FTI Consulting Interview: The Only Post You Need to Read
FTI Consulting interviews consist of case interviews and behavioral or fit interviews. According to FTI Consulting’s interview website, there are two rounds of interviews that you’ll need to pass in order to receive a consulting job offer.
- First round: One interview that will last between 30 and 60 minutes. The interview will be focused on behavioral or fit interview questions.
- Second round: Three to six back-to-back interviews. These interviews will be more focused on case interviews, also known as case study interviews, but there will still be behavioral or fit interview questions. Second round interviews usually also include a networking lunch or dinner.
FTI interviews are an opportunity for you to learn more about what FTI Consulting does and how the firm tackles challenges and opportunities across industries. For FTI, the interview is an opportunity for them to get to know your career goals, your skillset, and your passions.
If you have an upcoming interview with FTI Consulting, we have you covered. In this article, we’ll teach you how to prepare for your interview and how to answer each type of interview question. We’ll cover:
- The 4 steps to solve any FTI Consulting case interview
- FTI Consulting case interview examples
- The 10 most common FTI behavioral/fit interview questions
The 4 Steps to Solve Any FTI Consulting Case Interview
A case interview, also known as a case study interview, is a special type of interview that nearly every single consulting firm uses. FTI Consulting case interviews simulate what the consulting job will be like by placing you in a hypothetical business situation in which you are asked to solve a business problem.
You will need to ace every single case interview in order to land a FTI Consulting job offer.
FTI Consulting case study interviews are candidate-led. You will be in the driver’s seat of the case interview and will be expected to ask the right questions, perform the right analyses, and steer the overall direction of the case.
Follow these four steps to solve any FTI Consulting case interview:
1. Understand the case
The case will begin with the interviewer giving you the case information. While the interviewer is speaking, make sure that you are taking meticulous notes on the most important pieces of information. Focus on understanding the context of the situation, the company, and the objective of the case.
Don’t be afraid to ask clarifying questions if you do not catch something. If you are not familiar with the industry, it is completely acceptable to ask how it works. Sometimes, repeating the information back to the interviewer is helpful to confirm your understanding of the case.
Finally, make sure to verify the objective of the case. Not addressing the right business question is the quickest way to fail a case interview.
2. Structure the problem
Develop a framework to help you tackle the business problem. A framework is a tool that helps you structure and break down complex problems into smaller, more manageable components. With a framework, you’ll be brainstorming different ideas and organizing them into different categories.
It is completely acceptable to ask the interviewer for a moment of silence so that you can collect your thoughts and think about the problem.
Once you have identified the major issues or areas that you need to explore, walk the interviewer through your framework. They may ask a few questions or provide some feedback to you.
To learn exactly how to create unique and tailored frameworks for each case situation that you get, read out comprehensive guide to case interview frameworks.
3. Solve the problem
Once you have developed a framework, you can begin to solve the problem. To solve the case, you’ll likely need to answer a mix of quantitative and qualitative questions.
When solving quantitative problems, make sure to walk the interviewer through your approach before doing any math. Check if the interviewer has any further information for you before making your own assumptions. Finally, neatly label your calculations and write out all numbers so that the interviewer knows exactly what you are doing.
When answering qualitative questions, try to structure your answer in a logical way to make it easier to brainstorm or communicate your point of view.
For both quantitative and qualitative questions, make sure to go beyond just answering the question. Think about how your answer impacts the answer to the case. Always try to tie the implications of your answers to the case objective. This will help you develop a hypothesis for what a potential recommendation could be.
4. Make a recommendation
In the last step of the case interview, you’ll present your recommendation and provide the major reasons that support it. You do not need to recap everything that you have done in the case, so focus on summarizing only the facts that are most important.
It is also good practice to include potential next steps that you would take if you had more time or data. These can be areas of your framework that you did not have time to explore or lingering questions that you do not have great answers for.
FTI Consulting Case Interview Examples
Example #1: Rice Cakes
Quaker is a large food manufacturer based in the United States. They produce breakfast cereals and other food and drink products. In the United States, Quaker is the market leader in rice cakes.
The CEO is looking to increase the profitability of their rice cake product line and is trying to decide whether to raise or lower the price of their rice cake products. What should Quaker do?
Example #2: Space Satellite
Your client is SpaceX, a private American aerospace manufacturer and space transportation company. Your client currently owns a satellite that they acquired from a global telecommunications company a few years ago.
A large IT company is offering SpaceX $20 million to purchase the satellite. Should your client accept this offer?
