Industry Chat: ConsultingSeptember 2016

Jennifer Savoie, Elissa Harris, Porsha Alexander

Consulting Careers Team

MBA Career Management

Agenda

• Introductions

• Consulting Industry

• The Job Search

• Hiring Data

• Consulting at Wharton

• Q & A

MBA Career Management Consulting Team

Career Advice

• Self-assessment & decision

making

• Networking

• Industry Insight

• Resumes, Cover Letter &

Interview Prep

Corporate Relationships

• Develop employer outreach

strategy with RRM

Programming

• Develop programs for students

interested in Consulting

JENNIFER SAVOIE and

ELISSA HARRISCAREER ADVISORS

Corporate Relationships

• Strategize best recruiting

approach for variety of employers

• Co-manage employer

relationships with Career Advisor

• Manage recruiting events

Student Support

• Assist students with logistics of

on-campus interview process, job

board postings, etc.

PORSHA ALEXANDERRECRUITING RELATIONSHIP

MANAGER

Collaborate with professional clubs including both the Wharton Consulting Club and

Wharton Design & Innovation Club

Industry Overview

Industry Overview

Dynamic $300B+ industry, comprised of firms who advise other companies.

Recent Mergers creating larger full-service institutions

Value Proposition of Consulting Firms to Their Clients

• Strategic expertise

• Broad industry perspective

• Independent perspective

• Problem solving capacity

Different Categories of Firms

Management

Consulting

Innovation /

Design

Consulting

Industry (or

function)

Specialization

Internal Strategy

Groups

• Accenture

• ATK

• Bain

• BCG

• Deloitte

• LEK

• McKinsey

• Parthenon

• Strategy&

• ?WhatIf!

• co: collective

• HUGE

• IDEO

• Innosight

• Frog Design

• Interbrand

• Smart Design

• SY/Partners

• Analysis Group

Bridgespan

• Cornerstone

• Dalberg

• FSG

• Hospitality

Quotient

• Kurt-Salmon

• Simon-Kucher

• Google

• Burlington

Stores

• Medtronic

• Role

International

• Estee Lauder

• Kraft Heinz

• Nike

• Pfizer

• Samsung

Strategy

NOTE: This is not exhaustive, but a sampling. For industry lists, please visit the Vault

Guides and other resources on the MBACM website (Research section)

Firms Differ from Each Other

Attribute Potential Difference

Firm • Generalist vs. specialist

• Mix of work – strategy vs. implementation

• Strength of different practice areas

• Client service model

• Problem solving philosophy

• Office locations / culture of individual offices

Approach to

Staffing

• Team size and structure

• Expectations of travel

• # of project assignments at a time

• Early management opportunities

Culture /

Development

• Work-life balance

• Exposure to senior staff / sponsorship by senior staff

• Approach to career and professional development

What Does a Consultant Do?

Typical Responsibilities

• Conduct research / benchmarking

• Analyze data

• Synthesize results

• Collaborate with project team to integrate worksteams

• Create presentation of recommendations for client

The scope and industry focus of the work will vary by firm and by project

Sample Summer Projects

Recommended market entry strategy in

priority countries

Optimized flow of materials in

factory of aerospace

manufacturer

Designed a health and wellness

strategy for an insurance company

Analyzed risks/benefits of

cleaning services for

hotel operator

To learn more about summer internships, read summer job evaluations

in the “Offer Directory” (MBACM website)

Case Study: Recruiting for Consulting

Name: Christian Oussi

Prior to Wharton

• Citigroup Global Markets Ltd

• Air Liquide

Internship: A.T. Kearney (Dubai)

Name: Rachel Gevirtz

Prior to Wharton

• Kara Ross New York

• Donna Karan International

Internship: BCG (New Jersey)

