Thứ Bảy, 26 tháng 10, 2013

3 Reasons Why McKinsey Interviews Are NOT So Difficult

McKinsey has consistently topped Glassdoor.com's annual list of Top 25 Most Difficult Companies to Interview.  Although getting into McKinsey and other top management consulting firms is challenging (see the companion piece on "Why McKinsey Interviews Are So Difficult"), you can leverage certain aspects of the interview process and make it less difficult to get a job offer.  In this post I'll discuss a few of those factors...


McKinsey interviews are tough, but they are also predictable.  If you understand what to expect, you can prepare properly and increase the likelihood of getting that elusive job offer.

Although these factors are specific to McKinsey, my understanding - from chatting with friends who have interviewed candidates for other firms - is that they also apply at other top-tier consulting firms like Bain and BCG.

1. Transparency

McKinsey is very clear about what will happen during your interviews and what they'll be looking for - they post the details on their webiste.  That means you'll know exactly how you need to prepare.  I've also posted some additional details on what your first-round and final-round interview days will look like.  The Firm wants the best candidates available - it's in McKinsey's best interest to make sure all candidates are well-prepared to able to show their maximum performances in their interviews.

You will be given personal experience interviews (PEI) that are used to probe on what makes you distinctive in terms of:
  • Personal impact
  • Entrepreneurial drive
  • Orientation around achievement
  • Leadership abilities
Again, definitions of these dimensions are available on the "What We Look For" page of the McKinsey website.

You will be given case interviews that will test your problem-solving skills.  McKinsey's website clarifies what their interviewers will be looking for during case interviews.  McKinsey also offers several practice cases on their website.

Given all the information on interviews that McKinsey provides to candidates - plus all of the 3rd party sources, including this blog that are available - there's no reason for candidates to put forth anything but their best performance on interview day.

2. Consistency

McKinsey has to interview and hire thousands of candidates each year and the Firm wants to seat a uniformly high bar that new hires need to clear.  To accomplish this, McKinsey has developed a scoring rubric for both PEI and case interviews.  The scoring rubric defines the specific dimensions against which candidates are assessed during each type of interview.  Furthermore, there are clear, objective criteria that must be met to give candidates specific scores on each dimension.

In theory, this takes some of the variability out of the process.  And, having been in dozens of "decision meetings", it does appear to work as long as the scoring rubrics are followed.  As a candidate, you don't have to hope for an "easy" interviewer, pray that you don't get a "tough" interviewer, or hope to avoid someone who's in a bad mood or having a bad day.  You also don't have to worry about how your classmates are doing - on a given interview day, you're "competing" against an objective bar for performance, not your fellow candidates.

3.  You don't have to be perfect

McKinsey interviews have some room for error built into the process.  Unlike figure skating or downhill skiing, one stumble will not take you out of contention.  McKinsey realizes that candidates are human and might make mistakes - the Firm doesn't want to miss a great consultant because he or she flubbed one part of the interview.

You can afford to make a mistake or two as long as you exhibit distinctiveness (also known as a "spike") in other parts of your interview.  The more spikes you show, the more margin for error you have in other areas.

Interviewers are also trained to follow-up on areas where you might have exhibited weakness.  If you make a misstep, you'll likely get a second chance to show that your mistake was an anomaly.  So, shrug off that math error you made early in your case and make sure you knock the next calculation out of the park.

You also don't need to get to the "right answer" in case interviews.  The case interview is less about the answer you reach and more about how you get to your conclusions.  Furthermore, there can often be more than one good, acceptable answer to a given case question.  The case interview is more about how you get to your answers and how well you can communicate and support your recommendations.

Thứ Bảy, 19 tháng 10, 2013

3 Reasons Why McKinsey Interviews Are So Difficult

McKinsey has consistently topped Glassdoor.com's annual list of Top 25 Most Difficult Companies to Interview.  Getting into McKinsey and other top management consulting firms is certainly challenging, but there are very specific reasons why these interviews are difficult.  In this post I'll discuss a few of those reasons.  You might also be interested in the companion piece on "Why McKinsey Interviews Are NOT So Difficult"...


