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Interviewing Guide (Wharton Students & Alumni)
Career Services


SECTION 1 - Introduction
SECTION 2 - Overview: What to Expect During Interviews
SECTION 3 - How to Prepare
SECTION 4 - Types of Interview Questions
SECTION 5 - Frequently Asked Interview Questions
SECTION 6 - Tough Interview Questions
SECTION 7 - Actual Questions from On Campus Interviews
SECTION 8 - Questions to Ask Interviewers
SECTION 9 - Mock Interviews and Workshops
SECTION 10 - Special Cases: On-Site Interviews
SECTION 11 - Special Cases: Phone Interviews
SECTION 12 - Special Cases: Career Fairs

 

SECTION 1 - INTRODUCTION

An interview is a form of conversation -- it is a two-way process. As a job candidate, you want to let a potential employer know what knowledge, skills and abilities you have to offer. At the same time, you want to evaluate how well the organization and the people who work there match what you want out of a position. You may feel nervous or anxious while interviewing, because you are competing for a job and people are evaluating you. To make the best impression and to minimize your anxiety, the best thing to do is PREPARE ahead of time.

SECTION 2 - OVERVIEW: WHAT TO EXPECT DURING INTERVIEWS

An interview offers you and an employer the opportunity to learn whether or not there is a "fit" between you and the interviewer's organization. The ideal interview is a two-way street, allowing the employer to sell the job to you and permitting you to elaborate on the information contained in your resume.

The invitation to interview means that, in general, you are qualified for the job; however, the employer wants to determine if you are the best qualified candidate to serve the firm's interests. This determination is made strongly on the basis of your enthusiasm and honesty. The more interest, enthusiasm and motivation you display in an interview, the better your chances are for moving forward in the process. Regardless of industry, most employers are interested in the following:

  • Communication (written and verbal) Skills
  • Interpersonal and Teamwork Skills
  • Leadership Qualities/Potential
  • Business Acumen
  • Organizational Skills
  • Analytical and Problem-Solving Ability
  • Maturity
  • Poise

Depending upon the nature of the job and the firm, other competencies may be evaluated more rigorously. Expect quantitative and analytical questions in finance and consulting interviews. Be prepared to discuss case situations with consulting firms. Sales jobs will place even stronger emphasis on verbal communication skills, enthusiasm, and personality. Pay attention to the qualifications described in the job description, as these are attributes that are likely to be evaluated during the interview process.

How you present yourself is just as important as what you say. Nonverbal communication can give as much information, if not more, than words. Be conscious of slouching back in a chair (boredom?), twiddling your thumbs (nervousness?), and crossing your arms (hostility?). If you are asked a particularly tough question, maintain your composure and take extra time to think before replying. Be sure to maintain good eye contact, which conveys confidence and honesty.

Also, physical appearance plays a role in the outcome of the interview. A simple rule is to dress the same way you would expect to dress at work if you were offered the job. Men and women should wear a suit. Be sure to minimize jewelry and cologne/perfume. If you have long hair (men or women) that gets in your face, consider wearing it "up" or in a ponytail.

Very rarely does an interviewer make an offer during the first interview. It is likely that he/she will get back to you within a few weeks with an offer, a rejection, or an invitation to visit his/her organization to talk to other people. The second interview is usually an entire day in length. Probably you will interview with several different people in the department, all of whom participate in the hiring decision.

It is a good idea to keep a log of your interviews. You may need the name, title and address of your contact at a later date. If you are being interviewed in the On-Campus Recruiting Services, each schedule has the necessary information on it (be sure to jot this down before you leave the recruiting facility). You should write follow-up letters to the organizations in which you are particularly interested. Such letters involve thanking the employer for the interview and reconfirming your interest in the position offered.

SECTION 3 - HOW TO PREPARE

Preparation is vital. While you cannot anticipate every question, you can prepare yourself to make the most of whatever you are asked.

