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Consulting Q&A

Consulting Q&A – Ask Questions about Your Career

In this overview, you will find all the questions asked so far by the PrepLounge community. Anyone can ask questions and write answers. Our coaches are also happy to share their expertise. If you like an answer, give it an upvote so that it rises to the top. Here you can also find our guidelines and FAQs for the Consulting Q&A.

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I often heard that in Asia, the best age range for career is 25-35, is it similar case at your place?

competition
Most recent answer on Oct 27, 2023
The best answer (on Apr 19, 2021) is from:
Francesco
Expert
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching
Francesco
Expert
 gave the best answer on Apr 19, 2021
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching
Hi there, The 25-35 range is definitely important as creates the foundation for your next years. Still: You can mess up / fail a lot in 25-35 and be very successful after that if you have the right attitude/persis ... (read entire answer)
9
Answers
696
Views
92
Total Upvotes
on Oct 27, 2023 on Oct 27, 2023
Last Activity

How do consultancies manage confidentiality when working with competitors?

competition confidentiality discretion integrity ways of working
Most recent answer on Oct 13, 2023
The best answer (on Oct 13, 2023) is from:
Benjamin
Expert
Ex-BCG Principal | 8+ years consulting experience in SEA | BCG top interviewer & top performer
Benjamin
Expert
 gave the best answer on Oct 13, 2023
Ex-BCG Principal | 8+ years consulting experience in SEA | BCG top interviewer & top performer
Hi, Great question.  Typically there are very strict rules in terms of: Staffing: e.g. you are not allowed to work on competitors after doing a client project for x duration) Data management: e.g. all client data is onl ... (read entire answer)
3
Answers
4.9 k
Views
14
Total Upvotes
on Oct 13, 2023 on Oct 13, 2023
Last Activity

MECE: market analysis v customer analysis v competitor analysiS

competition customer MECE
Most recent answer on Aug 31, 2022
The best answer (on Oct 24, 2018) is from:
Guennael
Expert
Ex-MBB, Experienced Hire; I will teach you not only the how, but also the why of case interviews
Guennael
Expert
 gave the best answer on Oct 24, 2018
Ex-MBB, Experienced Hire; I will teach you not only the how, but also the why of case interviews
Your are basically about a framework that merges the Ps and the Cs here, which I typically refer to as the 'business framework' (cf. Victor Cheng). Where is your product? your price? your go-to-market? My go-to is a v ... (read entire answer)
3
Answers
3.7 k
Views
1
Total Upvotes
on Aug 31, 2022 on Aug 31, 2022
Last Activity

Case Competition Advice

Case Competition casing competition
Most recent answer on Feb 13, 2022
The best answer (on Feb 12, 2022) is from:
Charlotte
Expert
Empathic coach, former McKinsey Engagement Manager |Secure offers from top consulting firms
Charlotte
Expert
 gave the best answer on Feb 12, 2022
Empathic coach, former McKinsey Engagement Manager |Secure offers from top consulting firms
Hi Anonymous,  congratulations. In terms of prep it is really important to quickly get to the level that you cover each of the basics in casing (structure, problem solving, delivery) and then to get to the second level ... (read entire answer)
3
Answers
826
Views
25
Total Upvotes
on Feb 13, 2022 on Feb 13, 2022
Last Activity

how to grow in a stagnant market/industry

BCG competition McKinsey
Most recent answer on Aug 23, 2021
The best answer (on Aug 23, 2021) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Aug 23, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Hi there, I'm sorry but this isn't even close! (Apologies for being so direct). You very much need a crash course in structuring/frameworking. This is really really difficult to explain succinctly in writing - please re ... (read entire answer)
2
Answers
673
Views
37
Total Upvotes
on Aug 23, 2021 on Aug 23, 2021
Last Activity

What are examples of threats of new entrants to the consulting industry?

competition MBB
Most recent answer on Jul 30, 2021
The best answer (on Jul 30, 2021) is from:
Florian
Expert
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets
Florian
Expert
 gave the best answer on Jul 30, 2021
Highest-rated McKinsey coach (ratings, offers, sessions) | 500+ offers | Author of The 1% & Consulting Career Secrets
Hey there, MBB is very good at buying out threats at a very early stage or partner with them in certain industries and create spin-out companies. You might want to google what type of companies McKinsey, for instance, ... (read entire answer)
3
Answers
1.5 k
Views
14
Total Upvotes
on Jul 30, 2021 on Jul 30, 2021
Last Activity

Strategy& US Offices

competition salary strategy& USA
Most recent answer on Jul 22, 2021
The best answer (on Jul 21, 2021) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Jul 21, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Hi there, Yes there is - however, I genuinely would focus more on which offices you individually fit the best in. That is, where do you have work/life experience and where have you networked. Playing the supply/demand ... (read entire answer)
2
Answers
980
Views
9
Total Upvotes
on Jul 22, 2021 on Jul 22, 2021
Last Activity

