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Podcast: The importance of influencing the interviewer in a case interview
The majority of soft-issues we deal with in training clients relates to communication: language, dialect, tone, inflection, body language, hand movements, energy levels etc. We can safely say that how you communicate is the pivot on which your offer will rest. That said, far too many resources teach communication as a set of technical/tactical steps that you need to follow to appear “professional”. Unfortunately, that advice fails to address the underlying reasons why communication takes place as it does: a check-list was designed for the average person and no two people are average, nor is it a communications strategy.
In this podcast we will discuss a client who is very good at influencing the way interviewers work with her, and the subtle danger of her approach. A counter-point to this is another candidate who initially completely mismanaged his image, and we discuss the impact of his actions and what happened when he changed.
We then discuss how this is related to case interviews, particularly why many candidates end up “facing” tough interviewers. Counter-intuitively, many times it is the candidate’s fault why this is happening since they are not aware of the impact they have on the interviewer.
Finally, the podcast explains why influencing the interviewer before the case interview is more likely to lead to an offer versus trying to only dazzle the interviewer in the case. Unfortunately, that is where most candidates focus their preparation: how you influence the interviewer will determine how easy, or not, they make the case for you. As we will explain, it is difficult to create a pleasant environment for cases if you focus all your attention on the case and ignore the build-up to the case, where your profile and perception is developed in the interviewers mind. (Editor’s Choice)
Podcast: In Defence of Bain & Company
In numerous podcasts we have explained key weaknesses of Bain: the federal office model, inexcusable weakness in the emerging markets, relatively weak training, US-centered leadership, glaring weakness in Germany, acquisition-driven growth model, strategy flip-flops etc.
That said, we actually sell a very flattering book about Bain and have encouraged more clients to join Bain over McKinsey than vice-versa. In this podcast we explain when it is a good choice to join Bain over BCG or McKinsey. There are no averages in life so this podcast is worth listening to (Editors Choice)
Podcast: Detailed advice and information on the rise of Sub-Saharan offices – Nigeria & South Africa, the rise of African candidates, types of work done in these offices, interview process and challenges faced by candidates, key partners, key clients, significant projects, hiring strategies, recruiting firms used, expatriate strategies and more (Editors Choice)
Podcast: Many candidates indicate that learning to pivot between the McKinsey-BCG approaches is difficult. This podcast explains in extensive detail why the technique we teach is a lot less stressful than standard hypothesis generation. (Editors Choice)
Podcast: The rise of Asian female doctoral case candidates, one of the most important trends in management consulting. This is a large and dynamic group of case candidates who are underrepresented in consulting firms, poorly mentored and largely ignored. Consulting firms can do better to manage them, and should. We explain how and why (Editor’s Choice)
Video: Detailed explanation of solving a case interview and differences between using decision trees and hypotheses (Editor’s Choice)
This is the number one question we receive from the candidates, right at the start of the coaching problem. They all read about the hypotheses-led approach, and assume it is the only way to solve cases. As many know, we teach both, but highly recommend the decision tree approach. We also know how much candidates struggle to identify the key question to be solved in a case. This detailed video, with rich and detailed drawings, and lasting 76 minutes, explains the differences and provides some added guidance. It is an excellent video to watch when you are mid-way through the more complex stages of the case training, when these questions about decision trees, hypotheses, key questions etc are likely to pop up.
Podcast: I did it! I got into a Top 10 MBA program. Why is my resume not working? (Editor’s Choice)
The process of landing an interview and, to some extent, gaining the offer is not at all dependent on what you have simply accomplished in the last 6 to 12 months. Consulting firms look at a track record of success. This podcast outlines a strategy to properly present a résumé. Being technically correct in the formatting and structure of the bullet points is not enough. Read this before spending hundreds of dollars on resume formatting. Poor content cannot be fixed quickly.
Podcast: When Consultants Mislead (Editor’s Choice)
Discusses one of the most common problems for candidates. When consultants are indifferent, unwilling to give bad news or insufficiently informed, they can provide misleading information which costs time and money.
Podcast: Common mistakes made at the analyst, associate, engagement manager, partner and senior partner level (Editor’s Choice)
This long podcast (60 minutes) examines the common mistakes consultants make at each level of their career. I have gone into some detail to explain my own mistakes, and that of former and current colleagues. Some of the advice is counter-intuitive and I have stayed away from generic advice. This will be very useful to aspiring consultants who need to understand what it takes to succeed at each level.
Podcast: How BBM builds relationships and secures prestigious engagements (Editor’s Choice)
Not all BBM engagements begin via a call from the CEO or Chairman of the board. Many do, but life is not that simple. Some, unusually, begin with a call from a middle-manager who does not speak English well. What differentiates BBM from Tier-2 firms, however, is how we handle these calls, understand the deeper problems, and cascade the issues upwards until, when the time counts, we are in front of the board. Most Tier-2 firms receiving the same call would settle to try to sell the middle-manager a $100K project or simply dismiss him as unimportant. BBM uses it has an opportunity to learn.
