20 Case Interview Tips To Get 2x Better Immediately

Summary

This 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.