It is interview season for consulting firms. People are writing up cover letters, fine-tuning their resumes, and practicing their cases. This is what I said to a packed room of students.

 

Before the interview

  1. It’s all about curiosity. Great problem solvers (a.k.a. consultants) are curious.  “I have no special talents. I am only passionately curious.” – Albert Einstein
  2. Do the homework about consulting and the firms: WetFeet, Vault, Quora, etc. . . The 3 basic questions consulting firms typically ask: why consulting, why our firm, why you?
  3. Tons of reasons that consulting is awesome for people early in their career. Teams, compensation, potential exits. You get paid to learn. The post-MBA, MBA.
  4. Go to management consulting websites and see what they have to say.  They WANT you to succeed and tell you how to crack their case.
  5. There are 1,000+ pages of free case interview samples online. Definitely skim some of them, don’t overdo it.
  6. At a minimum, watch this video on how a Bain interview is evaluated here.
  7. Don’t reinvent the wheel. Follow the CMC’s advice, attend presentations, talk to former interns. Use informational interviews to your advantage.
  8. Resumes are bait.  Cover letters are bait. Get them to “bite” on your line.
  9. What is the purpose of a consulting case interview? They want to see mental horsepower, ability to build rapport, and see if you are apprenticeship worthy.
  10. Firms want people who are smart, logical, quick-thinking, well-spoken, and engaging.
  11. Alternatively, they DO NOT WANT slow, confusing, dense, garble-mouthed, boring robots.
  12. Can they put you in front of clients; they will bill you out to clients at $250-$400 a hour, and they want people who smell like success.

During the interview

  1. A few case tips: a) Structure the problem, as cleanly (MECE) as possible.  b) Tell them what you are thinking (show your thought process)  c) Identify and confirm / disprove hypotheses d) Listen for cues, and keep the conversation fluid (transitions) e) Summarize as you go; end strong with the conclusion
  2. Have fun cracking the case.  Treat the interviewer as if they were a potential client.
  3. Ask good questions logically, in a sensible order, with transitions, to get to an answer.
  4. Would you pass the airport test? After 8 hours together, would they want to hire you, or strangle you? Crush the case, but also be memorable.Quickly build rapport and credibility, so that if you goof up, they give you a pass.
  5. Learn a few (not all) of the frameworks.  They are just tools – not the answer.  Your cousin should be able to solve the problem in 3 hours with no frameworks,
  6. Do great work, but also stand out (which is tough). Remember, good is predictable. Great varies.

After starting

  1. Understand that consulting is a leverage model: finders, minders, and grinders.  Know what is expected of you at this level, and what “manager-level” looks like.
  2. Be a go-getter. If you are good, people will fight to staff you on their project. Tribe.
  3. Focus on relational power. Be smart, (self) aware, eager, and fun to work with.
  4. New hires should bring energy and clarity – Satya Nadella
  5. There are pro / con of every project and job. Get the most out of it: content, performance, learning.
  6. Yes, there is a difference between Good vs. Great Consultants
  7. It can be tough. Remember Dominic Barton, last global McKinsey MD, failed making partner twice. His first project:analyzing chicken pieces to put into KFC box lunches.
  8. Consultants do a lot of PowerPoint and Excel. Get ready.
  9. Be able to tell a storyExplain things simply and clearly – speak to me as if I were a kid.
  10. Enjoy those consulting dinners and travel.
  11. It’s all about delighting the client. Get referral business. Make them successful. Get them promoted.
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