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I have a month for McKinsey and BCG preparation. Is this enough? I have cased before.

Boston Consulting Group consulting McKinsey
New answer on Sep 12, 2020
9 Answers
2.5 k Views
Anonymous A asked on Sep 04, 2020

I have a month for my BCG and McKinsey interviews. I have prepared in the past during the internship cycle but did not get invited then.

I got invited this time and I have a month for these interviews. What is the best way to spend my time? Is it tpp less in terms of time?

I have done 30 cases in the past (the internship cycle was in January) but feel rusty especially on quant.

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Vlad
Expert
replied on Sep 05, 2020
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School

Hi,

It really depends on your availability and if you can dedicate at least a couple of hours per day.

I recommend the following approach:

1) Start with "Case in point" book - you can download this book for free everywhere. It's not the best guide on how you should approach the cases, however, it will give you the basic understanding.

2) Start practicing cases with partners here or find them locally. !!! Find experienced partners or coaches who can provide a good feedback!!!

3) Purchase and read Viktor Cheng Book (Amazon Kindle store) and listen to LOMS (his website). I recommend to reread the book and listen to LOMS every 15 cases. Every time, having more experience, you’ll be finding something new.

4) Practice fast math

  • Learn how to multiply double digit numbers (https://www.youtube.com/watch?v=6ndkkPZYJHo)
  • Learn the division table up to 1/11 (i.e. 5/6 = 83.3)
  • Learn how to work with zeros (Hint: 4000000 = 4*10ˆ6)
  • Use math tools (Mimir math for iOS), Math tool on Viktor Cheng website to practice

5) Below you can find a list of the most common case types and some high-level recommendations on structuring:

  • Market sizing - structuring from the supply or demand side. Structuring using a formula or using an issue tree
  • Profitability - basic profitability framework. Remember about different revenue streams and product mix
  • Market context cases (Market Entry, New product, Acquisition, etc). Always start with the big picture "market". Finish with something specific to the case (e.g. How to enter?"). Structure it as if you are defining the work streams for the real project.
  • Operational math problem (e.g. Should we increase the speed of an elevator or just buy a second one? How should we reduce the queues? Etc.) - Structuring as a process / value chain, with inflows, operations, and outflows
  • Cost cutting - I provided the recommendations on structuring it here: https://www.preplounge.com/en/consulting-forum/operations-cases-mck-1105#a2134
  • Valuation - Purely financial structure with cash flows, growth rate, WACC / hurdle rate, etc.
  • Synergies - revenue synergies (price, qty, mix) and cost synergies (value chain).
  • Social / economics cases (e.g. How to improve the quality of life in the city? How to increase the revenues of the museum?) - huge variability. Practice 3-5 social cases before the interview

6) Also, I would try to focus on the most common industries in the following priority(sorted by probability of getting a case): 1-retail and CPG; 2-airlines; 3-Telecom; 4-banking; 5-natural resources; 6-tech

7) ! Important: don't forget about the FIT interview part. Crafting you stories and backups stories will require a couple of weeks!

PS

Here is a good list of articles regarding the different parts of the case:

1) Start with clarifying questions:

https://www.preplounge.com/en/consulting-forum/clarifying-questions-1786#a3956

2) Communicating while structuring. Here is a long post by me on how to communicate the structure during the case study:

https://www.preplounge.com/en/consulting-forum/how-to-communicate-its-structure-for-the-case-study-1313#a2806

3) Using hypotheses. I made a post about hypothesis here:

https://www.preplounge.com/en/consulting-forum/how-to-state-a-hypothesis-and-match-to-the-structure-1156#a2268

4) Communicating while making calculations:

  • Always tell the interviewer your approach
  • Check with the interviewer that your approach is correct
  • Come to the interviewer with some preliminary answers
  • Check your assumptions with the interviewer

