Tom Spencer(Source: Flickr) The guesstimate question frequently comes up in consulting interviews. It will often be a market sizing question, which may be a standalone question or part of a larger case question. What will you be asked to do? The typical guesstimate question will require you to estimate a number by doing a rough “back […]
(Source: Flickr) In consulting interviews, when you are asked a behavioural interview question, you will typically want to include five things in your answer: A specific situation; The goal you set for yourself or obstacle you faced; The action you took; The outcome achieved; and What you learned from the experience. [For more information on consulting interviews, […]
(Source: Flickr) Behavioural interview questions are one type of question that you are likely to encounter in the consulting interview. Below we provide thirteen (13) sample questions to give you an idea of what to expect: Tell me about yourself. Can you provide an example of a time when you demonstrated leadership? Can you provide […]
(Source: Flickr) In consulting interviews, the interviewer is likely to ask questions based on your résumé with the aim of understanding your skills and experience. Your résumé may provide a structure for these kinds of interview questions, but you also need to be prepared to elaborate on your experience including by highlighting your skills using […]
This is a guest post from Archie Ward, a business consultant and social media strategist. Archie splits his time each year between Asia and Australia. While he is hard at work helping other people make their businesses successful, he hopes to launch his own by year end. Consultants rely on image as much as they […]
(Source: Flickr) Below we outline twelve (12) tips for nailing the guesstimate question: 1. Practice Practice doing some guesstimate questions before the interview so that you are prepared. It is a good idea to bring a pen and graph paper to the interview so that you can keep track of your calculations. 2. Know some […]
I recently had the good fortune to speak with Nigel Lake, CEO of Pottinger, a global corporate advisory firm based in Sydney, Australia. Nigel is a truly original thinker who combines a good sense of humour with sharp strategic insights and clarity of thought. I had originally intended to ask Nigel some questions about Pottinger […]
(Source: Flickr) Another question that may come up in the consulting interview is “have you ever failed at anything?” This question is designed to assess your ability to learn from experience, and overcome obstacles. In preparing a response to this kind of question, develop a story about a time that you were not able to […]
(Source: Flickr) In the consulting interview, your interviewer is likely to ask you the following straightforward question, “why consulting?” Relevance of the question The question is relevant for two reasons: Your interviewer is likely to ask it in the interview; and You will be much more likely to succeed (in the interview and afterwards) if you […]
Price and value, there is a difference. Price is what you pay for something; the number of dollars that you need to part with in order to obtain it. Value is what you receive; the positive feelings or practical utility that the object or the experience imparts. I recently had my birthday, and I was delighted to […]
(Source: Flickr) If you had all the time in the world but not much money, then your capacity to create new ideas and connect with people would be great, but your capacity to consume would be limited. On the other hand, if you didn’t have much time but had a lot of money, then your capacity to create new […]
(Source: Flickr) There are six types of questions that you may encounter in the consulting interview: Behavioural interview questions; Guesstimate questions (aka market sizing); Math questions; Brainteasers; Factor questions; and Business case questions (these form the cornerstone of the consulting interview). [For more information on consulting interviews, please download “The HUB’s Guide to Consulting Interviews“.]
