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    Consulting Seminar: Iit Kharagpur

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    Amlan Kumar Sahu
    This document provides information about consulting seminar at IIT Kharagpur and the consulting hiring process. It discusses the pros and cons of a career in consulting. It outlines the hiring timelines of top consulting firms that recruit from campus like McKinsey, BCG, Bain. The document provides tips on resume making, cover letters, case interviews and preparing for consulting interviews. It emphasizes forming case study groups and using resources like casebooks and buddy sessions to practice solving cases. Overall, the document aims to guide students who are interested in careers in management consulting.

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    Consulting Seminar: Iit Kharagpur

    Uploaded by

    Amlan Kumar Sahu
    51 views28 pages
    This document provides information about consulting seminar at IIT Kharagpur and the consulting hiring process. It discusses the pros and cons of a career in consulting. It outlines the hiring timelines of top consulting firms that recruit from campus like McKinsey, BCG, Bain. The document provides tips on resume making, cover letters, case interviews and preparing for consulting interviews. It emphasizes forming case study groups and using resources like casebooks and buddy sessions to practice solving cases. Overall, the document aims to guide students who are interested in careers in management consulting.

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    ConsultWorkshop

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    This document provides information about consulting seminar at IIT Kharagpur and the consulting hiring process. It discusses the pros and cons of a career in consulting. It outlines the hiring timelines of top consulting firms that recruit from campus like McKinsey, BCG, Bain. The document provides tips on resume making, cover letters, case interviews and preparing for consulting interviews. It emphasizes forming case study groups and using resources like casebooks and buddy sessions to practice solving cases. Overall, the document aims to guide students who are interested in careers in management consulting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    51 views28 pages

    Consulting Seminar: Iit Kharagpur

    Uploaded by

    Amlan Kumar Sahu
    This document provides information about consulting seminar at IIT Kharagpur and the consulting hiring process. It discusses the pros and cons of a career in consulting. It outlines the hiring timelines of top consulting firms that recruit from campus like McKinsey, BCG, Bain. The document provides tips on resume making, cover letters, case interviews and preparing for consulting interviews. It emphasizes forming case study groups and using resources like casebooks and buddy sessions to practice solving cases. Overall, the document aims to guide students who are interested in careers in management consulting.

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    CONSULTING SEMINAR

    IIT KHARAGPUR
    WHY CONSULTING?

    PROS CONS
    The People Work Hours
    Steep Learning Curve Excessive Travel
    Breadth and Depth
    Decent Pay
    Perks
    Exit Options
    CONSULTING FIRMS ON CAMPUS
    HIRING PROCESS

    BUDDY SESSION

    RESUME AND COVER SHORTLIST 1 INTERVIEW ROUND 1 PARTNER ROUND


    LETTER SUBMISSION
    Last Week of August 1st Week of September 1st Week of October 1st Week of October

    Only for BCG BUDDY SESSION

    INTERACTION SESSION SHORTLIST 2


    Mid September Mid September
    HIRING PROCESS - NUMBERS
    Approximately 300 students apply for each of these firms

    12 30 30

    9 22.5 22.5

    6 15 15

    3 7.5 7.5

    0 SHORTLIST PARTNER ROUND OFFERS 0 SHORTLIST 1 SHORTLIST 2 PARTNER ROUND OFFERS 0 SHORTLIST 1 SHORTLIST 2 PARTNER ROUND OFFERS

    MCKINSEY & CO. BCG LEK / PARTHENON


    DATA FOR 2017 DATA FOR 2017 PARTHENON DATA FOR 2016
    LEK HIRED 5 IN 2017
    PARTHENON HIRED 1 IN 2017
    HIRING PROCESS - NUMBERS

    BCG

    McKinsey & Co

    Parthenon EY

    LEK

    0 12.5 25 37.5 50
    % KGP HIRES OF TOTAL UNDERGRAD HIRES
    RESUME MAKING TIPS
    ➤ Start working on your CV and cover letter early. Get them verified by
    seniors/alumni. It must be ready latest by the 1st week of August

