What's the interview process like for boutique consulting firms?

Hi there,

I suggest you reaching out to the HR directly to ask for details. It really varies from boutique firm to boutique firm.

It's completely normal to feel a bit unsure about what comes next, especially with boutique firms that tend to have more bespoke processes than the larger players. You're at an interesting point where the initial screening hurdles are cleared, and you're moving towards the core consulting assessment.

Here's the reality: boutique firms, particularly those specialized in TMT or PE, often use that take-home assessment as their primary "case study" evaluation. It allows them to see your analytical rigor, structuring, and communication skills in a realistic, unpressured setting. This means your upcoming "presentation interview" will very likely be a deep dive into your take-home work. They'll want you to walk them through your methodology, defend your assumptions, and elaborate on your recommendations. Expect pointed questions, pushback on your logic, and potential "what if" scenarios built directly on your submission.

For a PE consulting role, this format makes a lot of sense, as it mirrors the kind of commercial diligence work you'd actually be doing. While a traditional live, on-the-spot case might not be the primary focus anymore, you should still be prepared for some quick, follow-up mini-cases or market sizing questions if time permits, or if they want to test your agility further. Beyond that, expect standard behavioral and fit questions to assess how you'd integrate into their team and client engagements.

Good luck with the next round!

You've already made it through the first few steps, and that's a good thing. The HR call and aptitude test are just there to filter people out early. The take home case is where they actually start looking at how you think. Now the harder rounds are coming.

Here is what you should expect from here.

The Presentation Interview

• You'll present your take home case, but the real test starts after your slides end
• They'll push back on your assumptions and throw curveball questions
• Most people prepare a great deck but fall apart when challenged
• Know your numbers cold. If you assumed 7% growth, be ready to explain why not 4% or 12%
• Treat it like a conversation, not a presentation

Will There Be a Live Case?

• For the PE consulting role, yes, expect a live case or case style discussion
• It won't look like a classic McKinsey case. Boutique firms keep it shorter and more commercial
• Something like "a PE fund wants to buy a mid size telecom company, what would you look at?"
• Some firms blend it into your presentation. They'll extend your take home case with a new twist on the spot. Be ready for that

Additional Rounds

• Expect 2 to 3 live rounds total after screening
• At least one more round after the presentation, usually with a senior partner
• This round is more behavioral. They want to know if you're easy to work with on intense deal sprints
• For TMT firms, have a point of view on what's happening in telecom, media, or tech. Read up on recent TMT deals

One Thing People Miss

• At boutique firms, every single interviewer's opinion matters a lot. There's no big committee averaging scores like at MBB
• If the partner in your final round doesn't feel it, that's probably a no
• Bring energy and genuine curiosity to every round, even the informal ones

You're in a solid position. Now it's about thinking clearly under pressure and being someone they'd want on their team.

Feel free to reach out if you want help prepping for the presentation or the live case. Those two rounds are where it's really decided.

Hey, I can tell you from Altman Solon (boutique TMT firm, ~50% strategy projects and ~50% due diligence for PE). The interview process is quite similar to MBB; however, cases are usually industry-focused (TMT in this case), although that’s not a strict rule.

Since you’ve already completed HR, aptitude test, and take-home, the live stage typically includes:

What to expect in live interviews

1️⃣ Presentation + deep dive

• You present your take-home
• Heavy Q&A and pressure-testing
• Interviewers challenge assumptions, numbers, and logic
• Expect follow-up “what if” scenarios

For PE-focused roles, this often feels more like an investment committee discussion than a classic consulting case.

2️⃣ Live case (very likely)
Even if you had a take-home, you should expect:

• A traditional live case
• Often more CDD-style (market attractiveness, revenue sustainability, risks)
• Strong emphasis on quant and commercial thinking

Some boutiques combine presentation + live mini-case in one session. Others add an additional round.

How to prepare

What’s crucial:

• Understand what the boutique specializes in
• Research their typical projects (LinkedIn is extremely helpful — consultants often describe the type of work they do)
• If they focus on due diligence, prepare CDD-style cases, not generic product launch frameworks

In PE-oriented boutiques, they test:

• Structured thinking
• Speed with numbers
• Investment logic
• Clear recommendation under uncertainty

Bottom line: expect something close to MBB standards, but more industry-specific and more commercially sharp.

As a coach, I’m here to help you — we can simulate TMT / PE-style live cases, prepare you for presentation pushback, and ensure you perform at the level boutique firms expect.

Always ask the recruiter directly. 

By and large, with most firms, you have two rounds each of two interviews, and within each interview, you have a personal fit component and a case component. 

But in practice, there are countless variations to this format which differ between firms, offices and roles. 

The only person who can tell you for sure what the process is going to be like in your case is the actual recruiter.

Best,
Cristian