Bain Case Interview - Strategy consultant reacts to mock case interview
ฝัง
- เผยแพร่เมื่อ 27 เม.ย. 2024
- In this video, an Ex-McKinsey consultant reacts to a mock case interview. The interview is an official Bain case interview. I will review all key steps of the consulting case interview with you and help you prepare for case interviews. Case interviews are part of every MBB consulting interview process (McKinsey, BCG, Bain). How to prepare for case interviews is a question many candidates ask themselves. This official Bain case interview shows, how such an interview at Bain looks like. This case interview 101 provides an important case interview prep to anybody who currently prepares for interview. In this reaction video, I go over the Bain mock consulting interview example and react to it. Let me help you with your management consulting interview prep with this case study interview. Get ready for your management consulting interview. This interview is similar to McKinsey style case interviews as well. It will also help you to prepare for the McKinsey case interview process. Case study psychology is important to understand.
Chapters
00:00 Introduction
01:14 Channel memberships
02:00 Bain case interview
26:05 Wrap-up
Become a member of Firm Learning and get access to perks:
link.firmlearning.com/join
🎓 COMMUNICATIONS AND SLIDE WRITING ACADEMY
Learn to communicate and create slide presentations like consultants at McKinsey, BCG or Bain. This is the Firm Learning flagship program:
link.firmlearning.com/slides
📄 CV AND COVER LETTER TEMPLATE*
Get a CV and cover letter template based on my own documents. With earlier versions of this CV and cover letter, I successfully applied to McKinsey as consultant:
link.firmlearning.com/learning
✅ THINK-CELL - EXTENDED TRIAL AND SINGLE LICENSES*
think-cell is the leading PowerPoint tool to create professional slides. It is used by 8 of the top 10 consulting firms and the entire DAX 40. Get access to an extended free trial and single licenses:
link.firmlearning.com/think-c...
👍 CHANNEL MEMBERSHIP
Become a member of Firm Learning to support my work and get access to perks:
link.firmlearning.com/join
📩 NEWSLETTER
Sign-up to the Firm Learning e-mail newsletter for more regular content:
link.firmlearning.com/e-mail
☑️ RECOMMENDATIONS*
Book recommendations: link.firmlearning.com/books
Travel like a consultant: link.firmlearning.com/travel
GMAT study material: link.firmlearning.com/gmatstudy
My video equipment: link.firmlearning.com/myequip...
💬 SOCIAL MEDIA
Instagram: link.firmlearning.com/instagram
TikTok: link.firmlearning.com/tiktok
LinkedIn: link.firmlearning.com/linkedin
Discord: link.firmlearning.com/discord
Twitch: link.firmlearning.com/twitch
Facebook: link.firmlearning.com/facebook
* Links are Affiliate or Sponsored links. I receive a fixed fee or revenue share whenever a purchase is made. The price for you stays the same. Thanks for your support!
All views expressed on this channel are private opinions of this channel's creator Heinrich. This is NOT an official channel of any consulting firm.
Interested to become a member of this channel and get perks? link.firmlearning.com/join
Want to learn to create slide presentations like leading consulting firms? link.firmlearning.com/slides
Am I the only one to have noticed his calculation for determining the percentage of Y2 customers needed for revenue growth for other carriers is wrong? $18B/ $1B should give you 18% and not -5. I stand to be corrected. Can a breakdown for this be done please? @firmlearning
Of course she has data on that... Epic 😆
;) Thanks for watching! Best, Heinrich
Thank you Heinrich, your videos have been really inspiring and i have learnt so much from you! Glad to have you in TH-cam and keep up the good work!
Hi Timothy, super happy to hear that, thank you. Lots of success to you man! Best, Heinrich
A true value-add commentary, Heinrich. Thanks!
Thank you! Appreciate it. Best, Heinrich
Really looking forward to this!!
Thank you Paulo, hope you found it interesting! Best, Heinrich
its a good intro to get a feeling for a case but in reality they are longer, more detailed, and more intense in terms of stress. if you are well structured and share your thoughts and problem-solving approach with the interviewer then you'll be on the right path. also, personality in consulting is very important.
Great analysis! Thank you for making this video!
