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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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How would you calculate the economic value of overtime?

economics offer
Most recent answer on Dec 22, 2022
Anonymous gave the best answer on Dec 22, 2022
The value of overtime to your employer will be based on your current economic package. the value to you will be the opportunity cost. You tend to work up until the next hour of overtime is worth more to you (e.g. overti ... (read entire answer)
3
Answers
2.8 k
Views
21
Total Upvotes
on Dec 22, 2022 on Dec 22, 2022
Last Activity

Economic Consulting vs Management Consulting

economics
Most recent answer on Dec 22, 2022
The best answer (on Oct 23, 2017) 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 Oct 23, 2017
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching
Hi Rob, I interviewed with both economic and management consulting firms and can confirm that yes, interviews are pretty different. In strategy consulting interviews: The interview is mainly based on fit questio ... (read entire answer)
2
Answers
10.6 k
Views
20
Total Upvotes
on Dec 22, 2022 on Dec 22, 2022
Last Activity

Economics interview

development economics economics industry organization international trade macro economics
Most recent answer on Apr 29, 2021
herby asked on Mar 20, 2016
Hi, is anyone interested in economics related cases? For example, market structure/industry organization, macro economics policy, development economics policies, and general policy cases.
1
Answer
5.4 k
Views
0
Total Upvotes
on Apr 29, 2021 on Apr 29, 2021
Last Activity

Recommended book

Books business concepts economics interpersonal skills leadership and development
Most recent answer on Apr 15, 2021
The best answer (on Apr 15, 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 Apr 15, 2021
#1 BCG coach | MBB | Tier 2 | Digital, Tech, Platinion | 100% personal success rate (8/8) | 95% candidate success rate
Hi Helena, I'll let the others recommend books, but I personally prefer articles. I think they're most interesting and help you learn more :) I recommend the following: https://www.spencertom.com/category/manage ... (read entire answer)
4
Answers
1.5 k
Views
48
Total Upvotes
on Apr 15, 2021 on Apr 15, 2021
Last Activity

Does anyone have a framework for approaching Economic Consulting Case studies specifically ?

economic consulting economics
Most recent answer on Apr 04, 2021
The best answer (on Apr 03, 2021) is from:
Clara
Expert
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut
Clara
Expert
 gave the best answer on Apr 03, 2021
McKinsey | Awarded professor at Master in Management @ IE | MBA at MIT |+180 students coached | Integrated FIT Guide aut
Hello! Overall, careful with frameworks. Don´t ban them either, since they have huge utility at the beggining, when you are starting. however, they are only that, the starting point. The summary were you see som ... (read entire answer)
3
Answers
3.8 k
Views
45
Total Upvotes
on Apr 04, 2021 on Apr 04, 2021
Last Activity

I need to improve the quant part of my case cracking. Suggestions on the casebooks I could use or other tips? Thanks! :)

economics Market sizing Quantitative skills
Most recent answer on Sep 30, 2020
The best answer (on Feb 28, 2019) is from:
Vlad
Expert
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Vlad
Expert
 gave the best answer on Feb 28, 2019
McKinsey / Accenture Alum / Got all BIG3 offers / Harvard Business School
Hi, Here is how you can improve your math skills: 1) Fast math - train, train, and train again Learn how to multiply double digit numbers (https://www.youtube.com/watch?v=6ndkkPZYJHo) Learn the division table ... (read entire answer)
5
Answers
3.2 k
Views
10
Total Upvotes
on Sep 30, 2020 on Sep 30, 2020
Last Activity

MBB Experienced Hire for non-MBA Master

economics Experienced Hire MSc
Most recent answer on Jan 24, 2020
The best answer (on Jan 24, 2020) 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 Jan 24, 2020
#1 Coach for Sessions (4.500+) | 1.500+ 5-Star Reviews | Proven Success (➡ interviewoffers.com) | Ex BCG | 10Y+ Coaching
Hi Anonymous, please find the reply to your questions below: An MBA is not necessarily required to be hired as a Consultant (BCG) or Associate (McK), I personally helped people to land such position without a prev ... (read entire answer)
2
Answers
2.1 k
Views
2
Total Upvotes
on Jan 24, 2020 on Jan 24, 2020
Last Activity

Economy Dips/Hiring in Western Europe

Application application process economics hiring interview process MBB Recessions
Recent activity on Jan 03, 2019
The best answer (on Jan 03, 2019) 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 Jan 03, 2019
Ex-MBB, Experienced Hire; I will teach you not only the how, but also the why of case interviews
Even during recessions, consultancies will need new people coming in. Classes may be a little smaller, but most of the impact would be felt by consultants already in the firm: less staffing, harder promotions / longer c ... (read entire answer)
1
Answer
2.5 k
Views
2
Total Upvotes
on Jan 03, 2019 on Jan 03, 2019
Last Activity

Which are the variables affecting the Strategy/Management Consulting market? How it is this market likely to evolve?

economics market study
Recent activity on Jan 02, 2019
Anonymous gave the best answer on Jan 02, 2019
Hi there; this article is one my favorites. It provides very clear statistics and useful insights which I believe that it will help you to understand both the current situation and future direction of the industry: ht ... (read entire answer)
1
Answer
1.9 k
Views
7
Total Upvotes
on Jan 02, 2019 on Jan 02, 2019
Last Activity

Interview questions on Public policy

economics Public policy
Recent activity on Jan 31, 2018
herby asked on Mar 19, 2016
Hi, is anyone interested in practising both business and country level policy cases? I want to have one or two partners to improve the skills together. If you are interested, please leave your skype name. Thanks!
1
Answer
5.1 k
Views
0
Total Upvotes
on Jan 31, 2018 on Jan 31, 2018
Last Activity
10 results
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