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Blog posts tagged in Oliver Wyman

Posted by Khaled Kteily on in All About Consulting

As interviews are heating up and the offers start rolling in, you should be taking the time to consider what's really important to you. For some it will be culture, for others it will be prestige, flexibility, or project work. 

I know that when I was going through the recruiting process, I cared about all of those things. Flexibility was probably the lowest on my list - I wanted to come in, work hard, do a good job, and then figure out what comes next.I'll be at the two and a half year mark soon - putting me just around the median tenure for a consultant. And what you don't realize as a student - or what you talk yourself into downplaying - is that consulting is hard work, man!

Posted by Khaled Kteily on in All About Consulting

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This post is Part 2 in a five-part series on the skills you will need to succeed in consulting, and focuses on the importance of knowing your industry, client and competitors. 

The series:

Part 1: Hard skills and staying organized

Part 2: Knowing your industry, client, and competitors

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Here's the thing: if you work for a firm that recruits at a major school, students have probably been trained from day one to network. At schools like Queen's and Ivey, it's a well-oiled machine. 30 minutes to 6 hours after an information session, you receive a dozen politely-phrased e-mails from students requesting phone calls, coffee chats, case prep, hugs, freshly-baked cookies, inspirational life talks, and more. 

Here's the thing though - and I'll take myself as an example because my instinct is to help a student whenever possible - a consultant doesn't want to spend their time with a student who probably won't get an interview. It sounds cold, and unfair almost, but it's the truth. When you have limited time (and we all do), to a certain extent you HAVE to be selective. 

Posted by Khaled Kteily on in All About Consulting

b2ap3_thumbnail_2012-07-07-21.32.17-HDR-1.jpgI've held off on writing about 'how to succeed as a consultant' until I knew that I could provide real, valuable advice to students who are entering the field or to new consultants who have just started. As I approach the median tenure at a consulting firm (likely somewhere between 2.5-3 years), I've learned quite a few things along the way. This series is meant to share some of that and over the next month I'll be posting about the following 5 topics that will help you succeed as a management consultant:

Part 1: Hard skills and staying organized

Part 2: Knowing your industry, client, and competitors

Part 3: Logistics and personal organization

Part 4: Networking & reputation

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Posted by Khaled Kteily on in Networking & Reputation

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Every man should have a 'go-to' outfit (sorry, women... not exactly my area of specialty). And while Harvey Specter (above) looks like a million bucks, you actually want to go the other way. What every student needs - especially when you're recruiting - is a clean, simple, and professional combination of clothing 
that you can throw on at a moment's notice, without having to think about it. This is your go-to. 

And it doesn't have to break the bank, either. Below I outline how you can get this together on the cheap. Starting from the top...

1. Shirt (White, light blue) - $60-$100

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I recently read an article on The Verge discussing various 'gentleman's agreements' between the major tech companies. Fascinating to see the insider's perspective on this - as well as copies of the actual e-mails sent to and from top execs at Apple, Google, Adobe, etc. 

Steve Jobs, for example, writes an e-mail to Ed Colligan, the President and CEO of Palm at the time, stating that their recruiting techniques were "not satisfactory to Apple". 

It's well worth the read, and gets you thinking; do consulting firms have similar agreements in place? You don't hear much about consultants being poached between one firm and another (at least below the partner level). Is this intentional or due to other factors? 

I suspect there's a couple of factors at play here: 

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Posted by Khaled Kteily on in All About Consulting

Management Consulted has recently published a list of salaries at major consulting firms (one of the most interesting posts they come out with once or twice a year). Without commenting on the accuracy on any of these, I'd like to reproduce some snippets their blog post below:

For undergraduate students, take a look at the following numbers, organized by total base + signing bonus figures (ordered by total in Canada):

  1. Oliver Wyman: $75k base with $10k signing bonus ($85k)
  2. Bain: $70-75k base with $5k-$7k signing bonus ($75k-$82k)
  3. Booz: $72k base with $5k signing bonus ($77k)
  4. BCG: $72.5k base with $5k signing bonus ($77.5k)
  5. Accenture: $67-$68k base with an $8k-$10k signing bonus ($75k-78k)
  6. McKinsey: $70k base with $5-6k signing bonus ($75k-$76k)
  7. A.T. Kearney: $65k ($70k in Toronto) base with $5k signing bonus ($75k)
  8. Deloitte: $72.5k base ($60k in Canada) with $10k ($3k in Canada) signing bonus ($63k)

A few interesting notes:

1. Oliver Wyman has the highest base and signing combined

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Posted by Khaled Kteily on in Industry Knowledge

Healthcare (especially in the US) is a rapid area of growth in consulting, and as this blog post will tell you, healthcare is one of the most common industries to appear in consulting interviews. Inspired by some of my recent project work, as well as Oliver Wyman's intellectual capital, I've written about some factors affecting the state of the pharmaceutical industry.