Mckinsey Preparation Material (Math, Economics and Accounting)

Question

Not very confident on math and economic/accounting knowledge. Are there some training books especially designed for Mckinsey. Heard of Mckinsey way, Mckinsey method....look for recommendations. Coincidently heard of 72% princeple. How can I be sure that I will not miss the major Mck math skills/models? For sure, I don't need to do PST. However, the skills might be needed in cases...

Thank you for advices in advance! Look forward to hearing former Mck successful experiences!!!

Answer 1

Hi,

Something that helped my candidates - download ALL casebooks available online and go through the math problems in the cases. They will give a good sense of required business terminology. Then you can google what you don't know.

P.S. don't follow the books solutions to solving the cases since they are not that good. Just practice the math problems

Here is a set of things you need to know:

1) Math and formulas:

Interest rates calculations
Compound margin
NPV using the Rule of 72, Perpetuity
CAGR using the Rule of 72
Currencies exchange calculations
Speed, time, distance calculations
Equations, systems of equations
Ratio & Proportions
Little's Law
Solving the problems by calculating the area of the triangle
Profit / breakeven formula
Correlations, outliers (being able to spot on the graphs, tables)

2) Fast math skills

Rounding up and down
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 using powers (e.g.: 4000000 = 4*10ˆ6)

Use math tools (Mimir math for iOS), Math tool on Viktor Cheng website to practice

3) Working with tables and graphs and deriving conclusions

Study "Say it with Charts" book
Check all available MBB presentations and publications. Practice to derive conclusions and check yourself with the actual ones from the article / presentation
GMAT IR part (Official guide and Manhattan prep)
Learn basic statistics (Any GMAT or MBA prep guides)

Good luck!

Best

Answer 2

Dear A!

For practicing and improving your mental math you can also find some apps and tools, besides Victor Cheng’s math tool (Magoosh's mental maths app, Mental math cards challenge app, etc)
To practice your quantitative skills I would recommend different math, logic, and verbal tests on https://trytalentq.com/how-to-prepare/# and then select "Elements Practice Test".You don´t need to learn them by heart, rather skipping through to get a first impression and a better understanding
I'd also advise you purchase to the McKinsey case book, which can help you better understand the whole interview mechanics and what happens behind the stage.

If you have further questions about your preparation, just drop me a line!

Best,

André

Answer 3

Hello!

Precisely for the high amount of questions (1) asked by my coachees and students and (2) present in this Q&A, I created the “Economic and Financial concepts for MBB interviews”, recently published in PrepLounge’s shop (https://www.preplounge.com/en/shop/prep-guide/economic_and_financial_concepts_for_mbb_interviews).

After +5 years of candidate coaching and university teaching, and after having seen hundreds of cases, I realized that the economic-related knowledge needed to master case interviews is not much, and not complex. However, you need to know where to focus! Hence, I created the guide that I wish I could have had, summarizing the most important economic and financial concepts needed to solve consulting cases, combining key concepts theorical reviews and a hands-on methodology with examples and ad-hoc practice cases.

It focuses on 4 core topics, divided in chapters (each of them ranked in scale of importance, to help you maximize your time in short preparations):

· Economic concepts: Profitability equation, Break even, Valuation methods (economic, market and asset), Payback period, NPV and IRR, + 3 practice cases to put it all together in a practical way.

· Financial concepts: Balance sheet, Income statement/P&L and Performance ratios (based on sales and based on investment), +1 practice case

· Market structure & pricing: Market types, Perfect competition markets (demand and supply), Willingness to pay, Pricing approaches, Market segmentation and Price elasticity of demand, +1 practice case

· Marketing and Customer Acquisition: Sales funnel, Key marketing metrics (CAC and CLV) and Churn, +1 practice case

Feel free to PM me for disccount codes for the guide, and I hope it helps you rock your interviews!

Answer 4

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Answer 5

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Answer 6

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