University of WaterlooManagement Consulting Club

Consulting Recruiting Guide

2020-2021

Preface

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Contact information

If you have questions or concerns, pleasereach out to uwmcc.case@gmail.com. Thisguide was originally written, edited, anddesigned by:

A note from the team

If you’re reading this, we thank you first andforemost, for your engagement with theUniversity of Waterloo ManagementConsulting Club (UWMCC), our success andgrowth as a club is reliant on the activeparticipation of students. This makes it allworthwhile – for the time of the consultantswho come to our events, the generoussupport from our sponsors, and for the manyfirms who come to our school to recruit.

This guide was written with the intention ofproviding a summary of consulting recruitingfor University of Waterloo students. Wehope that this is of value to your recruitinggoals, whether you’re recruiting for aninternship, full-time role, or seeking moreinformation of the consulting landscape.

The information presented is based on thecollective knowledge of those on the team,including many who have successfullyrecruited for consulting roles. This isinfluenced by our experiences and biases.We encourage you to use this in conjunctionwith other resources to ensure a completeperspective. We make no guarantee ofcontent accuracy, nor do we holdresponsibility for your recruiting outcomes asa result of this guide, positive or negative.

Nikasha Chauhan AFM, Class of 2021Torry Chen CFM, Class of 2021Jawad Khandoker Math/BBA, Class of 2021Helen Liao AFM, Class of 2021Simran Sodhi AFM, Class of 2021

Contents

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1. Introduction

2. Overview of Recruiting

➢ Types of Firms and Consulting

➢ How to Navigate Networking

➢ Recruiting Timelines: Full-time and Internships

3. Application Process

➢ Application Pipelines

➢ Cover Letter Tips

➢ Resume Tips

4. Interviews

➢ Interview Structure

➢ Behavioural Interview

➢ Case Interview

5. How to Prepare

➢ Things to do Before Applying

➢ Casing Prep

➢ Acing Interview Day

6. Next Steps

➢ Navigating Offers

➢ Before you Start

➢ If you Don’t Land an Offer

7. Appendix

➢ Glossary

➢ Virtual recruitment tips

➢ FAQs

Note: Sections and the UWMCC logo are hyperlinked – click section to be directed to specified content, and the logo to return to this page

1. Introduction

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About the University of Waterloo Management ConsultingClub (UWMCC)

UWMCC is a student-run club that connects students with consulting opportunities, workshops,and an environment to meet others with similar interests. The club was founded in 2009 by RahulShahani (Mechatronics Engineering, Class of 2010), who is now an Associate Partner with McKinsey& Company’s NYC office. Since then, we have expanded our reach to an ever-increasing number ofstudents through new and evolving events throughout the years. Some events we having run in thepast include:

• UWMCC Annual Case Competition (most recent was the 11th edition)• Technology Consulting Day• CEO Factory• Workshops (Casing, Data & Analytics, Excel & PPT, Design Thinking)• Firm Office Visits• Resume Critiques & Mock Interviews

To further promote our mission of providing training opportunities, creation of the club’s case teamwas created during the Spring 2020 term by Mona Zhang (Math/Business, Class of 2020), who willbe joining EY Consulting in 2021. The purpose of this newly founded team, in conjunction with therest of club, is to (a) run casing workshops to prepare students for interviews, (b) create resourcesfor the club’s audience, and (c) provide practical skills training.

We believe the continued success and growth of our club is only possible with active participation.If you are a student reading this, we encourage you to consider a leadership role by joining ourexecutive team, and if you are working with a consulting firm, we would be happy to welcome yourinput, presence at our events, and any recruiting related activities conducted at the University ofWaterloo – please feel free to contact us. Our goal is not to make everyone a consultant, but toprovide an opportunity for folks to determine if it’s the right career for them, and if so, connect withthe appropriate opportunities to further advance their goals.

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How to leverage this guide

We wrote this with the objective of being apractical resource for students at theUniversity of Waterloo, which has had anincreasing number of graduates enterconsulting over the preceding years. Theinformation presented, when used inconjunction with other resources, can beutilized as a summary for how consultingrecruiting works.

Each section was composed with theintention of providing the following keytakeaways for the reader:

Overview of recruiting• Understand the types of consulting work

that is done and the different firms• How to approach networking

Application Process• When and how to apply for jobs• Formatting and tips for cover letters and

resumes

Interview Format• Understand how consulting interviews are

conducted since they’re slightly differentfrom other interview processes

• High-level overview of how to navigate acase and answer behavioural questions

How to Prepare• Practical steps for recruiting preparation

Next Steps• Address common questions following

recruiting (e.g., how to pick a firm, whathappens if I don’t get an offer, etc.)

2. Overview of recruiting

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Recruiting for management consulting for University of Waterloo students can be a very differentexperience compared to other careers that most students decide on. A few notable differencesinclude a greater proportion of postings outside of WaterlooWorks, more advanced recruitingtimelines, and a different interview process. Furthermore, even some of the largest consulting firmsare not familiar names if you’re outside of a business discipline. The goal of this section is to provideyou with an overview of the industry and how to approach learning more through networking.

