Now I know that the best way to practice cases is by watching other people do cases and then go over cases with a colleague but what about when you are just starting out practicing for cases and you've finished a book like Case-in-Point or Case Interviewing Secrets, and you want to practice a little bit on the practice cases that are in things like HBS Consulting Club Interview Guide. What's the best way to approach them?
I'm just finding it difficult to work on my interviewing skills this way is because a large part of the candidate-led case seems to be asking the right questions., and I don't really know how to simulate that in these practice cases that are in these books.
Any help is much appreciated! Thanks guys.
It might be a good idea to find a group of friends interested in consulting, have one of them become the expert on a couple of cases in the book each week, and lead the others through them, then switch the next week. If you're still in school, go practice at your school's consulting club.
Or, after reading the problem statement, you could stop reading, then list all of the questions you might think to ask. Then look at the data provided and see if your "question was right" and the data answering your question is there.
And when you find something you didn't think of, stop reading and think out the implications / how this changes your thoughts before you keep reading.
Are you already well versed in business issues? I have found that students who don't have any background knowledge in business struggle with asking the right question because they often don't know how different components of the case are inter related. So if you don't already, get a WSJ subscription and read the Marketplace section everyday like your life depends on it.
Otherwise, first practice how to come up with the bigger framework. You can read the problem statement and just think of a framework in 1 minute. Then compare with the casebook. The initial framework is the most important and the most difficult matter.
The HBS casebook (at least the ones I've seen) are actually not that helpful. Google and find Ross and Wharton ones. They're much better for practicing.
Do you mean the business section of WSJ? Don't really see how the Marketplace section would help you prepare for case interviews. The Marketplace section is very econ-centric (stocks, assets, etc.).
Nope, not in the US. In the US versions, Marketplace & Tech is where all the business news (most of earnings, M&A, management issues, etc) are. The market information (stocks, commodities, etc) are in the Money & Investing section. I don't think the WSJ US has a Business section (maybe it's in the main section.)
Things might be different for foreign versions since WSJ looks drastically different in different parts of the world. But outside of US, I would recommend FT since WSJ's foreign versions (including Europe) are overpriced crap. If you have time for both, all the more power to ya.
I think pnb is referring to the print edition of the WSJ. In the print edition, it's separated into Marketplace. If you only have an online subscription, go through business and tech (specifically management within business).
The economist is also a great read too. Subscribe to the print edition.
The second half of MTV's advice is basically what I've done, but I'll mention a few other things I've done that I think make sense, especially in terms of your concern about asking the right questions, but also in terms of practicing communication skills and structured, logical thinking which is what interviews in consulting are really looking for. Most of the case examples out there are structured into basically three sections: opening, analysis, and recommendation.
For the opening they give you the prompt. What I do is read it, sketch out a framework, and then out loud explain to a supposed interviewer what my framework is. Saying it out loud helps practice communicating my thinking and gives me a better sense of how I'm approaching the problem; for as I say it out loud and try to explain it I start to see my approach from the perspective of the interviewer and whether it makes sense or not, that is, whether it's getting to the heart of the issue.
For the analysis section, which is basically a data bank, or list of information to guide the interviewee, I use my framework to create issue trees, and use the following process: (1) pick a branch of my issue tree that I want to start with and then I basically skim through the data bank to see if there's information that pertains to the branch I'm working on. (For example, if it's a profitability problem and your starting on the costs side look for information about costs. Or if it's an entering a new market problem and you want to start with customers and the market, look for that). (2) If there is information pertaining to the branch you'd like to look at then like MTV says you can think about the implications and continue down your issue tree or go back up and explore another area. (3) If there's no information pertaining to the branch you started with, you can assume it's not the right way to go and go back to step (1) picking a different branch to work on. This will help practice logical, structured thinking and it will help with diagraming your thinking so the interviewer can more easily follow your train of thought. As long as your thinking is structured in terms of an issue tree you should be able to land on the right issue/ask the right question.
For the recommendation part they say what the recommendation should be based on the data. Here, before reading what it is, practice synthesizing the important point and saying out loud what you think the recommendation should be. This will help with identifying and synthesizing key information and with communicating your thinking to the interviewer. Then read what the suggested recommendation is and if you were on the same lines or not. If not go back and see what information you missed and why your issue true didn't preclude you from missing it.
