Oliver Wyman Internships: Programs and Application Tips was originally published on Forage.
An Oliver Wyman internship allows undergraduate students to discover career paths in management consulting and actuarial sciences. Through these programs, students explore what it’s like to help Fortune 1000 clients solve complex problems. In this guide, we go over the internship and early-career opportunities at Oliver Wyman and provide you with tips for applying and landing a role at this prestigious consulting firm.
What is Oliver Wyman?
Oliver Wyman is a management consulting firm founded in 1984 in New York City. The firm is a wholly-owned subsidiary of financial services company Marsh McLennan. Oliver Wyman has more than 7,000 professionals working in over 70 offices across 30 countries.
The firm offers consulting services in a wide range of industries, including:
- Private equity
- Energy
- Health and life sciences
- Automotive
- Government
- Financial services
- Communication and technology
Oliver Wyman’s professionals provide consulting and guidance in pricing, marketing, organizational optimization, restructuring, risk management, actuarial sciences, and climate and sustainability.
>>MORE: Explore the top consulting firms of 2024.
What Are Oliver Wyman Internships?
Internships at Oliver Wyman are paid summer-long programs that allow students to explore management consulting and actuarial sciences careers. During an Oliver Wyman summer internship, students learn core professional skills and gaining exposure to consulting practices for different industries, like financial services or media. Students participate in authentic work alongside consulting and actuarial professionals, giving them an opportunity to gain exposure to senior leadership through their projects.
Students have a dedicated support team throughout their internship, including a career adviser, talent manager, mentor, and buddy. The firm boasts a flexible growth system, so growing within internships and roles at Oliver Wyman happens at the individual’s pace rather than adhering to a set growth framework. Additionally, students may be able to work in a hybrid manner and can join company social activities and employee resource groups.
Current and former interns on Glassdoor rate their experience a 3.8 out of 5, with 99% saying they’d recommend working at Oliver Wyman to a friend.
Who’s Eligible for Oliver Wyman Internships?
Eligibility for internships at Oliver Wyman varies by program and location. However, you typically need the following to qualify:
- Legally eligible to work in the U.S. without needing sponsorship
- Second-year undergraduate student (when applying) or current senior for recent graduate programs
- Demonstrated impact and leadership outside of school work, like extracurricular activities or volunteer work
- Ability to take initiative, problem-solving skills, creativity, and an analytical mindset
There’s no specific major required for Oliver Wyman’s consulting internships. However, you need to be studying a relevant subject for other programs, like actuarial internships. Students interested in actuarial internships should study areas like actuarial science, statistics, finance, or mathematics.
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Oliver Wyman Summer Internships and Student Programs
Oliver Wyman primarily offers internships in consulting, where students can explore the different industries in which the firm provides services. But the firm also offers internships in actuarial science and recent graduate programs in areas like aviation, transportation, and consulting.
Consulting Program
In Oliver Wyman’s consulting internships, students work with professionals to provide services and solve problems for Fortune 1000 clients. Under the guidance of mentors, interns participate in real work projects, gaining exposure to the firm’s senior leadership and practicing skills in client communications, problem-solving, and project management.
Some tasks consulting interns may handle include:
- Conducting research to help professional consultants better understand clients’ problems
- Managing and analyzing data
- Performing financial analysis and quantitative research on clients
- Communicating with clients
- Presenting research and analysis findings to teammates and clients
To prepare students for the internships and make the transition into Oliver Wyman more seamless, the company provides students with a week-long training at the start of the summer. Throughout the program, interns can learn more about the different industries Oliver Wyman services, including climate change and sustainability, technology, and finance.
Financial Services: Climate Change
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Actuarial Program
Oliver Wyman’s actuarial program allows students to flex their analytical skills while solving complex problems in risk assessment and management. The firm hires actuarial interns in business areas that serve self-insured group organizations, government entities, insurance regulatory agencies, insurance companies, and public and private businesses. Within the program, students may also be able to specialize in a specific type of insurance, such as property and casualty or life insurance.
Actuarial interns take on tasks like:
- Compiling data and performing analysis
- Assisting professional actuaries on projects in areas like cash flow projections and loss forecasts
- Summarizing and presenting findings from analysis
- Performing due diligence
- Creating financial models
Students also undergo an actuarial bootcamp that helps them solidify skills through presentations, mentorship sessions, and case studies. The firm looks for candidates who are familiar with business intelligence tools, using R and Shiny R for analysis, and working with data in Excel and other Microsoft Office programs.