If you can understand what makes McKinsey interview tough, you can better prepare yourself, maximize your performance, and increase the likelihood that you'll make it to the next round or get that job offer.  My understanding - from chatting with friends who have interviewed candidates for other firms - is that these factors also apply to other top-tier consulting firms like Bain and BCG.

1.  You have to have a "spike"

Candidates must exhibit distinctiveness (also known as a "spike")in at least one dimension - and preferably more - across the case interviews and personal experience interviews (PEI).  This means it's not enough to not mess up or just do OK in all facets (also known as a "flat read" by assessors) of the interview to pass to the next round or get a job offer.  Bringing your "A" game is insufficient - somewhere in your interview, you have to exhibit some "A plus" game.

2. The bar is high

Just getting to a "flat read" can be tough, achieving a "spike" is even harder and it's not just enough to perform well relative to the other candidates.  There are objective criteria in a scoring rubric that must be met in order to get a passing and distinctive scores.  So, even if you're the best of the batch on a particular day, you still won't get a pass or job offer unless your performance clears a high, standardized bar.

3.  Preparation can only take you so far

Case prep can certainly improve your performance, but it's not a skill that you can master.  There's always a chance that a case will go deep in an area where you're weak or haven't prepared.  And it's rare that a case will perfectly fit a framework you've learned or memorized.  Case interviews are not about what facts or frameworks you know - they are about how you think through, approach, and break down a problem.  So you have to be broad, thorough, and flexible in your study and preparation and during the case interview, you have to be nimble, creative, and spontaneous

It's not like a vocabulary test that you can prepare for by memorizing a lot of words and roots.  It's more like preparing for a chess match - you know the rules but don't know in advance which approach your opponent will take or in what situation you might find yourself. 

Chủ Nhật, 13 tháng 10, 2013

McKinsey Interviews - 7 Tips for Interview Days

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McKinsey interviews can be challenging and stressful, so here are some tips for the day of your interview that can help you maximize your performance.  Of course, there's no replacement for good personal experience interview (PEI) and case interview prep.



Now you know how first-round and final-round interview days are structured and what to expect.  Here are some additional suggestions to go along with that knowledge...

Give yourself plenty of time

Everyone gives themselves enough time to arrive in time for their interview.  However, I'm always surprised at how many people cut it close and are clearly stressed out and flustered for their first interview because they had to rush and/or arrived just in time.  Remember, even after you arrive at the interview site, you still have to check in.  You'll also want to give yourself some extra time to hang your coat, review your interview packet, and get mentally prepared for your interviews.  In other words...

Get in the right frame of mind

What this means for optimal performance differs from person to person.  The most common forms of mental preparation are:


Read the interviewer bios

Take a moment to lean about the consultants who will be interviewing you.  Remember, they're not just assessing your performance on the case and PEI, they'll also be asking themselves what they think of you as a potential colleagueExamples of questions you might want to ask yourself as you read their bios:
  • Do you have anything in common?
  • Is there anything you can leverage to build rapport?
  • Does anything about your interviewers trigger specific questions you might want to ask?

 

Take water when it's offered

There are usually plenty of bottles of water around - always in the check-in area and often in the interview rooms.  Take one.  You'll be doing a lot of talking and under a lot of stress, so you can at least remove dry mouth from the list of reasons you might not perform well.

Bring a pen/pencil and plenty of paper

You'll be doing a case interview.  A writing implement and plenty of paper will come in handy as you jot down the pertinent details of the case, structure your problem solving approach and/or framework, walk the interviewer through public math, and keep track of your findings and recommendations.  You don't want to underperform on the case because you didn't bring enough paper.  Plus, you might want to take notes during any time for Q&A.

