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Hi Alex,

In the PST you face 3 business cases across 26 questions in 60 minutes (usually when English is not your native language they allow for 15 extra minutes).

If you think about the structure of question for each case, it closely resembles a project: understanding the scope; obtaining results; giving a final recommendation.

According to sources online the passing grade is around ~18 correct answers which roughly equates to 70% passing score.

When you look at number of submissions an office receives per year will be well into the hundreds (maybe even thousands). You obviously need some screening otherwise consultants wouldnt be doing anything other than interviewing people.

So, the screening starts by the CV/CL review, claiming victims ~2/3 or so. Than you move to a math exam which is very cheap for a company (some even have it online like OW), claiming victims ~2/3 of the remaining. So, in just to simple steps we are left with ~10% applicants and we havent even started interviewing anyone. These numbers are a bit exagerated but I would say real numbers would be more on the ~high 20s%.

So coming to your point, PST is so hard to screen out weak performers. You can then rebuttal and say "hey, but maybe some of the people that failed were possible top performers!". True, but when you get hundreds of applicants PER OFFICE PER YEAR you can definitely be willing to lose some.

As a reference point, I'm a senior consultant in a tier 2 consulting firm conducting final rounds in my office and we roughly give 1 offer per 100 candidates applying, MBB would be even lower.

Just my 2cents :)

The greatest accomplishments come from temporary defeat.

1) Try new tactics and and learning methods to really learn what you're doing wrong

2) Don't put all your eggs into the MBB basket - apply to other consulting firms (there ar elots of great ones) as well as other jobs that interest you

Hi Smreeti,

Send it through and I'll give some quick feedback

Hi,

Most often this question is answered after the interviewer's case introduction/ description when asking you "what would be your e.g. first step to approach this" or "which questions should be answered before thinking about how to solve this case". This seems to be an interviewer-led case, because she/he starts with one question as a first step and you can expect that the next question will follow after your answer. The interviewer expects precise and focused answers to each question asked.
Your answer can end with "... This step could be followed by action xy", but you shouldn't start to explain "action xy" before asking e.g. "would you like to hear what this next action could be or discuss my answer to your question first?" The interviewer would see that you expect next steps and provide an answer which allows them to follow, but you should avoid running in the wrong direction, if your answer is not e.g. what the interviewer expected.

In case the interviewer asks "what would be your approach" or "how would you solve this", it might be a more candidate-led case, because the interviewer expects you to prepare a structured step by step approach to find a solution or recommendation. You should ask for a minute to think about the most relevant questions, write them down (potentially in a structured and content related way), then ask the questions and for another minute to think about her/his answers while preparing the step by step approach, you would like to present and discuss with the interviewer.

However, the case could also be both an interviewer-led and a candidate-led case: it might start with precise questions and continue with requesting a step by step approach. So it's always important to listen carefully what the interviewer tells you.

I hope this helps.

Best,
Carolin

Hi,

Yes, in fact I have done the same today when I interviewed upcoming interns. The main reason is that interviewers typically have 2 3 different cases, thus they don't want you to share the solutions to other applicants.

Best,

Deniz

Hi,

from a recent recruitment event, I understood the following:

• new hires (after completing a masters degree for example) are usually a generalist for a few years, but you are really responsible for the types of projects you want to do
• you are obligated to pick one of their practices or industries at the very last once you are promoted to project leader (along their matrix)

Matrix Setup (how the company is organized, which practices exist):

• generally, they are organized in industries (e.g. pharma/healthcare, industrial goods) and practice fields (e.g. strategy, operations, etc.)
• Project are usually at one if not more of the intersections of these practices

What are your options if you are unsure about which practice or industry you want to go into or are a mature hire?

• Once you enter, they presented three paths you can take (for your first year, I believe as part of being a generalist):
  • Diversity: If you want to experience multiple projects in different industries and practices this is the one
  • Expert: if you are set on an industry or practice and want to gain as much experience as possible in this field, choose this one
  • International: If you want to be staffed on projects in different countries, regardless of which type (usually a diverse mix, too), then this option is for you

During and after, you will be responsible for your own staffing (i.e. reaching out to project leaders/partners who have sold a certain project), so are pretty much in charge of which type of projects you are doing regardless of whether or not you are able to do the three tracks that I layed out.

