Ideally, your answer should be detailed, positive and reciprocal. This is how you make a good first impression and keep the conversation going. On the other hand, simply saying “I'm fine” is an impediment to the conversation. Some interviewers ask this question out of courtesy, but other experienced interviewers can use it to assess customer interaction, which is of utmost importance in consulting.
Second, interviewers want to understand why you would be a good fit for consulting. Your achievements in previous work experiences and the skills you have developed from these experiences are a good indicator. Why are you interested in consulting? Tell me about a time you showed leadership. Why do you want to work at this firm? Market size questions (also known as estimation questions) are designed to test your ability to make reasonable assumptions and estimates in situations where you have limited information.
Questions can include things like: “How many wheelchairs are purchased annually in the U. S.?” Once you have all the data related to the case, you should find an answer that shows that you have taken into account the different factors at play in determining the size of the market (e.g. groups of people who are likely to use wheelchairs, age, demographics, etc.). Segmentation questions are usually a continuation of questions about market size and focus on testing your understanding of more detailed market segments.
Returning to the wheelchair example from the previous case, a segmentation follow-up question could be: “What are the different segments of the wheelchair market in the U. S.?” For example, you can ask if you should consider manual and electric wheelchairs separately or if different types of health facilities would constitute different segments. Once you've collected the data, develop a structured response focusing on three different segments of the market (in this case, those segments could be hospitals, health centers, and personal users). When explaining your answer, be sure to mention each of these segments and explain the thought process behind each of them.
If possible, you should practice your management consulting, job interviews, questions, answers with an audience, and ask for feedback. A great way to structure your response to behavioral interview questions is to use the STAR interview response technique to describe a past situation, the task or problems involved, the action you took, and the outcome of that action. Being able to determine the value of a company is an extremely important part of being a consultant, and the questions about the value proposition are designed to test your understanding of this concept. When an interviewer asks this, it's because they want to know that you're really interested in consulting as a professional career and that you're committed to providing value to the company and your clients. Situational interview questions are like case questions, in the sense that the hiring manager wants to know how you think. Make sure you're prepared to give a firm handshake, make friendly eye contact with your interviewer, and smile when appropriate.
However, I have seen countless interviewees spoil it with a dry, nervous “I'm fine” (both in consulting interviews and in other interviews I conducted after leaving McKinsey).
Management consultingis an exciting field with many opportunities for consultants to develop effective business strategies and help clients to thrive in their respective industries. During this part of the interview, you're likely to find questions that focus on your ability to assess a situation and provide a structured, solution-focused response. For these reasons, I believe that no other consultant besides McKinsey is better suited to my professional needs and objectives. Therefore, when answering this question, you must demonstrate why the consultant you are interviewing for is the best fit for you. He told me that consulting requires two main skill sets which he calls “substance” —basically the work of research and analysis— and “interpersonal skills”.It's a huge waste of resources for a company to interview and offer offers to candidates who apply to the company as an alternative option without the real intention of accepting a job offer.
This question is designed to test your knowledge of the consulting industry and your motivation to choose a specific company. This question (and the next one) may be a cliché but they're very good management consulting job interview questions which can reveal quite a bit about a candidate.