Hi Im Jenny Rae, the managing director of Management Consulted, and we're back today
to bring you another installment in our advance case interview series.
Today we are starting the first of a few deep dives into the strategy and style of some
of the top firms' case interviews.
In particular, today we are going to focus on Mckinsey.
And I am going to walk through three pieces for each one of the firms that we are going
to highlight.
Today I am going to talk about the style of Mckinsey interviews.
I am going to talk specifically about the math, which is one place where you will really
notice differences.
And then finally, I am going to talk about some key tips on how to win at Mckinsey interviews.
So we hope that you enjoy this, because here we are giving you some real great insider
information.
So lets get started.
The first and most important thing that you probably need to know about Mckinsey style
interviews is, they are generally interviewer led.
Its really important that you make sure that you practice an interviewer led case before
walking into a Mckinsey style case.
Because it is different than walking through a case where you are the boss.
Its really helpful to make sure that you get the timing and the pacing down with an actual
interviewer.
And Mckinsey does often offer the opportunity to practice the case with a buddy once you
have a confirmed interview.
If you cant practice with somebody who is currently at Mckinsey, try to find somebody
who worked there in the past.Or work with one of our experts.
We all cover Mckinsey style cases.
And we are very familiar with the way that their operators work the case as they are
going through the process.
The second thing that is helpful to understand about style is that Mckinsey focuses on deep
dives for key issues.
Where as some other cases go broad and expect you to cover the wide range of topics – Mckinsey,
using the interviewer led format, really goes deep into certain areas that they want to
explore.
They are going to test, not only your high level understanding of the topic, but your
ability to stay focused when they go and do a deep dive in a key area.
So make sure that you're following the flow of the case and that you don't get jarred
by what may seem like you are jumping around.
Usually, instead of jumping around, you are jumping into a deeper level of an issue that
you are addressing in the case.
The next thing that is really helpful to understand about style is that Mckinsey cases are heavily
quantitative.
But the quantitative sections are usually very clearly delineated from the non-quanitative
sections, or the creative sections.
So you will have one section that focuses entirely on quantitative portions.
And another section that won't cover it at all – it will only be conceptual brainstorming.
So at Mckinsey, you go back and forth, between one or the other types of cases.
The fourth thing that you need to know about the style of the Mckinsey interview is that,
they are generally, highly formal.
In fact, probably some of the most formal interviews that you will go into.
You do not want to be too chatty, you don't want to act too relaxed, you want to be very
poised, on point, quick with your words, direct to the answer.
They're incredibly formal, you are expected to be formal, and pretty serious in the process.
We've talked in the past about not being too serious, and thats true.
You still want to act like you are enjoying it and having fun, but you don't want to act
too chatty, too relaxed, or too blasé.
Because it will come across as though you are not client ready, in Mckinsey's words.
The second thing that you want to understand beyond the style of the Mckinsey interview
is how you do the math in Mckinsey interviews.
Mckinsey math is something very special.
Because each of the interviews have the math set up beforehand.
Because the interviewer is leading you through it, they're expecting a lot of structure when
you walk through the process.
So let me explain some of the key areas of Mckinsey math as we are walking through the
process.
The first thing that you need to know about Mckinsey math is that it is usually multi-step
algebra.
Often times, the prompts that they give you for the math include multiple pieces of data
that you need to collect verbally.
And then, you'll have to lay out a structure, you'll have to identify if there is any points
missing, and then you will have to do the algebra in multiple steps.
They're not just testing you on how your calculations are basic, they're testing you also on your
ability to collect the data, manage it, and then also make sure that you identify what
is missing.
The key to the types of math that they use are market sizing math.
Where they often will leave one piece of the market sizing equation out.
Chart interpretation – where they will have a data list of different pieces of data, where
they'll ask you to compare the data and gain the key insights from it.
They will also have segmentation data, where they will break up one customer's segment
into different key segments and help you identify which one is maybe the most attractive, or
the least attractive, as you are using different metrics.
Across the board, these are the three most common types of math.
Of, course there are able to test just about anything – but those are the most common
types that you will generally see.
Like I have mentioned already, Mckinsey often leaves one piece of data out.
So it is really important, in Mckinsey cases, to make sure that you identify what data you
have, and what might be missing.
They do not usually leave more than one piece out.
