Interview for Associate role

Once you have been in the industry for some time, if you apply for an associate role do you still need to do a modeling test where you start from scratch? Or associate roles more understood that you can plug in the correct numbers into the already template model? Therefore the interview would be more behavioral?

 

You mean once you're actually onboarded how often will you need to model from scratch? Frankly I don't know any shops that don't have at least some sort of mostly functional internal template, nobody is modeling every single deal 100% from scratch.

If you mean for the modeling test in an interview process, you're not going to be given a template for that.

 
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Most firms will still test at Associate level because its still a modeling-heavy role and lots of shops have horrendous financial modeling practices so its a screening tool to make sure you learned good technique in your analyst days. If you're coming from a top tier fund then of course they'll expect you to ace it, but they'll likely still have the test as a standardized stage of the interview to screen people from less reputable shops.

At Director/VP (depending on which comes first at your firm) level, or Manager if its a role at the company, generally they stop testing modeling unless it's a super lean team.

 

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