Know Yourself

First, it is important to know yourself and your career objectives. Employers are not interested in students with undefined career goals; they aim to fill jobs with qualified candidates who have some sense of direction and know how their skills support their job objectives. Even if you don't know exactly what you want to do, you have to be able to confidently tell an employer why you are interested in this particular job at this time. Think about your own abilities and experience in relation to an employer's needs. Be able to discuss why you want to work in this type of industry, division, and/or company. Identify your strengths in relation to each job for which you interview. Review your resume for experiences - whether they are related to education, work, or activities - that you can use as examples to support your skills. Anything on the resume is fair game, so also be prepared to describe or explain any item on it.

Know the Company

Second, know the company and the position. Spend time reviewing organization homepages, familiarizing yourself with each firm's divisions, mission statements, and the like. Read the organization's literature available at the Career Services Library. Talk to alumni currently working at the firm to get more detailed information about what it takes to be successful in this particular company. You are not expected to be an expert in the particular field, but you should have enough knowledge to formulate meaningful questions to present to the interviewer. You can usually get an overview of the organization, its products and/or services, its management philosophy and new developments, and its financial standing from its website or annual report. Also, the Lippincott and Van Pelt reference collections house a variety of trade journals and online resources which discuss current issues in the field.

Know What to Ask

Third, be certain to prepare questions to ask the interviewer. You want to evaluate the company and the opportunities provided by this position in order to determine whether or not you are even interested. In addition, the questions you ask convey interest and enthusiasm; if you fail to ask anything of the interviewer, s/he might assume you aren't particularly interested in the job or the organization.

Finally, interviewing is a skill that improves with practice. Counselors are available in Career Services by appointment for mock interviews. These practice sessions usually last 45-60 minutes and can be videotaped to provide maximum feedback. Be sure to practice answering interview questions aloud, rather than just thinking about what you will say. Get together with friends and take turns asking each other questions, then providing feedback on strategies for improving your answers (as well as your delivery).

SECTION 4 - TYPES OF INTERVIEW QUESTIONS

There are a number of different types of interview questions. Many are personality based: "What are your strongest skills? What do you do in your spare time? Why are you interested in market research?" A great many questions can come directly from the resume: "In which of these classes did you learn the most about finance? Tell me about your last internship. Give me an example of a time you had to deal with conflict in one of your student groups."

Behavioral Questions

More and more interviewers are asking behavioral questions, in which the employer asks you to recount a specific example of a past experience which s/he can use as a predictor for your future behavior. "Tell me about a time you demonstrated initiative. Give me an example of your leadership ability. Describe your most recent group effort and how you contributed to the team." In answering these questions, be certain to describe a SPECIFIC example (don't describe your leadership style in general, but rather recount a specific time you were in a leadership role). After setting the context, describe your role, contribution to, or influence on that situation. Finally, always provide a statement describing the outcome of your efforts (e.g., the grade you received, the percentage increase in sales volume due to your efforts, etc.) so they can evaluate your effectiveness.

A common way to approach answering behavioral questions is to use the STAR method:

  1. S = Situation: Describe what you were facing
  2. T = Target: Describe what you wanted to achieve
  3. A = Action: Describe what you did
  4. R = Results: Describe what happened, how things turned out, what you learned, and optionally what you'd do differently if presented the same circumstances

Brainteasers and Guesstimates

Some interviewers are famous for brain-teasers and analytical "guess-timates." For example, "How many blue cars are there in the United States?" The point is not to get the right answer (who knows what that is?) but instead to demonstrate sound logic and reasoning skills. Think aloud, explain to the interviewer how you would arrive at an estimate, then perform the basic math necessary to arrive at your estimate.

Case Questions

Finally, case questions focus on real business issues and problems. Most commonly used in consulting interviews, they test your analytical skills and business acumen. A case can be very broad (e.g., "What makes ABC Company so successful?) or extremely specific (e.g., a discussion of detailed financial statements) in nature. A number of extremely useful guides to finance, consulting, and other interviews are available in the Career Services library. You can also access Career Services' online Vault and WetFeet career guides.

During the interview, take your cues from the employer; however, do not offer more information than requested, particularly about your weak points. Be sure to listen carefully to the interviewer, and don't be afraid to ask for an explanation if you don't understand the question. It is fine to take a few moments to think before answering difficult questions, so don't rush into your answer until you are ready (silence during an interview is perfectly acceptable, even if it is slightly uncomfortable). If you are truly stumped or lacking for an example, it is better to say so ("I'm not sure - how did your company handle that particular situation?") than to try to fake your way through an answer.

