Big 3 consultant CASES another Big 3 consultant | Casing series #1
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- เผยแพร่เมื่อ 29 เม.ย. 2024
- Rohit cases Neel and provides feedback. This is a great example to see how someone who's made it through the Big 3 case interview process cases. And a great example of how someone who's made it through provides feedback.
Comment below on what you'd like to see in future videos and / or if you disagree with any part of how we approached the case.
PDF of Bike DVD Rental case: drive.google.com/drive/folder...
Resources we used - drive.google.com/drive/folder...
Timestamps:
Intro - 0:00
↳Three thing to keep in mind - 1:03
Start of Rohit casing Neel - 2:38
↳Prompt - 2:59
↳Clarifying questions - 3:19
↳Writing framework (you should too!) - 4:46
↳Framework - 5:08
↳Overview of market sizing - 7:08
↳Writing market sizing (you should too!) - 8:10
↳Explaining + doing market sizing - 8:30
↳Looking into costs - 17:59
↳Calculating profitability - 21:08
↳Writing brainstorming (you should too!) - 23:21
↳Talking through brainstorming - 23:45
↳Recommendation - 26:27
Start of feedback - 28:15
↳Rohit's feedback - 29:12
↳Clarifying questions + framework - 29:21
↳Market sizing - 31:41
↳Brainstorming other facts - 34:12
↳Recommendation - 35:42
Feel free to connect with us on LinkedIn (include a note about what you like / dislike about our channel!):
↳Neel's: / neel-reddy-1602b6108
↳Rohit's: / rohitshenoy2
General disclaimer: All views provided by Neel and Rohit are their own. Their views do not and should not be taken as those of Bain & Company.
To email us:
↳NeelandRohit@gmail.com
A video on frameworks would be MUCH appreciated, and VERY helpful
We have one! Here it is: th-cam.com/video/SK5LWRGsbq8/w-d-xo.html
Thanks a lot for sharing this!! Extremely helpful, not just to fructify the dream of getting into the big 3, but also to simply grow professionally!
Glad it was helpful!
Thanks! Very instructive and detailed, everything is explained precisely and we're given a deep insight into the thinking process!
Appreciate it!
Just reminiscing on your old videos!
Fantastic work both of you guys. The videos are super insightful. The fact that you want to help others in the same position as you once were (lacking proper content to prepare for the Big 3) is even more commendable. Best of luck!
Thank you Saleem! These kinds of comments give us energy to keep making videos haha.
I love your channel! It would be great to have more case interviews. I found this video really helpful!
Sweet thanks! Will definitely add more in the future
This was awesome! I would love to see more mock case interviews. I liked going through this one, solving it, and then seeing how you did it.
Great feedback Saahil! Definitely make sure to check out our 2nd casing video here: th-cam.com/video/cMScYhi_xno/w-d-xo.html
Thanks guys, loving all the videos so far
Great to hear!
This is so helpful, thank you so much! I think a video on frameworks would be amazing :)
Here it is! th-cam.com/video/SK5LWRGsbq8/w-d-xo.html
This is a superb video. And excellent way showing how to handle the case interviews. Do & don'ts.
Thanks Swati, glad it's helpful!
This is amazing - Thanks Neel and Rohit! Definitely covering other types of cases (i.e. M&A, Growth, Price Optimization) and going into depth in terms of breakdown of the case interview (how to come up with good clarifying questions/to what extent you can ask) and practicing different case styles (interviewer led vs interviewee). this was super helpful to watch, though, and I know a lot of us really appreciate both of your time and effort making this series!
Also, yes @ a video on frameworks and your own personal advice on customizing!
@@STKTSTKT Thanks for the feedback, and we're glad these videos are useful! We'll make sure to make videos on specific portions of a case interview (like clarifying questions, frameworks, etc.)
I have now watched every video on this channel and have found it extremely helpful! This insight has been key for approaching the applications I’m about to put out. I am also an engineering major, and I would love to know more about how you became knowledgeable about business frameworks. As a chemical engineering major, I have little to no background and am not really sure where to start with practice casing. Thank you so much, keep up the great work!
Hey Mary - we both came from technical backgrounds and also found frameworks to be hard when we started casing. We're filming a video on this today so it'll be out soon. Thanks for the comment!
I got to this channel arbitrarily and this being among my initial videos on a casestudy. I thoroughly enjoyed it and tried to work along. Hoping to get better with practice. Keep up the good work!!
Hey Simran! We're glad the TH-cam Gods showed us to you, and awesome that you followed along to practice as well. We'll definitely be uploading more videos like these soon as well, so subscribe and keep it up!
@@neelandrohit6490 Thanks for getting back. I am from finance background and I am developing an affinity for Case studies. Finance is quite a broad domain and to pursue Case study further I want to understand which division of finance do it predominantly falls under. Kindly guide me.
