PwC Case Interview (+Strategy&)

Updated

Rocking the PwC or Strategy& case interviews can be a daunting task. You have 30 – 60 minutes to show off your critical thinking / problem solving skills and your quantitative abilities. The case interview is really the time to impress the interviewer and show that you are a high quality candidate that deserves to be at these firms.

The PwC and Strategy& case interviews are intellectually rigorous and require the interviewee to really lead the interview and push forward the solution. This article will share with you how to crush these cases and share more about the core skills PwC is looking for, and what to expect in these interviews, and how the PwC and Strategy& case interviews differ.

PwC Case Interview

Keys to the PwC Case Study Interview

In order to crush the PwC & Strategy& case study interview, it is important to take a step back and think through the keys to these interviews. Specifically, keys to cracking the interview include:

  1. Lead The Case Interview

Driving the direction of the interview / being “in control” of where the case is going: PwC & Strategy&’s case studies reflect the style of BCG’s case interviews. Specifically, in the PwC / Strategy& case interview, it will be your job to lead the direction of the case based on the information you have been given from the interviewer and the insights you have gleaned throughout the case. For example, after finishing a section of the case, a rockstar interviewee will summarize the key takeaways and then say a hypothesis of where they would like to look next to solve the problem.

  1. Second Level Insights

Delivering second level and creative insights: In order to be a good consultant, it is critical to continue to push the problem forward and have a unique point of view. A unique point of view is especially important as the team tries to determine creative solutions to solve the client’s problems. It is a common saying that Fortune 500 companies don’t pay consultants millions of dollars to tell them something they already know!

  1. Keep The Main Thing, The Main Thing

Tying insights gleaned throughout the case to the basic problem statement: Being a consultant is a hard job. You only have a certain amount of time to drive to a specific answer. As such, as a consultant, you cannot simply go out and explore a million different areas of interest. You need to be focused on the main problem. As such, when you are doing your case interview, it is important to stay on topic and make sure you keep going back to the main problem you are trying to solve.

  1. Pressure Test

Using real world judgment to pressure test the answer: As you go through the case, it is always important to think about what the answer is telling you. For example, if you are doing a market sizing case and your answer comes out to something implausible (e.g., a company making 10 trillion dollars a year in revenue), it always helpful to fact check the answer and pressure test it. If you get the answer wrong, you are able to come back from it. However, it is harder to come back from saying and sticking to an implausible answer that doesn’t make logical sense.

  1. Lead With The Answer

Communicating clearly using the pyramid principle: Even if you have the best ideas, it will be hard to get them across if you do not communicate effectively. Generally, consulting firms appreciate it when consultants are top-down in their communication and use the pyramid principle. The pyramid principle refers to when you start with the answer and then provide the supporting points. Using the pyramid principle is a clear way to show that you can communicate effectively and can be trusted in front of a client. To read more about the pyramid principle, see Management Consulted’s overview here.

  1. Be MECE

Being mutually exclusive and completely exhaustive (“MECE”): As you develop your case interview framework, it is important to be MECE. Specifically, you want to make sure that each element and “arm” of your framework to be different and cover the entirety of what can be causing the problem statement. Being MECE is key as when you work in consulting as an engagement manager, you will need to determine what workstreams you want to run to tackle the case and solve the problem statement. By being MECE when you develop your case framework, it shows that you can tackle a problem logically down into its discrete parts.

