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Where else can you learn from ex-McK, BCG et al. senior partners?


Learn from the people who make the final hiring decision in the final round of interviews.

Consulting case interview

Defensive Case Interviews

Defensive Case Interviews As some of our clients and members are preparing for case interviews I wanted to offer some perspective. Let’s begin by acknowledging that conducting a case interview is not a pleasant experience for an interviewer. It is not why people become strategy consultants. The greatest case interviewer does not necessarily become an EM, let alone a partner. When a consultant is being assessed every few months, their phenomenal case interview skills will not save them from mediocre engagement feedback. Running a case interview is not what the consultant wants to do. It is not why a consultant is primarily rewarded and promoted. The very best consultants are unlikely to be conducting interviews. They would be with clients. Interviews take consultants away from engagement teams and away from clients. No client ever uttered the words, “I respect Amy as a consultant because she took 2 days away from my study to fly to Boston to conduct MBA interviews.” To a client, having their consultant engaged in interviews is a distraction and a cost they do not want to bear. Consultants are tired. Consultants are behind schedule. Consultants are overworked. They are overwhelmed. Consultants do not have sufficient time…

Consulting case interview

Defensive Case Interviews As some of our clients and members are preparing for case interviews I wanted to offer some perspective. Let’s begin by acknowledging that conducting a case interview is not a pleasant experience for an interviewer. It is not why people become strategy consultants. The greatest case interviewer does not necessarily become an EM, let alone a partner. When a consultant is being assessed every few months, their phenomenal case interview skills will not save them from mediocre engagement feedback. Running a case interview is not what the consultant wants to do. It is not why a consultant…

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Consulting case interview

Case interview coaching and training to break into McKinsey, BCG, Bain, Deloitte, et al.

Case interview coaching and training to break into McKinsey, BCG, Bain, Deloitte, et al. Break into McKinsey, BCG, Bain, Deloitte, et al. by using a structured case interview coaching and training process, learning from ex-partners, and working with ex-MBB coaches. We help aspiring graduates, young professionals, and experienced hires prepare for their job interviews with the world's major consulting firms. We place a specific focus on preparing for case interviews with McKinsey & Company, Boston Consulting Group (BCG), and Bain & Company. However, if you are targeting a different firm, please raise it with your coach. There are a number of very good firms that are, in some ways, better than MBB for their specialization. However, generally, if you are prepared for MBB, you are prepared for interviews with most consulting firms. The case interview is the hardest interview you will do in your life. And there are a lot of things you don’t know that you don’t know. The only way for you to know the things you don’t know is to have access to experienced case interview coaching, guidance, and training. It will help you: - identify and fix your weaknesses - highlight your strengths - learn what to say and not…

Consulting case interview

Case interview coaching and training to break into McKinsey, BCG, Bain, Deloitte, et al. Break into McKinsey, BCG, Bain, Deloitte, et al. by using a structured case interview coaching and training process, learning from ex-partners, and working with ex-MBB coaches. We help aspiring graduates, young professionals, and experienced hires prepare for their job interviews with the world's major consulting firms. We place a specific focus on preparing for case interviews with McKinsey & Company, Boston Consulting Group (BCG), and Bain & Company. However, if you are targeting a different firm, please raise it with your coach. There are a number of very…

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Brainteaser

5 Interview brain teasers with answers

5 Interview Brain Teasers with Answers Interview brain teasers are puzzles or riddles that interviewers sometimes use to assess a candidate's problem-solving skills, creativity, and critical thinking abilities. What are interview brain teaser questions? Brain teaser interview questions are puzzles or logic problems that are used during job interviews to assess a candidate's problem-solving skills, creativity, critical thinking, and ability to think outside the box. These questions are usually designed to be challenging and don't have straightforward answers. Some examples of brain teaser interview questions include: How many gas stations are there in the United States? You have a 3 gallon jug and a 5 gallon jug. How can you measure out exactly 4 gallons of water? A farmer has 17 sheep and all but 9 die. How many are left? What is the next number in this sequence: 2, 4, 8, 16, 32, ... A man is pushing his car along a road when he comes to a hotel. He shouts, “I’m bankrupt!” How can this be? You have two ropes that burn for exactly one hour each. How can you measure 45 minutes? A man has to get a fox, a chicken, and a sack of corn across…