Thanks for watching, appreciate it! Best, Heinrich
Super helpful video! Thank you for sharing your view on it. Wishing there’s something similar available for PE/VC interviews
Thank you for watching Sasha! Might create more content like this in the future, stay tuned :) Best, Heinrich
Consulting is really a people business. The way you talk is as much important as, if not more than, what you say
Hi Heinrich! I am an aspiring consultant from Portugal and I find your videos very helpful! Hopefully one day I will become a consultant myself. Very happy that your channel is starting to take off!
Hi André, thank you for watching, appreciate it! Yes, the last weeks have been great for the channel, thanks for being part of it! Best, Heinrich
How about a real job that create actually Value?
@@ft7726 like what?
"Of course she has data on that, come on guys..." 😂
;) Thanks for watching!! Best, Heinrich
Classic
Thanks for the video, Heinrich. Cheers!
Thanks Dedy appreciate it! Best, Heinrich
Super insightful! Thanks Heinrich :)
Thank YOU for watching, appreciate it! :) Best, Heinrich
Great insights, thank you Heinrich!
Thanks!
The channel and commentary is excellent, congrats on great content! on the mock case interview itself: the conclusions are inane. And frankly you can hire a person fresh out of college full time who likely would give you the same conclusion for about an order of magnitude than one of the big three consultants cost. Lot more effective principles that are not specific to this problem to consider: channel leverage, product clutter, what leverage hardware buys in driving service revenue etc.
Thanks for your comment and definitely good points! Just do not underestimate the pressure and anxiety that most people are facing when sitting in these interviews. Though agree that this was not necessarily a 100% performance. Best, Heinrich
Thank you Heinrich !!
Thank YOU for watching! Best, H
Great video. Thanks for sharing
Thanks Heinrich, great analysis. Wondering what happens and what should we do if the interviewer does not give you the data you asked for?
Thanks for the great content
Great analysis, Heinrich. Could you talk about the risk asessment or risks perceived that you can do on any given MBB project? I don't know how to start (not STEM) in a case like this and it would be 100% appreciated!
Hi Nicolas, from my experience there is no one checklist that you go over in every single project. Always depends on the topic etc. Best! Heinrich
very knowledgable.. Thanks!
Thank you Asish, appreciate it! Best, Heinrich
Hello Heinrich,
my first thought on this case was to couple the device with a mobile phone that has a mobile internet connection using bluetooth or the hotspot mechanism. Nowadays everyone has a phone on them pretty much 24/7 and this would enable the firm to target potential customers from all carriers. Would such an idea be valued in such a standardized case study?
Thanks a lot and keep the great content coming.
Best,
Luis
Hi Luis, this is for sure something you could mention in a side sentence, though would not base my whole answer on that as indeed this is apparently not what the client wants to do. Best! H
For me the first red flag was high tech wearable that tracks calories etc. - already high market saturation and non-differentiated product. I know it's probably outside of scope though
Fair enough :) Thanks for sharing! Best, Heinrich
AT&T and Verizon are subsidising the cost of the device, so when calculating market penetration this subsidy wouldn't be taken into account as you would use the actual value of $500 to calculate the number of units that need to be sold for AT&T & Verizon, not $400. Otherwise it's just Next-Gen Tech reducing the price of the device.
Hey Heinrich, very interesting video
Hi Heinrich great video thanks
Thanks for watching Damien! Best, Heinrich
Hi Heinrich,
Thanks for sharing firstly and secondly thanks for you valuable comments on that! :)
Thanks Sebastian, great to hear it is helpful! :) Best, Heinrich
Very nice work !
Thank you! Best, Heinrich
excellent video
Hey there Heinrich! Greetings from Mexico.
I’m a junior in a top college in Mexico currently interviewing for MBB and T2 here in Mexico. Your videos have been really helpful in gaining insights into the job
.I’ll be sure to pay it back and support you by “jointing” your channel here.
Thank you, and keep the great content coming!
P.S: Great job with After Effects, it certainly looks amazing.
Hi Marco,
Thanks for watching. Very much appreciate it, this is great to hear! :)
Still learning After Effects but indeed great to see my little project to work out.
All the best to you man!
Best, Heinrich
Another great video - thanks Heinrich!
