How important are modeling tests in summer internship interviews?
Let's say you do really well in the fit/behavioral interviews but can't model as well as other candidates. How much do you take into account their modeling skills when you make your final decisions?
Modeling tests are often more for screening than trying to rank modeling skills between otherwise qualified candidates. I.e. weed out those who can't actually do it. Most tests are designed to have a right answer, some allow for secondary analysis/introspection, but generally the did you find the right NOI, IRR, etc. is the critical part.
So, if you mess it up badly (like clearly had no idea what you are doing), it should be disqualifying. If you made simple errors, but clearly knew what you were doing, I doubt it alone would be a deal breaker. Still, if the internship will involve substantial modeling and analysis (many do), you really want to nail the tests to be assured you don't get left at that round of interview.
Modeling tests are usually given for FT ... which positions or firms have you seen that give modeling tests for SA?
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