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McKinsey & Company Consultant Interview Questions, Process, and Tips
Top McKinsey & Company Consultant Interview Questions and Answers
- Q1. The CEO of a chain of private hospitals wants to reduce attrition among senior doctors. This is a serious issue because when senior doctors leave they take along patients ...read more
- Q2. Case type- Abstract .Q :- The oil price has been falling for some time. What do you think will be the impact?
- Q3. Our client is a large PSU bank which wants to improve its customer experience. How would you help our client? (Case Type* Banking Industry (Operations)
McKinsey & Company Consultant Interview Experiences
66 interviews found
Anonymous
Interview Questionnaire
10 Questions
- Q1. Why Mckinsey?
- Q2. What is your USP?
- Q3. Conflicts you faced during your leadership stints and how did you resolve them?
- Ans.
I have faced conflicts during my leadership stints and resolved them effectively.
Conflict with team members over project priorities - resolved by facilitating open communication and finding a compromise.
Conflict with a client regarding project scope - resolved by actively listening to their concerns, proposing alternative solutions, and reaching a mutually beneficial agreement.
Conflict with a senior manager regarding r...
- Q4. Was asked multiple examples on same situations
- Q5. Do you have any questions on Mckinsey?
- Q6. Case on launching a youth mobile package involving 3G services
- Ans.
Launching a youth mobile package with 3G services
Identify target audience and their needs
Develop pricing strategy and marketing plan
Partner with telecom companies for network support
Offer value-added services like music streaming and gaming
Ensure user-friendly interface and customer support
- Q7. Case on Product Mix strategy for an automobile firm
- Ans.
Product mix strategy for an automobile firm
Analyze market demand and consumer preferences
Identify target segments and their needs
Develop a product portfolio that caters to different segments
Consider factors like pricing, features, and branding
Regularly review and update the product mix based on market trends
- Q8. Case on supply chain management of a firm owning chain of restaurants
- Q9. Resume Based Questions :-- Your achievements
- Q10. - Was asked to Connect dots on the points on my resume which I had highlighted
Interview Preparation Tips
Tips: Prepare your HR questions well. Be thorough. Think of multiple examples to bring out the spike you plan to capitalize on the most.
Skills: case analysis,
College Name: NA
Interview Questionnaire
13 Questions
- Q1. First question was Consult vs i-bank. My reply was centered around how consultancy uses a diverse skill set and how my background makes me more suitable for consultancy
- Q2. General discussion about life at College. How am i finding the academics at the B-School
- Q3. Most of the discussion was about my work-experience. I had handled some industrial relations problem in my job, that was discussed for some 5-7 minutes
- Q4. Again discussion about my job and how my employer was doing in the market
- Q5. What will be 3 good and 3 bad things that my sub-ordinates will say about me if they call him up now.
- Ans.
My subordinates would say I am knowledgeable, approachable, and organized, but can be overly critical, micromanaging, and inflexible.
Good: Knowledgeable - I have a deep understanding of the subject matter and can provide valuable insights.
Good: Approachable - I am open to listening and approachable for any concerns or questions my subordinates may have.
Good: Organized - I maintain a structured and organized approach to...
- Q6. Towards the end he asked me how did I find the interaction, to which I said that i was expecting a case, but I am not complaining ;) After this round they gave me strong signals
- Q7. Again some general talk and then he said lets discuss a case. He asked me to choose between Manufacturing and Services, i chose services (dont know why), then he said will financial services be OK (i could...
- Q8. Case: A UK bank wants to come to India and they have hired you as a consultant. What will you do?
- Ans.
As a consultant for a UK bank wanting to enter India, I would conduct market research, analyze regulations, and develop a strategic plan.
Conduct market research to identify potential customers, competitors, and market trends
Analyze regulations and legal requirements for foreign banks entering India
Develop a strategic plan for market entry, including location, product offerings, and marketing strategy
Establish partnersh...
- Q9. He then specifically told me to ask questions
- Q10. Q1 asked by me: Legal feasibility of a foreign bank coming to India. he told me the legal situation
- Q11. Q2 asked by me: What kind of bank is UK bank, retail/investment? ans. Universal banking
- Q12. What are its strengths: a strong retail banking business in UK and neighboring countries?