(Source: Flickr) Case questions form the cornerstone of the consulting interview, and reading this blog or reviewing the case prep resources listed below will not be sufficient preparation. If you want to perform successfully, then you will need to do a lot of practice. Many experts recommend at least 30 mock case interviews with friends, […]
(Source: Flickr) It will help your consulting application if you have prior business experience, however if you come from a non-business background all hope is not lost. You can strengthen your consulting application by showing how your experience demonstrates team work, leadership, and an ability to achieve positive outcomes. Use ‘action-outcome’ language in your résumé. That […]
(Source: Flickr) I recently had a conversation with a friend who is studying a PhD here in Oxford. She is originally from China, and her intelligence is only exceeded by her work ethic and desire to make her PhD supervisor happy. She confessed to me with a look a mild despair on her face, “I am making slow progress. […]
(Source: Techradar) Design is about function. Every product has a job to do, as Professor Clay Christensen enjoys telling his marketing students at Harvard Business School. If a product is designed properly, then the job will get done well. Apple’s new debut wearable technology, the Apple Watch, has a sleek yet distinctively square shaped design. This seems […]
A revolution in energy technology? Elon Musk launches the Tesla Powerwall Elon Musk, CEO and product architect at Tesla Motors, has just announced the launch of the Tesla Powerwall. Musk was a co-founder of Paypal with Peter Thiel (who I talked about yesterday), and has since gone on to found Tesla Motors, SpaceX and SolarCity. The new product is […]
(Source: Flickr) Are you keen on management consulting but have poor grades? If you have poor university grades, you may face an uphill battle getting an interview at a top consulting firm. But don’t despair just yet. There are two steps you can take to combat this hurdle. You can highlight your most impressive work experience in […]
(Source: Flickr) Anchoring is a common psychological effect whereby people tend to rely too heavily on readily available information (the “anchor”) when making decisions involving uncertainty. To illustrate the point, let me ask you two questions: Is the population of Argentina greater or less than 80 million? How many people do you think live in Argentina? Write […]
I recently had the chance to correspond with Georgia Hewett who handles Corporate Communications for Accenture in Australia/New Zealand. Georgia was extremely helpful and was kind enough to answer some questions I had about Accenture and its recruitment process. If you are a student, recent graduate or aspiring consultant looking to land a consulting job […]
(Source: Flickr) It is a figure of speech that “empty vessels make the most noise”. And for verbal conversation this would appear to be a good observation. People who are not thoughtful are likely to say whatever comes to mind since they don’t think to filter good thoughts from bad, obnoxious thoughts from nice ones. In self defense, these people will often be […]
(Source: Flickr) Yesterday we read an article in The Australian Newspaper entitled “The career advice I wish I had at 25“. It was an insightful article in which The Australian’s Queensland Editor Shane Rodgers provided thirteen pieces of advice that he wishes he had had back when he was 25 years old. We were going to […]
I recently had the chance to talk with Stephanie Green, Manager of Talent Acquisition for Europe, the Middle East and Africa at IMS Consulting Group. If you have an interest in life sciences, either through your studies or previous work experience, then IMS Consulting Group could be the perfect place to enhance and grow your […]
(Source: Flickr) Top consulting firms receive thousands of applications per year, and so your cover letter and CV form a crucial first step in your application that will determine whether you secure a first round interview. You need to tailor your cover letter and CV for each application and highlight your most impressive and relevant […]
Before taking decisive action, it may be a good idea to assess the lay of the land According to Sun Tzu, the quality of decision “is like the well-timed swoop of a falcon which enables it to strike and destroy its victim.” And much like a circling falcon overhead, a company needs to take a […]
(Source: Flickr) Traditional strategic thinking, the kind championed by HBS Prof Mikey Porter, says that real economic value is only created when a company can sell a product or service to customers at a price that exceeds the cost of producing it. In other words, companies are entities that sell products or services, and strategic thinking is […]
(Source: Flickr) Applying for consulting roles in Australia, or thinking about it? We have updated our list of Australian consulting firms, which includes a list of firms along with information such as firm background, services, sectors, office locations, and links to the most relevant careers websites. It might come in handy. To download the document, click here (it’s free).
(Source: Flickr) This post considers how to build consulting relationships. Some people appear to believe that the goal of attending networking events is to collect as many business cards as possible. This was always the wrong approach, however in a world with LinkedIn, it is also absurd since a person’s business card will contain much less information than […]
Don’t do the opposite (Source: Flickr)
(Source: Flickr) AS an aspiring consultant, the purpose of networking is to gain industry contacts, learn about your target firms, and obtain names that you can use in your application cover letter (e.g. “I am applying to Bain following my discussion with your Associate John Citizen at the recent New York University careers fair.”). There are various ways to […]
May amuse. [Hat tip to Roger Look.]
WE have updated our free guidebooks which outline key details of the most prominent management consulting firms in America and the UK. If you are an aspiring consultant with an interest in the USA or the UK, then this will probably be of interest to you. You can download the free guidebooks here and here.