Podcast: Day-in-the-life of a case leader on a corporate finance engagement (Editor’s Choice)
An earlier podcast discussed a fairly labor-intensive case where we needed to literally roll-up our sleeves to find and extract data. This is the opposite engagement. It is the glamorous engagement all aspiring consultants dream about and imagine consulting is about. In this engagement, we worked for the largest company in the world, in its sector, to understand how to increase its share price. We were based out of The City in London and had to change conventional wisdom about value creation.
Podcast: Another detailed explanation of a consulting engagement (Editor’s Choice)
This podcast discusses a corporate finance engagement for a major Asian manufacturing company which was unhappy with their share price. At this time, the client was under assault from innovative and “cool” products from a major US competitor. We discuss the context, unique challenges of this client and how we went about developing their strategy. Pay close attention to the challenges we faced with the CEO and how we coached him, for his benefit. Tact is essential in management consulting.
Podcast: Should I join BBM where I study or return and join in my home country? (Editor’s Choice)
We have responded to the question below:
“As a person from a big emerging market interested in the long term career in my region, I am thinking about which strategy makes more sense for a person like me: 1) start at BBM in his own country 2) start at BBM in the US, transferring after some time back to his country (to BBM or directly to industry).
I can think of the following pros of the first option: a) better chances for success at BBM due to the absence of cultural barriers, higher growth of BBM in that country b) better exit opportunities c) the earlier opportunity to start building professional network in that country d) better experience at BBM due to higher chance of being staffed on “crown-jewel” clients.
Pros of the second option: a) the prestige of the US experience b) better training c) better experience due to exposure to the American companies which on average are higher quality organizations than emerging market companies.
I think many people would be interested in your opinion on this topic, Michael. A related dilemma that some of my friends have is making a choice between BBM in their home country and Deloitte/PWC in the US. What is better for them assuming they would like to be in their home country in 5-7 years?”
Podcast: I am a Deloitte senior consultant and completing my MBA. Should I go to BCG? (Editor’s Choice)
This is such a great question. The answer is going to surprise many people. Therefore, pay attention to the logic we apply to answer this question, as well as the real examples we will offer. The options are a) going back to Deloitte as a manager, or potentially a lateral move as senior consultant in another country, b) going to industry or c) moving to BCG. The path you want to take is important, and leads to some surprising conclusions.
Podcast: The public sector is arguably the most exciting sector in management consulting (Editor’s Choice)
Far too many candidates think public sector work is boring. In fact, just the opposite is true. Public sector work typically falls into 4 categories: national government, regional government, state-owned-enterprises and state initiatives. This podcast focuses on national government and state-owned-enterprises, and we want to show you that these engagements are among the most eminent, significant, challenging and career enhancing. We will discuss specific engagements (scrubbed for detail) and why they are in many ways more exciting than private sector projects.
Far too many candidates think public sector work is boring. In fact, just the opposite is true. Public sector work typically falls into 4 categories: national government, regional government, state-owned-enterprises and state initiatives. This podcast focuses on national government and state-owned-enterprises, and we want to show you that these engagements are among the most eminent, significant, challenging and career enhancing. We will discuss specific engagements (scrubbed for detail) and why they are in many ways more exciting than private sector projects.
Podcast: Why is my prior consulting experience not giving me an advantage when applying to BBM? (Editor’s Choice)
Unfortunately, this is a common question and dilemma for many candidates. They try desperately to gain experience at Deloitte or LEK, hoping this will offer an advantage when applying to the big four. In fact, this strategy is encouraged by many misguided MBA counselors and well-meaning friends who do not know any better – but should. It is a bad strategy. You would be better off having no consulting experience than the wrong type of experience. This podcast explains why.
Podcast: The power and privilege of management consulting (Editor’s Choice)
I was in my lower 20′s when I was given my first engagement to interact directly with the COO of a major European multi-national. There is no greater privilege in the world than gaining permission to sit across the table of an executive officer of a firm, and have a discussion about his operating model and its cost implications. With that privilege, and power, comes enormous responsibility. In today’s podcast I want to discuss this unique aspect of management consulting. No other industry in the world, not even investment banking, affords talented professionals so much responsibility at such young ages.
Podcast: The true impact of management consulting (Editor’s Choice)
Just about every potential candidate we screen talks about the impact management consulting has on major corporations and governments around the world. Indeed, that remains an alluring reason to join BBM. In this podcast, I wanted to discuss the true impact of management consulting, by reflecting on one of my own projects, and discussing the real power and responsibility of management consulting. This will help you understand why cases are so tough.
Podcast: There are only two other books worth buying to understand management consulting (Editor’s Choice)
Our book, focuses on the day-in-the-life view on management consulting. There are two other books I would strongly urge you to read. “McKinsey’s Marvin Bower” by Elizabeth Haas Edersheim is the single most important book to read. In fact, many McKinsey consultants should read this book as well.“The Mind of the Strategist” by Kenichi Ohmae is the other. Both these books are with me all the time. In this podcast we discuss why you should read these books, and avoid the McKinsey Mind, Way series.
Podcast: A day-in-the-life-of a management consultant and consulting partner (Editor’s Choice)
Most people have a romanticized view of management consulting work. Usually wrong. I wanted to talk about my typically day/week as an associate (MBA level) consultant, and particularly how that changed as I moved up the ranks to the partnership. It will help you understand why mental math is so useful, as well as the extreme stresses of the job.
