Hey everyone! Are you a bright, ambitious student dreaming of a career in the exciting world of strategy consulting? If so, you've probably heard of EY (Ernst & Young) and their highly sought-after internship programs. Getting an EY Strategy Consulting Internship can be a game-changer, opening doors to incredible opportunities and setting you on the path to success. This guide is your one-stop shop for everything you need to know about landing an EY Strategy Consulting Internship, from understanding the role and responsibilities to acing the application process and thriving during your internship. Let's dive in and get you ready to make your mark!

What is an EY Strategy Consulting Internship?

So, what exactly does an EY Strategy Consulting Internship entail? Well, it's your chance to get a firsthand look at what it's like to be a strategy consultant at one of the world's leading professional services firms. During your internship, you'll be working on real projects, alongside experienced consultants, helping clients solve complex business challenges. This is your chance to shine, learn, and grow, all while making valuable connections within the industry. EY's Strategy and Consulting practice focuses on helping clients across various industries with everything from developing growth strategies and improving operational efficiency to navigating digital transformation and mergers & acquisitions. As an intern, you can expect to be involved in various tasks, including:

• Market research and analysis: Gathering and analyzing data to understand market trends, competitive landscapes, and customer behavior. This includes utilizing various research methods and tools to derive meaningful insights.
• Data analysis and modeling: Using data to develop insights, create financial models, and perform quantitative analysis to support strategic recommendations. You might use Excel, SQL, or other data analysis software.
• Client communication and presentation: Interacting with clients, participating in meetings, and creating presentations to communicate findings and recommendations effectively. This includes developing strong written and verbal communication skills.
• Project support: Assisting with project management tasks, such as scheduling meetings, tracking progress, and preparing project deliverables. This role involves learning how to manage time, prioritize tasks, and work collaboratively within a team setting.
• Developing strategic recommendations: Contributing to the development of strategic recommendations and solutions for clients, based on your research and analysis. This involves critical thinking, problem-solving, and the ability to synthesize information from various sources.

The specific responsibilities of an EY Strategy Consulting Internship will vary depending on the project, the team, and your level of experience. However, the overall goal is to provide you with a comprehensive understanding of what strategy consulting is all about and to help you develop the skills and experience you need to succeed in the field. It's an excellent opportunity to gain practical experience, apply your academic knowledge, and build a strong foundation for your future career. The internship gives you exposure to different industries and client engagements, allowing you to discover your areas of interest and build your professional network. Moreover, it boosts your resume and makes you a strong candidate for full-time positions.

The Benefits of an EY Strategy Consulting Internship

Why should you consider an EY Strategy Consulting Internship? The benefits are numerous, and the experience can be incredibly rewarding. Firstly, it gives you unparalleled exposure to the world of consulting. You'll work on diverse projects across various industries, gaining valuable insights into how businesses operate and how to solve their toughest challenges. You'll witness how consulting teams tackle complex problems, which will boost your critical thinking and problem-solving skills.

Secondly, an EY Strategy Consulting Internship provides a unique opportunity for professional development. EY invests heavily in its interns, providing training, mentorship, and opportunities to learn from experienced consultants. You'll have access to resources, and experts. You'll also build a strong professional network, as you'll interact with colleagues from diverse backgrounds and experience levels. Mentorship programs also offer invaluable support and guidance throughout the internship.

Thirdly, interning at EY can significantly boost your career prospects. A successful internship can lead to a full-time job offer. Even if you choose to pursue a different path, the experience and skills you gain will make you a highly competitive candidate in the job market. EY is a respected name in the industry, and having an internship on your resume immediately makes you stand out. The experience will provide you with a competitive edge when you apply for similar roles at other consulting firms or in corporate strategy departments. Moreover, you'll have a deeper understanding of the business world, which will be invaluable regardless of your chosen career.

Finally, an EY Strategy Consulting Internship is a great way to experience EY's culture and values firsthand. EY is known for its inclusive and collaborative environment, and you'll have the opportunity to work alongside people from different backgrounds and perspectives. You'll witness firsthand the importance of teamwork, respect, and innovation. The internship experience allows you to assess if EY's culture aligns with your own values and career aspirations. Participating in company events, social gatherings, and networking sessions will enhance your sense of belonging.

