Tom SpencerThe Three C’s Framework may prove extremely valuable for consulting case questions. It can help to assess the business situation in the context of entering a new market, M&A, product development, and starting a new business. It involves examining customers, competition, and the company. 1. Customers Eight (8) factors to consider when examining the customer. 1. Customer […]
The profitability framework is probably the most important framework for solving consulting case questions Profit equals revenue minus cost. 1. Revenue Revenue is normally thought of as being a function of price per unit and units sold. Declining revenue can derive from a fall in prices or a reduction in units sold, and can be […]
(Source: Flickr) In this post we outline some mathematical concepts that may prove useful for solving consulting case questions. 1. Break Even Analysis: Relevant when trying to decide whether to launch a new product or invest in a project with high fixed costs. 2. Customer Lifetime Value: Customer lifetime value is a prediction of the entire future […]
I was grateful for the recent opportunity to communicate with Jennifer Marsh, Global Head of Public Relations Strategy, and Cheryl Coulthurst, Global Head of Talent Acquisition, at North Highland. Founded in 1992, North Highland is an employee-owned global management consulting firm that has been named as a Best Firm to Work For every year since 2007 […]
(Source: Flickr) Below we provide a selection of sample consulting case questions. The questions are broken down into seven (7) question types to make them easier to digest. 1. Declining Profitability Our client is eBay. Its share price fell from $310 to $200 per share on reports of declining profits. What’s going on and how […]
(Source: Flickr) At the end of a case question it is important to provide a summary of the problem and a set of actionable recommendations that answer the question. Recommendations should be justified with the key findings that you had been noting down as you progressed through the case. For example, you might say something like […]
(Source: Flickr) The second stage of a consulting case question, after setting it up, is to solve the problem. Here are six (6) tips for successfully tackling a case question: Find the source of the problem – You might get asked a question such as “Profits have declined, what should we do?” Before diving head long […]
(Source: Flickr) When it comes to answering a consulting case question, there are three stages to the answer: setting it up, solving it, and providing a recommendation. The first stage is setting it up, and below we provide five (5) steps to setting up a case question: 1. Summarize the question Give yourself time to think by writing down […]
I recently had the good fortune to talk briefly with Adam Fraser who is a Business Analyst at Cartesian. Cartesian is a specialist provider of consulting services and managed solutions to leaders in the global communications, technology and digital media industries. Please read the edited transcript of my discussion with Adam below. This will be […]
(Source: Flickr) If you get stuck during a case question then there are four (4) things you can do to regain momentum. If the interviewer has just given you some information then you can say something like “let me take a second to consider that information”. You can safely stay silent for up to 90 seconds […]
(Source: Flickr) The business case question is the cornerstone of the consulting interview, and consulting firms use it to assess a candidate for a number of qualities: Structured thinking; Numerical ability; Communication skills; Comfort with ambiguity; Speed of thought; Knowledge of key business concepts; Enthusiasm for consulting; Calm resolve under pressure; and Ability to represent […]
(Source: Flickr) Factor questions are a type of question that you may come across in consulting interviews. They are designed to help the interviewer see how you think, and you might be asked a question such as “What factors influence X, Y, Z?” or “What factors would you consider when A, B, C?”. An example […]
(Source: Flickr) Last week we provided a list of ten (10) sample brainteasers that you might come across in consulting interviews. If you didn’t read the post, you might want to read it before taking a look at the answers below (to read last week’s post, click here). Answers to Sample Brainteasers A round manhole cover cannot fall […]
I recently had the opportunity to communicate with Janine Clifford, Recruitment & HR Manager at L.E.K. Consulting. L.E.K. Consulting is a global management consulting firm that uses deep industry expertise and analytical rigor to help clients solve their most critical business problems. Please read my discussion with Janine below. This will be of particular interest […]
(Source: Flickr) Brainteasers are another kind of question that you might confront in consulting interviews. They are likely to be tricky and to require “out of the box” thinking. Why do interviewers ask brainteasers? Well, since clients can sometimes ask questions which have no immediate or obvious answer, the goal of the brainteaser is to assess […]