Thank you for watching Mateo! Best, Heinrich
Thank You Sir
Thank YOU for watching! Best, Heinrich
@@FirmLearning
Can you please make a video on following topic?
Who are the most preferred candidates for consulting?
Like engineering, chartered professionals etc.
Because I am pursuing CA Course in India, and here most of the companies hires MBAs from top B schools.
I just wanted to clarify whether this consulting firms prefers students from particular stream or there is nothing like that.
Thank You Sir
Great content as always, thanks. Can you create a video about dress code for consultants (men and women)?
Hi Xavier, thanks and good idea, maybe something for a future video! :) Best, H
Hi Heinrich, thanks for your explanation. I'd like to ask for your opinion on using a hypothesis at the beginning of solving the case. Does it have high utility in your view? Or is it a non-essential? Also as far as delving into the case, do we immediately go laser-focused to the problem at hand or do we also say: let's look at the trends, and what else does the company do? My last question has to do with clarifying revenue: it wasn't clear to me that they are talking about overall revenue (1 bn) or revenue portion that the client will get - I assume the mobile carrier will take a percentage? Thank you very much.
Hi man, would rather start by developing and explaining a structure instead of just hypothesizing something. Regarding your revenue point, here I would always encourage you to precisely ask questions early on to nail these things down, indeed sometimes there can be ambiguities that you should avoid by clearly asking! Best, H
Heinrich, you nailed it, @22:00. 😆
Haha thanks for watching ;) Best, H
It lioks like a mini version of LOMS from Victor Cheng. I like it. Will more insights and comments be available to members?
Hi Wei, yes LOMS is for sure a great resource. Thank you for watching! Regarding membership, yes this indeed provides additional perks, you can see them by level if you click on the join button :) Thank you for considering to become a member! Best, Heinrich
Oh my god this video is as good as the accent is excruciating
Hey! Loved this video. Seriously, awesome work.
So I'm a business undergrad rn and I'm really interested in strategic consulting. Do you think it's better to go for a master's in business administration/ MiM or do u think I should get a master's in science in consumer psychology or something and then follow it up with MBA?
If you just optimize your CV for consulting, probably a slightly more quantitative topic (e.g., Finance Master) would look well. However, of course lots of MiM people join consultling at MBB firms every month, that works as well. Regarding more specialized Masters (consumer psychology) you should ask yourself whether this is really what you want to do and can also use for other jobs than consulting, as there is never a guarantee that you will land a job in a T1 / T2 consulting firm. Best, H
Hi Heinrich, many thanks for this specific review. For the step of taking a minute or two to organize our thoughts, how should we proceed for cases with partners? I heard that they expect rather top of head because taking a minute to answer does not sound natural when facing clients! Thanks again for these valuable insights that put us in recruiter's shoes. Best, Alain
Hi Alain, I do not think that your answer should depend whether or not the interviewer is a partner or more junior. In these cases, it should be expected that for questions like this the candidate can take some time to develop a structure. Sometimes the interviewer will indeed want to have a more spontaneous reaction, then he can just let the candidate know. Best, H
Ok thank you Heinrich. So the expected approach from all interviewers is to take some time. In case a spontaneous answer is awaited, the interviewer will signal it.
On a different note, for McK interviews, what are changes between first round and final round?
For instance, we move from interviewer led to candidate led right? What else please?
Have a great Sunday at Alpes!
Best, Alain
@@alainakel9282 I think it always helps to ask such clarifying questions: "Can I take a minute to structure my approach?" If yes, then good! If no, then now you know. :)
@@alainakel9282 Second round will also depend on your performance in first round. If you showed weaknesses on a specific area (e.g., quant), the interview might test that. If you are a stellar candidate, it might be more a sales conversation where the partner tries to convince you to join :) Best! H
Thank you Heinrich for this insider insight.
All the best,
Alain
Holy shit your accent is amazing. Exactly what I expect from a European.
Thank you Heinrich for creating this video, could you please tell me the main differences between a case for an interview and a real case for a client, with the client you will follow a similar structure like the one in the video or a different path?
