Part Three: College Market for Coupons Case Solution

Max is an aspiring consultant who is looking to secure an analyst role with one of the top firms for the upcoming recruitment cycle in September 2011. His interest in management consulting was sparked by a failed McKinsey interview last year. In this series of blogs, he will be sharing his background, case preparation process, useful resources, and any breakthroughs or setbacks that he experiences. *** This is an example case which I did by myself, and I wanted to post this to show people how they can practice solo with my case solution. Of course, this is not as useful as practicing with a partner, but it’s better than nothing! Case Question: Our client is a provider of coupons, and currently makes “welcome packages” for people who just moved to a new location. The client has had no luck reaching the college market and would like our help. In particular, they want to: 1) Segment the college market 2) Drive college traffic to their website 3) Retain their information online for future use [I actually think that this is a pretty good question for solo practice because you can layout your entire structure, and then go through to see…

Management Consulting

Cause and Effect: When Not to Choose Consulting

Cause and Effect: When Not to Choose Consulting Cause and effect are discussed to help readers understand when working for P&G, GE, Nestle etc., may be a better career path versus working for McKinsey, Bain, BCG, Deloitte, etc. Misunderstanding Cause and Effect Do you remember the days when it was cool to roll out software and stick a beta sign on it? There was a time between 2004 and 2008 when it was a badge of honor to roll out broken software and expect the beta sign to make up for the poor performance. Companies loved saying they were in beta-mode. Some start-ups actually rolled out software in this format just to have the beta sign up, even when they could have easily waited for a more refined version. Why did this happen? There is a one-word answer: Google. Google may not have pioneered the beta idea but they certainly made it acceptable. After Google started doing it, betas became famous for three reasons. First, Google was becoming cool and everyone wanted to be cool so they wanted to be like Google. If Google was releasing beta software, then they said, “What the heck, I should do it too.” Second,…

Management Consulting

Why go into management consulting: 11 reasons

Why go into management consulting: 11 reasons Management consulting, along with financial services, is among the top choices for most MBAs, other graduates, and even experienced professionals. This is despite the fact that the image of management consulting is not always positive. As some people say “management consultants take your watch and tell you what time it is”. You may be thinking about making the switch to management consulting, but may not be sure if you are clear on why go into management consulting vs. pursuing other attractive career paths. You may also be trying to figure out how to answer a possible consulting case interview question, "Why Consulting?" I am here to share with you my 11 reasons why go into management consulting. Hope you will find it helpful. FREE GIFT #1 BONUS TUTORIAL DOWNLOAD 20 Brain Teasers With Answers And Explanations Why I ended up joining a consulting firm I came across management consulting by chance. My close friend was a management consultant and he used to tell me how interesting his work was. He routinely regaled me with stories about the client issues, analyses and impact they were having. He also shared with me interesting books and articles,…

Consulting Billable Hours Model In Management Consulting

Why The Consulting Billable Hours Model Does Not Work For Consulting Firms Today I want to talk about the billable hours model and why it is unsuitable for management consulting. I have had a lot of discussions about the billable work model with aspiring management consultants, clients currently working for consulting firms, and other people in our network. I find that most consultants misunderstand the problem with this model. One misunderstanding I would like to address is that the billable hour model is not bad. It is a fine model. The problem is that it is inappropriate for management consulting. This is worth discussing because most consultants are quick to conclude that this model is poor without providing a convincing reason. We insult accounting firms for using the hourly rates model purely because we assume that if accounting firms are using it, it can’t be good, or if lawyers are using it, it can’t be good. On the contrary, the billable hours model works well for these two professions. Management Consulting Work  - How The Billable Hours Model Works In the billable hour model, you have a consultant at, for example, Deloitte, who is going to be measured on the…

Consulting Application Process

Case interview examples – McKinsey, BCG, Bain (MBB), Deloitte, etc.