5) Communicating during the analysis of graphs / tables

  • Take a minute to look at the graph. Read the graph title. Look at the graph type and define the type (pie chart, line chart, etc). Look at the legend (ask for clarifying questions if necessary). Identify whats going on on the graph. Look for: Trends, % structures. Look for unusual things - correlations, outliers,
  • Make 3-4 conclusions from the graph. Think out loud on potential hypothesis on what could be the root cause / what are the consequences
  • Prioritize the most important for your current analysis and move forward with the case

6) Communicating while having questions on creativity

  • Ask an interview for a minute to think
  • Think of several buckets of ideas (e.g. organic growth / non-organic growth / differentiation). Remember to think as big as possible
  • Narrow down to each bucket and generate as many ideas as possible
  • Present the structure (buckets) and then your ideas

7) Communicating your conclusion. You can find a good example I've posted here:

https://www.preplounge.com/en/consulting-forum/how-much-answer-first-should-the-conclusion-be-1231#a2493

8) Communicating your FIT stories

Use the top-down approach while communicating your stories. "The Pyramid Principle" is the must-read by ex McKinsey on this topic.

I recommend using the STAR framework:

  • In Situation, you should briefly provide the context, usually in 1 or 2 sentences
  • Task usually includes 2 or 3 sentences describing the problem and your objective.
  • Then you provide a list of specific actions you took to achieve the goal. It should take 1 or 2 sentences per action (Usually 3-4 actions). Note that the interviewer can stop you any minute and ask for more details.
  • The results part should have 1 or 2 sentences describing the outcomes. This part is finalizing your story - make sure it can impress the interviewer and stay in the memory.

Best!

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Francesco
Expert
Content Creator
replied on Sep 05, 2020
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching

Hi there,

One month may or may not be enough. It depends on the following:

  • Your current level
  • How much time you have to dedicate per day
  • How you will use the time

I would recommend the following steps to prepare:

  1. Define a calendar for your preparation. Identify how many hours you have available before your interview and allocate a time slot for preparation in your calendar for each day, working on the points below. Many people need 100+ hours to be ready before a consulting interview so you can keep that as a benchmark
  2. Read Case In Point or Case Interview Secrets for a general understanding of what a consulting interview is. Don’t focus on the structures proposed in the books though, as they are not good enough nowadays.
  3. Start reading good MBA Consulting Handbooks – you can find several for free online (Insead is a good one to start). Read the cases and try to apply your structure to solve them. Whenever you see there is something missing, upgrade your structure with the new insides. Try to read at least a new case per day – in this way you will absorb better the information with constant learning.
  4. After the first 5-10 cases in books/handbooks and basic theory, start to practice live. PrepLounge can be helpful to connect with other candidates for that. There is a relevant part of the interview score that is based on your communication, which you cannot practice at all if you read cases only. Keep track of your mistakes and see if you repeat them. If so, try to identify the source of the mistake (feedback of experienced partners would be particularly useful for this). Be sure to focus on both the behavioural part and the case part. The case part should also cover market sizing, mental math and graph analysis.
  5. Once you feel you are not improving anymore, if you have a tight time constraint or if you want a realistic assessment of your level, consider using support from experts to strengthen your performance
  6. Before the interviews, be sure to prepare your questions for the interviewer –great way to show you prepared in advance and to connect with the interviewer for a good final impression.

If you want to spend few hours only instead of 100+ and cover everything mentioned above, I developed a program to precisely do that. You can click at the following link to find more:

https://u.preplounge.com/63phuq

After this program, you will know exactly what to expect in your interview, what to work on, and how to focus on the real differentiator to land a top consulting offer.

Please feel free to PM me if you need more information.

Best,

Francesco

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Ian
Expert
Content Creator
replied on Sep 04, 2020
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate

Hi there,

It's tight, but I recommend the following:

1) An initial planning session with a coach: 1 hour with a coach now will have a productivity multiplier effect on all your efforts moving forward. They will figure out what materials are best for you, guide you towards the best ways to learn, and come up with a preparation plan with you.