    ➤ Always start from scratch. DO NOT edit from somebody else’s/your


    own old resume

    ➤ Start from Top & Left - Most important things should be in the left and
    top (except your CGPA which is generally on the right)

    ➤ Demonstrate impact of your work. Quantify it, if possible

    ➤ Start all sentences with action verbs, that make impact. Don’t use
    passive words like - was a part of, worked, completed etc

    ➤ Sentence structure should be - action verb + impact + how you did it


    RESUME MAKING TIPS
    ➤ Notice the action verbs used to start sentences & none of them are repeating
    ➤ Also, notice how the impact in each action is quantified using numbers

    ➤ Try not to exceed more than one line per point, unless it is absolutely unavoidable

    You can refer Case Interviews Cracked (IIT-B Casebook) for tips on
    making your resume and cover letter
    RESUME MAKING TIPS

    ➤ Make your CV as presentable as possible. Ensure that it is not too


    cluttered, use bold and italics judiciously

    ➤ Add unconventional hobbies/achievements in your CV for talking points


    COVER LETTER MAKING TIPS

    ➤ Just like your resume, make your cover letter from scratch. It’ll help you
    give thought to basic questions that will help you with your PI prep

    ➤ Your cover letter must answer 3 basic questions - Why consulting? Why
    that particular firm? Why would you be a good fit for the firm?

    ➤ Again, your cover letter should stand out and be unique

    ➤ Convey impact of your actions, and the learnings from your experiences/
    journey that make you think your future is in consulting

    ➤ Do not cite superficial reasons such as travelling, living in expensive


    hotels, exit options and other perks as your motivation to join the firm
    CASE INTERVIEWS

    The candidate is presented with a real client scenario to test problem


    solving skills

    The scenario is generally an ambiguous business challenge which the


    candidate is expected to solve **mutually** with the interviewer in a
    **fast-moving** discussion

    Source - McKinsey & Company Website
    CASE INTERVIEWS

    Case Interviews are used to mainly assess your problem solving skills.

    In a case interview, a candidate is expected to be -

    ➤ Organised

    ➤ Good with numbers

    ➤ Articulate

    ➤ Confident

    ➤ Coachable
    CASE INTERVIEWS

    CASE INTERVIEW TYPES

    NUMBER ANALYTICAL STRATEGY ABSTRACT


    CASES CASES CASES CASES

    Guesstimates Profitability Market Entry


    Pricing Growth Strategy

    Guesstimates and analytical cases are asked by a large number of


    companies recruiting from KGP, other than just consulting firms
    DEMO CASES
    METHODOLOGY FOR SOLVING CASES

    STEP 1: REPEAT THE PROBLEM STATEMENT BACK TO THE INTERVIEWER


    Buys you time to think about your approach
    Makes sure you heard the case correctly, and know your objective.

    STEP 2: ASK PROPER CLARIFYING/SCOPING QUESTIONS


    Clarify any ambiguous terms or industry jargons
    Typical questions include - industry/company trends, product portfolio, geographical trends
    Quantify your problem
    Understand the value chain of the client

    STEP 3: ASK FOR A COUPLE OF MINUTES TO THINK


    Think about which “framework” to apply, and organise your thoughts
    METHODOLOGY FOR SOLVING CASES
    STEP 4: STATE OVERALL APPROACH
    Tell the interviewer about the overall approach you plan to take and get it validated

    STEP 5: MECE SEGMENTATION / ISSUE TREE DRAWING


    Segment the problem in a Mutually Exclusive Collectively Exhaustive (MECE) manner
    Draw a neat issue tree and explain it to the interviewer
    Ask Interviewer how would he/she like you to proceed through the issue tree
    IMPORTANT - Do not try to fit frameworks to cases. Learn to draw custom issue trees

