Consulting case interviews are a critical part of the hiring process for many top consulting firms. They are designed to assess a candidate’s problem-solving abilities, analytical skills, and ability to think on their feet.
Preparing for these interviews can be daunting, but with the right strategies and mindset, you can overcome this challenging hurdle.
In this article, I will share nine (9) key tips that helped me succeed in my MBB consulting case interviews.
1. Understand the Case Interview Format
Before diving into any type of preparation, it’s essential to plot out the different formats of case interviews across various consulting firms.
Firms such as McKinsey, Bain, and BCG may have slightly different approaches, so it’s beneficial to familiarize yourself with the specific styles of the firms you are targeting. McKinsey, for example, often uses interviewer-led cases, whereas BCG and Bain may use more candidate-led cases.
Typically, a case interview involves a business scenario presented by the interviewer, who will ask you to analyze the situation, identify key issues, and propose a solution.
The scenarios can range from market entry strategies to profitability analysis, mergers and acquisitions, and more.
2. Build a Strong Foundation in Business Concepts
A solid understanding of fundamental business concepts is crucial. If you are not from a business background, it is important to learn basic concepts such as market sizing, supply and demand, competitive analysis, and basic financial principles such as profit margins and break-even analysis.
Even though the resources could be considered outdated, I found it helpful to read “Case in Point” by Marc Cosentino to understand the basics.
3. Learn the basic frameworks
Familiarize yourself with common business frameworks such as the profitability framework, market entry, SWOT analysis (Strengths, Weaknesses, Opportunities, Threats), the 3Cs (Company, Customers, Competitors), and the 4Ps (Product, Price, Place, Promotion).
Use these frameworks as starting points and adapt them to fit the specific case, keeping in mind that consulting firms often present atypical cases where these standard frameworks may not be directly applicable.
4. Practice, Practice, Practice
The biggest hack to improving your case interview skills involves finding the right practice partners. This could be a fellow applicant or a mentor who has experience with case interviews. Practicing with others helps you get used to articulating your thought process out loud and receiving feedback.
I also leveraged online platforms like PrepLounge and CaseCoach, which offer interactive case practice with peers from around the world. Funnily enough, all of the people that I partnered with on case interview preparation ended up joining one of the MBB firms.
5. Hone Your Quantitative Skills
Case interviews often involve a significant amount of quantitative analysis. Brush up on your mental math skills, as you’ll need to perform calculations quickly and accurately without a calculator. I found that practicing math every night helped with my mental math skills and for specific types of case questions such as market sizing.
Make sure to also practice explaining your thought process step-by-step. This not only demonstrates your analytical skills but also allows the interviewer to follow along and provide guidance if needed.
6. Practice being quick on your feet
In case interviews, the interviewer may throw curveballs that require quick thinking. For instance, you might need to quickly analyze a complex graph and extract key takeaways. During my MBB interviews, I practiced this by finding a McKinsey graph on Google daily and summarizing its key insights in one minute. This exercise helped me think quickly on my feet and become familiar with the type of data that could be presented in a case interview.
7. Think Creatively and Be Hypothesis-Driven
Being hypothesis-driven means developing an initial hypothesis early in the case based on the information provided. As you gather more data, test and refine your hypothesis.
This approach helps you stay focused and efficient in your analysis. You don’t have to come to an answer that matches your hypothesis!
Likewise, consultants value creativity and the ability to generate innovative solutions. Don’t be afraid to think outside the box and propose unconventional ideas. However, ensure your recommendations are backed by sound reasoning and data.
8. Don’t Stress!
Case interviews can be stressful, but staying calm and composed is key to performing well. Practice mindfulness techniques such as deep breathing or visualization to help manage anxiety. Remember that it’s okay to take a moment to collect your thoughts before responding to a question. Interviewers are looking for candidates who can remain poised and think clearly under pressure.
9. Reflect and Learn from Each Practice
After each practice case, take time to reflect on what went well and areas where you can improve. Seek feedback from your practice partners and mentors and incorporate their suggestions into your preparation.
Keep a journal of your practice cases, noting down the types of cases you’ve tackled, the frameworks you’ve used, and any recurring challenges. This will help you identify patterns and track your progress over time. For me, I spent over two months preparing for my MBB interviews and I would review my past cases every week.
The bottom line
Mastering the case interview is a multifaceted process that demands strategic preparation, continuous practice, and a resilient mindset.
By understanding the case interview formats, building a strong foundation in business concepts, learning essential frameworks, honing your quantitative and analytical skills, and remaining hypothesis-driven, you can approach each interview with confidence. Reflecting on your practice sessions and continuously improving based on feedback will further enhance your readiness.
With dedication and the right approach, you have the potential to successfully navigate the rigorous case interview process and secure your place at a top consulting firm.
Jeff Zhang currently serves as a Consultant at McKinsey, specializing in private equity, transportation, technology, and sustainability sectors. Before this role, he spearheaded the creation of an innovative final-mile logistics product at a startup, later acquired by Shopify. His background includes significant experience in consulting, logistics and successful applications to global MBA programs.
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