Podcast: The fatal mistake many candidates make when they are asked to brainstorm in a case (Editor’s Choice)
Consulting interviewers are ALWAYS testing for poise, confidence, structure and logic in your response. Most candidates do this well everywhere – except when it comes to brainstorming. Learn how “not” to brainstorm.
Podcast: Placing the impossible candidate (Editor’s Choice)
Here we talk about the unusual tactics we used to place a musician into BBM Europe who had just a master’s degree in music (from an élite institute) and 4 years of experience in the Arts. Lacking a business background she decided to make the transition after her marriage. The tactics are not surprising, but the execution is.
Podcast: What are the, realistic, exit opportunities from BBM? (Editor’s Choice)
This is an important podcast because it explains how a consulting career should fit into your overall career planning. Most candidates want to work at BBM because everyone says they should. They also think they know the exit opportunities but have a very weak, and sometimes fantasized, view on exit options.
Podcast: The Culture of Management Consulting (Editor’s Choice)
This is a topic which is very dear and close to me. In fact, it is why we started Firmsconsulting and run it the way we do. Very, very few people truly understand the culture of management consulting. Many existing consultants also struggle to understand the culture. Consultants are professionals, not business people. I would strongly urge you to listen to this podcast.
Podcast: Drowning in competitive advantages – how candidates should prioritize their time and preparation, as well as distinguish between useful and weak material.
Podcast: When candidates use weak assumptions, to erroneously defend their actions and how this is a clear reflection on business judgement.
Podcast: Why the technique used by 60% of candidates in our Spanish rose market share case is guaranteed to upset at least 20% of all interviewers.
Podcast: Lots of candidates leave it to the interviewer to determine the energy levels, tone and mood of the call. That is a bad idea. In our experience, the best candidates always bring a light mood to interviews. Seriousness, can hurt you as it is confused for anxiousness.
Podcast: Amazing success story of a PhD candidate in the US who networked with executive committee members – you read that correctly – to land interviews, despite some big odds – weaker school, no prior relationships etc
Podcast: We present a clever technique to treat graphs as “maps” when reading them. Corporate Finance candidates will like this. This podcast comes with the accompanying graph to help explain the concept.
Podcast: Bonus versus salary resumes, is a very simple test we do on resume. This podcast explains the test. We basically look at whether or not a bullet point explains an action which earned you a salary or would have resulted in a bonus. The latter is vital and the former should be purged from your salary.
Podcast: Building of our technique to develop hypotheses, this podcast explains a clever way to generate creative podcasts. In essence, the podcast will be useful to candidates who have already seen how we brainstorm and generate hypotheses, since this podcast expands on that thinking.
Podcast: The economic impact of poor business judgement, is a topic we manage every day. Each time a client makes a poor “common sense” decision we need to explain both the potential reputation and economic damage done to the firm. The former is well-known, but the latter is less known but just as important.
Podcast: 2 key differences in a Bain fit interview versus McKinsey PEI.
In looking through our database of over 240 former clients and speaking to Bain partners we know, we see two unique ways a Bain fit interview differs from a McKinsey PEI. The first relates to way in which you interact with the interviewer as you deliver your response, and the second relates to a very specific attribute that Bain seeks in your fit responses. Both differ substantially from a McKinsey or BCG interview. In fact, EVERY single client we placed at Bain strongly displayed these two characteristics. It is uncanny how close a correlation exists.
Podcast: Analyzing a clients hypotheses on a US postal service case
This podcast answers the questions raised below, by a client trying to understand how to develop hypotheses in a fairly difficult case. The case looks at ways to increase the US Postal Services market share and profitability. The client has graciously allowed this one detailed response and his notes to be shared in our public section.
“A big overarching question I have with the answer first approach is I don’t know if my initial hypothesis should be broad (in which case they cannot be tested with data unless the hypotheses are first refined and narrowed, so I could only ask what areas I would explore to do that) or alternatively to make my initial hypotheses narrow and precise (in which case I can ask for data to test them but if my hypothesis are wrong then I will be stuck). Any thoughts?”
Podcast: What is analytical thinking?
The first podcast discusses a common challenge new consultants face: how to show strong analytical skills on an engagement. Here I discuss one of my earlier engagements as a principal where I managed a very introverted lawyer. Despite her non-quantitative degree, reserved demeanor and being placed on a piece of work which was not, at first, open to much creativity, she developed an eminently analytical way to solve a significant problem impacting the entire engagement. This is probably one of the most concise, tailored and innovative pieces of analyses I had ever seen in my career. What makes a consultant analytical, is not the type of work that lends itself to analytical reasoning, but the way you approach what may seem to be a mundane problem. In fact, no sector or engagement is boring if examined appropriately.
Podcast: How to read graphs
Reading graphs is a perennial problem for many candidates. Yet, the problem is not the interpretation of the graphical data itself. Rather, it is knowing what to do with that data once you have interpreted it. This podcast introduces a simple 4-step process we introduce for a Yale doctoral client, and a technique called the One-Sentence-Test which we again developed for the same client. The improvement in her answers warrants sharing this technique.
