I've been asked on how I went about preparing for my McKinsey interviews and today I'll write about the same. I must start with the caveat that this is what worked for ME and its A way of preparing, please use the below as starting points/food for thought. Some things will sound obvious and since I am targeting a wide audience, feel free to cherry pick bits- if thats what works for you. Also, I'd like to apologize for the length of this post. But I hope that the next few minutes of reading will be time well spent :)
Right then, the first thing to do to meet/exceed a goal is to identify the goal. The goal in this case was to land a job with McKinsey. The next step was to break the goal into its components (a skill that I am told is very important in a consultant's life). The hiring process for McKinsey (barring the PST the process is common to most other consulting firms) was broken into 3 steps:
1. CV shorlisting
2. Problem Solving Test
3. Interviews
3a) Personal Experience
3b) Cases
1.
CV shortlisting: The key messages should be easy to spot in the CV and present the facts in an easy to digest format (don't tell them you are smart, show you are smart) Ensure you are being clear about the outcomes of any initiatives and try to be as objective as possible (X $s were saved, turnaround time was reduced by Y, customer satisfaction increased by Z, etc) Other than that also consider your own story. People want to work with people and not automons (well most want to:)) so do convey successes not limited to just your work (I worked on rejuvenating a lake in Bangalore and mentioned it on my CV) Have 2-3 of your friends/people in careers team at your B-school review your CV to ensure a stranger sees as much impact from the CV as much as you do.
2.
Problem Solving Test (PST): The multiple choice test is comprised of 26 questions and lasts 60 minutes. Its broken up into 3-5 cases and questions are GMAT-ish at the higher end on the difficulty scale. For the test one should prepare for maths (no calculators allowed in the test) and Critical Reasoning type questions from GMAT. Not to forget speed. One could use stuff like GMAT 800, the OG and aim to answer questions quickly. I know people who had lost touch with these questions and couldn't attempt all questions because they were slow. Avoid this trap by practicing tough questions with a clock. There is also no negative marking for wrong answers so at least attempt all questions. Some more info about the test: http://www.mckinsey.com/Careers/Apply/Problem_solving_test
3.
Interviews: This is the big daddy and the segment I found most interesting. Interviews are conducted mostly face to face and candidates will typically have 2 rounds of interviews with each round having 2-3 interviews. In the first round one can expect to be interviewed by Associates and in the second round expect Principals or Partners. The first round could be conducted in the McK office closest to you and the final round in the office you are applying to. Each interview is broken up into 2 sections. The first one is Personal Experience and the second is the case.
3a)
Personal Experience (PE): this is the section where the interviewer tries to get a flavour of how one is an individual and whether (s)he would fit well in the organization. Firms would typically ask questions about a situation when you would have led a team through a tough change, times when you managed up, when you showed leadership, drive and influencing skills. Simply put these are skills a consultant exercises everyday and they want to check any evidence of these skills in your experience. Most people mistake this to be the lesser important of the two parts and think of having 'just a chat' before the 'real casework' begins. I beg to disagree. Think of this time as your chance to differentiate yourself from the next person who might do equally well on his/her case. Think of a compelling story that articulates the above skills. Try telling the story in the SAR (Situation, Action, Result) format . Say the story out loud and time yourself. I gave myself a target of 2 minutes to tell the whole story. I'd suggest keeping your target as close to that as possible. Get your friends to listen to the story and ascertain if all the challenges & successes are coming across clearly or not. And then re-tell the story. Ideally aim for 2-3 stories for each dimension (e.g., Leadership, Drive, Influence, Teamwork, etc) and there could be stories that work across dimensions. But still, have a good bag full of stories to choose from on your interview day.
3b)
Cases: This needs a firm specific strategy. Whilst most firms might arguably be looking for similar traits in the PE section, many firms run cases in their own way (some may be interviewer led, others may be interviewee led, some may present a clear para-long problem statement, others may offer a one line problem, etc) . So some prep work might be common and some unique to the firm you are looking at. Here are the key bits I'd suggest to prepare for this part of the interviews:
i) Case in point- Case in Point by Marc Cosentino is a good starting point for your case prep. Use it to understand the basics of case interviews, the types of cases and some simple practices. I don't endorse rigid frameworks and don't recommend mugging them up but Case in Point is definitely good for some case types e.g., estimation cases. Also, it can provide for some structure to define a problem/solution tree.
ii) Victor Cheng- Victor is a McKinsey alum and has prepared some material on caseinterview.com. I'd strongly recommend viewing his video-taped class at HBS and also his Look Over My Shoulder (LOMS) audios. In LOMS, Victor shares audio recordings of case interviews, rates the interviewees and points out what went well/not so well in each interview. Some of the better rated cases are good examples to emulate and give an idea of how one should hypothesize and structure one's argument in a case.
iii) David Ohrvall and MBAcase.com- David is a Bain alum and presented in Said Business School a couple of times and his sessions were invaluable. Also helpful are his case videos at: http://www.mbacase.com/ctcs/videos/ctcs-library.htm The page has one minute problem statements followed by a minute or so long of hypothesis. Its a good way to get your mind to thinking about hypotheses and structuring a argument.
iv) Casebooks- Practice cases from casebook from different schools. For instance there are books from Insead, LBS and Columbia and some of the cases mention which firm were they asked in. These give a real practice problem and provide an opportunity to practice cases with a friend.
Lastly, one could be brilliant and still fumble at one of the steps. Don't worry, people who are smart and hardworking and are not consultants also succeed in life. Learn from your failures and avoid making the same mistakes again! Good luck with your interviews and job search!!