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Consulting Interviews Fisher Emerging Consultants Spring 2011

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Consulting Interviews

Fisher Emerging ConsultantsSpring 2011

Mission Impossible

Highly respected company Outstanding applicants (on paper) Thousands of applicants Only need a few new hires The Best of the Best AND◦ The job is not easy◦ It requires unique individuals with unique skills

Interviews assess:

Skills, strengths, values (do you have insight into yours?)

Communication skills – can you tell a good story?

Leadership style / philosophy Do you fit with the organization? Are you interesting? Meet you to see all the non-verbals

But in consulting . . . .

I really want to assess your problem solving and analytical skills

As an interviewer:

I need to: get inside your head –SEE you think understand your ability to structure, deal

with ambiguity, define the problem, work to a solution

watch your composure during the process

But how????

The answer . . .

Problem Solving Questions!!!◦Brain Teasers◦Market Sizing◦Case Interviews

I am going to watch you:

ListenClarifyStructureAnalyzeConclude

Types of cases:

Brain teaser

Keys to success

Enjoy the problem Check out your assumptions! Question your assumptions Ask questions

Visualize the problem Use pencil/paper

Can you put 10 pennies into three glasses in such a way that each glass contains an odd number of pennies?

Types of cases:

Market sizing

“back of the envelope”

I am going to watch you:

ListenClarifyStructureAnalyzeConclude

Market Sizing Questions

Listen and Determine the type:◦ Population based◦ Household◦ General population◦ Preposterous

Question (terminology or clarification) Lay out your STRUCTURE ◦ Steps you will take◦ Then do the math

Keys to success:

Enjoy the question / the challenge Know your market sizing values How are you going to break it down? Reality test? Work through the math Is it making sense? Any reasonable answer may be OK

How many transportation vehicles were sold in the United States in 2010?

Types of cases:

Business cases

Case interviews see if you can:

Identify which issues are important in the problem

Structure an analysis of the problem Process data (numerical and otherwise) Summarize, make conclusions,

recommend actions Take in new information and re-evaluate

PREPARATION

You need:◦ Paper – white (can be blank or graph – or a blank on one side and graph on the other◦ Pencil◦Calculator (but you might not use it)

Your name/date

In this area the problem – issue identification – possible questions –“buckets for analysis”

Calculations, graphs, decision tree, images, etc.

Your:ConclusionsRecommendations

Are you answering the key questions?

Additional issues and insights of this problem

Follow - up

Find what works for you! But have a PLAN for your PAPER!!!!

LISTEN

Take notesKeep eye contactGet the question!Let them know you understand

CLARIFY

Ask questionsThink OUTLOUDLet the interviewer know where

you are going . . Okay to draw on personal

experience

STRUCTURE

You know the core questionWhat is the core business issue?What framework might you use

ANALYZE

Take some time to think Talk your way through the analysis once

you have the structure Clarify – ask questions Get new information Is structure still good? Keep going

CONCLUDE

Remember the question Answer it State why you are recommending that

solution Be prepared to hand over your

worksheet!

Cosentino’s Case Commandments1. Listen to the Question2. Take Notes3. Summarize the Question4. Verify the Objectives5. Ask Clarifying Questions6. Organize your answer7. Hold that Thought for “One Alligator”8. Manage your Time9. Work the Numbers10. Be Coachable11. Be Creative and Brainstorm12. Exude Enthusiasm and a Positive Attitude13. Bring Closure and Summarize

Most importantly

Articulate your thoughts during an interactive

problem solving discussion

Keys to success:

Have breath and depth Identify the essence of the problem Probe for information Be insightful Draw on resources Be creative Think for yourself Remember the question and answer it

I own a microbrewery in Seattle. I want to expand my brand nationally. What are some of the issues I would need to think about if I were to do this? And what are your recommendations of how I should address those issues?

Business case interviews:

Read Marc Cosentino’s book

Explore Deloitte’s CAREERS area –especially Interviewing

Explore McKinsey’s site – How to do well in the interview

Explore other consulting sites