Great interviews equal great offers! Review this section for a wealth of information on interview preparation, case interviews, phone & virtual interview, behavioral interview, common interview questions and what to do after an interview to seal the deal.
How to Prepare for an InterviewThe case interview is a unique and challenging process that enables the recruiter to assess the candidate’s analytical and creative skills. Typically, consulting and investment banking firms utilize the case interview at some point in the interview process, although more and more marketing and finance companies are adopting this strategy in their own recruitment efforts.
There is only one good way to prepare for a case interview, and that is PRACTICE!
Use this Questrom Case Interview Guide for sample cases and additional resources.
When interviewing with a firm, try to keep in mind the type of work that they do since the interview cases will reflect the particular company’s area of expertise. Also, talk to students or alumni who have interviewed with the firm before and ask what type of questions they were asked. Here are additional tips and steps you can follow to continue to prepare:
In estimation cases you are asked to come up with an “educated guess” of some number, such as the classic, “How much does a Boeing 747 weigh?” While the questions may sometimes seem “off the wall,” estimation is an important skill to possess in consulting work. As a consultant, you will often have to make decisions based on incomplete or unavailable data, in which case it becomes important to generate reasonable estimates. In these types of exercises it is not important whether your assumptions are right or wrong, but to make sure that your estimates are at least reasonable based on common sense. For example, if one of the assumptions you make is about the U.S. population, do not say that you assume it is 10 million. Estimation problems are based on logical reasoning applied to a number of known data points (your assumptions) to arrive at the desired answer. Since your logic is what is tested, lay it out clearly for the interviewer. Before you start making assumptions, tell the interviewer what your logic is going to be to figure out the answer.
Mini cases are typically short and focus on a single problem. Often, the goal is to come to a solution rather than uncover the underlying causes of a problem. To solve these problems, it is recommended that you first define what the characteristics of the desired outcome would be. Then, brainstorm the ways that the company could deal with their problem; use this as an opportunity to be creative. Finally, tackle each idea in turn, drawing out the possible issues involved and setting them against the criteria for the desired outcome (i.e., to avoid high expenditures). After evaluating each of the ideas you have generated, choose a solution from among those that meet all of the desired criteria
Business cases are generally longer than mini cases (20 to 30 minutes typically) and test your business skills in addition to your logical reasoning skills. Much of your core course work is applicable in these cases. Consulting firms rely heavily on general business knowledge and expect you to be able to integrate the concepts from your courses in analyzing a business situation. A case interview is typically an interactive process and most likely the interviewer will volunteer additional information as the interview progresses or when you ask questions. It is important to gather as much information as you need. The amount of information you receive up front can differ greatly depending on the style of the interviewer and the type of case you get. It may make sense to jot down some quick notes to help you remember the pertinent facts. Other interviewers start out with a simple two sentence summary and expect you to probe for more information by asking thoughtful questions. Remember, it is acceptable to ask questions. One of the most valuable skills of a successful consultant is the ability to ask the right questions. On the other hand, be careful not to spend too much time asking a lot of factual questions. It may become difficult for the interviewer to follow your logic and you may seem to be taking a shotgun approach to solving the problem. Keeping that in mind, always make sure that you think out loud so the interviewer understands how you are formulating your questions. The critical skill being evaluated in the business case interview is whether you can solve a business problem in a logical and coherent fashion. It is important not to ramble and jump from one hypothesis to the next, but rather to use a logical framework to attack the problem. Think logically about a good way to approach the problem. You can take some time on this. It is no problem to be silent for a moment while you consider your approach. This makes you look thoughtful and is much better than starting to ramble and run around in circles.
Income Statement: A simple income statement is often a very valuable framework to use. By analyzing profitability through its component factors such as revenues, cost of goods sold, and operating expenses, you can quickly pinpoint the direction in which to focus your analysis.
Four Cs: To analyze a company’s strategy in terms of its chosen market position, you have to evaluate the different factors that will determine its success.
SWOT Analysis
Four P’s: Useful for marketing-related cases such as new product introductions, new market developments, and market share increases. Remember that the four P’s are the implementation of a strategy that first depends on the selection of a target customer segment and a product positioning: Product, Price, Place, Promotion.
Seven S Framework: Useful in determining sources of competitive advantage for a company: Structure, Strategy, Skills, Staff, Style, Systems, Shared Values.
Porter’s Five Forces Framework: Used to evaluate the attractiveness of an industry in terms of the ability to earn high returns: Barriers to Entry, Bargaining Power of Buyers, Bargaining Power of Suppliers, Availability of Substitute Products, and Level of Competition Among Firms.
When you have selected a framework to build your case on, you need to apply it. Lay out the framework for the interviewer and start analyzing it branch by branch. Listen carefully to any clues the interviewer may give you. When you go down the wrong path (or a different path from what the interviewer had in mind), you will often be redirected by comments from the interviewer. If you learn from the comments that the type of framework you have chosen does not fit the problem, do not be afraid to discard it and use another one. As in any interview, it is important to be yourself and be relaxed when analyzing the problem. When you get stuck, you can summarize what you have found out up to that point. That helps the interviewer trace your line of thought and buys you some time to think about where to go next. Always think out loud so the interviewer understands your train of thought and state your assumptions. When you need a piece of factual information to help you along with your analysis, ask. The interviewer will realize its relevance if he or she is able to follow your logic and should be willing to volunteer the information.
