Sarah Johns (graduated 06) tells beyondoxbridge all about her role as a strategy consultant for Oliver Wyman.

When did you start thinking about management consultancy?

I started thinking about careers at the beginning of my last year in university. Management Consultancy seemed to fit what I was looking for - a varied, project based job that would enable me to learn more about the financial industry, develop quickly, and enable me to travel to different countries.

What attracted you to the sector? Is it what you expected?

I was attracted to financial consultancy because I had previously done a banking internship in Strategy. I had enjoyed it immensely, but didn't want to be limited to dealing with the problems of one bank. I also wanted to gain exposure across many banking divisions and financial clients. Oliver Wyman offered that and it’s been more than I expected. My limited banking experience didn't prepare me for the wealth and diversity of the projects on offer here; there are opportunities to help clients in any financial area, with any of the issues that are facing them.

What was your degree subject? How useful has this been to your work?

I read Philosophy, Politics and Economics. To be honest, much of what I learnt at university hasn't been directly useful to my job. Economics has helped me to work through and understand the impact of events on my clients, but in no way is my degree fundamental to my performance in this job. However, the skills of analytical thinking and assessment, the ability to turn ideas into action quickly, and the all important ability to document ideas clearly, logically and consistently at pace have been extremely useful.

Why did you choose Oliver Wyman? What differentiates them from others in the sector?

I chose Oliver Wyman because whilst I liked the idea of project based work for a variety of clients, I wanted to specialise in the financial services, an area I knew I wanted to work in at a later date. I also chose them because they offered a degree of international travel - our company staffs globally so I've spent time in places as diverse as South Africa to Edinburgh.

The firm's focus on financial services means that we are specialised in an industry that is sometimes accused of over generalising. It means the work we do with the very best in the industry, does have an impact, and addresses some of the most pressing problems facing the financial services industry as a whole, particularly interesting given the current economic climate.

What's a typical day or week for you?

As a consultant, your day varies immensely.

A typical week depends on the client, the project, the location and the stage of the project you're at. I've been on a project where I've been based in London, a ten minute walk from my house, and working from 9 til 5pm. I have also been on a project in South Africa, where I was working double those hours, but spending my weekends on safari, or wine-tasting in Cape Town.

Generally though, as a consultant there are three main roles.The first is analytical, you will most likely be in charge of any data that the client has given the firm, and be responsible for building the models used to analyse the data. The second part is presentation. The analysis you perform for the client will be communicated to them through powerpoint presentations, memos, or even verbally through a meeting. As a consultant it is your responsibility to draft these messages. Finally, one of the most challenging aspects of being a consultant is that you generally face the client three or four days a week. A good working relationship is paramount, and an effective consultant will contribute to building and strengthening that relationship.

Can you tell us a bit about the application process and interviews?

The application process requires a covering letter, a CV, and some basic answers on educational background. If your application is successful, the consultancy will invite you to partake in two rounds of interviews (note: some consultancies may also require an additional numerical/ verbal reasoning test). Consultancies employ two different types of interviews - case studies and 'fit' interviews. Case studies require a candidate to work through a problem set by the interviewer, to display their reasoning and numerical abilities. It doesn't matter if you don't know the price of Gold last Tuesday, or how to hedge for risk on the Stock Exchange - the interviews are designed to test how you react to a problem, and not how much you knew beforehand. 'Fit' interviews are CV based interviews, they look for characteristics that suggest you would fit in well with the firm values.

The first round of interviews is generally shorter, consisting of a case study and a 'fit' interview. If you are successful in those, then you will be invited to attend a 'Super Saturday' (much like an Investment Bank) where you will have five interviews; three case studies, and two 'fit' interviews. There is always a dinner for those interviewing afterwards, and the firm will tell you whether they're going to offer you a job or not by the next day.

What advice would you give current students or recent graduates who are considering management consultancy?

It's worth having a think about whether the lifestyle of consultancy is for you. Quite often, people get distracted by visions of international glamour, and the corporate credit card, quite forgetting that it is a difficult job that places incredible demands on your time and resilience. If you don't like the randomness that might give you three days notice to go to South Africa for six weeks, or has you working until 5pm one day and 1am the next then consultancy probably isn't for you. If you like challenging, varied work that enables you to travel to a different country, and work with lots of different people, adapting to their problems, questions and ability, then consultancy may the right choice for you.
In terms of applications, and being successful in them, the requirements are much the same as for any other challenging job - enthusiastic, bright people who have been involved in more than just their university degree.