Career Pathways

Consultant /Associate

Manager / Team Lead

Sr. Manager / Associate Partner

Partner / VP/ Principal

Industry Operating

roles

Corporate Strategy / Internal

Consulting

Start Own Firm

Nonprofit / Governme

nt

C-Suite Roles

Exit Opportunities

Within the Consulting Firm

The Employers

Sampling of Consulting Employers

MBA Career Management

Representative Outreach List: Summer 2016

MBACM has over 2,000 company relationships and contacted over 200

firms this summer to reveal hiring needs/trends

The Job Search

Mature & Enterprise Recruiting in Consulting

• Established employer relationships

• Annual, steady demand

• Extend multiple offers/yield multiple

students

• Understand MBA recruiting value

prop

MATURE

• Developing employer relationships

• Inconsistent demand year-to-year

• Just-in-time hiring

• Less clear on MBA recruiting value

prop

ENTERPRISE

Consulting Recruiting Prep Timeline

Sept Oct Nov Dec Jan Feb

Career / Company

Exploration

Networking

Interview Prep

Application Prep

Interviews

(Round 1 & 2)

Offer Management

Feb 17:

Earliest

Decision Day1

Fo

cu

sed

Recru

iting

Perio

d (F

RP

)

EIS’s, coffee chats, industry primers,

targeted recruiting events (begins Oct 24)

Workshops, research, mock cases & case

drills, behavioral prep

Industry Chats, club sessions, talk with 2nd years/ peers, EIS’s, coffee

chats, primers, calls with firm reps, etc.

Cover letter workshop; app

deadlines begin mid-Dec

Some consulting

interviews in

Feb

Jan

19 –

27

1. Earliest Offer Date is 1/27/17. Firms are permitted to extend offers after 5:00 PM ET.

What Consulting Recruiters Seek…

• Analytical rigor /

Problem solving

• Leadership /

Teamwork

• Communication /

Persuasion

• Client management

• Business judgment

• Executive presence

SKILLS

• Open to variety of

backgrounds in

terms of industry

• Evidence of tangible

impact in previous

work

• Sector-focused firms

value relevant

previous industry

experience

EXPERIENCE

• Top performer with

track record of

success

• Ability to conduct

through / insightful

analysis

• Capability with

influence and

persuasion

• Intellectual curiosity

• Cultural fit

ATTRIBUTES

Career Switching into Consulting

Firms are looking for you to:

• Demonstrate your intellectual curiosity, your love of solving problems

and your ability to make an impact

• Highlight your relevant and transferable skills

• Translate your previous experience into how you can add value to

their firm and clients

• Show your ability to quickly and confidently master new business

topics

• Excel in case interviews; show your interest in discussing business

issues and prove your ability to adapt to new situations

International Students / Global Job Seekers

• US Offices

• The 9 management consulting firms recruiting at Wharton ALL

sponsor non-US work authorized students to work in the U.S.

• Strong English language skills and knowledge of U.S. business

customs/industry trends as well as experience living or working in the

U.S. is beneficial

• International Offices

• Many international offices recruit at Wharton

• Process may feel more “Enterprise” as you will have fewer in-person

interactions and more phone-based networking activities

• Regional work experience and language skills are usually required

• Some regions have tough visa rules and therefore can’t hire non-work

authorized students

Case Study: Recruiting for Consulting

Name: Christian Oussi

Prior to Wharton

• Citigroup Global Markets Ltd

• Air Liquide

Internship: A.T. Kearney (Dubai)

Name: Rachel Gevirtz

Prior to Wharton

• Kara Ross New York

• Donna Karan International

Internship: BCG (New Jersey)

Hiring Data

Companies That Made Internship Offers: Class of 2017

Consulting

• A.T. Kearney, Inc.

• Accenture *

• Albright Stonebridge Group (ASG)

• Analysis Group, Inc.

• Bain & Company *

• Booz Allen Hamilton

• Boston Consulting Group *

• California Environmental

Associates

• Deloitte Consulting *

• Falconi

• Frog Design

• Innosight

• Keystone Strategy, Inc.

• Kurt Salmon

• L.E.K. Consulting *

• McKinsey & Company *

• Parthenon-EY *

• PrimeStreet Advisory Co. Ltd.