Types of firms

Although no set definition on types of firmsexist, the following groupings are common:

MBBMcKinsey, BCG, Bain: the largest strategyconsulting firms in the industry – projects aredone across all capability areas for largeinitiatives and senior leadership

Other large consulting firmsDeloitte, KPMG, PwC, EY, Accenture, Kearney,Oliver Wyman: other large firms, including theadvisory/consulting groups of the “Big 4”accounting firms, have a diverse set ofcapability areas across many geographies

Specialized Consulting FirmsIBM, Capco, ZS Associates, Konrad Group:medium to large firms with a specialty focus(e.g., tech)

Boutique Consulting FirmsLevel 5, The Black Box Institute, Satov: smallerfirms with a narrower geographic andpractice area focus

In-House/ Internal ConsultingCapital One, PepsiCo, George Weston, Fidelity:larger companies that specialize in internalconsulting for their own business operations

7Note: The grouping on the right panel is not exhaustive of all capability areas and may overlap with other groups

StrategyThe issuance of strategic advice to seniorexecutives has been the cornerstone formany of the oldest and most reputableconsulting firms; senior executives bring inconsultants to help inform their most difficult,consequential decisions across all areas

FinanceConsulting within finance functions supportCFO orgs and initiatives with a major financeimpact; this work includes cash management,M&A advisory, risk management, forensicconsulting, turnaround/restructuring, and duediligence, among other areas

OperationsOperations work has similarities with strategy– that is, how to create a plan and/or policyto achieve an overarching objective. Somecommon areas of focus for operations workinclude optimization of supply chains andlogistics, process improvements, governanceoverhauls, and benchmarking analysis

Human capitalLarge firms and HR-focused consulting firmshave practice areas to support humanresource departments, with expertise inchange management, rewards and benefits,executive search, and org restructurings

TechnologyTechnology consulting has grown in recentyears to guide clients through strategy andimplementations; projects include analytics,architecture, enterprise software, and beyond

MarketingIn an increasingly competitive environment,many firms offer services in digital strategy,marketing analytics, and product design

Type of work done varies across all firms.Consulting is not just about pure strategy;over the years it has evolved into differenttypes of work (i.e. capability areas). The workeach firm does can be split by capability andindustry area. An overview of a few majorcapability areas within consulting is providedon the right panel. Refer to firm websites fora complete list of their specific capabilityareas.

Firm(Entry Level Title)

Service Areas Recruiting Timelines

Recruiting Tips

Analyst

Generalist firm with a broad practice range, including consulting, strategy, and technology, that also works on the implementation of recs

FT: SepSummer: Nov-Dec

Accenture typically recruits for Soft Eng/Tech roles from Waterloo, but tech knowledge is also greatly valued within their consulting practice

Associate Consultant

Generalist firm serving a variety of industries, with a particularly strong Private Equity practice

FT: Aug – SepSummer: Oct – Nov

Common to see Private Equity cases during interviews and cases will tend to lean more on the quantitative side

Associate

Generalist firm with rapidly expanding capabilities across all geographies and practice areas

FT: Aug – SepSummer: Aug – Sep (advanced); Nov – Jan

The group values humility, curiosity, and an analytical approach

Associate Consultant

Boutique firm focusing on tech in the financial services industry

FT: SepSummer: Jan

Questions tend to be more technical, similar toquestions given at a product management interview

Business Analyst/ Consultant (depends

on service line)

Five areas: Strategy, Analytics, M&A; Customer & Marketing; Core Business Ops; Human Capital; and Enterprise Tech & Performance

FT: Sep – OctSummer: Sep (advanced); Jan

Network as Deloitte strongly values this and will ask what events you attended during the application process

Firm OverviewsBelow are brief overviews of firms that have a strong recruiting presence at or numerous alumni from UW. A timeline for full-time (FT) and summer recruitment is also provided, as well as some general recruiting advice. Timelines are subject to change, so be sure to check respective firms for official dates. Note that the next two tables are not an exhaustive list of firms with a UW presence, as some firms like Black Box Institute, SATOV, and London Economics are not listed.

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Firm(Entry Level Title)

Service Areas Recruiting Timelines

Recruiting Tips

Consultant

Key practice areas include Business Consulting, Tech, Cybersecurity, Data & Analytics, Experience Design, and Transactions

FT: Sep – OctSummer: Nov

EY focuses on cultural fit and values candidates with energy and enthusiasm to lead

Associate Consultant

Konrad is a leading firm transforming industries through digital strategy, design thinking, experience design, development and data science

FT/Summer: Sep – Nov

Index on cultural fit and design thinking; bonus given to those who have taken their BrainStation courses

Consultant

Split into six areas: Operations; Finance Transformation; Customer; Technology; People & Change; and Supply Chain

FT: Sep – Oct Summer: Jan

Interview process differs by service line, so make sure to understand the structure of the area you are applying for

Business Analyst

Generalist firm with a wide scope of industries served, with a particularly strong public sector practice

FT: SepSummer: Nov

McKinsey behaviorals (known as PEI) look for 4 key traits: Leadership; Entrepreneurial Drive; Personal Impact; and Problem Solving

Consultant

Generalist firm with strong presence in financial services and aviation

FT: Aug – SepSummer: June

Index on long-term potential of candidates as they don’t have an “up-or-out” policy, and values technical/STEM talent

Associate

Three main branches: Deals; Management Consulting; and Tech Consulting

FT: Sep – OctSummer: Jan

PwC strongly values cultural fit as outlined by their PwC Professional framework

Firm Overviews (Cont.)

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Case CompetitionsCase competitions are an exciting way foryou to work on skills development throughapplying what you know towards a case,usually with a team. Competitions are hostedby a variety of organizations, typicallythrough consulting clubs and schools (withsponsorship from companies). Participating incase competitions will give you anopportunity to network with the judges andprovide potential recruitment opportunitiescommensurate with performance. Some firmshost their own challenges (e.g., KPMGIdeation Challenge, McKinsey Challenge).

Coffee chatsCoffee chats are a casual way to connectwith recruiters and consultants, usuallylasting around 30 minutes in length. It isimportant to start coffee chats in advance ofrecruiting to develop relationships and tohome in on what your interests are bylearning from others. Coffee chats can be setup through reaching out to someone you’reinterested to learn more about1 via LinkedInor email. During chats, try to engage with theperson you’re meeting in a friendly manner –avoid being overly transactional!

