Consulting Resource Guide

Overview of Consulting
Consulting is both a function and an industry. As a function, consulting is the process of advising clients
on their organizational and strategic challenges and opportunities and recommending strategies to meet
their goals. The industry encompasses a broad spectrum of opportunities, from global strategy firms to
individual contracting. Some firms serve clients in a wide range of industries and across sectors. Large,
multi-issue strategy-focused firms include McKinsey & Company, Boston Consulting Group, Bain &
Company and Deloitte. Some consulting firms specialize in a particular industry or policy area (health
care, education, telecommunications, economic development, etc.) or type of support (strategy devel-
opment, human capital management, etc.). The term “consulting” also refers to organizations that
serve as contractors to government or non-governmental organizations. Examples include Booz Allen
Hamilton, Censeo Consulting, Chemonics, J.E. Austin Associates, Inc., and John Snow, Inc.

Consulting projects typically proceed through four steps: 1) defining the parameters of the project and
issues and questions to be answered, 2) gathering data and performing analysis, 3) making recommen-
dations and, in some instances, 4) playing a role in the implementation of the recommendations. A hap-
py consultant is one who enjoys repeating this process and the challenge of moving from topic to topic
with each client.

If you are considering a career in consulting, first, determine whether you would enjoy the role con-
sultants play and, second, whether you want to apply consulting skills to a particular issue area in a spe-
cialized firm or to a broad range of topics as a generalist in a large firm.

Exploring Interest in Consulting

1. Research the industry and particular firms.
a) Read general publications regularly such as The Wall Street Journal, the Financial Times, The New
York Times, and The Economist to build and maintain your knowledge of the current issues and
context within which clients operate. McKinsey Quarterly and Harvard Business Review are also valu-
able tools.
b) Browsing JACK is also helpful in identifying consulting organizations that have particular inter-
est in the skills and experience offered by HKS students and alumni.

2. Seek out knowledgeable people, including classmates who have worked in consulting, alumni, and
prospective employers, to hear their perspectives and recommendations.

3. Develop Your Consulting Profile

a) Take case-based courses and/or courses which incorporate consulting projects as part of the
course requirements. If you enjoy case-based courses, it may be a good indication that you will
enjoy consulting.
b) For MPP students, think strategically about your Policy Analysis Exercise (PAE). Your PAE can
be an effective tool for developing your consulting skills and helping you clarify your interest in
the function. Choose your topic based on your policy interest, and select a client who may be a
potential employer, effective contact, and/or reference.

OCA Consulting Guide: August 2014

 c) Participate in student groups and other activities that give you the opportunity to develop
skills, particularly in management and leadership. For example, in the recent past, HKS stu-
dents formed a Harvard International Consulting Organization which provided students with the
opportunity to work as volunteers on international development consulting projects. Student
groups vary from year-to-year; a list will be available in the fall.
d) Review case preparation books and complete practice cases. Practice cases frequently with
others; consider joining the Harvard Graduate Consulting Club where you can practice with
other interested students. For more information, see Recommended Reading, Helpful Firm Web-
sites, and Other Resources sections at the end of this guide.
e) If you need to improve your GRE or GMAT quantitative analysis score to be a competitive
candidate, retake the test(s). A firm may, at the time of application, require your scores.
f) Attend OCA-and Harvard-sponsored consulting events.
g) Based on your research and networking, decide whether the role of generalist, specialist, or
both attracts you. Next, develop a list of target organizations and set priorities for your search.
If you are considering a particular location, familiarize yourself with the types of clients your
target firms serve in that region to ensure there is a good match with your interests,
knowledge areas, and skills. Outside the U.S., firms often strongly prefer HKS candidates
from that country or region. Pay close attention to deadlines as many for full-time
positions are in September.

OCA Consulting Events*

 Consulting employer fairs in September
 Employer briefings at HKS and across campus
 Student Consulting Panel, an opportunity to learn about the work from students who
have worked in the industry
 Case Interview Preparation session

*See OCA Calendar on KNet for specific dates and times for all consulting events.

