Deloitte Consulting 9781582077871, 9781582077864

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Insider

Guide Deloitte Consulting

2008 EDITION

Deloitte Consulting

WetFeet, Inc. The Folger Building 101 Howard Street Suite 300 San Francisco, CA 94105 Phone: (415) 284-7900 or 1-800-926-4JOB Fax: (415) 284-7910 Website: www.wetfeet.com

Deloitte Consulting 2008 Edition ISBN: 978-1-58207-787-1

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Copyright 2008 WetFeet, Inc. All rights reserved. This publication is protected by the copyright laws of the United States of America. No copying in any form is permitted. It may not be reproduced, distributed, stored in a retrieval system, or transmitted in any form or by any means, in part or in whole, without the express written permission of WetFeet, Inc. The publisher, author, and any other party involved in creation, production, delivery, or sale of this WetFeet Insider Guide make no warranty, express or implied, about the accuracy or reliability of the information found herein. To the degree you use this guide or other materials referenced herein, you do so at your own risk. The materials contained herein are general in nature and may not apply to particular factual or legal circumstances. Under no circumstances shall the publisher, author, or any other party involved in creation, production or delivery of this guide be liable to you or any other person for damages of any kind arising from access to, or use of, its content. All illustrations by mckibillo

Deloitte Consulting

CHAPTER

1 2 1 Deloitte Consulting at a Glance

7 The Firm 8 Overview

9 The Bottom Line 10 Industry Position 11 Organization of the Firm

Deloitte Consulting

conte 2008 EDITION

3456 13 On the Job

21 The Workplace

31 Getting Hired

37 For Your Reference

14 Analyst

22 Lifestyle, Culture, and Hours

32 The Recruiting Process

24 Workplace Diversity

33 Interviewing Tips

40 Recommended Reading

25 Compensation, Vacation, and Perks

34 Grilling Your Interviewer

41 Key Numbers and People

25 Travel

35 Getting Grilled

38 Consulting-Speak

16 Project Controller 18 Senior Consultant

26 Training 26 Career Path 27 The Inside Scoop

nts

Deloitte Consulting at a Glance

1

At a glance The Firm On the Job The Workplace

Deloitte Consulting at a glance Headquarters 25 Broadway New York, NY 10004 Phone: 212-618-4000 Fax: 212-618-4500 www.deloitte.com

Primary Competitors Accenture, A.T. Kearney, Bain & Co., EDS, McKinsey & Co., Mercer, Booz Allen Hamilton, The Boston Consulting Group, BearingPoint, Capgemini U.S., CSC, IBM, PA Consulting, PRTM, PricewaterhouseCoopers, Protiviti, Thomas Group, Towers Perrin Source: Hoovers and Datamonitor Reports

“The caliber of the staff at the senior consultant level and above is incredible. The staff was the best and brightest I have ever worked with. I would recommend every person I worked with for a job or a client without hesitation.” —Peter Kelly, former Deloitte senior consultant/manager In the Recruiter’s Words •

“Our ideal candidate has a strong academic record, relevant work experience and skills, solid examples of leadership and teamwork, and a sense of humor.”

•

“We look for people who understand the team dynamic. People who are confident but not arrogant. People who will be comfortable calling the CEO by his first name.”

•

“Diversity is alive and well. It’s absolutely woven into the company culture and the business plan. It’s a business imperative—not just a nice thing to do.”

•

“[Deloitte employees] are supporting clients along a very wide spectrum. Therefore, it’s critically important that new hires understand the entire process, and not just how to talk to clients.”

Key Differentiating Factors •

Collegial and down-to-earth environment in which people check their egos at the door.

•

Executable strategies that Deloitte helps implement. That means working in the trenches and collaborating with clients on projects.

•

Deep expertise in operations consulting.

•

Focus on maintaining work/life balance.

•

Largest percentage of women in leadership positions among the Big Four.

FOR YOUR REFERENCE

Getting Hired

Deloitte Consulting



W E T F E E T I N SIDER GUIDE

At a glance

“I equate the Deloitte culture to being very much like a family. The people are collaborative and friendly.”

•

“Grades are more important for undergrads. For MBAs, we look more at personality, work experience, and interest in the company. Make a point of coming up and introducing yourself at events before the interview.”

•

“We’re here to help you, we’re going to work with you, we’re going to understand what you want. A lot of our competitors close themselves in a room and then tell the clients, ‘This is what we’ve done.’ We work hand-in-hand with all our clients.”

•

“We want someone who really knows what’s going on with Deloitte, has spent time finding out what projects we’re doing, clients we have, and the kind of culture we foster.”

•

“Once in, it’s a lot like college in a way: You’re a generalist at first. You’re given a period of time, then you ‘declare a major.’”

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“I’m not going to paint a rosy picture: The work is tough. Sometimes you’re working from 7:30 a.m. to midnight.”

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“You can get lost in Deloitte if you don’t know what you want to do and aren’t successful in networking. But I see [Deloitte’s size] as more of an opportunity than a hindrance.”

•

“I think we have a lot of type A people—gogetters who want to be the best in whatever they do. They want to outshine everybody else, but they also have this collaborative quality. You need to be able to share information and help other people.”

•

“Don’t stress out. Beyond doing your homework about the company, you can’t really study for this. In the first interview, we mainly look at one thing: Do you fit in? There is a Deloitte type of personality: smart, outgoing, strong communication and interpersonal skills. You have it or you don’t.”

•

“We look for adaptability, variety, and leadership. If you’ve only worked at a paint store, then tell us how you moved up from sweeping the floors to custom-color mixer to regional manager.”

•

“The second interview is cases. We observe how you ask questions, think on your feet. Deloitte’s view [is that] smart people can ‘drink from a fire hose’—jump in with very little prep and learn any business.”

Getting Hired

•

The Workplace

“We’re looking for people who honestly want to be a part of an organization that has a plan. I don’t think any person at any level of Deloitte wants the softball questions.”

On the Job

What Insiders Say

•

The Firm

In the Interview

FOR YOUR REFERENCE

WETFEET INSIDER GUIDE



At a glance The Firm

Deloitte Consulting The Career Ladder •

Undergrads enter as business analysts, systems analysts, or human capital analysts.

•

MBAs enter as senior consultants 99 percent of the time. (Occasionally, master’s-level students are hired into technology-integration areas. MPAs are also hired at the senior consultant level.)

Getting Hired

The Workplace

On the Job

Estimated Compensation Figures, 2006 Undergrads Starting salary (business/systems analyst)

$55,000 to $70,000

Signing bonus:

$5,000 to $10,000

Relocation bonus

not available to undergrads

MBAs Starting salary (senior consultant)

$95,000 to $120,000

Signing bonus

$15,000 to $30,000

Relocation bonus

$0 to $10,000, dependent on the distance of the move

Annual bonuses:

$15,000 to $24,000

Summer interns

$750 to $1,100 per week for undergrads; $1,700 to $2,200 for MBA candidates

Note: Signing bonuses are WetFeet estimates; Deloitte does not release this information.

FOR YOUR REFERENCE

Source: Consultants News



W E T F E E T I N SIDER GUIDE

At a glance

The Firm

On the Job

The Workplace

Getting Hired

FOR YOUR REFERENCE



WETFEET INSIDER GUIDE

The Firm

2

Overview.......................................8 The Bottom Line...........................9 Industry Position.........................10 Organization of the Firm............. 11

At a glance

Deloitte Consulting

Overview

FOR YOUR REFERENCE

Getting Hired

The Wor place

On the Job

The Firm

Deloitte Consulting is one of the world’s largest

consulting firms, with 12,000 consultants serving more than one-third of the Fortune Global 500 in nearly 40 countries. It’s a full-service shop that does it all, from research through implementation. Moreover, it views itself as a humane, balanced, and enjoyable place to work, where talent can rise quickly. Deloitte employees and others would agree: In 2006, the company made Fortune magazine’s list of the “100 Best Companies to Work For,” an achievement repeated in eight out of the past ten years.