• Simon-Kucher & Partners *

• Strategy& *

• ZS Associates

MBA Career Management

* Companies that made consulting internship offers for positions in the U.S. offers to

non-U.S. work authorized students

Accepted Internship Offers: Consulting **Preliminary data as of 7/1/2016

MBA Career Management

0

5

10

15

20

Class of2012

Class of2013

Class of2014

Class of2016

Class of2017

% of all accepted offersSummer 2016:

• U.S. Cities:

Atlanta

Dallas

New York

Philadelphia

San Francisco

Washington DC area

And more

• Non-U.S. Countries:

Brazil Indonesia

Canada Mexico

China Singapore

Germany Thailand

And more

Career Switching

94% 94%

85%

63%

46%

71%

48%

65%60%

86%

63%

80%

87%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

% Intern Accepted Offers – Reported “Industry Change”

Source of Consulting Internship Offers: Class of 2017 *Preliminary data as of 7/1/16

89%

6%

3% 2%

Wharton Job - On Campus Recruiting

Wharton Job - Job Posting

Other

Personal Networking Connections

Timing of Consulting Internship Offers: Class of 2017*Preliminary data as of 7/6/15

0

10

20

30

40

50

60

70

80

90

100

Compensation of Internships: Consulting Industry*

$10,400 $10,500 $11,000 $11,000 $11,250

$12,000

5,000

7,500

10,000

12,500

15,000

Class of2012

Class of2013

Class of2014

Class of2015

Class of2016

Class of2017

Median Monthly Salary

*Summer 2016 – to view detailed compensation data, visit the MBACM website (“Salary & Offer Stats”)

Consulting at Wharton

WCC Info Session: Monday, September 12, 12:00 pm

WCC Young Alumni Panel: Wednesday, September 14, 2016, 4:30 pm

Wharton Consulting Conference: October 28, 2016

MBA CAREER MANAGEMENT

30

Carol

Huang

Rachel

Gevirtz

Christian

Oussi

NashviaAlvi

Finance, Social,

Communications

Member

Education

Employer

Relations

Consulting

Conference

Wharton Consulting Club (WCC)

Next Steps and Resources

• Complete your CareerPath profile / set email preferences

• Join the Wharton Consulting Club

• Leverage MBACM resources

─ Consulting Industry Research Page

─ Read industry communications; includes important dates and

deadlines (sent on Sunday nights)

─ One-on-One Advising and Advisor Office Hours

• Talk with 2nd years about their Consulting Internships

─ Search Offer Directory and Resume Book Archive

Contact Information

Wharton MBA Career Management

50 McNeil Building, 3718 Locust Walk, 215-898-4383

Website: http://mbacareers.wharton.upenn.edu/student

General Email Inquires: mbacareers@wharton.upenn.edu

Career Advisors

Jennifer Savoie savoiej@wharton.upenn.edu

Elissa Harris harrisel@wharton.upenn.edu

Recruiting Relationship Manager

Porsha Alexander porsha@wharton.upenn.edu

Consulting Club President Contact info

Carol Huang, Communications - cahuang@wharton.upenn.edu

Follow MBA Career Management:

@WhartonMBACM

WhartonMBACM

Questions?

APPENDIX

Wharton Activities: Consulting Projects

• MKTG 890/895 – Elective course

• Partner schools and clients in 7+ countries, Partner schools and clients in 7+ countries

• Info Sessions: September 13 (12:00 pm) and September 14 (12:00 pm)

• Contact: wgcp@wharton.upenn.edu or www.whartongcp.org

MBA Career Management

The Wharton Global

Consulting

Practicum

Wharton

Community

Consultants

Field Application

Projects

• Consult to nonprofit and community organizations in the Philadelphia area

• Info Sessions: September 2 (12:00 pm) and September 8 (12:00 pm)

• Contact: 2nd Year leader: Anita Lee wailee@wharton.upenn.edu

• http://groups.wharton.upenn.edu/commconsult/overview/

• MGMT 653 (FAP) – Fall and Spring integrative, team-based course

• Student teams Deliver managerially relevant analysis for host orgs solve specific problems or investigate opportunities for growth, etc.

• http://fap.wharton.upenn.edu/653_Students_Info.htm

Historical Internship Offers with “Consulting/Strategy” Function

Class of 2014

Abbott Laboratories Cisco Systems, Inc. Liberty Mutual Insurance Roll Global

Altas Partners LP ClassPass LinkedIn Samsung Global Strategy Group

Anheuser-Busch InBev Coca Cola Refreshments Live Nation, Inc. Sanergy

Anthropologie Comcast Cable Luke's Lobster Sanofi Group: Sanofi & Genzyme

Ascena Retail Group Inc. Dalberg Mattel, Inc. Saraya East Africa

Ayala Corporation DaVita Healthcare Partners Medieval Times SegundoHogar

Bill & Melinda Gates Foundation duckhorn Medtronic Silicon Valley Social Venture Fund

Bimbo Bakeries USA Education Pioneers MTA New York City Transit Special Olympics PA Inc.

