alee228

Hi Jason,

Your approach sounds fine.

For this question, I think it is interesting, and helpful, to note that stealing involves two parts: (1) the act, and (2) the intention.

In Australia, theft is broadly defined as "taking with the intention to permanently deprive". So, if you take a pen home from work at night, and have an intention to bring it back to work the next day, then this is not stealing.

Have you ever stolen pens from work?

This is an interesting one.

If you say "no", you are almost certainly lying.

If you say "yes", then you are admitting to stealing property from work, which shows that you lack the social awareness required to know that "stealing" and "admitting to stealing" are both actions which demonstrate anti-social behaviour.

How would you answer this one?

A nice HBR article about the value of hiring people with passion, and finding passion for your own work.

To read the article: click here.

Hey Jason,

I haven't seen Moneyball, but I loved the article!

Here are my favourite quotes:

Don't listen too closely to those that have deep industry expertise and are emotionally attached to the status quo — it's possible that they're part of the problem.

Playing the old way when you're at a disadvantage is a sure-fire way to lose.

In the early days, hire athletes. People with raw talent and a propensity to get things done. Don't be resistent to recruiting people that are early in their careers. You're looking for arbitrage opportunities.

You can't maintain two feet firmly planted on the ground and take the leap of faith.

Hey Andy,

Thanks for joining the Consulting Forum!

I take it that you're looking to find a role in a consulting firm. Are you looking at strategy consulting in particular? As you have probably gathered, the field of "consulting" is very broad and so there are lots of different kinds of consultants.

I am not an expert on enviro consulting firms. However, I did create a list of Sustainability Consulting Firms which may be helpful: http://www.tomspencer.com.au/2008/11/23/sustainability-consulting-firms-in-australia-csr/

As for the application process, recruitment for Business Analyst positions in Australia are generally in Feb-March for positions starting in the following year (ie. you interview for a position in March 2012 for a position in March 2013) - though once they want you, they are often flexible on the start date.

What do you mean by upper education? Do you mean Masters? If you are a recent graduate of a top NZ University and your marks are strong then that will put in you in a good position to get interviews at top consulting firms. And, by the way, engineering is a really great degree to have done if you're interested in strategy consulting because it teaches you to solve problems and think in a structured way.

If you want to apply to strategy consulting firms in Australia, you can take a look at the list I put together here: http://www.tomspencer.com.au/2008/07/27/strategy-consulting-and-business-consulting-firms-list-australia/

Does that help?

Hi MSM,

Over the last 4 years, I have prepared guides for a number of analysis frameworks.

To see the full list: click here.

Hope that gives you a good starting point.

Let us know how you go!

Cheers,
Tom

Hi MSM,

Welcome to the Consulting Forum!

What kind of business research are you doing?

Cheers,
Tom

Hey Lamont,

Welcome to the Consulting Forum!

Here's another MC joke for you:

The Oldest Profession...

A medical doctor, an engineer, and a management consultant were arguing about what was the oldest profession in the world.

The doctor started… "Well, in the Bible, it says that God created Eve from a rib taken from Adam’s body. This must have required surgery, and so I can claim with a high degree of confidence that mine is the oldest profession in the world."

The engineer responded, and said, "But earlier in the book of Genesis, it states that God created the order of the heavens and the earth from out of the chaos. This was the first and certainly the most impressive application of civil engineering. Therefore, dear doctor, you are wrong: mine is surely the oldest profession in the world."

The management consultant leaned back in his chair, smiled, and then said confidently, "Ah, but who do you think created the chaos?"

Hi Bill,

Thanks for joining the Consulting Forum!

I think you're asking two related questions:
1. do consulting firms have a rigid hiring process?, and
2. is it possible to delay your start time? For example, apply in January with the intention of starting in July-August

I'll give you my thoughts below, and I'd be interested to hear from others.

1. Hiring process

Each consulting firm will have a slightly different hiring policy. However, take McKinsey as an example.

I understand McKinsey hires in two different ways:

1. The milk round - They have an annual milk round. That is, they have a formal hiring process targetted at top students from top universities.
2. Experienced hires - they also interview experienced hires, and I understand that these interviews are done in batches. So, if you apply today and they like your application, they will likely hold your application until they have enough suitable applicants to do a batch of interviews. However, it is worth noting that if you apply as an experienced hire during the milk round then your application (even if quite impressive) may fall through the cracks.

2. Delayed starting time

If your intention is to delay your starting time, then I would suggest that you hold this information to yourself until you get an offer. Interviewing with consulting firms is very competitive so your primary objective should be to get offers. If you get an offer, then you have bargaining power to negotiate a suitable start date.

