Intro To Consulting Prework 1


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Intro To Consulting Prework 1

  1. 1. Pre-reading for:Introduction toConsulting CareersKnow and Develop YourselfJ-P Martins, Consulting Careers TeamSeptember 2012
  2. 2. Contents What do I need to know about consulting careers at LBS? What is Who are the How do I get hired consulting? consultants? into consulting from LBS? …and is it for me? …and which would …and how does suit me best? Career Services help? 2
  3. 3. What is a management consultant? Any professional who provides advice and assistance to others, ‘Consultant’ usually for financial reward. This covers many roles operating in almost any industry ‘Management Identifies, diagnoses and solves Consultant’ business problems and issues 3
  4. 4. That’s very general - what distinguishes whatmanagement consultants do?Management consultants: LogicIdentify, diagnose and resolve business issuesProvide resources •  People •  Access to data and expertise Provide an objective view of •  Impartiality the way forwardOperate at many levels and/or help theWork with others client to achieve •  Clients something they •  Case teams can’t do aloneWork on projects (‘cases’ or ‘engagements’),lasting from a few weeks to several years Speed 4
  5. 5. How do they do that then? – Workplan, analyse,communicate! Strategic Problem Solving Process Problem Framing Problem Structure Issue Prioritisation Business •  Impact and Hypotheses •  Speed Problem •  Key elements •  Insight •  80:20 •  Early hypotheses Work Planning •  Efficiency •  Leverage Output Synthesis and Analysis Next Communication Recommendations •  So what - insight iteration? •  Buy-in •  Solutions •  Justification – how New •  Implementability •  Actions do you get the priorities? data to prove it? 5
  6. 6. Sorry, what do they actually do?The case team leader (typically 2-3 The team (consultants & clients) will work togetheryears post MBA) will: to solve the problem: •  Ensure the problem is correctly •  Work through the issues in a logical way defined and scoped •  Discuss approaches and solutions as a •  Understand what the client team needs to achieve •  Conduct desk research, interview and •  Sound out approaches and observe clients, ask awkward questions, potential solutions (hypothesis collect and analyse data, consult experts based) •  Substantiate conclusions with data, data, data •  Obtain buy-in from team members and client’s senior management 6
  7. 7. Example project 1: Merger between two globalairlines Problem: Asked by CEO of XYZ Air to assist build a business case for merger, to present to Board Project: Two teams, each led by a manager with 2 or 3 consultants/associates, three month timeframe Identified likely areas of synergy and estimated quantity of each ‘Killer’ analysis was reconstructing the other airline’s operating and maintenance schedule by working backwards from published timetables Also lots of detailed working through organisation charts and expense details with XYZ Air’s senior managers Developed detailed brand and service strategies to minimise top-line erosion Workshopped findings with select senior managers from both airlines Findings: Validated key assumptions and overall value - £1+bn synergies Results: Work was presented to Board – they continued to move forward with the project Merger was eventually announced to markets, but rejected by regulators 7
  8. 8. Example project 2: Operational improvement atflight catering centre Problem: Asked by GM Catering of XYZ Air to advise on cost reduction and operational improvement at regional flight catering centre Project: One team, led by a manager with 2 consultants/associates, three month timeframe (one of 8 or 9 such teams running simultaneously in the same client) Hand-picked 15 client team members to perform the project analysis and act as change champions First day was met by a walkout of all staff leading to no food on planes for a 6 hour period Identified likely areas of opportunity and quantified each §  Included sifting through all discarded meals from one day’s flights to identify what passengers really want to eat, rather than what they say they want §  Benchmarked potential savings against wholesale outsourcing Findings: Over £1m annual saving possible from reduced flight delays, re-scoped food menus and efficiencies in ingredient procurement Results: All recommendations accepted and implemented – XYZ went on to further reduce scope of economy class hot meals as it realised these really were not valued by public 8