Hey guys, a video/s on how to go about moulding the RESUME and the COVER LETTER for the big 3 as well as other firms like AT, LEK etc. would be MUCH appreciated. Amazing video this one, hope there are more in the series.
Hey Manan, great points! We'll add those videos to the list!
Thank you Neel and Rohit for another excellent efforton casing/consulting related video work! Raza =)
Glad you liked it! Thanks Raza
Glad you liked it
@@neelandrohit6490 =)
=)
Refreshingly different from the commonly staged interviews offered on other channels, including those of the Big Three. Appreciate the effort and genuineness.
Thanks Joshua! Any other kinds of videos you'd like us to make in the future?
@@neelandrohit6490 perhaps advice outside of internships would be useful - namely, books to read, skills to hone, online courses to complete? Thanks again for all the help!
This video was super helpful ! Really gave me an idea of how to approach cases. I have an interview tomorrow:) Thanks guys!
Best of luck!
Hey guys, really great video exploring the profitability framework. I think that the last part when you overviewed the feedback was actually the most useful portion of the case.
One recommendation for future case examples would be to approach the case in a more professional manner like you would an actual case interview. I think working in that kind of mentality would really help the viewer get a better understanding of the interviews. There were definitely points during this case where you guys joked around, which would not reflective of an actual interview.
But great overall! Would love to see a growth case or a more numbers finance heavy case to see how you approach the mental math and computations!
Hey Nikhil, thanks for the feedback. We'll definitely make sure to cover a variety of case types in our future videos in this series!
On the point of us casing in a more professional manner, I understand where you're coming from and I think it makes sense. But I'd like to provide a counter. Joking and using humor are parts of my professional manner (and perhaps a bit of Rohit's too). Perhaps I wouldn't have said all of those jokes in a "real" interview, but I think it comes down to one of the 3 points I brought up in the beginning - "Develop your own style", and in this case, your own version of professionalism.
There's no one right way to be professional (and of course, it depends on a variety of things like your region, language, who you're interacting with, what's the context, etc.), so I don't want you to think that joking around is being unprofessional. Rather, it depends on who you are as a person and what is genuine to you. For example, I crack jokes and laugh with my Bain clients all the time, but I know others who don't take that approach - and either way is totally fine.
But keep the feedback coming man, for this and future videos! I'd love to hear what you think of the above^
@@neelreddy4523 Hey Neel,
Appreciate your reply to that feedback.
Totally agree that there is no one definition of 'professional' and that it varies a lot based on those factors that you mentioned above. I also love to develop a more casual rapport with co-workers and clients that allows for joking around, a casual vibe can definitely be professional and productive for all. However, I definitely do not think that this is something that happens right away at the first meeting, especially not when that first meeting follows a formal evaluation like in a case interview (unless you get an awesome interviewer!)
In response to your counter: As someone that is watching multiple examples of case interviews online and is currently doing a lot of practice cases in preparation for recruit, this is the first time I have seen the casual tone and humor approach in a casing example At times, I actually felt that the jokes actually took away focus from the content and learning in your video - for example when you gave your recommendation to proceed with caution, you also joked that the entire thing was a bad idea. Although, this might be because the premise of the case was pretty laughable (trying to make a profitable DVD delivery service in the era of Netflix LOL)
But overall, I think it's great you're putting this type of content out there. You definitely do not see enough of it!
Great video! Thanks for making this :D
Glad you liked it Stefan! We'll have more videos like this (but even better!) coming soon
Very helpful! Thanks guys!
Thanks Pola!
thanks a lot for an awesome case interview video and also the real hand writing notes. found lots of real case interview, but none of them showing their real notes, instead they're showing the refine version which shown in computer writing format.
Please create more case interview video.
Thanks!
Thanks Rakha! Make sure to check out our other casing video here: th-cam.com/video/cMScYhi_xno/w-d-xo.html
This literally helpful
Thanks!
Thank you so much! I learned a lot from your video, can you please do another one for structuring?
Much appreciated
Sure thing!
One thing that comes a lot to me is how to figure out the Guess -Estimates ,I have tried to think it some ways but a video on that will surely help plus some ways on how to find casing buddings and links to more cases would be helpful
Seems like there's demand building up for guesstimates so we'll try to tackle this soon. For casing buddies, reach out to people in your school who are interested in consulting. We'll be making more casing videos soon!
would love to see a reverse casing where Rohit solves the case!
Works on it! Thanks!
Hi guys, loved your video. Got a really nice insight into how a case usually progresses through in these interviews. I wanted to ask if it is better to brainstorm and make your own assumptions (showing that you're an inquisitive thinker) or badger the interviewer and try and pull out as much information as you can (showing your curiosity and attention to detail).
