CASE INTERVIEW PROCESS

Victor Cheng, MBA CASE

There are 7 primary case interview formats that the major consulting firms use to evaluate
candidates.

You should DEFINITELY be familiar with each of the formats so you don't do poorly in an interview
just because you did not know what to expect.

Here are descriptions and examples of all 7 interview formats:

Format 1: Traditional Candidate-Led Case

In this kind of interview, the interviewer asks you an incredibly ambiguous question (Should we enter
the Latin American market? We're losing money, how do we fix it?) and you need to solve the whole
case from that starting point.

BUT, this is just ONE of MANY case interview formats.

Before I describe the various formats and how they are different, it is useful to point out how the
different formats are SIMILAR.

All the formats test your ability to:

1) "De-construct" a very ambiguous problem into smaller sub-problems that are easier to solve

2) Logically analyze each sub-problem

3) Do maths while analysing these problems (both precise maths and estimation maths)

4) Develop a hypothesis that explains why a client's problem exists and how to fix it

5) Determine what data is needed to prove or disprove a hypothesis

6) Communicate your conclusion in a CEO-friendly style

In the Case Interview Secrets demonstrations, you go through all 6 skill areas in a single continuous
case, naturally flowing from one skill area to the next as the skills listed above also tend to appear
chronologically in that order in a case.

For more on this case type, see the video tutorials available in the members-only section:
http://www.caseinterview.com/login
Format 2: Interview-Led Case (Stop & Go Style)

A variation of the traditional format is what I call an interview-led case. This format is the one that
McKinsey tends to use.

It has two distinguishing features.

1) The INTERVIEWER (not you) determines which parts of the case are important, tells you to tackle a
specific issue at a specific time, and asks you specific question where you are expected to give
specific answers.

In contrast, in the more traditional candidate-led interviews, you decide which questions are worth
asking AND determine answers. For the interview-led cases, the interviewer decides which
questions are worth asking, asks you those questions, and expects you to answer them.

2) The flow of the case is very ABRUPT. If a case has 4 key areas, in a traditional case you would
determine which of the 4 areas is most important, analyze the 1st area, move on to the 2nd most
important area, determine your conclusion and present it.

In the interviewer-led case, the interviewer might ask you which of the 4 areas you think is most
important and why... and then regardless of how you answer, the interviewer will say lets tackle area
4 (even if you thought that was least important).

So in an interviewer-led case, you JUMP AROUND a lot.

Now in an interviewer-led case, you will still be tested on all 6 skill areas. BUT, it happens in a little
more abrupt and artificial way... not always in a naturally evolving sequence.

Here's additional information on this interview format:

https://m255.infusionsoft.com/app/linkClick/134/3f714feb1c35d213/29893953/918a98947d86048b

https://m255.infusionsoft.com/app/linkClick/136/9814314396325e00/29893953/918a98947d86048b

Format 3: The Written Case Interview

In a written case interview, you are given a lot of data in the form of charts and powerpoint slides
(think: 20 - 40 slides).

You are given 2 hours to review all the information and then you are asked to take a test about the
client company.

Bain in certain European offices have used this format on certain occasions.

Again, the written test will typically test all 6 skill areas - but in a written format.

For more on the written case format, look here:

https://m255.infusionsoft.com/app/linkClick/138/e715e73020dbeabd/29893953/918a98947d86048b

https://m255.infusionsoft.com/app/linkClick/140/7df11a9ce48aefc9/29893953/918a98947d86048b

Format 4: The Group Case Interview

Monitor is known for using a group case interview. In this format, you and typically 3 other
candidates are presented with a case and are expected to work together as a team to solve the case.

This format ALSO tests all 6 skill areas and one more... your ability to work in a team in a respectful,
collaborative manner.

Tip: you do well in this case by helping your "competitors" (other candidates) do well, not by
shooting them down.

Here are two articles on this type of interview format:

https://m255.infusionsoft.com/app/linkClick/142/cd32670c7b27b82b/29893953/918a98947d86048b

https://m255.infusionsoft.com/app/linkClick/144/ca2f996fc0b26d12/29893953/918a98947d86048b

Format 5: The Presentation-Only Case

BCG in certain interview rounds in certain offices will use what I call a Presentation-Only case. In
some countries, I am hearing early signs that Bain doing this too.

If you recall the 6 key skill areas that all firms test:

1) "De-construct" a very ambiguous problem into smaller sub-problems that are easier to solve

2) Logically analyze each sub-problem

3) Do maths while analyzing these problems (both precise maths and estimation maths)

4) Develop a hypothesis that explains why a client's problem exists and how to fix it

5) Determine what data is needed to prove or disprove a hypothesis

6) Communicate your conclusion in a CEO-friendly style

In this format, the first 50% of the case is written in that you are presented with a stack of charts or
powerpoint slides that describe the client situation.

Then you are given some time to analyze the case (without an interviewer in the room), and asked to
prepare a 6 - 10 page presentation to present your conclusions.

You are asked to both write the presentation and then actually deliver it.
The philosophy in this case format is it is impossible to do skill area 6 well (communicate your
conclusions) unless you did skill areas 1 - 5 well on your own.

When you present your conclusions, the interviewer(s) will challenge you on everything you say.
WHY did you conclude that? Did you consider X factor? What facts do you use to support your
statement?