  9. 9. Example project 3: Energy coal supply anddemand study Problem: Asked by Group CEO Energy of Global Mining Co to produce bottom up forecast of energy coal prices for next 15 years based on comprehensive supply and demand study Project: Sino-Australian team: 2 managers with 4 consultants/associates, with 1 senior manager and two engineers from the client, 3-month timeframe (based in China for 2 months) Completed survey of 300 Chinese mines using local market researchers, and exhaustive electricity demand projections based on GDP growth and demand elasticities Modelled all new planned power stations over next 15 years and likely impact on demand Thoroughly researched Chinese road, rail and sea transport infrastructure Built global supply and demand model using company information Findings: Ground-breaking (then!) view on explosion of Chinese natural resource demand Confirmed availability of low cost coal production to meet this demand, despite likely short term transport bottlenecks, and unviability of some of Global’s assets in the long term Reviewed Global Mining’s cost position and made advised strategy for each mine Results: Strategy not adopted – Global Mining instead reacted to short term price rises, raising long- term price forecasts, and overinvested in acquisitions which destroyed value 9
  10. 10. Contents What do I need to know about consulting careers at LBS? What is Who are the How do I get hired consulting? consultants? into consulting from LBS? …and is it for me? …and which would …and how does suit me best? Career Services help? 10
  11. 11. The appeal of consulting is different for differentpeople – here’s a starter list…A fantastic opportunity to accelerate or Opportunities to traveltransform your career Variety: of problems to be solved; of industries/Extremely selective hiring – it’s like winning a organisationsprize Intellectual challengesImmense capability of your colleagues – smart,charming, driven people Interpersonal challengesGreat employers – training, benefits, offices, Influence (power?)personal development Ability to create completely new intellectualRemuneration’s good – particularly if you stick capitalaround a few years Value creation •  Base UK salaries for MBAs £70-90k Opportunities to develop, coach and train range for MBAs (+ sign-on) others (clients, juniors)Professional service – serving clients Looks good on your CV 11
  12. 12. …but it’s not going to suit everyone(1 of 2)You may not be good enough? •  Hiring is very selective •  Fewer than 10% of applicants from LBS get into the top firms •  You have to be highly driven and work hard •  60+ hour weeks remain normal, and 80+ hour weeks are not unknown •  Travel commitments can be onerous •  Consultants need to work with their clients. This may mean extensive periods of travelling, living away from home 4 days a week •  Things change •  Constantly. Project allocations, travel arrangements, meeting times, holiday plans, development targets… 12
  13. 13. …but it’s not going to suit everyone(2 of 2)You’re not the smartest fish in the pond any more •  Your colleagues are bright and enthusiastic – many did better at school than you •  Your bosses really do know what they are talking about now, and sometimes you’re the one who doesn’t •  ‘Up or out’ •  Your performance will be constantly evaluated •  Every six months or so, you will be appraised by a career development committee •  You may be promoted at any of these appraisals •  If not promoted at regular intervals (usually around 2 years) you will be asked to leave •  Annual turnover at these firms is often around 25% 13
  14. 14. How does a consulting career work? 6-9 years 4-5 years 2 years post MBA Partner1,3 Typical MBA Manager1 •  Partner/ entry level •  Associate Director2 Case Team Principal2 •  Vice Leader1 •  Principal3,4 President4 Consultant1,3 •  Engagement •  Associate2,4 Manager2 •  Project Associate Leader3 Consultant1 •  Senior •  Business Associate4 Analyst2 •  Associate3 •  Consultant41 Bain, 2 McKinsey, 3 BCG, 4 BoozNote: Timings very approximate 14
  15. 15. Market is looking pretty good, and doing an MBA at LBS positions you well! MBA consulting hiring from LBS in recent years (index: MBA2011 = 100) 100 ? 61 59 54 54 54 57 45 47 39 40 30 MBA 2006 MBA 2007 MBA 2008 MBA 2009 MBA 2010 MBA 2011 MBA 2012 Summer internships Permament hiresSource: LBS MBA employment reports 15Index = # students in class x employment rate x % going to consulting
  16. 16. Fewer MiFFTs get hired, especially into strategy consulting MiFFT consulting hiring from LBS in recent years (index: MBA2011 = 100) 11 11 6 7 10 6 5 4 MiFFT 2007 MiFFT 2008 MiFFT 2009 MiFFT 2010 MiFFT 2011 All consulting Strategy consultingSource: LBS MiFFT employment reports 16Index = # students in class x employment rate x % going to consulting
