Oliver Wyman is an American consulting firm founded in New York in 1984. They currently operate in over 60 countries worldwide, employing over 5000 people and earning revenues of $2.1bn. They are a highly reputable strategy firm often competing against McKinsey, Bain and BCG.
The firm is part of the Marsh & McLennan group, one of the largest professional service companies in the world and part of the S&P 500. The group provides insurance, risk, reinsurance, talent management and investment advisory services alongside the Oliver Wyman consulting practice.
Every year Oliver Wyman receive thousands of applicants to their open job roles and the case interview is the main interview mechanism they use to assess candidates. It is a business problem that candidates are expected to work through with their interviewer to find an appropriate solution.
2) What Oliver Wyman are looking for
Oliver Wyman have recently shifted their focus to being impact-driven and encouraging entrepreneurial people to lead their work. They have characterised what they are looking for in a candidate in four characteristics:
Initiative – With intense workloads and imperfect information, consulting requires all levels of staff to make decisions and be proactive in their work. For junior consultants this means anticipating what needs to be done next and not relying on a manager to completely dictate your task list.
Intuition– Oliver Wyman expects their consultants to be comfortable making decisions with imperfect information. Whilst grounding decisions in data and logic is important, certain decisions will have to be made with assumptions and being able to rely on previous knowledge to make intuitive decisions is sometimes the only way to maintain momentum in a project.
Creativity – The ability to be creative is often overlooked by aspiring consultants. Creativity in the business world is to be original and find new ways of finding answers, unlocking value for clients or getting work done. Clients are looking for new insights and methods that will give them an advantage over their competitors.
Problem solving – Every client engagement is focused around a problem they are facing and have not faced before. They are looking for a team of problem solvers that can provide a logical and structured answer to the problem.
3) Oliver Wyman application process
There are four stages to the Oliver Wyman application process:
The interview process at Oliver Wyman begins with a resume and cover letter submission online. Their typical recruitment cycle is in the Autumn each year but they do sometimes hire off-cycle, especially at smaller network firms. They are looking for candidates that reflect their four traits in their applications along with strong academic records and relevant experience.
The Oliver Wyman online assessment is a numerical reasoning style test commonly known as the Oliver Wyman numerical. It is a test of 23 questions involving brainteaser style numerical questions and is negatively marked.
Candidates that pass the online assessment are invited to first round interviews that are typically conducted by junior consultants and involve 15 minutes of a fit interview followed by a case interview question. There are two interviews in the first round.
The second round interviews are conducted by senior consultants (partners and directors) and follow the same format as the second round interviews. Following the second round interviews, candidates will be either given feedback or a job offer.