- Ans.
The strength is a strong retail banking business in UK and neighboring countries.
The retail banking business has a large customer base in the UK and neighboring countries.
The business has a strong reputation for providing quality services and products.
The business has a wide range of financial products and services to offer its customers.
The business has a strong online and mobile banking platform.
Examples of the busin...
- Q13. Then i attempted to analyze it through marketing fundae: what are the needs of Indian consumer which this bank will be able fulfill
Interview Preparation Tips
Experience: Very friendly setting (some parts of conversation were in Hindi, which really took me by surprise)
Positive signals in the end
Round: HR Interview
Experience: Again NO CASE
Round: HR Interview
Experience: Then sort of ruling out investment banking operation for the time being, we went to retail banking a an option.
Round: HR Interview
Experience: I identified:
Investment options/range of products
Reliability/Confidence of investment in a bank (something similar)
..few more but nothing exceptional
and then after some prodding i came up with “investment advice” which is a need that the current banks in India are not able to fulfill and how this bank can play a role there.
Then we went onto the implementation aspect.
Finally he assumed the role of a CEO and asked me to narrate to him the solution in a cogent manner.
This is where it all ended. They showed keen
General Tips: Key Observations across all consult interviews:i) very friendly setting (much beyond expectations)ii) great focus on understanding why consult and not i-bankiii) flow of interview very smooth with one thing leading to another, as in no abrupt change of topic.iv) the questions u ask them in the course of case discussion are as important as the answers you offer.
Skills: Case analysis, Behavioral
College Name: NA
Interview Questionnaire
13 Questions
- Q1. HR Based/Personality Questions
- Q2. Tell me about yourself
- Q3. My biggest achievement
- Ans.
My biggest achievement is completing my Master's degree while working full-time.
Completed Master's degree while working full-time
Maintained high grades and received academic awards
Balanced work, school, and personal life effectively
- Q4. Half of it was personal
- Q5. I was allowed to talk on “Tell me about yourself” for around 5 minutes
- Q6. Again mostly personal
- Q7. Was cross-questioned a lot
- Q8. A lot on the social intiative I had conceptualised and executed
- Q9. More than half the interview again personal
- Q10. On my Resume – Was questioned on all parts – Positions of Responsibility, Work-ex, Passion
- Q11. There was a case on “Marketing strategy for 3G phones” ?
- Ans.
Yes, there was a case on marketing strategy for 3G phones.
The case likely involved developing a marketing plan for promoting 3G phones.
Key considerations may include target audience, pricing, distribution channels, and promotional activities.
Examples of strategies could be emphasizing the benefits of faster internet speeds, highlighting advanced features, or targeting specific market segments.
The case may have also exp...
- Q12. The case went like this “I urgently have to go to New york and my travel agent tells me that I have to catch a Lufthansa till paris and catch a continental from there till new york. He charges me Rs.50000...
- Ans.
The travel agent charges Rs.50000 for a Lufthansa flight to Paris and a Continental flight to New York. What part goes to each airline?
The cost breakdown will depend on the agreement between the travel agent and the airlines.
Typically, the majority of the cost will go to the long-haul flight, which in this case is the Continental flight from Paris to New York.
Lufthansa will receive a smaller portion of the cost for the...
- Q13. Then there was a case on “Strategy for introducing Indian basketball league on the lines of Indian premier league”
Interview Preparation Tips
Experience: It is very important to prepare it in a way that sustains the interest of interviewer
Round: HR Interview
Tips: Please be thorough on your own resume
Round: Case Study Interview
Experience: Followed the standard structures.Discussed about “Experience marketing strategy” for which interviewer was very happy.
The case went like this “I urgently have to go to New york and my travel agent tells me that I have to catch a Lufthansa till paris and catch a continental from there till new york. He charges me Rs.50000 for the same. Tell me what part of this will goto Lufthansa and what part will goto continental”- I was told I have to use concepts of economics – demand and supply to solve the case.It was a very difficult case and I personally feel I did not do it very well.
Tips: Prepare your HR questions very well. Come across as an energetic and interesting person.