Be nice to EVERYONE

Remember, this not just about doing well on case interviews and PEI.  You're being assessed as a potential colleague and representative of the Firm.  If you are rude or cop an attitude toward anyone - a recruiter, the staff at the interview site - it's going to viewed as a reflection of your personality, professionalism, and how you might treat colleagues and clients.  No one wants to work with a jerk or risk putting one in front of a client.

Don't wait for your decision call with other candidates

It's tempting to commiserate with your fellow interview candidates while waiting for your decision calls, but consider how that will play out.  Let's suppose some of you decide to get drinks across the street after interviews - this is especially common during final rounds when candidates are on the road.  It might be great to have company and moral support until the decision calls come in.  Think about how awkward it will be to get your acceptance call while your fellow candidates are getting dinged.  Or how much more that turndown will sting when the person next to you gets called with an offer or pass to the next round.  Better to go your separate ways and be able to celebrate (or sulk) without having to worry about others.

Chủ Nhật, 6 tháng 10, 2013

McKinsey Interviews - What Happens on Final-Round Interview "Batch" Days

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Final-round interview (or "Batch") days at McKinsey are, in many ways, very similar to first-round interviews.  This post is a companion piece to an earlier one on what happens on early-round interview days.  Rather than rehash those details, I'll focus on the differences between first-round and final-round interview days.

How Final-Round Interview Days Differ From Earlier Rounds


Location


First-round interviews are typically held on-campus.  Final-round interviews are typically conducted at the McKinsey office location that would hire you.  McKinsey determines where you will interview based on your location preferences and the Firm's needs.

This means travel and McKinsey will make arrangements for you and pay for your trip.  If you have to fly to your final-round interview, McKinsey will pay for your travel expenses, one night of hotel, and meals, so you'll have to decide which option you prefer:
  • Fly in the night before, interview the next day, fly back afterward
  • Fly in the same day as your interview, interview, spend the night, fly back the next day
Batch days are typically on Fridays so you can elect to stay for the weekend, but McKinsey will only cover your expenses for one night.  If you get an offer, you'll have another opportunity - paid by McKinsey - to visit the office location again and spend an entire weekend having fun, getting wined & dines, and exploring the city.

Check-in

The only major difference is that you'll be part of a much smaller "batch" of candidates than during the first round.  You've already made it pretty far!

The cavernous hotel ballroom or career center waiting room will be replaced by a McKinsey conference room and some have fantastic views of what might become your new home city.

Wait for your interviewers

Instead of being surrounded by classmates you know or at least look familiar, you'll be meeting and waiting with candidates from many different schools.

You will also be waiting to be picked up by more senior interviewers.  Your first-round interviewers were primarily Senior Associates and Engagement Managers.  Second-round interviewers are Directors (Senior Partners), Principals (aka Partners), and Associate Principals.  In a smaller office on a busier batch day you might get an Engagement Manager.

Have your interviews

You will still be asked Personal Experience Interview (PEI) and case questions, but they might feel very different from your first-round experience.  The general tendency seems to be: the more tenured your interviewer, the less structured your interview.  While first-round interviewers select from a library of carefully prepared case questions, Partners tend to favor cases based on past or current client work.  Because they're not working from a standard, pre-written case, your final round interviews might have more unexpected twists, turns, and jumps.

More senior interviewers also tend to rely less on the scoring matrices and rubrics.  In addition to asking themselves "do I want this person on my client team" they are also asking themselves "can I see this person becoming a leader in this office and/or in the Firm (a Partner) some day"?  This may or may not work in your favor, depending on the strengths and weaknesses of your interviewing style.

Transition between interviews

This tends to be more consistent in final-round interviews because the environments - McKinsey office locations - are more similar to each other than first-round interview sites.  Your interviewers will walk you back to the "batch" room, thank you, say goodbye, and pick up their next candidate.