INSIDER SCOOP “Deloitte’s folks are focused on furthering their careers as well as yours. They’re about bringing you along on the journey, not stepping on each other.” Deloitte Consulting (DC) was born in 1995 as the consulting arm of the London-based Deloitte Touche Tohmatsu (DTT) international accounting firm, founded in 1845 by former bankruptcy clerk William Welch Deloitte. DC’s fast growth mirrored the economy in the go-go 1990s, then slowed with the dotcom collapse, the recession, and blowback from the Enron/Andersen scandal. For propriety’s sake, pressure was on consulting firms to split from their parent accounting firms, and DC reluctantly (its own word) set a separation plan in motion. In summer 2002, the company launched a marketing campaign heralding a new name: Braxton—drawn from Braxton Associates, a strategy consulting firm DTT bought in 1984 and subsumed into DC in the late ’90s. But in March 2003, the firm announced it had ended discussions to separate its consulting practice from the parent accounting firm, citing a tight credit market and economic conditions. Deloitte Consulting, although retaining that name, is now fully integrated back into its parent company, which is now known simply as Deloitte. 

W E T F E E T I N SIDER GUIDE

Although the Deloitte brand doesn’t carry quite the cachet of strategy-focused firms such as Bain, Booz Allen Hamilton, or McKinsey, its name recognition and reputation grew in the latter part of the 1990s with a successful ad campaign and a broadening of services. Deloitte now competes with other consulting firms for the business of companies with more than $500 million in sales. It touts itself as a one-stop shop that designs “executable strategies” it will help implement. Clients have included heavyweights such as Boeing, ChevronTexaco, General Motors, Kaiser Permanente, and Pharmacia & Upjohn (now absorbed into Pfizer.) Like their rivals, Deloitte consultants often camp out at the client site for weeks or months, but the company says it differentiates itself with more personalized client contact. As a matter of fact, it’s said that Deloitte’s consultants have a predilection for “riding around for a week in a beer truck.” The meaning of this anecdote is clear: If your client is a beer distributor, you need to get out of the office and smell the hops. The result is good conversation—and good research.

INSIDER SCOOP “Our clients simply enjoy working with us more than our competitors. We collaborate better and are more responsive to their needs.” “It can be a land mine for many who prefer one type of functional consulting over another, but a rich opportunity for those who prefer a broad mix of experiences,” Deloitte consultants work with seven industry groups, and new people are hired at one of five geographic regions. The firm deploys consultants in five service areas, and integrates process capabilities and service lines into each of thoseareas. As your career develops you’ll gradually specialize in a service line and an industry group, but initially, you’re likely to work with a veritable candy store of different project types.

At a glance

π A Workable Lifestyle “The challenging work and long hours are paired with what Deloitte believes is a unique consulting industry characteristic: a workable lifestyle. Its consultants spend fewer hours away from home than its rivals (a 3-4-5 standard—a maximum of three nights in a hotel and four days at the client per five-day week).”

The Firm

Deloitte’s culture centrism can’t be

INSIDER SCOOP “Lots of people from rival firms hire into Deloitte, but none of us go the other way. If we leave, we leave the industry.”

Getting Hired FOR YOUR REFERENCE

overemphasized. One insider says, “Face it. The work at these consulting firms isn’t much different. So you may as well work with people you like.” Unfortunately some employees have been forced out as a result of the economic sting that Deloitte— and the rest of the consulting world—has felt. Though there were layoffs and substantial cutbacks in recruiting in the past few years, recruiters say 2007–08 is looking similar to last year when DTT hired about 3,000 new employees. About 1,000 slots will be devoted to the consulting group alone in the 2006–07 cycle. For fiscal year 2006 (ending May 31), Deloitte Consulting revenue increased 9.64 percent to 4.93 billion, according to Consulting Magazine.

The Workplace

The Bottom Line

Consulting Magazine tracks the breakdown of services across Deloitte – and in fiscal year-end 2006, the newsletter defined Deloitte’s revenue across these four areas: Strategy 43% Operations Management 12 % IT 35% Human Resources 10% Staff turnover remains about equal to the industry average at 15.9 percent. Forecasts point to Deloitte’s continued dominance as the economy continues to improve. Source: HARRT (Human Resources Round Table Quarterly, Winter 2007) Rest assured that if you’re one of the few to make it onto Deloitte’s roster, you’ll be joining a company that faces off with the best of what consulting has to offer.

On the Job

The firm also promotes a down-to-earth company culture that includes title-free business cards, mandatory use of first names from the CEO on down, and a strong emphasis on fitting in. The latter includes having a “Deloitte personality,” which apparently trumps both GPA and raw intellectual horsepower in the university recruiting process. Ideally, arrogant types are expunged in the first interview, while only nice guys and gals get in. Nearly all company insiders speak affectionately of a collegial, unpretentious atmosphere where hierarchies are downplayed, good ideas rule, and a formal mentoring network is taken seriously. Deloitte tries to stoke employee morale with formalized internal structures. Two committees formed in 1998, the Business Analyst Action Council (BAAC) and the Global Systems Analyst Advisory Council (GSAAC), provide regular forums and networking opportunities for young consultants. In 2007 Deloitte as a whole dropped one spot to number 18 in Universum Communications’ survey of MBAs’ most desirable employers.

WETFEET INSIDER GUIDE



At a glance

Deloitte Consulting

Getting Hired

The Wor place

On the Job

The Firm

20 Largest Management Consulting Firms Ranked by Highest Global Consulting Revenue

Industry Position Deloitte Consulting competes with other

large and midsize consulting firms. For IT-specific projects, the company may also compete with niche or boutique firms. It provides a wide range of general management and information-technology consulting services. Its particular strength is in operations consulting, as well as strategic planning, financial management, and productivity. Deloitte again topped the list of “World’s Largest Management Consulting Practices,” according to Consultants News, June 2007 newsletter. The ranking is based on Consultants News’ estimates, which include revenue from both Deloitte Consulting and DTT. Another Consulting News metric is that of “favorable perception”–MBAs think highly of the firm–with Deloitte coming in at number 6 with a 61 percent share of students. .

Rank

Firm

1

Deloitte Consulting

2

KPMG International

3

McKinsey & Co.

4

PricewaterhouseCoopers

5

Mercer Human Resource Consulting*

6

Ernst & Young

7

Accenture

8

Booz Allen Hamilton

9

Crowe Chizek/Horwath International

10

IBM

11

Boston Consulting Group

12

BearingPoint**

13

Towers Perrin

14

Watson Wyatt

15

Bain & Co.

16

Aon Consulting

17

Altran

18

CSC

19

Mercer Specialty Consulting

20

Hewitt Associates

FOR YOUR REFERENCE

*Mercer HR and Mercer Specialty Consulting are reported as separate entities this year because both practices go to market separately. **Based on 2005 revenue; firm has not yet filed FY06 data. Source: Consultants News, June 2005

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W E T F E E T I N SIDER GUIDE

Deloitte is headquartered in New York, but it’s divided into five regions (Northeast, Mid-Atlantic/Southeast, Great Lakes/Ohio Valley/Central Atlantic, West, and Midwest).

Key Global Offices

Industry Groups

Many Service Lines Each of these competencies has associated service and subservice lines, which constantly change based on client demand. Some of them, such as financial management or change leadership, may even cut across several industries. For that reason, most people at Deloitte can’t name them all. Here are a few: Enterprise applications: consultants work with applications from vendors such as PeopleSoft, Oracle, SAP, and Lawson that are employed across an organization

•

Organization and Change: change leadership, compensation and benefits, educational services

•

Outsourcing Advisory Services: informationtechnology outsourcing, business-process outsourcing

•

Architecture and Network Services: customer relationship management software, SAP

Getting Hired

•

The Workplace FOR YOUR REFERENCE

The company has expertise in a wide array of functional areas and serves most big-ticket industries: • Aerospace and Defense • Automotive • Banking and Securities • Consumer Products • Federal Government • Health-Care Providers • Health Plans • Insurance • Investment Management • Life Sciences • Media and Entertainment • Oil and Gas • Power and Utilities • Process and Industrial Products • Real Estate • Retail • State Government • Technology • Telecom • Tourism, Hospitality, and Leisure

To provide coverage to all industry groups, Deloitte has five service areas, each of which integrates process capabilities: • Enterprise applications • Human capital • Outsourcing • Strategy and operations • Technology integration

On the Job

Worldwide, Deloitte has operations in the Bahamas, Hong Kong, New Zealand, France, Italy, Spain, Canada, Bangkok, Germany, Russia, and the Netherlands.

Five Service Areas

The Firm

Five Regions in the United States

At a glance

Organization of the Firm

WETFEET INSIDER GUIDE

11

On the Job

3

Analyst.........................................14 Project Controller........................16 Senior Consultant........................18

At a glance

Deloitte Consulting

Analyst out of school with little to no industry experience. Analyst responsibilities don’t differ fundamentally from those of senior consultants. At first you might be asked to do some backstage work with little risk of harming a multimillion-dollar relationship, but the goal is to get you out in front of the client early on, where you’ll be adding value left and right. Often, analysts produce deliverables (the real-world equivalent of homework assignments), such as training documentation or PowerPoint presentations which managers and partners review and revise. Once you excel at these assignments, the scope of your responsibilities increases. Analysts have been known to run sizable chunks of a project and even entire small projects, with responsibility for five or more team members.