Skills Required
The skills required in consulting align well with the HKS curriculum and the fundamental principles
of analysis, management, and leadership. Be prepared to discuss the synergies when presenting the
value of an HKS degree in interviews. The profile of a good consultant includes:

Intellectual and Analytical

 Passion for consulting and problem-solving; understanding of the industry and the work
of consultants
 Interest in leading-edge framework and concept development and/or knowledge of con-
tent area specific to firm’s practice area
 Ability to synthesize data
 Interest in working in a client-service organization
 Strength in quantitative analysis and concepts

OCA Consulting Guide: August 2014

 Management
 Project management
 Team-orientation, ability to lead, but also willingness to collaborate
 Strong presentation and communication skills
 Listening skills
 Marketing and sales skills
 Ability to work under pressure and to meet deadlines
 Energy and resilience for extensive travel and long working hours

Application Timeline and Process

Many firms hire for full-time opportunities in the fall and for internships in late fall/early winter.
Please note that firms that visit campus may visit only once; those considering internships should
attend early fall briefings. Watch JACK, KNet, and firm websites for opportunities, deadlines, and
processes.

Many large strategy consulting firms offer formalized summer internship programs and utilize the
programs to test and select a large percentage of their full-time hires. Some firms only recruit full-
time hires through their internship class. In smaller consulting firms, summer internships may not
be a standard part of the business model, but can often be arranged on an ad hoc basis.

Typically, a candidate may have up to three rounds of interviews with a firm before receiving an
offer. Representatives from the regional office for which the candidate is being considered will par-
ticipate in the interview process and /or finalists will be flown out to that office in the final stage.

Watch for employer deadlines, which are as early as mid-September!

Preparation
Develop a targeted resume for consulting. The content should highlight relevant skills and experi-
ence, and quantify outcomes where possible. Include academic distinctions, and/or GPA, GMAT,
GRE score(s). If your work experience is limited, including brief information on your accomplish-
ments in athletics, social service or other activities is a way to demonstrate your leadership, time
management skills, etc.

Prepare for the social aspect of the interview process. Make sure your clothing is appropriately pro-
fessional. Review the etiquette of business occasions. The OCA team is glad to advise you.

Interview Preparation
Case-based Interviews
First determine if the firms in which you are interested currently utilize case studies in their inter-
view process. Employer websites, recruiters, students and alumni who have worked with the firm,
and OCA are reliable sources. Preparation for case-based interviews requires significant time and is
an ongoing learning process. Take time to develop your analytical framework. Plan to pace yourself

OCA Consulting Guide: August 2014

 to develop your skills over a semester, as last–minute cramming is rarely effective. As preparation
and practice are key, practice with friends, classmates, online (see below under Recommended Reading
and Resources), and/or the Harvard Graduate Consulting Club. For students who are offered an inter-
view with a firm, OCA facilitates live case practice with students who are former consultants, sub-
ject to your arranging a mutually convenient time.

Case questions are role plays for consulting. Types of case questions include: brain teasers, profita-
bility improvement, market-sizing questions, industry analysis, investments, and operational cases.
Each requires the ability to perform basic mathematical calculations in your head. An example of a
brainteaser is: Why is a manhole cover round? Profitability improvement cases involve estimating
the profits for a particular situation by breaking down revenue and cost components. Market-sizing
questions, sometimes known as “back-of-the-envelope” questions, ask you to determine the size of a
certain market (i.e. estimate the size of the U.S. cell phone market) or the number of units in a cur-
rent market (i.e. How many restaurants are there in New York City?). Cases can, and often do, en-
compass a market-sizing question within a larger business question (i.e. Google wants to enter a new
market. How big is the market and how should it enter it?). This example involves industry analysis
as well as market-sizing.

Industry analysis involves analyzing the characteristics of a situation, often using the Five Forces
model. Using the Five Forces model from Michael Porter you examine the dynamics of the industry,
barriers to entry, substitutes, customers and competition within the industry. Investment cases re-
quire you to determine the present value of the cash flow streams generated by an investment. You
select a discount rate and then discount the cash flows. An example of an investment case is evaluat-
ing the feasibility of building a new plant. Operational cases are about improving the working of an
organization. For example, you could be asked how to reduce costs at a plant.

