Consulting firms depend vigorously on case interviews to seek the correct candidate and, consequently, you should rehearse them – rehearse them well, start practising them early (2-3 months before the meeting), and after that continue to rehearse them regularly. When you have been appointed for an interview it won’t be simply to talk about your GPA, foundation, or experience – that is vital but later.
We concentrate on 6 sorts of case interviews. You could perceive any of these 6 variations (and likely different ones) of a case interview in your final round, so it’s imperative to be comfortable with every single one of these (see test case inquiries questions).
Brainteasers are most generally rationale riddles or puzzles. They are intended to test both your explanatory and inventive thinking process.
Here are some specimen brainteaser questions:
- What number of golf balls can fit in a football stadium?
- What number of miles of street are there in the United States?
In their purest frame, brainteasers are uncommon in management consulting interviews, however, we incorporate them for 2 reasons. One, it’s great to be set up for them on the off chance that you have a questioner who chooses to toss them in. Two, you address them a similar way you address a market sizing question (see underneath) – by separating the arrangement into segment parts.
2. Consulting Math
Consulting is an information-based industry – yet where there are no realities, there are all well-developed estimates. In normal math drills, you won’t have the relaxation of having a calculator. These drills are ordinarily elementary math yet be set up for portions and rates.
Once more, these are not ordinarily stand-alone case interview for MBB (in spite of the fact that they can be in a time-pressured partner), yet they are incredible practice for Problem Solving Tests (PST’s) and as parts for longer strategic case interviews. Here’s a specimen question:
Around 225 of Smith’s Investments about 20,000 workers have the title of partners. What proportion of all Smith’s Investments workers are partners?
The market for lead pencils has been declining at 4%/year throughout the previous 3 years. The first market was $24M/year. What is the market in year 3 (now)?
Not at all like science math, consulting math just anticipates high probability answers. In science or technology, a tiny margin of error can lead to major accidents. However, in business, choices can be adequately and proficiently made in view of close immaculate information/counts.
For Problem Solving Tests, various inquiries like these are asked with a period restrain – either in talked frame or in written form, and more often than not with under 2 minutes to answer each inquiry. In written form, they are multiple choice questions. Ensure you know real cash trade rates of the workplace you are needing to join.
GMAT and GRE tests are astounding practice for consulting math.
3. Market Sizing
Market sizing questions are genuinely clear and ought to be understood in 8-10 minutes and 4-5 stages with 1 level of segmentation. You are measuring the current market of a thing in all-out units or aggregate deals ($) – it’s imperative to clear up in advance which one it is. Sample market sizing questions include:
What number of burgers are expended in the U.S. in one year?
What is the measure of the U.K. advertise ($) for helium balloons?
For market sizing, you are utilizing the span of the market as the benchmark to answer strategic inquiries like:
What number of X exist in the market?
How quick is the market for X developing?
What is the $$ opportunity if a customer brings X into the market?
In most market sizing cases, the questioner has no idea of the correct arrangement – nor does she give it a second thought. The accentuation is more on how you landed at your decision (did you go thinking about something else? might you be able to safeguard your presumptions?) instead of the conclusion itself.
Additionally, for showcase measuring questions, be prepared for modifications toward the finish of the case – “Imagine a scenario in which the % of the population utilized was this. What is your most sensitive presumption?” Because you are setting up a spreadsheet (a smaller than normal monetary model) on the fly, be prepared to alter your data sources – simply like you would on a genuine consulting venture.
Profitability is a definitive business metric, and profitability cases can address a business in any industry. This case sort names an organization and gives some point to point history and truthful information, and offers one of three questions:
What should Company X do about incomes (prices x volumes)?
What should Company Y do about costs (fixed expenses + variable expenses)?
What should Company Z do about overall profit (counting the two sides of the benefit condition utilizing measurements, for example, benefit/unit or benefit/channel)?
In our perspective, there are 4 sorts of profitability questions:
Profitability – income centred
Profitability – cost-centred
Profitability – scenarios
In the primary sort, profitability inquiries can cover why an organization may lose profit or what an organization ought to do to enhance profit innovatively. Your activity is to prepare a system to enable them to discover the wellspring of the issue. The system ought to be at 2 levels, and past incomes and costs, it could feature a potential inward organization or item issue, rivalry or a worldwide market issue, and so on.
Income or cost-centred benefit questions aren’t really suggested as benefit conversation starters (the word profitability isn’t utilized as a part of the set-up). For instance, maybe a company is integrating a new software infrastructure and they need to know whether it’s a “smart thought”. The attention is on evaluating the advantages of new business infrastructure solutions – benefits that translate to increased sales or reduced costs
Additionally, income and cost inquiries might be centred around non-monetary decision making – for instance, “X is choosing whether or not to keep running for office. Should they or shouldn’t they?” Meaning, they are not alluding to money related results, but rather are as yet quantifiable – your activity is to consider the issue with a 360-degree view and build up a very much organized expert and con list.
In conclusion, you may experience a measuring situation question. You would be given 2 choices and should measure the profitability of one against the other. A case of this may analyze the utilization of the U.S. Mail station for mailing needs versus UPS. Or, then again perhaps the organization is attempting 2 distinct sorts of bundling for an item; one is 3 oz. what’s more, the other is 8 oz. Which bundling would you prescribe and why?
5. Market Study
Market contemplate questions come in 3 frames:
- Market Entry
- Revenue Growth
- Market share
The principal sort, advertise passage, addresses a situation where an organization is keen on entering another market. You are truly noting another inquiry – what amount of cash will they make, will they be profitable entering that market, or in what manner would it be a good idea for them to enter that market?
In the second situation, an organization is endeavouring to become their revenues. Your employment is conceptualizing how they could get this objective. In the event that you take a gander at it from the perspective of profitability, would it be by expanding costs or volumes (showcase study would be the second level of examination)? In the event that you take a gander at it through the market consider focal point, you take a gander at showcase factors (contenders, clients, supply/request, and so forth.) that would influence development designs – and profitability would be the second level of examination. In either case, your activity is to recognize any notice signs that may obstruct this organization from accomplishing this objective.
The last sort of market examines question would address an organization declining in a piece of the overall industry. In this situation, you have to concentrate on general organization development and how it has been influenced by contenders and client misfortune. You are searching for an approach to develop in setting to the ebb and flow advertise rivalry.
6. Merger & Acquisition Cases
M&A cases are the mac-daddy of all consulting cases since they incorporate market estimating, profitability, and market contemplate cases – with a decent amount of case math tossed in. The cases will either be about whether Company An ought to converge with Company B or if Company Y should buy Company Z.
Points of interest of what kind of product or service will be incorporated and a restricted measure of genuine information identifying with both the buying and the objective business. When asking 1-3 clearing up questions, concentrate 80% on the objective and just 20% on the parent/acquirer.
There are 2 sorts of Merger and Acquisition buyers – financial and strategic acquirers. Understanding the motivations of both will enable you to distinguish how best to assess the objective. Keep in mind, be that as it may, the objective for the two sorts of acquirers is… as usual…increased profitability.