Brainteaser

5 Interview Brain Teasers with Answers Interview brain teasers are puzzles or riddles that interviewers sometimes use to assess a candidate's problem-solving skills, creativity, and critical thinking abilities. What are interview brain teaser questions? Brain teaser interview questions are puzzles or logic problems that are used during job interviews to assess a candidate's problem-solving skills, creativity, critical thinking, and ability to think outside the box. These questions are usually designed to be challenging and don't have straightforward answers. Some examples of brain teaser interview questions include: How many gas stations are there in the United States? You have a 3…

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Career

How to forgive yourself

How to forgive yourself I work with many senior clients. Executives at major banks, managers, principals, partners at consulting firms, managers and above at large tech companies, entrepreneurs, etc. Because StrategyTraining.com and the programs within our mentoring programs already have very thorough skills training, our mentoring 1:1 calls are often focused on implementation. And implementation requires removing all obstacles that are keeping clients from getting results. One emotion that I find causes the most damage to clients’ lives is a feeling of guilt and an inability to forgive themselves. Here is a video I recently created on how to forgive yourself. https://youtu.be/VCUmnLDi3kI Star Wars has a lot to teach us about life. I watched every movie the first time over the last few weeks. In Star Wars, you can see a repeating pattern of the Jedi blaming themselves for failure and punishing themselves (knowingly or unknowingly) for it. And, at the same time, abandoning people who need them. Obi-Wan Kenobi went into exile after he “failed” Anakin Skywalker. Anakin Skywalker went to the dark side because, among other things, he couldn’t forgive himself for allowing his mother to die. Yoda, the head of Jedi counsel, thought it was ok for him to punish himself and go…

Career

How to forgive yourself I work with many senior clients. Executives at major banks, managers, principals, partners at consulting firms, managers and above at large tech companies, entrepreneurs, etc. Because StrategyTraining.com and the programs within our mentoring programs already have very thorough skills training, our mentoring 1:1 calls are often focused on implementation. And implementation requires removing all obstacles that are keeping clients from getting results. One emotion that I find causes the most damage to clients’ lives is a feeling of guilt and an inability to forgive themselves. Here is a video I recently created on how to forgive yourself. https://youtu.be/VCUmnLDi3kI Star Wars has…

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Consulting Application Process

Case Interview 101 – Management Consulting Interview Guide

Consulting Case Interview 101 – Management Consulting Interview Guide In this post we are going to cover foundational things you need to know to prepare for consulting case interviews. Case interview is a type of interview consulting firms use to select consulting candidates. Case interviews help consulting firms test candidate's analytical abilities as well as FIT, including leadership abilities. This guide includes beginner information as well as some in depth information on how to prepare for the consulting case interview. What is a case interview? A case interview is a specific type of job interview used by consulting firms to test person's abilities and fit. Case interviews are among the hardest job interviews and focused on testing both "soft" skills such as communication and "hard" skills such as problem-solving skills. Case interviews usually last 30-45 minutes each and often involves multiple interviews on the same day. Case interviews are modeled to test the type of skills consultants need during actual projects, such as an ability to solve difficult problems, deal with large amount of data, being able to be likeable and build good relationship with clients. So succeeding in a case interview is an indicator that someone will likely be…

Consulting Application Process

Consulting Case Interview 101 – Management Consulting Interview Guide In this post we are going to cover foundational things you need to know to prepare for consulting case interviews. Case interview is a type of interview consulting firms use to select consulting candidates. Case interviews help consulting firms test candidate's analytical abilities as well as FIT, including leadership abilities. This guide includes beginner information as well as some in depth information on how to prepare for the consulting case interview. What is a case interview? A case interview is a specific type of job interview used by consulting firms to…

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Consulting case interview

Joining McKinsey as an experienced hire is not always a step up

Joining McKinsey as an experienced hire is not always a step up Are you an experienced hire, preparing for consulting case interviews?  If yes, this article may open your eyes to something very important. My name is Kris Safarova. I was recognized among World's Top 30 Management Professionals for 2023 along with Tom Peters, Philip Kottler, James Collins, and Gary Hamel. If you are an experienced hire, you need to keep in mind that when joining McKinsey, BCG, or a similarly top-tier firm, many applicants, especially senior applicants, will take a salary cut. It may not be the majority but it's a sizable minority. A CPG (also known as FMCG) SVP coaching client once wanted to apply to McKinsey. She would have joined as a senior associate, and possibly, and this was a stretch, as an engagement manager.  When we pointed out her likely McKinsey salary, and what she would lose in her stock options, it was a tough pill for her to swallow.  It was even worse when we showed her, on LinkedIn, the levels at which engagement managers joined her CPG employer.  They were all at a level below her.  She was giving up a lot if she left.…