  17. 17. Contents What do I need to know about consulting careers at LBS? What is Who are the How do I get hired consulting? consultants? into consulting from LBS? …and is it for me? …and which would …and how does suit me best? Career Services help? 17
  18. 18. The consulting industry is big, and hard tonavigate and research$200+ bn worldwideBLT (consulting specialist executive search firm) list 370 firms in the UKaloneAnd this list misses some firms that I know and that hired this yearA handful of brand names dominate most people’s thoughts on theindustry, and your aspirations I’m sure… 18
  19. 19. There are many different ways to segment theindustryWhether you’re a novice, onlooker, participant or player… •  Which firm do you know best? •  Which segment or category of consulting do you think they fall into? 19
  20. 20. The most useful way to segment firms is by feesand size High Strategy Boutiques Global Elite (‘Top Tier’) BCG Mars & Co McKinsey Bain Booz PRTM Diamond ATK Revenue per Consultant ZS Associates IBM Atkins Deloitte Accenture CapGemini Diamond Low Specialists Global ‘Full Service’ 10 100,000 Size of Firm (# consultants) Illustrative only 20 Source: ADD Resources
  21. 21. All these segments are interested in recruitingfrom London Business School Generalists: McKinsey, BCG, Bain, Booz & Co, Roland ‘Top Tier’ & §  Across sectors Berger, A T Kearney, Monitor, Marakon, LEK, Big Boutiques §  Strategy, M&A, PE, Operations, Processes, OC&C, Parthenon Group OrganisationGlobal, Full Service Part of much larger firms, leverage accounting, Accenture, Deloitte, IBM, PA Consulting auditing, corporate finance, systems relationships Specialise in a sector (eg FS, FMCG, transport, Finance: Oliver Wyman, McKinsey Corporate construction…) or function (eg finance, HR…) FinanceFunctional & Sector IT: McKinsey BTO, Axon, Specialists Sales and Marketing: ZS Associates, Wolff Olins HR: Watson Wyatt, Hay, Towers Perrin ‘Small’ Boutiques Very many firms, some quite small e.g., Greenwich Associates, Mars & Co, Often do the same work as consultants e.g., Diageo, Reuters, Shell, Deutsche Post,Internal Consultants Vodafone, Oracle Many different titles 21
  22. 22. Who do you want to work for? (1 of 2) Consultants: pre MBA vs. Aspirations 401 100% 56% Non-consultants 324 Consultants 44% 77 Pre-MBA AspirationsNote: data for MBA 2011 class only 22
  23. 23. Who do you want to work for?(2 of 2) Which consulting firms – your preferred recruiters 48 45 39 12 5 4 4 4 3 McKinsey BCG Bain AT Kearney IBM Monitor Accenture Parthenon LEKNote: data for MBA2010 class 23
  24. 24. The old term ‘strategy consultants’ doesn’tdescribe what ‘Top Tier’ firms do Corporate strategy But many other firms do this kind of work too Corporate development •  Boutiques Business unit strategy •  Sector specialists Functional strategy eg •  Functional specialists •  Marketing •  Global ‘full service’ •  Product innovation/R&D •  Maintenance Process/operational improvement Organisation design Post merger integration Private equity •  Pitches •  Due diligence •  Portfolio improvement 24
  25. 25. The ‘Top Tier’ firms have similar business modelsand products Why They Look The Same Similar people Data driven analytical approach Recruit highly selectively from top Slide driven communication ‘Top Tier’ Firms business schools Moved from short term projects to McKinsey Partnerships long term relationships, many BCG years ago now Rigid up or out, rapid progression Bain to partner for a few Work on all aspects of +/- Booz management Blue chip clients +/- AT Kearney §  Whatever matters most to the §  Eg FTSE 100 Chief executive and board §  Leaders in their field Equally comfortable in implementation as ‘strategy’ Issue/hypothesis based workplanning 25
  26. 26. Observed cultural differences between McKinsey, BCG and Bain Influence Generalist, Private equity focusMore specialised, McKinsey Bain Value including specialist hiring BCG Generalist Ideas 26
  27. 27. You need to do your own researchHow would you characterise these firms?What about all the other firms that recruit here?Don’t you think you’d better have a point of view by the time you apply toany of them? 27
  28. 28. Contents What do I need to know about consulting careers at LBS? What is Who are the How do I get hired consulting? consultants? into consulting from LBS? …and is it for me? …and which would …and how does suit me best? Career Services help? 28
  29. 29. You can’t all get jobs in the ‘top tier’ Illustrative Top Tier Recruiter 2008-9 1st Round 2nd Round Applications Hires Interviews Interviews 350 92 (26%) 33 (9%) 10 (3%) 160 190 52 17 4 40 16 6 Blue = Spring (‘summer internship’) recruiting Red = Autumn (‘full time’) recruiting 29