  1. Structure Is Key

Being structured in your communications and work: When you are in the interview, it is imperative that the interviewer can follow along with you. This means following where you are going in the case, following as you do the math etc. As such, it is important to always be structured as you complete the case. Being structured can mean:

    • Having a clear and easy to follow framework
    • Laying out your math clearly and in a step by step manner so you can go back and retrace your work, as needed
    • Delineating any supporting points of evidence you say (e.g., there are three reasons I believe x; first …, second …, and third …)

Core Skills PwC and Strategy& Are Looking For

Generally speaking, PwC and Strategy& are looking for the same core skills that other consulting firms are looking for. Skills these firms are looking for include:

Problem Solving Skills

In order to be a good consultant, you will need to quickly be able to dissect a problem statement and break down the problem into logical parts (or issue drivers). From there, you need to be able to analyze the information you are given and draw logical conclusions. The case interview is meant to simulate a real world consulting case. As such, you need to be able to:

    • Develop a clear and concise MECE framework which covers the main elements to solve the problem statement
    • Assess any data and graphs they show during the case with complete ease
    • Tackle all parts of the case (data analysis, math questions) in a logical way
    • Uncover second level insights from the data (more on this below)

Communication Skills and Executive Presence

As a consultant, you will oftentimes be put in front of very senior level clients and be expected to speak with gravitas and possess executive presence. You can quickly lose the respect and confidence of clients if you speak to them in a way that is not easy to follow. The case interview is a great way to show your top notch communication skills. Communication and executive presence skills PwC and Strategy& are looking for include:

    • Ability to use the Pyramid Principle to communicate your ideas in a top-down manner
    • Ability to pace yourself and speak in a methodical manner; even though you may be nervous, it is important not to rush through your answers or else the interviewer won’t be able to fully understand you (or appreciate your great ideas)
    • Lack of upspeak (i.e., not having your voice go up at the end of sentences)
    • Making eye contact
    • Sitting straight
    • Dressing in appropriate clothes (e.g., business casual)
    • Not appearing flustered

Ability to Uncover Second Level Insights and Be Creative

Again, Fortune 500 companies are not paying consulting firms millions of dollars to tell them something they already know. Instead, they want to hear ideas that push the envelope, reflect industry best practices, or are something they haven’t heard before. The consulting case interview is a way to simulate whether you can bring great ideas to the table. If your conclusions from the case interview simply reflect the most “basic” insights and nothing creative, you will not ace the interviewer. Instead, you really want to dig deeper into what the data shows you and dig to a deeper insight. A deeper insight generally not only states “the facts” but also shows the implications and the “so what’ of the insights.

Examples of second level analysis include:

If you see the client is losing market share in a specific segment:

    • Explain what is happening (client is losing market share)
    • Explain hypotheses on why it may be losing market share (e.g., client’s product portfolio does not resonate with consumers)
    • Explain things you can look into to improve client’s financial position (e.g., acquiring companies that better align with consumers’ buying habits; moving into a newer, fast growing market to improve financial performance; cost cut to account for changing market dynamics; launch new products)
    • State the implications for the case
    • Discuss where you want to look to next to address the problem statement

If you see the client is less profitable than its peers:

    • Explain what cost component is driving the client’s worsening performance
    • Identify whether the cost component is fixed or variable
    • Specify if the problem is fixed, eventually the relative profitability will improve as the client scales
    • Offer up ideas on how to improve profitability (e.g., outsourcing, automation, changing materials, partnerships, reconfiguring distribution)
    • State the implications for the case
    • Discuss where you want to look to next to address the problem statement

Quantitative Skills

Consulting is a quantitatively rigorous job. Ultimately, every decision you make needs to be backed by facts and numbers. While you do not need to get every math question 100% correct to move onto the next round, it is important to show that you are quantitatively-oriented and will be okay handling numbers in the day-to-day

Common Sense

Again, you are not expected to get everything 100% perfect; however, you are expected to have all of your answers make logical sense. It is important for all of your answers to make logical sense as consulting firms are trusting you to go in front of very smart, senior clients. It reflects poorly on the consulting firm if an analyst or associate is saying an answer that is nonsensical in nature. Ways to make sure you are only stating logical answers include:

    • Taking a second and thinking of the magnitude of your answer.
    • Doing a quick cross check of your answer e.g., if I am saying the client can improve its revenue by $10B but only makes $1B in revenue today, that may be not plausible.
    • If you previously stated something that seems illogical; tell your interview that you would like to look into it and explain why you want to do so.

