Oliver Wyman Numerical & Verbal Reasoning Assessment Tests and Recruitment Process Online Preparation – 2024

What Is Oliver Wyman?

Oliver Wyman is a global management consulting firm with a focus on financial services and banking. Founded in 1984, Oliver Wyman became one of four of Marsh & McLennan Companies’ business units and operators when they were acquired in 2003. Oliver Wyman offers consultation services in a wide array of sectors (automotive, energy, education among others), and needs candidates for the following roles with knowledge of one or more of these fields.

• Actuarial
• Consultants
• Corporate Finance
• Operations
• Digital

Oliver Wyman employs almost five thousand people across 29 countries and has market competitive benefits for their employees. They offer benefits including, but not limited to:

• Retirement Savings Plan
• Vacation Days & Paid Time Off
• Support for Parents
• Health Insurance
• Vision and Dental Insurance

What Is Oliver Wyman’s Hiring Process?

Oliver Wyman’s hiring process is comprised of about three to four rounds of recruitment. Each round measures competency, aptitude, and personality. While the process is fairly standard, it is subject to vary based on role and location.

Initial Screening

The submission and review of a candidate’s application and CV serve as the initial screening. Completing the application form should only take about ten minutes; they also ask for a cover letter and transcripts. Oliver Wyman will contact you if they wish to proceed with the interview process.

Interview Process

Oliver Wyman utilizes multiple rounds of recruitment to find candidates who align with the company values and who have a pool of industry knowledge. If you are a job seeker interested in working for Oliver Wyman, you can expect the interview process to look like this:

• Online Assessments
• Conversational Interview
• Case Interview
• Fit Interview

What Are Oliver Wyman’s Online Assessments?

Oliver Wyman administers online assessments to gain insight into the candidate’s capabilities. The online assessments are an objective measure of skills and strengths. The following assessments are common for applicants at Oliver Wyman.

• Numerical Reasoning Test
  Oliver Wyman’s numerical reasoning test evaluates the mathematical abilities of candidates. The test lays out a hypothetical business scenario that the candidate must solve such as: The company has annual sales of $800,000, of which 4% is profit. The CEO wants to increase the profit margin to 11%, but costs are set to rise by 9%. By how much must sales increase? There are twenty multiple-choice questions with a thirty-minute time limit. During your preparation for the numerical reasoning test, you should brush up on your geometry, probability, and combinatorics.
• Verbal Reasoning Test
  Oliver Wyman’s verbal reasoning test analyzes the candidate’s proficiency in discerning between facts and inferences; extracting main ideas and maintaining focus on relevant information. The format will provide the candidate with a passage of information followed by a handful of statements which must be marked true, false, or cannot say based on the information provided. There will be a forty-five second time limit on each question.

Conversational Interview

The conversational interview is usually a phone call a week or so after the online assessments have been successfully completed. The purpose of the interview is so the company can learn more about the candidate and vice versa. Common questions are motivations for working at Oliver Wyman and knowledge of the role that has been applied for.

Case Study Interview

Oliver Wyman holds case study interviews to evaluate a candidate’s problem-solving skills, including their approach and the method they utilize to find a solution. The case studies are hypothetical but similar to actual problems Oliver Wyman has had to handle in the past. The candidate must propose the ideal course of action that the ‘client’ should take after pinpointing the issue and breaking down the data.

Fit Interview

Oliver Wyman’s fit interview assesses the candidate’s suitability for the environment and culture at the company. The fit interview is a series of one-on-one’s with support professionals and senior consultants. The case study interview and the fit interview are back-to-back, and each will take about thirty minutes. After the fit interview, the recruiting team has each interviewer fill out an evaluation form that determines their final decision.

Internship Application Process

The interview process for interns is nearly identical to that of the more experienced candidates. Potential interns will have two rounds of interviews, each consisting of a behavioural and a case study interview. One of the case study interviews require that the candidate presents the proposed course of action to senior members and/or support professionals. This presentation will be graded not only on the content, but on the delivery as well. The behavioural interviews are essentially fit interviews, but they are more resume-based because a student or graduate will have less office experience than older candidates. These interviews are the best time to share any community service you have done as well as sharing instances when you have demonstrated strong leadership and communication skills.

Pre-Employment Checks

Oliver Wyman performs lengthy background checks that can take anywhere from one to two weeks. The company is verifying your educational qualifications, work experience and criminal history. If the background check is clear, the candidate can expect a call with an offer and a discussion about onboarding.

What Qualities Does Oliver Wyman Look For?

During your interviews, you will have to demonstrate how you align with the company’s values. Oliver Wyman favours candidates who possess the following qualities:

• Intelligent
• Energetic
• Passionate
• Emotional Sensitivity
• Commitment to Excellence

As active members of the community, Oliver Wyman is also looking for candidates with a philanthropic background. On their website, they have articles detailing their latest charitable endeavours; try to form connections between their community service and that of your own.

How to Prepare for Oliver Wyman’s Online Assessments?

Oliver Wyman rejects about 60% of applicants based on how they score on their online assessments. Preparation for these tests is key to proceeding to the next stage of the interview process. It is highly recommended that a candidate will take practice tests online. The practice tests will familiarize you with the format and the general idea of the content. The biggest issue most applicants face is the time constraint; they usually end up skipping a considerable percentage of the problems. With practice tests, you can optimize your chances of achieving a high score by getting used to answering the questions with a limited amount of time.

Conclusion

Oliver Wyman has a constructive work environment and poses a great opportunity for growth whether it be those applying for internships or for a senior position in the company. They will be evaluating your competency, skills and personality over the course of a month. While the steps toward employment at Oliver Wyman seem extensive, a job is in arms reach with the right amount of preparation and practice. Best of luck!