How to Apply for an EY Strategy Consulting Internship

Okay, so you're sold on the idea of an EY Strategy Consulting Internship! Awesome! Now, let's talk about the application process. It's a competitive process, but with the right preparation, you can significantly increase your chances of success. Here's a step-by-step guide to help you through the application process:

1. Research and Preparation: Before you even start filling out the application, take some time to research EY, its Strategy and Consulting practice, and the specific internship opportunities available. Understand EY's values, culture, and the types of projects they work on. Review the job description carefully, noting the required qualifications and skills. This will help you tailor your application to match their needs.
2. Online Application: The first step is typically the online application. You'll need to create a profile on the EY career portal and provide information about your academic background, work experience, and extracurricular activities. Be sure to proofread your application carefully and ensure that all information is accurate and up-to-date. Highlight your achievements and skills in a way that showcases your suitability for the role.
3. Resume and Cover Letter: Your resume and cover letter are critical components of your application. Your resume should highlight your relevant skills, experiences, and academic achievements. Tailor your resume to the specific internship role, emphasizing the skills and experiences that align with the job description. Your cover letter is your opportunity to express your interest in the position and explain why you're a great fit. Highlight your passion for consulting, your understanding of EY's values, and your relevant skills and experiences. Show your personality and enthusiasm. Make it engaging.
4. Online Assessments: Many firms, including EY, use online assessments to evaluate candidates. These assessments typically include aptitude tests, personality assessments, and case study simulations. Practice these assessments beforehand to familiarize yourself with the format and content. This will help you to manage your time effectively and perform your best during the actual assessments. Familiarize yourself with case study frameworks, as you might need to analyze and interpret data to answer questions.
5. Interviews: If you pass the initial screening, you'll likely be invited to participate in interviews. The interview process usually consists of multiple rounds, including behavioral interviews, case interviews, and possibly a fit interview. Prepare for behavioral interviews by practicing the STAR method (Situation, Task, Action, Result) to describe your past experiences. For case interviews, practice solving business problems using frameworks and demonstrating your analytical skills. Do your research on common consulting case study types and practice solving them. Be prepared to discuss your understanding of the industry, EY, and the role. Express your enthusiasm and passion. Ask thoughtful questions about the role and the company. Show genuine interest.
6. Case Interviews: Case interviews are a crucial part of the process. They assess your problem-solving skills, analytical abilities, and your ability to think on your feet. Practice case interviews with friends, classmates, or career counselors. Familiarize yourself with different case types, such as market sizing, profitability, and new market entry. Learn and apply case frameworks like Porter's Five Forces, SWOT analysis, and the 4Ps of marketing. Practice your presentation and communication skills to clearly articulate your thought process.

Tips for Success During Your EY Strategy Consulting Internship

Congratulations, you landed an EY Strategy Consulting Internship! Now comes the fun part: making the most of your experience. Here are some tips to help you thrive during your internship:

• Be Proactive and Take Initiative: Don't be afraid to take on new challenges and go the extra mile. Ask your supervisor or team members for additional tasks and opportunities to learn. Demonstrate a willingness to contribute and a desire to make a positive impact. Look for opportunities to take initiative and contribute beyond your assigned tasks.
• Ask Questions: Don't be shy about asking questions. The consultants are there to help you learn and grow. Asking questions is a sign of engagement and a genuine interest in understanding. Always ask for clarifications and seek guidance when needed. Be curious and learn as much as you can.
• Build Relationships: Network with your colleagues, mentors, and other professionals within EY. Attend company events, team meetings, and networking sessions. Building relationships can open doors to future opportunities and provide valuable support throughout your career. Networking is one of the most powerful things you can do during your internship. Networking can lead to full-time job offers and ongoing professional growth.
• Seek Feedback: Regularly ask for feedback from your supervisor and team members. Use this feedback to identify your strengths and weaknesses and to improve your performance. Ask for specific feedback on your work and performance, and be open to suggestions. Use the insights to identify areas for improvement and areas where you excel.
• Embrace Learning: Be open to learning new things and challenging yourself. Take advantage of the training and development opportunities provided by EY. Embrace the learning opportunities that will enhance your skills and your understanding of the consulting industry. Focus on learning as much as you can about consulting methodologies, project management, and industry-specific knowledge.
• Manage Your Time Effectively: Consulting projects can be demanding, so it's essential to manage your time effectively. Use tools and techniques to organize your workload and meet deadlines. Prioritize tasks, and learn how to manage your time effectively. This will help you balance your workload and ensure that you complete your tasks successfully.
• Be Professional: Maintain a professional demeanor at all times. Dress appropriately, communicate clearly, and treat everyone with respect. Demonstrate strong communication skills in all your interactions, both written and verbal. Show enthusiasm and commitment to your work and to EY's values.
• Reflect and Evaluate: Regularly reflect on your experiences and evaluate your progress. Assess your accomplishments, identify areas for improvement, and set goals for your future career. Reflect on your strengths and weaknesses and set realistic goals for future growth. Reflect on the skills you have developed, and think about your career aspirations.

Conclusion: Your Journey to EY Begins Here!

An EY Strategy Consulting Internship is an incredible opportunity to jumpstart your consulting career. By following the tips and advice in this guide, you'll be well on your way to acing the application process, thriving during your internship, and building a successful career in strategy consulting. Good luck, and remember to always stay curious, be proactive, and embrace the exciting journey ahead! You've got this!