Case interview examples - McKinsey, BCG, Bain (MBB), Deloitte etc. Consulting firms like McKinsey, BCG, Bain (MBB), Deloitte etc. use the case interview process to assess candidates. It is very difficult to be invited to a consulting case interview, especially with McKinsey, BCG, Bain and Deloitte. And it is even more difficult to do well at case interviews without preparing for them properly. And there are a lot of free case interview examples out there, but it's difficult to know where to start. So in this article we have listed some of the best free consulting case interview examples available, in one place. We will cover interactive case interview samples provided by consulting firms, video case interview examples, case books, and materials developed by the team here at FIRMSconsulting. Before we dive into business case examples, we would like to share with you 2 free resources we prepared for you as a gift, based on FIRMSconsulting book on brain teasers and another FIRMSconsulting book on solving business cases and overall consulting case interview preparation. These downloads include 20 brain teasers including explanations on how to approach solving each of those brain teasers. It also includes a comprehensive estimation cases guide.…

Consulting Application Process

Consulting vs banking: 4 key differences

Consulting vs Banking: 4 Key Differences Many FC members, especially those currently completing an MBA, are considering consulting vs banking. I had a privilege to work in both fields so I can compare the pros and cons of both based on my own experience. Below are some key differences I noticed in being exposed to both environments. Four key differences when comparing consulting vs banking Asset vs resource: The number one difference for me when comparing consulting vs banking is what I call asset vs resource. In consulting a lot is invested in your development and you are treated as a valuable asset to the company. People are the most important asset for consulting firms and while there is the up or out policy pressure, you do have to compete with only top performers on a daily basis, you do feel very clearly that YOU are important and your development as a professional is important for the firm. In banking, you are a resource. Your development is, to a large degree, not important. If you deliver results they will promote you. If you don't they will push you out, or to the side. I have seen VPs being demoted, senior…

Group Case Interview

Consulting Group Case Interview: What to Expect and How to Prepare

Consulting Group Case Interview: What to Expect and How to Prepare As you probably know, the leading consulting firms use case interviews to evaluate job applicants before extending offers. Some consulting firms use a group case interview as part of the evaluation process. If you have a group case interview coming up you are probably thinking, “How can I set myself up to do well?” In this article, we provide some advice on how to succeed in a group case interview. What is a group case interview? A group case interview includes a few candidates being interviewed simultaneously within the same room, with the same interview and with the same case problem. Candidates are usually given copies of the case to read. A group case interview usually takes place after initial 1-on-1 evaluations are completed, like resume screening and the PST. So only the best candidates would generally be attending a group case interview. For example, if you are going through consulting case interview recruitment process during an MBA, consulting firms will usually do first-round interviews on campus. This will allow firms to select the best few candidates to invite for second-round interviews, which may include a group case interview.…

Client Testimonials

Haas MBA pursues BCG ignores case competitions

I asked Michael about the MBA case competition and he said I should forget about it. I did not believe him and he provided a long explanation which went something like this... "To win a case competition requires skills very different from that required to obtain an MBB offer. Case competitions require research, power point, formatting and team work skills which will not be required in a case interview. It will also take up a lot of my time, effect your grades and lead to no meaningful reward." Michael also pointed out that people who win case competitions generally do not get MBB offers. That was a statistic I found hard to believe at the time, especially since so many other major sites were telling me to do it! I am sad to say I did not believe Michael, entered 4 major case competitions, hurt my grades and ended up with no offers. That was the last time I ignored Michael’s advice. For round 2 at MBB, at least I hope to get a round 2, I follow his advice like scripture! Thanks for believing in me Michael. We have published the most useful client feedback. Our commitment to confidentiality…

Client Testimonials

Picking McKinsey over BCG with a 15% lower salary

My Michael Moment occured after I had received offers from BCG and McKinsey and was trying to debate the best choice. BCG offered me 15% larger package overall and a higher signing bonus. I sent Michael a short note on Skype explaining my decision and intimating that the extra money would pay for a nice vacation with my wife. I received a note saying that money was not everything and I should choose the firm which I felt had a partner who could personally mentor me. Michael gave me 4 things to think about: • I would only progress to partner if a partner took me under his wings and mentored me. I should think about which firm was not more likely to do that. • 15% + higher immediate salary translates into very little over a 5 to 10 year career. I should think about the lifetime value of the decision and not the short term value. • A firm that pays more will have a reason for doing that. No one is that generous. I needed to think carefully about the gap for which the money was compensating. Was it training, the type of engagements etc.? • Don’t…