Example #3: Hardware Stores
ACE Hardware is a hardware retailer chain that does over $5 billion in annual sales and has over 5,000 stores. The Home Depot is a retail chain that sells home improvement and construction products. Home Depot recently moved towards selling more hardware products, overlapping more with the types of products that ACE Hardware sells.
The CEO of ACE Hardware has hired you to help determine what kind of threat Home Depot poses to ACE Hardware and how ACE Hardware should respond.
Example #4: Law Firm Salary
Your client is a prominent law firm based in New York City. They have over 3,000 attorneys in 30 offices worldwide, making it one of the largest law firms in the world.
Your client is well known for their high attorney compensation. They hire attorneys that have just graduated from law school and pay them a $190,000 base salary, which does not include performance bonuses. Does paying this high of a compensation make sense?
Example #5: Computer Chip Price Fixing
A group of computer chip manufacturers are believed to have been abusing their power as market leaders in Europe by keeping prices of their computer chips high. This group of manufacturers has recently been sued by their major customers.
The European Commission has recently ruled that these computer chip manufacturers have been abusing their dominant market position and need to pay their customers for damages associated with overpaying for product. How would you quantify how much these computer chip manufacturers should be forced to pay?
Example #6: Aluminum Mining and Production
Our client is a global leader in aluminum mining and production. Although their unit costs are competitive, our client has seen declining profit margins each year for the past five years. If this continues, they anticipate that they will have cash flow issues and will be unable to make payments to their suppliers. What would you advise our client to do in order to turn around the business?
The 10 Most Common FTI Behavioral Interview Questions
In addition to case interviews, you will likely be asked a few behavioral or fit interview questions. There are ten questions that you should be prepared to answer.
1. Why FTI Consulting?
How to answer: Have at least three reasons why you’re interested in working at FTI Consulting. You could mention that you loved the people that you have met from the company so far. You can talk about FTI’s expertise in corporate finance and restructuring, economic consulting, and forensic and litigation consulting. Finally, you can mention their meritocratic work culture and emphasis on mentorship and professional growth.
2. Why consulting?
How to answer: Again, have three reasons why you’re interested in consulting. You could mention the fast career growth opportunity, the opportunity to develop soft and hard skills, or the level of impact that you can make by working with large companies on their most challenging issues.
3. Walk me through your resume
How to answer: Provide a concise summary of your work experience, starting with the most recent. Focus on emphasizing your most impressive and unique accomplishments. At the end, tie your experiences to why you are interested in consulting and why you would be a great fit for FTI Consulting.
4. What accomplishment are you most proud of?
How to answer: Choose your most impressive, unique, or memorable accomplishment. Structure your answer by providing information on the situation, the task, the actions you took, and the results of your work. Explain why the accomplishment is so meaningful to you and what qualities that reveals about you as a person.
5. Tell me about something that is not on your resume
How to answer: This is a great opportunity to highlight an accomplishment that is not related to your professional work experience. Perhaps there is a non-profit that you volunteer at, a side project or business that you work on, or a hobby that you have won awards or recognition for. Select an accomplishment that is impressive and interesting.
6. Tell me about a time when you had to lead a team.
How to answer: If possible, choose a time when you directly managed a person or a team. For this question and the following similar questions, make sure that you structure your answer. Provide information on the situation, the task, the actions you took, and the results of your work. This is known as the STAR method and is the most common way of answering behavioral or fit interview questions.
7. Describe a time when you faced conflict or disagreement.
How to answer: When answering this question, focus on emphasizing the steps you took to resolve the conflict or disagreement. Speak about the interpersonal skills you had to use in order to mediate the situation. Interviewers want to know that you can handle conflict in a constructive way.
8. Give an example of a time when you successfully persuaded someone.
How to answer: Choose a time when you were able to change someone’s mind who originally disagreed with you. Focus on emphasizing the steps that you took to persuade that person and what impact this had on the organization. Interviewers want to know that you are a great communicator and have strong people skills.
9. Tell me about a time when you failed.
How to answer: Choose a time when you failed to meet a deadline or did not meet expectations. You do not want to pick a failure that is too big or embarrassing. Focus on emphasizing what you learned from the experience and how you used that experience to deliver even better results in the next opportunity that you got. Interviewers want to see that you strive to learn from your past failures and are always working to get better.
10. Are there any questions that you have for me?
How to answer: This is a fantastic opportunity to get to know the interviewer on a more personal level. Ask them questions about their experience in consulting. Ask what their favorite case was or what they are looking to do next in their career. The more you can get the interviewer talking about themself, the more likely they will be to have a positive impression of you.
Land your Dream Consulting Job
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