Podcast: Evaluating a consulting firms training
Too often clients ask the wrong questions when it comes to assessing training at consulting firms: do smaller offices have poorer training, should I attend training as soon as I join, does BCG have better training than Bain etc. When considering training you need to both consider formal and informal training. As we show, formal training is very useful, but not at all for the hard/technical skills it purports to impart on attendees. Informal training, also known as training on an engagement, is most effective when consultants can practice under diverse conditions. In other words, the more you travel and work with foreign teams, the better will be your training. Some firms encourage more global staffing and others far less. That counts.
Podcast: The struggles tier-2 consultants face when joining McKinsey, BCG et al
Clients we place into McKinsey etc from the so-called tier-2 firms like Booz, Deloitte, KPMG etc always think they will struggle most with the analytic and other technical elements. We see a flurry of activity, and anxiousness to master story boarding model building, brainstorming and hypotheses development. Our advice to these clients is that this should be the least of their worries.
The harsh reality is that they have been pre-wired to think about the wrong priorities on soft-issues, and these intangible areas cause more trouble than they could imagine. Many find that very difficult to understand, so here are some stories based on our own clients’ experiences demonstrating how the soft issues could betray your ambitions.
Podcast: Declining an offer received from the Bain CEO
It is indeed a rare moment when the Worldwide Managing Partner of Bain calls a client to encourage him/her to accept an offer. We have had similar situations happen on a handful of occasions to clients. It is an accomplishment and should be celebrated. That does not mean the offer should be accepted.
In this podcast, we want to discuss the reasoning process we used with this client to help them understand how to decline the Bain CEO and accept BCG in this particular case, or decline the BCG Managing Partner and accept McKinsey in another case etc. If you are lucky enough to have multiple offers, and extremely fortunate to have the Worldwide Managing Partner call you, you need to be aware of the right elements to consider when accepting an offer. It is not as straight-forward as it looks, and the wrong choice could lead to less meaningful opportunities in the medium to long-term.
Podcast: Arrogance is not the same as confidence
Many candidates confuse arrogance and confidence. To a large group of aspiring management consultants, the only way to prove confidence is by demonstrating arrogance. They are not the same, and arrogant behaviour does not go down well with interviewers. Our experience also shows that candidates from the so-called leading schools like Harvard, Yale, Stanford, Ross, Wharton etc, at least the one’s who are our clients, are not at all arrogant. In fact, some of our most accomplished candidates – Rhodes Scholars, Olympians, World Championship medalists, MacArthur Fellows, Fulbright Scholars – are quite possibly the most delightful people to engage in a conversation. They are just really, really nice.
This podcast is not about verbal cues to show confidence. It is rather an analyses of why certain candidates substitute arrogance for confidence, and why they should not. We have been misled by the media, at least Hollywood, to imagine confidence is a zero-sum interaction where one party feels great and the other must feel terrible. Confident people inspire, motivate and bring out the best in their peers. This podcast uses lots of examples showing how to display confidence and not arrogance.
Podcast: How Indian MBA candidates jeopardize their long-term chances during internship interviews
This is an important podcast. Many Indian MBA candidates, those without permits to remain in the US post their studies, follow a dangerous strategy for their internship interviews. This podcast offers a very simple but highly effective strategy to ensure candidates keep themselves in the running for consulting offers. Moreover, keeping residency in the US is a vital prerequisite to maintain a candidates “risk profile” and this podcast again offers some ideas.
Podcast: Do you want to work for McKinsey strategy or McKinsey?
Far too many candidates demonstrate poor knowledge of consulting by insisting that they want to work for McKinsey strategy and not operations or BTO. This is a flawed strategy which will only hurt their chances in the short, medium and long-term. This podcast explains why and how to compensate for this misunderstanding.
Podcast: What do consulting firms mean when they say, “get more experience?”
Many candidates are declined with the suggestion to gain more work experience. Unfortunately, candidates take this feedback at face value. This podcast explains what this feedback means and suggests a vital shortcut to fix this problem. Hint, it does not require work experience at all.
Podcast: Consulting values in action from an unlikely source
An hour ago I ran a screening call for case coaching with a candidate I will call Hector from Deloitte, let’s assume the Santiago office. The student was at a very élite school, I will call Wharton. This tiny Deloitte office had for the first time offered to pay for an employee’s MBA studies – a huge investment for them. McKinsey was now aggressively trying to recruit the candidate and he was on the brink of pursuing this. I was extremely proud of the way Hector reacted when, upon learning of the source of his funding and obligations, I immediately refused to conduct the screening call because it was not in his best interest. In these moments, we get to see tomorrow’s leaders forged.
Podcast: Common Mistakes when Networking and Building Relations
Tackles some the recent problems we have seen with candidates. We have tried to stay away from conventional advice and address issues not commonly discussed.
Podcast: How to Sound Like an Expert and Build Rapport
Last week we attended a graduation dinner for a candidate, who insisted we prove to her that it is possible to speak authoritatively on any subject and with zero preparation. She introduced us to a doyen of health economics to test this theory. FYI – we were not prepped in advance and do not know anything about the field. We wanted to show her techniques to manage such situations.
Podcast: Summer Reading List, the four books we recommend for summer reading.
