Interview resources

There are 2 parts to a consulting interview:

i) Behavioral questions, where the interviewer asks about:

1. Strengths/weakness
2. Teamwork/leadership experience
3. Motivations/goals

ii) Business case, where the interviewer presents the candidate with a problem.The candidate is expected to:

1. Break down the problem logically
2. Develop hypotheses
3. Interpret data
4. Formulate recommendations

Often called “the fit portion” or alternatively “PEI” (personal experience interview). It is crucial not to neglect this portion of the interview and practice is key. Several best practices include:

1. Have a collection of stories ready to tell
2. Avoid rambling – keep answers to a max of 3min
3. Emphasize leadership, entrepreneurial drive, personal impact
4. Know why you are interested in consulting
5. Take a moment to collect your thoughts before replying

Here, you will be presented with a business problem to solve. Examples include: finding out why a company might be experiencing reduction in profits or evaluating strategies for a product launch. Cases are about 25-35mins long

There are two types of case interview formats.

1. Interviewer led: Primarily for McKinsey. The interviewer asks the candidate a series of discrete questions.
2. Interviewee led: For Bain & BCG and most others. The interviewer provides some initial info but the candidate is expected to lead the conversation.

Regardless of format, you may have to complete the following tasks in solving the case:

1. Draw out a “framework” outlining how you intend to solve the problem
2. Develop a hypothesis surrounding the main question (e.g. reasons for decreased profits)
3. Interpret charts/maps/data
4. Calculate relevant business metrics
5. Propose and defend a solution

Some best practices for cases include:

1. Taking clear notes
2. Drawing concise and MECE frameworks (mutually exclusive, comprehensively exhaustive)
3. Focusing on the main question
4. Communicate your hypotheses
5. Communicate your thought processes and intentions
6. Practice doing math accurately + fast
7. Be able to defend recommendations rationally

A crucial part of interview prep is case practice among peers. Therefore, it is very important to be able to give a case well. Some best practices include:

1. Read through the case beforehand
2. Know what information should be given and what calculations to do
3. Know the trigger for each step, i.e. knowing when to present the candidate with data if requested
4. For interviewee-led, let the candidate explore the case and make mistakes instead of correcting them immediately
5. Nudge interviewees in the right direction if they are spending too much time (>30min on 1 case)
6. Give clear, specific feedback

Ready to begin hands-on interview prep? Here are some resources to get you started:

Club resources

1. Interview prep series
2. Online material repository with practices cases & slides from the interview prep series
3. Case partner matching spreadsheet

Business news sources

1. WSJ
2. The Economist
3. Fierce Biotech/Pharma/etc
4. Endpoints

Business podcasts

1. The Motely Fool
2. Freakonomics
3. Planet Money
4. Numbers Geek
5. McKinsey Podcasts
6. Market Place
7. Victor Cheng’s Look Over My Shoulder
8. FirmsConsulting
9. MConsulting Prep
10. MasterTheCase
11. CaseInterview
12. Management Consulted

Books – more available through Lane Library

1. Case in Point: Complete Case Interview Preparation by Marc Cosentino
2. Case Interview Secrets: How to Get Multiple Job Offers in Consulting by Victor Cheng
3. How to Get Into the Top Consulting Firms by Tim Darling
4. Ace the Case
5. The 10-day MBA: A Step-by-Step Guide to Mastering the Skills Taught in Top Business Schools by Steven Silbiger
6. Crack the Case System: Complete Case Interview Prep by David Ohrvall

Other Miscellaneous

1. Vault Career Insider guidebooks. Login using Free Student Access
2. Victor Cheng’s website
3. Consulting Case 101 database
4. Prep Lounge: Mental math prep tools, Get connected with ADCs worldwide, Sharpen your Consulting Skills, and Much More!
5. FastMath Crack the Case: multiple prep cases and videos
6. Street of walls: Consulting Overview, Basic Frameworks, Sample Behavioral Questions & More!