Skills: Case analysis, Behavioral
College Name: NA
Interview Questionnaire
10 Questions
- Q1. Engagement Manager, Mumbai office
- Q2. General Questions on Resume which I answered well as I was prepared
- Q3. Interview 1 : Partner, Mumbai Office
- Q4. Questions on resume
- Q5. What are my greatest achievements.
- Q6. Partner, Gurgaon Office ( Videoconferencing )
- Q7. Again questions on my resume and experience before MBA
- Q8. Was asked a guesstimate question to find the number of smart phones in the country for the next 3 years.
- Q9. The interviewer asked many questions on why I took particular assumptions. Did Ok but it was a bit difficult due to video conferencing interviews
- Q10. An IT company is following loss in profits. Find out the cause and how will you solve the problem
- Ans.
Identify cause of loss in profits for IT company and propose solutions.
Analyze financial statements and identify areas of high expenses or low revenue
Assess market competition and adjust pricing or marketing strategies
Evaluate internal processes and streamline operations to reduce costs
Invest in research and development to create new products or services
Consider mergers or acquisitions to expand market share
Implement c...
Interview Preparation Tips
Experience: Actual Experience : Mckinsey typically conducted 2 rounds with 2 interviews in each round. Round 1 is with Engagement Managers and Round 2 is with Partners.
Round: Case Study Interview
Experience: Analysed the various reasons for the fall and eventually found out the problem. As I had done similar cases knew what kind of solutions could be suggested. Interviewer was happy with the performance and I was through to the Round 2/ Partner round without having my second interview.
Round: HR Interview
Experience: My IIT Rank if I applied to the IITs. He was a bit dissapointed that I wasn’t in the core committees at college like Placement or Academic committee and that I was not from IIMABC.Anyways I was asked to solve a guesstimate to find the number of black and yellow taxis in Mumbai. I came up with different approaches as he had asked me 5 ways to come to the same answer. Did my best to come up with 5 approaches and he seemed satisfied. It was a nice discussion and he asked me how did I felt it went ? I said it went well and asked him the same :) ? He said he won’t say that to me now. After this I had to attend interview with another partner who was out of town.
Round: HR Interview
Experience: The interview was held at Mckinsey Gurgaon office after 2 weeks. The interview was conducted through video conferencing as the partner was at some other location. It was not easy as there was some lag in the conversation.
Could not convince the interviewer with few of my assumptions. The guesstimate number which I quoted was on the higher side.
Tips: Mckinsey pays a lot of importance to PI apart from the case. Its beneficial to be prepared for the same. Could have done well had the last round been face to face. The lag during videoconferencing made it a bit difficult.
Skills: case analysis, behavioral
College Name: NA
McKinsey & Company interview questions for designations
Interview Questionnaire
5 Questions
- Q1. Tell me about yourself
- Ans.
I am a highly experienced consultant with a strong background in problem-solving and strategic planning.
Over 10 years of experience in consulting for various industries
Expertise in analyzing complex business challenges and providing effective solutions
Proven track record of successfully leading teams and delivering results
Strong communication and presentation skills
Ability to build and maintain client relationships
Exam...
- Q2. Why Consulting
- Q3. Why not Finance and Why BCG?
- Q4. Client is a motor Insurance company that has lost market share in the past 1 year. What can be done?
- Ans.
To regain market share, the motor insurance company can focus on improving customer experience, offering competitive pricing, and expanding their coverage options.
Conduct market research to identify customer needs and preferences
Invest in technology to streamline processes and improve customer service
Offer discounts and promotions to attract new customers
Partner with other companies to offer bundled services
Expand cove...
