flight to make it to the crucial meeting, but it does not happen every single time. Consultants tend to spend part of flight time working only for international travel projects. Why? Because such projects have a higher level of pressure to succeed, both from the client and the firm. It is true that you’ll need to beat a few deadlines wherein you may have to rush from the airport to the client. But the key phrase “a few” must be highly considered.

Consultants DO HAVE a Choice about Where They Work

It is not true that consultants don’t have a choice when it comes to project location and selection. Client choice heavily depends on two things – consultant’s performance on previous projects and seniority. But that doesn’t mean that the mediocre-performing, junior-level consultants would be staffed on lower-interest projects in less-attractive locales. They too can sway staffing decisions in their favor. Staffing is done based on one’s background, interests, preferences and ability to build relationships with the firm’s management

NOT Everything Is Reimbursable

Flights, baggage fees, and travel insurance are reimbursable consulting travel expenses. However, finance charges are usually not reimbursable. Generally, firms will pay for it immediately so you won’t have to carry the cost on your credit card. As far as the airline and hotel upgrade fees, they are seldom reimbursable. Also, incidentals outside the normal meals are typically not covered. In terms of ground transportation, that is generally covered too. However, you should not expect a client to reimburse a limo service. That is just unreasonable, right?

Consultants DO NOT Effortlessly Rack up User Hotel Points/Miles to Enjoy Countless Free Vacations

Many people think that because consultants tend to travel a lot, they easily become Mr. Platinum, Gold, Diamond, Titanium or what have you. Many think that consulting travel means free upgrades on every flight, on every hotel room due to accumulated points of frequent travel. While yes, many consultants do rack up some serious points, it is because they have been in the industry longer than others. Consultants enjoying a certain “status” on every major airline or hotel chain are more likely the senior ones. So it’s really not effortless. And remember, such status won’t last forever. Once you quit consulting, you’ll not be able to enjoy such lifestyle.

How to Effectively Prepare for a Management Consulting Summer Internship

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Business team working on stairs and smiling at the camera

Consultants are impressed with people like them – they can take responsibility, take risks, and rise to a challenge. Remember that leadership is not just about managing people. So, displaying your leadership abilities is key to securing an offer. If you wish to enhance your skill to the next level, take up leadership courses singapore without any hesitation.

Landing a summer internship in a management consulting firm may be quite a challenge. While some known firms have expanded their internship programs, other firms still don’t accept summer undergraduate interns. Although it may be hard to find one, getting an internship with a consulting firm is extremely valuable. Why?

Well, for one you can get a trial period to determine whether or not consulting is the suitable career path for you. Also, you will know more about the job, particularly the skills needed to succeed in this industry. And more importantly, it can give you a huge advantage when it’s time for the full-time recruiting. Of course, this is if you didn’t receive an offer after the internship. But remember that your ultimate goal should be to secure a full-time offer.

With that, here are some tips to help you prepare to have a consulting summer internship.

Read Up!

Follow the industry news. Read consulting books and periodicals such as the Economist and WSJ on a regular basis. Since you have yet to have a real world experience, reading such materials can help you have a better feel for current business problems and solutions. You may also keep yourself up-to-date by reading posts on reputable consulting blogs and websites.

Prepare Your Business Attire

You should know the consulting dress code. In general, this means you should look professional and neat. Dress properly for your clients and colleagues. However, be careful not to dress fancy. Don’t stray too far from the usual business attire. It is better to have neutral colors. You don’t want to be remembered as the fashion consultant rather than a management consultant trainee, right? Also make sure you have sufficient business clothes for an entire week.

Hone Your Communication Skills

One of the most important skill sets to have prior to your internship is communication skills. Well, you don’t need to be the most eloquent person in the firm, but you should be able to speak clearly and with enthusiasm. This is very much important if you really want a career in consulting. Consultants need to deliver a clear message to their clients in a confident manner.

