Ace a Consulting Verbal Reasoning Test

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Verbal Reasoning Test

If you are great at taking tests, you may not feel too concerned about the verbal reasoning assessment common to some management consulting firms. However, even great test takers may find that they need to figure out new strategies. Read more about verbal reasoning tests in consulting…

First, for American visitors to ConsultingFact.com, the questions do not resemble those of the SAT, ACT or even GMAT. Business management majors who have seen the analytical sections of the law school application test (LSAT), may understand better. For others, it is more like a hybrid of the reading comprehension of lower-level standardized tests combined with the time crunch of a Wonderlic exam, tests that require responses to 50 questions in just 12 minutes.

Breaking Down The Verbal Reasoning Exam

There are generally a few relatively short passages densely filled with data. Roughly three to four questions follow each reading, with the options of selecting whether a given statement is true, false or unable to be verified (insufficient information) given the data offered in the passage.

Everyone tests differently, but there are a few strategies that may help some work more quickly through the questions, allowing more time to analyze the information provided. They include the following two:

1) Choosing not to read the passage first. This can be difficult to do, but instead of reading the passage, allow your eyes to travel over the passage and note where numbers, percentages and statistically rare words are. These can include medical conditions, legal terminology and others. Then, using the vague mental map, you’ve prepared, read the question and follow the map to where the information is likely located.

2) Skim and paraphrase. Quickly glean the main point of the passage and build a structure of what the succeeding sentences provide (counterpoints, proofs, opposing viewpoints). When you read each question, immediately re-phrase it into a statement that you would make, and then set it against the mental outline you made of the passage.

Comfort Is Critical On Test Day

There are other options, and using a library to find LSAT or other test prep books may also aid you. Keep in mind that the key to being successful on the verbal reasoning exam is becoming comfortable. It does not matter which strategy you use, or even if you use the brute force method of reading the passage each time you have a question. The longer you take, the less time you have to analyze, true, but the biggest factor is comfort. That means picking a strategy that you can call upon no matter how stressed you are the day of the tests.

We’ll continue to cover other exams that are common parts of management consulting application processes. But for now, take a deep breath and relax. That should probably have been tip number one.

Resources

If you’re looking for free online practice tests, you may consider:

AssessmentDay tests (Be sure to scroll down to “free sample verbal reasoning test”)
TestPrepPractice tests

If you want more tips on how to prepare for consulting tests,then download our free guide. ConsultingFact.com offers guides for resumes, cover letters, case interviews, case frameworks, and other material that will help you land a consulting job.

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Consulting Firm Profile: Bain & Company

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Bain

Bain & Company is a management consulting firm that started late, but began operations with a focus on one goal: demonstrable objectives for clients to achieve in order to make clear gains in either revenue or cost cutting. The culture is fast-paced and the principals eschew the idea that strategy is more important than implementation. Read more…

Life at Bain

That means that those with strong conceptual thinking will do just fine, according to younger associates, but they will need to ensure that they can find concrete direction with their analysis. Others have noted that the best applicant, whether entry-level or in the middle of one’s career, will find that humility is a career attribute of all management consultant applicants that are successful at Bain.

And in fact, applicants should be expected to take the verbal reasoning and case study sections of an interview seriously, with the ability to translate their analysis to specific actionable items, even at the early stages of the development of a strategic change. These may apply to any one of the Bain & Company specialties, including the normal management and growth and change strategies in addition to information technology and supply chain improvements.

Areas of Focus

Like competing management consultant firms Boston Consulting Group, McKinsey and Booz, Bain & Company offers services in each of their specialties to a number of different industry sectors. Among the many covered by the company are the automotive, defense, media, retail and healthcare sectors. Since the culture focuses on quick and demonstrable results, prospective management consultants can expect frequent travel to be on-site at client locations.

Bain & Company Background

Bain & Company was founded by Boston Consulting Group alumni like Bill Bain and other former management consultants who figured that new strategies and ideas would help drive business clients forward. While the company no longer focuses on a single client per sector, management consultants at Bain still keep in mind the old selling points from the 1970s: the ability to increase stock prices and raise revenue. A crisis in the early 1990s led to significant restructuring that led to more buy-in at the general partner level and also affords more flexibility during financial downturns.