    STEP 6: SYNTHESIS
    Every time you change your approach/framework, or shift branches within an issue tree, give
    a mini - synthesis
    After solving the case, end with a Final Synthesis which should be very crisp
    “I recommend our client do XYZ to tackle the problem of ABC, because of the following
    reasons”, and then proceed to state your reasons
    THINGS TO TAKE CARE WHILE SOLVING CASES
    ➤ Interviewer should know why you are doing what you are at each step

    ➤ Do not use the word “framework”, and don’t try to fit standard
    frameworks to all cases

    ➤ Validate your approach or any assumptions with interviewer

    ➤ Listen to any suggestions or clues from the interviewer

    ➤ Be clean with your maths and make simplifying assumptions

    ➤ Keep your A4 sheet with issue trees and calculations neat.

    ➤ Mark every important clue or insight clearly on your sheet


    PREPARING FOR CASE INTERVIEWS - RESOURCES
    STEP 1: VICTOR CHENG VIDEO LECTURES & LOMS
    Watch Victor Cheng’s video lectures available on YouTube
    Listen to 2 or 3 cases from the LOMS series to get an idea about the flow of case interviews

    STEP 2: READING FRAMEWORKS


    Learn the basic profitability, market entry frameworks from Day1.0 (IIT Madras Casebook)
    and CIC (IIT Bombay Casebook)
    We recommend using the frameworks mentioned in Day 1.0 as your standard basic frameworks

    STEP 3: SOLVING CASES WITH CASE GROUP


    Solve all cases in IIT-B and IIT-M Casebook with your case group
    Start with “1 star” cases and move on to the tougher cases
    Ensure these resources are exhausted before your buddy sessions start!!
    PREPARING FOR CASE INTERVIEWS - RESOURCES

    STEP 4: BUDDY CASES & ADVANCED RESOURCES


    Do cases with your allotted buddies, and alumni working in consulting firms
    Ensure you give and do buddy cases with your case group and other shortlisted students
    You can use IIT-Kanpur Casebook and ISB Casebook if you need to solve more cases

    STEP 5: FIT INTERVIEW PREP


    Prepare for your fit interview one week before your interview
    ISB Casebook has a list of fit interview questions which is sufficient

    Link to all the mentioned resources will be provided after the session
    CASE GROUPS

    ➤ We recommend forming case groups with 3-4 students, who ideally have
    a good chance of being shortlisted for the processes

    ➤ Initially 1 person can act as interviewee, 1 as interviewer and the third


    as a moderator, but after 3-4 cases each, a moderator is not required

    ➤ Make sure you share new tricks, framework modifications and buddy
    case with each other

    ➤ Be honest with the feedback while solving cases


    BUDDY SESSIONS

    ➤ Buddies are company assigned mentors to aid in your preparations.


    Typically you are assigned a junior buddy and a senior buddy

    ➤ Buddy calls are usually non-evaluative, so make sure you do as many


    different types of cases with them (guesstimates & fit questions as well)

    ➤ Buddies are your main source to practice unconventional cases

    ➤ Reach out to as many alumni and seniors you know who can help you
    out with practice cases
    IMPORTANT PREPARATION TIPS
    ➤ Do not panic if you are not able to solve cases well in the beginning.
    It takes at least 10 cases to accustomed to solving cases

    ➤ Make sure you practice guesstimates, people tend to neglect them

    ➤ While solving cases with your group, do so neatly in A4 sheets. Use 2-3
    sheets per case and keep them well maintained in a file

    ➤ Maintain a journal to list down notes on cases, custom


    frameworks and feedback from cases solved

    ➤ Record some of your cases so that you can listen to them later on to
    work on your communication

    ➤ Start preparation early. Do not wait for shortlists to begin preparing


    QUESTIONS
    Please feel free to reach out to us

    SUSHANT SUDHEENDRANATH SHOVAN PANIGRAHI AYUSH BANERJEE


    +91 9920893361 +91 7872683946 +91 9933990758

    sushant.sudhee@gmail.com panigrahi.shovan@gmail.com ayushbanerjee.iitkgp@gmail.com

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