Know the Language and Start Using It

Every industry has their own set of lingo. Be sure that before your summer consulting internship you are already familiar with the different consulting lingo and terms. Although you are a neophyte, you don’t want to be seen as a neophyte without initiative. Prove that you have what it takes to fit in this industry.

Be Ready to Showcase Your Intellectual Horsepower

Let’s just say that consulting is not a world for everyone. The competition in this industry is relatively high, so you need to be able to showcase your worth. This means that your application documents should be polished and written in a way that they highlight your skills and achievements. Be ready to provide solid proof of your skills and other accomplishments that can demonstrate your intellectual capacity.

Craft Impeccable Resumes and Cover Letters

Summer internship roles at consulting firms are quite limited. Therefore you need to have an impressive application to rise above the rest. Write a concise, targeted and professional resume and cover letter. Make sure to highlight your key skills and achievements.

Be Pretty Good with PowerPoint and Excel

Of course, you are very much familiar with PowerPoint and Excel programs because you are using them at times in school. But be sure that you are not just familiar with it – be proficient. Ensure that you know how to make good presentations using PowerPoint, and how to format cells in Excel.

The point is once your internship starts, you’re likely to be overwhelmed with a lot of materials to learn as well as meetings to attend and so forth. With that, you don’t want to be studying about how to do conditional formatting in Excel at the same time. Don’t worry if you are still not that good at these things. There are plenty of resources online that can help you.

Initiate Contact with Recruiters and Consultants

You may have met some recruiters or consultants during company presentations, interviews, meet-and-greets in the past. You can ask for their help to land a summer internship. You can ask for advice or if they know any internship opportunity available. Generally, consultants would be happy to give you some useful pointers. That’s why it is important to always keep in touch with recruiters and consultants. It will surely help you not just in your internship plans, but importantly will increase your chances for full-time recruiting.

Find Contacts through Your School’s Alumni Database

In order to further increase your chances of finding an internship opportunity, you should get in touch with as many people as possible. You may find your alumni database useful to find people who are currently working in the consulting field. Contact them and express your interest in working at their firm. You may also look for relevant contacts through your school’s career development center. Network and try to build connections to people who are associated with your target firms.

How to Get a Full-Time Job Offer

Now, once accepted make sure that everything you do during the consulting summer internship are geared towards securing a full-time offer. To help you do this, remember to:

Make a Strong First Impression

You don’t need to wow every person in the room. But be sure that you show them that you are pretty smart and can get things done.

Showcase Your Drive

A consultant needs to infuse enthusiasm to every project. Show that you are hungry for knowledge and have the drive to accomplish any given task. You can display your drive by the way you talk about your work or simply by having the initiative to do the job. Participate actively – whether it’s just a small piece of work, or in critical brainstorming and team sessions.

Show that You Are Well-Rounded

Recruiters are attracted to “all-around” people. Consultants are known to be well-rounded as they can crunch numbers and at the same time have excellent communication skills.

Display Your Leadership Skills

Consultants are impressed with people who are like them – have the ability to take responsibility, and can take risks and rise to a challenge. Remember that leadership is not just about managing people. So being able to display your leadership abilities is key to securing an offer.

Impress Them with Your Ability to Think and Present

They may ask for your own analysis of a case and then ask you to make a quick PowerPoint presentation. Use such opportunities to showcase your critical thinking and presentation skills.

Stay Focused

Summer internship can be hard in terms of you might get distracted with parties and other summer activities outside the firm. Remember to keep your eyes on the prize.

Build a Strong Relationship with Your Team Leader and Other Workers

In general, just be bright, reliable and friendly in order to impress the people around you. Remember that the people you work with, particularly the team leaders, may have a big influence on your return offer prospects.

Ask for Feedback

Another way to build rapport with staff and managers is to ask for feedback. Also, asking for feedback will not only help you improve your skills, but will show your genuine passion for the job.

Impress the lead partners. There are usually several partners who are closely involved with your project and client.

Through the summer internship, you’ll have many opportunities to impress your target firm. Make your every effort count! Get in front of them.

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