The Difference Between PwC and Strategy& Cases

Generally speaking, the PwC and Strategy& cases are relatively similar. If you are able to crack a PwC case, you can also crack a Strategy& case and vice-a-versa. This is because the skills you need to crack each case are similar.

However, the focus of a PwC and Strategy& case differs. Specifically, the PwC cases tend to be more operations focused whereas Strategy& cases tend to be more focused on strategic / big picture problems. The difference in the case focus areas reflect the differences in PwC and Strategy&’s mandates. Specifically, PwC advises on more operational / implementation problems whereas Strategy& (as its name suggests) advises on high-level strategy questions.

What To Expect In A PwC Case Interview

Even with a good sense of how to crack the case, you may be thinking what to expect in the PwC / Strategy& case interview. Well, the good news is that the PwC / Strategy& case interview is pretty similar to case interviews you may receive at other peer firms. Generally, the case interviews most closely resemble cases you may get at BCG or Bain in that the cases are interviewee (not interviewer) driven.

The cases will also generally include a quantitative component and may include a market sizing question. If you are interviewing at PwC, the problem statement encompassed in the case may be more operational in nature. On the flip side, if you are interviewing at Strategy&, the problem statement may be more strategic / big sky in nature.

PwC / Strategy& Case Interview Timeline

The PwC / Strategy& case interview timeline generally mirrors the interview timeline at other large consulting firms. Specifically, you will generally have first round interviews with more junior level members of the firm. In these interviews, you can usually anticipate a mix of fit and case interviews. After the first round, you may receive feedback on your performance and (fingers crossed) be moved into the second / final round. In the final round, you will generally have a super day when you do 3+ interviews with more senior members of the firm. The case interview timeline generally moves quickly and follows the on campus recruiting timelines.

PwC / Strategy& Case Interview Framework

You may be thinking to yourself – what is a PwC / Strategy& case interview framework to hit the interview out of the park. Well, unfortunately, there is not a one size fits all model for the PwC / Strategy& case interview. Instead, similar to other consulting firms, it is important to tailor your case interview framework to the case at hand. Generally, it is helpful to take a first principles problem solving approach when developing the case interview framework. Specifically, you can think about what are the discrete components that  you would need to understand to break down a larger problem statement. For example, if it is a profitability case, you can think about breaking down the problem into revenue versus cost. To read Management Consulted’s ultimate guide for case interview frameworks, please click here.

PwC / Strategy& Case Interview Questions

The PwC / Strategy& case interview questions can really encompass anything in the business world, so it is important to understand the principles of casing versus merely preparing how to crack specific case questions / prompt. That being said, example PwC / Strategy& case interview questions include:

    • Our client is a consumer packaged goods company (“CPG”). Recently, its profitability has declined. The company has optimized its cost structure but still is experiencing declining profitability. The client has engaged Strategy& for support.
    • Our client is a CPG company that wants to invest in a newer snack bars company. The client wants to know whether they should invest in the snack bars company.
    • Our client is a home garden chemical manufacturer that has a B2B2C business model. Specifically, it sells its products to companies like Home Depot and Lowes. It is debating switching its business model to that of a D2C company. Specifically, it wants to sell its products directly to consumers. Should it pursue this strategy?

PwC / Strategy& Case Interview Behavioral / Fit Questions

While it is important to crack the case, the importance of nailing the behavioral / fit questions should not be overlooked. The behavioral / fit interview portion of the interview is important and in some ways is the part of the interview you have the most control over. Common PwC / Strategy& behavioral / fit interview questions include:

    • Why do you want to work at PwC / Strategy&?
    • Why do you want to work in consulting?
    • Tell us about yourself
    • Tell us about a time when you were a leader
    • Tell us about a time where you dealt with adversity

For a complete guide to fit interviews, please see Management Consulted’s guide here.