Consulting case interview

Joining McKinsey as an experienced hire is not always a step up Are you an experienced hire, preparing for consulting case interviews?  If yes, this article may open your eyes to something very important. My name is Kris Safarova. I was recognized among World's Top 30 Management Professionals for 2023 along with Tom Peters, Philip Kottler, James Collins, and Gary Hamel. If you are an experienced hire, you need to keep in mind that when joining McKinsey, BCG, or a similarly top-tier firm, many applicants, especially senior applicants, will take a salary cut. It may not be the majority but it's…

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Consulting case interview

Case Interview Prep Myths

Case Interview Prep Myths There are ten myths surrounding consulting case interview prep process that are important to recognize. Much of this advice is expanded in The Consulting Offer where we teach participants in more depth why these misconceptions exist and how participants can increase their chances of succeeding in consulting case interviews. #1 The more unique your profile, the easier it is to network with associates and recruiters from consulting firms. This is a myth because experienced hires, by definition, have an unusual profile. In a pool of case interview applicants, experienced hires tend to stand out, not only are there fewer of them, but also because they have about seven years of experience. In some instances, there may be case interview applicants who are just one level below that of an executive at a major company. It is logical that candidates with such unique profiles will need adjustments to a typical case interview prep process. This unique profile can have the opposite of the desired effect because you may not fit the typical mold or template that recruiters are trained to look for.  First-stage resume reviewers at major consulting firms are usually junior consultants or recruiters and base…

Consulting case interview

Case Interview Prep Myths There are ten myths surrounding consulting case interview prep process that are important to recognize. Much of this advice is expanded in The Consulting Offer where we teach participants in more depth why these misconceptions exist and how participants can increase their chances of succeeding in consulting case interviews. #1 The more unique your profile, the easier it is to network with associates and recruiters from consulting firms. This is a myth because experienced hires, by definition, have an unusual profile. In a pool of case interview applicants, experienced hires tend to stand out, not only…

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Management Consulting

Start Here with Case Interviews

We use ex-McKinsey, BCG et al. partners to prepare you for case interviews at the most elite consulting firms. We are the only firm worldwide using ex-partners. We do this because we believe only partners who make the final hiring decision in the final round case interview should be training you. My name is Kris Safarova and I am the CEO FIRMSconsulting.com. I work with a network of eminent ex-McKinsey, BCG et al. partners, like Kevin, Bill, Michael and many others who produce all the content on the site. Since 2010, when FIRMSconsulting.com was founded, I have assembled a universe of digital platforms teaching case interviews and business strategy. Our goal is not only to get you into McKinsey but to help you succeed far beyond the firm. We see McKinsey and BCG as mere stepping stones and while we focus on case interviews, we use ex-partners to equip clients with the broader thinking skills to solve mankind's toughest problems. [bctt tweet="I have noticed one thing in common with everyone who either comments on FIRMSconsulting.com or our case interviews podcast channel which is ranked #1 in the world for case interviews: everyone is unsure of what to do and/or starting…

Management Consulting

We use ex-McKinsey, BCG et al. partners to prepare you for case interviews at the most elite consulting firms. We are the only firm worldwide using ex-partners. We do this because we believe only partners who make the final hiring decision in the final round case interview should be training you. My name is Kris Safarova and I am the CEO FIRMSconsulting.com. I work with a network of eminent ex-McKinsey, BCG et al. partners, like Kevin, Bill, Michael and many others who produce all the content on the site. Since 2010, when FIRMSconsulting.com was founded, I have assembled a universe…

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Networking

Guide to FIRMSconsulting Content

We produce an extensive list of podcasts, books, videos, slides and other media. This content guide can help you navigate your way through and build your career development plan. It’s helpful to remember that a leader gets things done. Therefore, always think about how to implement your ideas. We offer 6 services: Books—use in conjunction with video training programs to quickly grasp core skills. The Strategy Journal Succeeding as a Management Consultant The Strategy Engagement Marketing Saves the World Mavis Turquoise Eyes Slides—use our curated editable studies, tools, templates, proposals and letters to significantly reduce the time it takes to generate results, lower your costs and improve the quality of your work. Videos—gain mastery of core concepts to ensure that you solve the problem, implement the solution and bank the benefits. Coaching—to avoid roadblocks and trial-and-error, you can book 1-on-1 advice sessions in which a partner will evaluate your plan and help you develop a bespoke career strategy and solution. This is subject to availability and your admittance to the program. Coaching— Eligible to apply for 1-on-1 coaching only if referred by a prior coaching client. We do not accept applications without a referral. These are the longer coaching programs…

