20 Case Interview Tips To Get 2x Better Immediately
Summary
TLDRThis video offers 20 essential tips to enhance case interview performance, potentially doubling your success rate. It covers understanding the business problem, summarizing case backgrounds, asking clarifying questions, and developing frameworks. The tips also include displaying enthusiasm, choosing easy numbers for calculations, and avoiding memorized frameworks. The script advises on structuring approaches, recommendations, and qualitative answers, emphasizing the importance of practice with over 700 free cases and a comprehensive course for mastering case interviews.
Takeaways
- 😀 Understand the business problem and objective to avoid addressing the wrong issue in a case interview.
- 📝 Summarize the case background and verify the objective confidently to make a strong first impression.
- 🤔 Ask clarifying questions to ensure a clear understanding of the case and its requirements.
- 🕒 Request time to develop a framework to show thoughtful organization and preparation.
- 🔥 Be enthusiastic to demonstrate passion for consulting and make the interview engaging.
- 📊 Structure your approach before calculations to avoid unnecessary work and dead ends.
- 🔢 Choose easy numbers for assumptions and estimates to simplify calculations under pressure.
- 📉 Round numbers when appropriate to ease the calculation process without losing accuracy.
- ✍️ Use abbreviations for large numbers to reduce errors and improve efficiency.
- 📚 Avoid memorized frameworks; instead, use a tailored approach relevant to the specific case.
- 🗣️ Talk through calculations out loud to minimize mistakes and help the interviewer follow your process.
- 📋 Keep track of calculations neatly to prevent errors and repetition.
- 🔎 Sense check your numbers to ensure they are in the correct order of magnitude.
- 📈 Discuss the axes of charts and graphs first to understand and relate the data effectively.
- 🤔 Answer 'so what' after each question to connect your response to the overall case objective.
- ⏱️ Ask for time to develop a recommendation to show thoughtful consideration before responding.
- 📢 Have a firm recommendation that is clear and supported by data and evidence.
- 🏗️ Structure your recommendation with a clear statement, supporting reasons, and next steps.
- 💡 Use a hypothesis-driven approach to guide your case analysis and refine your solution.
- 📝 Structure your answers to qualitative questions using a two-part framework for organized thinking.
Q & A
What is the main purpose of the video?
-The main purpose of the video is to share 20 case interview tips designed to help viewers avoid common mistakes and improve their performance in case interviews, potentially doubling their effectiveness.
According to the video, what is the first step to succeed in a case interview?
-The first step is to ensure you understand the business problem and objective. It's crucial to verify the objective of the case with the interviewer to avoid addressing the wrong issue.
Why is summarizing the case background information important?
-Summarizing the case background information is important because it creates the first impression on the interviewer and helps in articulating and confirming the case's objective confidently and clearly.
What should you do if you encounter unfamiliar terms or need clarification during the case interview?
-You should ask clarifying questions without hesitation. It is acceptable to ask for definitions of unfamiliar terms, clarification on the case objective, or repetition of important information to ensure a strong understanding of the case.
Why is it recommended to ask for time to develop a framework?
-Asking for time to develop a framework is recommended because it allows you to organize your thoughts and ideas effectively. Interviewers understand that creating a great framework takes time and do not expect instant perfection.
How does displaying enthusiasm during the interview benefit the candidate?
-Displaying enthusiasm makes the interview more engaging for the interviewer and demonstrates the candidate's passion for consulting and the firm, which are key characteristics interviewers look for in potential hires.
What is the significance of structuring your approach before doing any calculations?
-Structuring your approach before calculations helps to avoid unnecessary work or dead ends. It provides a clear roadmap for the interviewer to follow and ensures that the mathematical part of the case is straightforward once the approach is agreed upon.
Why should candidates choose easy numbers to work with during case interviews?
-Choosing easy numbers, like round figures, simplifies calculations, especially under the pressure of a case interview. It reduces the likelihood of making errors and does not compromise the validity of the assumptions or final answer.
What is the benefit of using abbreviations for large numbers during the case interview?
-Using abbreviations for large numbers, such as 10K for ten thousand or 200M for two hundred million, reduces the chance of accidentally adding or dropping zeros, thus minimizing calculation errors.
Why is it advised not to use memorized frameworks in case interviews?
-Memorized frameworks might not be tailored to the specific case, and using them can indicate a lack of critical thinking. Instead, candidates should have a list of broad business areas to choose from, ensuring a more relevant and customized approach to each case.
What is the importance of talking through your calculations out loud during the case interview?
-Talking through calculations out loud helps in two ways: it reduces the chance of making mistakes, and it makes it easier for the interviewer to follow your thought process, allowing them to offer guidance if needed.
How can keeping track of calculations help in a case interview?