PwC Case Interview Preparation

Given the difficulty of the PwC / Strategy& case interview, it is important to leave adequate time to prep for the interview. However, the good news is that the PwC / Strategy& case interviews are very similar to case interviews at other consulting firms, so your general prep on case interviews should serve you well. To prep for the interviews, it is important to:

  • Spend time casing with friends (and case some more)
  • Prepare 15+ fit stories that you can use in the interviews
  • Learn more about the firms through 1:1 chats with current employees

PwC / Strategy& Case Study Interview Example

An example PwC / Strategy& case study can be found on Strategy&’s website here. To get a complete case study interview bank, look at Management Consulted’s website here which includes links to free case books.

PwC / Strategy& Case Interview Practice

Again, the best way to practice for the PwC / Strategy& case interviews is to practice live cases. Reading about casing is not enough. It is important to truly practice these interviews live and try to formulate your thoughts aloud. Similarly, it is important to find the right people to prep with and case you. You ideally want someone with consulting experience who can give you accurate feedback on your performance (not someone who will just say everything is great). If you are looking to be prepared by an ex-MBB consultant, please see Management Consulted’s offerings here.

As you prep, additional helpful resources include:

PwC Interview Variations

While the case interview format for PwC is relatively standard, there are some case interview variations. These variations reflect the topic of the case interviews. The rationale for the differences between the cases reflects the difference in the type of work across PwC subsidiaries. For example, at Strategy& you will be doing more strategy type projects whereas in the PwC Financial Due Diligence (“FDD”) team, you will be working on transactions (e.g., M&A, divestitures).

Strategy& Case Interview

As mentioned previously, the Strategy& case interview is similar to other PwC case interviews. The biggest difference is that the Strategy& case interview focuses on a strategic problem statement versus a potentially more operationally focused problem statement. This represents Strategy&’s line of work and potential projects.

PwC Advisory Case Interview

PwC’s advisory group generally works with government clients. The advisory group’s work includes deals and traditional consulting services. Generally, the PwC advisory case interview focuses on problem statements for government clients. As you think through the potential answers in your case, you should always have the lens around how the answers would be applicable for government clients versus for large fortune 500 companies.

PwC and Strategy& Video Interview

In the early rounds of the interviews, there may be a PwC / Strategy& video interview. These video interviews are generally fit interviews (rather than case interviews). Generally, you will be given a specific prompt and be requested to respond to the questions on video. For these interviews, it is critical to work out your tech set up before starting the interview. To read more about the PwC and Strategy& video interviews, please see here.

PwC Financial Due Diligence (“FDD”) Case Interview

The PwC FDD practice, as the name suggests, focuses on deals and providing support ahead of potential transactions (e.g., mergers, acquisitions, etc.). As such, the subject of a FDD case study can be around an investment or merger opportunity to reflect the work you would do in the FDD group.

PwC Technology Consulting Case Interview

As the name may suggest, PwC’s technology consulting group focuses on tech strategy and implementation. As such, technology will generally be the focus of the case. For example, you may be asked case questions around migrating to the cloud or how you would choose between different technology vendors.

Conclusion

Therefore, a PwC / Strategy& case will be a relatively complex case. Unlike McKinsey cases, the PwC / Strategy& case is interviewee-led, so you will be in charge of pushing the case forward. The PwC case may be more operational in nature whereas the Strategy& case may be more strategic in nature.

In order to ace the PwC / Strategy& case and impress your interviewer, you will need to show your amazing problem solving skills, communicate clearly in a top-down way, and show creativity. You will also want to show you have common sense by not saying any illogical answers.

Outside of the case interview, you should expect general behavioral / fit questions like why consulting, why PwC / Strategy&, tell me about a time you were a leader, etc. If you are looking to prep for a PwC / Strategy& interview with an ex-MBB consultant, click here.

 

Additional Resources:

 

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Filed Under: Case Interview, consulting interviews, PwC