- Q5. Client wants to bid for an IPL franchise, Lucknow Nawabs. Client’s focus in more on profits than winning the tournament. What strategy to follow
Interview Preparation Tips
Experience: I started off by asking about the company, the customers it serves to, the geographies it is located in. Interviewed me that its a pan-India player that provided auto, bike and truck insurance.I asked if the loss in market share is across the 3 product categories. He said yes.Then I asked the market share figures of the top 5 players this year and the year before that. Turned out, that our company (which was the second largest) and the largest company had both lost market share to some other company.I thought that there could be issues in the traditional 4Ps, plus there could have been some regulatory changed which could have led to the market share loss. I asked the interviewer if some regulatory change had happened. He said, yes, basically IRDA had detariffed the insurance industry which meant that the insurance players were free to decide the premiums they were charging. So, earlier IRDA fixed the premiums but now premiums charged could be freely decided by the companies. So the problem is identified!The second part of the problem is that why had our player not changed its premiums? Our player didn’t have enough data. Premiums should depend upon the driver profile (charge higher from drivers that are likely to committ more accidents), premiums should also depend on the number of kilometres a guy is driving its vehicle, and the car type (someone with a safari might be more risky a driver than someone with an alto) etc etc.. (There will be other factors also, I listed some of them down, but the above 2 mentioned factors were the most crucial ones).The thing was that our company wasn’t really good in data collection for its customers. So we didn’t have enough data to vary our premiums. So in the long term, we should try fixing our data collection part (the form filling at the time of selling insurance). Short term solution was that we can look at the premiums company C (which was eating into the market share) is charging and directly try to copy them.
Tips: Market share has been lost in the past 1 year only. So it was very likely that some change has happened in the overall insurance market. So in such cases it’s very important to focus on the regulatory change/some other change aspect apart from the 4 Ps.
Round: Case Study Interview
Experience: Pretty simple case. List down all the revenue streams and the cost streams.Revenue: Ticket revenue, Sponsorships, Merchandize, Revenue share from BCCICost: Player cost, Ground cost, Coach/Support Staff costs, Admin expenses (like hotel booking/travel for players etc), Marketing costs.Solution was mostly centered around the kind of players to choose, but the interviewer was looking at whether I can identify all the revenue and cost streams or not. Else, the case was pretty simple.
Tips: Start of a consult interview is HR. Make sure that your HR answers (Why consult/why BCG ) are really good. Differentiate yourself from the others here. I had done thorough research and I was very convincing in my answers.
And of course, do the cases well
Think out loud during the case interview. This helps because if you are missing out on something, the interviewer might actually tell you that.
For example- in one of my cases I was missing out on a cost stream. Interviewer said, you have missed out on an important cost.
So I thought out loud. “Ok, this is the process of doing XXX, and this process should entail this this and this cost at this this and this stage”. I had missed out on an important phase in the process itself because of which I wasn’t able to decide the cost in the first go. The interviewer then said that I had missed out on this stage of the process, deciding the cost after that was simple.
General Tips: Keep telling the interviewer your underlying thinking/reason when you’re doing anything during the interviewer. The interviewer will correct your underlying thinking if it’s wrong, which helps.
Skills: case analysis, interacting
College Name: NA
Get interview-ready with Top McKinsey & Company Interview Questions
I applied via Referral
Interview Questionnaire
6 Questions
- Q1. Agenst for a life insurance company are not as productive as LIC agents -Why (Case Type* Labor productivity)
- Ans.
Agents for a life insurance company are not as productive as LIC agents due to various factors.
LIC agents have a larger customer base and brand recognition, resulting in more leads and sales.
LIC agents receive extensive training and support, enabling them to effectively sell life insurance policies.
Life insurance company agents may face challenges in building trust and credibility with potential customers.
LIC agents of...
- Q2. A marathi newspaper wants to enter Nagpur; calculate break even volume.(Case Type* Simple quantitative)
- Ans.
Calculating break even volume for a Marathi newspaper entering Nagpur.
Determine fixed costs such as rent, salaries, and equipment.
Calculate variable costs such as printing and distribution.
Determine the selling price and expected profit margin.
Use the formula BEV = Fixed Costs / (Selling Price - Variable Costs) to calculate break even volume.
Consider market demand and competition when determining expected sales volume.
- Q3. Introduce yourself
- Ans.
I am a seasoned consultant with 10+ years of experience in strategy, operations, and project management.
10+ years of experience in consulting
Specialize in strategy, operations, and project management
Worked with Fortune 500 companies and startups
Led successful projects resulting in cost savings and revenue growth
- Q4. How was your first interview
- Ans.
My first interview was nerve-wracking but ultimately successful.
I prepared by researching the company and practicing common interview questions.
I arrived early to make a good impression.
I dressed professionally and maintained good eye contact throughout the interview.
I asked thoughtful questions about the role and company at the end of the interview.