“Successful analysts at Deloitte demonstrate tremendous aptitude for learning. You can be put in any industry and perform any job function in your first few years before you make a name for yourself.” —Peter Kelly, former Deloitte senior consultant/manager

FOR YOUR REFERENCE

Getting Hired

The Workplace

On the Job

The Firm

The analyst role is typically for the person right

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W E T F E E T I N SIDER GUIDE

Here are some typical duties: • Gather data through client interviews, research, and observation. (They’ll be calling you “Scoop” in no time!) •

Conduct operational and financial analysis of data.

•

Present findings to team members.

•

Persuade managers to adopt your recommendations.

•

Research and prepare sales proposals.

•

Recruit more analysts.

•

Systems analysts: design and test program modules.

A Day in the Life of an Analyst 5:15 a.m.

Yell at the alarm clock and roll out of bed.

6:00 a.m.

Grab a banana and leave for the airport.

7:00 a.m.

Stand in security line—even the tax line is a nightmare on Monday morning.

7:45 a.m.

Board flight, fall asleep right away.

10:15 a.m.

Get car service to client site. It’s sad when all the drivers know you by name.

10:30 a.m.

Arrive at client site, check voicemail, check Deloitte email, check client email. Chat with team (client and Deloitte) about the weekend. Work with client to configure system.

3:00 p.m.

Back to configuration with the client—wonder how many times you have to explain the same concept. But thankfully, no PowerPoint presentations in this project.

6:30 p.m.

Time to leave. Drive back to hotel with team.

7:00 p.m.

Head to gym for daily workout; run into a couple of team members with the same idea.

8:30 p.m.

Quick dinner with team and a couple of cool clients.

10:00 p.m.

Watch Lost..

11:00 p.m.

Chat with significant other for a while.

The Workplace

Conference call with the manufacturing plant to get some information for configuring the system.

On the Job

2:00 p.m.

The Firm

Head down to the cafeteria to grab lunch. Eat at desk while continuing configuration.

At a glance

12:30 p.m.

Getting Hired

12:00 A.M. Sink into the heavenly king-size bed and stay there for the next seven hours.

INSIDER SCOOP “In my experience, the degree of independence given to an analyst is directly proportional to your ability to handle the workload.”

FOR YOUR REFERENCE

WETFEET INSIDER GUIDE

15

At a glance The Firm On the Job The Workplace Getting Hired

Deloitte Consulting

Project Controller

A Day in the Life of a Project Controller 6:00 a.m.

Get up; check email before you take your dog for a walk. Return home, get showered and ready for your day.

7:00 a.m.

Hop in your car and head to work in the suburbs of Philadelphia.

8:15 a.m.

Get to your desk. Have morning coffee and respond to any urgent emails before you get on with your regular daily activities.

9:00 a.m.

Work on your project tasks. Part of what you do is accounting- and financedriven—what you base your analysis on to show where your project is. Update any forecast information you can provide your manager so he can have an idea of the current project status. Work on reports, which come out twice a month; generate client billing from these reports. Answer any other email from clients and team members throughout the day.

11:00 a.m.

It’s a Monday, so run a status conference call to go over financials, reports, analyses, and any issues raised over the past week.

12:30 p.m.

Munch on a sandwich from the cafeteria or the local sandwich shop, and gulp down a lot of caffeine. Wish I could find a good cup of coffee around here.

1:00 p.m.

Conference call for the project controller program. This is where information is disseminated to the troops, covering any new developments or requirements affecting the group. And it’s also an open dialogue about pertinent topics.

Here’s a general overview of a project controller’s tasks:

• Manage finances for the project, including budget. •

Develop and maintain a work plan.

•

Meet with project team to get a status of everyone’s tasks.

•

Analyze profitability and time management, ensuring optimal resource usage.

•

Document and organize project progress.

•

Report project status.

•

Ensure that the team is communicating properly and maintain team morale.

•

Work on human resource management—for example, develop project support processes and human resource orientation processes.

•

Prepare client presentation materials.

•

Participate in internal project controller networking; if you’re experienced, mentoring and delivering training will be part and parcel of what you do.

FOR YOUR REFERENCE

π The Project Controller “The project controller program began in 1995 in Orange County and subsequently went national. Project controllers work with project teams to measure their progress and maintain corresponding budgets. They also coordinate with clients to ensure efficient use of the team’s resources.”

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W E T F E E T I N SIDER GUIDE

Hit the gym for regular workout.

7:30 p.m.

Get home. Walk the dog. Fix dinner. Sit down and look at email again. Do a little work on a spreadsheet—you’ve got a deadline looming.

8:30 p.m.

Turn on The Office. They could never get away with that stuff in the real world, but that’s why you can’t stop watching.

10:00 p.m.

Hit the hay.

On the Job

6:00 p.m.

The Firm

More project controller stuff—like updating financial models, reports, and so on.

At a glance

3:00 p.m.

The Workplace Getting Hired FOR YOUR REFERENCE

WETFEET INSIDER GUIDE

17

At a glance The Firm On the Job The Workplace

Senior Consultant Taking on the role of senior consultant is akin to

running your own business. You’re the entire C-Suite on your piece of the engagement, with the client serving as your board of directors. You’re armed with a small executive team (usually two to five consultants, clients, or some combination of both) to tackle the constantly changing business environment. Your responsibilities straddle everything from strategic development to tactical execution and change management. Your skills, including management, leadership, teamwork, analysis, and creative skills, will all be put to the test on a daily basis. Your goal: Deliver results on time to improve shareholder (client) value. Specifically, you will: • Identify client issues and hypothesize approaches to solving the problems. •

Create strategic and analytical frameworks to assess the issue.

•

Manage a team to perform the analysis.

•

Guide the team in interpreting the results to ensure that they’re actionable and relevant to the client.

•

Work with internal industry experts and partners to refine your findings.

•

Develop and deliver presentations to the client’s senior management.

•

Help identify additional client issues in which Deloitte can assist.

18

W E T F E E T I N SIDER GUIDE

FOR YOUR REFERENCE

Getting Hired

Deloitte Consulting While client engagements consume a large portion of your days, internal projects are also an integral part of your responsibilities as a senior consultant. Some internal initiatives include: • Leading recruiting efforts. •

Teaching classes on consulting-related skills.

•

Mentoring junior staff and new hires.

•

Planning industry social events.

•

Developing a new service offering to bring to market.

•

Creating a five-year business plan for a service or subservice you’ve identified.

A Day in the Life of a Senior Consultant 5:30 a.m.

Turn off alarm after hitting the snooze a few times.

6:00 a.m.

Ride to airport; check your Blackberry. Wonderful—no urgent email! Catch the 8 a.m. flight to the client site. Catch up on sleep en route.

11:00 a.m.

Land in a different time zone after being delayed in the air for an hour. Check voicemail. Why didn’t you eat breakfast before getting on the plane? Will your stomach ever get used to the time changes?

11:15 a.m.

Grab a rental car and call the partner to tell her you’re running late. Fire drill! The presentation for your 2 p.m. meeting isn’t complete, and you finally got input from your lead client. Looks like lunch will have to wait.

5:00 p.m.

Back in the team room. Catch the team up on the meeting and brief them on the next steps. Check yourBlackBerry quickly and then lead a storyboarding session. You quickly nail the story (man, these undergrads are smart) and assign ownership of the slides.

8:30 p.m.

Shower and meet in the lobby for dinner. You’re going to try a restaurant you found in Zagat. Luckily, there’s always an amateur wine aficionado in the group.

10:00 p.m.

After a glass of wine, fall right to sleep.

FOR YOUR REFERENCE

The three partners call a meeting to debrief and discuss phase two. You have a brainstorming session, which takes about 30 minutes too long—it’s never good to have too many opinions in the room. Don’t these partners realize you have real work to do? You suggest a strategic approach, which they like, and they ask you to put your thoughts into some PowerPoint slides. It’s amazing how you’re now thinking in PowerPoint!

Check into the hotel and quickly get changed before heding to the gym. Going to hit the treadmill tonight; you’re running a marathon with a couple of team members. Check your BlackBerry when you get back.