Often, all you have to work with are assumptions and logic. Remember that the interviewer is more
interested in observing your analytical thought process than in the accuracy of your answer. You may
ask for additional data, information, and/or clarifying questions as you proceed with your analysis.
Ask the most important questions first, and gauge the interviewer’s receptivity to possible additional
questions.

For interviews in nonprofit consulting, there may be a programmatic approach to the case study (i.e.
the organization’s mission is to reduce poverty and it has $1 million that it can deploy for programs).
You are provided with the scenario and data including demographic, market, and potential scope of
impact data and are asked to develop a recommendation.

Behavioral Interviewing
Overall, the process will include both case and behavioral interviews. Behavioral interviewing oper-
ates on the principle that past performance is a predictor of future performance. The candidate is
expected to provide concise accounts of past experience that illustrate leadership, management,
team, and problem-solving skills. Students should be prepared for a deep dive case which involves
being able to describe a situation in great detail. Read the OCA guide, Interviewing that Works: Stand
Out from the Crowd to begin your preparation for behavioral interviewing. For additional support,
attend an OCA workshop, and meet with an OCA coach to discuss interviewing technique, and/or
arrange a mock interview.

OCA Consulting Guide: August 2014

 Compensation
Consulting salaries vary widely depending on the type of consulting firm and a candidate’s level of
experience. Vault.com, Wetfeet.com, Indeed.com, Glassdoor.com, PayScale.com and Salary.com provide in-
formation on compensation levels. OCA coaches can provide data on recent offers to HKS gradu-
ates. Generally, large strategy consulting firms offer salaries of more than $100,000 and smaller
firms, particularly those with government and nonprofit clients, offer salaries in the range of
$70,000 to $100,000. Very small firms may offer less. Your specific situation and the nature of the
hiring organization will determine the offer you receive.

Representative Firms
Company/Organization Who do they hire? How many? Additional Notes

Accenture (Management Consulting, A small practice area. Does not hire Accenture, apart from the Health and
Health and Public Sector Strategy every year. (specifically the strategy Public Sector Strategy Practice, does
Practice) practice) not recruit at HKS

Analysis Group Will give maybe one offer per year. U.S.- based jobs only
Finance background/knowledge is
preferred.
Bain & Company Prefers those with MBA in addition to One of “The Big Three”
MPA/MPP, but other students should
consider applying. Will usually hire Global company
three to six HKS grads each year.
Interns must have or be obtaining an
MBA

Booz Allen Hamilton
Boston Consulting Group (BCG)
The Bridgespan Group
Censeo Consulting
Dalberg
Hiring varies significantly from year U.S. Citizenship required. A current
to year – ranging from 1 to 12 hires; security clearance is helpful
Will hire grads at different levels.
Booz & Co. is a separate company and
in different practice areas.
Prefers those with MBA for U.S. One of “The Big Three”
offices. Many international offices are
specifically looking for MPAs, MPPs Global company
and MPA/IDs. Must have some solid
work experience. Hires interns
Typically hires at least one HKS grad Important to apply to the right job
each year. Focus on nonprofit con- level: Assoc. Consultant vs. Consult-
sulting. Spinoff of Bain & Co. ant. Read the descriptions carefully to
make an informed decision.
Has hired several HKS grads in recent U.S. Citizenship required
years. Uses internship as recruiting
tool, so no direct full-time hiring.
Strongly prefers those with at least 2 Full-time deadline is typically late
years of consulting experience and September
show a dedication to international
development. MPAIDs with previous Summer Internship deadline is typi-
management consulting experience cally late January or early February
are particularly appealing.