Podcast: Are Accenture, Deloitte S&O, LEK etc worth joining?
We get this question more times than you can imagine. We also get a chorus of Accenture people telling us we are wrong, and they are “eating McKinsey’s lunch.” I think the question posed is incorrect and the defense of Accenture is incorrect. This podcast explains why. BBM are good at advising decision makers on general management issues. They excel at that. They are pretty much no-where in the implementation space. Accenture, Deloitte S&O etc have their areas of strength, but it is not in the general management advisory space. They are both good at different things. Decide what you want to do and then pick the firm. However, don’t assume a firm is good everything, and if you have never worked at BBM, don’t believe everything your Accenture/Deloitte/[add your firms name here] partner says. Get first-hand information. FYI – Kennedy Research, the Economist and IDC Research are not first-hand information.
Podcast: Greg Smith (author of the infamous Goldman Sachs resignation letter) does not demonstrate true values and ethics
I have had many people emailing me the Goldman Sachs letter to tell me that, “Michael, this is exactly what you teach us.” It is not. I fundamentally disagree with what Greg Smith did. It goes against the consulting culture, values and ethos, at its very fiber. Here is why, and I would welcome your comments on this.
Podcast: Comparing US MBA Consulting Salary Offers 2011
Based on offers made to our candidates in the Fall 2011 full-time recruiting, we present the ranges of packages offered. The sample size, 48, is large enough to offer a good approximation of all offers extended. Listeners are cautioned not to extend these numbers outside the USA, where salaries differ significantly. As expected, Accenture and Deloitte dramatically out-offered Bain, BCG and McKinsey.
Podcast: Disney-style inspiring story of a successful candidate
As a policy, we do not write much about our candidates. However, I felt this story was worth sharing. A candidate from an unknown school, from one of the poorest developing countries in the world, lands an offer at BBM. In fact, the first from her country. I have heavily disguised her details to protect her identity.
Podcast: Lessons from the 2012 US MBA Internship Cycle
Many of our candidates are still interviewing, but we can, with a fair degree of accuracy, determine how they will do. We project a 60%-65% placement rate, which considering that internships slots are far fewer than full-time slots, is expected. In this podcast we segment our candidates and present some important lessons for those who want to pursue the full-time cycle in September 2012, as well as candidates in other countries and US undergrads.
Podcast: Why most Candidates Fail the Fit explains the fit interview.
An overview of what firms seek and detailed guidance on preparing.
Podcast: Converting the MBA Internship.
Presents some proven strategies candidates can apply this summer. We will discuss actual internship examples from our own experiences in consulting firms, and the characteristics of the successful candidates.
Podcast: Experienced Candidate with Deep Industry Specialization
Looks at the profile of an older MBA candidate who has extensive oil and gas expertise. We offer some counter-intuitive advice to this candidate for their career and planning.
Podcast: Canadian MBA Programs as a Transit to Consulting
Provides some behind the scenes numbers about MBA program in the Great White North, as well as some tough questions candidates should ask themselves before applying.
Podcast: Traits of Successful Candidates
A continuation of a podcast series we regularly update which looks at new traits and examines some in greater detail. In this posting, we spend more time looking at experience candidates.
Preparing for BTO Applications & Interviews
Address some of the common misconceptions candidates have, and the mistakes their routinely make for this McKinsey path.
Podcast: How does an older candidate break into BBM?
There are different categories of older candidates: older with little professional experience, senior executives, senior level consultants from tier-2 firms, older with lots of business experience etc. First, we will discuss the different categories and then the best strategy for each category. In the end, it comes down to the following equation: Assuming you can pick up the consulting approach, does the value you add in the short and long-term exceed the cost of training and skepticism from more junior consultants? I hired several senior executives. Trust me, it was not easy. Many lacked stamina, were unable or unwilling to perform the analyses of an issue, and fatally relied on gut instinct. Too often, they thought they were in a sales role and did not need to understand the issues. They could not have been more wrong.
Podcast: My husband is threatening to leave me unless I can find time to balance home and work. What should I do?
We get a variety of queries from all levels of consultants: analysts up to principal. This question came from a female engagement manager in the USA. She was distraught after having worked very hard to build her career, and not sure how to handle this ultimatum from her husband. She was afraid that any changes to her work schedule would affect her partner track. We offer some helpful considerations for managing this delicate situation.
Podcast: I am being managed out and have 4 months to move on. What should I do?
Unfortunately, in management consulting this is something everyone should plan for. Performance or economic conditions can lead to the up-or-out policy being applied. We have had several requests to help mainly associate (MBA-level) admits. The key thing is not to panic. Not to lose any leverage. Not to make rash decisions and rush off resumes. Not to do anything until this has settled in and a strategy has been developed. The decision should not affect your self worth in any way. In all fairness, consulting firms do treat candidates well during this painful transition. Full disclosure, I was the architect of many such decisions and can understand the difficulty for candidates. Here I present a blue-print to follow which worked very well when I released candidates. With the economy already softening , recruitment down worldwide for 2012 and fees down in several major offices, this podcast is timely.