Wrap up your McKinsey interview day

This won't be that different from first-round other than the fact that you might be on the road and have a chance to briefly explore the city.

Wait for your decision phone call

Just like after your first-round interviews, you will likely get a decision call later the same day.  The Firm aspires to let candidates know their status as soon as possible.  Since this is now a hiring decision, the stakes are higher and deliberation can take longer, but there are also fewer candidates to review and discuss.  It's uncommon, but some candidates will not hear back on the same day and/or be informed that they'll be receiving a decision on a later date.  That's certainly better than a ding and usually means they feel like they need to assess more candidates (or sometimes re-assess the candidate with follow-up interviews) before making a final decision.

Thứ Bảy, 5 tháng 10, 2013

McKinsey Interviews - What Happens on First-Round Interview Days

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Interviewing for any job is stressful, and McKinsey and other consulting firms have some of the toughest interviews you'll ever face.  However, understanding what will happen on your interview day can help you prepare, relax, and improve your performance.  In this post I'll describe how a typical early-round interview day is structured so you'll know what to expect.

I will follow-up this post with two posts - one on what happens on second-round interview days and another with suggestions for how to make the most of your interview days.

The details of the first-round interview process will vary by school.  The biggest differences from school to school are driven by specific interview locations - whether it's on-campus in a career center or off-campus in a hotel - that drive certain logistical differences.  In this post I'll cover what I've seen most frequently across many first-round interview days dozens of MBA and undergraduate institutions.

Location

If first-round interviews are held on-campus, they will typically be in your school's career center, with check-in occurring in the primary common area and interviews conducted in small, private rooms.  If the interviews are off-campus, they are typically held in hotels.  Check-in will be in a large ballroom or conference room and interviews will be conducted, with only a little bit of added awkwardness, in individual hotel rooms.

Check-in

When you arrive at the interview location, you will see signs guiding you to the proper location for check-in.  This is usually a large room that can accommodate the many - often over a hundred - candidates interviewing that day and you'll see many of your classmates waiting for or wrapping up their interview days.  Once you get there, you'll check-in with someone and be given a folder that contains information from recruiting and one-page biographies of your interviewers.  Often, your folder will include a form for selecting office preferences that you'll be asked to fill out and hand in before you leave for the day.  There will be racks to hang your coat and places for you to hang your coat before you find a seat to...

Wait for your first interviewer

There will be plenty of seating for you and your fellow classmates.  Depending on the location, there might be refreshments for candidates waiting for or returning from their interviews.  There is usually at least one consultant assigned to spend time in this waiting area greeting, chatting with, and answering any questions that candidates have.  Most candidates will occupy themselves with small talk with classmates, last minute review of case interview frameworks, or reading interviewer bios.

You will usually have two, sometimes three, first-round interviews.  Your first interviewer will come to the waiting area to find you.  He or she will then escort you to the room where your first interview will be conducted.

Have your first interview

Each interview is scheduled for an hour, but many interviewers will target wrapping up a few minutes early to give themselves time to take care of a few things - like completing their notes on your performance - between interviews.  When I was assessing candidates, I would limit my interviews to 55 minutes.  Since letting interviews run long backs up everyone else downstream, it's best practice for interviewers to wrap-up a bit early and remain on schedule.

I've compared notes with other interviewers and we all managed our time similarly.
Your interviewer is primarily assessing your PEI and case performance using a standardized scoring matrix and rubric.  But your interviewer is also asking him or herself, "do I want this person on my engagement team?"

Transition to your next interview

Depending on how the interview environment is set up, you'll either return or be escorted to the waiting area or your next interviewer's room.  Your next interviewer will find you and take you to your next interview location.  This will be repeated if you have a third interview.

Have your next interview

Your second interview (and third, if you have one) will be very similar to your first.  The primary differences will be:
  • Interviewer
  • PEI question
  • Case

Wrap up your McKinsey interview day

After your final interview, you'd be escorted back to the waiting area.  You might have some final paperwork to take care of - like submitting your location preference sheet - before you find your coat and head out to resume your day.