I think it's a balance of both figuring out when you need to make your own assumptions vs. asking clarifying questions. But of course, you will never badgering the interview
At the beginning of a case, you should always try to ask as many foundational questions about the problem you're trying to solve and any questions about syntax or market-specific knowledge that you might not know.
During the case, especially when it comes to market sizing or estimations, if you start to think there many not be many numbers to get from the interviewer, that should be your cue to start asking if you should assume numbers.
Soon, we'll make a video about clarifying questions and frameworks, and hopefully that should help
Thank you so much for these videos! I was wondering if there are any coding languages you think would be helpful to learn/that you use regularly on the job?
Hey Emily, great question! To be honest, it's hard to tell because any opportunity you'd have to use coding is really case dependent. If I had to guess some that would be useful in the most number of situations (but still a relatively small number of situations), it'd be SQL and python probably
Hey. Great job on the video. If possible, in one of the future videos, could you please address how case interviews would change given the current Covid scenario. While obviously you'd have a better idea, i feel that firms will base cases on Covid and want recommendations and solutions to change accordingly too. So, maybe you could do a case on the current scenario. Also, if you can explain ways to enhance general knowledge base with respect to Covid so that thought processes are naturally aligned to the new norm for the various industries.
Great point! We'll add this to the list!
this is amazing! i’d love the resources link, you forgot to add it in your 3 steps video!
It's in the description!
Neel and Rohit you just added it! it wasn’t there before
Awesome video! I understand that doing live cases with other people is the best practice, but are there any other additional ways to improve outside of this?
There are several aspects of the case you can practice solo, like doing quick mental math, market sizings, and making a framework for real-world problems you see in your daily life!
Would love to see tips on how to case by yourself, thank you!
To be honest, we would advise that you case with other people rather than with yourself. Casing with another person is the best way to really get better at casing.
We also understand that finding case buddies can be a challenge too. We're brainstorming ways to help you all find other dedicated case buddies too, but if you have any ideas, please let us know!
Kindly make a video on frameworks as well. It'll be VERY helpful
Here's that frameworks video just for you Aniket! th-cam.com/video/SK5LWRGsbq8/w-d-xo.html
Loved the video! It definitely helped me think out of the box and get a feel of what the interviewer might be looking for in such situations. However, it would be even better if you could make a video on the structuring bit. A little more elaboration on how to choose the right approach for these kinds of problems would be helpful.
Thanks for the feedback. We'll be releasing a video on frameworks soon!
A request for the next video-kindly cover the very initial phase of application. Case test only helps when one gets a call for the same. One's application has to get accepted in order to be called for the case. So how should we write our Cv and cover letter so that we can clear the 1st phase. Naturally, there is no straight jacket formula for this, but it would be great if you could share your experience.
Good point! Although, you'll see in some videos soon that casing can actually help get an interview (even if that sounds counter-intuitive)
But yes, we'll make videos soon that cover how to approach the resume. Thanks for the feedback
Hey Neel and Rohit! Great video! How would you incorporate seasonality into your market-sizing calculations? Would you think about it in terms of summer being a lower delivery cost + probably lower demand because the weather is nice, and winter being a higher delivery cost + higher demand because people want to stay in, or is that unnecessarily complicated? A broader question is- how much detail would you go into for cases? E.g: the comment about households renting DVDs- would it make sense to divide up the customer base into couples (you mentioned Valentine's Day) and households of 3-4? Thanks a ton!
Good question Aryana - the way I (Neel) like to handle seasonality is to look into the degree of seasonality (let's say that winter is 3x as popular as the rest of the year). Given that, I'd just "smooth" out that seasonality by apply 1.5X to the entire year (since you're getting 300% in winter and then 100% in the rest of the seasons, meaning 600% throughout the year divided by 4). That is essentially me evenly distributing the peak in the winter throughout the year.
Excellent video! Loved the format. Aspiring to become a consultant soon. Would you say academics/masters degree is a pre-requisite to get into consulting? Thanks
It depends on what part of the world you're in. For example, in the US, a master's degree is definitely not required. But I know that in Europe, most (if not all) consultants have a master's degree of some kind.
@@neelandrohit6490 Oh how is US so liberated when it comes to grades XD!!! Well since I am from India, I am sure they ll want people with top academics.
just wanna be sure...inventory is usually a variable cost right?
I didn't get the bell curve part at 13:18 part of the video, can you elaborate ?
Awesome video guys!
I was thinking about the framework, and i think you could have added a few more things though:
1. Competition:
-Market share & monopolization
-current client servicing and areas of customer dissatisfaction
-any competitive advantages/ gaps that we can capture
2.Operations:
- Generating Demand (marketing, beyoond just the website)
-Onboarding supply of riders
-Distribution/ GTM Strategy
-Back-end storage, fulfilment
Lmk if these are good levers, but overall awesome video!