Moving On and Moving Away

Those who choose to stay with Bain & Company will also find that there are demonstrable differences between positions, and growth will mean taking on additional responsibilities. Keep in mind that many at Bain note that the management consultants will be cross-trained in a number of industries, and while that leads to greater versatility, it can come at the expense of developing subject matter expertise. Some junior-level employees also note that the gap between the first and second levels can be somewhat high.

However, Bain directors understand, just like other management consulting firms, that some analysts and consultants will choose to move on to other firms with their varied expertise and skill set. In that case, Bain can offer the prestige that few other firms can match. In fact, in 2009 and 2010, the firm had the best name recognition according to several external reviews. That can open doors even in industries where one doesn’t have much experience while at Bain.

Facts

Founded: 1973
Offices: 42
Central Locations: North America, Western Europe, India, East Asia
Headquarters: Boston, MA
Employees: 4,800
Website: https:/www.bain.com/

If you want more tips on how to prepare for consulting interviews,then download a free guide. ConsultingFact.com offers guides for resumes, cover letters, case interviews, case frameworks, and othermaterial that will help you land a consulting job.

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Use Frameworks to Solve Consulting Case Studies

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Case Interview

Case interviews are the most challenging part in the recruiting process at any consulting firm. Many people are looking for advice on how to handle the interviews.

We have just release our new guide – guide to Case Interview Frameworks. Learn which frameworks to use and how to use them. Memorizing these frameworks will make it much easier for you to handle the interview. Read more about the Guide to Case Interview Frameworks.

The guide will help you save time so you can focus on practicing business cases. This is the only way you can become really good at solving these cases. The theoretical university/college frameworks are usually not sufficient in solving such cases. Consulting firms look for pragmatic solutions to common business problems, so your frameworks should be adjusted to that.

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Use Networking to Land a Consulting Job

Consulting Firm Profile: Booz & Company

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Booz & Company may have spun off it’s government consultants, but it still has a team-centric philosophy that means that new hires are likely to find themselves solving different problems, but all in one industry. Historically, the company focused on the Great Lakes region of the United States, including the automotive industry.

Since then, they have branched out to nearly as many sectors as a top-10 firm could seek to cover, again outside of the public sector to the extent they once did. While they clearly have a goal to serve as many industries as their teams have expertise to cover, their biggest claim to fame is to help firms deal with “discontinuities,” as Booz & Co. describes it.

These include moving oil companies into renewable energy projects or dealing with aspects of regulation and deregulation that can call for wholesale organizational changes. The firm and its management consultants argue that the industry specific knowledge they provide helps companies by quickly applying best practices as they have already been used in other companies and developing new ones when needed.

The pace is fast for entry-level and even mid-career management consultants. Clients’ projects are generally only assigned for six months so that there is no possibility for stagnation. Anonymous employees argue that the rapid movement also helps promote rapid promotion for the right candidates.

At the same time, it also doesn’t mean that there are very many times to take a breather or ask for help in understanding new or difficult strategies. The reliance on an industry-centric strategy in building teams also develops expertise, but means that employee reductions can match the growth and decline of their areas of coverage.

Still, the number of offices in far flung locations makes the prospect of travel possible, especially in sectors like pharmaceuticals with a global footprint. Those who join teams that cover a larger footprint in terms of regions can expect a concomitant increase in the amount of time that they travel.

Keep in mind that while there are industry-specific teams, there are also subject matter experts on the senior staff in the following functional areas: information technology, organization and strategic leadership, as well as operations management.

Many employees argue that Booz & Company offers a great environment to get started, thanks to the intelligence of co-workers and the global footprint. The name brand value doesn’t hurt either. Where things start to get a little contentious is the amount of travel, and the decision of the company to remove it’s government consulting teams which some argue diluted the brand.