Phone
Telephone interviews are becoming more frequently used for first-round screening interviews, and companies conduct these types of interviews primarily for cost reasons. By asking some key questions of candidates about their skills, career objectives and training, a company determines the value of bringing them in for a face-to-face interview. Your goal for a telephone interview is to get the in-person interview. If you are being interviewed on the phone, consider the following tips, in addition to reviewing general interviewing tips.
Virtual
Interviews can also be done in a virtual setting via Skype, another webcam service, and avatars are also being used by some companies. Virtual interviews present their own unique challenges. In addition to the suggestions for phone interviews, strategies are provided below:
Technical questions are common in fields where very specific information or tools tend to be used. Technical questions can vary and may be on topics from software to concepts. A few important tips and suggestions for answering technical questions are:
Pre-Interview Tests are becoming more common for companies to utilize. Some companies may use these prior to a first round interview while other companies may use them in place of an interview or during the course of the interview in later stages. A few important things to remember are:
For examples of pre interview test types, sample questions, and further resources, please view the Pre-Interview Tests Guide.
Behavioral InterviewsBehavioral questions ask the interviewee to provide examples and results of actions. For example, you might be asked, “Tell me about a time when you handled a difficult situation.” To best address these questions, develop strong examples prior to the interview that relate to the position description, and use the BAR method (as shown below) to structure your answers. It is also important to practice these responses in a mock interview and on your own prior to the interview.
B=Background Set up briefly the stage/context of the situation.
A=Action What literally did you do?
R=Result What was the result of your actions?
BACKGROUND | ACTION | RESULT |
Last semester I was on a team with five classmate to work on a project. After the first few meetings, we realized one member frequently arrived to meetings late or not at all. | I approached this team member directly to talk about expectations and missing meeting. I also asked if there was anything I could do to help him meet those commitments. | The team member admitted lack of good time management skills. I offered to send hims day-of reminders and he was never late or missed another meeting again. |
Behavioral question examples:
First impressions can often determine your success. Make the best possible first impression through your appearance, behavior, and timeliness. You can communicate additional positive messages through the following non-verbal behaviors:
A good interview should be comfortable, even if difficult questions are asked. Here are a few quick tips to remember during the interview process.
Close the Interview
Interviewers normally initiate the close by standing, shaking hands, and/or thanking you for coming to the interview. At this point, if not prior, they should discuss timelines and next steps. Should they not do this, you may ask. Below are examples of questions you may ask during the close as well.
The interview process can sometimes include an invitation to lunch or dinner with a recruiter or hiring manager. Do not be fooled — even though the situation may seem more relaxed than a formal interview, you are still being evaluated and it is best to be prepared. It is important to follow several rules of etiquette:
Education
Work Experience
Career Goals
Personality and Other Concerns
Technical and Professional Knowledge Questions relate to level of understanding and ability to apply it
Teamwork Questions relate to ability to work with other (peers, other units, senior management) to accomplish organizational goals
Analysis
Ability to Adapt Times of turmoil are finally good for something! Think of a recent work crisis you successfully navigated. Even if your navigation didn’t feel successful at the time, find a lesson or silver lining you took from the situation.
Work Standards
Initiative
Planning and Organizing
Communication Skills You probably won’t have any trouble thinking of a story for communication questions, since it’s not only part of most jobs; it’s part of everyday life. However, the thing to remember here is to also talk about your thought process or preparation.
Client-Facing Skills If the role you’re interviewing for works with clients, definitely be ready for one of these. Find an example of a time where you successfully represented your company or team and delivered exceptional customer service.
Time Management Skills In other words, get ready to talk about a time you juggled multiple responsibilities, organized it all (perfectly), and completed everything before the deadline.
Motivation and Values A lot of seemingly random interview questions are actually attempts to learn more about what motivates you. Your response would ideally address this directly even if the question wasn’t explicit about it.
Sensitivity
Prepare for Objections and Negatives The following are questions that interviewers may not pose, but do consider. It is important that you relay your interest in the position and the company with all of your answers so that these questions are answered in a positive manner, without needing to be verbalized.
REFERENCES
Potential employers may want to talk to people you have worked with or who know you well to verify information on your resume, find out what it is like to work with you and ask questions about your skills and personality. These are your references. Offer references only if asked.
Who and How to Ask
How to Format Your Reference Sheet
Sample Reference List
Connick Jackson, Jr. Director of Development – South Beach Analysis
123 Huntington Road Boston, MA 02215
(617) 555-7890, cjackson@southbeach.com
Relationship: Internship supervisor
Dr. Michael Oberoff Professor of Political Theory – Boston University
595 Commonwealth Avenue Boston, MA 02215
msheen@bu.edu
Relationship: Worked with professor as TA
RECOMMENDATIONS
Recommendations, while not as common, are a written form of reference. Letters of recommendation describe your relationship to the author, their opinions about your work ethic, your strengths and potential. The author sometimes includes a phone number if the reader would like additional information. Letters of recommendations can be written by your references and should be dated within 6 months.
Thank You NotesSend a thank-you letter within 24 hours of your meeting. This is a vital part of the interview process and one too often ignored by job seekers. Depending on the company culture, send either an email or a hand-written note, as long as you have clear handwriting. Here are some more tips:
The follow-up often determines who gets the job!
Boston University Questrom School of Business
Undergraduate Development Center
Rafik B. Hariri Building
595 Commonwealth Avenue, Suite 102
Boston, MA 02215