What factors are contributing to the 30% drop in applications for Oliver Wyman's summer internship program compared to last year?

Introduction

The 30% drop in applications for Oliver Wyman's summer internship program is a concerning trend that requires thorough analysis. I'll approach this issue systematically, examining internal and external factors to identify the root cause and develop effective solutions.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be a change in the application process. Has the application window or deadline shifted compared to last year?

Why it matters: Changes in timing could significantly impact application numbers. Expected answer: No changes to the application timeline. Impact on approach: If unchanged, we'll focus on other factors affecting student interest or awareness.

• Considering the competitive landscape, have there been any notable changes in internship offerings from other consulting firms?

Why it matters: Increased competition could explain the drop in applications. Expected answer: Some firms have expanded their programs. Impact on approach: We'll need to assess Oliver Wyman's value proposition relative to competitors.

• Reflecting on the recruitment channels, has there been any shift in how the internship program is being marketed to students?

Why it matters: Changes in outreach could affect application numbers. Expected answer: Similar marketing efforts as previous years. Impact on approach: If marketing is consistent, we'll explore other factors influencing student awareness or interest.

• Considering the application experience, have there been any changes to the application platform or process this year?

Why it matters: Technical issues or a more complex process could deter applicants. Expected answer: Minor updates to the online application system. Impact on approach: We'll investigate if these changes have created friction in the application process.