You're in a client meeting, or your MD is on his way to one and you see a glaring mistake in one of the figures -- what do you do?
I know this is a common interview question, but never really heard a good way of answering it. How do you suggest managing this situation should it occur?
Thanks
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My opinion...
if the client didn't notice it, don't bring it up.
if the client noticed it, admit the mistake and move on quickly.
This. But if the client didnt notice, bring it up to the MD after the meeting...and then either you or the MD call the client back to mention the mistake and state that its your mistake.
Try to warn the MD before he starts presenting so he knows about it and can decide whether to tell the clients or not. Just make sure he knows about it so that he isn't surprised if the client asks about it.
Mistakes on pitch books happen and a reasonable MD understands that.....the MD will be pissed if the client asks about the number/mistake and he does not have an answer planned/does not know about it before hand.
If the client did not bring it up, then it is likely they did not notice it. I would not call the client up and talk about the mistake bc its a waste of the clients time and makes you both look like idiots. If anything, I would send the client a "new updated" pitch book. The new pitch book would correct the mistake and add something else so that it looks like you did are just sending an updated pitchbook/more info for the client.
Excuse yourself and call compliance ASAP
Thanks for all of the helpful replies!
Now that I have more time, this is the perfect scenario for the "Time Travel". There have been variations. Step 1: Like every prepared Analyst, your attache should have the following items: a grey wig, spray-on tan, steak knife, picture of a child Step 2: Excuse yourself to the washroom. Step 3: Strip down naked, put on the wig, spray yourself with the tan, cut yourself with the steak knife. Small cuts all around the body. Step 4: Stumble into the meeting room with a bewildered look on your face, look at your MD and whisper "what day is it?", he will barely recognize you, probably be shocked. Ask again in a more urgent tone "what day is it?" He will reply with a date, but than you ask "no, what year?" When he answers you say "It worked...." Pass out again. Step 5: Wake up 5 minutes later, say that you are from the future and you came to tell them about a small mistake in the financials. The year 2050 is run by a dangerous corporation. This corporation enslaves humans and makes them into energy sources (more believable, its been done in the movies). The fix in financials will allow the subject corporation become a powerhouse in the future and fight off the evil corporation. Step 6: Take out picture of child, look at it. Pretend to gently brush the hair out of the eyes (the hair always seemed to be in her eyes). Sigh... all that hard work.... was not in vain, RIP your future child who was enslaved in the Great Battle of New York, year 2045.
Boom. Error fixed bitches.
very nice
What kind of glaring mistakes do you usually notice after editing the books 100+ times? I would imagine that at that point, you know the book like the back of your hand.
Read Monkey Business....there is no way to fix every mistake.
Not sure since I haven't started my FT position yet, but I was interested in the best way to handle it if it happens. Let's hope it doesn't, but still...
Ignore it depending on materiality, otherwise give the MD a heads up.
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