Again, this is just what I remember them telling us, so don't quote me on it, but it should give you a first idea. Signing up for 'Backstage' events near you is a good way to learn about these things, though!

All the best :)

Hi Arty,

this is an option that sometimes arises for principals/associate partners in MBB, who have the chance to reach partnership in Big 4 companies, thus I guess that’s what you mean by Senior Consultant.

In terms of the variables you listed:

• In general a partner role is more prestigious than any senior consultant position
• In general the salary is better for a partner thanks to the variable component
• The brand of McKinsey is stronger than any Big 4
• Exit opportunities really depends on what you want to do. In general a partner position gives access to roles not accessible to senior consultants but as an associate partner at McKinsey you have the opportunity to become a partner there.

Hope this helps,
Francesco

Hi,

The answer will depend on your particular situation (relationships, etc), but in most of the cases:

• Career growth is faster at MBB
• Salary is much higher
• Exit options are better (at least in terms of variability)
• The learning curve is much better

Both career paths have lots of unpredictability since you can get stuck in your career on a corporate job and you can easily get out in consulting.

Best!

Hi,
it depends on how you define break-even point. Sometimes it is considered as the point where you have zero profits. However, you see it also at times defined as the number of years after you've regained your initial investment through profits over the life-span of a project. I personally disagree with the latter definition and wouldn't use it, but you encounter it in the casebooks, and you should be prepared for it. If fix costs do not play a role, then obviously disregard them. Always ask what is meant by break-even point as the term is at least in the English literature ambiguous, whereas in the German literature it always means the point of zero profits where the break-even sales volume is usually sought.

Hope this help!
Best,
Daniel

Hi,

I like the idea of venturing with ATK. But, I would go there with an open mind and not pre-decide that you will leave in 1-2 years. ATK is a great place and you might like the people/opportunities there. And after 1-2 years, if you still want to explore McKinsey, that option is always there.

While you're at ATK, do what you're most passionate about and do it well. Getting great ratings and a couple of great projects under your belt can go a long way in your McKinsey interviews, if you decide to go that route.

Hope this helps!

Nirmit

Hallo Moritz,

ich hoffe, ich habe Dich richtig verstanden. Du bewirbst Dich gerade bei einer MBB und arbeitest noch bei einer T2? Du möchtest nun etwas über die Interview-Tage wissen, wenn Du zu diesen eingeladen wurdest?

Zu 1) Ja, Du wirst mit Sicherheit gefragt, wieso Du wechseln willst. In der Regel kommt Ehrlichkeit hier am besten an. Du solltest nur vermeiden, schlecht über Deinen bisherigen Arbeitgeber oder Deine bisherige Rolle bzw. Tätigkeit zu sprechen. Erzähle weniger wieso Du diese nicht mehr gut findest, sondern mehr wieso Du Dich freuen würdest, eine Offer der MBB zu bekommen. Konzentriere Dich darauf, was Deine Interessen und Ziele sind und wie Du diese erreichen willst z.B. indem Du Dich genau auf die Themen fokussierst, die die jeweilige MBB anbietet oder durch internationalen Einsatz sowie Zusammenarbeit mit internationalen Kollegen, wenn das bisher nicht der Fall war. Du kannst sagen, dass Deine bisherige Erfahrung Dich zu dieser Erkenntnis gebracht hat. Du hast Dich fachlich und persönlich weiterentwickelt und siehst diese MBB als die richtige, um Deine zukünftige Entwicklung zu unterstützen. Dafür bist Du bereit, Dich mit exzellenter Leistung voll einzusetzen.

