Preparing For Case Interviews: Tips

Author: Jerry Zhang

Management consulting firms conduct case interviews as part of their overall recruitment process to identify suitable candidates. As intimidating as case interviews may seem, adequate preparation can really improve the odds of successfully cracking a case. The first step in preparing for case interviews is to understand why case interviews are used by recruiters to filter candidates and what consulting firms look for in their candidates. 

What is a case interview and why is it important?

A case interview is a hypothetical client scenario that is meant to simulate actual work situations faced by consultants. It allows interviewers to assess how well candidates can approach the situation, structure the problem, come up with evidence-based solutions, and communicate the recommendations in a client-friendly manner. Throughout the case interview, interviewers are trying to decide whether they are comfortable with assigning the candidate to work with a real client. 

In general, interviewers want to observe how candidates would approach business problems and engage with clients. The most important characteristic is having a logical, structured, and consistent process in deriving the solutions. Your train of thoughts while solving the problem matters more than the actual solution itself. 

Frameworks

Having laid the groundwork, it is now time to learn and familiarize yourself with the theoretical frameworks. There are many established case solving frameworks, such as the profitability framework, the pricing framework, Porter’s 5 Forces, just to name a few. Case problems can oftentimes be complex and ambiguous. For instance, should the fictional ride hailing company enter the food delivery market? It can be really daunting when you first encounter with such a large problem, not knowing where to start. This is where frameworks come into play as they inform us on how to structure the problem and decompose it into smaller and more manageable pieces of problems. They allow you to simplify and organize your thoughts as you work through the problem. 

However, it is critical to remember not to stick to any standard framework when solving a case. The hypothetical business problems you encounter during case interviews are usually unique and can rarely fit perfectly into an established framework. Therefore, it makes more sense to use them as starting point and make necessary adjustments depending on the industry and other case-related details. At the end of the day, employers are aware of these frameworks too. They do not appreciate candidates that mechanically apply a recited framework – rather, they look for innovative solutions and the ability to contextualize the discussion for a specific problem. It requires candidates to use their business judgement to devise case-specific frameworks after gaining a thorough understanding of the client’s situation. 

Practice and familiarize yourself with various industries

Learning about the frameworks and theoretical approaches is only the beginning in the preparation for case interviews. It is key to partner up with friends and practise mock case interviews in order to familiarize yourself with the applications of the theories and with the actual interview process itself. Making mistakes while practising with friends is a lot less costly than during the actual interview. Adequate practise enables you to focus on the case itself rather than wasting time recalling which structure to use. Additionally, playing the role of an interviewer can help you become better prepared, since it allows you to observe how others approach a problem and work through it; thus helping you gain a better understanding of the characteristics of a desired candidate from the interviewer’s perspective.

Developing and improving your business acumen is another necessary preparation. It is especially important for those who come from a non-business background to develop a broad understanding of current events in the corporate world. Apart from learning the common business terms, it helps to maintain a habit of reading business related news and articles. Another effective practise is to become familiar with some common industries such as energy, manufacturing, and retailing. Researching the business model of companies in various industries as well as how they make money can gradually improve your business sense. 

Mental Math

Last but not least, honing your mental math should also be part of your preparation plan, as you will inevitably need to make some quick calculations during the interview. Unlike other aspects of the case interview, the math section is the most straightforward to prepare for – and thus, multiple mistakes could significantly negatively impact your candidacy. 

Practice, Practice, Practice!

All in all, case interviews assess a candidate’s problem-solving skills in real time; therefore, it is wise to do a lot of preparation as early as possible in order to be successful in your next case interview.