Case Interview Prep Turnaround & Restructuring Department

Question

Hello everybody, I very recently attended a career fair where I was proactively asked to apply for an internship position within the field of Turnaround & Restructuring Strategy at a Strategy Consulting arm of a Big4.

Since I was asked to send the employee directly to a Senior Partner, the application process ended up being accelerated and I more or less immediately got an interview appointment (less than 7 days). As this was very unexpected I haven't done any preparation yet.

Since my preparation time is very limited and I barely have any background knowledge when it comes to turnaround & restructuring I still need to prepare for rather formal questions about the topic. With prep time for cases being very limited, I wanted to ask whether anyone has any tips or ideas on what I should put my focus on.

Best Regards & Thanks in Advance

Answer 1

I have worked for AlixPartners, which is the most known company in Turnaround and Restructuring.
If you want to prepare for interviews, just schedule a slot with me.
The key point to understand is the insolvency law in your country. You have to have the basic terminology and intelligence.
It is also important to understand that usually Big4 mostly work on restructuring cases and not on turnaround ones. That means that you have to be prepared for a lot of excel and debt restructuring term sheet discussions with banks and lawyers, while firms such as AlixPartners work on both turnaround and restructuring, but more on the business side.
Ask for examples of cases they have done, it is something usually appreciated.

Answer 2

Hi there,

To be fair, your best bet is to ask for an extension. Claim personal / health reasons and buy yourself a couple more weeks.

In the meantime, practice as much as possible. Aim ideally for cases which pertain for the industry. Work individually and with case partners. If you are willing to make the investment, work with coaches to accelerate the trajectory.

Answer 3

Hi there,

Good on you for being proactive but also a valuable lesson learnt - be prepared for someone taking you up on it…

If the opportunity means something to you, invest some money and get a great coach! I don't see another way, because professional coaching is ultimately a huge time saver and you simply don't have time.

Alternatively, ask for the meeting to be rescheduled. This happens quite a lot and shouldn't be a huge problem. But don't tell them you're unprepared - that would seem a little odd considering your proactiveness up until this point. Maybe you conveniently get COVID or something…

Best of luck!

Answer 4

Hello!

My tip is clear: ask for more time. You only get one chance, and this interviews require prep.

Talk kindly to HR, explain how important this is for you and hence how prepared you want to be, and they will understand. There is nothing to loose.

Hope it helps!

Cheers,

Clara

Answer 5

Hi there,

To be perfectly frank, you need to get a coach.

I have seen candidates get ready with a coach in a week (still tough, but do-able).

It is rare the individual who is able to get properly ramped up, on their own, in just a week…there's just so much to learn….and that's without you having no domain expertise!

If you can, I would also at least try to get the interview delayed.

Now, if you're really going the no coach route and interviewing in 7 days, you need to: case, case, case. Get reps in and read up on the topic (through the company website)

Good luck!

Answer 6

Would like to add that you can check out prep resources on the Roland Berger website. They have some very good practice cases.

Answer 7

Hey, if you are interested I have recently launched a customised package to prep for BIG4 and currently 3 candidates are using it. Please have a look- https://www.preplounge.com/en/profile.php?id=334455#coaching-package