(Source: Flickr) IN this post we look at researching consulting firms. Why, how and what should you research? Below we provide some ideas to help make your research as effective and efficient as possible. 1. Why should you research? Take control of your career. Researching consulting firms doesn’t just help you prepare your application and […]
WE were grateful for the recent opportunity to talk with Amanda Melo, recruitment manager at Partners in Performance. Partners in Performance is a global management consulting firm and we were interested to learn more about the firm and its recruitment process. Please read the edited transcript of our discussion with Amanda below. This will be of particular […]
(Source: Flickr) Failure can be painful but it tends to mark the boundary between what’s proven and what’s possible, between your comfort zone and your potential. Failure is feedback, an opportunity to learn and grow stronger. Keep pushing.
(Source: Flickr) IN this post we consider some consulting interview basics: what to expect, what to wear, and what to bring. 1. What to Expect Consultants are the public face of a consulting firm, and firms need to be able to trust consultants to interact with senior clients including CEOs and executive board members. As a result, […]
(Source: Flickr) ARE you preparing for consulting interviews? In this post we provide 10 tips for nailing the case interview, written in stone. 1. Practice, practice, practice When it comes to the case interview, preparation is crucial for three reasons: The interview process is extremely competitive. You are unlikely to succeed without a lot of practice; […]
(Source: Flickr) In this post we look at the stress interview. If you’re interviewing for consulting positions, then you may be subjected to one. The aim of the stress interview is to put you under pressure in order to see how you will react and whether you can calmly defend yourself. Your interviewers might do this in […]
IN this post we look at the structure of the consulting interview. Firms will normally conduct two or three interview rounds, and each round will consist of two or more interviews back-to-back. The case question is the cornerstone of the consulting interview, and some firms will employ a fixed structure for the case question, asking each […]
Not overnight. Not without hard work and creativity. Not without moments of doubt. Not inevitable. But possible. Possible for you. Success, for you, is possible.
ARE you an aspiring management consultant? If so, then you’re in luck. Over the coming months we will be posting about the consulting interview. In this post we look at the purpose of the consulting interview. The purpose of the consulting interview is twofold. Firstly, it is a test of client readiness. Management consultants are hired by senior executives […]
Using gamelike elements to engage customers can produce real business value We are currently taking an online course on Gamification with Wharton’s Professor Kevin Werbach, which provides a fascinating insight into the world of games and how gamelike elements can be incorporated into the customer experience. The basic concept is that games provide a structure within which […]
All too often partners in professional service firms know how to issue orders, but forget about the need for kindness. Employees develop fear rather than fondness for their managers, and quickly learn how little they can produce to keep people happy. In professions where the quality of the final product hinges on the quality of the thought process used to develop it (e.g. […]
ORGANISATIONS hire management consultants to help them solve their most challenging business problems. Senior management are busy people, and so consultants need to communicate their message clearly and concisely, preferably accompanied by some colourful powerpoint slides. The irony, though, is that consultants have gone on to develop an industry jargon which is often completely incomprehensible to industry outsiders. Below […]
The financier cares about the next 3 months or less. The strategist cares about the next 3 years or more. The financier wants the deal to close as soon as possible so that he can earn his bonus. The strategist is open to taking action if it will strengthen the firm’s position over time, and a better outcome can’t be […]
ARE you an aspiring consultant with an interest in pursuing a career in the management consulting industry? Breaking into the management consulting industry is extremely difficult, and so with this in mind we have produced a number of free consulting resources to improve your chances of success. Where To Apply? The first problem that applicants face is knowing where to […]
We each face obstacles at times that prevent us from achieving our goals as quickly and effortlessly as we would like. In your professional life, difficulties may result from factors outside your control: fierce competition, lack of customer demand, or a new well-heeled company entering your industry. Hurdles can also result from factors a little closer to home: outdated skills, insufficient experience, or a weak reputation. Obstacles may be unavoidable, but we […]
The problem with being a social climber is that you erode your base of support. Your customers or boss may love you, but if you actively disdain your subordinates, employees, suppliers and other members of the community, you will erode over time the foundation upon which future success can be reliably built. All stakeholders have value, not just the ones who can reward you most immediately with money, […]
Happy new year, and best wishes for a prosperous and productive 2015. Cavett Robert, founder of America’s National Speakers Association, once said that “character is the ability to carry out a good resolution long after the excitement of the moment has passed.” May you have the character and conviction to persevere with your plans for the year […]