Obviously this is not as good as actual live practice, but in the absence of practice partners I think it's a way to practice two important skills you'll actually need to do well in the interview: (1) communicating your thinking to the interviewer and (2) structuring your approach in a way that will ensure you sleuth out what the key drivers are.
If you can't tell, I'm having to do a lot of solo practice as well! So if you or anyone has any other tips I'd be interested to hear them.
Iphone Apps to Practice Case (Math) Interviews? (Originally Posted: 12/01/2012)
Does anyone have recommendations on iphone apps to practice mental math for case interviewing? I know I've seen stuff online in the past but can't find them now. Thanks.
They do math brainteasers in consulting interviews? I thought that was more for prop trading and S&T?
https://itunes.apple.com/us/app/consulting-case-interview/id454022752?m…
https://itunes.apple.com/us/app/bizmath-1.1/id398924301?mt=8
Where do you find practice cases? (Originally Posted: 08/05/2014)
Hi Guys,
I am just starting to get to start actually practice cases after doing LOMS, and just wondered where does everyone find the cases to use when practicing with a partner? Is there a case library somewhere or any websites that do this best?
Thanks in advance for any help, its much appreciated.
look up duke's consulting club for resources
Everyone seems to love Case in Point, but it's never been my favorite. Crack the Case has better cases, but terrible (IMO) methodologies.
The best cases, by far, come from MBA casebooks. Kellogg and Wharton stand out as excellent examples. Google [b-school name] case book or reach out to friends with MBA's and you'll probably get lucky.
You can come up with your own little cases, no joke. Case interviews test structured thinking, among other things.
I just went to businessweek.com - here are some of the articles I saw on the homepage....and how I could practice how I break apart a business question / problem -- 49ers new stadium....what revenue streams are coming from their new stadium and how would i think about growth? -- Apple's iPhone....how would I price the new product if it indeed is coming in different screen sizes? -- P&G announced it will shed some brands.....how would I decide which brands to keep and which should go?
These are interesting problems to think through, and learning how to break them into pieces and think through without "answers" will help you prep.
I agree with the recommendations for MBA case books. And yes, thinking about current topics in business does help with your analytical skills and it also helps you think through some possible business solutions (for when the interviewer inevitably asks you "give me some ideas to solve this problem").
Practice Cases (Originally Posted: 02/09/2008)
I am prepping for a second round interview with Bain. Does anyone have a good recommendation on where to find some good practice cases other than the Vault Guide or Case in Point?
most of the consulting firms have practice cases on their websites. case in point has extra practice cases on cosentinos website, but i think you have to pay. seriously though, if youve actually read all the cases in case in point, you shouldnt need more practice ones. its really about getting the style of thinking down--this isnt going to be like wall street brainteasers where you hear it and go oh i remember that one. if you got through the first round for bain, youre probably pretty solid anyways. the only exception to these are some of the ultra mathy cases, but i dont think bain really asks those (really i think the only firm that does is owfs and probly other more math oriented firms), and i doubt youd be able to find a list of these anyways.
Try this. Call up your rd 1 Bain interviewers and go over practice cases with them or seniors you know who have joined MBB for FT next year. Option 1 is the best method of studying, because you are at least practicing with someone who is trained in how to give one. Also, they have a whole list of practice cases from which to choose. I've found that working with friends kinda blows, since not all of them know what they are doing.
The only difference between Bain rd 1 and rd 2 is really in the length of the cases (30 min vs. 45 min), aside from the fit questions, which are softball in nature (Why consulting over financial services? Why Bain? Why office? What will you do if you don't get the job?) Trust me, if you stay committed to the style you used in rd 1, you'll be ok.
Since I'm in a good mood, PM with an email address and I'll forward you some practice cases.
How'd your first interview go? P=R-C?
Book to practice calculations in case studies? (Originally Posted: 11/14/2010)
Hi,
since my interviews with McK were not succesful, I am trying to prepare myself better for my next chance with BCG. As for the feedback from McK, my soft skills etc. were all very good, but they were not convinced of my analytical skills in terms of calculations during the cases as well as structuring my answers constantly during the cases.
Therefor, I was wondering if any of you can recommend a good book to practice analysing data and doingcalculations (in particular with big number). I really want to get more comfortable with this especially in a stressful situation, as I think this is definitely something I can quickly improve on..