Company Facts

Founded: 1914
Offices: 61
Central Locations: Europe, United States, Australia
Headquarters: New York, NY
Employees: 3,300
Major Developments: Devolution of government consulting teams when firm was Booz Allen Hamilton (2008)
Website: CLOSED

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Top 10 Management Consulting Jargon Terms

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Consulting Jargon Terms

Do you speak the management consulting world’s language? You would not be far removed from calling it a separate dialect of English, considering it has its own vocabulary and changes the use of verbs and nouns in some cases. Read more about this special language…

Don’t fret, though. The words can make some sense if you know where they come from, and we’ve made a list of 10 of our favorites. You can also find out some more specific terms by using thesis help online:

Bandwidth

You have a certain amount of energy, of skills and time that you can bring to bear on a project. Bandwidth is an all-encompassing term that combines each aspect and sounds more professional than, “I don’t have the time nor the energy to do this.

Best Practices

Whether you’re talking about a business sector, your client company or in general, best practices are the methods and means that have the most benefit. However, be careful in using absolutes if you plan on trying a new method: it may become a best practice, but if you call it one it’s not true.

Close the Loop

In meetings, closing the loop means finishing an item on the agenda or a topic of discussion with everyone in agreement. It can also be used to describe an item still to be done.

Core Competencies

If you had 15 seconds to describe a company’s best attributes, you would come up with its core competencies. Many consultants assigned to struggling firms recommend focusing time and resources on these areas.

Leverage

Synonymous with use, leverage is a verb that may be frequently included in reports to give a sense of strength or careful thinking to the reassignment of resources. Should generally be added to documents when a management consultant feels that the task is BEST completed using the proposed method.

Ping

Taken from the computer and networking world, to ping someone means to contact them on a matter. Generally it is done with email, but the term can be used no matter the media.

Pushback

Pushback is any real or anticipated issues that might be raised by the executives at a client company concerning a consultant’s analysis or proposed solution.

Scope Creep

A management consultant is brought in to find out why a company’s new marketing strategy is affecting workplace productivity. Scope creep sets in when they find out that they’re also responsible for assisting on writing policies and other tasks not initially included in the project

Takeaway

The takeaway is the set of key points that the audience should understand by the end of a presentation or meeting. Management consultants who don’t ensure their clients get the “takeaway” may not be successful.

Wetware

The human element. It may refer to the minds of an organization, the human resources available to a company in general, or simply a consultant’s mind and thought process. Can be difficult to figure out which without context.

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Top 10 Management Consulting Firms

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Management Consulting Firms

We’ve done some research and agree with outside sources that the following are some of the top firms by size or influence in the industry. However, we’re loathe to assume that one firm or the other is the best because the perfect one is the management consulting firm that best fits your needs and professional development goals. Read more…

Note: Firms conducting solely management consulting services will have much lower employee numbers than those involved in finance and accounting, but we are including total firm numbers for comparison.

Bain & Company

Headquarters: Boston, MA
Employees: 4,800
Offices: 41
Sectors: Automotive; Chemicals; Consumer Products; Energy & Utilities; Financial Services; Healthcare; Industrial Machinery; Media; Mining; Nonprofit, Public Sector & Higher Education; Retail; Technology; Telecommunications; Transportation Services
Practice Areas: Change Management; Corporate Renewal; Cost & Supply Chain Management; Customer Strategy & Marketing; IT; Mergers & Acquisitions; Organization; Performance Improvement; Private Equity; Strategy
Website: https://www.bain.com

Booz & Company

Headquarters: New York, NY
Employees: 3,300
Offices: 61
Sectors: Aerospace & Defense; Automotive; Chemicals; Consumer Products; Energy & Utilities; Financial Services; Health; Industrials; Media & Entertainment; Oil & Gas; Private Equity; Public Sector; Retail; Technology; Telecommunications; Transportation
Practice Areas: Corporate Finance; Information Technology; Marketing & Sales; Mergers & Restructuring; Operations & Logistics; Organization & Change; Product & Service Innovation; Strategy & Leadership
Website: CLOSED

The Boston Consulting Group, Inc.