Some courtesies to keep in mind include:• Send a calendar invite to book the chat• Arrive 5-10 minutes early• Do your research and come prepared with

questions• Dress appropriately• In a virtual scenario, turn your camera on

to be more interactive• Send a thank you email within 48 hours

after the coffee chat

Opportunities to meet firms

Many firms hold on-campus recruiting eventsat the University of Waterloo. Firm infosessions and networking events are postedon the CECA website and WaterlooWorks.There are additional recruiting relatedopportunities through challenges, firm days,and networking held outside of the UWecosystem, which can be found by followingUWMCC and firms you’re interested in.

Info sessionsInformation sessions are events that providean overview of a firm’s work, culture, and keyselling points to prospective candidates,followed by a brief networking session. Theseare coordinated by CECA, or by the firmsthemselves. This is an opportunity to learnmore about a firm and what makes themunique, and if it matches what you’re lookingfor. Connect with representatives of the firmduring networking and follow-up afterwardsto stay connected.

Firm daysFirm days, also known as office tours, allowyou to meet consultants and learn moreabout a firm, similar to an info session, butinclude a tour of the office and typicallyextend longer in duration. Transportation andrefreshments are provided for these events.During the networking portion, connect withprofessionals from your area of interest, askvaluable questions, and follow-up afterwardsvia email or LinkedIn.

1. This can be done via a short LinkedIn message or by sending an email – be considerate and (a) reach out with ample notice before you’d like to meet, (b) keep the chat to 30 minutes, and (c) send a calendar invite

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Networking best practices

Once you have navigated your way towardslearning more about the consultingfirms, some networking best practices to helpget the most out of your experience include:

Aim for quality over quantity of connections:• Connect with professionals from the areas

you’re interested in and focus ondeveloping quality relationships instead ofmany lukewarm relationships

Follow-up with people over time, not justwhen you need them:• It’s important to maintain the connections

you have built – reach out to folks youhave connected with from time to time towish them well (e.g. happy new years)and/or for a chat

• Another great way to connect is to bemore personal overtime (e.g., ask abouthobbies, plans, etc.)

• Avoid reaching out only when you need areferral from someone

Add strategy to your coffee chats• Due to the limited time consultants have,

try to go into chats with a goal in mind toguide the conversation and your “ask”

• Examples of objectives from a coffee chatmay include asking for a mock case orasking to connect you with another personfrom the firm

Update contacts about your progress:• Your connections love to hear about your

career progress, especially if they wereable to help you during your journey

Networking is useful for learning about which firms and/or roles you’re interested in, and a great way to meet people

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Recruiting timelines

Summer internshipsSummer internships range from 8 to 16 weeks duration and are used by firms as a hiring pipeline toconvert interns into full-time hires; it is the most common entry point to the industry. The recruitingcycle takes place during late-autumn and into the winter for most firms. Additionally, many firmsalso have an advanced recruiting cycle which occurs during late-summer – this is mostly utilized tosign top candidates early and for schools with unique considerations. Applications for summers aregenerally open for a couple of weeks and are preceded by info sessions and other networkingevents hosted by the firm. Interviews will take place a few weeks after applications close, withoffers being extended shortly after final rounds.

Full-timeFull-time recruiting takes place during late summer to early autumn for most firms. Consequently,it’s important to keep track of dates for networking events and applications to ensure that you don’tmiss out on anything. Offer decisions and welcome weekends usually wrap up by end of October.

Illustrative of summer and full-time recruiting dates:

Off-cycle internshipsOff-cycle internships take place outside of the summer school break and are increasingly commonto accommodate for students in co-op programs, who may not be available for a traditional summerinternship. For off-cycle internships, it is important to look for postings on WaterlooWorks underco-op/other-hire and to check firm websites to see job postings for these opportunities. Due to thesmaller scale of off-cycle internships, offerings and timelines for recruiting are subject to changemore frequently than summer and full-time recruiting – pay special attention to specific deadlines.

July JanuaryAugust October November DecemberSeptember

Sum

mer

Fu

ll-ti

me

Summer receptions

Applications1 Interviews1

1. Advanced recruiting2. Welcome weekend invitations extended to offerees only

Applications Interviews

Summer receptions

Applications Interviews

Info sessions / firm days

Winter welcome weekend2Fall welcome weekend2

3. Application Process

131. Considerations reflect conversations with consultants and advice provided on Fishbowl

The application marks the start of the officialrecruiting process. This involves submissionof your application package containing yourcover letter, resume, and transcript throughvarious pipelines. This section will discussthings to noted during the applicationprocess, including tips for crafting yourresume and cover letter to be morecompelling.

Before you apply

Before you apply, we recommend you startwith researching firms and/or roles ofinterest. Some ideas to consider include:

• Schedule coffee chats & attend infosessions/networking events tounderstand:➢ Firm culture➢ Resources and opportunities➢ Miscellaneous: staffing model, travel

frequency, mentorship, etc.• Follow-up with people you talked to at the

firm to update them with your progressand ask for referrals, if comfortable➢ Most consultants consider the

following1 when asked for referrals (a)do I like this person, (b) would they besomeone I’d like to work with, and (c)do they have a reasonable chance ofpassing at least first round interviews

• Seek input from others to review yourresume and cover letter

The application package for consulting firms generally include 3 components: resume, cover letter and transcript

Application pipelines

Firms’ Website: Most firms require anapplication submission through their website,regardless of how you found out about theiropportunities.

WaterlooWorks: Most summer internshippositions are not available throughWaterlooWorks. However, off-cycleinternship positions for select consultingfirms are available on the portal. Rememberto stay up to date on CECA important datesand double check your application packagesto avoid submitting the wrong cover letter!

LinkedIn: Many firms will post positionsavailable for application via LinkedIn andother career platforms to redirect you totheir website.

Network: Stay in touch with your networkingcontacts for updates on recruiting timelinesand for referrals.

