The Consulting-Interview - Case Interview Dos and Donts
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The document provides an overview of the consulting interview process, which typically includes four parts: introduction, personal fit interview, case interview, and a question and answer session. It discusses how to prepare for each part of the interview and what interviewers are evaluating. The case interview is aimed at assessing analytical and problem-solving skills, and often involves structuring business problems or quantitative brainteasers. Interviewees should focus on clearly outlining their thought process and assumptions. Personal fit questions focus on work experience and determining if the candidate's skills and personality are a good match for the firm.
The Consulting-Interview - Case Interview Dos and Donts
- 1. The Consulting Interview Stefan Menden www.squeaker.net
- 2. Agenda Introduction The Consulting Interview Introduction Personal fit Case Interview Questions Summary and Q&A
- 3. About squeaker.net Online-Career Networks Insider-Dossier Guidebooks squeaker.net consulting-insider.com finance-insider.com Nicube.com Consulting-Interview Finance-Interview Automotive Accounting Consumergoods Law-Firms Brainteaser Psychometric tests Scholarships Consulting-Cases
- 4. Agenda Introduction The Consulting Interview Introduction Personal fit Case Interview Questions Summary and Q&A
- 8. Agenda Introduction The Consulting Interview Introduction Personal fit Case Interview Questions Summary and Q&A
- 9. The consulting interview (Analytical skills test) Introduction Personal fit interview Case Interview Questions (Presentation, Group assignment) The consulting reality Complex problems Demanding hours Changing priorities Teamwork / new teams High impact ... The interviewer‘s checklist Does the candidate have: Drive, motivation Flexibility Analytical ability Quantitative skills Communicative & leadership skills Maturity Will the candidate enjoy consulting? Do I want to work with this person? Why consulting firms use case interviews
- 10. The components of the consulting interview Introduction / small talk Personal fit / experience Case Interview Questions 1 2 3 4 3-5 mins 5-15 mins 30-45 mins 3-5 mins
- 11. Part one: Introduction Do’s Listen attentively, keep eye-contact Ask questions, join in conversation SMILE Don’ts Don‘t take over the lead Don‘t pretend Don‘t think that this is not already part of the interview Clarify process Reduce nervousness Get first feeling for candidate‘s social skills Get to know the interviewer Explain the process Small talk
- 12. Part two: Personal fit / experience interview Do’s Present your previous experience in a cohesive way Add interesting details and personal experiences Be prepared to answer questions about your CV Don’ts Don‘t just repeat what‘s on paper Don‘t be arrogant Don‘t be too nervous Does the candidate fit into our team and culture? Do I want to work with this person / spend long hours in the same room? Can the candidate represent our firm in front of clients? Discuss your CV and personal achievements Understand your motivations and communication style Why do you want to become a consultant? Why with our firm?
- 13. Personal fit: Typical questions „ Talk about yourself“ „ What are your strong points?“ „ What are your weak points?“ „ Why did you choose your particular subjects in university?“ „ What was your greatest challenge?“ How did you overcome it?“ „ Why do you want to go into consulting?“ „ When did you lead a team?“ „ Your grades are not outstanding, don‘t you think?“
- 14. Personal fit exercise: Skill assessment Take a piece of paper and draw a 5x3 table like this: 1) 1st column: What do you think are the 5 most important skills a consultant needs 2) 2nd column: Score yourself against these skills (Points 1-10) 3) 3rd column: How can you prove this from your CV?
- 15. Personal fit exercise 2: SWOT introspection S trengths W eaknesses O pportunities T hreats
- 16. Part three: The Case Interview Mini Case Business Case Market-Sizing Brainteaser The Case Interview Typical types of questions
- 17. Business Cases Often based on real cases Often a part of a more complex problem No one-size-fits-all solutions Often include a strategic and a quantitative part Examples Market entry Product innovation Competitive Response Reaction to changing market conditions M&A activities …
- 18. Example case „ Your customer is a European low-cost-airline. The CEO asks you to prepare a recommendation for the board meeting this afternoon if the company should offer transatlantic routes as well.“
- 19. How to solve the case Hypothesize & ask questions Structure the case Solve the case Present and evaluate 1 2 3 4
- 20. Frameworks to structure business cases Profit equation Michael Porter‘s Five Forces 4 P‘s: Price, Product, Place & Promotion SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats) 2x2-Matrix Break-Even-Calculation 4 C‘s: Customer, Competition, Cost, Capabilities … Use frameworks to structure problems – not as a one-size-fits-all solution to problems
- 21. Structuring problems: The pyramid principle
- 22. The most important framework The profit equation
- 23. 2x2 Matrix high high low low
- 24. How to tackle the case interview Do’s Take notes Ask for missing information Lead the conversation Listen for details Take your time Structure, structure, structure Involve the interviewer in your thinking Clearly state your assumptions Sum up your conclusions
- 25. How to tackle the case interview Do’s Don‘t „copy-paste“ your solution / framework think! Practice mental arithmetic and written calculations without calculator Sanity-check your conclusions and assumptions Be well prepared and up-to-date on current economic events Let your hypothesis guide you Practice cases by inventing your own Relax, keep cool and have fun!
- 26. How to tackle the case interview Don’ts Don‘t be too spontaneous Don‘t guess Don‘t go into unimportant details – be 80/20 Don‘t be arrogant Don‘t come late Don‘t lose your calm and maturity – imagine you are presenting to your client
- 27. Market sizing Test ability to structure a concrete problem Test quantitative abilities Test mental arithmetic skills and written calculation without calculator Test ability to handle large numbers accurately Often part of a business case Examples Market size / potential of a product or service for a country, region, city „ What is the market size for car stereos in Germany?“ Calculation of the market share of a company „ What is the market share of Volkswagen in Germany?“ Quantitative exercises „ How many tennis balls fit into a Boeing 737?“
- 28. Brainteaser Ability to structure an abstract problem Ability to elaborate and present a solution in a coherent way Tenacity Ability to tackle a seemingly unsolvable problem Quantitative skills Creativity Examples „ How many seconds from now until New Year’s Eve?“ „ You are on a boat on a lake and raise the anchor – will the water level rise or fall?“ „ Why are manhole covers round?“ Weighing balls Measuring the angle between hands on a clock
- 29. Questions Do’s Prepare a few questions, that are not too obvious are related to your background are about experiences of the interviewer Don’ts Don‘t have no further questions Don‘t ask „stupid“ questions Are you really interested in consulting and this firm in particular? Do you have the right communicative skills? „ Do you have any further questions?“
- 30. Agenda Introduction The Consulting Interview Introduction Personal fit Case Interview Questions Summary and Q&A
- 31. Insider-Dossier Books: Recommended reading Shop: www.squeaker.net/insider
- 32. Stay in touch! www.facebook.com/squeaker - twitter.com/squeakernet twitter.com/nicube