2) Leverage free resources first: PrepLounge Q&A and case library, Poets and Quants, SpencerTom, Google, etc.). Leverage these options, read-up, and build that casingknowledge

Importantly, read The Economist, the Financial Times, McKinsey Insights, and BCG Insights daily to build up your business knowledge.

3) Case with other PrepLoungers: Casing with other PrepLoungers is free. Not only do you get to practice casing, but you get direct feedback. Additionally, you learn a lot just from casing others. Finally, from other PrepLoungers you'll learn which materials/coaches are helpful.

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Anonymous replied on Sep 06, 2020

Dear A,

In my time I have practiced around 150 cases. So the more the better.

In order to use this time in a more efficient way, I would recommend you to less practice by yourself, and more practice with peers or an experienced coach to get structured feedback.

if you need any further help or advice, feel free to reach out.

Best,

André

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5
Robert
Expert
Content Creator
replied on Sep 06, 2020
McKinsey offers w/o final round interviews - 100% risk-free - 10+ years MBB coaching experience - Multiple book author

Hi Anonymous,

I am sorry but nobody can seriously answer for you if 1 month is enough - it's depending on so many variables which only you know in detail (current performance level, slope of your learning curve, business background and insights, ...).

How to best prepare, there are lots of threads already - maybe reasonable to check them first and come back with more specific questions afterwards.

Since you address McKinsey, also don't forget to prepare for your McKinsey PEI (Personal Experience Interview). It's the most underestimated part of the McKinsey recruiting process - both in terms of time required and complexity to get it right. PrepLounge recently published a specific guide on that. It's essentially an excerpt from my Ultimate McKinsey PEI Prep ebook, which you can find directly here on PrepLounge: https://www.preplounge.com/en/shop/tests-2/the-secret-mckinsey-pei-cheat-sheet-42.

Hope that helps - if so, please be so kind to give it a thumbs-up with the green upvote button below!

Robert

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Antonello
Expert
Content Creator
replied on Sep 10, 2020
McKinsey | NASA | top 10 FT MBA professor for consulting interviews | 6+ years of coaching

Hi, 1 month if you can be fully dedicated to it is more than enough. Feel free to text me for additional tips on how to set up a preparation plan

Best,
Antonello

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Anonymous replied on Sep 12, 2020

Yes, one month should be enough. even if you have a regular job. You have done ~30 cases before, so you know the basics. You should focus on honing your skills in a few sessions with an experienced interviewer and work on their feedback very strategically. Don't spend a lot of time preparing with inexperienced interviewers, as they will not be able to give you the detailed and practical feedback you need at this point.

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Udayan
Expert
Content Creator
replied on Sep 12, 2020
Top rated Case & PEI coach/Multiple real offers/McKinsey EM in New York /12 years recruiting experience

Judging by all of what you said, a month should be enough. What matters more is how you use the month to prepare and whether you are able to leverage all resources available to you in order to become a stronger candidate.

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Luca
Expert
Content Creator
replied on Sep 07, 2020
BCG |NASA | SDA Bocconi & Cattolica partner | GMAT expert 780/800 score | 200+ students coached

Hello,

Yes, it could be enough if you have already studied for business cases before. In order to prepare for case interview, I suggest the following approach:

  • Read the Case in Point (Cosentino) in order to get a first approach with the Case interviews
  • When you have read most of it, start doing cases on yourself practicing with frameworks, math and structure of the interview.
  • Practice with other people (candidates/coaches)
  • Read some chapters of the Case Interview Secrets
  • Listen to the recordings of the LOMS program

While you are practicing for your cases, you have to consider also some time to prepare your Fit Interview that is a fundamental part of the process. Consider that you will need at least 40/50 cases made with other people.

Feel free to contact me if you want to have some help to stucture your workplan.

Best,

Luca

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