Hope that helps.

Cheers,
Tom

bharath,

Welcome to the Consulting Forum!

Obtaining a role with a management consulting firm is difficult at the best of times.

Your question is a good one, where are the entry points? How do you get your foot in the door?

The specific types of roles offered by each firm will differ slightly, so you should check out individual firm websites.

Consulting firms generally offer opportunities for experienced professionals (e.g. see the McKinsey website).

There would seem to be three possible entry points:

1. Consulting Role: Consulting firms generally offer opportunities for experienced professionals to work as generalist consultants on in a specific practice. For example, note that McKinsey has a functional practice that focuses on marketing and sales.
2. Research roles: You could use your previous experience to apply for a research role. This would involve providing knowledge and research to support consultants who are working on client projects.
3. Support roles: This is probably not what you are looking for. However, for completeness, note that consulting firms do also hire support staff (e.g. IT, HR, admin, professional development).

Does that help?

In his new book Thinking, Fast and Slow, Kahneman takes us on a journey of the mind and explains the two systems that drive the way we think.

System 1 is fast, intuitive, and emotional, while System 2 is slower, more deliberate, and more logical.

Kahneman looks at the impact of loss aversion and overconfidence on corporate strategies, the difficulty of predicting what will make us happy, the challenges of properly framing risks, and the effect of cognitive biases on our ability to make investment decisions.

The flaws in our thinking can be understood by appreciating how the two systems of the mind work together to shape our decisions.

Here is some insanely helpful information about the McKinsey interview process, as well as preparation materials. This information was provided by a McKinsey Recruitment Coordinator.

The round one interview consists of the McKinsey Problem Solving Test, followed by two interviews.

1. Preparing for the McKinsey Problem Solving Test

The McKinsey Problem Solving Test is a 60-minute, 26-question multiple choice test designed to help McKinsey learn about your ability to think through the types of business problems McKinsey consultants face. You will be presented with three scenarios based on actual McKinsey client cases. The exercise should also provide you with a better idea of what consultants do. You do not need to bring anything with you for the test (calculators are not permitted).

To help you prepare, please find attached an official McKinsey practice test, along with a coaching guide.

2. Preparing for your interviews

Interviews at McKinsey are challenging. As with any challenging objective, good preparation is essential. McKinsey encourages applicants to spend as much time as possible preparing for interviews so that you can demonstrate your best qualities on the day. In particular, McKinsey strongly recommends that you follow these preparation guidelines:

1. Visit the McKinsey website where you will find a comprehensive set of support materials.
2. Watch the online video carefully, as many times as you need to. This represents the type of interview that you will have with McKinsey, and contains plenty of tips on how to approach the discussion with the McKinsey interviewers.
3. Prepare for the experience interview: Think carefully about situations you have been in where you have needed to use the types of skills described in the video. These may or may not be the types of experiences you have outlined on your CV. Be prepared to discuss these experiences in great detail with your interviewer, and try to focus on your specific contribution and actions when describing them. McKinsey recommends that that you discuss situations where you felt challenged and stretched, as these are the ones that will demonstrate your true potential.
4. Prepare for the case interview: The case studies McKinsey discusses with you reflect the type of work its consultants do. Practice some case study examples. Take time to think through your answers and challenge yourself to develop an organized and structured response to the questions. If you are not confident about your numerical ability, practice some basic numerical problems, as you are likely to be asked about numbers and data in the interview.

3. During the interviews

You will most likely meet with two McKinsey consultants, each of whom will discuss your past experiences and a case study with you. There will also be time for you to ask the consultants questions regarding McKinsey or regarding your career choices more broadly.

http://www.youtube.com/watch?v=_bmodEjtvnQ

http://www.youtube.com/watch?v=gRUvbrOtd-c

Clayton Christensen is the author of The Innovator's Dilemma.

If the innovation in question is one that will help the leaders in the industry make better products they can sell for better profits to their best customers, in fact, I will always bet that the leaders will win that and if an entrant comes in they will get killed. But when a disruption comes in at the bottom of the market I will always bet against the leaders.
~ Clayton Christensen

Hi all,

I recently spoke with someone who had dealt with NERA Economic Consulting in Sydney. The firm is strong internationally (link: click here), but based on what I learned they are very small in Sydney and struggling with internal morale and with building their business in Australia.

This is of course only hearsay, but I would be interested to know whether anyone has information which would corroborate this view.

Best regards,
Tom

Rory,

Welcome to the Consulting Forum!

~ Tom