Half the OC&C candidates I debrief still prep for a 45-minute GMAT and a generic PEI. That funnel is folklore for London Strategy 2027–28. The real filter is whether you can run a commercial diligence case the way a PE-facing boutique scores it: pick the two or three numbers that make or kill the deal, defend them when a partner pushes, and recommend.
OC&C is not MBB with a smaller logo. Its live work clusters around retail, consumer goods, leisure, TMT, B2B services, and private equity commercial diligence. After this page you should be able to map the current office funnel from primary sources, score a case the way an interviewer does, and run one full PE-style case under a clock.
What the firm actually sells
OC&C describes itself as a focused strategy shop founded in 1987, not a generalist implementation network. Its about page stresses a handful of specialisms and "uncommon sense" over boilerplate frameworks. The London Associate Consultant vacancy is blunt about the work: where to play and how to win in Retail, Leisure & Hospitality, Consumer Goods, Technology & Media, B2B Products & Services, and Private Equity, typically in small teams of about five to seven.
That mix shows up in the interview. If your rehearsal library is mostly cost-cutting ops cases and McKinsey-style interviewer-led prompts, you are drilling the wrong muscle. OC&C's Private Equity & M&A practice lists investment scans, buy-side commercial due diligence, synergy work, value-creation plans, and exit/sell-side diligence as core offerings. Firm deal notes routinely claim commercial advice on more than 500 successful transactions over five years; one example is the Apollo–Prosol commercial and operations diligence mandate.
When I score a boutique commercial case, I am listening for the same instincts those engagements require: market attractiveness, right to win, unit economics, and a clean investment recommendation. Framework theater scores poorly.
The funnel, by office, as of late 2026
Office processes differ. Prep from the vacancy for the office you applied to, not from a composite blog table.
| Stage | London Strategy (AC 2027–28) | US AC (Boston / New York) |
|---|---|---|
| CV | Anonymised CV; no cover letter | CV and cover letter via the US portal |
| Online | Blended assessment: numerical, critical reasoning, behavioural/motivational | Recent cycles have added a short numerical/logical screen; confirm on the live vacancy |
| Video | Short one-way video after the blended screen | Not in the durable brochure process |
| Round 1 | 2 x 30-minute virtual case interviews (Consultants & Managers) | 2 x 30-minute case interviews (Consultants & Managers) |
| Round 2 | 2 x 45-minute in-person cases (Associate Partners & Partners) | 2 x 30-minute cases with Associate Partners & Partners (brochure); some cycles list 45 minutes |
| Screen timing | Rolling review | US site: decisions after the closing date, feedback within about three weeks |
Sources: London Strategy vacancy, US application guidance, and the 2024 graduate brochure (as of 2026-09-24). London starting pay on the Strategy posting is £54,000 plus a £7,000 signing bonus and annual performance bonus. London deadline on that page is 23:59 on 1 November 2026. US Associate Consultant windows typically open mid-August and close end of September; exact dates move every cycle.
Older prep posts still describe a 45-minute three-part GMAT with no calculator as the universal gate. That may have been true in some past years or offices. For London Strategy 2027–28, OC&C's own page describes a blended assessment plus a one-way video. Treat third-party timing claims as folklore unless your invitation restates them.
Continental offices differ again. The same brochure shows Rotterdam with a written case and a longer partner round, Milan and Germany with cover letters and two 45-minute case rounds, and Paris with 60-minute rounds. Use the live vacancy when it conflicts with the brochure.
How to prep the London blended screen
You do not need a GMAT course. You need timed numerical accuracy, short critical-reasoning passages, and crisp answers to behavioural prompts on video.
For the numerical half, drill percentages, ratios, and table reads without a calculator until a 12% of 850 or a two-step growth problem takes under 20 seconds. For critical reasoning, answer only what the passage licenses; outside knowledge is how candidates invent True answers that should be Cannot Say. For the one-way video, prepare two commercial stories (a decision you owned, a time you changed your mind with data) and one "why OC&C" that names retail, consumer, or PE diligence rather than "strategy consulting in general."
What the interviewer is scoring
In a typical first-round slate of eight, I usually pass two or three on commercial judgment even when the math is tidy. Structure alone does not clear the bar. Here is the heuristic I use when I sit the other side of a commercial boutique case:
| Dimension | Weight (Ned's estimate) | Pass signal | Fail signal |
|---|---|---|---|
| Decision clarity | 20% | Names the exact yes/no and the metric | Restates the prompt as a topic |
| Prioritisation | 25% | Drives the branch that kills the deal first | Tours every bucket equally |
| Quant hygiene | 20% | Clean steps, stated assumptions, sanity check | Silent arithmetic or invented precision |
| Commercial insight | 20% | Links numbers to competitive dynamics | Generic "market is attractive" |
| Recommendation | 15% | Answer first, 2–3 reasons, one risk, next step | Recap of the analysis |
OC&C cases are candidate-led in the sense that you own the structure and which analyses to run. Interviewers still interrupt. Treat every "why?" as a request for the logic behind the next branch, not as a signal you are wrong.
Ned's rule. In an OC&C-style commercial case, spend the first two minutes naming the decision and the two numbers that would flip your recommendation. If you cannot name those numbers, you do not yet have a case; you have a tour.