Headquarters: Boston, MA
Employees: 4,500
Offices: 69
Sectors: Automotive; Biopharmaceuticals; Consumer Products; Energy & Environment; Engineered Products & Project Business; Financial Institutions; Health Care Payers & Providers; Insurance; Media & Entertainment; Medical Devices & Technology; Metals & Mining; Private Equity; Process Industries; Public Sector; Retail; Technology & Software; Telecommunications; Transportation, Travel & Tourism
Practice Areas: Corporate Development; Corporate Finance; Globalization; Growth; Information Technology; Innovation; Managing in a Slow-Growth Economy; Marketing & Sales; Branding & Communication; Consumer Insight; Go-to-Market Strategy; Marketing; Sales & Channels; Pricing; Operations; Organization; Postmerger Integration; Strategy; Sustainability; Transformation; Turnaround
Website: https://www.bcg.com

Deloitte Consulting LLP

Headquarters: New York, NY
Employees: 42,367
Offices: 50
Practice Areas: Human Capital; Strategy & Operations; Technology
Sectors: Aerospace & Defense; Automotive; Banking & Securities; Consumer Products; Federal Government; Halth Care Providers; Health Plans; Insurance; Life Sciences; Media & Entertainment; Oil & Gas; Power & Utilities; Private Equity, Hedge Funds & Mutual Funds; Process & Industrial Products; Real Estate; Retail; State Government; Technology; Telecom; Tourism, Hospitality & Leisure
Website: https://www.deloitte.com/

Ernst & Young LLP

Headquarters: New York, NY
Employees: 40,732
Offices: 140
Practice Areas: Advisory; Assurance; Specialty Services; Strategic Growth Markets; Tax; Transactions
Sectors: Asset Management; Automotive; Banking & Capital Markets; Consumer Products; Government & Public Sector; Insurance; Life Sciences; Media & Entertainment; Mining & Metals; Oil & Gas; Power & Utilities; Provider Care; Real Estate; Retail & Wholesale; Technology; Telecommunications
Website: https://www.ey.com

McKinsey & Company

Headquarters: New York, NY
Employees: 16,000
Offices: 95
Sectors: Automotive & Assembly; Chemicals; Consumer Packaged Goods; Electric Power & Natural Gas; Financial Services; High Tech; Healthcare Payor and Provider; Media & Entertainment; Metals & Mining Retail; Oil & Gas; Pharmaceuticals & Medical Products; Private Equity; Public Sector; Pulp &Paper/Forest Products; Social Sector; Telecommunications; Travel; Transport & Logistics
Practice Areas: Business Technology Office; Corporate Finance; Marketing & Sales; Operations; Organization; Risk; Strategy
Website: https://www.mckinsey.com/

Mercer LLC

Headquarters: New York, NY
Employees: 18,900
Offices: 150
Practice Areas: Retirement, risk & finance consulting; Health & benefits; Human capital; Surveys & products; Workforce communication & change; Investment consulting; Investment management; Outsourcing; Mergers & acquisitions
Website: https://www.mercer.com/

Monitor Deloitte

Headquarters: Cambridge, MA
Employees: 1,600
Offices: 28
Sectors: Aerospace and Defense; Automotive; Consumer Goods; Energy and Utilities; Financial Services; Government; Industrial Products; IT and Telecom; Media and Advertising; Nonprofit and Social Sector; Pharmaceuticals, Life Sciences, and Healthcare; Private Equity; Professional Services; Retail; Tourism and Travel
Practice Areas: Advisory Services; Capability-Building Services; Capital Services
Website: http://www.monitor.com

Oliver Wyman

Headquarters: New York, NY
Employees: 3,300
Offices: 40
Sectors: Automotive; Aviation, Aerospace and Defense; Communications, Media and Technology; Energy; Financial Services; Health and Life Sciences; Industrial Products; Retail and Consumer Products; Surface Transportation
Practice Areas: Actuarial, Business Transformation, Corporate Finance and Restructuring, Delta, Finance and Risk, Leadership Development, Marketing and Sales, Operations and Technology, Strategy
Website: https://www.oliverwyman.com

PricewaterhouseCoopers LLP

Headquarters: New York, NY
Employees: 39,142
Offices: 74
Sectors: Aerospace & defense; Asset management; Automotive; Banking & capital markets; Business & professional services; Chemicals; Communications; Energy; Engineering & construction; Entertainment & media; Financial services; Forest, paper & packaging; Health industries; Hospitality & leisure; Industrial manufacturing; Industrial products; Insurance; Metals; Pharmaceuticals & life science; Public sector; Real estate; Retail & consumer; Technology; Transportation & logistics; Utilities
Practice Areas: Capital projects & infrastructure; Corporate finance; Deals; Finance; Forensic services; Operations; People & change; Risk management; Security; Technology
Website: https://www.pwc.com/