Wait for your decision phone call

Congratulations!  You've now done all you can to earn an invitation to final-round interviews.  Or, if you think you've performed poorly, condolences.  In either case, McKinsey does its best to communicate their decisions to candidates on the same day as interviews.  One of your interviewers will phone you to give you the news so keep your phone handy and if you get a call from a number you don't recognize, answer it!

Thứ Sáu, 4 tháng 10, 2013

McKinsey Interviews - What is a McKinsey Case Interview and Why Is It Important?

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If you've done any research into getting a job in consulting, you'll know that the case interview is a critical component of the interview process at McKinsey and other top management consulting firms.  Case interviews are also become more common in non-consulting job interviews, especially for Strategy roles and/or positions reporting to former consultants.

If you're just starting your research or it's not yet clear to you what, exactly, a case interview is, in this post I will answer:
  • What is a case interview?
  • Will it be a brain teaser?
  • Why are case interviews important?

What is a case interview?

The case is one of two types of interviews you'll face when applying for a job at McKinsey - the other is the personal experience interview (PEI).

In the case interview, you'll be presented with a business problem (the "case") to solve in about 30 minutes.  They are meant to be representative of real engagements that McKinsey teams are asked to solve for clients and are often based on real-life examples (that have been "sanitized", of course).

As you might expect given the time allotted to the case interview, you're not just being asked for one answer to one problem.  Typically, the case consists of several components that must be identified and solved in order to support your final recommendation(s).

Will it be a brain teaser?

The simple answer is:  NO.

Examples of "brain teasers" include questions like:
  • How much does the empire state building weight?
  • How many golf balls would fit into a 747?
  • How many pay phones are there in New York City?
At McKinsey, we would not consider these to be "case interview" questions, although my understanding is that brain teasers like these might get asked during interviewers for other firms, especially for more junior, Analyst-type positions.

No, but...

Although McKinsey interviews are not brain-teasers, there are elements of McKinsey case interviews - like market sizing - that will require this type of problem solving.  In the absence of data, how well can you come up with a logical approach for estimating something?

In these cases, you're not being assessed on how close you get to the "right" answer - although you will get dinged if your answer doesn't make sense.  Instead, your interviewers will be evaluating your thought process, how logical your approach is, and how well you explain and defend it.

Why are case interviews important?


Case interviews are important to you because they comprise half of your interview assessment score.  Case interviews are important to McKinsey and other firms because they're used as a way to assess your problem solving abilities and how well you can communicate your answer(s).  The reason the case is structured like a client engagement is so your interviewers can understand how you might perform as a teammate on a client team.



Thứ Tư, 2 tháng 10, 2013

McKinsey Interviews - Roadmap to a McKinsey Job and 3 Things to Consider

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The cooler weather and changing leaves don't just signal the beginning of autumn.  We have now entered recruiting season for full-time McKinsey hiring and summer internship hiring is not far behind.  In this post I'll explain how the McKinsey interview process is structured and a few things to consider as you dive in.  The process similar for full-time and summer hiring.




As with anything at McKinsey, there are variations by location, but after interviewing hundreds of candidates for the Firm across multiple geographies, I've found the process to be fairly consistent by school, office complex, and location.  In general, you can expect the following steps on your journey to a job offer from McKinsey...