  30. 30. Comparing types of consulting employer By size… Small Firms Medium Firms (incl. Large Firms (‘Full Bigger fish in a smaller ‘Top Tier’) Service’) pool More focused on Systematic training Talent more visible consulting than ‘Full Many offices Service’ Greater breadth of work? Recruiting not as Many famous brand competitive Recruitment less names competitive More specialised entry Career building step points Prestige Scope for career change By price ‘Specialists’ and ‘Full Service’ Firms Generalist ‘Strategy’ Firms point… Lower prices mean they’re selling Higher price points demand innovation experience Greater focus on bespoke approaches More ‘formulaic’ approaches 30
  31. 31. What matters to you? Consultants Aspiring Consultants Quality of work and clients Environment/culture Clear, predictable career track Personal development Quality of workmates Financial reward Brand name, security Partner prospects Turning experience into consulting Intellectual challenge 31Source: ADD Resources
  32. 32. What matters to you? ‘Top Tier’ Boutiques ‘Full Service’Quality of colleagues Brand name impactEarnings progression International work Type/level of work Speed of promotion Work/life balance Job securityEase of getting hired 32Source: ADD Resources
  33. 33. Promotion track may also differ between firms Faster in Boutiques 6-9 years Slower in ‘Full Service’ Partner1,3 Manager1 •  Partner/ •  Associate Director2 Case Team Principal2 •  Vice Leader1 •  Principal3,4 President4 Consultant1,3 •  Engagement •  Associate2,4 Manager2 •  Project Associate Leader3 Consultant1 •  Senior •  Business Associate4 Analyst2 •  Associate3 •  Consultant41 Bain, 2 McKinsey, 3 BCG, 4 BoozNote: Timings very approximate 33
  34. 34. How is your experience seen by recruiters? Irrelevant Balance Sought Relevant ValuedNon-Consulting Generalist roles, Generalist roles, Specialist roles, Specialist roles, Experience generalist firms generalist firms generalist firms generalist firms Specialist firms Specialist firms Consulting Entry level roles Experience Good Higher level Entry level roles quantitative/ roles Areas of problem solving (especially weakness/ experience around sales question marks Good performer ability outside in some areas across other ‘top tier’) dimensions 34
  35. 35. Contents What do I need to know about consulting careers at LBS? What is Who are the How do I get hired consulting? consultants? into consulting from LBS? …and is it for me? …and which would …and how does suit me best? Career Services help? 35
  36. 36. ‘How to get a consulting job’ on a single slide? –Easy! Richard Branson Smart Mark Zuckerburg Stephen Hawking Tony Blair Barack Obama Charming Ashton Kutcher Bill Clinton (in his day!) Michael Phelps Aung San Suu Kyi Driven Mo Farrah Eddie Izzard Bill Gates LeBron James If you had this magical mix, I guarantee you wouldn’t need me to review your CV or to practise a single case… 36
  37. 37. A more actionable checklist involves four areas of competency Problem Personal Drive/ Leadership Solving Impact Aspiration§  Intellectual capacity §  Presence §  Maturity §  Driven by results – action oriented§  Analytics/quants. §  Confidence vs. ego §  Track record (sporting, clubs) §  Enthusiasm§  Creativity §  People skills §  Integrity §  Desire to excel§  Business judgement §  Team player §  Inspirational §  Other interests§  Comfort with ambiguity §  Sense of humour §  Willing to take personal risks Could I put you in front of a client on Day 1? Could I spend 24 hours flying from London to Sydney with you? 37
  38. 38. Typical hiring criteria are three ‘meetsrequirements’ and a spike Candidate EvaluationTruly Distinctive Meets Requirements Unacceptable Problem Personal Drive/ Leadership Solving Impact Aspiration 38
  39. 39. The recruiting process assesses ability,motivation and fit Can you §  Do you have the appropriate skills and do the job? experience? Do you want the §  Are you really motivated to do the job? job? §  Are you driven to excel in the job? §  Will you fit in to our teams? Will you fit into §  Will our clients think you’re ‘one of us’? our company? §  Will we enjoy working with you? 3939
  40. 40. After application screening, the interview process usually involves 2 or 3 roundsInterview Round Interview Round Additional Tests1*: 2: (sometimes):‘Fit’ interview ‘Fit’ interviewCase Study Case Study Role play JOBinterviews (2) interviews (2 or 3) OFFER! Group exerciseFit and Case may be Usually with partners ‘Business acumen’combined ‘Weak spots’ tested test Ding! Ding! Ding! * McKinsey has the IPS test before the first round