A worked PE-style case: HarborGlow candles
Prompt (invented): A mid-market PE fund is considering acquiring HarborGlow, a UK specialty candle brand with £48m revenue. Should they buy at 9x EBITDA?
Clarify and decide
Decision: buy / pass at 9x. Success metric: can HarborGlow sustain mid-teens EBITDA margin and grow revenue at least 8% a year for five years without destroying brand pricing.
Flip numbers I want early: (1) true underlying growth vs promo-driven volume, (2) contribution margin after retail terms, (3) competitive response if a discounter copies the scent line.
Prioritise
I would not open with a full market-size tree. I would ask for revenue mix (retail vs DTC), EBITDA, and category growth. Suppose the interviewer gives: 70% retail / 30% DTC; EBITDA £6.0m (12.5% margin); UK specialty candle category growing 4% a year; HarborGlow growing 11% last year, of which 5 points came from temporary retailer promotions.
Math you can reproduce
Enterprise value at 9x EBITDA: 9 x £6.0m = £54m.
If promo-fuelled growth fades and organic growth falls to category plus 2 points (6%), five-year revenue at constant mix:
Year 0: £48.0m
Year 5 at 6% CAGR: 48 x (1.06)^5 ≈ 48 x 1.338 = £64.2m
If margin stays 12.5%, Year-5 EBITDA ≈ 0.125 x 64.2 ≈ £8.0m. At a constant 9x exit, equity story is thin once you pay entry and layer fees. If instead DTC mix rises to 45% and contribution improves margin to 16%, Year-5 EBITDA ≈ 0.16 x 64.2 ≈ £10.3m, which is a more credible value-creation path.
Sanity check: a 3.8-point margin lift needs either better channel mix or lower COGS/terms. That is the diligence question, not "candles are growing."
Recommendation
Pass at 9x unless diligence proves the promo layer is replaceable by durable DTC mix or pricing power. Reasons: current growth is partly manufactured; category is only mid-single digit; margin at 12.5% leaves little room under a 9x entry. Key risk: brand heat fades and retailers demand deeper promotions. Next step: customer and retailer interviews on willingness to pay without discounting, plus a channel P&L rebuild.
That is the shape partners reward: decision, flip numbers, prioritised analysis, recommendation with risk.
Round one vs round two
Round one (two 30-minute virtual cases) is a speed and clarity filter. You have little time to wander. Open with the decision, state a hypothesis, and drive one high-leverage branch.
Round two (two 45-minute cases with Associate Partners and Partners) adds ambiguity and pushback. Partners are deciding whether they want you on a diligence team next month. Expect messier prompts, missing data, and pressure on commercial judgment. The format is still case-first; treat "fit" answers as short evidence of ownership and curiosity, not a second McKinsey PEI.
Drill this today
Do one full candidate-led commercial case out loud with no calculator. Use a retail, consumer, leisure, or PE-diligence prompt. Force yourself to name the decision and two flip numbers in the first two minutes, then finish with a top-down recommendation.
Then run a scored rep on CoachNed: start with a five-minute typed case at /start, or the full voice case at /interview. Drill structure and math alone at /drills/structure and /drills/math. Everything is open for seven days, no card; then $120 for a recruiting season or $49 a month.
Frequently asked questions
Does OC&C still use a 45-minute GMAT-style online test?
Not according to the London Strategy Associate Consultant 2027–28 vacancy, which describes an online blended assessment (numerical, critical reasoning, behavioural/motivational) plus a one-way video. US cycles have varied; follow the invitation and the live US vacancy when it is open.
Is the OC&C case interview candidate-led or interviewer-led?
You lead structure and analysis; interviewers probe hard. Prep like a Bain/BCG candidate-led case, but rehearse defending every branch under interruption.
Do I need a cover letter for OC&C?
London Strategy AC 2027–28: no cover letter, anonymised CV. US Associate Consultant: yes; the US application page expects a CV and cover letter through the portal. Other European offices often still ask for a letter; check that office's page.
What case industries should I practise for OC&C?
Prioritise retail, consumer goods, leisure/hospitality, TMT, B2B services, and PE commercial diligence. Ops-heavy cost cases are secondary.
How much does OC&C pay new Associate Consultants in London?
As of the London Strategy 2027–28 posting: £54,000 base, £7,000 signing bonus, plus an annual performance bonus. Confirm on the live vacancy; pay moves. CoachNed is not affiliated with OC&C Strategy Consultants.
Sources
- Who We Are | OC&C Strategy Consultants — firm positioning and specialism focus. Checked 2026-09-24.
- Associate Consultant 2027-28 - Strategy (London Office) — London funnel, pay, team size, sectors. Checked 2026-09-24.
- Your Application | OC&C USA — US CV criteria, cover letter, windows, feedback timing. Checked 2026-09-24.
- Private Equity & M&A | OC&C — diligence service lines and deal scope. Checked 2026-09-24.
- OC&C advises Apollo Funds on Prosol Group — example CDD mandate and 500-transaction claim language. Checked 2026-09-24.
- Global Graduate Recruitment Brochure 2024 (PDF) — office-by-office process variants including US rounds. Checked 2026-09-24.