Although a consulting CV may look similar to a standard CV, the expectations differ considerably. A standard CV summarises professional experiences, while a consulting CV must highlight specific skills and achievements, supported by measurable outcomes. It should be concise, results-oriented, and include quantifiable successes in the following areas:
Academics: Include the degree title and years of study. Emphasise analytical courses (with grades, if applicable), publications, scholarships, prizes, or awards.
Professional Experience: Focus on your role and contributions. Be sure to quantify your achievements.
Leadership Roles: Highlight leadership and entrepreneurial activities, such as founding a society, fundraising, or consulting projects (e.g., CapitOx).
Behavioural interviews, also known as FIT interviews, assess whether candidates display the skills required to perform well in a consulting job. They are used to dive deeper beyond the resume and better understand candidates’ skills and qualities. Every consulting firm asks behavioural and fit interview questions, so spending sufficient time preparing for them is important.
Tell me about a time when you used data to solve a problem.
Give an example of a time when you disagreed with your manager.
What accomplishment are you most proud of?
Describe a situation in which you handled conflict while working on a team.
What is a piece of feedback you have received from a former supervisor or colleague?
Tell me about a time when you failed.
The skills being tested are: 1) Problem-solving abilities. 2) Leadership capabilities. 3) Ability to incorporate feedback into performance. 4) Communication skills. 5) Analytical skills.
Read your CV and cover letter and make sure you can talk about all the experiences mentioned there in considerable detail. Adopt the STARL technique when answering questions: S – Situation – Describe the situation/context within which your example is set in. T – Task – Describe the task you had/were responsible for. A - Action – Describe the actions you took to fulfil the task. R – Result – Describe the result. Try to quantify the impact. L - Learn - What did you learn?
Case interviews are the most integral part of the consulting application. These interviews consist of solving business case studies, which are hypothetical business problems or scenarios presented during interviews or prep sessions. Casing aims to evaluate a candidate's problem-solving ability, business acumen, analytical skills, and structured thinking. It typically involves:
Analysing a problem: Candidates must break down a complex business issue into manageable parts.
Asking clarifying questions: To ensure understanding of the problem's context and objectives.
Structuring a solution: Using frameworks or logical structures to guide the analysis.
Quantitative analysis: Performing calculations (e.g., market sizing, profitability analysis) to assess financial or operational metrics.
Presenting recommendations: Summarizing findings and suggesting actionable strategies or solutions.
To solve a case, you need some basic skills:
1) Problem-solving aptitude
2) Basic understanding of Accounting, Finance, and Strategy
1. Revenue: Income generated from goods/services sold
2. COGS: cost of goods sold (Variable Costs)
3. SG&A: Sales, General, and Administration – major non-production cost items
4. Overhead: Non-Labour expenses needed to run the business (Fixed Costs)
5. Maintenance Expense: The cost to bring an asset back to working or earlier condition
6. Depreciation or Amortization: the reduction of asset value as a result of use
7. Profit = Revenue – Cost
8. Year-on-Year Growth: Percentage growth in revenue/profit per year
9. Margins: Degree to which a company or business activity makes money. Represents the percentage of sales that has turned into profit – what percentage of the revenue has turned into profit. Profit Margin = Profit/Revenue
10. Fixed Costs: a)Business costs that are constant regardless of the quantity of goods or services produced (subject to time horizon/production period)b)Plant, Property, Equipment (PPE), Supervisor Salaries, Depreciation, Leases, Insurance, SG&A , contract/regulatory fees, R&D (if the company is engineering/tech-heavy)c)Operating Leverage: the proportion of fixed costs in a company’s profit structure coupled with the impact of additional volumes on bottom-line profitability11. Variable Costs:a) Business expenses that vary with the level of outputb)Direct materials (raw materials, subcomponents), director labour (hour salary allocated per unit), utilities (some argue could be fixed or variable), freight/transportation to customers, tariffs/duties, maintenance/repair
12. Gross Profit = Revenue – Direct Costs (Does not include fixed costs)
13. Synergies – Revenue and Cost – the cost savings/or revenue enhancement resulting from the combination of two companies or as the result of new ownership.
14. Valuation: free cash flow (profit)/discount rate
15. Payback period – Initial Investment/Annual Cash Flow
16. Return on Invested Capital – (Value of Investment at Exit/Initial Investment)
17. Breakeven – the point at which a business’s total revenue equals its total costs, resulting in no profit or loss
18. Return on investment
Start with Clarifying Questions: Ask clarifying questions to understand the case’s scope, objectives, and context. Avoid overly detailed questions; focus on the bigger picture to identify the type of case and key factors.
Structure Your Approach: Use established frameworks (e.g., 5Cs, 4Ps, Mergers & Acquisitions) or create a customised framework based on the case. Organise your notes into clear categories (e.g., Market, Competition, Costs, Customers).
Problem-Solving Mindset: Break the problem into smaller parts and work through each logically.Prioritise key issues and identify the most impactful levers (e.g., cost structure, revenue drivers).
Use Both Top-Down and Bottom-Up Approaches: For market sizing, start with population or industry estimates and drill down, or begin with unit-level data and scale up.
Showcase Analytical Skills: Demonstrate clear, step-by-step thinking. Don’t rush into answers; think out loud, and involve the interviewer in your thought process.Use quantitative analysis when required, but ensure your assumptions are logical and based on available data.
Take Neat and Organised Notes: Ensure your notes are clear and well-organised for reference throughout the case. Summarise key insights and data as you proceed, avoiding clutter.
Avoid Common Pitfalls: Do not jump to conclusions without proper analysis. Avoid long monologues – engage with the interviewer. If stuck, recap the information you’ve gathered to refocus your thought process.
Leverage Frameworks When Appropriate: Familiar frameworks (e.g., for pricing, growth, or profitability) can provide a solid foundation but adapt them to the case’s specifics. Frameworks should be a starting point, not a rigid solution.
Manage Time Effectively: Quickly identify key aspects of the case and focus on areas with the most potential impact. Don't get bogged down in minor details or calculations unless crucial to solving the case.
Practise Quick Maths: Practise mental maths and using approximations to handle quantitative aspects confidently. Understand key formulas and ratios such as break-even analysis, ROI, and contribution margin.
End with a Strong Recommendation: Summarise findings and provide a clear, actionable recommendation. Support your recommendation with logic and data from your analysis. Consider risks and potential next steps to demonstrate forward thinking.
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