  41. 41. Spring recruiting on a page (MBA2013) Offers 68+ 2nd round individuals interviews 89 individuals 159 92 1st round interviews 173 individuals 424 “This year is shaping up to be a record year for us at LBS” – top tier recruiter 41Note: Numbers subject to change – final numbers will be published in our annual MBA Employment Report
  42. 42. Who came to Campus to see the first year MBAslast year?McKinsey OC&C (return after a fewBCG years’ break)Bain ZS AssociatesBooz Roland BergerAT Kearney MonitorAccenture (ADP only) Delta PartnersParthenon SolonKPMG (new – MBA-specificprogramme) Note LEK not here last year ‘because of the Olympics’ 42
  43. 43. The slides that follow…Are based on data from MBA2013 for summer internship recruiting thisyearThese data are not final nor completeWe measured three things across the group •  CV score – how strong the candidates’ experiences and achievements are (NOT how well written were their CVs) •  CAC score – how well they performed in quality controlled mock case interviews •  GMAT – how well they did in their GMAT exams 43
  44. 44. More interviews for high CV and CAC scores 44Note: 424 1st round interviews
  45. 45. More interview success for high CV score, CAC score and GMAT 45Note: 159 2nd round interviews
  46. 46. More offers for high CV score, CAC score and GMAT 46Note: 92 offers so far shared among 68 students – more expected
  47. 47. Firms do not appear to use GMAT as a pre- selection tool 47Note: Data reflects extent to which firm round 1 GMAT differs from class average
  48. 48. CV score, on the other hand, is quite a good indication of shortlisting behaviour (strongest in the most selective firms) 48Note: Data reflects extent to which firm round 1 CV score differs from class average
  49. 49. As expected, CV score may be an even better differentiator of interview performance 49Note: Data reflects extent to which firm round 2 CV score differs from class average
  50. 50. CAC score’ effectiveness confirmed, but not for final round 50Note: Data reflects extent to which firm CAC score differs from class average
  51. 51. Geography appears to have been moreimportant than ever 51
  52. 52. Summer Consulting Team – last year’sprogramme 6-8 MBA students work as a self-managed consulting business over the summer and beyondPresentation 20 Feb 40 students Last year – 11 projects for 8 clients totalling ~£180kDeadline Wednesday 22 ~30+ applicants? revenue CS gets 15% (7/5% to a scholarship and 7.5%Shortlisting Thursday 23 16 candidates towards our budget Target 50% conversion to strategy consulting postInform candidates Friday 24 MBAInterviews Friday 2 March 6-8 offers Consulting team runs selection and provides training, mentoring, ongoing supportTeam starts with offsite 11-12 June 52
  53. 53. The one month emergency action plan – foremergencies only! Week 1 Week 2 Week 3 Week 4 •  Email to find people •  Read or practice 2 cases •  Practice at least 1 case •  Continue reading interested in practicing per day. Practice at a day with friends. If you business articles, case interviews with you least 3 market size run out of cases, have a practicing behavioral estimation questions friend make up one questions, and doing •  Practice answering fit during the week based on recent mock case interviews questions. Focus on business news stories with friends concrete examples •  Every day, read 2 FT illustrating your articles. For each, •  Continue reading •  Meet with someone from achievements, role on identify the main business articles and industry. Ask about the teams, leadership and business issue, and practicing behavioral company, their analytical abilities spend 15m developing questions experience, and if they an issue tree for the can give you a case/ •  Reach out to 1or 2 case as if for interview. provide feedback on people in industry and Discuss with your case your resume. It’s vitally network. Get at least 1 buddy, and see what important to have lunch scheduled for other areas they would someone review your weeks 3/4, after you’ve have considered. resume before things get practiced cases. Don’t You’re striving to learn to too serious. Its also only ask them to look at structure things in a useful to get a your resume; they can MECE way professional opinion on also give you a practice your current case- case with instant •  Practice 1different fit cracking ability feedback question per day, in front of a mirror or with a 53 friendSource:
  54. 54. Contents What do I need to know about consulting careers at LBS? What is Who are the How do I get hired consulting? consultants? into consulting from LBS? …and is it for me? …and which would …and how does suit me best? Career Services help? 54