Boeing Company, The Electronic Arts, Inc. National Basketball Assoc. SquareSpace

Bond Endeavor New Sector Alliance Stanford Hospital &Clinics

BOPCO, L.P. Genentech, Inc. Nordstrom The Estee Lauder Companies

Burger King GENERAL ELECTRIC - GE North Shore-LIJ Health System The Kraft Heinz Company

Burlington Stores Glideslope Ogilvy & Mather Advertising Thomson Reuters

Capital Group Companies, Inc., Globe Telecom PetFlow.com thredUP

Cedars Sinai Medical Center Google, Inc. Pfizer, Inc. Universal American Corp.

Cerberus Capital Management Hillenbrand/Batesville Casket Philadelphia 76ers Urban Outfitters

Chanel, Inc. Imprint Capital Advisors Potential Energy Valence Health

Chartis Group, The Inspiring Capital R/GA Walmart eCommerce

Chicago Cubs Interana Rakuten, Inc. Whistle

Cigna Corporation Kaiser Permanente Raymond James Financial, Inc. Yum! Brands, Inc.

Zola

Career Switching - Fulltime (FT)

82%79%

67%

20%

40%

54% 53%

18%

56% 57%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

% FT Accepted Offers – Reported “Industry Change”

Timing of Consulting Full-Time Offers: Class of 2016*Preliminary data as of 7/6/16

0

10

20

30

40

50

60

70

FT Salary Breakdown: Class of 2016*Preliminary Data as of 7/1/16

Consulting

Number Accepted 158

Number Accepted (with salary

data)

154

% of Accepted 28.62%

Annual Salary Range $55,000-$195,000

25% Annual Salary $140,000

Median Annual Salary $145,000

75% Annual Salary $145,000

Number with Sign-On

Bonus

149

Median Sign-On Bonus $25,000

Companies That Sponsored International Students in 2016 – Fulltime (FT)*Preliminary Data as of 7/1/15

Consulting

A.T. Kearney, Inc.

Analysis Group, Inc.

Bain & Company

Boston Consulting Group

Deloitte Consulting, LLP

McKinsey & Company

Strategy&

Industry change from 1st to 2nd place of employment

2nd

Place of Employment

1st

place of Employment

Consulting and professional services n=463

Consumer goods/Retail n=282

Finance n=822

Government, Education, and Nonprofit n=176

Health, Biomedical, and Pharmaceuticals n=188

Manufacturing, Energy, and Construction n=233

Technology, Media and Telecoms n=399

Other n=370

Consulting and professional services n=752

221 (29%)

68 (9%)

130 (17%)

43 (6%)

54 (7%)

61 (8%)

111 (15%)

64 (9%)

Consumer goods/Retail n=252

36 (14%)

127 (50%)

17 (7%)

8 (3%)

6 (2%)

13 (5%)

25 (10%)

20 (8%)

Finance n=835

67 (8%)

26 (3%)

570 (68%)

21 (3%)

19 (2%)

31 (4%)

36 (4%)

65 (8%)

Government, Education, and Nonprofit n=95

15 (16%)

0 (0%)

11 (12%)

54 (57%)

1 (1%)

3 (3%)

5 (5%)

6 (6%)

Health, Biomedical, and Pharmaceuticals n=152

24 (16%)

2 (1%)

6 (4%)

9 (6%)

85 (56%)

7 (5%)

10 (7%)

9 (6%)

Manufacturing, Energy, and Construction n=236

28 (12%)

18 (8%)

35 (15%)

12 (5%)

9 (4%)

89 (38%)

21 (9%)

24 (10%)

Technology, Media and Telecoms n=306

40 (13%)

23 (8%)

17 (6%)

13 (4%)

5 (2%)

10 (3%)

178 (58%)

20 (7%)

Other n=305

32 (11%)

18 (6%)

36 (12%)

16 (5%)

9 (3%)

19 (6%)

13 (4%)

162 (53%)

Wharton MBA Alumni Survey 2014 – Industry Changes