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Careers/Job Search Thousands of wannabe consultants have turned to WetFeet’s best-selling Ace Your Case series for practical advice on the dreaded case interview. The fifth Insider Guide in this series offers you 15 new cases, from real consultants, to help you hone your case-interviewing skills to a razor-sharp edge. Each book in the Ace Your Case series offers • An introduction to the case interview—its role in the recruiting process for consulting firms. • An explanation of the most common case question types, from market-sizing questions to resume questions. • Tips for handling each kind of question. • Insight into consulting recruiters’ interview objectives: how they’re evaluating prospective employees. • Practice questions you can complete on your own. • Detailed examples of good and bad answers for each practice question, along with tips for improving your own answers and recovering from mistakes. WetFeet has earned a strong reputation among college gradu- ates and career professionals for its series of highly credible, no-holds-barred Insider Guides. WetFeet’s investigative writers get behind the annual reports and corporate PR to tell the real story of what it’s like to work at speciﬁc companies and in different industries. www.WetFeet.com A c e Y o u r C a s e ® V : R e t u r n t o t h e C a s e I n t e r v i e w W e t F e e t I n s i d e r G u d e i Ace Your Case® V Return to the Case Interview WetFeet Insider Guide

The WetFeet Research Methodology You hold in your hands a copy of the best-quality research available for job seekers. We have designed this Insider Guide to save you time doing your job research and to provide highly accurate information written precisely for the needs of the job-seeking public. (We also hope that you’ll enjoy reading it, because, believe it or not, the job search doesn’t have to be a pain in the neck.) Each WetFeet Insider Guide represents hundreds of hours of careful research and writing. We start with a review of the public information available. (Our writers are also experts in reading between the lines.) We augment this information with dozens of in-depth interviews of people who actually work for each company or industry we cover. And, although we keep the identity of the rank-and-file employees anonymous to encourage candor, we also interview the company’s recruiting staff extensively, to make sure that we give you, the reader, accurate information about recruiting, process, compensation, hiring targets, and so on. (WetFeet retains all editorial control of the product.) We also regularly survey our members and customers to learn about their experiences in the recruiting process. Finally, each Insider Guide goes through an editorial review and fact-checking process to make sure that the information and writing live up to our exacting standards before it goes out the door. Are we perfect? No—but we do believe that you’ll find our content to be the highest-quality content of its type available on the Web or in print. (Please see our guarantee below.) We also are eager to hear about your experiences on the recruiting front and your feedback (both positive and negative) about our products and our process. Thank you for your interest. The WetFeet Guarantee You’ve got enough to worry about with your job search. So, if you don’t like this Insider Guide, send it back within 30 days of purchase and we’ll refund your money. Contact us at 1-800-926-4JOB or www.wetfeet.com/about/contactus.asp. Who We Are WetFeet is the trusted destination for job seekers to research companies and industries, and manage their careers. WetFeet Insider Guides provide you with inside information for a successful job search. At WetFeet, we do the work for you and present our results in an informative, credible, and entertaining way. Think of us as your own private research company whose primary mission is to assist you in making more informed career decisions. WetFeet was founded in 1994 by Stanford MBAs Gary Alpert and Steve Pollock. While exploring our next career moves, we needed products like the WetFeet Insider Guides to help us through the research and interviewing game. But they didn’t exist. So we started writing. Today, WetFeet serves more than a million job candidates each month by helping them nail their interviews, avoid ill- fated career decisions, and add thousands of dollars to their compensation packages. The quality of our work and knowledge of the job-seeking world have also allowed us to develop an extensive corporate and university membership. In addition, WetFeet’s services include two award-winning websites (WetFeet.com and InternshipPrograms.com), Web-based recruiting technologies, consulting services, and our exclusive research studies, such as the annual WetFeet Student Recruitment Survey. Our team members, who come from diverse backgrounds, share a passion about the job-search process and a commitment to delivering the highest quality products and customer service. About Our Name One of the most frequent questions we receive is, “So, what’s the story behind your name?” The short story is that the inspiration for our name comes from a popular business school case study about L.L. Bean, the successful mail-order company. Leon Leonwood Bean got his start because he quite simply, and very literally, had a case of wet feet. Every time he went hunting in the Maine woods, his shoes leaked, and he returned with soaked feet. So, one day, he decided to make a better hunting shoe. And he did. And he told his friends, and they lined up to buy their own pairs of Bean boots. And L.L. Bean, the company, was born . . . all because a man who had wet feet decided to make boots. The lesson we took from the Bean case? Lots of people get wet feet, but entrepreneurs make boots. And that’s exactly what we’re doing at WetFeet.

i e d u G r e d s n i I Ace Your Case® V: Return to the Case Interview 2005 Edition Helping you make smarter career decisions.

WetFeet, Inc. 609 Mission Street Suite 400 San Francisco, CA 94105 Phone: (415) 284-7900 or 1-800-926-4JOB Fax: (415) 284-7910 Website: www.wetfeet.com Ace Your Case® V: Return to the Case Interview ISBN: 1-58207-444-5 Photocopying Is Prohibited Copyright 2004 WetFeet, Inc. All rights reserved. This publication is protected by the copyright laws of the United States of America. No copying in any form is permitted. It may not be reproduced, distributed, stored in a retrieval system, or transmitted in any form or by any means, in part or in whole, without the express written permission of WetFeet, Inc.

Table of Contents Ace Your Case V at a Glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 The Interview Unplugged. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 The Case Interview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Case-by-Case Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Market-Sizing Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Business Operations Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Business Strategy Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Resume Cases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 The Practice Range. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Market-Sizing Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Business Operations Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Business Strategy Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 Resume Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51

Nailing the Case . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 Market-Sizing Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 Business Operations Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Business Strategy Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102 Resume Questions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132

Case-by-Case Rules at a Glance Here’s a summary of the different types of cases you’ll find in this Insider Guide, along with some rules that should help you ace your answer. Market-Sizing Questions • Use round numbers. • Show your work. • Use paper and calculator. Business Operations Questions • Isolate the main issue. • Apply a framework. • Think “action.” Business Strategy Questions • Think frameworks. • Ask questions. • Work from big to small. Resume Questions • Know your story. • Keep the Parent Test in mind. • Let your excitement shine! A t a G a n c e l 1

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