They are not leaving two, or three pieces out.
So you don't have to feel like you are missing everything.
But there is often one piece that they do leave out.
They want to make sure that you are mastering the data, and the data is not mastering you.
The final thing that is important to know about Mckinsey math is that the end point
of the math questions isn't obvious.
Sometimes when you come to the end of a Mckinsey math piece – the thing that they are really
looking for is your ability to interpret the number.
So they are not just waiting for you to arrive at the answer.
Although the answer is correct.
Its important that it is correct, it is important that your not assuming around it, that you
are getting the accurate answer.
But they are also, at the end, looking for that extra special something in the interpretation
of the data.
So, make sure that you're driving beyond just getting the correct answer that will match
up with their answer, but also interpreting the data for the key insights.
So, what are some key ways that you can make sure that you win at Mckinsey interviews.
Well, first of all, if you have got a Mckinsey interview in the first place, congratulations.
They are pretty hard to come by.
So you need to make sure that you walk into the interview and enjoy yourself.
But we do have some specific tips for Mckinsey style interviews that we want to lay out for
you.
The first thing is that Mckinsey people, and in general Mckinsey cases, require that you
are highly structured.
What I mean by that is that you don't generally want to look at general areas or key issues.
You want to come out of the gate with an incredibly poignant, pointed structure – where you
are walking through each step along the way.
In a very, almost what seems jerkey or jagged fashion.
You want to make sure that you are isolating key issues, and identifying what the core
roots are, and that you are moving on quickly as you are doing that.
The second thing that is helpful is that for Mckinsey, you can often pause, and ask for
a minute, if you need to collect your thoughts.
Because structure is so important to the Mckinsey interview, its really critical that you makes
sure, if you need it, you take time to plan.
So you are not caught in a trap of rambling on, or going down a rabbit whole that you
do not want to go onto.
In general, still for Mckinsey interviews, like all other interviews, you cant take time
every step of the way along the case.
But if you need it, they are generally more lenient for you to take a moment to prepare
your thoughts, as opposed to other types of case interviewers.
The third thing that you need to know for Mckinsey cases is that you need to make sure
that you know where the math is headed.
Often times, if they give you a verbal data dump at the beginning of the math question
– the end of it will be the hardest thing for you to catch.
Because you will be trying to keep up.
But it is very critical that before you get started with the math, you confirm where the
data is headed.
That you know, for example the units, that the final answer is supposed to be in, so
you do not make a mistake.
It is very common that I give cases to people, where I am asking for total market share,
but they give me total revenues.
Or where I am asking for the overall growth rate, they just give me the baseline profitability.
So oftentimes in Mckinsey cases, people can keep up to a certain point, but not all the
way until the end.
So, before you get started with any calculations, make sure you have captured all the data.
The fourth thing that is important to know in notes to win, is that it is critical in
Mckinsey cases that you offer hypotheses whenever possible.
Mckinsey is the most hypothesis driven firm, they care the most about hypotheses and they
really like to see them in their interviewer.
So, if you can give a hypothesis at the beginning of the case, especially if it is an intelligent
and likely correct one – it is really going to work in your favor as you are working through
the Mckinsey case.
Because you can use each piece of the data that they then throw at you to wither corroborate
the hypothesis, or work to reject it, throughout the case.
And the final thing that is important to know, is that for Mckinsey, they are looking for
consistent internal structure.
So not the overall structure, they are going to lead you through that.
They are looking for consistent internal structure, every time they present a new question to
you.
And it involves three pieces.
First of all – confirm what you heard.
Second of all – add value, by interpreting the information, offering new brainstorming
ideas, or doing a calculation.
And then finally – finish by pointing to the next step.
One of the key traps that a lot of people fall into in Mckinsey cases is that, because
they are interviewer led, they sit back in their seats, and they don't push themselves
to think about what the interviewer is likely to do next.
One of the best ways to win at Mckinsey cases is to propose a next step that is similar
to what the interviewer is thinking they want to do as well.
So, across the board, you've got some information now about the style of Mckinsey interviews.
You've got information about Mckinsey math, and finally you have information about the
overall tips to win at Mckinsey interviews.
If you've got more questions, or want to work with us in order to prepare for a Mckinsey
interview – please visit us at our website: Managementconsuled.com