Networking

We produce an extensive list of podcasts, books, videos, slides and other media. This content guide can help you navigate your way through and build your career development plan. It’s helpful to remember that a leader gets things done. Therefore, always think about how to implement your ideas. We offer 6 services: Books—use in conjunction with video training programs to quickly grasp core skills. The Strategy Journal Succeeding as a Management Consultant The Strategy Engagement Marketing Saves the World Mavis Turquoise Eyes Slides—use our curated editable studies, tools, templates, proposals and letters to significantly reduce the time it takes to…

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Consulting job applicants: 4 best case interviewees we ever trained

Consulting Job Applicants: 4 Best Case Interviewees We Ever Trained In this article, we will share the key lessons of the top 4 consulting job applicants we trained, as measured purely by their consulting interview skills. A consulting job applicant who was the first person in her country, and university, to join McKinsey At #1 is Sanda, an undergraduate from one of the poorest countries in South East Asia who barely spoke English. She was the first in her family to attend university, a university without a website, and became the first person in her country, and university, to join McKinsey. So what distinguished Sanda from other consulting job applicants we trained? First, she watched the videos so carefully that she could recall and apply all key concepts during her 1-on-1 consulting case interview coaching. Just how efficient was Sanda? We only did 4 hours of case interview coaching before she received her offer! That is just 240 minutes of one on one case interview training or half a season of the Big Bang Theory. Sanda clearly identified her weaknesses and requested help. For example, one of her consulting job interviews was in a luxurious restaurant, and she never been…

Consulting Job Applicants: 4 Best Case Interviewees We Ever Trained In this article, we will share the key lessons of the top 4 consulting job applicants we trained, as measured purely by their consulting interview skills. A consulting job applicant who was the first person in her country, and university, to join McKinsey At #1 is Sanda, an undergraduate from one of the poorest countries in South East Asia who barely spoke English. She was the first in her family to attend university, a university without a website, and became the first person in her country, and university, to join…

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Business terms glossary – A to Z

Business Terms Glossary - A to Z If you’re new to business, you may hear a lot of words and phrases that you do not know and that are not well (or are not) defined in a standard dictionary. Our business terms glossary will explain some of the meanings of the most commonly used business terms. If you are a Premium member or an FC Insider, you know that many key business terms are used throughout our programs and other resources (e.g. books). While they are sometimes explained when they are used, this page is intended to capture most of the common business terms as well as their definitions in one location for ease of reference. Our glossary of business terms provides definitions for common terminology and acronyms in business plans, finance, consulting case interviews, accounting, and other aspects of a small, medium and large business. We hope you will find this helpful and we will continue to add to this page as we think of more business terms to include. BUSINESS TERMS TO KNOW: Here are some of the fundamental business terms you should know. Business terms that we felt were especially important to know are marked with "key business…

Business Terms Glossary - A to Z If you’re new to business, you may hear a lot of words and phrases that you do not know and that are not well (or are not) defined in a standard dictionary. Our business terms glossary will explain some of the meanings of the most commonly used business terms. If you are a Premium member or an FC Insider, you know that many key business terms are used throughout our programs and other resources (e.g. books). While they are sometimes explained when they are used, this page is intended to capture most of…

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Consulting Application Process

8 Best Free Business Case Examples in 2023 (McKinsey, Bain, BCG, Deloitte etc.)

Business Case Example: The 10 Best Free Examples in 2023 (McKinsey, Bain, BCG, Deloitte etc.) The Consulting Offer within our Premium membership is, by far, the best way to prepare for case interviews. However, you may be just starting your case interview preparation and not ready yet to commit the resources, time, the effort that is required for serious preparation. So you may be looking online for a business case example to practice with and dip your toe, so to speak, to see if pursuing consulting is even of interest to you. Or it may be the case that you, just like a large number of FIRMSconsulting members, are an executive or a manager outside of consulting, interested in developing problem-solving skills. If so, you may be searching for a business case example/business case analysis example to start honing your skills. If so, this article will also be helpful to you. 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…