-Keeping track of calculations neatly and organized helps prevent math errors and repetition of already completed calculations. It involves using separate paper for calculations, circling important numbers, and boxing final answers for easy reference.
What is a sense check and why is it important after each calculation in a case interview?
-A sense check is a quick verification to ensure that your answer is within the correct order of magnitude. It helps avoid common math mistakes like missing or adding extra zeros and confirms that the calculation aligns with expected outcomes.
Why should you talk through the axes of charts and graphs when interpreting them in a case interview?
-Talking through the axes of charts and graphs is the most effective way to understand what the visual data is showing. It also helps in understanding the relationship between multiple charts or graphs when they are presented.
What does the 'so what' approach involve after answering a question in a case interview?
-The 'so what' approach involves reflecting on the implications of your answer after responding to a question. It encourages you to consider how your answer contributes to solving the overall business problem and ties back to the case objective.
Why is it recommended to ask for time before delivering your recommendation at the end of the case interview?
-Asking for time before delivering your recommendation allows you to gather and organize your thoughts, ensuring a well-structured and clear recommendation. Interviewers expect this pause and understand that developing a great recommendation requires thoughtful consideration.
What characteristics should a firm recommendation have according to the video?
-A firm recommendation should be clear, take a definitive stance, and not waver between different options. It should be supported by data and evidence, demonstrating validity regardless of it being the 'correct' answer.
What structure should be used for a recommendation in a case interview?
-The recommendation should follow a clear structure: state the recommendation, provide two to three reasons that support it, and propose potential next steps. This structure ensures clarity and effectiveness in conveying your advice.
What is the benefit of using a hypothesis-driven approach during a case interview?
-A hypothesis-driven approach ensures focus on relevant areas for solving the case and helps refine the hypothesis as more information is gathered. It also prepares the candidate to deliver a well-considered recommendation by the end of the interview.
How should you structure your answers to qualitative questions in a case interview?
-Use a simple two-part framework to structure answers to qualitative questions. This approach facilitates brainstorming, demonstrates logical and structured thinking, and can involve frameworks such as internal-external, short-term-long-term, or benefits-costs.
What resource is mentioned in the video for additional case interview practice?
-The video mentions over 700 free practice cases from 23 MBA Consulting case books as a resource for additional practice. Viewers are directed to a linked video in the description for details on accessing and using these cases.
What additional support is offered for those looking to learn case interviews quickly?
-For a step-by-step shortcut to learn case interviews, the video recommends a comprehensive case interview course and books. Links to these resources are provided in the video description.
Outlines
📘 Essential Case Interview Tips
This paragraph introduces 20 case interview tips designed to enhance performance and avoid common mistakes. It emphasizes understanding the business problem, summarizing case information confidently, asking clarifying questions, developing a framework, and displaying enthusiasm. The tips also include structuring the approach before calculations, choosing easy numbers, rounding appropriately, using abbreviations for large numbers, and avoiding memorized frameworks. The speaker, a former interviewer, highlights the importance of these tips and encourages viewers to watch the entire video for unique insights.
🔍 Advanced Case Interview Strategies
The second paragraph delves into advanced strategies for case interviews, such as discussing calculations out loud to reduce errors and facilitate interviewer understanding, keeping track of calculations to avoid repetition, and performing sense checks on numerical answers. It also advises on interpreting charts and graphs by examining axes first, answering 'so what' after each question to tie responses to the case objective, and developing a recommendation at the end of the interview. The paragraph stresses the importance of a firm, structured recommendation and using a hypothesis-driven approach throughout the case.
🚀 Maximizing Case Interview Preparation
The final paragraph focuses on the practical application of the discussed tips by encouraging practice with over 700 free cases from various MBA consulting case books. It also promotes a comprehensive case interview course and books for a step-by-step shortcut to mastering case interviews. The paragraph aims to save candidates time and increase their chances of securing consulting job offers by learning robust and effective strategies.
Mindmap
Keywords
💡Case Interview
💡Business Problem
💡Objective
💡Framework
💡Clarifying Questions
💡Enthusiasm
💡Abbreviations
💡Sense Check
💡Recommendation
💡Hypothesis
💡Qualitative Questions
Highlights
The video offers 20 case interview tips to improve performance and avoid common mistakes.
Following these tips can potentially double one's case interview performance.
Track how many tips you already follow to gauge your current standing among interview candidates.
Tip 1: Ensure understanding of the business problem and objective to avoid addressing the wrong issue.
Tip 2: Summarize case background and verify the objective confidently to make a strong first impression.
Tip 3: Ask clarifying questions to strengthen understanding and avoid misinterpretation.
Tip 4: Request time to develop a framework, acknowledging that it takes time to create a thoughtful approach.
Tip 5: Display enthusiasm to demonstrate passion for consulting and make the interview engaging.
Tip 6: Structure your approach before calculations to avoid unnecessary work and dead ends.