Hi Alfredo, thanks for the question! In general the case interview is of course much more streamlined, it will be prepared in a way that allows for a solution to be found with the given material. On a real project, you often have lots of uncertain factors. Sometimes the client is not really sure what exactly he/she wants and you need to help the client define the goal of the object on the way. Sometimes the focus of a project shifts over time. Sometimes you will face significant political challenges in the organization that become a problem for you... Lots of craziness can happen on an actual consulting project :) Best, Heinrich
Hi Heinrich. Nice breakdown of the interview! One question: How does the candidate in this case leap from the question of $1B revenue and carrier choice to penetration rate to succeed as the answer to drive for? This part I battle with most in my case interview practice - knowing very quickly what would qualify as an answer... It seems logical in retrospect (after watching the entire clip) but when the question is first posed by the interview in this case, I'm thinking it could be a break-even case/vendor fit (M&A type question)/not sure. Thanks, and keep it up!
Hi Thian, thanks for your message. I do indeed think the interview here is a bit too staged / flows a bit too perfectly. In the real interview you can expect your interviewer partner to occasionally give you some hints to steer you in the "right" direction. Best! Heinrich
@@FirmLearning Great feedback and good steer on what to expect, thank you again!
Great video! Just a sort of funny comment, I could be wrong but as a brazilian myself I am almost certain that the guy being interviewed is brazilian! hahaha we have such recognizable accent! I don't know if people from other nationalities notice this though! Algum brasileiro que também percebeu? :)
For a second I thought she had broken the laptop to show him the data. That would have been fun.
Hehe good catch ;) Thanks for watching Marco! Best, Heinrich
Heinrich, really appreciate the advice. When preparing for interviews conducted over zoom, are there any big adjustments you think are key?
One key error I see many people doing is using subpar equipment. Your standard internet connection might not be that great and your built-in laptop microphone will not come across great either. Make sure you have high speed connection and a good microphone, this will already distinguish you from many other candidates. Best! H
@@FirmLearning I think another disadvantage is that you cannot present written visuals as easily you can in a face-to-face interview. So your verbal communication needs to be clearer in a virtual interview.
Great to hear your thoughts on this interview! I understand Bains shot this video to demonstrate to-dos, but would you think he performed well enough overall to pass?
Yes, this definitely looks like a solid performance to me :) Best, H
Do you have any input on the non verbal communication of the given interview? Sometimes I felt his tone to seem a bit bored maybe or unexcited. Is that something to focus on or is the handling of the case much more important?
Hi Henry, yes, he has a special "treble" in his voice (if this describes it accurately). A voice coach will tell you that this is usually a sign of stress and of being uncomfortable. For sure not what will portray you as very confident in such an interview. However, it is clear that an interview is a high stress situation for the candidate and the interviewer will understand that. Therefore getting the content right should for sure be your priority. Best! Heinrich
Hallo, Heinrich! Bitte machen Sie ein Video über den Austausch von Mitarbeitern zwischen Büros in verschiedenen Ländern. Sind solche Wechseln häufig und wie lang sie dauern? An welcher Stelle kann der Berater diese Gelegenheit nutzen? Was sind andere Kriterien?
Vielen Dank im Voraus
Hallo Tanya, danke für die Anregung. Habe ich mir notiert, sicher ein spannendes Thema!! LG, Heinrich
Thanks for your video and I've benefitted a lot from that. May I ask if the interviewer asks whether I have any questions to him/her at the end of the interview, what question does he/she want me to ask? Thanks!
Hi Yuan, yes he might very well aks that! Im a bit fan of asking what actually interests you (e.g., about the type of projects you will do) :) Just make sure it is not something you can google in 2 minutes. Best, Heinrich
Just starting mechanical engineering here in Brazil. I have come to know that many people working at MBB are actually engineers rather than economists and etc. But I have no clue where to start studying if I want to become a consultant. I mean, I know I have to study physics and maths in engineering, but , as an engineering student, what should I study if I want to work for consulting firms ?
All the best,
Decker
Hi Decker, yes it is correct that a good portion of new joiners comes from STEM backgrounds! To tailor your CV towards consulting, I suggest you do some internships in consulting or also large business companies. You need to show that you know what it is like to work in corporations and that you know what you are getting yourself into when applying to consulting. Lots of success to you!! Heinrich
Heinrich you should look at the Cases of Casecoach on TH-cam and react! :)
Hi Sebastian, thanks for the idea :) Might do that in the future. Best, Heinrich
Hi Heinrich, the GMAT prep link you mentioned in the other video description is not working? Could you please share the link?