Getting Hired

3:30 p.m.

7:15 p.m.

The Workplace

Back from lunch, and the presentation is printed. It’s meeting time—no time for that after-lunch coma. You ace the presentation. The client is thrilled. This means more work—you need to develop and scope phase two of the project.

iPod time. You need to get some work done. Spend an hour working on a presentation for your office managing director—must present it on a conference call tomorrow morning.

On the Job

1:15 p.m.

Roll into the team room where your team is waiting to go out to lunch together. Before heading out, recheck email. Your computer won’t start (again)! Email can wait. Over lunch, talk about how much fun you all had over the weekend.

6:00 p.m.

The Firm

12:30 p.m.

Finally arrive at the client and rush to meet with Joey VP. He doesn’t understand your recommendations and is asking that you rework them. Spend 45 minutes walking him through your thinking; he agrees with the findings. Crisis averted.

At a glance

11:45 a.m.

WETFEET INSIDER GUIDE

19

The Workplace

4

Lifestyle, Culture, and Hours.......22 Workplace Diversity.....................24 Compensation, Vacation, and Perks.....................................25 Travel...........................................25 Training.......................................26 Career Path..................................26 The Inside Scoop.........................27

At a glance The Firm On the Job The Workplace Getting Hired FOR YOUR REFERENCE

Deloitte Consulting

Lifestyle, Culture, and Hours People who prefer to work in a Club Med–like

setting should work for, well, Club Med. The consulting life isn’t easy, and Deloitte’s no exception. Expect long hours (an average workweek is 45 to 55 hours), many days on the road, constant challenges, big problems, and lots of pressure.

INSIDER SCOOP “You don’t know all the answers, but people expect you to. It’s fun, stressful, exhilarating, and tiring.” The average project lasts from four to six months, with technical projects often going longer. Consultants generally work on one project at a time; 4 to 12 consultants per project is typical, but it can be closer to 100 for gargantuan efforts. Each team has a project manager who may or may not be in the trenches. Because work is team-based, nobody is checking up on you at every moment, but you do need to get your part of the job done. Most teams include clients; Deloitte considers this essential to producing lasting change.

π Work/Life Balance As you progress through the ranks and take on more responsibility as a consultant, expect your hours to get closer to 60 a week. You’ll probably spend about 45 hours billable to the client, and another 10 to 15 hours building the practice,

22

traveling and expanding your network. “I have a great work/ life balance,” says Peter Kelly, former Deloitte senior consultant/manager. “I probably work about 50 hours a week, and I only worked two weekend days [in my five years at Deloitte.]”

W E T F E E T I N SIDER GUIDE

Deloitte tries to assure its employees some work/life balance with its 3-4-5 policy: a maximum of three nights in a hotel and four days at the client site in a five-day week. This makes it possible to serve clients and still attend to the important stuff, such as an occasional dinner party and your daughter’s dental appointment. Deloitte allows some flexibility in work arrangements and leaves of absence.

“Deloitte supports people who want to take time off to focus on their families whether it’s six months or two years. However, the consulting lifestyle is a big struggle for those who want to become parents. I think Deloitte recognizes this, and while they don’t have the perfect or ideal solution, they’re willing to work with you if you have the talent they need.” —Peter Kelly, former Deloitte senior consultant/manager In addition, says one recruiter, “We also try to have consultants staffed locally as much as possible. Not only do we want people to have a balanced work life, we think it really makes sense from a financial standpoint to have, for example, someone based in Los Angeles working on a project there versus flying out and housing a consultant out of New York.”

Insiders say the culture at Deloitte aims to reduce turnover by keeping the top performers engaged through mentoring relationships, development opportunities, and early leadership roles. Source: HARRT Quarterly, Winter 2007

The Firm

π Community Impact Award

INSIDER SCOOP “The hours are probably better on the whole than other consulting companies. Projects are usually well-managed, so you can get your work done in the time allocated.”

To encourage team spirit, Deloitte creates opportunities for employees to socialize and unwind together outside of work. Depending on your region or home office, these include “Friday flybacks” (quarterly allhands meetings), office Olympics, barbecues, dinner cruises, formal dinner dances, picnics, weekend retreats, and Global Impact Day (a community service project completed by the whole office). On Impact Day in 2007, almost 31,000 Deloitte and Touche employees participated in 31 volunteer projects across the U.S.. Source: DT press release, June 8, 2007

Of course, don’t get the idea that Deloitte is a pleasure cruise. Work-wise, says one insider, the atmosphere is strictly no-nonsense; action and results are held in high regard, and there’s less need to put in face time or to sell yourself over and over again than there might be at other firms.

Getting Hired

“It’s an open culture, which lends itself wonderfully to networking. Networking is encouraged­—it’s a critical step in getting people to know you, so you’re top of mind when it comes to staffing cool projects. And it’s easier to network here because the people are approachable.”

among employees and feel that the firm cares about them. Some attribute this to the fact that Deloitte is privately held, thereby eliminating stockholder scrutiny over non-revenue-generating expenses.

The Workplace

π Networking

Each year, ten Deloitte individuals are honored with a Community Impact Award, which includes a $5,000 cash donation to nonprofit organizations chosen by the winners. Insiders like the interaction

On the Job

If you’re adventurous, an expense-neutral policy (the company covers the expense of flying you back and forth to your home office or to anywhere in the U.S.) lets you turn your weekends into three-day vacations. One insider says he took 40 three-day vacations in his first year, jetting from the client’s office every Thursday night to hot spots like Aspen, Puerto Rico, or Miami, and returning Monday morning with tales to tell. Another says she’s traveled to San Francisco, Las Vegas, New York, and Chicago on her weekends off.

At a glance

“While the company tries to staff people locally, you can’t count on that actually happening for you,” says Peter Kelly, former Deloitte senior consultant/ manager. “Besides, you might not be flying all over the world, but you might need to be in northern California, which would require an overnight stay, if you’re from Los Angeles.”

A Culture of the People FOR YOUR REFERENCE

The firm’s reputation for “riding with the beer-truck drivers” fuels a culture that is of the people, not above the people. Ego and arrogance are frowned on, and hierarchy is minimized. The emphasis on fitting in with a team of nice, solid people starts at the first interview. WETFEET INSIDER GUIDE

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At a glance The Firm On the Job The Workplace Getting Hired

Deloitte Consulting

Workplace Diversity The company has a full-time director of diver-

sity services, Redia Anderson Banks. But that’s not all. Deloitte has formally recognized the grassrootsbred Affinity Group Network for African-Americans, Latinos, and Gays/Lesbians, appointing a partner-level national lead and establishing local office chapters of the network. Manoj Singh, currently CEO of Deloitte Touche Tohmatsu Asia Pacific, created the Americas Diversity Advisory Council when he was DC’s Americas managing director. The council, a group of 20 to 25 partners, advises on diversity issues and set strategies for increasing minority representation at the firm. Deloitte also targets historically black colleges, has established a minority liaison who holds candid “fireside chats” on consulting life with minority students at select universities, and has an INROADS program, which brings minority undergrads in as interns.

INSIDER SCOOP “Diversity is absolutely woven into the company culture. It’s a business imperative—not just a nice thing to do.” In 2006, in response to increased diversity activities, the National Black MBA Association presented to Deloitte U.S. firms the Silver Torch award, which highlights the achievements of an organization or individual who has made the most progress toward promoting equal opportunities for minority professionals.

FOR YOUR REFERENCE

Source: Consulting Magazine, May 1, 2006

In 2007, Deloitte was named one of Working Mother magazine’s “Best Companies for Multicultural Women.” The magazine also listed Deloitte & Touche USA one of the “Best Companies for Women of Color.” For 2006, Working Mother named Deloitte to its “100 Best Companies for Working Mothers” list for 2006 for the 13th consecutive year. 24

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In 2006, Latina Style Magazine named Deloitte one of the 50 best companies for Latinas for the fourth consecutive year. In 2006, Hispanic Magazine named Deloitte to its “Corporate 100,” which recognizes companies that provide the most opportunities for Hispanics. Also in 2005, Deloitte made Black Collegian’s “Top 50 Companies for Minorities Entering the Workforce.” In 2004, Deloitte was named to DiversityInc’s list of the “Top 50 Companies for Diversity” for the third consecutive year, and to its “Top 10 for GLBT Employees” in 2005. Also in 2004, Essence magazine ranked Deloitte among its “Top 30 Best Companies for African American Women,” and the company was recognized at the 12th Annual Diversity and Women’s Leadership Summit and Gala in 2005. In 2003, PlanetOut counted Deloitte among its “20 Best Companies to Work For.” The Human Rights Campaign (HRC), a national gay and lesbian organization, ranked the Deloitte U.S. firms one of the 138 U.S. companies earning a rating of 100 percent in its fifth annual Corporate Equality Index. Lastly, the Advocate listed the Deloitte U.S. firms among “Companies That Embrace Equality.”