Zu 2) Ich denke ja. Es gibt eine Grund wieso sie die MBB sind und dieser beruht u.a. auf ihrem ausgezeichneten Ruf und ihren Ergebnissen. Um dem weiter gerecht zu werden, suchen sie nach den "besten Bewerbern", die genau in ihr Profil passen.
Daher empfehle ich Dir, Dich solange auf die Interviews vorzubereiten bis Du von den verschiedenen Case Studies träumst, während des Schlafs im Kopf rechnest, alle Brain Teaser kennst und mit vollster Überzeugung weißt, wieso diese MBB die richtige ist.
Das heißt nicht, dass die Vorbereitung Dich stressen soll. Versuche ein Spiel daraus zu machen, in dem Du von mal zu mal besser wirst. Irgendwann wirst Du das Gefühl haben, dass Du alles gemacht hast, was Du für eine wirklich gute Vorbereitung brauchst. Dann ist der richtige Zeitpunkt Dich zu bewerben, nicht vorher. Da man sich meist 2 - 3 Mal pro Jahr bewerben kann, nimm Dir die Zeit. Du wirst sehr viel ruhiger und selbstbewußter sein und das allein macht schon einen guten Eindruck.

Zu 3) Ich empfehle eher eine Ebene tiefer einzusteigen, weil es leichter ist Erwartungen zu erfüllen, die Du noch nicht vollständig kennst und schneller einen guten Eindruck zu hinterlassen. Wenn Du versuchst in einer Senior Ebene einzusteigen, sind die Erwartungen sehr hoch, was den Einstieg nicht unbedingt leicht machen könnte.

Ich hoffe, ich habe Dir Deine Fragen beantworten können. Solltest Du weitere Fragen haben, melde Dich gerne bei mir - auch wenn Du einen Interview Coach suchst.

Viele Grüße
Carolin

Hi Alex,

MBB normally cover all travel expense, thus as mentioned you may first of all discuss with HR if that’s an option. They will probably aggregate the test with interviews so that if you pass them you can directly have a first round interview as well.

Even if that’s not an option, personally I would still go for the tests (aggregating in days close to each other to limit costs). I would prefer to pay for the trips with the risk of wasting the money rather than keep the money and live with the idea of “What if I went and succeeded?”.

Best,
Francesco

Hi!

It should be your personal research since the reasons may vary in different geographies. Here are some ideas of what you can use to structure your thoughts:

• You can start with general facts about the local office. Something like “Sidney office is the fastest growing McKinsey office worldwide.”
• If you have an interest in a particular industry or client this may also be a great reason. For example, McK can be the only consulting firm working with airlines in your region.
• You may address the different Global opportunities and office initiatives. E.g. international staffing can be a good opportunity to learn about business in a particular country
• Try to combine professional and Non-business rational. If you have friends working in that company, don’t forget to mention them and what you’ve learned from their experience.
• You may use your other personal experiences like working with this McKinsey, it's deliverables or as it's client
• You can provide your personal experience of working with McKinsey Alums

Good luck!

In regards to Implementation Associate and Implementation Consultant, I can only presume that the consultant is more senior (paid more, requires more yrs experience, etc.).

However I recommend:

1. Reviewing the application page for detials around roles expected and experience requred - I'd be shocked if this isn't included
2. Use this as an opportunity to network! Reach out to the recruiter to ask some pointed (intelligent) questions about the roles, express your general interest, and ask if you could hop on a call with some to discuss a bit further to identify which role would fit you best. Two birds, one stone!

Hi,

Definitely take a break! Also, I would concentrate on getting the right financial modeling skills and presenting your analysis in Power Point.

1) Financial modeling - the best course I know is Training The Street. Take Financial Modeling, Valuation, Maybe LBO. Also, learn pivot tables and the basic statistics tools

Excel and Financial modeling - the best course I know is Training The Street. Take Financial Modeling, Valuation, Maybe LBO. They have the amazing templates that you have to reproduce to be able to do that fast.

The key thing - throw away your mouse and put some tape on your touchpad. Do everything with your keyboard!

2) Power Point

• First, read "Say it with charts" and "Pyramid Principle".
• As a next step Google for MBB presentations on SlideShare and try to replicate them in PPT.
• Finally, take MBA some cases (HBS or any other) and try to derive the conclusions and put them on slides using MBB styles.

