Consulting 101

What should the client do, and why?

Evaluate options and recommend a direction on growth, market entry, pricing or acquisitions.

Example: should a biotech company enter a new market, and which customers should it prioritize?

Recruiting: screening, then interviews.

How does the client put the plan into practice?

Turn recommendations into action: redesign workflows, roll out new systems, manage transformation.

Example: how should the biotech company enter that market, and what steps reach those customers?

Recruiting: screening (often automated), then an assessment with in-person exercises and early interviews, then final interviews.

Same model, smaller scale

• Broad-based strategy work
• More entrepreneurial
• Most are stronger in some geographies, sectors or functions than others

One sector, function or region

• Great if you have a specific interest area
• Thousands of firms, some with a global footprint

Strategy arms of much larger firms

• Also run advisory and implementation practices
• Strategy practices rival the top three in scale and expertise
• Have acquired independent strategy firms: Monitor (Deloitte), The Parthenon Group (EY)

• A varied schedule, potentially with frequent travel
• High-impact, interesting work across sectors and functions
• Attractive exits: big tech, corporate, investing (PE, VC, hedge funds), startups
• Leadership skills, a network and lots of senior exposure
• A widely recognized skill set
• Rapid progression

• Long work hours, often 60 to 80 a week
• High pressure
• Consistent feedback
• Uncertainty about which project comes next

Your background and motivation

• "Walk me through your résumé." Why consulting? Why this firm?
• Behavioral questions: prepare stories about leadership, teamwork and setbacks, such as "Tell me about a time your team disagreed."
• Use STAR (Situation, Task, Action, Result). Explain what you did and what changed.

A business problem, solved live

• Classic cases (profitability, market entry) or a wild card
• Estimation and market sizing, such as coffee sales in Providence
• Written cases: review exhibits and present a recommendation
• Interviewer-led (they choose the next question) or interviewee-led (you decide what to test and ask for data)
• Case math: bring a pen and blank paper, and work without a calculator unless the firm says otherwise

McKinsey, BCG, Bain and peers

• Test structured problem solving and business judgment; no industry expertise expected
• PhDs usually join at the post-MBA level: Associate (McKinsey), Consultant (BCG, Bain)
• Short programs for advanced degrees: McKinsey Insight, Bridge to BCG, Bain ADvantage

You may be asked: Why are a retailer's profits falling? Should an airline enter a new market? Should a private equity firm buy this company? How can a hospital cut patient wait times?

Healthcare strategy boutiques

• Test your knowledge of the healthcare industry and basic science alongside general business acumen
• Look at each company's website
• You do not need to become a business major; think translationally

You may be asked: Should a biotech pursue this disease area? How large is the market for a new diagnostic? Why is a therapy not being adopted? What evidence would payers need? Is the therapy likely to be reimbursed, and how should it be priced? Which indication should come first?

• Know each firm's format: McKinsey cases are interviewer-led; BCG and Bain are mostly candidate-led
• McKinsey adds a Personal Experience Interview: prepare detailed stories about your own leadership and impact
• Expect an online test before interviews (McKinsey Solve, BCG Casey)
• Start early and go to firms' public info sessions to learn the application process
• Work through casing materials such as Case in Point and casebooks
• Network. People who are actively applying are your best friends, not your competition

• Network strategically; not all referrals are the same
• Do not neglect fit interviews. Practice with the career center, family and friends, or AI
• Be yourself: professional but personable. They want someone enjoyable to work with
• They test logical reasoning more than technical detail. You will see things you do not know; keep your composure and work through it clearly
• Keep your application materials concise
• Use your questions at the end of the interview to your advantage

• Take on a pro bono project: help a local nonprofit or small business assess demand, improve a process or evaluate a new program
• Support a startup or university spinout: interview customers, size the market, map competitors
• Look for summer roles in market research, business operations or healthcare analytics

• Do case competitions or independent case study
• Prepare your application materials and map deadlines in a spreadsheet
• Apply wherever applications are open
• Keep networking