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Old 07-06-2008, 11:17 PM   #11
Freshie!
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Thanks, its good to know that we still stand a chance. Regarding stress, how is the stress like comparing to auditing? Will being an auditor from the start prepare you well for a career as a MC?
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Old 07-21-2008, 12:31 AM   #12
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i think most MCs start out as fresh grads. in fact, jobs as analysts with MCs and ibanks are widely considered as stepping stones to other careers because of the connections that they make and the experience they give you.
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Old 01-09-2009, 12:47 PM   #13
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Default Management Consulting interviews - How to Ace the Case

Hi all,

Just offering some help/advice here. If you're interested in pure strategy (aka management) consulting, you should know that an important part of the selection process is the case interview. The interviewer gets you to converse with him so as to solve a hypothetical business problem. Having done ~80 of these cases by now, I have noticed there is a certain process to solving the case that will yield the best results. With that realization, I now serve with my school's Consulting Club to coach/prepare younger students for such interviews. I have also begun to write a case interview handbook for the Club, outlining how to tackle most cases. Yes, there are many commercially available ones out there, most famously Marc Cosentino's Case In Point. All of them provide business frameworks for tackling problems, but do not show how to apply those in a step-by-step fashion. To address that, I've come up with a 10-step breakdown of the case process, which may wind up being a cornerstone of the eventual booklet, once it's done.

The Major Steps to a Case (aka how a case usually pans out):
1) Listen to interviewer’s setup of the case
2) Ask clarifying qns and/or repeat back to him
3) Optional—chat about that specific industry for 30 secs, usually asking abt the value chain or technical particulars of that product/service. Useful only if you don't know how the industry works at all (it's obscure, or you're just clueless).
4) Take a minute—do up a framework (aka buckets of questions you’d ask to get to the bottom of the problem)
5) Present the framework. Better yet, preface your presentation proper with the following 3 things (optional):
a. Note how many “buckets” of questions you have so they know what to expect
b. Note the key question(s) and/or issue(s) that drove your thinking overall (or for each bucket, if the buckets are vastly different in nature)
c. Bonus: as you run through each concern/question/piece of research listed on your framework, show you can prioritize by noting the important points first and leaving the less important ones last (and explain why each is/isn’t that urgent to look into right away)
6) He’ll probe you on a specific topic. Do whatever he asks and converse to drive towards the solution. The math, if any, and graphs, if any, usually come in here.
7) Make recommendations if they seem called for. Defend them quantitatively and qualitatively if you can. Strive for creative and/or reasonable/plausible arguments.
8) Situate the impact of the solution on the overall big picture (if the solution will probably increase revenue by $1M, what percent increase is that?)
9) Note any extra “out of the box” things you want (what would happen if your simplifying assumptions are off, or extra ideas you wrote down but didn’t have time to go into). This is more rumination, perhaps. And your interviewer may not give you the time to talk.
10) You may be asked to give a 30-second elevator speech. Go! Some tips:
a. Leave out the precise methodology and math and other irrelevant details
b. Quickly restate the objectives of the case
c. Note the main issues/questions that drove your analysis
d. Note what came of those lines of research/questioning that resulted from (c).
e. Note that recommendations/conclusions flow from d.
f. Situate the impact of your recommendations on the bigger picture (What’s a $30M increase in revenues mean? A 10% increase?)
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Last edited by DukeBlue; 01-09-2009 at 12:49 PM. Reason: formating issues with bulleting
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Old 01-09-2009, 02:20 PM   #14
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Hi DukeBlue, thanks for sharing this amazing and comprehensive strategy for acing the interview. I'm even gonna bookmark this page since I might wanna go into MC when I graduate. And you must have heard this many times, but congrats on getting the AB Duke scholarship, it's hard enough for Americans to get it but you're a Singaporean even! It must have been an amazing 4 years at Duke especially with AB Duke.

Last edited by DukeBlue; 04-09-2009 at 04:37 PM. Reason: privacy
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Old 01-11-2009, 12:46 AM   #15
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No problem! If you're interested in knowing about the daily work (not just the "save companies" big picture) of consulting, I could share about my internship on another thread. Also, I'm sure the consulting club of your own university will have materials, resources and support for aspiring consultants.

And wow, how did you know about the AB programme? I've always thought it was obscure and ill-known outside of the US. I myself didn't know it existed (I applied to Duke at a family friend's suggestion). Still, I have to say: judging excellence at such high levels becomes somewhat arbitrary. Interviewing brilliant kids and trying to pick the "best" 15 from among the >20,000 that apply to Duke annually is a very humbling activity. Most of the finalists we interview are amazing in their own way, but we have to cut some of them out anyway. It's what I call the phenomenon of "arbitrary excellence"--that between two closely-matched brilliant candidates, who "wins" becomes almost random. This is why, when I give talks at VJC, I advise students to cast a wide net and not insist only on one specific university--because one's luck "evens out" only over multiple iterations of the (proverbial) coin toss.
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Old 01-16-2009, 11:50 PM   #16
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Yes, if you don't mind it's be great to hear more about your internship, it'll help a lot of people. Was your internship in Singapore? I heard MCs pay interns very well

It's true that unfortunately not many people know about the AB Duke scholarship. I knew about it when I applied to US universities. Unfortunately but expectedly I didn't even get shortlisted for it, but at least now I'm still going to a US university with financial aid. I totally agree that students should apply to as many universities as possible, since it's hard enough to get into just one of them already. I actually applied to more than 10. But I think you can talk about the AB Duke in the US university forum, and since you're an AB Duke yourself and interview potential candidate I'm sure you can say alot about it. I bet it'll also attract more people to try their luck at Duke, which is always good.
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Old 01-17-2009, 09:44 AM   #17
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Sure, I'll post about my experiences in another thread, since it's a distinct topic from this one. In brief, I interned for Bain in Atlanta, USA. And I enjoyed it quite a bit even though there were certainly some boring days and trying moments. Sadly, they didn't make me a job offer at the end, so I interviewed with another firm--BCG--and they're trying to bring me in somehow (more below).

And yes they do pay well (the Top 3 pay roughly the same, with McK paying the least among the top 3 possibly due to their prestige). Still, the pay wasn't why I took MConsulting; I love a challenge, and I also like learning a lot in a very short time. Since I didn't need all that internship money, after paying for my living costs I donated away half the remainder and saved the rest.

Anyway, my US experience may therefore not be the same as consulting in Singapore. In fact, I'd very much like to hear from Asia-based consultants on what it's like in Asia, since I've heard consulting in the West and the East are very different animals. I'm interested to know about consulting in Asia because I may wind up consulting in Singapore rather than the US (where I would've preferred to start working). BCG had hoped to hire me in Atlanta, but has no space (due to bad US economy?), so they're trying to see if BCG Singapore can hire me instead (hopefully the answer is "yes!").
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Last edited by DukeBlue; 03-12-2011 at 01:11 AM.
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Old 03-01-2009, 06:35 PM   #18
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there are oil/petrochem consulting firms like Purvin & Gertz and CMAI.

Also are the engineering consulting firms.
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Old 04-22-2010, 07:38 PM   #19
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HR Consultancy firms provide their clients with HR related advice and studies and analysis. An example will be a large firm hiring a HR Consultant to benchmark its compensation practises and offering suggestions on how to improve. HR Consultnats include Watson Wyatt, Mercer etc.

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Old 05-23-2010, 12:12 AM   #20
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I was just wondering whether a DDP of biz+econs or biz+industrial & systems engineering is more suitable for a future career in MC?

Thanks!
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