I followed up with a thank you email to express my gratitude for the o
- Q5. Talked about merit scholarship, BYOB (a competition) and said that the CV was very impressive and he hoped that I could match up in the case
- Q6. Asked 2 small cases
Interview Preparation Tips
Experience: 10-15 min PI and 20 min case is the usual interview.Broke it into people or process problem; Broke people into capability and willingness and said that capability could be improved through training; (Incentives were ok) For process suggested easier documentation etc. Also came up with improving branding which was what he wanted.
Important part was identifying sources of revenue as sales and advertising After data was provided for both, it was a simple BEV calculation.
Tips: What was good: PI, structure in both cases What could be better: Speed of calculation as I was double checking to avoid any minor mistake
Skills:
College Name: Indian School Of Business (ISB)
I applied via Referral
Interview Questionnaire
6 Questions
- Q1. Tell me about yourself
- Ans.
I am a dedicated and experienced consultant with a strong background in problem-solving and client management.
Over 5 years of experience in consulting roles
Skilled in analyzing data and providing strategic recommendations
Proven track record of successfully managing client relationships
Strong communication and presentation skills
Certified in relevant consulting methodologies
- Q2. If you were CEO of Tata Motors what will you do with Nano now
- Ans.
I would discontinue Nano and focus on developing electric and hybrid vehicles.
Conduct a thorough analysis of the market demand and production costs for Nano
Invest in research and development of electric and hybrid vehicles
Partner with other companies to share resources and expertise
Rebrand Tata Motors to focus on sustainability and innovation
Offer incentives and subsidies to customers who purchase electric and hybrid v
- Q3. Tell me about BYOB(a competition) and what you suggested
- Ans.
BYOB is a competition where participants bring their own business ideas and pitch them to a panel of judges.
I suggested that participants focus on creating a unique value proposition for their business idea.
I also recommended that they conduct thorough market research to understand their target audience and competition.
Additionally, I advised them to create a solid business plan and financial projections to demonstrate...
- Q4. Any leadership experience that defined you
- Ans.
Leading a team through a challenging project deadline
Managed a team of 10 individuals to successfully complete a project ahead of schedule
Provided clear direction and motivation to team members during high-pressure situations
Implemented effective communication strategies to ensure everyone was on the same page
Handled conflicts and obstacles with a calm and solution-oriented approach
- Q5. Where else are you interviewing
- Q6. Where is Mck in your pecking order
- Ans.
Mck is a top-tier consulting firm in my pecking order.
Mck is one of the most prestigious consulting firms in the world.
Their reputation for excellence and expertise is unmatched.
I have a great deal of respect for Mck and their work.
While there are other consulting firms that I also admire, Mck is definitely near the top of my list.
Interview Preparation Tips
Experience: Interview was relaxed and just a PI discussion which was good. Was given the indication that I would surely make the final round and was in good shape
Skills:
College Name: Indian School Of Business (ISB)
I applied via Referral
Interview Questionnaire
6 Questions
- Q1. About yourself
- Q2. Tell me something not on your resume
- Ans.
I am fluent in three languages: English, Spanish, and French.
I learned Spanish from my parents who are native speakers.
I studied French in school for 6 years and spent a semester studying abroad in Paris.
Being multilingual has allowed me to communicate effectively with a diverse range of clients and colleagues.
- Q3. How has the day been
- Q4. Any other applications apart from consulting forms
- Ans.
Yes, there are many other applications apart from consulting firms.
Financial services
Technology
Marketing and advertising
Education
Non-profit organizations
Government agencies
Healthcare
Real estate
Hospitality and tourism
Legal services
- Q5. (in the end after the case) how do you think your interviews have been
- Q6. Global truck manufacturer has entered India but is not able to get share from TML and Ashok Leyland in spite of a better product.(Case Type* Growth / Market share)
Interview Preparation Tips
Experience: 10-15 min PI and 20 min case is the usual interview
Round: Case Study Interview
Experience: Confirmed that sales quantity was down and said that I would take factors that affect the purchasing decision for trucks and compare with TML. Came up with factors as brand, actual features and convenience, total cost of ownership; Was asked to look at TCO and figured that lesser TCO was being seen by drivers but not by actual customers who were fleet owners and hence TML trucks were preferred
(Because better mileage gains went to the driver while the service cost for fleet owners was the same, but without the known Tata brand)
Tips: What was good – the PI conversation, Confidence in the case especially as he asked me to use whatever industry insight I had as a result of work ex. What could be better – I was very surprised and taken aback when asked to do the case (Because I thought I had 2 good partner interviews and was given indications that I might get the offer so was not in the frame of mind to solve a case) Do not assume good or bad outcomes from your performance and take it an interview at a time.