SECTION 5 - FREQUENTLY ASKED INTERVIEW QUESTIONS

  • Why should I hire you?
  • Tell me about yourself?
  • Why did you decide to go to Penn?
  • Why did you choose your major?
  • How did you learn about our organization?
  • What do you know about our organization?
  • Where do you see yourself in five years?
  • What was the worst thing that happened to you on a summer job?
  • I see you received a very low grade in XXXX. Why?
  • What contributions could you make to our organization?
  • Why do you want to work?
  • What do you expect from a job with us?
  • What is your greatest asset? Liability?
  • If you were an interviewer, what do you think the three most important criteria would be for hiring someone for this position?
  • On what grounds would you dismiss someone?
  • Do you like working with people? Is this an important factor?
  • How would you handle an irate client if the complaint were against the organization's policy?
  • Why are you interested in this field of work?
  • Do you have any questions?
  • What was your best subject in school? Worst?
  • Why do you want to work for us?
  • Why did you take a leave of absence?
  • Would you consider relocating?
  • Could you travel three days a week?
  • How much do you think you will be earning in ten years?
  • Do you plan to go to graduate school?
  • You strike me as graduate school material. Why are you applying for jobs?
  • If we hired you, what is the top position you see yourself holding?
  • What is the lowest salary you would consider?
  • Is there anything which could potentially interfere with your performance?
  • Could you make a commitment now?
  • Tell me about your experience on a part-time job.
  • Of what accomplishment are you most proud? Least proud?
  • You don't seem to have done as well academically in college as you did in high school. Why?
  • Who else are you interviewing with? What do you think of those organizations?
  • How do you get people to do things they don't like to do?
  • Are you more interested in program development or implementation?

SECTION 6 - TOUGH INTERVIEW QUESTIONS

  • Describe yourself in 3 adjectives.
  • Let's pretend that the first 25 minutes of the interview have passed. What were you planning to tell me in the last 5 minutes?
  • How do you feel about working with numbers? What is 12% of 69? How did you figure that out?
  • Where do you think employment with this company will take you five years from now?
  • What do you think of our organizational structure?
  • How do you feel you work without direct supervision? Are you prepared right now to work without supervision?
  • Would you prefer to work independently or as part of a team? Why?
  • How much traveling would be ideal in a job?
  • What is one of your weaknesses? Now, I know you had one prepared, so give me another one?
  • What major problem have you encountered and how did you deal with it?
  • What have you learned from your mistakes?
  • What was the best part of your college experience? What was the worst part of your college experience?
  • Why should we hire you rather than one of the 200 other applicants?
  • What's your grade point average?
  • How much do you expect to earn?
  • What makes you tick?
    What question do you wish we had asked?
  • Highlight the one thing on your resume that separates you from everyone else on Penn's campus.
  • What don't you do well?
  • Tell me a time when you failed at something.
  • Describe a group work situation where you and your partner were having trouble getting along with each other. How did you resolve the problem?
  • Describe a situation when you were faced with a dead line that you couldn't meet. How did you handle it?
  • Describe a situation when you had to learn a large amount of material quickly. How did you do it?
  • You are very qualified. Why would you want to work at a small company like ours, when you could work at a larger company?
  • You work in a library, and a book has been misshelved. How do you find it?
  • What would your enemy say about you?
  • If you could be a fruit, what type of fruit would you be?

SECTION 7 - ACTUAL QUESTIONS FROM ON CAMPUS INTERVIEWS

Recent graduates were surveyed regarding their interviewing experiences. The following were questions that they encountered during their first and second round interviews.