They are basically asking these challenging questions to see if you actually did do steps 1 - 5 well
when you were working on your own.

Here's a structure I recommend when creating slides for a presentation in a case interview:

https://m255.infusionsoft.com/app/linkClick/146/1685c8e6d8e3f0c2/29893953/918a98947d86048b

Format 6: The Estimation Question

The next format of case is an estimation question. This type of case ONLY test skill area 3 - your
ability to do maths.

If you add up all the interviews and evaluations you have with an employer, you can expect
approximately 1/6th of that time to be spent on testing your maths skills.

The estimation question is one way this is done.

In this type of question, you are asked to numerically estimate some number - typically the size of a
market (e.g., how many of X product is sold in your country? How many rubber tyres are sold in your
country in a year? How many gallons or litres of gasoline/petrol does a typical filling station pump on
a Saturday?)

Of course it is impossible to provide a precise answer to such a question. Instead, you are expected
to estimate the answer using two things: a) making a few assumptions, b) doing maths.

By the way, this is NOT just some exercise invented to torture candidates like you. These are
questions CLIENTS routinely ask us consultants (or the topic comes up in conversation where you're
just trying to figure out is an opportunity "big" or "small"... and generally if small it's often not worth
the effort to try to get a more precise answer).

Here's one example of an actual McKinsey estimation question:

https://m255.infusionsoft.com/app/linkClick/56/915c333f85037f2c/29893953/918a98947d86048b

Format 7: The Problem Solving Test

This final type of candidate evaluation tool is not really a case. Instead, it is just a math test that tests
general math skills, critical reasoning skills (involving numbers) and data interpretation skills.

McKinsey is most famous for using this type of testing tool. Their test is called the McKinsey Problem
Solving Test (also known as the McK PST).
BCG in one country in Europe (as far as I can tell so far) has just started using something similar -- the
BCG "Potential" Test.

The types of questions on this test are:

a) computation problems: If prices are raised by 15% and costs go up 20%, units sold increase by
15%, what is the company's profit after these changes - basically it's a word problem.

b) data sufficiency / interpretation problems: Based on Chart Exhibit 1, which conclusions are
factually supported... conclusion A, B, C or D ?

Here's my guide on the McKinsey PST:

https://m255.infusionsoft.com/app/linkClick/148/62e92d70c49b019c/29893953/918a98947d86048b

Here's my guide on the BCG's version of the same:

https://m255.infusionsoft.com/app/linkClick/150/084f7ab301414e4c/29893953/918a98947d86048b

Also to practise the maths that is commonly on this test, you will want to use my case interview math
practice tool.

This tool is basically a timed flash card test of common types of arithmetic problems seen on
problem solving tests and in live cases.

Whereas the word problems test your ability to translate words into equations, this tool helps you
improve both your speed and accuracy on the equations themselves.

It also allows you to compare your performance to those of other members and to my own test
scores.

http://www.CaseInterviewMath.com

How to Prepare

So these are the 7 major case types. Now the obvious next question is how to best prepare.

There are two schools of thought on this.

1) Approach 1: "Teach to the Test"

2) Approach 2: Master the 6 skill areas

Approach 1: "Teach to the Test"

In the United States, there is a phrase often used to criticise the US education system for children
between the ages of 5 - 18 years old.

This phrase is "teach to the test". The idea (or criticism depending on your point of view) is to
structure what is taught to children so that all they learn is how to TAKE THE TEST.
For example, rather than teaching children how to think mathematically, the teacher focuses on
teaching the child how to do well on the math test at the end of the year.

The teacher focuses on things like familiarizing the student with time length of the test, the multiple
choice format of the questions, the scoring algorithm (whether or not it is advantageous to guess
when you don't know the answer), and of course at some point teach the actual math concepts that
will be tested.

Approach 2: Master the 6 Skill Areas

The other approach is to just get really, really GOOD at the 6 skill areas.

So rather than just teach the student how to take the math test, the teacher just teaches the student
how to do math, thinking that a student that really knows math should be able to handle any kind of
math test regardless of format.

As you might have guessed, I lean heavily towards the second approach of mastering the 6 skill areas.
Here's why.

The consulting firms, especially in the last 3 years, have been making a LOT of changes to their
recruiting process. Within the SAME firm, offices in certain countries are experimenting with
different formats.

I get hundreds of emails each month from my community members giving me the latest real-time
updates of which firms are using which formats in which countries... and in which offices in those
countries.

It is just exhausting to keep up with all the variations.

At the moment, I am seeing Bain and BCG revamping many of their recruiting processes. For the time
being, McKinsey (interviewer-led), Monitor (group case), LEK (candidate led), Oliver Wyman
(candidate led) seem to have the most stable recruiting processes. But that could change in any
given year.

And while my global network of case interview students spans over 100 countries and I probably find
out about any change FIRST before anyone else, it is STILL hard to keep up.

So my personal recommendation is to spend 80% of your efforts mastering the 6 skill areas, and 20%
specifically familiarizing yourself with, preparing for, and to the extent feasible practicing the specific
case interview format you anticipate seeing given the specific firms you have interviews with.

This provides a good balance that allows you to be prepared for ANY case interview type format or
question you might receive.

Thanks,
Victor Cheng
Author, Case Interview Secrets
www.CaseInterviewSecrets.com