Skills:
College Name: Indian School Of Business (ISB)
I applied via Referral
Interview Questionnaire
1 Question
- Q1. Our client is a large PSU bank which wants to improve its customer experience. How would you help our client? (Case Type* Banking Industry (Operations)
- Ans.
To improve customer experience for a large PSU bank, I would focus on enhancing digital banking services, streamlining processes, and implementing personalized customer support.
Develop user-friendly mobile and online banking platforms
Simplify account opening and loan application processes
Implement AI-powered chatbots for quick and efficient customer support
Offer personalized recommendations and tailored financial solut...
Interview Preparation Tips
Experience: He was very friendly and tried to make me comfortable. He asked if I wanted windows to be open or if I was feeling too hot or cold. He asked if I wanted to have tea/coffee. I told him that I was completely comfortable. He first took 2 minutes to first introduce himself and then he asked me if I was nervous. He was happy hear that I was not. It was followed by a 5 min PI, which mainly involved description of my overall profile.
Round: Case Study Interview
Experience: Sameer first asked me how I would evaluate the customer experience in a bank
. I talked about a few factors like- time, user experience judged by feedbacks, complaints & grievances, and ambience. I largely divided the entire banking setup contributing to the customer experience into 3 parts: -People: Number of people present to cater to the customers and the kind of soft skills they possess. Are they trained? Knowledge pool? -Processes: Processes can be seen from two points- first as the overall technology driving the bank in terms of the front end user interface and the back end processes used by the staff (which translates into speed of processing the transactions), and secondly as the overall organization structure itself in terms of the hierarchy of employees and the degree of decentralization of decision making power (as to the levels of approvals required for opening an account etc.)
-Infrastructure/ Ambience: Overall arrangement of the branch, availability of proper air conditioning, location of branches, accessibility, availability of drinking water etc.
Then Sameer said, let’s concentrate on the time it takes for an average customer to process a transaction in a branch. Let’s take any simple transaction like cash withdrawal/ deposit.
I asked him how much does it take for a customer on an average to process a transaction, from the time he enters the bank till the time he leaves. Sameer told me that it takes ~45 min of which 2/3 minutes are needed for the actual transaction and balance time is spent in queue. Here I talked about 5 reasons which could be responsible for this queue: -Number of customer coming in: he said we have ~750 customers who visit the bank -Variability in their arrival: peak hours, morning hours mainly when customers arrive -Capacity (in terms of counters): we have 5-6 counters, each handling dedicated functions -Utilization of capacity: varies based on time of the day and type of transaction -Variability in process: quite automated, not much variability.How can we reduce the average time? -Reduce the need for customers to come to bank: Induce online transactions, mobile banking/ ATMs -Try to shift customers from peak hours to non-peak hours
(Not Possible)
-Capacity: Cross train the counters to deal with all kind of transactions
Sameer then told me that the bank had ATM just outside the branch, but people still used to come in to withdraw the cash. So maybe we can reduce the customers by pushing ATM usage.
I then asked for a few numbers: 750 customers -85% visited for doing transactions -55% of whom were for withdrawing money -65% of those transactions were of amount <10000 -35% of users already had Debit cards & by promoting ATMs we can perhaps increase this to 50% So net we can reduce the number of people coming in by ~110 (i.e. 15%) He seemed quite happy with this number. Then he asked me if I had any questions for him. Sameer told me in his intro that he was an engineer and is working with the finance practice. So I asked him about his journey from being an engineer to a finance specialist. He very happily shared his experience.
Tips: Sameer was very helpful and steered the interview whenever I got stuck. Do’s: If you are stuck think from the first principle, you’ll always find a way out
Skills:
College Name: Indian School Of Business (ISB)
I applied via Referral
Interview Questionnaire
2 Questions
- Q1. Estimate the number of aircrafts taking off from Delhi airport in a day. (Case Type- Estimation case)
- Ans.