Many thanks in advance.
Bumpy.
Mark Cosentino's Case in Point has good stuff on cases, estimation problems, etc. - basically all the consulting interview stuff. www.caseinterview.com is absolute gold when it comes to structuring case responses, which is more important than getting calculations right (you'll be forgiven a minor calculation error, but not a crappy approach to the case).
As for calculations, this one is straight out of caseinterview: Take out a piece of paper and just write down a ton of multiplication and division problems with big numbers. Things like 120 x 40,000 or 15 billion / 30 million. Do a couple hundred of these and you should be good to go. Don't forget that you don't have to do them in your head: it's better to write the math out, work through it slowly, and ultimately get it right than it is to do it mentally and make a mistake. They don't expect you to work at lightning speed.
You might also try the infamous "how many golf balls would fit in an airplane?"-type questions. A lot of preparation sources talk about these in depth, but I actually never got one in any of my MBB first or final rounds (the closest thing was "estimate the market for industrial workboots.") Problems like this do, however, involve multiple calculations and are another good type of practice.
Case practice - doubts (Originally Posted: 09/11/2009)
Ok. So I am getting ready for the fit questions, I have fun having guesstimates at random times in my day, and I know that I have to practice, practice, practice cracking cases.
So far so good. I have several pdfs with dozens of cases on my desktop, and a smart and motivated friends who is willing to practice with me.
But you know, having no experience with case interviews, I feel like it would resemble two blind ferrets trying to point each other the black ball among the white ones. Seriously, aside for obvious suggestions on how to improve his body language and his speech, correcting some glaring mistakes in the way the case is solved, how can I help him? I don't know what exactly interviewers are looking for. Ok, I know that on theory, but I don't know that on practice. I feel like it would soon degenerate into a blind application of frameworks, something I perfectly know is wrong.
Am I making fuss about nothing? How was your experience of case practicing?
Consulting?
Mmm...not very clear on what you are asking.
If your interview responses resemble anything like your WSO posts, you are in big trouble.
Good to know that. Fortunately
a) this is not what I asked. b) you can't really compare case interviews with forum posts. c) considering your lack of contribution and willingness to be negative, I don't take your opinion too seriously.
willingness to be negative? how awkward. next time try proclivity for negativity.
As for the case interview practice, I found it most helpful to give cases I actually received during interviews. These generally worked better than the ones provided in books.
Seems like the problem with case interviews provided in books is that they are too short and provide no hard data. Is that correct? A professor of mine offered to give me 5-6 HBS cases. Would that help?
Your suggestion makes a lot of sense, especially if you have a friend who's giving you the cases he received during interviews.
The HBS cases would no doubt be helpful. Just be aware sometimes the book cases include rather complicated calculations (I've seen a DCF before) that leave you saying, "How do they expect me to come up with that in an interview situation?" The answer is they don't. The real MBB case interviews certainly have (simple) math and graph interpretation, but with plenty of rounding to make the numbers easier.
Nightbreeze, I think your eloquence (or lack thereof) when posting on a forum does translate to how well you respond during a case, considering there is even less time to think and respond appropriately in an interview setting.
Try 'Case In Point' and 'Crack The Case.' Those are two good resources for you to hone your case interview skills.
Case interview practice, rounding out the basics, advancing further (Originally Posted: 08/29/2017)
Hi all,
I am currently familiarizing myself with case interviews and the consulting field. I am a PhD in the humanities/social sciences planning to apply for full-time consulting positions next year. I spent the summer reading everything I could possibly find about consulting and have familiarize myself with frameworks and their underlying concepts and rationale. I've spent a lot of time learning the basic frameworks (profitability, 3c 1p, m&a) and have taken time to dig deeper into things like Porter's five forces, McKinsey 7s, BCG matrix, and so forth. I feel that I have a good rudimentary understanding of these frameworks and concepts, but before I start doing cases I really want to round out my knowledge of them. I've read through Case in Point, Case Interview Secrets, McKinsey Mind, McKinsey Way, Management Consulting A Guide to the Profession, and have watched dozens of videos online. I am wondering the following:
(1) What would be the best sources for really rounding out and reinforcing this initial study? (2) What are good some sources of more general business strategy relevant to consulting that would help me to further develop my understanding of these concepts?
Any suggestions on these would be helpful. Thanks in advance.
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