Case Interview Definitions

Quick, clear definitions of consulting interview terms. Each page answers the question "What is…?" in plain language with examples.

What is a Case Interview?

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

McKinsey's gamified problem-solving assessment: Red Rock Study, Sea Wolf and, on longer invites, Sustainable Future Lab

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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