Women on a Roll “I’ve actually been in a room where there were no men,” says a female insider, who estimates a 50-50

“I worked for three female and two male partners, and the women were of the same caliber as the men. The best and the brightest make it at Deloitte; others need not apply.” —Peter Kelly, former Deloitte senior consultant/manager

INSIDER SCOOP

New employees can take advantage of the 401(k) plan; Uncle Deloitte will benevolently match a portion of your contributions—up to 25 percent of the first 6 percent you put in each year.

Getting Hired FOR YOUR REFERENCE

INSIDER SCOOP “For every trip I get to Paris, I get a couple to Carlton, Ga.” WETFEET INSIDER GUIDE

The Workplace

recruiter, and new hires are offered packages—depending on specialty and location—in line with Deloitte’s competitors. New analyst salaries are in the $55,000 to $70,000 range. Estimated 2006 MBA starting salaries will range from $95,000 to $120,000. Because Deloitte recruits at more business schools than many of its competitors, salaries may vary. Insiders say new hires from national schools tend to receive higher offers than those from regional schools. Deloitte gives new employees 23 days of paid time off (PTO) each year. PTO includes vacation, sick, and personal time. Taking one or two weeks off in a row is usually allowed, but taking all four weeks in one shot will depend on your team and office. Assuming it’s scheduled in advance, vacation is considered sacred,

all your favorite frequent-flyer programs when you join Deloitte. The firm says consultants travel about 40 percent to 50 percent of the time, which insiders confirm. Energy industry consultants who aren’t based in Texas probably spend 100 percent of their time on the road. Those in the human capital or benefits consulting practice mostly work locally. New York City consultants with finance industry clients don’t fly at all. Those who do travel usually fly out on Monday and back on Thursday or Friday; weekend travel is very rare. Travel requirements vary from office to office, depending on the client mix.

On the Job

“Deloitte’s ‘Friday Flybacks’ program encourages on-the-road consultants to get back to the ranch for quarterly all-hands meetings that combine continuing education with schmoozing.”

Compensation, Vacation, and Travel Perks Sign up for “Salaries are market-driven,” says one

The Firm

even if your client suffers an unforeseen matter-antimatter reaction. In addition to the requisite maternity leave, Deloitte also affords new fathers two weeks’ paternity leave. Says one insider with an infant daughter, “That was given to me. The expectation was that I was going to take that leave. And I did.” Deloitte’s extended parental-leave practices have garnered notice for their innovation in publications like Harvard Management Update.

At a glance

female-to-male ratio at the analyst level and a 1:4 ratio at the senior consultant/MBA level. Deloitte’s Initiative for the Advancement and Retention of Women, begun in 1993 to reduce a high female turnover and low representation in leadership positions, is having a dramatic impact, say insiders. For the past eight years, Deloitte has boasted the largest percentage of women partners, principals, and directors among the Big Four, according to CPA Personnel Report’s 2005 Survey on Women in Public Accounting. The initiative includes parental leave, career monitoring for both female and male professionals, and even “Men and Women as Colleagues” managerial training. In general, the initiative is designed not simply to grant women higher positions, but to ensure that women are not at a disadvantage at the firm. And, as mentioned earlier, Deloitte has also earned honors as a good company for Latinas and African-American women.

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At a glance

Deloitte Consulting

Training

FOR YOUR REFERENCE

Getting Hired

The Workplace

On the Job

The Firm

Every new hire participates in what one insider

calls “consulting boot camp.” Both undergrads and MBAs attend intensive, two-week training programs. For undergrads, the first week is devoted to developing fundamental consulting skills and includes local office procedures and logistical information. The second week focuses on a specific area. At that time, managers themselves may lead the training for some industries. The same progression of general to specific is true with MBA training; the technical services are separated from the business services. Despite the training intensity, much bonding goes on during downtime. “It’s a total party time,” says one insider. In the meantime, you’re also working very hard to prepare for the job. And new systems analysts may participate in an additional three to eight weeks of training, depending on their service line assignment.

π Back to School Deloitte offers a graduate school assistance program (GSAP) to business and systems analysts. GSAP lets analysts return to the firm after completing a graduate school program. Systems analysts are eligible for educational assistance at relevant graduate programs on information technology, systems, computer science, and soon. Once you return, Deloitte reimburses you for your tuition on your first and second

26

anniversaries with the company. Those returning may actually profit financially, because Deloitte also reimburses half of any scholarships or grants earned. Currently GSAP is not available to human capital analysts. Says one insider: “About 95 percent of business analysts go back to get their MBA. If you continue your career with the firm, it’s expected you’ll go back to business school.”

W E T F E E T I N SIDER GUIDE

Deloitte also maintains an online learning center that provides hundreds of course options and a knowledge management center with information about the company’s service offerings, approach to the marketplace, client engagement deliverables, and best practices documents—all accessible to new hires. One aspect of training involves a simulation that creates an opportunity for new hires to test out what they’ve learned, so they can begin to apply the methodologies and tools to solve the client’s problem.

π 2006 ‘Training Top 100’ list ”Training magazine ranked Deloitte 25th in its 2007 list, down from number 12 in the 2006 ‘Training Top 100’ list.”

Career Path Deloitte lays out a reasonably clear career

path all the way up to the brass ring of partnership. Undergrads hired as business or systems analysts receive significant continuing education and typically stay for two or three years. Next, they often attend B-school or another relevant graduate program and return wiser and richer—once they’re back on salary (and their loan has been forgiven). Business analysts chosen to stay on for the third year are typically promoted to consultant. Systems analysts work two years until promotion to consultant; those who stay two to three years as consultants could earn a promotion to senior consultant, but senior consultants usually hold MBAs. The firm also hires undergraduates into the human capital practice, where they also have the opportunity to move through the ranks.

What Employees Really Like The Buddy System

INSIDER SCOOP

“It’s a rarity that people stay frozen at one level here.”

It’s Good Experience Insiders love the variety of industries they get to work with. Says one, “I’ve worked in consumer business, I’ve worked in telecom—different industries that I’d probably never see if I wasn’t here.” Deloitte’s policy of assigning consultants to service lines rather than

INSIDER SCOOP “I was once a financial services person, but I’m now in retail. At Deloitte, you’re given as much opportunity as you can take on.”

WETFEET INSIDER GUIDE

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FOR YOUR REFERENCE

New experienced hires come in at every level, from consultant to partner/principal/director, commensurate with previous experience. Once in the mix, their opportunities and career paths are identical to those of campus hires. Deloitte offers a lucrative employee referral bonus program that results in about 50 percent of all experienced hires coming in through referrals. Alas, a few misguided souls do leave the firm (turnover is about 15.9 percent).

Getting Hired

INSIDER SCOOP

“I can see the impact I have on the client; I’m not just writing a report to collect dust in a binder. My work is much more real.”

The Workplace

Insiders uniformly praise their fellow Deloitte employees, describing a rare blend of impressive talents and down-to-earth personalities. While “Everybody is on a mental level that keeps you sharp,” says one insider, the vast majority of Deloitte consultants are “genuinely likable, interesting people who are fun to spend time with.” Another insider says, “Everything in my mind revolves around the people. They’re fun, diverse, and unique—that’s what excites me and keeps me around.” A recruiting insider says that Deloitte makes an effort to hire people who are easy to admire and get along with. “We strive to maintain a high standard for our culture and our people. Your peers are generally hightalent people that you would consider your friends, both in and outside of the firm.”

On the Job

First-year MBAs from top business schools who get hired as summer interns are usually offered fulltime positions as senior consultants, often including tuition reimbursement for their last school year. Senior consultants are promoted to manager in two or three years. After three years, managers have typically gained an industry specialization and move up to senior manager. After a few years, MBAs can choose from two tracks: partner/principal or director. Insiders say the director (nonequity partner) position was designed to retain bright individuals who seek to focus on a career without the responsibilities of leading major projects or bringing in new business.