Hi, yes unfortunately the Economist GMAT Tutor is offline at the moment, apparently they are rebuilding the program at the moment.. sorry but will share the link once it hopefully is back online soon. Best! H
Thanks, looking forward to learning a lot from you! :)
Thank you Heinrich for this valuable content! I indeed have a question: What is your opinion about the T2 and T3 consulting firms? Do you think they might be a reasonable alternative, e.g. if a candidate is interested in a special competence center for which the consultancy is renowned? Thanks again, G.
Hi Günther, trust that T2 can for sure be a great learning experience for the candidate. Regarding even smaller firms, it is important to do a good due diligence of the work done and the quality of colleagues. Best! Heinrich
Great tips 👍. If someone is having years of experience (8-10 years) then do you think he/she should try to be part of these kinda management consulting and work as an employee or take a chance to build own personal brand? Thoughts will be appreciated. :-)
Keep Rocking 😎
Hi Aman, thanks for watching! Depends on your goal. If you want to become an entrepreneur, then I would probably do that right away with the experience you already collected. Lots of success to you! Best, Heinrich
@@FirmLearning Thanks for your thoughts. 👍
Case interview?Awasome...
Looking forward to this as well! :) Best, H
Out of curiosity, do senior managers coming in from industry or another consulting company get cased as well or is it mainly for more entry levels?
Hi, yes as a "normal" experienced hire you will get case interviews as well in most firms. At some point this might stop, but this is rather (junior) partner level. Best! Heinrich
what does she mean by "the customers would have to pay walking out the door..."? at 11:35
Not sure, also not 100% clear what exactly she is saying acoustically..
Walking out the door with Theo (the name of the device). Sounds like a fitbit to me :-)
What about online cases? But those without interviewer. Last week I had one, and I feel like it was much harder because there is no help, no chat at all, and you can't use/demonstrate your interpersonal habilities to differentiate yourself from other candidates...
Fully agree, online cases for sure do not help you to portray yourself in the best way.. Best! H
I don't think the customer base implication is correct
because the proportion of early adopters would be larger in others, whose customers are relatively younger
and have more literacy in tech and networking services, that's why they switched to others from AT＆T/Verizon
what do you think?
Fair point, thanks for sharing! Best, Heinrich
This is so amazing! I'm starting to learn Germany , your mother tounge! Any tips?
Hey Arya, great stuff :) Probably best to get yourself a learning partner and then have conversations with the person in German. Once you achieved a certain proficiency level, try to engange with some German organizations, maybe get a role at a German charity, and thereby your language skills will naturally increase :) Best, H
@@FirmLearning always helping! Thanks
Hi Heinrich, may I ask you a question?
Is the case interview also applicable for undergrads applying for an internship at MBB? Thank you for the amazing videos, they are very helpful.
Hi Eddard, yes the interview format is very similar for internship and for graduate level positions. Best! Heinrich
@22:07 the screen is not visible because Heinrich's display is covering it
You are right, thanks for the feedback Omkar! Best, Heinrich
why didn't he talk about potential risks even though he was asked about it?
Thanks for pointing out! Best, Heinrich
Early adopters... for a smartwatch in 2020. And not a single question about the competition. Has Bain ever heard of the Apple Watch?
;) Thanks for watching! Best, H
1) I would have tend to ask about current and any known potential future market competition.
2) Secondly, I felt the conversation was mostly around At&t and Verizon's vs others. In reality the company could potentially drive the sales too if it's a well established and trusted brand in consumer electronics. And this will be even more crucial if there is competition.
Interesting observations, thanks for sharing Chandrava! Appreciate it! Best, Heinrich
@@FirmLearning Thanks for your response and thanks for making great videos.
There was no question regarding the competitor or substitute of the product.
Hello sir , I am aspiring to become a consultant , and I was hoping if you could suggest some resources from where I can prepare for Case Interviews.
Hi Adithya, check out the content from Victor Cheng (caseinterview.com) - found that quite helpful! Best, Heinrich
What about comparing the product to other competitive products in the market? That could affect the market share.