14Note: Click cover letter to follow link

Cover letter tips

The cover letter provides an opportunity toexpress your interest in the firm, develop apersonal story, and showcase experiences inmore detail – expanding on experiences thatyou didn’t get to present in your resume.However, depending on the firm, coverletters are not always required forcandidates. Although the cover letter isimportant, do not overstress about it – usageof the points illustrated below and adherenceto a basic structure for developing your storywill keep your bases covered.

Formatting & StyleInclude firm name and address at the top• Keep it under 400 words• Include a letter signature in the end

Suggested Content

Section 1• Brief introduction of yourself• Include position/firm you’re applying to• Include how you know about the firm

(events attended and people you havespoken to) and why you’re interested

Section 2• Talk about your experiences and skills

developed in more details (maximum 2-3experiences, focus on quality overquantity)

• Include some skills you didn’t get toshowcase in your resume

Section 3• Restate your interest in the firm and

summary of your skills• Close with expression of gratitude for time

and consideration

Example Content Structure

Introduction• Introduce yourself• Indicate why you’re

interested in the firm

Experiences• Construct your personal

story and achievements • Include the skills developed

Conclusion • Summarize and conclude

Sample Cover Letter

15Note: Click resume to follow link

Resume tips

Your resume shows how you want to presentyourself to the firm you are interested in. It isan opportunity to showcase your experiencesand skills developed. There is no uniform wayto writing a resume, however, it isrecommended that you follow a generalformat that is widely used in theindustry that is easy for the recruiter tofollow. Your resume should demonstrateclarity and be engaging. Since recruiters willbe screening numerous resumes, therecruiter should be able to easily grasp yourstrengths through the highlights of yourresume. This section provides some generaltips for resume writing.

Formatting & styleConsulting resume formats allow for somecreativity, but utilize these general guidelines:• Follow a widely used resume format (may

refer to resume templates recommendedby business schools)

• Avoid personal pronouns• Use bullet points to describe experiences

and be concise• Use numbers where you can• Leverage whitespace for readability• Ensure consistency with formatting• Keep your resume to 1 page• Keep font to a minimum of size 10

ContentRecommended resume structure:• Education• Work Experience• Extracurricular experience• Additional Information

Recommended structure for bullet points:responsibility, action, results• Begin bullets with strong action verbs• Quantify the results if possible (e.g., %

reduction in cost, $ of fund raised, etc.)• Be specific with actions, ensuring people

without context can easily understand• Organize experiences from latest to

earliest• Include key skills/traits outlined in the job

Final note• Ensure no spelling or grammar mistakes• Ensure consistent formatting• Ask for feedback from consultants, upper

years and your peers, make sure yourresume is easy to read and understand

Sample Resume

4. Interviews

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Although consulting interviews vary acrossfirms, location, and role – they generallycomprise of two major components: abehavioural interview and a case. Thissection will cover what to expect during theconsulting interview process.

Interview structure

Interviews are conducted across 2 or morerounds for both full-time and internshiprecruiting, with each round consisting of 2separate interviews. An individual interviewcan last anywhere between 30 minutes to 1hour with the following structure:

• Introduction (3-5 minutes)• Behavioural questions (5-15 minutes)• Solving a case (20-30 minutes)• Q&A (~5 minutes)

The overarching objective of the interview isfor the firm to learn more about a candidate,their experiences, and understand how theysolve problems. During the interview,candidates will be evaluated on severalmetrics. This includes effectivecommunication, listening skills, positiveattitude, comfort with analysis, curiosity, andcreativity. Importantly, an interviewer willalso consider what it will be like to work withyou, which is especially important given theteam-oriented nature of consulting roles.Lastly, the interview is also an opportunityfor you to ask questions about the firm andyour interviewer’s experiences.

Note: Read about a firm’s interviewing information on their website for the most up-to-date information

Intro(3-5 Mins)

Case(20-30 Mins)

Behavioural(5-15 Mins)

Q&A(~5 Mins)

Illustrative: Interview format

Casual conversation prior to interview

Assessment of fit, experiences, and communication skills

Assessment of how candidate solves problems

Opportunity to ask questions about the firm or interviewer

17Note: Read about a firm’s interviewing information on their website for the most up-to-date information1. Some firms conduct group interviews and/or take-home case studies – touch base with your recruiter for specific info

First round interviews1 – depending on thefirm – are conducted either on-campus,virtually, or at their office. A member of therecruiting team will reach out to set up a dateand time of the interview. Even if applyingthrough WaterlooWorks, many firms runinterviews outside of the school system so beextra vigilant to pay attention to your emailand upcoming interview schedule!

Most first round interviews will consist of 2case-based interviews, of ~45 minutes each.You can expect to be asked behavioural/fitquestions preceding or after the case portionof an interview. Specific details on interviewformat and preparation resources willgenerally be provided in advance ofinterviews to adequate time for preparation.

Following first round, expect to wait for up toa few days (and as soon as an hour) to hearback about moving forward. This is usuallycommunicated through your phone numberprovided (keep an eye out for calls and voicemail) – with a follow-up email forconfirmation details, if proceeding forward.You can expect to receive feedback from firstround interviews, successful or not.Furthermore, many firms will also paircandidates with a “mentor” between first andsecond rounds. This is done to providepreparation support and answer candidatequestions in a casual, non-evaluative context.Firms index heavily on fit and want you tohave the best recruiting experience possible,so ask your paired mentor any questions thatcome to mind!

Interview mentors/buddies

Consulting firms want to ensurecandidates have a positive recruitingexperience. Aiding this, you will likely beassigned a “buddy” during your recruitingprocess, who will assist your preparationand answer any questions. Your buddy’srole is typically non-evaluative, so utilizethe opportunity to ask anything!Furthermore, post-interview coffee chatsare also common and a great way to learnmore about the firm.