Tip 7: Choose easy numbers for assumptions and estimates to simplify calculations under pressure.
Tip 8: Round numbers when appropriate to simplify calculations without losing accuracy.
Tip 9: Use abbreviations for large numbers to reduce errors in handling large figures.
Tip 10: Avoid memorized frameworks; instead, tailor your approach to the specific case.
Tip 11: Talk through calculations out loud to decrease errors and help the interviewer follow your process.
Tip 12: Keep track of calculations neatly to prevent mistakes and repetition.
Tip 13: Sense check numbers after calculations to ensure they are within the expected magnitude.
Tip 14: When interpreting charts, start by understanding the axes to grasp the data's context.
Tip 15: After answering a question, consider its implications for the overall case and recommendation.
Tip 16: Request time to formulate a recommendation at the end of the interview for clarity and depth.
Tip 17: Have a firm recommendation that is consistent and supported by data and evidence.
Tip 18: Structure your recommendation clearly with supporting reasons and next steps.
Tip 19: Use a hypothesis-driven approach to focus on relevant areas and refine your answer.
Tip 20: Structure qualitative answers with a two-part framework to demonstrate logical thinking.
700 free practice cases are available for download to enhance case interview skills.
A comprehensive case interview course is offered for a step-by-step learning shortcut.
Transcripts
if you're looking to improve your case
interview performance in a short period
of time then this video is for you I'm
going to be sharing with you 20 case
interview tips that will help you avoid
making over 90 of the most common case
interview mistakes these 20 tips can
collectively improve your casing of your
performance by up to two times as we go
over these tips keep track of how many
you already follow
if you get 16 or more you're likely in
the top 10 percent of case interview
candidates
out of the hundreds of people I've
interviewed as a former band manager and
interviewer the 10th and 20th tip that
I'll share with you are ones that I've
only seen a few candidates use so make
sure that you watch until the end
tip number one make sure you understand
the business problem and objective the
quickest way to fail a case interview is
to answer or address the wrong business
problem when the interviewer starts the
case by reading the case background
information it is important that you
identify what is the business problem
and what is the primary question you're
trying to answer
you should always verify the objective
of the case with the interviewer
tip number two summarize the case
background information and verify the
objective articulately and confidently
after the interviewer reads the case
background information you'll be
expected to summarize the case
background information and verify the
objective of the case this is the very
first impression that you'll make on the
interviewer therefore it is important
that you articulately and confidently
summarize the case and verify the
objective this step of the case
interview is not difficult making it an
easy opportunity to make a great first
impression
tip number three ask clarifying
questions if needed don't be afraid to
ask clarifying questions you will not be
penalized for this if there is a term
that you are unfamiliar with ask for the
definition if you don't understand the
objective of the case ask questions to
clarify this if there is important
information that you are not able to
write down ask the interviewer to repeat
specific pieces of information
all of these questions will help
strengthen your understanding of the
case situation and make it easier for
you to solve the case
tip number four ask for time to develop
a framework don't be afraid to ask for a
few minutes of silence so that you can
organize your thoughts and ideas into a
framework no interviewer expects you to
instantly have the perfect framework
after they finish reading the case
background information to you developing
a great framework takes time and
interviewers know this
tip number five be enthusiastic this tip
is very underrated display enthusiasm
this not only makes the interview more
fun and interesting for the interviewer
but it also demonstrates that you are
passionate about Consulting and working
at The Firm
interviewers want to hire candidates
that love their job and work hard
displaying enthusiasm is a key indicator
for these characteristics
tip number six structure your approach
before doing any math calculations
before doing any math lay out an upfront
structure or approach to walk the
interviewer through what you're about to
do developing a structure will help you
avoid making unnecessary calculations or
reaching a dead end
if the interviewer approves of your
approach the rest of the math problem is
simple arithmetic
tip number seven choose easy numbers to
work with it's difficult to do case
interview math quickly and accurately
under high pressure situations so if you
get the opportunity to make assumptions
or estimates choose round numbers that
are easy to work with why make the
calculations more difficult for yourself
using precise numbers neither makes your
assumptions better nor makes your final
answer more correct anyways
tip number eight round when appropriate
look for opportunities where it may be
appropriate for you to round numbers to
make the calculations easier for
yourself for example if you are
multiplying nineteen thousand nine
hundred ninety nine by 201 ask the
interviewer if you could round these
numbers and multiply 20 000 by 200
instead
you do not want to round numbers in
every single step because that may
indicate that you are uncomfortable with
doing math however the occasional
rounding is usually acceptable
tip number nine use abbreviations for
large numbers if you are working with
large numbers in the thousands millions
billions or trillions use letter
abbreviations rather than writing out
all of the zeros
for example ten thousand can be
expressed as 10K 200 million can be
expressed as 200 M and 300 billion can
be expressed as 300b this reduces the
chances that you'll accidentally add or