Company Presentation


This usually kicks off recruiting season and is often the first touch-point the Firm has with candidates and vice versa.  It's not uncommon for over HALF of a business school's class to attend these presentations where McKinsey Partners and Directors (Senior Partners) speak about their experiences at the Firm.  Typically, a recent hire will also speak about their McKinsey experience to give the "early tenure" perspective.  There will also be an army of McKinsey consultants on hand to chat with you and answer questions after the presentation – they’ll be organized around the room by office complex so you can meet the right folks

Coffee Chats and Office Hours

These are opportunities to meet a McKinsey consultant one-on-one or with a small group of your classmates.  Coffee chats take place in coffee shops on or near campus while office hours are typically on campus in a classroom, meeting room, or even a table in a common area like a cafeteria.  Firms use them to build interest, answer questions, and let candidates get to know them.  These are supposed to be "non-evaluative" and they are to an extent - you can't really help your chances in a coffee chat, but you can increase your likelihood of getting dinged if you come across poorly.  You can read this related post on tips for making the most of coffee chats.

Resume Screens

Before you can get a job with McKinsey, you have to be invited to interview.  At most schools, this means you have to submit or "drop" your resume to the Firm for consideration.  A couple of Associates who have been trained on how to review resumes will assess your resume according to a resume screening rubric.  If your resume scores high enough, you'll be invited to interview.  You can read this related post on tips for doing well on the resume screen.

Case Prep Sessions


McKinsey wants to see everyone's best possible performance on interview day.  To help enable that, the Firm will offer opportunities for candidates who have been invited to interview to do some case interview preparation ("case prep") with a McKinsey consultant.  Typically, a consultant will meet with a small group of candidates at once and each person will have a chance to answer part of a case interview.  These are challenging because you have to jump into a case interview mid-stream, but they are great chances to go through a case with an "assessment trained" McKinsey consultant.

First-Round Interviews

First-round interviews typically occur on or near campus.  You'll be one of dozens of candidates interviewed that day - at some schools, you might be one of over a hundred.  Every candidate will go through at least two one-hour interviews.  Roughly half of each interview will be spent on a case interview and the other half on a personal experience interview (PEI).  Both parts of the interview are critical - here are some tips on how to do well on the PEI.  Regardless of how you do, you can get feedback on your interview performance - take advantage of the offer, especially if you were successful in getting a "pass" to a final-round interview.

Final-Round Interviews (aka "Batch Days")

Final-round interviews are usually conducted at the McKinsey location that will be hiring you, should you receive and accept a job offer.  The Firm does its best to accommodate your top location preference, so choose wisely!  Final-round interview days are also known as "batch days" because of the "batches" of candidates and interviews in the office.  Final-round interviews can be a bit tougher than first-round because you will a) have a third interview and b) your interviewers will be more senior - Associate Principals, Principals, and Directors instead of the Associates and Engagement Managers who interviewed you during the first round.  However, the format will the similar to the first round with each interview split into PEI and case interview.

Cultivation or Offeree Weekends

If you do well enough on your final-round interviews, McKinsey will extend a job offer to you.  Once you become an "offeree" the tables turn and the Firm will begin courting you, culminating in a weekend of wining and dining at your hiring location.  Both you and your Significant Other (SO) will be invited to this all-expenses-paid "cultivation weekend" or "offeree weekend" (also called a "sell weekend" at other firms) were you'll meet current consultants, check out the office, do fun things that showcase the city, get taken out for nice meals, and go out for drinks.  Lots of drinks.

Thứ Ba, 1 tháng 10, 2013

McKinsey Interviews - October, 2013 Posts for Aspiring Consultants

To anyone NOT interviewing with McKinsey:

With apologies to folks who are already consultants or looking for tips on how to work with a current or former McKinsey consultant, the posts for the next couple of weeks will focus on getting into the Firm.  But we'll get right back to our regularly scheduled mix of programming after that!

To those of you who ARE interviewing with McKinsey:

For those of you who are Aspiring Consultants, the posts over the next couple of weeks will help you understand what to expect as you pursue a job at McKinsey and/or other top management consulting firms.

I'll try to coordinate the content across posts so I might delay putting content on the blog until other posts are completed.  But I will schedule them so they appear on the day they were originally written.  Apologies if that gets confusing for those of you who subscribe or follow this blog regularly.