18Note: Read about a firm’s interviewing information on their website for the most up-to-date information

Second round interviews are commonly thefinal round (also known as “decision round”)of interviews for most firms and areconducted on-site, with transportation andaccommodation provided for. Some firms willalso host a welcome event for candidates tolearn more and meet current employees.

The format of second round can be verydifferent from first round, depending on thefirm and the interviewer. You can expectmore focus on your overall polish, since theyknow you can case based on first roundresults. A key question to consider from theinterviewer’s point of view is whether thecandidate is someone they would (a) enjoyworking with, (b) is able to take ownership,and (c) can be placed in front of a client.

Finally, your second-round interviewers willlikely be senior members of the firm, oftenthose at the partner and/or director level.Despite the seniority gap between yourselfand the interviewer, it is important to projectconfidence and candidness. Furthermore, thedirection of the interview, especially thecasing portion of it, could take on a differentapproach from standard cases. Be prepared toexpect anything ranging from a high-level caseon a project they previously worked on (e.g.“our client has asked us whether they shouldenter the commercial banking market inChina, and we have no other information”) toa casual conversation on the news and topicsof interest.

Offer results will be communicated withindays of your final interview. Following this,some firms may host a “welcome weekend”where offerees are given the chance to meetcurrent employees and are entertained.

Be ready to expect anything during your final round interview but most importantly, remain composed, confident, and structured

19Note: Read about a firm’s interviewing information on their website for the most up-to-date information

Behavioural Interview

The behavioural portion of a consultinginterview is an opportunity for the firm tolearn more about you and your experiences.This typically lasts no more than 15 minutesand is conducted either before orimmediately after the case. Commonly usedbehavioural interview questions followcertain themes – it is a good idea to preparestories that you can pull from during yourinterview. You can expect follow-upquestions based on your responses so it’simportant to speak to things you have adegree of comfort with. Some firms, includingMcKinsey, dig deep into the stories that youtell – it’s crucial to be honest and thoughtfulabout what you convey during your answers,so that you’re able to accurately speak towhat you’ve experienced, and be reflectiveabout your experiences

Tell me about yourself is the most commonquestion asked during interviews. Youranswer should include information what youhave done in the past, who you are now, andwhere you’d like to go. Be sure to includerelevant experiences, why you’re interested,and key inflection points during yourcareer/education.

Why consulting / our firm is asked tounderstand why you’re interested in the roleyou’re interviewing for. It is important tounderstand the type of work, culture, andworking style of a firm to inform yourresponse and what about that makes youinterested. Exercise structure and tying in ofrelevant experiences in your response.

Tell me about a time when [you worked on ateam, showed leadership, failed, etc.] typequestions are a chance for you to talk aboutyour experiences. Consider the commonlyasked questions and be sure to think aboutstories you can speak to in an interview.During your response, be cognizant to:• Answer in a structured, concise manner

(e.g. STAR approach – situation, task,action, result)

• Show leadership, curiosity, and learning• Be your authentic self! Avoid sounding

over rehearsed and bring enthusiasm• Quantify outcomes, if applicable

What do you think… [are components of astrong team, what Jeff Bezos thinks about,news event xyz, etc.] questions could also beasked. Take a pause and answer as youwould with any other question – withstructure, enthusiasm, and conciseness.

Provide context

Sample answer framework (i.e. STAR)

“I was working in a difficult group project for class”

“The team was underperforming, with no leader”

“I took initiative to plan and align team on xyz goals”

“The team got an A+ on the project”

Tell action you took

Frame the complexity

Convey results

20Note: Read about a firm’s interviewing information on their website for the most up-to-date information1. Case from Darden 2018-2019 casebook

Case interview

Casing is perhaps the most distinguishingfeature of the consulting interview process. Acase is a problem-solving exercise, usually ofa project the firm has worked on in the past,condensed down into a 30-minute format.The key emphasis is on understanding howyou solve problems. Cases are used forinterviews since it is one of the bestrepresentations of what the job will entail.Chances are that if you enjoy casing, you willenjoy consulting!

Success criteria for a strong casingperformance include the following:• Structured approach to solving a problem• Accurate, timely, and insightful analysis of

information• Creativity of thinking• Communication

Practice interview cases can normally befound on a firm’s website, along withguidance on how to prepare. Commonthemes include profitability, growth, marketentry, industry assessment, operations, andM&As.

Example case prompt1:“Your client is a large transportation andlogistics company that delivers freight. Overthe last five years, the company hasexperienced rising costs due to increases inwages resulting from a shortage of truckers.The client is now looking to reduceoperational costs. How would you advise theclient?”

Components of a case can be broken down into the following:

Prompt and clarifying questionsBackground of the problem you’re solving – ask questions to confirm your understanding

Framework Take time to “structure” the problem (i.e. how to approach it)

Exhibits / analysis When relevant, information will be provided for you to analyze – use to drive towards insight

BrainstormingYour interviewer may ask you “what else” to consider other ideas

ConclusionWrap things up by presenting your conclusions, supporting analysis, and any risks / next steps

Link to Bain case interview example

5. How to Prepare

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Things to do before applying

Most firms will host an information session prior to applications opening – it’s a great idea to checkthese out to meet people and to learn about the firm, which will help you craft a more compellingstory for your application. Information sessions for full-time and summer internships are held mid-summer, with some being held mid-autumn as well. Sometimes these events require a shortapplication process. Firms recruiting on WaterlooWorks will typically have their informationsessions during the first month of each school term – refer to the CECA website for an up-to-datelist of events.

Prior to submitting your application, double check that your resume and cover letter are absent oferrors. The following check list can be used to do this:

• Print off a copy of your application for an easier time spotting errors during review• Scan cover letter for correct names, dates, and firms• Read resume bullets aloud to ensure logic• Scan resume for formatting• Reach out to mentors to polish up your application• Submit and relax!