Consulting Application Process

Business Case Example: The 10 Best Free Examples in 2023 (McKinsey, Bain, BCG, Deloitte etc.) The Consulting Offer within our Premium membership is, by far, the best way to prepare for case interviews. However, you may be just starting your case interview preparation and not ready yet to commit the resources, time, the effort that is required for serious preparation. So you may be looking online for a business case example to practice with and dip your toe, so to speak, to see if pursuing consulting is even of interest to you. Or it may be the case that you,…

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Physics Skills in Business: 3 Case-Interview Concepts I Learned From Physics

Physics Skills in Business: 3 Case-Interview Concepts I Learned From Physics Physics has been defined as the study of the laws of nature, in all their broad glory! In contemporary physics curricula, students are supposed to study mechanics (descriptions of motion, generally), electricity and magnetism (which are two sides of the same coin), and even quantum particles (the unimaginably small constituents of matter as we know it). Yet a deeper understanding of “physics” typically emphasizes that analogous patterns exist across different natural phenomena -- for example, the equations that describe a gravitational force and an electrostatic force are written identically, just with different letters. Due in part to this idea that regularities can be found in seemingly disparate fields, physicists find themselves in careers that range from basic research science to patent law, and even jobs like banking. Analyzing the world from the perspective of physics has prepared me, in some ways expected and others unforeseen, for a career in consulting. More than this, some of the most essential, core business concepts to which I was exposed while studying for case interviews first made their way into my mind during my physics education. Today, I’ll discuss just three. 1st Concept I…

Physics Skills in Business: 3 Case-Interview Concepts I Learned From Physics Physics has been defined as the study of the laws of nature, in all their broad glory! In contemporary physics curricula, students are supposed to study mechanics (descriptions of motion, generally), electricity and magnetism (which are two sides of the same coin), and even quantum particles (the unimaginably small constituents of matter as we know it). Yet a deeper understanding of “physics” typically emphasizes that analogous patterns exist across different natural phenomena -- for example, the equations that describe a gravitational force and an electrostatic force are written identically, just…

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The Fine Art of MBA Application

The Fine Art of MBA Application With nine (9) fully-funded offers, 5 out of which also included monthly stipends, from fourteen (14) applications to top 10 – 50 MBA programs in the US and Canada, I have learned that business schools' MBA application is a fine art that should be honed. If you are not new to Firmsconsulting, you will have heard Michael talk about how networking isn't different from dating. The same is true here. Now, before you call me Casanova (I assure you I am not) who courted fourteen different ladies, let me tell you a story. A story that puts the above in context. MBA Application: my first attempt Late 2018, I had applied to six MBA programs – Harvard (HBS), MIT (Sloan), Michigan (Ross), Toronto (Rotman), Washington (Olin) and Maryland (Robert Smith). I applied to HBS and MIT because I didn’t want to live a life wondering if I could have gotten in (looking back now, I guess I applied for the honor of getting rejected. hahaha). It didn’t take long for me to get a response – NO. Maryland, I suspect, didn’t think I was going to accept their offer after I told them about…

The Fine Art of MBA Application With nine (9) fully-funded offers, 5 out of which also included monthly stipends, from fourteen (14) applications to top 10 – 50 MBA programs in the US and Canada, I have learned that business schools' MBA application is a fine art that should be honed. If you are not new to Firmsconsulting, you will have heard Michael talk about how networking isn't different from dating. The same is true here. Now, before you call me Casanova (I assure you I am not) who courted fourteen different ladies, let me tell you a story. A…

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Mental Math Practice: Round to the Nearest Dollar: Getting the Most “Bang for your Buck”

Mental Math Practice: Getting the Most "Bang for your Buck" In case interviews, you may be asked to undergo mental math gyrations from Minute 1. Consider the following excerpt from this sample case. https://youtu.be/pF1HTYg8Vhg This deluge of information might come as a series of facts, sprinkled throughout the case – or it might arrive after a two-sentence prompt citing a client’s desire to reduce their R&D costs. “[…] All of the R&D facilities and staff are concentrated in the Boston area. There are approximately 2,300 R&D employees and the total R&D costs are approximately $12B per annum. The client has traditionally received 80% of its total revenue ($24B) from drugs to treat heart disease, blood pressure, and liver disease; 80% of the patents on these [three] drugs will expire by 2015, and the company therefore expanded research into adjacent areas in 2010. Not getting satisfactory results, the company expanded the research portfolio in 2012 [emphasis mine].” If you’re given all this information as a trainee, candidate, or interviewee, you’re likely to be experiencing hand cramps in the near future. Yet the interviewer will also expect that the cogs in your mind are turning, too – that is, that they are…