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Major or Boutique Consulting Firms

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Consulting Firms

We were talking with a friend of ours who works as a copywriter in the advertising industry. He works in a small boutique that principally does online messaging for the travel and leisure sector. As we spent time, we realized how his choice and our choice in careers varied by more than just the industries we chose. Read more…

That’s because although he became a creative executive and we went into management consulting, the structure of the firms where we worked couldn’t be more different. As someone who had a background in the small, liberal arts colleges in America, he saw the best fit in a small shop that targeted his interests. And that’s one option for management consultants as well.

The Boutique Firms and What You Get

At a smaller management consulting firm, you’re likely to find that the companies you focus on represent just one or two related industries. Furthermore, you’ll be solving specific problems related to one portion of their business activities.

On the bright side, you’ll also be working with top-level executives and in many cases be one of only a few people working on a given project. This means that you are making contacts with C-level thought leaders and will often be asked for input on many aspects of a project.

At the same time, you are less likely to be working on a variety of projects. Like our copywriter friend, you’ll be focusing on one industry or one management focus during the course of your employment.

The Big Names and Your Level of Involvement

A big consulting firm like BCG, McKinsey or Bain will deal with the management and business issues of a variety of top firms around the world. You will likely be one member on a larger team that attempts to deal with high-level concerns and promote system change.

This means that the number of people you will come in contact with will be much larger and span various sectors. At the same time, you might be working on very specific aspects of a project and not necessarily be as involved in big picture aspects of the consulting process. Your mileage will of course vary by both office and company.

Where Do You Go from Here?

Management consulting may be a lifelong pursuit for you, or it may be one way for you to gain experience with how different firms succeed given a set of variables, needs and capital. To delve briefly into what options both sides present can be a bit misleading, but we’ll try.

The gist is that with a larger firm, you have access to more resources across more industries than you would in a smaller boutique’s office. That can mean that you could transfer to another satellite office to satisfy your wanderlust, or leverage a network of co-workers to focus on a specific industry if you’re at one of the leading management consulting firms.

On the other hand, a boutique firm will gift you a contact list of some of the top names in a given industry, where you’ll be known more quickly than you might if you’re part of a larger group.

How you pick depends on what your goals are for your career, and what atmosphere suits you best.

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Use Networking to Land a Consulting Job

Written by . Posted in Consulting Application

Networking

It used to be that the Rolodex was the sign of prestige for an ad agency executive, newspaper reporter and especially a management consultant. The days of the paper-based organizer are over, but not the importance of a list of contacts, no matter your level of experience in the management consulting industry. Read more about networking…

Starting from Scratch

Let’s say you are making a mid-career correction and want to move into management consulting. You could be about to graduate from university. Either way, the number of people you know with jobs in the management consulting industry is likely to be slight, if not zero.

That is not a problem. If you are on LinkedIn or Facebook or any other networking site, do searches for management consulting firms. You’re likely to find that within one or two degrees of separation, there are consultants. If you are still in school, consider asking your career counselor for alumni in the sector.

Making Every Meeting Count

Whether you are making a cold e-mail to someone who is a friend of a friend, or you research local career fairs and meet-ups from top firms, you don’t want to waste your time.

In fact, you should always open with your name, why you’re making the contact and what makes you interested in the field. This should not take more than two sentences, at a maximum.

If you’ve ever worked in a people-oriented position, you may already know this: The best way to get someone to open up is to ask them to give you their expert opinion. Everyone wants to be respected for what they’ve accomplished, and it eases the process.

Freelance?

One interesting strategy that may work for people who have a degree in business management or a related field but do not yet have a full-time consulting job is to consider going freelance during the job search.

Look for start-up firms on your favorite job search engine, as well as on online freelance bidding sites. Offer to use your skills and experience to solve a short-term problem. This will give you a practical case study to use in interviews, a reference or even a possibility of connections to other consultants.