(Source: Flickr) In consulting interviews, the interviewer may quiz you on your quantitative skills with one or two short maths questions. Below we outline six (6) sample math questions to give you an idea of what to expect: What is 13 x 13? What percentage is 5 of 42? The total smart phone market is $900 […]
(Source: Flickr) The guesstimate question (market sizing or other) is one of the types of question you are likely to encounter in consulting interviews. Below we list twenty three (23) sample guesstimate questions broken down by question type. Population Questions How many births are there in America each day? How many petrol stations are there […]
(Source: Flickr) A guesstimate question can be approached by breaking a question down into smaller pieces by asking the interviewer questions and making a series of narrowing assumptions. You can break a question down either by starting big (e.g. making an assumption about the total population) or starting small (e.g. making assumptions about the average household […]
I was grateful for the recent opportunity to talk with Heather Tortorello, the talent growth director at Vivaldi Partners Group. Founded in 1999, Vivaldi Partners Group works across industries to help build strong brands, ignite innovation and drive growth by connecting business strategy with a deep understanding of changing customer contexts. Please read the edited […]
(Source: Flickr) The guesstimate question frequently comes up in consulting interviews. It will often be a market sizing question, which may be a standalone question or part of a larger case question. What will you be asked to do? The typical guesstimate question will require you to estimate a number by doing a rough “back […]
(Source: Flickr) In consulting interviews, when you are asked a behavioural interview question, you will typically want to include five things in your answer: A specific situation; The goal you set for yourself or obstacle you faced; The action you took; The outcome achieved; and What you learned from the experience. [For more information on consulting interviews, […]
(Source: Flickr) Behavioural interview questions are one type of question that you are likely to encounter in the consulting interview. Below we provide thirteen (13) sample questions to give you an idea of what to expect: Tell me about yourself. Can you provide an example of a time when you demonstrated leadership? Can you provide […]
(Source: Flickr) In consulting interviews, the interviewer is likely to ask questions based on your résumé with the aim of understanding your skills and experience. Your résumé may provide a structure for these kinds of interview questions, but you also need to be prepared to elaborate on your experience including by highlighting your skills using […]
This is a guest post from Archie Ward, a business consultant and social media strategist. Archie splits his time each year between Asia and Australia. While he is hard at work helping other people make their businesses successful, he hopes to launch his own by year end. Consultants rely on image as much as they […]
(Source: Flickr) Below we outline twelve (12) tips for nailing the guesstimate question: 1. Practice Practice doing some guesstimate questions before the interview so that you are prepared. It is a good idea to bring a pen and graph paper to the interview so that you can keep track of your calculations. 2. Know some […]
I recently had the good fortune to speak with Nigel Lake, CEO of Pottinger, a global corporate advisory firm based in Sydney, Australia. Nigel is a truly original thinker who combines a good sense of humour with sharp strategic insights and clarity of thought. I had originally intended to ask Nigel some questions about Pottinger […]
(Source: Flickr) Another question that may come up in the consulting interview is “have you ever failed at anything?” This question is designed to assess your ability to learn from experience, and overcome obstacles. In preparing a response to this kind of question, develop a story about a time that you were not able to […]
(Source: Flickr) In the consulting interview, your interviewer is likely to ask you the following straightforward question, “why consulting?” Relevance of the question The question is relevant for two reasons: Your interviewer is likely to ask it in the interview; and You will be much more likely to succeed (in the interview and afterwards) if you […]
(Source: Flickr) There are six types of questions that you may encounter in the consulting interview: Behavioural interview questions; Guesstimate questions (aka market sizing); Math questions; Brainteasers; Factor questions; and Business case questions (these form the cornerstone of the consulting interview). [For more information on consulting interviews, please download “The HUB’s Guide to Consulting Interviews“.]