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Company/Organization
Deloitte Consulting and Monitor
Deloitte
E&Y Government and Public Sector
Advisory Group
IBM Global Services
LMI Government Consulting
McKinsey & Company
Who do they hire? How many?
Hires anywhere between one and
eight graduates. Hires across all pro-
grams.
Excited to hire HKS graduates. Re-
quires 1-2 years of experience for
most common role
Hires across all programs. They think Salary is competitive with “The Big
highly of military backgrounds and
previous consulting experience.
Hires for “public policy fellows” a
professional development program.
Prefers students with previous con-
sulting experience. Should have at
least three years of work experience.
About 50% of hires also have an
MBA. Their deadline is one of the
earliest.
Additional Notes
U.S. Citizenship required for federal
positions. Will consider international
students for state/local practice.
U.S. Citizenship required
U.S.-based jobs only
Three”
U.S. Citizenship required
U.S. Citizenship required
Washington, DC only
Students must take a written quantita-
tive exam in round one and be com-
fortable with case interviews.
Hires interns
One of “The Big Three”

Global company
U.S. National Park Service Business Hires about 12 interns each summer This particular opportunity is only for
Plan Internship from target business and policy the summer, but is great consulting
schools. No set intern profile. experience.

U.S. Citizenship required

UPD Consulting Thinks extremely highly of HKS. U.S. based jobs only
Analytical skills and an interest in
state and local government and/social
policy required.
U.S. Secret Service Internal consulting role called “Special Unique role in the federal govern-
Advisor”. Should have at least three to ment. Opportunity to work directly
five years of solid work experience, with the Director of the Secret Ser-
preferably in consulting and/or gov- vice. Competitive salary/benefits.
ernment. U. S. Citizenship required

Recommended Reading
Case in Point: Complete Case Interview Preparation, Marc Cosentino
Case Interview Secrets, Victor Cheng
Flawless Consulting: A Guide to Getting Your Expertise Used, Peter Block
How to Conquer Your Case Interviews, David L.Ohrvall
Make Your Case: Master Consulting Interviews, WallStreetOasis.com
The Management Consultant: Mastering the Art of Consultancy (Financial Times Series), Richard Newton
Plunkett's Consulting Industry Almanac
Strategy+Business, Booz Allen Hamilton

OCA Consulting Guide: August 2014

 Helpful Firm Websites for Practice Cases
www.mckinsey.com/careers
www.joinbain.com/apply-to-bain/interview-preparation/default.asp
www.bcg.com/join_bcg/default.aspx
http://www.bridgespan.org/About/Work-at-Bridgespan.aspx

Other Resources
Vault Guides are on reserve in the HKS library and include:
Vault Guide to the Case Interview
Vault Guide to the Top 25 Consulting Firms, Asia Pacific Edition
Vault Guide to Consulting

CQI Interactive at CaseQuestions.com (free access through OCA)

OCA provides membership to CQInteractive at CaseQuestions.com where you can practice cases
online. To access this site, you must enter through the HKS-CQI portal. This information is also
available on the OCA KNet page under Find a Job/Other Internal and External Resources.

Harvard Graduate Consulting Club: http://www.harvardgraduateconsultingclub.com/ Head-

quartered in the Faculty of Arts and Sciences, and including members from HKS, HLS, and many
other Harvard graduate schools, the purpose of the Harvard Graduate Consulting Club (HGCC) is to
bring together like-minded individuals and expose them to the world of consulting by providing op-
portunities to develop business acumen through a series of diverse activities and networking events.
The club hosts many workshops on interview tips and case practice as well as business knowledge
seminars throughout the year. Every summer, the club offers two popular programs: the MIT vs.
Harvard Case Competition and the Mini-MBA program.
HKS Case Practice with Experienced Consultants
For students who are offered an interview with a firm, individual practice case preparation sessions
are available with an HKS student who has worked in the consulting industry. After receiving your
offer to interview, go to OCA on KNet and select HKS Case Practice Schedule in the Find It Fast section
to get connected with a student who can help you.

Consulting Magazine: www.consultingmag.com and www.KennedyInfo.com

Wetfeet: www.wetfeet.com offers career tools and information including career guides on consult-
ing and practice case books available for purchase.

If you have any questions, please visit OCA or email to Paula at paula_koczera@hks.harvard.edu.

OCA is located in Rubenstein suite 106.

Links to external websites and resources are provided for informational purposes only and do
not represent an endorsement by Harvard University.

OCA Consulting Guide: August 2014