ADVANCED PROFESSIONAL DEGREE CONSULTING CLUB

Kick-Off Event 2015

Agenda• Introduction to Consulting• The Club• Upcoming Events• Internship Program• Q&A• Social hour

WHAT IS CONSULTING?

Serving the client to solve complex business problems

Your client is the owner of a local brewery who has sold craft beer in Minneapolis for the last 5 years. The brewery has suffered declining profitability in the last few years. Your client has approached you to help him determine how to remedy this situation.

Wide range of industries

Consultant lifestylePros:• Challenging work• Dynamic environment• Career development• Learn about new industries• Work in diverse teams• Good compensation

Cons:• Lots of traveling• Stressful• Not always rewarding

What is it exactly like?

Source: McKinsey Presentation

Consulting firms that may recruit APD holders

Business background?• At McKinsey, 1/3 of hires are APD’s.

• What are companies looking for:• Problem-solving capabilities• Collecting and analyzing data• Intellectual curiosity• Expertise in a field• Leadership skills

• No business experience is required!

Career Path

2016 Recruiting Checklist for APD Candidates

Exploring Applications Interview Prep

April

Research firms as needed (Wetfeet, company websites)

Review resume with career coaches

Develop plan for full-time recruiting Develop plan for case and fit/behavioral prep (goals,

journal to track progress, timeline, resources list) Run 2-3 cases

May

Info intervitews wih at least 2 consultants from target firms

Draft cover letters, review with career coaches

Read “Case in Point,” listen to “Look Over My Shoulder”

Read other case prep materials (see resources list) Run 5-10 cases Build personal brand, stories for behavioral Qs,

practice answering in STAR format

June

Stay in touch with other 1st years during internships

Info interviews with at least 2 consultants from target firms

Work with career coaches to polish resumes and cover letters, draft apps

Run 10-15 cases with classmates, others. Include 1 fit question at beginning of every case.

Practice fit/behavioral questions with classmates, career coaches

July

Stay in touch with target firms. Get feedback on interview skills, resume, cover letters from warm contacts at target firms

Applications due - McKinsey

Run 5-10 cases Include 1 fit question at beginning of every case.

Aug

Stay in touch with target firms. Get feedback from warm contacts.

Applications due – BCG, others

Interviews – McKinsey, others Mock interviews with classmates, career coaches Mock interviews with firms

Sept

Interviews – McKinsey, others Mock interviews with career coaches, firms

Oct Interviews

11

12

APDCC

Recruiting dates approaching for APD students

Application Deadlines:

McKinsey: July 20

BCG: August 10

Others: Reach out to the firms

Interviews:

McKinsey: August

BCG: Aug & Sept

Others: Aug – Sept

Important resources

• Casebooks from major business schools• Case Interview Secrets by Victor Cheng• Case In Point by Marc Cosentino• Masterthecase website• Other books: The Principle of Pyramid, The McKinsey

Way, The McKinsey Mind, Vault Career Guide to Consulting, Crack the Case System

THE CLUB

The APDCC – mission

Facilitate – Offer a forum for APD students to grow professionally in preparation for consulting careers.

Network – Create an alumni network of APD consultants.

Educate – Create greater awareness among APD students about careers in consulting.

The APDCC – get involved!• Upcoming events

• Info sessions by consulting firm representatives• General business seminars• Case interview workshop• Internship program

Internship project timeline

Project conception

Refinement and team selection

Strategy development Recommendations Execution

/follow-up

• A business need is identified and a project idea is generated

• APDCC and business work to define project goals

• A team of students is selected for the project engagement

• Project managers to assess current practices and provide actionable item recommendations

Project development Consultant engagement (typically 8-10 weeks)

• Projects may include execution goals for the consultant team

• Monitoring may also be performed to evaluate the strategy recommendations

Strategy monitoring(variable)

Internship project opportunities

market research cost/benefit analysis social media strategies competitive landscape analysis business valuations data analysis

online sales strategies product launch operations evaluations

Value• Businesses and organizations get smart, motivated, professional

degree students to help them! • Students have a chance to apply the skills and knowledge

acquired in the classroom to real issues facing local businesses.

2015 projects

Client Needs: Market development strategy to spur international growth of Biovest’s instrument business

Actions and/or Outcomes:• Evaluate the current position and potential market opportunity for Biovest’s

Instrument business in Europe and Japan• Identify major competitors in these markets and potential distribution channels that

could be leveraged for market expansion • Recommend a market expansion strategy that will help Biovest increase their

instrument sales in these two markets

Client: Biovest

Magic Arms for the World

Q&A

• Website: http://www.umnapdcc.com/• Facebook & LinkedIn:

University of Minnesota Advanced Professional Degree Consulting Club• Twitter: @umnapdcc• Email: apdcc@umn.edu