Financial
  • Tell me about the CAPM (Capital Asset Pricing Model).
  • What are some flaws in the DCF analysis and how can they be corrected?
  • Describe what you believe to be the future of the derivatives market?
  • What is .125 squared?
  • How would you trade a butterfly with the following option prices?
  • How would you go about selling the idea of a derivatives hedge to a prospective client?
  • What is 5 2/7 - 3 7/8?
  • Two retail banks have different return rates on their loan portfolios, although default rates are similar. What might explain the difference?
  • Why would the cap rate on a Holiday Inn be the same as the Plaza Hotel?
  • How can you convince your client that the "higher yield" bond does not really give a higher yield?
  • How would you go about valuing a firm? How would you value a hotel in Minnesota if you only had one day to look around?
  • Give some suggestions to improve the credit card business of your bank?
  • What is the relationship between the forward and spot interest rate?
  • What is the difference between enterprise value multiples and P/E multiples. Why would you use Enterprise Value to EBITDA, and Price to Earnings?
  • How does depreciation affect the 3 financial statements?
  • About what price was the Dow Jones today?
  • Would you rather have a dollar today or two dollars tomorrow?

Consulting/Management

Case Questions - These questions are designed to give you the opportunity to demonstrate your ability to handle ambiguous data. The process that you follow to answer the question is much more important than arriving at the "right answer". Your quantitative ability will be judged. Consequently, it is important to have the figures that you develop in your answer be correct.

  • If you wanted to buy a ski resort, what would you consider? Draw a graph of cost and revenue per skier. Questions regarding graphs - how they would move/change with certain contingencies?
  • Estimate the total value of all the personal items on a commuter flight that arrived at Laguardia airport at 8:30 am this morning from Boston given that the plane was approximately 2/3 full. (Tip:` Don't forget to include checked luggage.)
  • You are a manufacturer of toys and you have a product that cost US $1,000. Estimate how many of those you can sell in Hong Kong.
  • You're taking a trip to Indonesia tomorrow to work with a company for a period of time. You don't know anything about this firm but you are provided with the financial statement of this firm from last year. How do you get the general idea about the firm's "health" condition, given that you only have one hour to report your opinion to your boss?
  • How would you go about advising a bank if it should implement an ATM system?
  • You are the consultant for a bank. Give some quantitative measures that can tell about the productivity of the operations department.
  • How many skis will be sold in the U.S. next year?
  • What is the market size for wall paper?
  • Estimate the number of airplane flights in a year.
  • Estimate the size of the paper clip industry.
  • A company dealing with a commodity product is thinking about expanding internationally. If its labor costs are competitive with industry standards, what issues might influence its decision?
  • What is the population of dogs in the United States?
  • Where would you put a gas station if there were none in New Jersey?
  • How many drug stores are there in Manhattan?
  • How would you estimate demand for forks in one year?
  • Estimate the number of printers in Hong Kong.
  • The sales of a travellers cheque company are falling. How would you go about deciding what should be done about it?
  • Estimate the demand of airplanes for a select category 10 years into the future. There are three producers and 10 airlines.
Marketing
  • Interviewer picked up a paperweight and said "sell me this."
  • If you were to introduce a new product into a foreign market, what are some of the factors you would first study in that country?
  • You need more shelf space in a store, how do you convince the store manager to give it to you?
Technical
  • Explain relational databases as if I were not computer literate.
  • Describe telecommunications protocols.
  • You mess up a depreciation/amortization number in your model, i.e. too low / too high. Walk through your income statement, balance sheet, CF and describe the net effect of your mistake.
  • What are the major challenges in computer security?
Miscellaneous
  • Did you ever have a leader you despised?
  • Describe a time when you used data to prove a point?
  • What is the biggest risk that you ever took?
  • If you could have any job in the world, what would it be?
  • What motivates you?
  • Why do you want to work for us and not for our competitor?
  • Give me an example of how you are a risk taker?
  • Why should we hire "you" over everyone else we spoke to today?
  • Why are tennis balls fuzzy?
  • You have very good grades. However, you don't you have a 4.0. Given the fact that there are students around with stronger academic credentials, why should we consider you?
  • Give me an example of a time your ethics were tested and how you responded and reacted.
  • Give a one sentence positioning statement of yourself.
  • If you could be one person in the world, who would it be?
  • What problems do you see in your school? How would you go about correcting them?
  • Tell me about a disastrous team experience that you had.
  • Use 12 equal sided sticks to construct 6 equal size squares?
  • What is the one question you don't want us to ask you?