Podcast: How do I prepare if I had 2 weeks, 4 weeks and 8 weeks
Most candidates choose very poor preparation strategies. In fact, their preparation strategies usually lead to delays, repetition and oversight of key activities required to prepare for consulting interviews. Here we present a list of things you can do to prepare by yourself.
Podcast: If accountability is essential to consulting success, how do you test if you have it? (Important)
We are going to discuss our earliest engagements as associates and consultants, and how we defined, applied and measured our ability to be accountable and lead our work streams or pieces of analyses. This is an important podcast. Everything you think is important about management consulting: math skills, communication, listening, analytical skills etc all come down to the ability to take your task list and get the job done. It is not as easy as it sounds and this podcast explains why. It also discusses what to do if you find yourself struggling to deliver on your tasks.
Podcast: How does an older candidate break into BBM?
There are different categories of older candidates: older with little professional experience, senior executives, senior level consultants from tier-2 firms, older with lots of business experience etc. First, we will discuss the different categories and then the best strategy for each category. In the end, it comes down to the following equation: Assuming you can pick up the consulting approach, does the value you add in the short and long-term exceed the cost of training and skepticism from more junior consultants? I hired several senior executives. Trust me, it was not easy. Many lacked stamina, were unable or unwilling to perform the analyses of an issue, and fatally relied on gut instinct. Too often, they thought they were in a sales role and did not need to understand the issues. They could not have been more wrong.
Podcast: Full-time MBA’s vs. Executive/Dual/Part-time/Evening/Weekend MBA’s
Off the bat, they are treated differently. What counts is how you view your MBA and how you allow this to affect your image, confidence and application strategy. I have personally interviewed many people in the executive or joint-programs and I usually find they have a hard-wired view that their degree is inferior. Even when I do not raise it, they do, and turn it into an issue. You can succeed with these other MBA formats. This podcast explains how to know if you are one of those who can.
Podcast: Do you know how to prepare and learn for cases?
Oddly enough, very few candidates critically evaluate their learning styles before embarking on case training. To be fair, those who are weak at learning, present the most challenging cases for us. This podcast looks at the different stages of learning: 0 – learning how to receive, capture and apply feedback, 1 – learning the hard skills, 2 – learning the communication skills, 3 – learning to apply both, and 4 – application of both in successively more complex environments. Not surprisingly, many struggle at stage 0 and 2 but spend too much time thinking they are struggling at stage 1. This podcast explains why this happens and what to do about it.
Podcast: The Role of GMAT
Hi Michael,
My question is about GMAT scores for MBA students who hope to get offers at a BBM.
Overall, how important is the GMAT when interviewing with a BBM? Does this differ by each of BBM?
What type of scores do they expect, 700+? Is it more like 720 or higher these days?
I have heard some firms look at the breakouts of the score, focusing on the quantitative section. If that is the case, what scores would be considered below expectations/good/excellent on the quantitative section?
I have also heard that some BBMs require you to submit your GMAT scores when you initially apply, others only ask for it only after they invite you to interview – this may differ by BBM (as well as by office within a particular BMM).
Finally, I believe at some MBA programs the BBMs are a little more proactive… meaning they will reach out to potential applicants who they like. i.e. invite MBA students to apply. Are GMATs used to screen or make “cuts” on who makes short-lists such as these (this may differ by BBM and by each MBA program).
Anything else to keep in mind about GMAT scores and BBM??
Podcast: What do you actually do in a networking event
We discuss the types of networking events, common myths, how to distinguish yourself, build a good introduction and develop a clear set of goals before going in.
Podcast: Step-by-Step Guide to Networking
Here we show you how to logically use your résumé and LinkedIn profile to network and build relationships which lead to referrals and improve your chances of making the shortlist. We offer some very counter intuitive advice!
Podcast: Resumes
How do consulting firms screen and review resume’s and what can you do to improve your chances?
Podcast: The one thing more important than cracking the case: communication
If you read forums worldwide everyone is obsessed with cracking the case. Yet, most people cannot communicate like a consultant. We hope by reading this post, candidates spend an equal, if not more, time focusing on their communication skills as well. If you cannot speak like a consultant, you cannot be a consultant.
Podcast: How do I raise a young family and pursue management consulting?
The reality is that something will have to give. We touch on the impact on your career, the best time (in our opinion only) when to have children and the trade-offs you will be forced to make. We also point out some important data to collect from firms which purport to have “family friendly” policies.
Podcast: I speak English. To which office should I apply?
Aspiring consultants typically struggle at this and arrive at the wrong strategy. When you live in a country with just one BBM office, like most countries, how do you select a 2nd, 3rd or 4th choice? How many options do you realistically have and how do you size them up? Are the UAE and Singapore your only options? This podcast addresses these issues.
Podcast: Why we failed to place a Wharton grad at BBM
There are many lessons to learn from failure. Today we talk about an experienced hire (Wharton MBA, 6 years work experience in banking, US experience only) and why this candidate did not make the grade to get in. The lessons will surprise you.
Podcast: What it is really like on a consulting engagement
Most readers have a vague understanding of the lifestyle of a management consultant. It is cultivated by the images consulting firms work very hard to keep up. In this podcast we explain the issues found on a typical engagement, and most importantly, why the lifestyle is tough.