Competition impact on cost

competition
Most recent answer on Jun 26, 2021
The best answer (on Jun 26, 2021) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Jun 26, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Hi there, It's very rare for competitors to directly affect your costs. Now, of course a competitor cost-cutting would lead to you needing to cut your costs. Equally, a competitor making large capex expenditures (more ... (read entire answer)
5
Answers
522
Views
72
Total Upvotes
on Jun 26, 2021 on Jun 26, 2021
Last Activity

Analysing competition when determining market attractiveness

Case Interview competition Framework Market analysis market entry
Most recent answer on Dec 14, 2020
The best answer (on Dec 13, 2020) is from:
Ian
Expert
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Ian
Expert
 gave the best answer on Dec 13, 2020
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Hi there, You're absolutely right! One is not necessarily more attractive than the other! The best thing to look at, in realitty is expected margins and expected market share. That's what really matters. That said, ... (read entire answer)
5
Answers
1.6 k
Views
61
Total Upvotes
on Dec 14, 2020 on Dec 14, 2020
Last Activity

Competitive Response Cases

caseinterview competition
Most recent answer on Jul 14, 2020
The best answer (on Apr 13, 2019) is from:
Vlad
Expert
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Vlad
Expert
 gave the best answer on Apr 13, 2019
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Hi, There are no magic pills and we need to know the objective and the context of the case to help you with the structure Best
2
Answers
2.6 k
Views
1
Total Upvotes
on Jul 14, 2020 on Jul 14, 2020
Last Activity

Competition

competition
Most recent answer on Jul 14, 2020
The best answer (on Jul 13, 2020) is from:
Sidi
Expert
McKinsey Senior EM & BCG Consultant | Interviewer at McK & BCG for 7 years | Coached 350+ candidates secure MBB offers
Sidi
Expert
 gave the best answer on Jul 13, 2020
McKinsey Senior EM & BCG Consultant | Interviewer at McK & BCG for 7 years | Coached 350+ candidates secure MBB offers
Hi! I'm no sure I agree with the basic premise of your question ("a fragmented market structure is usually preferred over a concentrated one"). The question is how easily an entrant could reach a strong market posit ... (read entire answer)
8
Answers
1.6 k
Views
28
Total Upvotes
on Jul 14, 2020 on Jul 14, 2020
Last Activity

Non-competition clause

clause competition contract legal offer
Most recent answer on Apr 05, 2020
The best answer (on Mar 21, 2020) is from:
Daniel
Expert
McKinsey / ex-Interviewer at McKinsey / I will coach you to rock those interviews
Daniel
Expert
 gave the best answer on Mar 21, 2020
McKinsey / ex-Interviewer at McKinsey / I will coach you to rock those interviews
Hi! I personally didn't have such a clause in my contract (McKinsey Germany), but as far as I know for other regions of the world it's a pretty standard practice, so doesn't surprise me at all. Best, Daniel
9
Answers
4.4 k
Views
15
Total Upvotes
on Apr 05, 2020 on Apr 05, 2020
Last Activity

Favorability of the Markets by Competition

competition market entry
Recent activity on Apr 26, 2019
The best answer (on Apr 02, 2019) is from:
Vlad
Expert
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Vlad
Expert
 gave the best answer on Apr 02, 2019
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Hi, It depends on the way you enter: If you are entering organically (from a scratch) - you should look for fragmented markets (Comps have less buyer power, less supplier power, less economies of scale and thus it ... (read entire answer)
2
Answers
1.9 k
Views
5
Total Upvotes
on Apr 26, 2019 on Apr 26, 2019
Last Activity

Competitors vs. Market

competition market
Recent activity on Oct 10, 2018
The best answer (on Oct 10, 2018) is from:
Benjamin
Expert
ex-Manager - Natural and challenging teacher - Taylor case solving, no framework
Benjamin
Expert
 gave the best answer on Oct 10, 2018
ex-Manager - Natural and challenging teacher - Taylor case solving, no framework
Hi, Both can work, but I personnally would recommand to cluster them into one topic adressed : Market attractivness : with the following sub bullets market & segment size market & segment trend market ... (read entire answer)
3
Answers
2.3 k
Views
3
Total Upvotes
on Oct 10, 2018 on Oct 10, 2018
Last Activity

Are there any threats of substitution for consulting as an industry?

competition consulting industry substitution
Recent activity on Sep 19, 2018
Anonymous gave the best answer on Sep 11, 2018
I see two things replacing/impacting consulting (at least in it's current/traditional state), both driven by technology: clients undertaking work internally, and the emergence of big data / data science. When excel wa ... (read entire answer)
3
Answers
6.3 k
Views
3
Total Upvotes
on Sep 19, 2018 on Sep 19, 2018
Last Activity
15 results
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