  55. 55. How can we help? Career Services Public domainCVs: Lots of resources •  Consulting firms are very good at reading CVs All the main firms’ websites •  Get yours into the MBA format •  Focus on achievements, consulting skills •  MBA CV process kicks off 10 September Booz even has an iPhone app • interview-prep/id466833493?mt=8Cases: •  LBS casebook (new edition ~ 5 October) •  Online case prep tool Commercial providers •  Consulting Club CaC •  We can’t recommend •  MBAs have access to Super Saturdays and •  Follow me and others I follow on Twitter workshops •  Google •  Ask aroundFit: •  Mock interviews •  Book with coaches •  Ask them to be rigorous, demanding, drill deep on specific examples •  MBAs – Mastering Interviews workshop 55
  56. 56. First year MBA consulting careers skills programmeIntro to Masteringconsulting and Great Creative problem solving consultingstrategy consulting CVs interviewscareers~3 Sept ~10-14 Sept ~5 Oct ~22 Oct ~16 Nov…for the undecided Presentations by ½ day intro Further problem ½ day workshop* stream solving tools…for the committed ~8 Oct ~17 Nov ~1-12 Oct ~5 Nov18 Oct Tools & techniques Mock interviews Detailed reviews Creativity tools & (externals and PLP)Other career options ~13 Oct, 24 Nov techniquesin strategy ~15-26 Oct Crack a Case Super ~6 Nov on11 Feb 2013 Recalls Saturdays WorkshopsAlternative pathwaysto consulting30 AprMake the most of Summer On Campusyour internship Consulting Recruiting Team 2013 ~12 Jan 2013 ~7 Jan 2013 ~18 Feb * Incorporating Winning consulting cover letters and Crack a Case Super Commences… Launch 56 Personal brand Saturday
  57. 57. First year MiFFT consulting careers skills programmeIntro to Masteringconsulting and Great Creative problem solving consultingstrategy consulting CVs interviewscareers~3 Sept MiFFT programme Ongoing: ~22 Oct MiFFT mock CV process is interview…for the undecided LBS Casebook Further problem already underway programme is run solving tools…for the committed •  New version separately expected ~5 ~5 Nov18 Oct October Creativity tools &Other career options Online case prep techniquesin strategy tool11 Feb 2013 Consulting ClubAlternative pathways Crack a Caseto consulting programme30 Apr ~8 OctMake the most of Tools & techniques On Campus On Campusyour internship Recruiting - Recruiting - permanent internships 24 Sept 2012 7 Jan 2013 Commences… Commences… 57
  58. 58. MiFFTs – apply now or in January? Autumn pros Spring pros No precedent for MiFFT consulting More time to prepare internships Best chance of securing an internship Other applications need to be made in autumn – would be silly to delay those to find out what will happen in spring Best to find out about likely outcomes sooner rather than later Less likely to be compared to MBAs with extensive preparation Firms most likely to hire MiFFTs tend not to have structured internship programmes anyway This is not advice. There is no substitute for drawing up your own well- researched list of pros and cons and reaching your own conclusion 58
  59. 59. Recap – what is consulting and is it for you?Management consulting is a broad field, concerned with solving clients’business problems at all levelsValue, rigour, speed and independence are keyConsultants work in teams, and apply a rigorous problem solving processConsulting has many attractions, but will not suit everyoneOnly you can tell if it’s for you – take today as a starting point and researchthe sector, and firms… 59
  60. 60. Recap – who are the consultants and whichwould suit you best?I hope this has given you some ways to think about which firms to apply toDon’t apply only to McKinsey, BCG and BainIf you do apply to the top tier firms, have a backup strategyChoose firms based on what drives you, your strengths, and research onthe firms concerned 60
  61. 61. Geography is theRecap – how to get hired most important factor – think carefully about where you applyIt’s very clear what most of the recruiters are lookingfor: •  Problem solving ‘smarts’ •  Personal impact ‘interpersonal skills’ Maximise your chances •  Leadership (potential…) •  Drive Pick firms that resonate with you, your skills and experiencesAsk yourself •  Do you really stand out on these dimensions? Pick offices that resonate too •  Does you CV/cover letter really reflect that? Don’t just apply to the ‘top tier’ –Recruiters have a multi-stage process that focuses what are your Plan B and Plan C?on you underlying competencies, especially problemsolving, primarily using tests and case interviews •  It’s a big time- and emotion-sink •  It’s highly selective, <10% of applicants succeed with each top tier firm