Podcast: How to choose a firm when you get more than one offer
How do you pick the firm to build your career: prestige, ranking, salary, feedback from friends or friendliness of the interviewer? Actually none of these will help you. In this podcast we explain how outstanding consultants build their careers and what you need to consider when choosing a firm.
Podcast: Differences between BCG, McKinsey, Roland Berger and Bain Interviews
Each firm uses a very different interview style. We discuss the different styles to expect and how to handle the questions you will encounter. We also rank the difficulty of the cases from each firm. Expect some counter-intuitive ordering.
Podcast: The different types of cases you will encounter
Many candidates are confused between the different types of cases: interviewer led, interviewee led, brainstorming, market entry, market sizing etc. In this podcast we will discuss the different types of cases you will face and where you will likely encounter them. We also provide some general tips for dealing with each type of case.
Podcast: Day 8 with a tough candidate
In this final day, we taught the candidate the backgrounds of the office to which he was applying, backgrounds of the partners in that office, key sectors and work done in the office, and helped him craft the questions he would ask. Definitely the most interesting day! We also discuss why this candidate placed successfully and the learning’s for both him and us.
Podcast: Day 7 with a tough candidate
After spending a week locked in an hotel conference room, we decided to do some live cases out in the mall. An interesting day because we would say it put the candidate under much more pressure. It was also a very important day since we taught the candidate how to shift his thinking styles repeatedly in a single conversation.
Podcast: Day 6 with a tough candidate
A day of more estimate questions and layering on more and more difficult cases. We also moved into fit questions. All candidates think this will be easier but are shocked how badly they do in this area. We had to basically start from first principles in teaching this candidate to communicate clearly, crisply and concisely.
Podcast: Day 5 with a tough candidate
We set up Day 5 as the revision day. That did not go well at all when we realized the candidate was not trained in taking notes. For the entire morning we worked to compile notes for the candidate (from the last 4 days) and teach him how to take notes. This made us realize that he did not know how to learn cases. A key insight.
Podcast: Day 4 with a tough candidate
We moved to much tougher cases. We also introduced him to the McKinsey style of interviewer led cases. To be fair, he struggled immensely on this. However, the approach to get him to understand and tackle these cases was rather counter intuitive.
Podcast: Day 3 with a tough candidate
The day we began the core case and communication training. This was certainly a tough day. We had to teach the candidate how to learn. He was used to a rote style of learning where he was given the answer and would apply it. In consulting, there is no set answer and we had to teach him to apply analytical tools in highly ambiguous settings.
Podcast: Day 2 with a tough candidate
We focus on the techniques we used to teach the candidate market sizing questions and practice math. Decision trees were a major part of the first 2 days were we just focused on estimation questions and building the core skills.
Podcast: Day 1 with a tough candidate
This podcast focuses on the plan we put together for the candidate, how we managed his training and specifically the action steps we took to identify and fill the gaps in his knowledge. You learn that 24 hours in a day is not enough when English is not a first language, business is not a natural interest and the interview is 9 days ways.
Podcast: Day 0 with a tough candidate
Early this year, we spent a week in Middle East helping a candidate prepare for his case interviews. The son of a former client, this series of podcasts outlines the difficulties of placing someone starting from a zero base of preparation. I mean zero. We have changed some details but all the insights and examples are real. We were brought in to spend an entire week taking this candidate through a crash course in case preparation. In this first podcast we clearly outline the challenges we would need to overcome.
Podcast: Practising math skills for cases
We were forced to prepare this podcast after realizing how poorly candidates prepare for the arithmetic rigor they need to display. For some reason candidates believe practising hundreds of math problems make them better at math. This is not how to learn math in cases. This podcast gives you proper guidance on learning arithmetic for cases, and how to communicate this competency.
Podcast: Advising a recently successful candidate
On Monday this week, we had an early lunch at Crush restaurant at King West in Toronto. We wanted to advise a recently placed McKinsey associate who was struggling to make the transition. The challenges he faced provide an interesting perspective on what skills you will need as a consultant, and related to this, what you need to show in an interview.
Podcast: The importance of confidence in cases
We would say 90% of candidates with whom we speak do not understand what is confidence, how to build it and how to demonstrate it. We will talk about experiences we have had with candidates with weak confidence levels and what you need to consider when preparing for your own interviews.