The Inside Scoop

The Firm

“Insiders report that alumni generally do not seek greener pastures at other consulting firms, suggesting that leaving Deloitte is more a rejection of the lifestyle than of the firm. Many go to work for clients; others find opportunities in small startup businesses. Most analysts who pack their bags are headed to business school. The consensus: If you decide to move on, you can land a plum position with relative ease.”

At a glance

π Back to School

At a glance

Deloitte Consulting industries (at least early in their careers) means they get experience in many different areas.

FOR YOUR REFERENCE

Getting Hired

The Workplace

On the Job

The Firm

Keeping the Work Real

to make work livable and life workable for its consultants. “Work/life balance is in the air; it’s part of the culture,” one insider says.

Deloitte’s competitive advantage, says one insider, is what it calls “The Sweet Spot”: having enough knowledge about strategy, operations, and technology to handle whatever needs arise. Being a one-stop shop is a large source of pride; it makes collaborating with clients and overcoming resistance to change more convincing and rewarding. Many consultants point to the satisfaction they find in their work. Says one, “I can see the impact I have on the client; I’m not just writing a report to collect dust in a binder. My work is much more real.”

Hands-On Operations

INSIDER SCOOP

Watch Out!

“All my projects have been client-intensive with a lot of client interaction. When they were recruiting me, that was a big thing to me.”

Get a Life Despite the business Deloitte is in, the workload and attitude are much more manageable than at some other consulting firms. “The 3-4-5 policy seems to be followed at least 70 percent of the time,” says one insider. “When I work an 80-hour week, they go out of their way to tell me, ‘Take it easy next week.’” Another says, “A 100-hour week would be frowned on; you would be seen as unable to manage your resources.” Still another adds, “Most of my friends [at other firms] are working six to seven days a week, minimum 10 to 12 hours a day. I average about 60 hours a week over five days.” At Deloitte, working weekends is rare. Another insider says: “In three years, I’ve maybe had to work five weekends.” There’s little emphasis on face time, and managers are generally flexible about outside commitments, within limits. “Personal needs don’t always win out, but they do take them seriously,” one insider says. Deloitte’s leadership has spent a lot of time talking with and listening to employees about the culture of the firm, and insiders say the firm has an ardent desire 28

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Many insiders value the close client contact that operations consulting requires. “I was once out at a call center with the operators in their headphones, when I noticed them logging in incorrectly,” says one insider. “That solved the mystery of why the screens kept crashing.” From observing surgeries in operating rooms to driving forklifts in distribution centers with $100 million in inventory, insiders feel they’re witnessing how businesses really run and they’re getting the chance to make meaningful improvements.

Long-Distance Lifestyle Even if you like the concept of an operations focus, there is a downside. One insider explains the equation: Operations plus implementation equals your very own parking sticker at the client site. “It’s a big switch from working at a regular company,” says another, “but that’s the point of consulting.” You’ll spend the lion’s share of your time at the client site—a major disruption to your lifestyle if the job is out of town. If you don’t like long-distance pillow talk, start checking out another profession. Still another insider emphasizes the need for flexibility: “You’re traveling all the time and things happen. Your flight may be delayed, it may be canceled, you may be stuck at the airport. You have to be okay with uncertainty. If you’re not, you have to learn to deal with it, because it happens all the time.”

Let’s Get Along Variety is the spice of life—or at least you’d better think so. A consultant’s projects, working conditions,

INSIDER SCOOP ”You can have multiple bosses you’re reporting to, and one doesn’t necessarily have hierarchy over the other. There’s a sense of politics that goes on in a matrix organization.”

At a glance The Firm

and quality of partners and managers may vary radically from one week to the next. “You normally get a room with five cubicles and separate phone lines, but I was at one job where six consultants shared a table and one phone for two months,” says an insider. “On the other hand, one time I got an entire floor and a great view.” Get used to a lack of privacy-—need to schedule a doctor’s appointment? Take the cell phone outside. Expect close quarters, working lunches and dinners, and late hours together. Don’t make an intense, time-crunched situation worse by fretting over team members’ incompatible work habits; remember that good ideas come from everyone.

On the Job

It’s Easy to Get Lost

The Workplace

Deloitte Consulting is very large, and it’s just one piece of Deloitte. Insiders say the sheer size can be problematic: “Sometimes you can feel like you’re a cog in a machine, there are so many people.” The situation may be worse for experienced hires, who don’t have the benefit of a highly structured support system like new analysts and consultants do. “It’s a little hard to navigate your way around. It’s hard to figure out where you need to go and who you need to speak to,” says an insider. “They put a lot of emphasis on driving your own career, which is good, but it can be disorienting.”

Who’s the Boss? Getting Hired

Sometimes being a consultant at Deloitte is a balancing act of knowing when to defer to a variety of key stakeholders on a given project. Says one insider, “Deloitte is a matrix organization, so you can potentially have multiple bosses you’re reporting to, and one doesn’t necessarily have hierarchy over the other. There’s a sense of politics that goes on in a matrix organization, which necessitates looping people in… [and you can find yourself dealing with] one clambering over the other on who has control.”

FOR YOUR REFERENCE

WETFEET INSIDER GUIDE

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Getting Hired

5

Recruiting Process.......................32 Interviewing Tips........................33 Getting Grilled............................34 Grilling Your Interviewer.............35

At a glance The Firm On the Job The Workplace Getting Hired FOR YOUR REFERENCE

Deloitte Consulting

The Recruiting Process Deloitte Consulting manages a national

recruiting process at many of the top undergraduate and business schools. But to be considered for an interview, candidates must post their resumes on Deloitte’s website. Expect the selection process to take one to two rounds, with one to three interviews in each round. Individuals should work with the campus recruiting team to express their geographic preferences and confirm office locations. Reportedly, candidates from prestigious schools often have their pick of regional offices.

π Team IS the MAgic Word “Unlike other big firms that base interviews on resume screening, Deloitte is more interested in what you exhibit in person. Team—as in team player—is the magic word.”

Undergraduates A strong GPA, at least a 3.2 for undergrads, is important to Deloitte—although not as important as intelligence, poise, business savvy, relevant experience, and internships. Recruiters like well-rounded, selfmotivated types with communication and leadership skills. In one recruiter’s words: “We look at extracurriculars and engagement outside the classroom. Were they in a leadership position in an elected organization, or in one they created for themselves? How active were they in community service? We look at examples of teamwork within the extracurriculars, like fraternities and sororities or athletics, but also outside organizations and honor societies. We also look at someone 32

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who has ‘relevant’ work experience. It doesn’t have to be consulting, but it does require specific skill sets.” All majors—from economics and business to liberal arts—have a shot at business analyst positions. For systems analyst positions, engineering, mathematics, management information systems, and computer-science majors have an advantage over techie novices, who are often viewed as requiring a great deal of catch-up. For human capital analysts, majors in organizational development, psychology, human resources, communication, and industrial labor relations are preferred.

MBAs MBA recruiting is conducted nationally. Recruits from most of the top-tier MBA schools (Harvard, Wharton, Kellogg, University of Chicago, UCLA) are hired each year. While the on-campus recruiting process is the best way to get on the interview list, company recruiters say they’re willing to interview any motivated, qualified applicant. Unlike other big firms that base interviews on resume screening, Deloitte is more interested in what you exhibit in person. Team—as in team player—is the magic word. Professionalism, flexibility, and humor go a long way. Expect a mix of behavior and case questions that’ll probe your analytical strengths and work accomplishments and determine your ability to fit in. “All of our interview processes are a mix,” says one recruiter. “We don’t have formatted questions per se. They’re in three categories: a resume review, case and behavioral. Behavioral is how youíre going to react to a specific situation by drawing on past experience. Case is being given a business case to solve: Hereís the client, here’s what they’ve hired us to do, here are some obstacles. The answer is not so much in the solution, but it’s really more about logic and structuring, and how you present your recommendation.” In addition to attributes like the ability to think logically and solve problems – the interviews and case questions emphasize integrity. Insiders say Deloitte will continue to hire more women, Hispanics, and African Americans, as well as those from other countries.

Source: HARRT Quarterly, Winter 2007

π Alignment “New hires are aligned by service area such as technology integration, which includes deep technical practitioners, or enterprise applications; human capital; strategy and operations; and outsourcing applications. Managers and senior managers can also be aligned by industry.”

•

Show that you understand Deloitte’s place in the consulting spectrum. Hint: Take this opportunity to sing the implementation song: “I’d like to stick around a while and help see some of our ideas through.”