Yes, sounds like a fair line of thought to follow as well! Best, H
Could you plz help me to suggest which all certification is The Best for MBB?
I am gonna pursue MBA soon.
Hi Dhanush, certifications are not really important for MBB, this is not what recruiters look for (especially client-facing roles). The quality of your academic degrees, the quality of your work experience and leadership, this is what matters. Lots of success to you! Best, H
@@FirmLearning thank you so much.
Secondly I am gonna pursue my MBA from top 10 institutions of india. But I am very avg marks during my school and colg.
But have experience in different different domains.
Marks will really impact of my selection?
@@dhanush-karnagandvi2994 Hi, yes grades will for sure be important, though it can be compensated if the rest of your profile is stellar. Best! H
Is there a reason why both are using "understand" instead of "know"? Are interviewers looking at these minor communication facettes?
"Understand" is just super commonly used as a word in consulting. Stresses more that this is what you currently "understand" but that this might also be fallible to invite clients to correct you ;) Best, H
Im curious, how would you guys calculate 1/18 exactly?
Do 100/18
It's easy to comment after the fact versus being in the current situation, but the numbers he should have been asking for are the current subscriber without already having a wearable. Basing projections only on subscriber totals for a carrier without taking into account those already with a wearable device (usually brand loyal) while trying to introduce a new product is not an accurate projection. I would have suggested not going with at&t and verizon due to that. Going to the other carriers with a larger subscriber base (with the same unknowns of who has a wearable) and already demonstrated mentality of thinking outside of the box and greater opportunity to try something new. Let the down votes begin...
Interesting thoughts, thanks for sharing. Best! Heinrich
Strange, no questions on competitors
Good point! Thanks for watching Frank! Best, Heinrich
I know this is an old video, but shouldn’t we focus on the current smart watch market for those companies and their potential growth rate? Why is he focused on the total customer base?
Hi, definitely always makes sense to segment the market. Thanks for sharing! Best, H
20% growth for large telecom carriers…
Is it Consiiiitinngg or consulting?
Why is that lady so defensive " Why do you want to understand that?... Why do you want to know that 😠?"
Agree, these questions do not come across great. Best, Heinrich
Why is the interviewer so stressed ?
Oh this is totally a staged mock interview. That would have thrown that interviewer a loop.
Hi Nunya, yes no doubt that this is staged! Best, Heinrich
I know this is a mock situation but I really don't like plowing forward with a solution without more analysis or at least giving it as a hypothesis. Stated in the beginning was that att Verizon wanted exclusivity. They are competitors and I'm not following giving it to both as exclusive. Im also wondering about the penetration rate. If that includes phone service I don't necessarily see the correlation to device sales. Details on a hypothetical. Just my thoughts.
You need to respect the boundary conditions / scope that the client gives you ;) Of course, in an actual project you can always challenge the client on that. Best! H
Ooh that’s a good-looking interviewer 😜
;)
I didn't like the lady.
Thanks for watching!
lol like that matters when you're the one being interviewed
This is absolutely ridiculous, who on earth would pay these Bain, McKinsey etc. guys for their services? They look like robots, 0 value added.
Sorry to hear the video does not appeal to you. Still thanks for watching. Best, H
@@FirmLearning Sorry I didn't make myself clear. Your content is great, but I personally believe consultancy firms provide little value added for their clients and their services are overpriced. It's just an opinion. Better to do your own homework rather than ask a third party to tell you how to do things. I worked in M&A at an investment bank for many years and have the exact same opinion on i-banking.
@@blackratpenat guess they do add something, otherwise firms wouldn’t pay the horrific prices
Never over-estimate the cognitive capabilities of C-level executives :D Often they need someone to tell them the obvious :D
Thats why consulting only works in areas where anglo-american business culture has a huge impact. In future top markets like China f.E. consulting is frawned upon. Only foreign companies doing business in those markets hire consultants. Domestic companies wont ever hire the guys in blue and co because they realise its mostly western bullshit. But in the first world and Middle East, where most of the dumb money resides, consulting is still a big business - Until the economy eventually collapses and people have to start earning money the hard way again and not by bullshitting and wasting what generations before them build/invented. You can see the first signs here in Germany already.