Mental Math Practice: Getting the Most "Bang for your Buck" In case interviews, you may be asked to undergo mental math gyrations from Minute 1. Consider the following excerpt from this sample case. https://youtu.be/pF1HTYg8Vhg This deluge of information might come as a series of facts, sprinkled throughout the case – or it might arrive after a two-sentence prompt citing a client’s desire to reduce their R&D costs. “[…] All of the R&D facilities and staff are concentrated in the Boston area. There are approximately 2,300 R&D employees and the total R&D costs are approximately $12B per annum. The client has…

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Best Consulting Firms To Work For in 2020

Best Consulting Firms To Work For in 2020 Management consulting firms operate across the world and serve basically every industry. And while everyone knows about McKinsey, BCG, Bain and Deloitte, there are many other consulting firms that offer high quality of service and powerful working experience. If you are considering consulting as a career and would like to know what are some best consulting firms you should consider, below are some obvious choices like Deloitte and McKinsey, but also other consulting firms you can consider to join. If you are considering consulting as a career or would like to spend a couple of years in consulting to help you build your skills, consider firms beyond just obvious choices such as MBB (McKinsey, BCG, Bain) and Deloitte. There are many things to consider when determining which consulting firm will be the best fit for you. You need to think about your travel preferences. Some firms will require you to be on the road Monday to Thursday. Others will have plenty of opportunities to almost always put you on projects for clients located in your city. You need to consider which industries you would like to focus on. Industry focus opportunities differ…

Best Consulting Firms To Work For in 2020 Management consulting firms operate across the world and serve basically every industry. And while everyone knows about McKinsey, BCG, Bain and Deloitte, there are many other consulting firms that offer high quality of service and powerful working experience. If you are considering consulting as a career and would like to know what are some best consulting firms you should consider, below are some obvious choices like Deloitte and McKinsey, but also other consulting firms you can consider to join. If you are considering consulting as a career or would like to spend…

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QUESTIONS FOR CONSULTING INTERVIEWS

Questions for Consulting Interviews In providing an answer to the topic of questions for consulting interviews, we will start by urging you to think about the true meaning of a question. After which we will examine the different ways to breakdown questions for consulting interviews, the most popular question categories in each broad bucket with examples, and then conclude with some general advice on how to approach any kind of question for consulting interviews. What is a question? One lesson you will learn as a consultant is the importance of problem definition. So why don’t we take a moment to define the word “question”?  Like many everyday items we take for granted, we assume we know their very meaning/essence until we are asked to define it. So take a pause and define the word “question”. Here is my attempt: I came up with the definition “we ask questions to understand”, but then I quickly realized that such definition does not cater for anyone in a debate trying hard to defend a position, or prove that the other person doesn’t know what he/she is saying. Now here is the definition of question from the Oxford Dictionary: a sentence worded or expressed so…

Questions for Consulting Interviews In providing an answer to the topic of questions for consulting interviews, we will start by urging you to think about the true meaning of a question. After which we will examine the different ways to breakdown questions for consulting interviews, the most popular question categories in each broad bucket with examples, and then conclude with some general advice on how to approach any kind of question for consulting interviews. What is a question? One lesson you will learn as a consultant is the importance of problem definition. So why don’t we take a moment to define…

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What is the McKinsey PEI (Personal Experience Interview)?

What is the McKinsey PEI (Personal Experience Interview)? Overview of the McKinsey PEI In this article, we are covering McKinsey PEI (personal experience interview, also called FIT). McKinsey PEI is not very different from FIT (PEI) portions of the interview in other consulting firms like BCG and Bain. However, there are some unique aspects to keep in mind. We will be covering: Sample PEI questions How is the McKinsey PEI different from other consulting firms Qualities McKinsey is looking for Insights from former McKinsey worldwide strategy practice co-leader and senior partner, Kevin P. Coyne Insights from Ritika Mohan on joining McKinsey Chicago after going through The Consulting Offer V Common McKinsey PEI questions One of the most common mistakes candidates make is not giving enough attention and not investing enough time and effort to prepare for the FIT portion of consulting case interviews. Common McKinsey FIT questions include (and same for other top firms like Boston Consulting Group/BCG, Bain, Deloitte, etc.): "Tell me about the thing you are proud of on your resume" (a question Ritika attempts to answer in this episode). Ritika was our The Consulting Offer V participant. After going through TCO she received an offer from McKinsey…