“Although the focus is on skills when recruiting an experienced-hire candidate, Deloitte also looks for qualifications similar to those sought in campus hires. All hires must have a demonstrated record of achievement, excellent written and oral communication skills, and proven problem-solving abilities.”

•

Be prepared to provide success stories. Be ready with examples from work, school, and life that demonstrate initiative, character, flexibility, and leadership. Dredge your memory for fresh, flattering anecdotes that show your potential as a consultant. Share how this experience might influence your point of view in a case.

Interviewing Tips

•

Ask the harder and more personal questions. “We’re looking for people who honestly want to be a part of an organization that has a plan,” says one recruiter. “I don’t think any person at any level of Deloitte wants the softball questions.” So kick the tires and ask the tougher, more probing questions. And try to connect on a personal level with your interviewer. Ask her what she’s working on and what her experiences are at Deloitte.

•

FOR YOUR REFERENCE

Do your homework. Sounds like a no-brainer, but recruiters cannot emphasize enough that a thorough understanding of Deloitte and its people will help you through your interviews. The Deloitte website has a wealth of information— check out webinars, podcasts, and whitepapers. But don’t just hit the Deloitte site and consider your research complete. “Talk to alumni, at your school or program, who are in our firm,” says an insider. “Go to our presentations and other networking events. Learn about Deloitte’s business and structure. Ask those questions, and make sure you have a good sense of the culture.”

Getting Hired

Expect to be asked, “What type of consulting do you want to do?” Provide a definite area of interest—such as health care—but mention two or three others, too.

The Workplace

•

Deloitte is always looking for people with experience outside of consulting. And its recruiters aren’t above luring staff away from competitors. “Experienced hires must have very well-defined experience in our service line,” says one recruiter. They are recruited for the skills, experience, or eminence they have in a specific field.

On the Job

Check your ego at the door. Although Deloitte seeks logical, insightful types with sound judgment, poise, self-confidence, persuasiveness, and analytical ability, its recruiters make a point of finding people who match the company’s downto-earth culture. “If you’re haughty or arrogant, don’t bother,” says one insider. “They’ll find out sooner or later.”

The Firm

•

At a glance

Experienced Candidates

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At a glance

•

•

The Workplace

On the Job

The Firm

Deloitte Consulting In the second interview, act like a consultant. As the partners walk you through a case, calmly ask questions. There’s no right answer. But you’ll impress by focusing the discussion on implementation of your recommendations as they apply to various models. One senior consultant says, “Diagramming on a whiteboard helps a lot. That’s what consultants do, day in and day out.” Practice, practice, practice. According to one insider, “Familiarizing yourself with structure or approach to apply to case questions is key. Mock interviews with classmates or colleagues definitely help. They can evaluate your answers and give feedback.” Deloitte holds mock interviews for certain programs. Go to the website to find out where they’re held. And check out WetFeet’s Ace Your Case!® series, which contains a variety of case questions that will help prep you for the interviews. In addition to focusing on cases, consider possible frameworks that you could apply to it. Source: BusinessWeek, MBA Insider, June 2005

Grilling Your Interviewer Prepare a few questions of your own about

Deloitte. Here are a few to get you started. • Tell me about the future of the firm. How does my particular role fit into where the company is headed? How can I contribute to that future? •

Tell me about your own experiences working at Deloitte. What was your most recent project, how was it structured, was it a success, and what were the team dynamics?

•

What can Deloitte offer clients that other consulting firms can’t?

•

What investments do you think the partners will make in developing new service lines?

•

What’s your turnover rate? Why do people leave and where do they go? Talk about Deloitte’s culture. How true are reports that it’s focused more on work/life balance than its competitors?

FOR YOUR REFERENCE

Getting Hired

•

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•

Tell me about diversity at Deloitte. Why wasn’t the company named to DiversityInc’s 2005 or 2006 list of the “Top 50 Companies for Diversity,” though it was on the 2002, 2003, and 2004 lists?

•

For systems analyst recruits: Will you support my decision to pursue an MBA? How many analysts return after B-school?

At a glance

Getting Grilled

The Firm

According to one recruiter, “[Deloitte’s] questions

The Workplace

•

On the Job

are structurally and behaviorally based. As such, the stress is on exploring whether a candidate has effectively handled situations using a solutions-oriented approach.” Behavioral questions seek to measure key qualities such as leadership, creativity, and analytics. Case questions are applied to evaluate how well a candidate can structure his or her thought processes; these can come in many shapes and forms. All will call on your knowledge and understanding of applying a methodology or structured approach in driving toward an answer to the case question. The following behavioral questions are typical: • Tell me about a time when you had to deliver a project under a very tight deadline and had other projects assigned to you as well. How did you go about successfully delivering on this project and prioritizing all of the projects on your plate? Tell me about a time you had to work with a group in which you had a difficult relationship with one of its members. How did you work out your differences in order to deliver quality results for that particular project or program on time?

Getting Hired FOR YOUR REFERENCE

Take a look at WetFeet’s Ace Your Case!® guides to practice deconstructing the case. WETFEET INSIDER GUIDE

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For Your Reference

6

Consulting-Speak........................38 Recommended Reading.............. 40 Key Numbers and People.............41

At a glance The Firm

Deloitte Consulting

ConsultingSpeak To help prepare you for both your interviews and a possible career in the field, we’ve asked our insiders to give us the most up-to-date consulting jargon. Beware: Unauthorized use of these terms has been known to seriously offend every known species of consultant.

FOR YOUR REFERENCE

Getting Hired

The Workplace

On the Job

2x2 Pronounced “two by two,” this is a favorite consulting tool used to analyze a number of items along two dimensions. It’s basically a graph with X and Y axes that cross in the middle, creating four different sectors. Don’t be surprised if you’re asked to produce one of these during your interview.

Benchmark

Business design Here’s a consultant’s definition: “For a company, it’s not about growing your top line [sales], it’s about growing your bottom line [profit]. Business design is about what you do, how you gear up the troops. It has everything to do with whom you hire and what they do. It’s your channel, your product, how you execute your offering.”

Case interview Your interviewer will give you a set of facts and ask you a question in order to analyze how you structure a problem, think it through, and come up with a solution. Case questions can be numerical (“How many dimes are currently in circulation?”) or business-related (“Suppose a client asked you to figure out why his business is experiencing an unusual decline in sales and a severe cash flow problem.”). But don’t be surprised if it’s just wacky: “If Dannon, Yoplait, and Colombo yogurts came to life, what kind of people would they be?”

Here’s another standard-issue item from the consulting toolbox. Benchmarks are levels of performance or output against which you can evaluate a specific performance. A benchmark study analyzes the performance of a number of companies along specified dimensions. For example, a software company might hire a consulting firm to do a benchmark study on how much other firms are spending on customer service.

Change management

BHAG

Consulting services in telecommunications (cable, wireless, wireline, and Internet), computers, and media—or “converging” industries. The thinking is that the Internet, the telephone, the TV, the PDA, and the PC will someday all become one.

Big Hairy Audacious Goal. This buzzword comes from the book Built to Last (see next entry).

“Built to Last” A book written by James C. Collins and Jerry I. Porras, who destroy the myth that the core product is more important than the vision the company espouses. The term now enjoys widespread usage to describe a company with a strong culture based on a core ideology or identity. More loosely, it refers to those firms that want to be around for many decades or centuries, not just a few years. 38

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Here’s a $5 buzzword that sounds like it’s making things clear, but it’s just muddying an already fuzzy concept. Most firms use this term to refer to a specific type of consulting work dedicated to helping a company restructure its organization and cope with the human problems that accompany such an effort.

Convergence

Core competencies Things a company does best. This term can also be applied to you—what technical or interpersonal strengths will help set you apart from your peers?

At a glance

Growth

Communication technology that helps companies manage customer information.

From 1997 to 2000, most firms shifted their focus from reengineering—which often meant downsizing— to growth. Growth involved taking a small private startup from, say, 25 or 30 employees to more than 500 and going public.

Deliverable The product or solution you give (deliver) to the client. If you promise an analysis of shipping costs, for instance, that’s your deliverable. Deliverables typically come with dates (when you will deliver) that are tracked, often by a project plan.

E-room

Engagement/project/study/case/job

Enterprise resource planning (ERP)

Framework

Operations These are the day-to-day tasks associated with the running of a company. In a manufacturing company, it includes the buying and processing of raw materials as well as the sale and distribution of the final products. Many consulting firms do a big business providing operations advice. At the simplest level, it means helping clients run their businesses better.