SECTION 8 - QUESTIONS TO ASK INTERVIEWERS

  • What areas need the immediate attention of the person you hire?
  • What are the major responsibilities of this position?
  • What are the company's sales and profits projections?
  • Whom do you identify as your major competitors?
  • What are your plans for new products or services?
  • How would you define your management philosophy?
  • What are you looking for in the person who will fill this job?
  • Describe a typical day.
  • What kind of training would I receive?
  • Where can I expect to go from this position?
  • What activities could I engage in now that might help me on the job if I'm hired?
  • How long have you been with the company?
  • How centralized is the organizational structure?
  • What do you like most about your job and the company?
  • Whom could I speak with who has the position now or who has been promoted from the position recently?
  • What are the avenues for advancement?
  • What is the turnover rate?

SECTION 9 - MOCK INTERVIEWS AND WORKSHOPS

Interview Workshops

A number of workshops will be offered throughout the academic year to provide an overview of the interviewing process, including: what to expect uring interviews, how to prepare, and a discussion of additional resources to assist in your job search preparation. Dates and times of interview techniques workshops can be found in a listing marked WORKSHOPS AND ORIENTATION SESSIONS in the Wharton section of the Career Services website.

Mock Interviews

Mock interviews are available to discuss and practice the interview process. Students will gain an understanding of what is expected of them as well as the kinds of questions that they should expect from an interviewer. Mock nterviews are available with and without videotaping, although videotaping is recommended. To make an appointment for a practice interview, please call (215) 898-7533 or see the Wharton area administrative assistant.

SECTION 10 - SPECIAL CASES: ON-SITE INTERVIEWS

Follow-up interviews allow for more in-depth assessment on the part of both employer and student. The employer looks beyond basic qualifications to issues of "fit" and application of skills. As a candidate, you should also take the opportunity to observe as much about the company and its culture as possible. Remember that you are "interviewing" those at the firm as much as they are interviewing you.

Before

Since an on-site interview often involves at least some degree of travel, logistical preparation is required. Identify your primary contact(s) for travel arrangements (if necessary) and for the interview day itself. Request an itinerary for travel and clarify reimbursement arrangements. Some companies routinely pay for travel expenses. Others, such as government agencies or smaller firms, may be less likely to do so. If in doubt, simply ask what the company policy is on travel reimbursement. Make sure that you have accurate directions to the company and allow sufficient time to arrive in a timely fashion. It is also helpful to request an itinerary for the interview day that outlines the names and titles of those you will meet.

Invest in a briefcase that will allow you to carry numerous critical items (e.g. portfolio, newspaper, cell phone, etc...) Review your notes from previous preparation and prepare additional questions that are applicable to different levels of company representatives from top management to recent hires. For instance, questions for top and middle managers might address strategy and the "big picture" or their career paths. Questions for recent hires may address more day-to-day issues of work and lifestyle. Make sure to read the newspaper (preferably national and local) to ensure that you are up to date on current events.

An on-site interview is at least half-day and most are full days, so get sufficient rest the night before. If you are traveling directly to the interview, make sure that you wear a suit that does not wrinkle easily and avoid messy foods. Use your travel time to relax and gather your thoughts. Allow extra time for getting lost and plan to arrive at the company 15-20 minutes early to get settled. If you will be spending the night before the interview, you may be invited to a night-before reception and dinner. If so, be personable and professional because such events are still "part of the interview." When you settle in at the hotel, continue to convey your professionalism by not charging items to the room.

During

Maintain a good level of energy and be prepared to answer the same questions repeatedly since you will be interviewed by a number of employees and managers. Make sure you request business cards from all who interviewed you and note any interesting aspects of your conversation on the cards for later reference. If you are in a "group interview" along with other candidates, be confident and gracious. You are being assessed on your ability to contribute to a team effort. For all day interviews, designated employees often take candidates to lunch. Use the lunch as a time to build rapport and regroup for the remainder of the interview. Remember that the "interview" continues even if you have lunch with peers or recent hires, so avoid alcohol, smoking, messy food and presumptuous comments. The employer will typically pick up the tab for lunch. Try to order a mid-priced meal and avoid the most expensive items, unless specifically recommended by your host.

