Quick, clear definitions of consulting interview terms.Each page answers the question "What is…?" in plain language with examples.
A job interview format where candidates solve business problems in real-time
Mutually Exclusive, Collectively Exhaustive - the foundational structuring principle in consulting
Personal Experience Interview - McKinsey's behavioral format with deep probing
Estimating the size of a market or quantity using logical assumptions
The most common case type - analyzing why profits have changed
A gamified online assessment testing problem-solving through ecosystem and plant defense scenarios
Delivering a clear recommendation in 30-60 seconds at the end of a case
Interviewer-led (McKinsey) vs Candidate-led (BCG, Bain) case styles
Your structured approach to breaking down a business problem into analyzable pieces
BCG's chatbot-driven online case assessment for screening candidates
Bain's online test measuring numerical reasoning, verbal reasoning, and situational judgment
Behavioral interview assessing leadership, teamwork, and motivation through past experiences
The consulting approach of starting with an answer and testing it, rather than exploring broadly
A visual breakdown of a problem into MECE components to identify root causes
The Pareto principle: 80% of results come from 20% of causes - focus on what matters most
Calculating the point where revenue equals costs: Fixed Costs / (Price - Variable Cost)
Profit = Revenue - Costs, where Revenue = Price x Volume - the backbone of profitability analysis
Porter's framework analyzing how companies create value through primary and support activities
The comprehensive investigation of a target company before an M&A transaction
Compound Annual Growth Rate - measuring average yearly growth with the Rule of 72
A structured document analyzing a proposed investment or decision to justify whether it should proceed
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