221. The listed resources are based on our opinion, we are not sponsored or affiliated with the linked materials

Casing prep

Note from the team: case preparation is aunique process – which will vary dependingon your background and goals. Mostsuccessful candidates we have spoken withhave practiced 20+ cases during theirinterview prep. Remember to maintain a logof all cases done with feedback, to track yourprogress and areas for development. Aim torun cases with your network of consultantstowards the end of your prep for final polishbefore interviews. Casing is an accurate,albeit condensed, depiction of consulting, soif you enjoy casing, chances are that a careerin consulting could be the right fit for you.

Getting started can be intimidating given thewealth of information available. The goodnews is that there are an abundance of folkswho are happy to help anyone interested incasing prep! If it’s your first-time preparing,we strongly encourage you to (a) seekdirection and mentorship from someone withmore experience and (b) find a casing partnerwith similar goals to run cases with. Weadvise against starting by practicing cases inisolation since it’s difficult to self-evaluateobjectively without prior casing experience –it’s okay if your first time running a case withsomeone goes poorly – the importanttakeaway is to get feedback and improve!

To find a casing partner, you can attendevents run by clubs such as ours to meetfolks with similar goals, reach out to people inyour network to ask if they know anyonewho is also casing, and post in relevantgroups (e.g. SAF Class of ‘23). Furthermore,it’s extremely valuable to reach out to alumnito run cases with at consistent intervals –they can provide solid feedback to work off.

Administering cases is a valuable skill to havefor you and your casing partners. The abilityto provide insightful, actionable feedback willdrastically increase the development of yourcasing proficiency. To get started, refer toavailable resources to read/watch how tosolve a consulting case, and have anexperienced caser run a case with you. Whenadministering a case for others, a generalchecklist can be used to guide your role:

1. Ask the interviewee if they have specificfeedback or an area of focus

2. Confirm that they have not already donethe case you intend to administer andreview it

3. Exercise professionalism; guide theinterviewee if they get off track

4. Take time to review feedback:• Point out specific examples for

feedback, positive or negative• Break down performance across case

execution, communication, andbehaviourals

Resources to aid in your preparation areplentiful – due diligence what you use sinceresources can be outdated and/or lacking afit for your goals. The following are a subsetof resources we believe are worth checking1:• Firm websites• CraftingCases• RocketBlocks• Victor Cheng – Look Over My Shoulder• Vault Guide to the Case Interview• Darden 2018-2019 Casebook• Fuqua 2016-2017 Casebook• Kellogg 2012 Casebook• Wharton 2017 Casebook

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Acing interview day

What to expect will vary across firms – your recruiting contact will send you a schedule ahead ofyour interview. Be sure to arrive early to check-in and take some time to set aside your belongings,grab a refreshment, and relax. You can expect to be handed information cards of your interviewersthat you can review while you wait. Following the interview, some firms will book a coffee chat withone of their employees for you.

What to wear to the interview is commonly accepted to be a dark-coloured suit for men and a darkblazer + dress shirt for women (or any combination that is business formal). A comfortable, clean,well-fitting outfit can be decisive for your confidence during interview day.

Virtual interviews are utilized to accommodate candidates if in-person interviews are unable to bescheduled and have been the default following the COVID-19 pandemic. We encourage you tohave a set up with good lighting, clear audio, and no background distractions – be sure to give it atest run before your interview! Although your interview is virtual, outside aids (e.g., calculator, Excel)are not to be used unless otherwise specified – doing so will result in automatic disqualification.

6. Next Steps

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Navigating offers

If you have received an offer,congratulations! We hope you are as excitedwe are for you and encourage you to setaside some time for celebrating. Althoughreceiving an offer signals a “successful”recruiting outcome, there are a few things tokeep in mind, whether you’re decidingbetween different offers or wondering whichnext steps to take.

After receiving an offer, expect at least acouple of folks from the offering firm toreach out with their message ofcongratulations. If you have any questions,take this as an opportunity to learn moreabout the type of work to expect, staffingmodel, mentorship process, or anything elsethat’s on your mind. At this point, the firm isinterested in helping you make the rightdecision for yourself, while trying to convinceyou to sign (after all, they have spent plentyof effort to recruit you), so absolutely do askanything that’s on your mind.

Offer details are sent a few days afternotification of results with up to 2 weeks(and sometimes longer) for you to make yourdecision. If you have competing offers, firmsmay expedite your offer details and “sell youthe firm” earlier on. Furthermore, some firmswill also host “welcome weekends” for theirofferees. These are events spanning Fridayto Saturday where you’ll be invited, alongwith the other offerees, to various events toshow you the best the firm has to offer –including nice accommodations and meals.

At large consulting firms, there is little to nonegotiating room for offers since they havecommon salary bands for employees.Compensation figures can be found online. Inaddition to salary and bonus bands, it’s worthlooking at differences in benefit packages,RRSP contributions, and expense policies, asthey can move the needle for totalcompensation / lifestyle at entry levels.

Deciding between offers is an enviableposition to be in. We suggest indexing yourdecision based on where you think you’ll besuccessful – which means where you felt thebest connection with the folks you met, thetype of work that’s done, and other areas youcare about (e.g. travel, staffing model).Although it’s based on individual preferences,we do caution against overfitting yourdecision based on small differences in“prestige” and compensation.

Remember to take some time to celebrate and thank your mentors

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Before you start

Prior to starting, you may have manyquestions on what to do to ensure that youhave an enjoyable and successful experience.The best advice we can give is to startnetworking with folks at the firm you’rejoining. This allows you to build lastingrelationships at your firm, gain context onwhat to expect, and improve your staffingsituation upon joining. A great place to startis to reach out to your mentors duringrecruiting, people that interviewed you, andfolks with a similar background to yours.