The estimated number of aircraft taking off from Delhi airport in a day.
Consider the number of runways and their capacity
Take into account the peak hours and off-peak hours
Consider the types of aircraft and their frequency of takeoff
Look at historical data and trends
Consult with airport authorities and airlines for more accurate information
- Q2. Our client is an LIC firm and productivity of its agents is going down. Please help the client to figure out the reasons for the same.(Case type -Profitability/ Productivity case)
- Ans.
Identifying reasons for declining productivity of agents in an LIC firm.
Analyze sales data to identify trends and patterns
Assess training and development programs for agents
Evaluate compensation and incentives for agents
Review market competition and adjust strategies accordingly
Consider technological advancements and their impact on sales processes
Conduct surveys or interviews with agents to gather feedback and insight
Interview Preparation Tips
Experience: Peeyush(interviewer) gave a 2 min introduction about him and then jumped directly to the case without wasting time.
Case 1. I started the case by mentioning 3 approaches by which I could estimate the number of aircrafts:
1. Supply side- in terms of capacity of the airport
2. Supply side- in terms of the number of carriers and their flights on domestic and international routes
3. Demand side- Demand for flight seats and then using the average capacity utilization and average fleet aircraft size. Peeyush asked me to go ahead with the first approach. I asked him a few questions about the number of runways Delhi airport has, the average operational hours in a day, the time it takes for a flight to land/ take off and the time gap between two take offs or landings. At this point Peeyush seemed impressed and told me that you have cracked this case. Let’s moved ahead to some other case.
Case 2. Productivity= Policies sold per annum/ person So I began the discussion by staking that this metric could be worse off for two reasons, firstly if my agents are incapable of selling policies and there is some issue with respect to their efforts or secondly, if I am employing excessive employees in my organization. I wanted to go ahead with the first one.
I first talked about how the process works when an agent approaches a client to sell the policy. I drew a funnel and explained that leads keep dropping out of the process and only a few buy the policy finally and to know why our agents are unable to sell policies, we need to look at each step in this chain.
Peeyush seemed satisfied with this approach and asked me to go ahead with it. I listed down the following process:
1. Identifying the leads
Here I talked about identification of right set of people whom our agents should target based on the nature of our
product and income class and needs of the clients
2. Our agents approaching the leads and informing them about the product. I listed a number of factors play an important
role at this step:
a) Skills of our agents Skills could be in terms of the educational qualifications of our agents, their knowledge about the
product, communication skills, and marketing skills. Peeyush hinted that it was a key problem. I suggested that this
problem could be resolved by making our hiring policies more robust, providing proper training to our incoming
employees and allocating agents to areas based on their background and demographics of people residing there.
b) Brand of our firm- This was another issue, though Peeyush didn’t want me to elaborate on that.
c) Competitor’s products
d) Terms and conditions of our product
3. Follow up by agents
4. Processing of the policy by our back office
5. After-sale follow up (impact on referrals and brand
Case was mostly done when I identified the agent side and brand issue, however Peeyush was just patiently listening to me and waiting for me to finish. He seemed satisfied with both the cases and their outcomes. I asked him about what career option could have given him the same degree of satisfaction as consulting and Mckinsey. Here he mainly talked about how much he liked consulting and what other options he had faced and evaluated over the course of his life.
Skills:
College Name: Indian School Of Business (ISB)
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McKinsey & Company Interviews By Designations
- McKinsey & Company Consultant Interview Questions
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Interview Questions for Popular Designations
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McKinsey & Company Consultant Interview Process
based on 1 interview
3 Interview rounds
- HR Round
- Case Study Round
- Personal Interview1 Round
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McKinsey & Company Consultant Reviews and Ratings
based on 4 reviews
Rating in categories
|
Business Presentation Specialist
566
salaries
|  ₹0 L/yr - ₹0 L/yr |
|
Analyst
237
salaries
| ₹0 L/yr - ₹0 L/yr |
|
Associate
229
salaries
| ₹0 L/yr - ₹0 L/yr |
|
Consultant
194
salaries
| ₹0 L/yr - ₹0 L/yr |
|
Senior Business Presentation Specialist
190
salaries
| ₹0 L/yr - ₹0 L/yr |
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