Thank you! And yes, these are all great levers to be thinking about. I think it then becomes a task of figuring out which ones you think are higher priority to address / include in your framework and which ones you maybe just quickly mention but don't let distract from the more important points
thanksss
Appreciate it!
Amazing Video , but quick question:
Neel said that the company's profit would be purely comprised of the 2 dollar delivery fee - but what if a customer rents several dvds in one order? So say that the customer rents 3 CDS, the total price would be 18 dollars. From that, 4 dollars would go to the delivery man and the rest would go to the company. So should we factor in average CDS per order, or just assume that its only one?
yall r the homies btw literally goated
I believe I assumed that the delivery fee would be a flat fee (not scale with the number of DVDs rented)
It was really informative and helpful. Thanks a lot & great work guyz. Could you please create a video on different frameworks like how to use them and where to use them? That would help. And I believe this casing round is still present in big consulting companies in FY22. Am I correct?
Glad to hear Jay! And we're already ahead of you! Here's a video we made discussing frameworks + providing examples
th-cam.com/video/SK5LWRGsbq8/w-d-xo.html&ab_channel=NeelandRohit
And yep, consulting companies still use case interviews
Could you teach us how to write a good CV?
Please do a video on frameworks!
Filming one today - thanks for the suggestion!
I had a clash of thinking of it as an initial broad market entry framework, with a primary focus on the economics (profitability). Would that be a deal-breaker?
What about this do you think would be a deal break? I think that could be a workable framework! It just depends on what categories are included within your "broad market entry framework" - but the focus on economics / profitability sounds good
Did you take the GRE or GMAT specifically to apply to MBB?
Nope - although if you have taken them and scored decently well, they would be useful to put on your resume
Hey guys, I completely get that you're doing it after a 3 year gap. I had a doubt on whether cases are supposed to be more structured that this ? I felt that maybe in places the profitability framework was being merged with other analysis of the customer segment or competition. Does that normally happen ? Or would something like asking all questions related to the competition, customer, product and client followed by the profibitabiltiy frame work , be a better structure ?
How you approach solving a case (or any real problem for that matter) will vary greatly based on your personal style of casing and also what you deem to be most important. Remember, these "frameworks" are made so you can solve the problem, so there's nothing inherently wrong when blending or merging two frameworks together. And you should never feel pressured to ask all the questions related to a specific framework / category (like competition or customer) just because that's the path you initially chose to go down.
All that to say, there's no right answer to whether you should completely stick to a specific framework / categories or merge multiple. It really does depend on the situation. And given that I'm (Neel here) a bit less structured than other people, I am comfortable blending two styles of thinking / frameworks if I think that will be the best way to solve the problem. Hope this helps!
@@neelandrohit6490 the video definitely did help as a starting of point ! got into MBB :D
@@meepishi That's amazing to hear Ishita! We'd love to hear more about your process and how our maybe resources, or any other resources, helped you find success (and how we can better help people get the same results you did!)
Could you email us @ neelandrohit@gmail.com?
This is for management consultant, what if someone wants to join a technical software role at Bain or Mckinsey? Does these types of questions are still needed?
We're not really sure of the process for this, but I'm sure you can find more details on the job description for these companies
What would you include as next steps at the end if your recommendation is to not pursue the business?
This is a great question. You could mention the things that might change your mind to go for it and how you would go about verifying those things.
Couldn't you have used the "Market Entry" or "Business Case" framework instead of the "Profitability" one? From my understanding, you chose the "Profitability" framework because the objective was to be profitable, but what about entering the market aspect of the case? Do you think it would be wrong to choose the Business Case one and make a recommendation on whether the client should enter this market and if so, how to enter it?
Good question Jungpal, and I think there's no right answer. Given this was focused on profitability, rather than an existing company entering a new market, I think that's why the profitability framework makes the most sense.
And can you both use a collar Mike in your next video. Sometimes your tone becomes so low, difficult to hear. Just a suggestion!!
Good suggestion Amandeep - we think our future videos have better quality. Check them out and let us know what you think!
Can we have videos on Guesstimates too
Thank you for the comment, we'll add that to the list!
As it was a market entry and a profitability case, why didn't you analyse competitors, thier customers and how thry are segmented, USP. More numbers of competitors will definitely impact the profitability. And what about the Threat of new entrants.And moreover what about the growth in the DVD industry, wasn't that important, because profitability is directly proportional to the positive Growth.
Those are all great points Amandeep, and definitely things that could make sense to investigate. Given that profitability was the main focus, just by assuming that we would capture a certain, small market share (maybe 5-10%) may be enough to consider the competition. But definitely, if we were to go deeper into the case, competitors would be a must to dig into. And definitely something to mention.
how to get intern in these companies ?
They have internships that undergrads or MBA students can apply to!
*cough**cough* math tricks please *cough*
A video on math tricks is on the way!