After

The purpose of follow-up correspondence is to thank the interviewer(s), to briefly recall any highlights of the interview conversation, and to reiterate interest in the position. Write the primary thank you letter to the person who organized the interview, perhaps with references to others who interviewed you. You may also write brief thank you notes or e-mails to the others who interviewed you. It is always helpful to personalize the letter by mentioning something specific you spoke about during the interview. Ideally, these letters should go out within 24 hours of the interview.

SECTION 11 - SPECIAL CASES: PHONE INTERVIEWS

Phone interviews are sometimes used by recruiters as an initial screening interview. Be sure to verify whether the employer is to call you or vice versa. Be clear on the interview time, especially in cases where there are different time zones involved. For example, is the interview 1:00pm Eastern Standard Time or Pacific Standard Time? One advantage of a phone interview is that you have an opportunity to establish rapport without the initial pressure of a face-to-face encounter and you can refer to notes as needed.

However, it is critical to understand that since the interviewer can not see you, you do not have the advantage of using visual non-verbal cues to reinforce your answers and convey enthusiasm about the position. Therefore, you must make sure that your tone of voice is as energetic as possible. Making sure that you are well-prepared and well-rested before the interview will be helpful in this regard. It is often said that smiling while you speak enables you to maintain a natural and upbeat tone without becoming monotone in your pitch. While notes may be helpful, do not become so relaxed as to read them verbatim. This can make you sound stilted and less engaging to the employer.

Lastly, make sure that you reserve a quiet space for your interview. If you must interview in your dorm room, make arrangements with roommates as necessary. If an employer calls unexpectedly and you are not prepared or in a good location to interview, always feel free to suggest setting up an appointment to have the discussion at a later time. It may be useful to have a calendar available in case the employer wants to schedule a follow-up on-site interview.

SECTION 12 - SPECIAL CASES: CAREER FAIRS

Career Fairs are not formal interviews, but rather shorter interactions designed to "capture" an employer's interest in talking with you further. Typically, each employer will be assigned to a table for you to approach to discuss their employment opportunities. Make sure you look at the web site for the career fair to find out who is coming, what they are looking for, etc. Then, do your homework.  Explore the web sites of the firms that interest you, so that you are familiar with the firms, and can ask good questions. Your research should help you to connect what is important to the firm to your background. Based on this, prepare and practice a brief statement introducing yourself and think of a few thoughtful questions to ask employers about their organization or position.

Check on what the proper attire for the career fair is. If you are not sure, it is best to err on the conservative side, as it is easier to “dress down” as necessary upon arrival by removing a jacket or tie. Bring plenty of resumes and place them in a portfolio or professional looking bag. Make sure you carry your belongings in such a way that you are free to shake hands and interact without appearing awkward. Some organizations will bring promotional gift items. Don't plan to take more than you can carry inconspicuously.

Arrive as early as possible, knowing which firms are a priority for you to visit first. It's up to you to approach the recruiters and initiate conversation. Introduce yourself and thank the employer for attending. Shake hands, make eye contact and offer your resume as requested. Your statements and questions should be specific and targeted, demonstrating that you have researched the organization. As a result, you are more likely to make a good impression in a very limited amount of time.

Be professional when talking to, or about, employers.  Some of your friends who have recently graduated may be at the fair helping with recruiting.  Remember that they represent the employer now, and are looking at you as a potential employee.   Be aware of others waiting. If you are very interested in a given employer and would like to talk further, say something like, "I'd like to speak with you further, but I see that you have others waiting. May I come back later to see if you have more time?” or “ May I take your business card to contact you if I have any more questions?"

Ask employers for their business cards and write follow-up/thank you letters if you are interested in the position(s).  Try to trigger the recruiters' memory of you by stating something that you had discussed with them. If you want to pursue a job with a recruiter, make sure you know what to do next (i.e. fill out an application form, send a letter of recommendation, etc…). After the event, jot down some information about each representative that you spoke to. This will help you in the future when contacting this person or others in the organization.

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