What is the McKinsey PEI (Personal Experience Interview)? Overview of the McKinsey PEI In this article, we are covering McKinsey PEI (personal experience interview, also called FIT). McKinsey PEI is not very different from FIT (PEI) portions of the interview in other consulting firms like BCG and Bain. However, there are some unique aspects to keep in mind. We will be covering: Sample PEI questions How is the McKinsey PEI different from other consulting firms Qualities McKinsey is looking for Insights from former McKinsey worldwide strategy practice co-leader and senior partner, Kevin P. Coyne Insights from Ritika Mohan on joining…

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Questions about consulting answered

Questions about consulting answered If you are considering management consulting as a career you likely have questions about consulting. In this article, we attempt to answer some of the common questions about consulting. We will keep it very brief as you can get in-depth answers for many of the questions below, and well beyond, in our numerous articles, podcasts, programs, and books. Questions about consulting: The application process What is a consulting job? Consultants are hired as advisors to corporations. They tackle a wide variety of business problems and provide expert opinions, analysis, and solutions for their clients. These problems can be as straightforward as market research and as complex as corporate strategy. Is consulting a good career? As a consultant, you will make a good living. In the short-term, you will get exposure to various businesses and industries. In the long term, it allows you to be solving the most pressing problems for companies. Clients do not hire consultants to solve simple problems. Why would they pay consultants' ridiculous fees? They usually hire consultants to solve the most difficult problems that they themselves cannot solve. How much can you earn as a consultant? Consultants from top firms like McKinsey, BCG,…

Questions about consulting answered If you are considering management consulting as a career you likely have questions about consulting. In this article, we attempt to answer some of the common questions about consulting. We will keep it very brief as you can get in-depth answers for many of the questions below, and well beyond, in our numerous articles, podcasts, programs, and books. Questions about consulting: The application process What is a consulting job? Consultants are hired as advisors to corporations. They tackle a wide variety of business problems and provide expert opinions, analysis, and solutions for their clients. These problems…

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How to network to get consulting interviews

In today’s video we will focus on how to network to help you get consulting interviews and increase your chances to get an offer. So the real question here is how do you network to get a result you want. And the first thing to realize is when we talk about networking to get into consulting we are not talking about networking with a standard definition. For a lot of people networking is a hard sales process. They go into a meeting with a list of things they want and they try to sell person on that. Especially in the West networking is a sales process. And yes networking to get into consulting is still a sales process but you should not hard sell. It's a process where you get the result you want but you do it in a much more professional, cleaner way, as opposed to forcing people to help you and trying to explain why you are valuable. Because this makes you look pretty desperate. And desperation does not work in consulting, or with any elite firms. It just does not help you create the right image. And, in fact, you can argue that in any field…

In today’s video we will focus on how to network to help you get consulting interviews and increase your chances to get an offer. So the real question here is how do you network to get a result you want. And the first thing to realize is when we talk about networking to get into consulting we are not talking about networking with a standard definition. For a lot of people networking is a hard sales process. They go into a meeting with a list of things they want and they try to sell person on that. Especially in the…

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Uncategorized

Our unique case interview preparation approach

Our unique case interview preparation approach Hey, it’s Kris Safarova. And this is Fridays with Firmsconsulting! In the previous episode we discussed 3 foundational skills you need before you should start learning full cases. If you missed it, go and check it out RIGHT NOW as you need those insights to fully benefit from this episode. In this episode we will explain the general case interview preparation sequence you need to follow AFTER you have mastered the 3 foundational skills. And this is based on the 509 clients we have placed into McKinsey, BCG and Bain, which is a 68.9% success rate, the highest in the industry. After you have mastered the 3 foundational skills, the next step is to do very simple profitability cases and only focus on the technique. Ignore speed and communication. Here is an example of such a case. Mary Elizabeth Moss wants to build a lemonade stand in Times Square. But the city of New York wants her to pay a licensing fee, which is quite high. Mary wants to increase her profits. She has come to you for help. Simple right? Don’t start with complex profitability cases such as General Electric wants you to…

Uncategorized

Our unique case interview preparation approach Hey, it’s Kris Safarova. And this is Fridays with Firmsconsulting! In the previous episode we discussed 3 foundational skills you need before you should start learning full cases. If you missed it, go and check it out RIGHT NOW as you need those insights to fully benefit from this episode. In this episode we will explain the general case interview preparation sequence you need to follow AFTER you have mastered the 3 foundational skills. And this is based on the 509 clients we have placed into McKinsey, BCG and Bain, which is a 68.9%…