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FOR YOUR REFERENCE

Any kind of structure you can use to look at a problem. It can be as simple as, “The company’s problems stem from both internal and external factors.” Or it can be something more MBA-ish, like Porter’s Five Forces. Consultants love frameworks, and the more you use them (up to a point), the more analytical you’ll sound.

In consulting, this refers to any period of time during which you aren’t staffed to a project. Although you won’t necessarily see any sunshine here, you won’t have to be any place in particular, so there’s a chance you’ll be able to leave the office early, do your laundry, pay your bills, and maybe even see your honey. The wise consultant maximizes his time on the beach to take advantage of computer-based training, to help work on proposals, or any other activity that supports the growth of the business and allows him to network with senior folks.

Getting Hired

An IT solution to streamline operations by connecting all parts of a business electronically—including HR, billing, and inventory. A popular consulting project during the ’90s, ERP spurred double-digit annual growth for firms. Because the systems connect disparate parts of the company, implementing them can be a complex project.

On the beach The Workplace

These are all different ways in which firms refer to a specific project. Interviewers often note which term you use—just to see whether you’ve read the company literature. Using the wrong word is not an automatic ding, but you’ll impress your interviewer if you get it right.

These days, nobody admits to doing just pure strategy work. The reason? Too many consulting firms were criticized for leaving behind a big stack of slides that never resulted in any action by the client. As a result, all of the firms talk about how they work with clients to make sure their expensive analyses and recommendations are actually put into place. Implementation may also refer to the act of installing, configuring software, and training the users so they can use the system successfully.

On the Job

These are online databases at Deloitte, set up to house all the information gathered for a particular project and opened up to those assigned to that project. The e-room is typically opened up to all Deloitte employees after project completion as a learning and resource tool.

Implementation

The Firm

Customer relationship management (CRM)

At a glance The Firm

Deloitte Consulting Outsourcing

Value chain analysis

To reduce overhead expenses, companies are turning to outsiders to provide many of the functions and services traditionally done in-house. Popular candidates for outsourcing include accounting services, marketing communications, payroll management, and data processing. Increasingly, public firms are seeking out these services because they create stable revenue flows, which investors like.

An analysis of all the processes that go into a product, from the gathering of raw materials needed to make the product, to the delivery of the final product to the customer. At best, each stage adds value to the product.

Pay-for-performance

Getting Hired

The Workplace

On the Job

Billing based on performance, rather than strictly on hours.

Presentation In the traditional consulting project, the presentation was the means by which a consulting firm shared all of its insights and recommendations with a client company. The client’s top management team would assemble in a boardroom, and a partner or case team manager would spin through dozens of overhead slides displaying all of the completed analysis. Although the standard overhead slide show is now considered a bit sterile, it’s still a popular drill at most firms.

Project management office (PMO) Within each project at Deloitte, there’s essentially a PMO function responsible for scheduling from end to end, thus ensuring a smooth workflow and the right balance of resources to deliver quality results in a manageable time line. A project controller is assigned to each project to handle this responsibility.

Shareholder value analysis

FOR YOUR REFERENCE

The goal of many companies is to enhance their value to shareholders, and they engage lots of consulting firms to help them do it. There are all manner of ways, proprietary and not, to analyze shareholder value.

True north The place you want to get to. If you’re heading true north, you’re moving in the right direction. 40

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Virtual office/hoteling Sexy terms for an office setup in which nobody has a personal desk or office. It means you could be hanging out with the clerks at Kinko’s.

White-space opportunity A money-making opportunity in an area you aren’t set up to make money in. Think of it as an unbridged gap between what you do and what others do, or an untapped source of growth.

Recommended Reading “The Strategy Paradox” Michael Raynor, who frequently writes for Harvard Business Review, authored this new book that examines how leaders can implement strategy, deliver results, and reduce risk.

“If You Hate Buzz Words, You, Too, Can Fight the Bull” Brian Fugere, a former partner at Deloitte Consulting in San Francisco, along with Chelsea Hardaway and Jon Warshawsky, have authored A Bullfighter’s Guide: Why Business People Speak Like Idiots as a means of combating all the tribal lingo that consultants often employ and which raises the ire of clients. “Sometimes using a 50-cent word to make a 5-cent point is a way to hide the true meaning,” says Fugere, who adds that it’s also a ploy to avoid responsibility. According to Fugure, Deloitte ran a contest in which it received 9,000 submissions of people’s most hated business jargon. Contest winners got to go

“Irony of Ironies”

Source: Card News, April 6, 2005

Source: Investor’s Business Daily, Feb. 28, 2005

“Deloitte Survey Finds Looming Talent Crisis Threatens Companies”

Management Team Deloitte Consulting Revenue Year

Revenue (SM)

1-Year Change (%)

2006

4,640

8.0

2005

4,300

8.5

2004

3,963

-3.0

2003

4,100

-7.0

Paul Robinson, CEO Robert J. Glatz, CFO and secretary Michael DeBellis, CTO Manoj P. Singh, CEO, Asia Pacific Sabri Challah, global director, human resources

Recruiting Contacts Deloitte recommends that students contact their campus placement office or career center and apply for jobs through the company’s website. Experienced hires can register and apply online at http://careers.deloitte.com/gateway.aspx WETFEET INSIDER GUIDE

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The hiring of underskilled workers, as a result of the fast-approaching baby boomer retirement wave, declining educational standards, and failure to retain and manage top talent, poses the greatest threat to businesses’ growth over the next three years—this according to a study conducted by the human capital practice of Deloitte Consulting and Deloitte Research. The areas that will be hardest hit are life sciences, energy, and the public sector. The manufacturing, consumer business, and financial services industries

Key Numbers and People

Getting Hired

Deloitte is the only one of the Big Five—now Big Four—accounting firms, since the Enron scandal, to have held on to its consulting practice. It seems, at least for now, it has made the right decision. According to analysts, revenue growth is higher than average for business consultants at Deloitte Consulting. That said, analysts caution that Deloitte “could easily get stranded in a shrinking, high-end strategy consulting sector.”

Insiders say required reading at Deloitte Consulting is (surprise!) The Wall Street Journal as well as the Harvard Business Review and Consultants News, which is published by Kennedy Information, www.kennedyinfo.com/mc/overview.html.

The Workplace

“Deloitte Going Against the Grain in ‘Mixing’ Accounting, Consulting”

Periodicals

On the Job

Deloitte Consulting’s white paper “Calling a Change in the Outsourcing Market” documents the less-thansatisfied response from large companies hiring external vendors to take care of their IT needs. These companies are now bringing these responsibilities back into the fold because anticipated cost-cutting was not achieved.

Source: Consultants News, Feb. 16, 2005

The Firm

Source: Houston Chronicle, April 21, 2005

will also suffer. The key is to develop strong training strategies. Deloitte Consulting has come up with its own “Develop-Deploy-Connect” model to manage its key resource: its people.

At a glance

to a nonlethal bull-fighting school in San Diego. In addition, roughly 350 entries were used to build a “bull fighter” software program that scans documents for jargon. If it finds a match against the 350, Fugere says, “It will give you a tongue lashing and suggest an alternative word or phrase.” The free program can be downloaded at www.fightthebull.com.

At a glance The Firm On the Job The Workplace

WETFEET INSIDER GUIDES series Ace Your Case - Consulting Interviews Ace Your Case® I: Consulting Interviews, 3rd ed. Ace Your Case® II: Mastering the Case Interview Ace Your Case® III: Market-Sizing Questions Ace Your Case® IV: Business Operations Questions Ace Your Case® V: Business Strategy Questions Interviewing Ace Your Interview! Beat the Street® I: Investment Banking Interviews Beat the Street® II: I-Banking Interview Practice Guide The Wharton MBA Case Interview Study Guide: Volume I The Wharton MBA Case Interview Study Guide: Volume II Resumes & Cover Letters Killer Consulting Resumes Killer Cover Letters & Resumes Killer Investment Banking Resumes Job Hunting Getting Your Ideal Internship The International MBA Student’s Guide to the U.S. Job Search Job Hunting A to Z: Landing the Job You Want Job Hunting in New York City Job Hunting in San Francisco Financial Services Careers 25 Top Financial Services Firms Careers in Accounting Careers in Asset Management and Retail Brokerage Careers in Investment Banking Careers in Venture Capital Financial Services Companies Deutsche Bank Goldman Sachs Group JPMorgan Chase & Co. Merrill Lynch & Co. Morgan Stanley UBS AG

FOR YOUR REFERENCE

Getting Hired

Deloitte Consulting

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