Consulting

What is Consulting?
In essence, consultants are hired advisors to corporations. They tackle a wide variety of business problems and provide solutions for their clients. Depending on the size and chosen strategy of the firm, these problems can be as straightforward as researching a new market or as complex as totally rethinking the clients organization. Much of the work of consulting is data collection and analysis. Consultants add value by collecting information that is hard to get, often by pulling it out of peoples heads. They then analyze it in a way that defines attractive ways to solve managerial and competitive problems.

Popular Consulting Firms Recruiting on Campus at UNC

Accenture Bain & Company Boston Consulting Group Clarkston Consulting Deloitte Consulting Huron Consulting Group IBM McKinsey & Co. Navigant Consulting ScottMadden, Inc Triage Consulting Group http://careerinsider.vault.com/

Possible Consulting Career Paths:

1. Strategy Consulting
Strategy consulting focuses on providing top executive officers in Fortune 500 companies with strategic or operational advice. For that, they get paid the highest fees and have the most prestige. Although some firms differentiate themselves by specializing in particular industries or functions, most strategy consultants tend to be generalists who work on a wide variety of projects and industries.

2. Management or Operations Consulting

People in this area provide advice about strategic and core operational issues. These services include strategic advice, information systems support, cost control, productivity enhancement, activity-based costing, competitive analysis, marketing strategy

3. Financial/Legal Consulting
This type of consulting includes valuation, account management, financial goal planning, and managing internal programs for a firms employees.

4. Information Technology (IT) Consulting

People in this field focus on designing, implementing, and/or managing the information and computer systems for their clients. This may require everything from analyzing the clients informational needs to acquiring new hardware systems to writing computer code to running the new system

5. Human Resources/Organizational Behavior Consulting

People in this area would be involved in change management, rewards and incentives programs, talent management, leadership development, and outsourcing.

6. Internal Consulting
This is very similar to other types of consulting, except you are consulting for your own company. It includes working as an internal consultant manager or participating in internal consulting projects for your company.

7. Boutique Strategy Consulting

These firms are typically smaller and work with a more specialized group of clients. They tend to focus in a particular industry, process or a specialized type of consulting

Case Interviewing
What is a Case Interview? A case interview consists of a business problem taken from a real life business situation, or a hypothetical example drawn from your resume. It focuses on your analytic approach to the problem, rather than specific business knowledge. In a case interview, the interviewer provides a brief case description of the problem. They are then looking for a logical, sequential thought process, more than your ability to come up with the right answer immediately. In a case interview you'll need to show evidence of strong analytical skills, your raw intelligence and your ability to work well with people. How do you prepare for a Case Interview? 1. Research firms and tailor your preparation ask others what company interviews look like 2. Practice Case Interviews 100 - Alone, (yes 100) read the case, sketch the issue tree (with hypotheses) and check the answer (& modify) 25 Peer interviews with classmates (through the consulting club) 2 with faculty 2 with alumni (and more with case coaches that the consulting firms may offer to help you) Case Interview Resources 1. Many firm websites have practice cases available to the public (i.e. McKinsey, Bain, BCG, and Deloitte) 2. www.caseinterview.com , & http://careers.unc.edu/research/index.html (Vault & Wetfeet) 3. Case Books (i.e. Case in Point) 4. KFBS Consulting Club slide deck Produced by BSBA Career Services Consulting 2010

How do I Obtain a Career in Consulting?

Consulting Job/Internship Questions:
Do I need an Internship?
Internships in consulting firms are limited. Consulting firms appreciate project-based or analytical experiences also.

When does recruiting start?

Larger Consulting Firms: Full-time interviews begin in early October, Internship interviews typically begin in early January Smaller/Boutique Consulting Firms/companies: Hire year-round for full-time, hire on an as-need-basis for interns

How should I prepare?

1. 2. 3. 4. 5. 6. 7. 8. 9. Update your Resume. If necessary, create a Cover Letter have UCS or the Business Communication Center review it. Meet with your advisor to discuss which courses to take and when you should take them. Some consulting electives require prerequisites and an application for permission. Apply for the STAR program. This can add to your resume as well as give you experience and contacts. Start searching and applying for an internship or related work experience. Attend BSBA and UCS events throughout the year in which consulting companies will be present. Get involved on campus. Exemplify your qualities and potential through activities (i.e. Undergraduate Consulting Club) Continue to update your resume and cover letter as the year progresses. Competition for consulting spots is intensemajor firms review hundreds of resumes for each hire they make. To stand out from the crowd: impressive grades, & demonstration of significant work or leadership experience are essential.

Where can I search for a job/internship?

Online at UCS or check your Kenan Flagler email for BSBA career announcements.

How important is Networking?

Very Important! Internships and Jobs in the Consulting field are limited. Attend firm presentations to learn about culture and meet folks. Keep careful records of contact information and firm research. Contact any friends and acquaintances who work or used to work at the firms. Discuss your approach with faculty and alumni. The goal is to get to know the inside feel of a firm and whether it seems right for you!

What Opportunities are there to network on Campus?

Undergraduate Symposium, Career Expos, Information Sessions, Networking Nights, Career Fairs, Mock Interviews, Club/Organization Events, STAR and Panels.

How should I prepare for an interview?

Case Interview Preparation (above) To perfect your interviewing skills participate in Mock Interview days, take BUSI 401, and ask guidance from consultants in the Business Communication Center.

Resources:
o o University Career Services (UCS) http://careers.unc.edu On this website you can search for jobs/internships, link to other online sources, view upcoming events sponsored by career services (i.e. Job Fairs, Career Expos), and much more. Business Communication Center - http://public.kenan-flagler.unc.edu/bizcommcenter/ The UNC Kenan-Flagler Business School offers students the opportunity to refine their communication skills with trained Consultants in the Business Communication Center. Consultants work one-on-one with students to revise written assignments, strengthen presentation and interview skills, and review cover letters or resumes. BSBA Intranet http://home.kenan-flagler.unc.edu Click on the BSBA tab at the top > click on the Career Services tab on the left (To search for related jobs: after clicking on the career services tab, scroll down and look to your right under Websites for Job Seeking BSBA Students > click on Consulting) Kenan-Flagler Alumni Directory - http://home.kenan-flagler.unc.edu Click on the BSBA tab at the top > click on the Career Services tab on the left > Under Career Services Links click on Kenan-Flagler Alumni Directory Student Teams Achieving Results (STAR) Program http://www.kenanflagler.unc.edu/Leadership/Companies/StarOverview.cfm Undergraduate Consulting Club (UCC)-The Consulting Club connects students interested in management consulting and through networking and preparation helps them land a job therein
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http://www.vault.com http://www.wetfeet.com http://home.kenan-flagler.unc.edu http://inet.katz.pitt.edu

Produced by BSBA Career Services Consulting 2010