Securing a consulting position involves passing through a rigorous process that goes far beyond a mere evaluation of your technical expertise. Consulting firms are keen to identify candidates who not only possess the required knowledge, but also exhibit specific skills that are crucial for success in the industry. In this article, we’ll delve into the […]
Tag: consulting interviews
Job interviews can be nerve-wracking, but with proper preparation, you can significantly increase your chances of success. Whether you’re a fresh graduate or an experienced professional, thorough interview preparation is key to showcasing your skills, qualifications, and personality. In this blog post, we’ll discuss five essential steps that you can take to help you prepare […]
Frameworks. Experiential Questions. Case Studies. Presentations. Questions. Resumes. There is a lot to think about when preparing for consulting interviews, and you may want to check out some of our other blog posts and guides for preparing your resume, creating your cover letter, and improving your network. This post will focus on the main similarities […]
Let’s admit it. At every single consulting interview the very first question you get is “why consulting?”. It’s also one of the most popular questions at networking events. There could be a variety of reasons you would like to truthfully shout out such as: high salary, prestige, MBA sponsorship, and travel. But hold your seatbelt […]
When it comes to consulting interviews, most people are fixated on the case interview. Which makes sense, given the amount of practice that’s required to ace the case. But, as an aspiring consultant, don’t forget that you will also face the Fit Interview! Fit Interviews can be very tricky because they require you to talk […]
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A Career In Management Consulting
Consulting is an appealing career choice for many graduates. Consultants have the potential to travel with work, network with Fortune 500 executives, earn six figure salaries, develop high-level transferable business skills, and benefit from lucrative exit opportunities. What’s not to like? Well, for all its benefits, the life of a consultant is not necessarily a bed of […]
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How To Deal With Rejection
If you have gone through the consulting interview process and are not offered a position with your target firm, then you should find out why. There are two reasons this is important. Firstly, getting specific feedback on your performance is the only way you can learn and improve. Secondly, you may discover that the firm has […]
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Negotiating An Offer Of Employment
If you have received an offer of employment from the consulting firm of your choice, you may still want to negotiate the terms of the offer. How should you go about doing this? Use your bargaining power Your ability to negotiate the terms of your offer depends on how much bargaining power you have. The consulting […]
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Accepting An Offer Of Employment
If you are offered a position with a consulting firm (and are happy with the terms of the offer) then feel free to accept it. You can talk to the recruitment management to let them know your decision, and you will also need to sign, date, and return a copy of the offer letter. Be sure to […]
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After The Interview
(Source: Flickr) We have talked at length all year about consulting interviews, and in this post we provide three (3) thoughts on what to do after the interview comes to an end. Confirming the next step: To find out about the next step in the recruitment process, talk to the recruitment manager (this will probably be someone other […]
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Practice Case Questions
(Source: Flickr) If you want to practice case questions, I highly recommend Marc Cosentino’s book Case in Point. You can also access sample case questions from various consulting clubs here, and from the following consulting firm websites: McKinsey & Company; Bain & Company; Oliver Wyman; Deloitte; A.T. Kearney; Accenture; and L.E.K. Consulting. [For more information on consulting […]
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Product Market Expansion Matrix
The product-market expansion matrix may prove useful in the consulting case interview and is relevant when considering growth strategies. It might be used on a standalone basis or as part of a larger profitability framework. There are four ways that a company can pursue growth: Market penetration: A strategy to increase sales to existing customers […]
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Outsourcing Matrix
The outsourcing matrix may prove useful in the consulting case interview, either as a standalone framework or as part of a larger profitability framework. With the view to reducing costs, there are three questions that a firm would do well to consider: How long will it take to reduce major cost drivers? Are the activities strategically […]
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McKinsey 7 S Model
While you may not directly use the 7 S Model in the consulting case interview, it will give you a deeper understanding of how to examine the inner workings of an organisation, identify strengths and sources of competitive advantage, as well as weaknesses and reasons why an organisation may not be operating effectively. The 7 […]
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BCG Growth/Share Matrix
While it may not be a core framework for solving consulting case questions, the BCG Growth Share Matrix can help to broaden your understanding of how a company might want to allocate cash between products and business units. The framework is based on the idea that the amount of cash a product uses is proportional […]
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Value Chain Analysis
Value Chain Analysis is another tool that may prove useful during the consulting case interview. It can be used to analyse the cost structure of a company as part of a declining profitability case, or to analyse the supply chain as part of an operations case. To understand which activities provide a company with a competitive […]
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Four P’s Analysis
Four P’s Analysis is a framework that may prove useful for solving consulting case questions. It can be used to evaluate the marketing strategy for a product. 1. Price The pricing strategy that a company employs will affect its market share and profitability. There are three key pricing strategies to consider. Competitive pricing: How do prices compare with […]
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Porter’s Five Forces
The Porter’s Five Forces framework is used to determine the competitive intensity and attractiveness of an industry, and is relevant in the context of entering a new market, M&A, or starting a new business. The intensity of competition will depend on the strength of the five competitive forces, however the significance of the forces will vary by […]
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Three C’s Framework
The 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 […]
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Profitability Framework
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 […]
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Case Math
(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 […]
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Sample Consulting Case Questions
(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 […]
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Concluding A Consulting Case Question
(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 […]
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Tackling A Consulting Case Question
(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 […]
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Setting Up A Case Question
(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 […]
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Playing For Time In The Case Interview
(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 […]
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Factors Questions
(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 […]
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Answers to Sample Brainteasers
(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 […]
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Brainteasers
(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 […]
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Math Questions
(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 […]
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Sample Guesstimate Questions
(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 […]
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Approaching the Guesstimate Question
(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 […]
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Guesstimate Questions
(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 […]
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Behavioural Interview Questions
(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 […]
(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 […]
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Have you ever failed at anything?
(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 […]
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Why Consulting?
(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 […]
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Consulting Interview Question Types
(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“.]
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Researching Consulting Firms
(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 […]
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Consulting Interview Expectations
(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, […]
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10 Tips For Nailing the Case Interview
(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; […]
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Stress Interviews
(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 […]
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Consulting Interview Structure
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 […]
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Purpose of the Consulting Interview
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 […]