Podcast: 3 phrases which create trouble in an interview: “I think that…” and “In my opinion…” and “But, if I look at my friends…”
Podcast: Brainstorming is incredibly difficult, but made much easier using a 3-step decision tree-based process
Podcast: The right way to read a graph and a set of graphics, is not to look for each insight, but to extract the overall message, and why this impresses interviewers
Podcast: Interviewers can only respond to what you say, and poor communication, like in this example, not only wasters time, but is a poor reflection on your candidacy
Podcast: Why you never discuss politics, religion, ethnicity, culture & Jersey Shore in case interview
Podcast: What the Kim Kardashian case, one of the most important cases we teach, tells us about a candidate’s understanding of productivity and confidence
Podcast: It is impossible to read the personality of an interview and we discuss the typical errors candidates make in trying to read too much into the behaviour of interviewers: quiet, asking questions, rude, etc
Podcast: When we ask candidates for more details in their résumé, fit responses and cover letter, they always write longer sentence. There is an important difference between “more details” and “greater length”
Podcasts: Solving a case while talking an interviewer through your thinking is, for the interviewer, a little like trying to understand a presentation without seeing the slides. Or at the very least seeing untidy slides – that is, assuming your working sheets are messy. Here we talk through the anatomy of a case dialogue pointing out key mistakes candidates make
Podcast: The myth of demand side estimation cases is the greatest mistake taught in case books worldwide and is probably the worst technique a candidate should be using. Fortunately, it is easy to fix
Podcast: Far too many candidates focus on being faster. That is another myth. Speed is an outcome of having good technique. So if you are slow, deconstruct your technique and then watch your speed improve. We explain how
Podcast: We have yet to meet a candidate build hypotheses correctly. This podcast presents a painfully simple way to quickly build MECE hypotheses
Podcast: We are not fans of case competitions. The dean of a business school recently gave us carte-blanche to design the perfect case competition. This long podcast outlines the approach we took and why we followed this approach
Podcast: Most candidates treat “speaking” through a case as an annoying impediment to be overcome. We discuss important techniques to improve communication and treat the interviewer as your audience
Podcast: Candidates sometimes divulge too much confidential details, or too little in interviews, resumes, cover letters and LinkedIn profiles. These are the rules for disclosure
Podcast: We find many candidates drown in feedback. They want as much good feedback as possible and then cannot act on it. We expect our candidates to always prioritize the top 3 issues and tackle them, as explained in this podcast
Podcast: Despite the words “framework” and “structure” used so often, most candidates cannot explain what it is and why it is used. Unless you know the latter, you tend to misuse the framework and incorrectly use it in a case.
Podcast: Candidates mess up calculations for 5 reasons: missing units, complicated equations, weak visual layout and poor technique. Notice that we ignore speed and arithmetic. There is a reason for that.
Podcast: The importance of starting estimation cases from a known versus unknown variable. This may sound like a strange piece of advice, but make a monumental difference on the ease of calculations and sanity-checking at the end.
Podcast: Analyzing customers, competitors and the market: 3 areas which must always be considered in cases, even when it is not clear why. We explain why here.
Podcast: Impact of confidence on cases and avoiding the content trap. We use simple ratios to explain why you need to be confident and how the content-trap sinks many candidates
Podcast: The importance of you, the candidate, never ever giving the interviewer the benefit of the doubt, why this is vital, how to do this in a case and the improvement it will immediately deliver
Podcast: Why an obsession with mathematical precision will hurt you
Podcast: Entering BBM with a weak school on your résumé can create problems. Though, all of them tend to be created by the candidates themselves. There are certain things you can do this alter this spiral, should it occur.
Podcast: Why neatness and writing style is so important. It really surprises how little care candidates take in writing in an appealing way, considering that is all the interviewer can see for the 30-45 minute case.
Podcast: Why observing cases is better than listening to cases, be it over the phone or Skype.
Podcast: Editing out clichés from Deloitte and Accenture resumes. This tends to take up the majority of time when we work with candidates from these firms, and the accounting other firms like PWC, E&Y and KPMG. We will show why it is a poor way to write.
Podcast: “I was told I am too junior to attend a meeting with a senior partner, what should I do?”
Podcast: Why bad assumptions destroy credibility in cases. It is not for the reasons you think
Podcast: How to make estimations for when calculating smaller values or working with enclosed spaces like restaurants, the importance of sensitivity analyses and a new limitation of demand-driven cases
Podcast: The main difference between teamwork versus leadership fit questions
Podcast: Important relationship between estimation, brainstorming and full cases. They may all look different but they are actually using the same core technique
Podcast: Showcasing career rotation versus career progression. They are different and only one is a benefit to your profile.
Podcast: Merging the BCG and McKinsey approach, elegantly. This is a simple discussion on how to merge both approaches so you do not need to worry about learning different techniques
Podcast: The importance of understanding productivity, which is surprisingly, one of the least understood concepts in case preparation
Podcast: Why not to offer solutions before you understand the problem in the case, and what happens if you do this?
Podcast: The most important strategy to use when being coached by a trusted peer or consultant
Podcast: How to use frameworks without using frameworks. This is a smart trick which explains why interviews hate candidates who use frameworks – it is not the use of the framework, but rather that way it is introduced
Podcast: Ask yourself “so-what” three times before answering a fit question. You will be surprised at the quality of what you get
Podcast: Why candidates are still surprised when they are told they failed the case for not providing sufficient detail, even though they felt they spoke too much. It comes down to the definition of detail
Podcast: Six important tips for estimation cases
Podcast: How to take feedback correctly in case practice sessions
Podcast: A smart way to brainstorm by looking at the definition as a guide
Podcast: Six things you must be religiously worrying about as you prepare for cases
Podcast: Counter intuitively, the reason 100% of people fail our profitability cases
Podcast: Lessons on why we constantly adjust our style as we coach students
Podcast: Barter system in cases, why it works this way.
Podcast: Believe in yourself, and watch for charlatans as cases approach
Podcast: Three techniques to ensure you are using your case-buddy effectively