(Source: Flickr) Case questions form the cornerstone of the consulting interview, and reading this blog or reviewing the case prep resources listed below will not be sufficient preparation. If you want to perform successfully, then you will need to do a lot of practice. Many experts recommend at least 30 mock case interviews with friends, […]
(Source: Flickr) It will help your consulting application if you have prior business experience, however if you come from a non-business background all hope is not lost. You can strengthen your consulting application by showing how your experience demonstrates team work, leadership, and an ability to achieve positive outcomes. Use ‘action-outcome’ language in your résumé. That […]
(Source: Flickr) I recently had a conversation with a friend who is studying a PhD here in Oxford. She is originally from China, and her intelligence is only exceeded by her work ethic and desire to make her PhD supervisor happy. She confessed to me with a look a mild despair on her face, “I am making slow progress. […]
(Source: Flickr) Are you keen on management consulting but have poor grades? If you have poor university grades, you may face an uphill battle getting an interview at a top consulting firm. But don’t despair just yet. There are two steps you can take to combat this hurdle. You can highlight your most impressive work experience in […]
I recently had the chance to correspond with Georgia Hewett who handles Corporate Communications for Accenture in Australia/New Zealand. Georgia was extremely helpful and was kind enough to answer some questions I had about Accenture and its recruitment process. If you are a student, recent graduate or aspiring consultant looking to land a consulting job […]
(Source: Flickr) It is a figure of speech that “empty vessels make the most noise”. And for verbal conversation this would appear to be a good observation. People who are not thoughtful are likely to say whatever comes to mind since they don’t think to filter good thoughts from bad, obnoxious thoughts from nice ones. In self defense, these people will often be […]
I recently had the chance to talk with Stephanie Green, Manager of Talent Acquisition for Europe, the Middle East and Africa at IMS Consulting Group. If you have an interest in life sciences, either through your studies or previous work experience, then IMS Consulting Group could be the perfect place to enhance and grow your […]
(Source: Flickr) Top consulting firms receive thousands of applications per year, and so your cover letter and CV form a crucial first step in your application that will determine whether you secure a first round interview. You need to tailor your cover letter and CV for each application and highlight your most impressive and relevant […]
Before taking decisive action, it may be a good idea to assess the lay of the land According to Sun Tzu, the quality of decision “is like the well-timed swoop of a falcon which enables it to strike and destroy its victim.” And much like a circling falcon overhead, a company needs to take a […]
(Source: Flickr) Applying for consulting roles in Australia, or thinking about it? We have updated our list of Australian consulting firms, which includes a list of firms along with information such as firm background, services, sectors, office locations, and links to the most relevant careers websites. It might come in handy. To download the document, click here (it’s free).
(Source: Flickr) This post considers how to build consulting relationships. Some people appear to believe that the goal of attending networking events is to collect as many business cards as possible. This was always the wrong approach, however in a world with LinkedIn, it is also absurd since a person’s business card will contain much less information than […]
(Source: Flickr) AS an aspiring consultant, the purpose of networking is to gain industry contacts, learn about your target firms, and obtain names that you can use in your application cover letter (e.g. “I am applying to Bain following my discussion with your Associate John Citizen at the recent New York University careers fair.”). There are various ways to […]
May amuse. [Hat tip to Roger Look.]
WE have updated our free guidebooks which outline key details of the most prominent management consulting firms in America and the UK. If you are an aspiring consultant with an interest in the USA or the UK, then this will probably be of interest to you. You can download the free guidebooks here and here.
(Source: Flickr) IN this post we look at researching consulting firms. Why, how and what should you research? Below we provide some ideas to help make your research as effective and efficient as possible. 1. Why should you research? Take control of your career. Researching consulting firms doesn’t just help you prepare your application and […]
WE were grateful for the recent opportunity to talk with Amanda Melo, recruitment manager at Partners in Performance. Partners in Performance is a global management consulting firm and we were interested to learn more about the firm and its recruitment process. Please read the edited transcript of our discussion with Amanda below. This will be of particular […]
(Source: Flickr) IN this post we consider some consulting interview basics: what to expect, what to wear, and what to bring. 1. What to Expect Consultants are the public face of a consulting firm, and firms need to be able to trust consultants to interact with senior clients including CEOs and executive board members. As a result, […]
(Source: Flickr) ARE you preparing for consulting interviews? In this post we provide 10 tips for nailing the case interview, written in stone. 1. Practice, practice, practice When it comes to the case interview, preparation is crucial for three reasons: The interview process is extremely competitive. You are unlikely to succeed without a lot of practice; […]
(Source: Flickr) In this post we look at the stress interview. If you’re interviewing for consulting positions, then you may be subjected to one. The aim of the stress interview is to put you under pressure in order to see how you will react and whether you can calmly defend yourself. Your interviewers might do this in […]
IN this post we look at the structure of the consulting interview. Firms will normally conduct two or three interview rounds, and each round will consist of two or more interviews back-to-back. The case question is the cornerstone of the consulting interview, and some firms will employ a fixed structure for the case question, asking each […]
ARE you an aspiring management consultant? If so, then you’re in luck. Over the coming months we will be posting about the consulting interview. In this post we look at the purpose of the consulting interview. The purpose of the consulting interview is twofold. Firstly, it is a test of client readiness. Management consultants are hired by senior executives […]