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Consulting case interview

Case interview math (mental math) tools, formulas and tips

Case Interview Math (Mental Math) Tools, Formulas and Tips Consulting case interview mental math practice is a must as part of one's overall consulting case interview preparation. All management consulting firms, and certainly McKinsey, BCG and Bain, expect candidates to be very comfortable with quantitative data, statistics, and the ability to make decisions and client recommendations based on data. Management consultants at firms like McKinsey, BCG, Bain, Deloitte spend a lot of time working with numbers, charts, calculations, financial models in excel and other math work, often mental math work. So any consulting case interview mental math test, and there are really multiple mental math tests scattered throughout the consulting case interview process is something you have to be well prepared for. This does not mean that you need to have a math degree to have the right level of consulting case interview mental math skills. But you do need to know what is expected of you and you do need to practice mental math a lot. FREE GIFT #1 BONUS TUTORIAL DOWNLOAD 20 Brain Teasers With Answers And Explanations How is consulting case interview mental math different from academic math? Because management consulting is all about solving difficult problems,…

Consulting case interview

Case Interview Math (Mental Math) Tools, Formulas and Tips Consulting case interview mental math practice is a must as part of one's overall consulting case interview preparation. All management consulting firms, and certainly McKinsey, BCG and Bain, expect candidates to be very comfortable with quantitative data, statistics, and the ability to make decisions and client recommendations based on data. Management consultants at firms like McKinsey, BCG, Bain, Deloitte spend a lot of time working with numbers, charts, calculations, financial models in excel and other math work, often mental math work. So any consulting case interview mental math test, and there…

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23 McKinsey, Investments

Session 23: Development Areas, Regional-focus, Corporate Finance-Investments & Partner-style cases Corporate Finance cases elicit the same response in candidates as math does to the average person. Yet, corporate finance cases should be addressed like a math problem. First, a candidate needs to identify the corporate finance issue being tested. Consulting candidates need only focus on two issues: valuation and return-on-investment calculations. In a valuation case either a multiples-method or discounted-cash-flow method is being tested. That said, a candidate will rarely be expected to do the calculation. It requires more finance knowledge than the average candidate needs to know. A candidate should understand how to do the calculation and talk the interviewer through the very, very basic steps. Return calculations are different. Candidates may be tested on these. Return on investment calculations are very simple since all the candidate needs to do is calculate all the returns and all the costs and apply the ROI formula. The challenge for most candidates is first identifying a corporate finance case, then determining ROI must be calculated and finally not double counting costs and revenues for the formula. In our experience, it is more important for a candidate to understand the above and how…

Session 23: Development Areas, Regional-focus, Corporate Finance-Investments & Partner-style cases Corporate Finance cases elicit the same response in candidates as math does to the average person. Yet, corporate finance cases should be addressed like a math problem. First, a candidate needs to identify the corporate finance issue being tested. Consulting candidates need only focus on two issues: valuation and return-on-investment calculations. In a valuation case either a multiples-method or discounted-cash-flow method is being tested. That said, a candidate will rarely be expected to do the calculation. It requires more finance knowledge than the average candidate needs to know. A candidate…

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22 McKinsey, BTO

Session 22: Development Areas, Regional-focus, BTO & Partner-style cases We like BTO cases because it is a great skill of a candidate to extract the strategy issues from seemingly mundane information technology problems. What these cases show is that the outcome of the analyses is completely dependent on the framework used. A framework which only evaluates operating issues will not address the strategy elements and vice versa. We teach candidates to apply a very elegant thought-process to identify which operational issues are essential to support the information technology strategy, and which parts of the information technology strategy are essential to support the corporate strategy. Those three areas sit at the core of BTO cases and are ignored by most candidates. The way to tackle IT issues is to understand that IT problems involve a disaggregated set of data points across the organization over which all parts of the organization have control. It is not like finance where a key set of known personnel control invoices or payments with strict checks and balances in place. Information technology and the data collected cannot be controlled but needs to be governed. The single largest reason candidates fail BTO cases is they ignore the…

Session 22: Development Areas, Regional-focus, BTO & Partner-style cases We like BTO cases because it is a great skill of a candidate to extract the strategy issues from seemingly mundane information technology problems. What these cases show is that the outcome of the analyses is completely dependent on the framework used. A framework which only evaluates operating issues will not address the strategy elements and vice versa. We teach candidates to apply a very elegant thought-process to identify which operational issues are essential to support the information technology strategy, and which parts of the information technology strategy are essential to…

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