There is often no need to start ramping upon skills prior to starting (but double check!)since you’ll be provided with training onceyou begin. Rather, go in with a positiveattitude – be ready to face challenges andlearn.

Most importantly, be cognizant of the factthat consulting can be a demanding career.Consequently, spending quality time withfamily and friends before you starting work isencouraged (as well as after you start work!).Furthermore, we strongly recommend takingthe time to invest in having a good livingsituation, so that your living logistics doesn’tcontribute additional stressors. Avoiding sub-optimal roommates and long commutes,among other things, should be kept in mindas you prepare for your start date.

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If you don’t get an offer

It is totally okay if you don't land a consultingduring your first try – many people brokeinto consulting after several attempts. If youwere unsuccessful at internship recruiting,there is still full-time recruitment to targetand if unsuccessful still, experienced hirerecruiting remains an option. Be sure to stayin touch with the people you connected withduring the recruitment process and focus onbuilding long-term relationships. Followconsulting firms on their media platforms tostay tuned for events and opportunities andcontinue meeting people in the industry.UWMCC regularly posts information relatedto networking events, case competitions, andexternal opportunities – follow us onFacebook, LinkedIn, and Instagram for info!

Full-time recruitingIf you did not receive your desired internshipoffer, you can still recruit for full-timepositions. Full-time recruiting applies tograduating students from undergrad, MBA,and advanced degree programs. Recruitingtypically starts a year in advance of startdates, which falls into late summer and earlyautumn for most firms. Consulting firms willhold on-campus hiring via info sessions andjob postings. Recruiting season can bestressful, so become familiar with timelinesand prepare ahead – be sure to have yourresume and cover letter ready by the timeapplications open. Build your network leadingup to recruiting and action feedback fromprior interviews if you were unsuccessful.

Experienced hire recruitingIf you didn’t land a consulting offer right outof school, there are further opportunities toenter your target firm as an experienced hire.Experienced hires are usually people with 2or more years of full-time experiences, withpositions available based on firm hiring needswith respect to work pipeline and expertise.Therefore, it’s essential to stay connectedwith your network to stay tuned with anyupdates on position openings. Referrals arecommon among experienced hires to get aninterview at their desired firm. Lastly, targetMBA programs are another option forpivoting into consulting or to a different firm.

Other careers with similar workThere’s a variety of other career options withwork similar to consulting. Options include,product management/marketing, corporatestrategy, business operations, private equity,and portfolio management.

Concluding Thoughts

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We hope that you found value in the contentpresented in this guide. As noted before, weencourage you to use this in conjunction withother guides, casebooks, and recruitingresources for a complete picture of what toexpect. Please remember to apply theinformation presented accordingly, sincerecruiting experiences will differ by person,program, firm, and targeted position.

As you prepare for and go through recruiting,we encourage you to keep track of upcomingevents and application timelines, since theyare subject to change. For instance, full-timerecruiting for many firms was more advancedfor class of 2021 graduates due to a lack ofin-person networking events to precede it.You can remain up to speed with pertinentupdates by staying in touch with consultingclubs such as ours, following firms you’reinterested in, and staying in touch with yournetwork. Furthermore, WaterlooWorksrecruiting timelines and formats are alsosubject to change, as evidenced by the Fall2020 term. As such, if you’re recruiting viathe co-op program, we encourage you tolook at CECA important dates prior to eachterm and allow yourself adequate bandwidthto recruit while maintaining progress in yourstudies.

AcknowledgementsUWMCC would like to thank to following alumni for their help in editing this guide. Their help was provided on an individual basis and is greatly appreciated.

Finally, during networking, remember thatyou are building genuine relationships withthe people that you meet. Establishing astrong connection with consultants and evenother students, is an enriching experience inthe present and for the future. Consulting isnot a large industry – your reputation has thepotential to carry forward through recruitingand beyond. Furthermore, the connectionsyou make while networking can turn intomore than just a professional relationship, butinto personal friendships and even long-lasting working relationships. The upper yearstudents you meet now could be runningcampus recruiting when you’re looking forwork, the consultant you met at a firm infosession could be your interviewer or co-worker, and the other students you meetcould be newfound friends.

Thank you for reading this. We wish you thebest of luck in your recruitment journey!

Minghao JiElectrical Engineering,Class of 2019

Sameera KarriBiomedical Science,Class of 2015

Robert MaronowskiApplied Math,Class of 2020

Cherrie ShiMath/CPA,Class of 2018

Glossary

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80/20: Concept that 80% of results areattributable to 20% of the inputs; i.e. 80% ofwork can be done with 20% of efforts

Agile: A methodology for deliveringtechnology, usually software, solutions thatrelies on self-governance and collaborationacross teams, with iterative development

Beach/bench: Refers to a consultant that isnot actively staffed on a project (i.e. sittingon the bench)

Big 3 / MBB: McKinsey, BCG, and Bain –frequently grouped together as the 3 largestconsulting firms

Big 4: Deloitte, PwC, EY, KPMG – known asthe Big 4 accounting firms, all of which havegrowing advisory/consulting practices

Boutique: Consulting firm with more focusedgeographic and capability areas

CAGR: Compounded annual growth rate,which means the rate of annual growth withcontinuous compounding

C-Suite: Executives at the highest echelons ofan organization, usually reporting directly tothe board of directors

Deck: Another term for a set of PowerPointslides

Double click: Deep dive something foradditional detail and/or context

Engagement: A project that is done for aclient by a firm; also known as a case (BCG,Bain) or study (McKinsey) based on firm

Exit opportunity: Career opportunities thatexist after consulting (e.g., CorporateStrategy, Entrepreneurship, Private Equity)

High-level: A big picture view of things (i.e.you might see just a city from 30,000ft, butindividual neighborhoods and higher detailfrom 3,000ft)

MECE: Mutually exclusive, collectivelyexhaustive – covers all bases of a problemwithout overlap

