Quick math/logic question!!

Prepare for Your Consulting Case Interview by Learning the Basics and Mentally Preparing for the Intense PracticeHow do I prepare for this daunting task?In tackling case interviews, it’s quite possible for bright candidates, who know exactly what to expect, to lose their composure. In order to repeatedly demonstrate prerequisite skills under the pressure of a real case interview, those skills almost have to become “second nature”. This can only be achieved with sufficient preparation.Here are three approaches as a timeline that the most successful candidates use at top consultancies like McKinsey, BCG or Bain:  Self-study: Familiarize yourself with the basic concepts and frameworks. Don't spend too much time memorizing things. Rather, try to go through cases yourself and think about how you can build on the frameworks to develop your own customized structure.Interviews with peers: Put theory into practice by solving cases together with like-minded case partners. On our meeting board you will find numerous case partners with whom you can practice. After your first case interview simulation, you will know where you stand in your preparation. From this point on, you can improve continuously until you succeed in solving the cases almost effortlessly.Interviews with coaches: Especially if you have limited time and want to get the most out of your case interview preparation, we recommend that you prepare with an experienced case coach. On PrepLounge you will find more than 650 (former) management consultants from top consultancies such as McKinsey, BCG or Bain, who will help you to be perfectly prepared for your interview. You can either book individual sessions or benefit from the price advantage of the coaching packages.In short, you need to learn the fundamentals and then PRACTICE PRACTICE PRACTICE! The latter naturally being the most important driver. You can think of case interviews as analogous to sports: Athletes spend some time learning the rules and best practices / important plays, but at the end of the day, they need to practice intensely during training to be ready for the big game. 

Learn more about the Oliver Wyman consulting case interview and how to best manage it.

Case Interviews: The Hardest Part of the Consulting Recruiting ProcessWhat is a case interview, and how should you prepare for it?A case interview is a 30-minute simulation of a typical business project that consultants may have worked on. Cases provide a real example of an on-job experience and the assumption is that if a candidate is successfully able to tackle a case interview, they are more likely to be a successful management consultant. Unfortunately, several outstanding candidates with top grades and co-curriculars fail case interviews in the recruiting process. Why is that? One reason is that several candidates memorize standard frameworks, hoping to recall each framework during case interviews. Frameworks, though useful for a rudimentary layout of case problems, must be tweaked and customized for different cases. You can become proficient in case structuring but only with the necessary practice.While good candidates use standard frameworks to systematically solve the problems in consulting case interviews, outstanding candidates also see the big picture and adapt the frameworks specific to the business case. To become an outstanding candidate: Learn different types of business cases Learn to differentiate the various case types Understand the process of breaking down complex cases into simpler components Learn to apply problem-solving skills in appropriate frameworks (issue trees) Practice, practice, practice!*article-lock-trigger*This BootCamp will provide you with the basic tools you need for an effective case solving process and familiarize you with most different types of cases. Once you’ve got the hang of it, solve as many cases as you can and remember: NOT to memorize the cases you solve during your preparation! NOT to blindly apply standard frameworks, especially where they do not fit!For a more detailed look at how to ‘crack’ cases, please visit our best practice approach.These case studies are the main and usually the longest part of consulting interviews. During the 20 to 40-minute case interview, you will be confronted with a business problem that is often drawn from one of the interviewer’s real-life engagements. Below is a schematic showing a typical process for a consulting interview after a resume screening.  Many companies peer-review and standardize their consulting business cases prior to a real case interview to ensure that the case is neither too hard nor too easy. The companies also ensure to test a variety of skills during case interviews. Unlike the case books you may know from your university or case reports in business journals, the initial information you will get is very limited. You won’t be able to solve the case using only this initial information, also known as the opening of the case. Typical openings are: “Company ABC is a watch manufacturer who is recently experiencing profit problems and a decline in market share, what should they do?” “Company XY is an automotive company who is thinking about entering the Chinese market in 2014, should they go east?” “Company Z is a private equity company that contemplates merging with company A. Does it make sense?”After the opening of a case, you should take a couple of minutes to structure your thoughts and come up with a customized framework (more on this later).  Visit our employer profiles or homepages of the companies that you would like to work with for further information about consulting casesHave a look at many prestigious employers in our career section. You will find priceless insights about their respective application process. If you are interested in applying to MBB consulting firms: below you can also find links to their respective descriptions of consulting case studies.While acing case interviews is indispensable, the "personal fit interview" is equally important. Visit the personal fit part of the Case Interview Basics for more information on this part of the recruiting process.