It’s no secret that part of your private equity job interview will likely include a detailed case study to analyze and write a brief report on. How you approach that case study (and not only your answer), reveals a great many insights about your character and how you solve problems.
So says Marc Cosentino, author of Case in Point and CEO of CaseQuestions.com Cosentino consults with both top business schools and companies in helping them design these case study questions, reports SouthCoastToday.
For example, in a typical case study interview, you are given a business problem and asked to solve it, often with very limited information. There is often no correct answer; the interviewer is really looking to see how you approach the problem, what questions you ask, and how well you articulate your thoughts under pressure.
Cosentino suggests that you should first summarize the case to make sure you’re not missing any hidden objectives. This summarizing also gives you 15-30 seconds to think about the case, without an awkward silence between you and the interviewer.
Successful candidates often write a “final slide” listing the objectives. This shows the interviewer that you are well organized and planning ahead. Another tactic: asking questions. Most case studies are purposely designed with limited initial information. The interviewer is looking at what questions you ask upfront, rather than have you simply jump in and try to solve the problem. And interviewers will often not disclose information unless you ask for it.
While most case studies will involve some math, not every interviewer will allow you to use a calculator. Sometimes an interviewer will ask you to estimate using round numbers and calculate on paper or in your head. In many cases, this is a test of whether you think before you speak. In other words, will you look at your final numbers and determine whether they make sense, before presenting them?
Some other tricks: often an interviewer will challenge the job candidate by suggesting they are wrong, or make disparaging comments about the results. They may even invite in some of their competitors into the room and ask you to work together on a problem, to see how well you work, support, and articulate other peoples’ ideas under pressure.
“All this is to see how you’ll react. They want to know can you handle it when someone comes back in your face,” Cosentino said. “It is as much about the communication as it is about the logic. You can be as charismatic as JFK, but if you fumble the case they can’t help you.”
How about you? What’s the most challenging or unusual case study challenge you ever faced in an interview? Add your comments below.
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