And finally - take a long vacation before starting your job;)

While in consulting focus on the following:

• Having a good DGL / career counselor, etc. (Each company has different names). This is a person who guides your development in the company, collects the feedbacks on you, and presents your case to a promotion committee. Make sure to have a person who is organized enough to collect the feedbacks in time, who is a nice person in general and who has enough authority in the company (i.e. Senior partner - the more power he has - the better)
• Choosing the project you work on smartly (i.e. collect the feedbacks on each and everyone prior to accepting the project)
• Perfect technical skills (Excel, PPT, Problem Solving)
• Good feedbacks on you from the client. Thus try to make friends with your clients (Both senior and non-senior role. Even a bad feedback from a blue collar can ruin your career)
• Ability to manage your own standalone workstream with minimum supervision. TOP performers bring the end products that impress others
• Being proactive - helping the team with daily routine, scheduling, etc. Participating in the office initiatives
• Establishing relationships with your managers and partners. Ideally, you should have multiple senior partners to be excited about you and to support you)
• Being lucky!

Good Luck!

Hi,

have a look at the PrepLounge Map (https://www.preplounge.com/en/case-interview-partner-map.php). You can see people close to you.

Good luck with your preparation!

Best,
Daniel

Hi Anonymous,

this step is indeed typical at BCG in certain geographies. I would recommend you to focus on 5 areas to crack a presentation/written case; I have reported them below with some suggestions on how to prepare for each of them

1. Learn how to define a plan of action and stick to that

The first thing you should do in a written case is to define a plan and allocate in the best possible way your time. Assuming 120 minutes for the analysis, a good approach would include:

• initial quick reading – 20-40 min (this may depend on the amount of material)
• structure the approach – 10 min
• make slides/answer to the questions adding detailed analysis and math – 50-70 min
• final review – 20 min

You should then practice to stick to the time allocated, in order to maximize your final performance.

2. Practice graph interpretation

You will normally have to analyse graphs in a written case. The best way to practice is to take graphs from online resources and use a timer to test in how much time you can understand the key message. McKinsey PST graphs could be a good practice for that.

3. Work on quick reading and quick understanding of key information

You will not have time to read and prioritize everything, so you have to understand where to focus. The ideal way to practice is to use long cases such as HBS ones, and practice on reducing the time needed to absorb the key information that can answer a defined question. Quick reading techniques could also help.

4. Practice quick math

You will normally have math to do in a written case. GMAT and McKinsey PST math should work well to prepare on this.

5. Learn how to communicate your slides/answers

You have to present your findings at the end of the case. I would apply the same structures of final sum up in a live interview case, that is:

1. Sum up the main questions you have to answer
2. Present your proposed answer and detail the motivation behind
3. Propose next steps for the areas you have not covered

As you will not be able to double check hypothesis with the interviewer as in the live case before the presentation, you should clearly state when you are making hypotheses and that you will have to verify them with further analysis.

When you have to prepare slides I would also recommend to work on:

A) structure the order of the slides

Normally the structure for a 5-slide presentation is the following:

• First slide sums up the question and provides the answer
• Second, third and fourth slide have the supporting arguments for the first slide
• Fifth slide has the next steps

B) structure the content of each slide

There are three basic components for slides:

1. Title
2. Chart or data
3. Label for chart

Many people structure the title as the mere description of what the chart is telling. A great title, instead tells the implication of the graph. Eg say the graph is showing a cost structure for a division. A bad title would be: Cost structure from 2005 to 2015. A good title would be: Cost structure of Division XYZ is not sustainable”. A great title would be Cost structure of Division XYZ is not sustainable due to ABC, assuming you have insides on the cause. The rule of thumb for the title is that if you read all the titles of the slides together you should get a clear idea of what is going on.

C) present the slides

When you present, I would suggest the following steps for each slide:

1. Introduce the slide: “Let’s move to slide 2, which will show us why we have an issue with this division”
2. Present the main message of the slide: “As you can see, we have a cost structure which makes for us not feasible to be competitive in this market”
3. Provide details: “The graph, indeed, shows how our fix cost is XYZ, while competitors can benefit from economies of scale. Indeed…”

Hope this helps,

Francesco

Hi,

Gross margin is margin when you take the revenue and deduct the direct costs associated with the product such as cost of goods sold. This is the gross margin in absolute dollars, if you want a percentage divide by the revenue)

The operating margin is if you take the revenue, deduct the direct costs but also all the indirect costs (overhead, rent, etc.).

Here is an article with a more detailed explanation:

https://www.investopedia.com/ask/answers/010815/what-difference-between-gross-profit-margin-and-operating-profit-margin.asp

Hope this helps.