Oliver Wyman CAVOK Recent Graduate Program
Oliver Wyman CAVOK is the aviation, energy, and rail technical consulting division of Oliver Wyman. For recent aviation college graduates, CAVOK offers rotational programs. Through these programs, graduates can explore technical consulting in focus areas like:
- Information technology (IT) enterprise solutions
- Maintenance programs and planning
- Engineering and reliability
- Operational improvement
- Fleet management and aircraft transactions
- Helicopters and unmanned aircraft systems (UAS)
Graduates develop skills in project management and client services, helping resolve client needs and handling compliance issues. While working with experienced professionals, rotational program participants present solutions to clients, perform in-depth research and analysis, and maintain client relationships. Additionally, graduates may have the opportunity to travel domestically and internationally depending on client needs.
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Applying for Internships at Oliver Wyman
When applying for an Oliver Wyman internship, you’ll need to provide a resume and cover letter. Your application should also include your current GPA, SAT or ACT scores, and an unofficial transcript.
According to Glassdoor, most applicants submit their applications online — 58% — while 39% report applying through campus recruiting efforts.
If you apply through Oliver Wyman’s online career portal, you can include additional information along with your resume and cover letter. For instance, you can include whether you have business-level fluency in any language. You’ll also need to choose your top three office locations, and you can include offices outside the U.S. if interested. You must also specify if you’d like to be considered for the financial services practice (focusing on banking and insurance industries) or the private capital practice (private equity and mergers and acquisitions).
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Interviewing for Oliver Wyman Internships
The interview process at Oliver Wyman consists of a mix of case studies and conversational interviews. Those who have gone through Oliver Wyman interviews rate them a 3.4 out of 5 for difficulty on Glassdoor, meaning they’re slightly more challenging than average. However, 68% also describe their experience as positive, while only 24% describe it as neutral.
Conversational Interviews
Conversational interviews allow the company to better understand your background and interests and serve as a chance for you to find out more about the company and the internship. Don’t forget to brush up on common interview questions to prepare; you should be ready to explain your strengths and weaknesses and discuss why you want to work for Oliver Wyman.
When answering behavioral interview questions, remember to use the STAR method: describe the situation and what task you needed to complete. Then, explain what actions you took and the results of your efforts. Practicing the questions common in consulting interviews or actuarial interviews can also help you prepare.
Case Study Interviews
Case study interviews allow the interviewer to see your problem-solving skills in action. Through these interactive exercises, the interviewers can assess how well you communicate ideas, use and evaluate data, think outside the box, and ask relevant questions. In addition, these types of interviews let you show the company how you think through and approach problems.
Oliver Wyman provides some tips to help you prepare for case study interviews:
- Pinpoint the issue
- Ask clarifying questions
- Break the problem down into smaller parts
- Structure your thought process
- Choose an approach and be able to justify your choice
- Use data to analyze the problem
- Show quantitative skills
- Summarize key findings effectively
The firm has sample case studies (Wumbleworld Case and Aqualine Case), so you can practice your skills beforehand.
>>MORE: Learn more about how to ace case study interviews.
Tips for Landing Oliver Wyman Internships
If you’re interested in interning at Oliver Wyman, remember to network effectively, do your research, and ask questions in your interviews to stand out from the crowd.
Attend Recruiting and Networking Events
Oliver Wyman hosts recruiting events which are a great opportunity to network with people who can get your application seen. Ultimately, who you know matters, so networking with campus recruiters, company employees, and talent acquisition leaders can improve your chances. If there aren’t any virtual or in-person events near you, you can always reach out to relevant employees or recruiters on LinkedIn. Remember when networking to always be professional, friendly, and show your excitement for Oliver Wyman.
>>MORE: Learn the fundamentals of virtual networking.
Research Oliver Wyman Thoroughly
The more informed you are about the company, the more confidently you can speak about why you’re interested in working there. By staying up to date with Oliver Wyman’s activities, researching the role you’re interested in, and having a solid understanding of the company’s culture and history, you can stand out to recruiters and make yourself a memorable candidate.
Ask the Interviewer Questions
Don’t forget to ask the interviewer questions throughout both your conversational and case study interviews. By asking questions, you demonstrate your engagement and excitement about the company. And, asking questions makes you more memorable — you begin to form a personal connection with the interviewer, which can improve your chances of making it to the next step.
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