Opportunity cost: The loss of value extractionby foregoing one option in lieu of another

Partner: A senior person within a consultingfirm; most firms are partnerships (notableexception of OW and Accenture), wherepartners own a portion of equity in the firm

Secondment: Sponsored exchange by yourfirm to work at another organization

Summer: Another term for an intern

Top-down: Approach and communication ofsomething based on the high-level view andworking down

Up or out: Employee retention/promotionmodel used at many firms, where consultantsare expected to receive promotion or leavethe firm at recurring intervals

Value-add: The amount of incremental valueresulting from a piece of work

Workstream/module: A specific piece ofoutput and/or analysis that a consultant isresponsible for as part of a larger project

Virtual recruitment tips

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Getting the most out of virtual eventsRegardless of the type of event, we stronglyencourage you to actively participate inevents where there is a presence from firmsand their consultants. Although it’s awkwardto unmute and speak in a large virtual room,it’s imperative to participate since manyconsultants take note of participation and seeit as a signal of your interest and confidence,giving you an excellent opportunity to standout. Furthermore, simply attending virtualevents is key, since they’ve effectivelyreplaced in-person events of the past andhave the added benefit of being logisticallyeasy to attend.

Networking virtuallyWe believe that virtual networking has manyadvantages if fully utilized, here are our tips:1. Make the effort to reach out and meet

people, especially in the absence oforganic, in-person encounters

2. Focus on staying engaged during socials,coffee chats, and other events – peoplenotice when you’re distracted (even if it’sjust a glance at your phone) and it’s justas disrespectful virtually as it is in person

Setting up for successful video callsThe largest challenge with speaking tosomeone virtually is the lack of non-verbalcommunication. Here’s what you can do tomake the most out of video communication:1. Have a clutter free background – a blank

wall works, or if you are using a virtualbackgrounds, keep it professional!

2. Look at the person you’re speaking withand not the video of yourself

3. Call from an isolated, quiet environment4. Use headphones or earbuds for the best

audio experience

3. Respect the time of others – avoidexceeding the time box of your chatseven if the other party doesn’t stop you

4. Smile and be genuine ☺

Virtual case interview best practicesCasing relies heavily on communication ofideas between yourself and the interviewerdue to its interactive nature – this is mademore difficult when done virtually. Wesuggest the following tips for strongercommunication and casing:1. Write down your approach/framework,

as you would normally, and hold up foryour interviewer to see

2. Listen carefully and confirm yourunderstanding when unsure

3. Speak slowly and clearly, focusing onyour structure and top-downcommunication, to help your interviewerfollow your thoughts

4. Test your camera and speaker setupbeforehand to confirm volume, lighting,and eye contact is sufficient

5. Avoid using prohibited resources, even ifyou think it won’t be noticed

Virtual first round interviewsA lot of firms will utilize virtual technology(HireVue) to conduct their first-roundinterviews. These will typically consist of pre-recorded video or written behavioralresponses, short cases, and game-basedassessments. Standard behavioral questionadvice applies, but as these are pre-recordedand generic, pay close attention to commonlyasked questions (e.g., tell me about yourself)and brush up on the firm’s vision and values,as questions often draw from there. Asalways, remember to speak slowly and smilewhile focusing on your camera.

FAQs

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Do firms have minimum GPA requirements?Some firms might have certain GPAthresholds, but this isn’t a strict requirementand will vary based on the firm. Some firmsmay adjust for the varying levels of difficultycertain programs have over another.Generally, GPA is commonly used as astandardized way to reduce the hundreds ofapplications they receive, as they havepreviously seen positive correlation betweenhigh performance and high GPA.

What can I do to mitigate a low GPA? Themain priority should be to get the GPA ashigh as you can ahead of recruiting,especially if an upward trend can bedemonstrated. If that is not possible, it isimportant to showcase impactful workexperiences and proven leadership skills. Inaddition, networking becomes important tocontinue demonstrating interest in the firmand crafting a good story of why consulting.

Are firms looking for in depth knowledge of aparticular industry? Most firms will hireconsultants as a generalists and look forimpactful work experiences vs. experiencesin a particular function or industry. However,some firms with a specific focus (e.g. ZS inhealthcare) or some specific consulting roles(e.g. Tech) may require certain backgrounds.

How can I gain a deeper understanding ofvarious industries for case interviews? Firmsaren’t testing industry knowledge, so goodclarifying questions should be enough tounderstand key details. However, mostcasebooks will often have high level industryoverviews that provide good context of keyterms, players, and metrics. Reading the newsis also a good way of staying informed.

What sort of work experiences do consultingfirms value? Firms generally look moretowards the impact of the role versus thetype of role; however, some roles generallytend to demonstrate this better than others(e.g., investment banking, productmanagement). Reputation is also a factor,since it signals vetting of prior qualifications.

Are there any clubs or activities that I shouldbe doing? Consulting clubs (like UWMCC!) orpro-bono consulting groups are a great wayto probe into your interests in consulting anddiscover opportunities in the field. However,in general, you should partake in activitiesyou enjoy doing, as this will allow you toshare more meaningful experiences ininterviews and can naturally lead to increasedinvolvement in a leadership role.

What if I successfully go through recruitingand later realize consulting is not for me? Thatis okay! If this is your fear, a good way togauge your interest is to assess how muchyou enjoy practicing cases, as this can closelymimic the experience on the job. Additionally,a lot of the skills gained through consultingare transferrable and applicable to manycareers, and the experience can lead to manyother opportunities.

How are Case in Point and Victor Cheng asResources? While these are valuable sourcesto sift through as a starting point, we believethat these tend to be flawed in theirapproach and can lead to poor practices.While we don’t endorse any content, we doencourage you to conduct due diligence onthe sources you do use to understand bothpros and cons.

University of WaterlooManagement Consulting Club