If you aspire to join the ranks of elite consulting firms like McKinsey, BCG, or Bain, your journey starts with mastering the case interview—a cornerstone of the consulting recruitment process. These interviews are designed to test your problem-solving skills, creativity, and ability to think on your feet. While intimidating at first glance, case interviews can become manageable—and even enjoyable—with the right preparation. Enter Marc P. Cosentino's Case in Point: Complete Case Interview Preparation, the definitive guide that has helped countless candidates secure their dream consulting jobs.
What Makes Case in Point Stand Out?
Marc P. Cosentino demystifies the case interview process by offering a structured, practical approach that combines theory with actionable strategies. Whether you're new to case interviews or looking to refine your skills, Case in Point equips you with frameworks, real-world examples, and insider tips to succeed.
Let’s delve into some of the book's most valuable lessons and how you can apply them.
1. Frameworks for Problem-Solving: The Ivy Case System
A common mistake in case interviews is diving into details without a clear strategy. Cosentino’s Ivy Case System provides a roadmap for tackling cases systematically.
Example: Profitability Case
Imagine you’re asked, “Why has our client’s profitability declined?” Instead of throwing out random ideas, you can apply the profitability framework:
- Revenue: Analyze changes in pricing, volume, or product mix. For instance, has a competitor launched a similar product at a lower price?
- Costs: Examine fixed and variable costs. Are raw material prices rising? Is the supply chain inefficient?
This structured approach not only keeps you focused but also demonstrates to the interviewer that you think like a consultant.
2. Market-Sizing Questions: Thinking on Your Feet
Market-sizing questions are a staple of case interviews. These questions test your ability to make logical assumptions and calculate estimates.
Example: Market Size for Coffee Shops
“How many cups of coffee are sold in Riyadh each day?”
- Estimate the population of Riyadh: ~7 million.
- Assume 50% drink coffee daily: 3.5 million.
- Assume each person drinks 1 cup per day: 3.5 million cups daily.
This logical breakdown showcases your ability to think systematically under pressure.
3. The Power of Communication: Tell a Story
In consulting, how you present your findings is as important as the findings themselves. Cosentino emphasizes the importance of storytelling in case interviews.
Example: Structuring Your Response
When asked to recommend a market-entry strategy, organize your response like this:
- Headline: “Based on the analysis, I recommend entering the market through a joint venture.”
- Supporting Points: Highlight the market size, competitive landscape, and cost advantages.
- Conclusion: Summarize the benefits and potential risks.
4. Behavioral Interviews: The STAR Method
Consulting interviews aren’t just about solving cases—they also assess your soft skills through behavioral questions. Cosentino’s STAR method helps craft compelling answers:
- Situation: Briefly describe the context.
- Task: Explain your role.
- Action: Detail the steps you took.
- Result: Share the outcome and impact.
Example: Leadership Question
“Tell me about a time you led a team under pressure.”
- Situation: “During university, I led a team for a case competition.”
- Task: “Our challenge was to develop a sustainability strategy within 48 hours.”
- Action: “I delegated tasks based on strengths, facilitated brainstorming sessions, and ensured clear communication.”
- Result: “We won first place, and our strategy was praised for its feasibility.”
5. Practice Makes Perfect: Real-World Cases
Cosentino provides numerous practice cases, each with detailed solutions. These aren’t hypothetical scenarios—they mirror real challenges faced by consultants.
Example: Growth Strategy for a Tech Startup
“How can a startup increase its user base by 20%?”
- Explore Market Segments: Target niche audiences, like students or remote workers.
- Leverage Partnerships: Collaborate with established brands for co-marketing campaigns.
- Optimize Pricing: Introduce freemium models to attract new users.
By practicing similar cases, you’ll become comfortable tackling diverse problems.
6. Navigating the Unexpected: Flexibility is Key
Interviews often throw curveballs to test your adaptability. Cosentino advises staying calm and reframing challenges as opportunities to showcase creativity.
Example: A Curveball Question
“What would you do if your client’s main competitor launched a disruptive product?”
- Acknowledge the disruption: “This poses a significant challenge to our client’s market share.”
- Suggest immediate actions: “We could conduct market research to understand consumer preferences and explore rapid innovation opportunities.”
- Think long-term: “A loyalty program might help retain customers.”
Why Aspiring Consultants Should Read Case in Point
Consulting firms seek candidates who are analytical, adaptable, and articulate. Case in Point provides a comprehensive toolkit to develop these qualities. Beyond the frameworks and practice cases, the book offers invaluable insights into thinking like a consultant.
Final Tips for Aspiring Consultants
- Start Early: Case prep takes time. Dedicate a few hours weekly to practicing cases and refining your communication skills.
- Seek Feedback: Practice with peers or mentors who can provide constructive criticism.
- Stay Informed: Read business news to stay updated on industry trends and real-world cases.
- Be Yourself: Consulting firms value authenticity. Show your personality and unique perspective during interviews.
The Path to Success Starts Here
Marc P. Cosentino’s Case in Point is more than a book—it’s a career-changing resource for aspiring consultants. By internalizing its lessons and practicing diligently, you’ll not only ace your case interviews but also develop the mindset of a true consultant.
Remember, the journey to becoming a consultant is challenging but rewarding. With Case in Point as your guide, you’ll be equipped to tackle any case, impress interviewers, and launch a successful consulting career.