2/26/2016 This is how to get through consulting case study interviews - eFinancialCareers

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This is how to get through consulting case study Search by keyword

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If you want to be the one person who secures a strategy consulting role of the 100 people who
apply, you need to know how to get through multiple case study interviews. Consultants and
investment banks tend to attract similar types of candidates, but it’s this interview style that really
proves a stumbling block for most people.
Tweet to @eFC_UK
I’ve worked at a big three strategy company for the last three years, and now interview graduates
coming on to our training programme. Here’s a few insider tips to get you ahead…

It’s all about practice
No one has an innate talent for to solve case studies; it’s a learned skill like everything else. Once
you’re in a strategy consulting role, firms will invest significant resources in training new hires to
tackle real life scenarios according to their own style and philosophy. In the meantime, you’re on
your own.

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2/26/2016 This is how to get through consulting case study interviews - eFinancialCareers

At interview, candidates are expected to show an elementary understanding of how to solve case
studies and demonstrate significant potential to become ‘expert’ problem solvers with practice. eFinancialCareers
They want to see that you are able to construct logical and efficient approaches to tackle varied 84,110 likes
scenarios.

This means you have to tackle the materials that these firms put online, and those of their
competitors, before you step into an interview. All the best candidates practice, and it’s this practice Like Page Sign Up

that gives them the confidence to tackle new problems during the interview process.
Be the first of your friends to like this
Still, the best practice you will get is actually at the interviews. Explicitly or through nudges and
steers, you will receive feedback and guidance during each interview you have. If you seem to be
receiving hints, you probably are. Graciously accept them and don’t be afraid to change course
based upon them – or argue why your approach is better. Give your interviewer confidence in your
ability to learn by demonstrating to them that you understand feedback well.

Use the frameworks as a starting point
You should study all the analysis frameworks needed to tackle case study problems. These need to
be in your back pocket at an interview.

As simple examples, you should know to break cost problems into variable and fixed cost parts, or
revenue problems into price and volume parts. Then dive into more problem-specific approaches,
using things like the 4Ps of marketing (product, place price, promotion), for instance.

Interviewers will expect you to know a handful of these ‘frameworks’ or business logics. Consultants
use them day-to-day. They give structure to your thought process and help you to quickly come up
with a solid set of mutually exclusive but contextually exhaustive (MECE) options to solve a problem.

Stand-out by doing two things with your frameworks, however.

First, don’t labour through what your frameworks are or why you’re using them. They should
structure your answer, not be your answer. Clients do not care about how a framework works – they
will just care about what it means for them. Treat your interviewer as though they’re a client.

Second, think ‘outside of the box’ that your framework sets up for you. Moulding the known to solve
the unknown is how top tier consulting differentiates itself. So acknowledge where your framework
is relevant and where its assumptions are less relevant for your scenario too.

If you can, then go on to suggest adjustments to it given this. As an example, in a heavily regulated
industry, the primary stakeholder could be a Government rather than any ‘customers’, which may
change the way you would operate and promote your goods. Show deep understanding and
intuition by adapting well to the specific problem.

Don’t make the interview into something it’s not
Consulting interviews are a test of potential ability, not maths. Interviews do involve maths, however,
and lots of candidates (I’d say up to half) fail in part because of concerns over their ability to handle
data. Many candidates bring this upon themselves, trying to impress interviewers with unnecessarily
complicated approaches to problems.

For detailed calculations consultants use Excel. In discussions we stick to round numbers and
simplified calculations. Take the initiative to do the same in your interviews. Don’t actively avoid
maths, but do actively simplify it. Often you get to choose the numbers, so be smart and do so
strategically.

Know the personality of your firm
Each of McKinsey, Bain and BCG have distinct personalities (http://news.efinancialcareers.com/uk-
en/221870/mckinsey-co-bain-co-boston-consulting-group-is-there-really-any-difference/) that they
look for. If you can, speak to an employee or two to scope this out. Very broadly, McKinsey is the
most ‘white-collar’, BCG is the most academic and Bain is the most down-to-earth.

You should adapt your interview style to project yourself as a perfect ‘fit’ for each culture.
Competition between the rivals is fierce, and if you project yourself as a great consultant, but
perhaps better suited to a rival, the chances are that you will be rejected. Courting a candidate likely

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2/26/2016 This is how to get through consulting case study interviews - eFinancialCareers

to opt for a rival is an expensive game that firms are reluctant to play. Make it known why you are
specifically keen in that firm over its competitors.

Whatever you do, seem assured
As a consultant you will quickly be put in front of clients. Partners (typically the final round
interviewers) therefore want to be confident that you’ll be a ‘safe pair of hands’ for their brand. This
will be tested in particular if you’re applying straight from university. They want to hire candidates
that possess the gravitas to get clients to buy-in to difficult concepts, or de-stress challenging
situations.

Always act professionally and project self assurance in your ability to manage each situation, even
when being asked difficult questions. They are purposefully testing your resilience. If you can
demonstrate an ability to remain composed and persuasive under pressure, partners are sure to be
impressed.

These are the guidelines I have to make it through the consulting interview, but remember there’s no
secret recipe. Consultants value diversity in their new recruits, so show your personality throughout
and have some fun…

The author is currently working for a large management consultant in the City of London. James
Smith is a pseudonym. 

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