Make The Most 2012
- 1. How to make the most of your summer internship 2012 – notes (2011 notes in grey!) J-P Martins, Consulting Careers Team 10 May 2012
- 2. Panellists top tips (2012) Be confident – you’ve been through a rigorous assessment process Always communicate and ask for help – but have an idea what the answer might be! Make full use of the firm’s resources Get to know as many people as possible Remember – there is no such thing as a typical case, there are too many variables. Stay flexible Ensure clarity – of tasks, expectations, next steps, relationships of tasks, context Engage fully with other summer interns – they will share invaluable tips It’s a 3-month interview – focus on the impression you make, being a team player Focus on the basics – what you can control • Understand feedback criteria from the start • First impressions really matter • Engage – ‘show-up’ with great attitude Check-in with your Engagement Manager/Principal re how to work with them from Week 1 ‘Own’ the firm – values and culture. Suspend disbelief if you have to, put everything into it Take the initiative – even if ‘on the beach’ • ‘Can I help you?’ • Research the firm and its work • Go out whenever invited 2
- 3. Panellists top tips (2011) Leverage your relationships with junior team members Try to work on projects or aspects of projects that you have some familiarity with Bring a good attitude – work well with people, get the basics right, make no mistakes! Seek and receive feedback, both formal and informal Bear in mind the need to balance project excellence and building relationships 3
- 4. Questions (2012) 4 What % of time do you think you were adding value to the client? I had lots of client engagement, bringing real expertise and value (ZS) On my DD case, we identified lots of tangible value for the client, and my personal slides made it into the final deck We developed a new senior role and capability for a global pharma client, and it’s doing good as well as being good for the business We were able to bring a fundamentally fresh perspective on how the client’s business actually works What shouldn’t you do? Lose momentum towards the end, fail to deliver Ignore feedback or fail to act on it Be tentative in your analysis (go with your convictions) Wait until you’ve finished something before sharing it (be more comfortable taking 10-30% complete work to managers/peers for early feedback) Ask too few questions
- 5. Questions continued (2012) 5 How best to prepare? Don’t party the weekend before starting Meet your peers – get to know the firm, office, culture Clean up your inbox and all pending matters so you can focus 100% on your internship Start relaxed Read • The McKinsey Way • The McKinsey Mind • The Trusted Advisor As questions – there are no stupid questions! Practice your elevator pitch/spiel Talk to last year’s interns (in the same office) – understand the evaluation process
- 6. Questions continued (2012) 6 What are the most important technical skills? Breaking a complex problem down into constituent parts and drivers, then piecing it all back together again Communicating via slides – not PowerPoint per se, but compelling, insightful story-telling • Using Thinkcell, Bain Wizard etc makes drawing the charts easy… Stepping back from the problem Storyboarding your slides before jumping into PowerPoint Navigating your firm’s knowledge • Intranet • Knowledge management teams • Practice teams • Industry primers • Identifying suitable frameworks • Online training (eg ‘how to get up to speed’ training)
- 7. Questions continued (2012) 7 How were you introduced to your case? Big range possible: • Case team meeting • 13MB email and e-tickets • Partner discussion, followed by introduction to Principal If you have any influence, how should you choose your case? Do something different to what you’ve done before! Any time-management tips, and how does it compare with I-banking or transaction legal? Still hectic, but you’re more in control – more continuous deliverables Plan backwards and communicate • Eg priorities, progress, roadblocks Plan your week – diarise frequent check-ins • Diarise coffees, informal chats too
- 8. Questions (2011) 8 What tools should we learn/practice beforehand? Excel and PPT should be enough! Excel (eg pivot tables) - try online training? Thinkcell How encouraging was the environment; why do some not get offers? Good, but don’t expect continual pats on the back; relationships, or consulting not the right fit What are some team ‘dos and don’ts’? Be humble; voice opinions & speak up; make you contribution clear; do what’s asked of you & do it well; don’t try to over-impress/do to much; take part (eg lunch, dinner, social What’s the timing of offers, autumn internships, other recruiting activities? Summer internships should yield offer acceptance deadlines that allow consulting recruiting in the autumn term – if not or unsure, contact Career Services Autumn internships may be later – consult other firms you might want to recruit with well in advance
- 9. Questions continued (2011) How easy is it to switch office post-internship? Possible and there are precedents, but beware annoying the recruiters. Consult with Career Services! How easy is it to participate in recruiting if on exchange in the autumn? Talk to Adeel Hyder/Pooya ? (MBA2011s) about their experiences Possible, in fact better for some geographies, but be proactive & consult with your target recruiters in advance Slight handicap in some circumstances How should you communicate your LT plans if asked during your internship? Be quite open, but reinforce commitment to the development experience Time management – best to execute a slow start and build as you gain knowledge and confidence? Get stuck in – 8-10 weeks is too short a time, and projects move quickly
- 10. Questions continued (2011) What not to do? Try too hard Blow up Abuse juniors Miss a deadline NO SURPRISES! What preparation to do? Take a short holiday Talk to others that interned/worked in the office you are going to Who are the decision makers on offers? Everyone – truly 360 including client Engagement manager, partners No place for anonymity
- 11. Questions continued (2011) How to choose a project? Choice can be limited Make a few staffing preferences clear Use it as an opportunity to understand the staffing system in your firm/office – get to know the person that manages staffing Do Project Leaders/others oversell your capabilities/expertise? Not necessarily Will ‘sell’ you well, but never in their interests to expose you What’s expected of you socially? Lots of opportunity – recommended to take part Mainly around travel if working with remote clients – eg breakfast, lunch, dinner with team mates Make sure you go to Friday drinks, outings/awaydays