drop a zero in your numbers
tip number 10 don't use memorized
Frameworks the issue with memorized
Frameworks is that they aren't tailored
to the specific case that you are
solving for many times some of the
elements of your memorized framework
will not be relevant or important to the
case interviewers can also tell when you
are regurgitating memorized information
and not thinking critically instead of
memorizing Frameworks memorize a list of
8 to 10 broad business areas such as the
following Market competition company
customer financials Alternatives and
risks when given a case mentally run
through this list and pick the three to
four areas that are the most relevant to
the case
if the list does not give you enough
framework areas brainstorm and add your
own areas to the framework
we are halfway through these 20 case
interview tips how are you doing so far
if you're finding this video helpful
please take three seconds to give this
video a like And subscribe to the
channel so that you don't miss any of
our new Consulting case interview
content
number 11 talk through your calculations
out loud
talking through your calculations out
loud provides two benefits one it
decreases the likelihood that you'll
make a mistake and two it makes it
easier for the interviewer to follow
what you are doing if you happen to get
stuck or make a mistake the interviewer
can jump in to offer suggestions or
Guidance the interviewer cannot do this
if you're not communicating exactly what
you are doing
tip number 12 keep track of your
calculations it is important to keep
your calculations neat and organized to
prevent making math mistakes and to
prevent repeating calculations you have
already done
first do your calculations on a separate
sheet of paper to give yourself more
space second as you calculate different
numbers Circle important numbers that
you are likely to use over and over
again
third draw a box around your final
calculated answer to make it easier to
find later
tip number 13 sense check your numbers
accidentally missing zeros or adding
extra zeros during your case interview
calculations is the most common math
mistake to avoid this you can do a quick
sense check after each calculation to
confirm that your answer is in the right
order of magnitude for example if you're
multiplying 115 Million by 22 you should
expect that your answer to be in the
billions because a hundred million times
20 equals 2 billion
tip number 14 talk through the axes of
charts and graphs
when given charts or graphs to interpret
the very first thing you should do is to
look at the axes this is the most
effective way to understand what the
chart or graph is showing when you are
given multiple charts or graphs this
will help you understand how each chart
or graph relates to each other
tip number 15 answer so what after every
question when the interviewer asks you a
quantitative or qualitative question
during a case interview don't just
answer it and stop there after answering
the question ask yourself so what how
does your answer help you solve the
overall business problem what
implications does your answer have for
your potential recommendation you should
be tying each answer that you give back
to the case objective
tip number 16 ask for a time to develop
a recommendation at the end of the case
interview the interviewer will ask you
for a recommendation don't be afraid to
ask for a minute to gather and collect
your thoughts before delivering your
recommendation
no interviewer expects you to instantly
have the perfect recommendation when
prompted for one developing a great
recommendation takes time and
interviewers know this
tip number 17 have a firm recommendation
you do not want to have a flimsy
recommendation where you switch back and
forth between two different
recommendations instead have a
recommendation that takes a Firm Stance
remember there is no right or wrong
answer as long as your recommendation is
supported with data and evidence your
recommendation is valid tip number 18
structure your recommendation your
recommendation should be clear and easy
to follow therefore use the following
structure clearly State what your
recommendation is provide two to three
reasons that support your recommendation
and propose potential next steps this is
a simple but highly effective structure
tip number 19 use a hypothesis driven
approach
during the case interview you should
have a hypothesis of what the answer to
the case is a hypothesis is simply an
educated guess based on the knowledge
that you have
as you analyze data and gather more
information make sure you are constantly
changing and refining your hypothesis
there are two benefits to using a
hypothesis to drive the direction of the
case one it ensures that you are
focusing on the relevant areas that will
help you solve or answer the case two by
the time the interviewer asks you for a
recommendation you will already have a
refined hypothesis on what the answer or
solution to the case should be
tip number 20 structure your answers to
qualitative questions during a case
interview you may be asked to brainstorm
ideas
instead of listing the first few ideas
that come to your mind use a simple
two-part framework to answer the
question in a more organized way this
will help facilitate brainstorming and
demonstrate that you are a logical
structured thinker you can use a
two-part framework such as the following
internal external short-term long-term
economic non-economic direct indirect
benefits costs and upside downside
now that you know these 20 case
interview tips it's time to practice
we've compiled over 700 free practice
cases from 23 MBA Consulting case books
watch our video Linked In the
description below to see exactly where
you can download them and how to use
them last important message for you if
you're looking for a step-by-step
shortcut to learn case interviews
quickly check out our comprehensive case
interview course and books links are in
the video description we teach the most
robust effective case interview
strategies in the least time-consuming
way to save you hundreds of hours of
prep time and help you land multiple
consulting job offers
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