The Bottom Line

Whichever path you decide to take, you should make a point of enriching your list of contacts, proving your experience and leveraging the experience of others are all key parts of the job search. Failing to utilize these resources is as egregious an error as sending a poorly-edited cover letter or resume to the firm where you want to start or continue your career.

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Ace a Consulting Firm’s Written Test

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calculator

There are a number of factors that affect your candidacy when you apply to a top management consulting firm. While some worry about their ability to think on their feet during case interviews, others feel like they are bad test takers. Read more about written tests…

That makes the written assessment, which is pretty similar to the GMAT exam used by business schools for admissions purposes, a major concern. It need not be, and we’ll tell you why. First, we need to figure out what kind of test-taker you are.

A Quick Personality Test

You should know by now whether you tense up when you hear the word test or whether it is second nature for you to do well on any standardized exam.

It functions as a sliding scale for the strategies we’ll talk about. Over-studying can be just as detrimental for someone who get nauseous on test day as a lack of preparation can be for the relaxed test take. Either way, expect to need about four weeks to prepare.

Start with the GMAT

The GMAT is the standard for business schools, and it provides a useful metric for management consulting candidates. There are a number of free practice exams that you can take online; we recommend taking one from the official site, here: http://www.mba.com/mba/thegmat/downloadfreetestpreparationsoftware.

You’ll note that there are analytical writing sections, quantitative reasoning questions, data sufficiency assessments and a verbal section. It’s important to figure out what areas are your weakness with a practice exam.

The 70/30 Rule

If you are not the best at grammar, the sentence correction and verbal skills section may be your downfall. Liberal arts majors might struggle with the data sufficiency sections. Each assessment candidate is different.

What you do need to do is then create a self-study program that places a heavy emphasis on the areas where you struggle. We recommend spending about 70 percent of the time you have budgeted on the sections where you scored the lowest. At the same time, you don’t want to get rusty in the other sections, so use the remainder of your time to maintain your acumen.

Alternative Study Tips

Practicing for a test you’re not actually taking, the GMAT, could lead to problems depending on the requirements of the management consulting firm where you’re applying. Instead, consider branching out into other study methods. If you want help with data sufficiency questions, using the LSAT’s analytical reasoning section for a bit of cross-training. The logic games questions will develop your ability to fill in the gaps with information.

Make a strategy that fills out your skills by augmenting your weakest areas. Develop a plan that targets how you take the assessment. Then get a decent night’s rest and ace the examination!

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Consulting Job with a State School Degree

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State School

We get this question a lot: “Is it possible to get a consulting job with a state school degree?” The short answer, and to put your mind at ease, is yes. Read more about consulting jobs with state school degrees…

You can get a management consulting job with a degree from any school. What we want to explain is that the process may be different as you go about finding a career.

Differences in Networking Abilities

We’ve written a whole article on networking to get the best management consulting position for your experience and education. If you did not attend an Ivy or top-20 institution in your country, you may feel like you’ve missed the boat.

While top management consulting firms do target upper echelon schools, you can still find your way into the field. Rather than looking for recruitment events at your university, you may instead want to contact the regional offices of firms you’re looking to target.

Ask for local recruiting events, and leave your name and express your interest in the position. You need to get your name out a bit more frequently then you would otherwise.

Colleagues and Professors

Again, you are looking to dig a little deeper into your resources than you might otherwise to find a management consulting position. Ask around your business management and administration departments if you are still in school and ask for times to speak with professors. They may have contacts in the industry no matter what college they work at.

Another example for those looking to transition from another career is to ask friends and relatives. You may also wish to use your college’s alumni association or fraternal organizations for people who may be in the field.

Standing Out in Your Application

Since your diploma may have a school’s name that isn’t immediately recognizable, you’ll want to pay extra attention to your management consulting job application materials. New graduates will want to focus on high-level leadership in extra-curricular or internship applications. Intern prospects will want to do the same thing, as well as focus on coursework in business concepts and other key curricula.

Mid-career switchers and others will need to re-write the resume. Our resume and cover letter guide is a great resource for the phrases and competencies that will make recruiters sit up and take notice. Even if you don’t, you do need to make sure that your resume only includes as much information about a non-business position as relates to management consulting.

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