I refused to take the Excel Modeling Test

I don't really understand why you refused. These tests are pretty much required for junior level employees.

It just looks very odd, almost like you can't do it - that would be my takeaway and would definitely be a big minus in your file. 

That’s a wholly unreasonable ask on the potential employers end. And for 4 years out 85k base is laughable. I’d imagine that’s an awful place to work.

Lmao it sounds like they're trying to farm out work and get the work done for free. You definitely dodged a bullet there.

I'm mixed on this one tbh. I don't blame you for saying no to the modeling request, but did it actually occur post agreement on offer/price? Like this was more due diligence on you? Or something like that? Most "modeling tests" are more screen out methods for junior people, and yeah with ~4 years exp not a common item. But, this doesn't sound like a modeling test, more like a full audition. I'll agree not standard, but more senior roles due do ask people to make presentations on strategic vision, investment strategy, etc. (in fairness these are more "leadership" items), so I guess a trial run model at more junior/mid level could be a thing (I wouldn't do as an employer to be clear). 

Personally, I'd find a way to "negotiate" on this (if it is really a good job you want and still under active consideration), like "If I do this successfully, then I'm clearly worth 100k base, etc.". Since you don't seem like you "need" this job, play hard ball!!!

UPDATE: They shared, "You are too senior and too mature for this role. We are moving in a different direction for this hire, which is really a more low level analyst position."

You asserted your dominance. 

GG

First, this is based - absolutely fuck case studies.  Especially ones that take over an hour, presuming you already have transactions experience.  Literally the biggest waste of time considering every single firm already has templates.  If they don't, it is probably a bottom tier firm if juniors are building models from scratch.

Second, was this Mill Creek residential? Had a good friend do their case study (apparently killed it) and it took him 18 hours and they made him do 8 interviews, and then ghosted him lol

Yes brotha. A modeling should not take more than 2 hours of your time, however complex they want to make it.

Any company reserves the right to ask the candidate to demonstrate their skills on excel/ppt whatnot. But the potential employer must be respectful of people's time since it is the candidate interviewing the firm just as much as the other way around.

Good for you for slamming down the hammer.

BASED.

I've heard of some smaller shops in PE asking for absolutely asinine modeling tests only for the VP/Principal to tell the candidate they just wanted to see how far they'd go. I think that's stupid as hell and puts undue pressure on candidates. I think you did the right thing because if you didn't agree with the interview process they presented you then there's a chance you wouldn't gel with the culture there anyway. A lot of the shops which purposefully create ridiculous modeling tests or case studies with unreasonable expectations are usually full of dudes who wear black dress shirts and excessively use the word "hustle" anyway so I don't think you missed out lol

wow 100k isn't NYC market? how high does it go

Well this sure is entertaining

That for 100K base even in real estate is a joke.  It sounds to me like they had an asset pop up on their radar that they want to raise some additional outside capital on and are hoping they can stick the work with someone interviewing.

If I was looking to hire a candidate and he/she refused to do any part of an interview assignment, I would immediately can that person. That would signal to me that the person is (i) incapable of doing the work (irrespective of what the Dropbox files might show) and (ii) believes he/she is above the task and is, therefore, likely arrogant, lazy, and not a team player — all terrible qualities. It sounds like everything worked out for the best here, as neither OP nor the company actually wanted to work together. But for future jobs that you actually want to land, I would take the test and ace it. And once hired, don’t ever complain about a task being too menial or beneath you, whether you’re a first year Analyst or an MD. Sometimes we all have to do a little extra, so might as well do it with a smile. If that attitude seems unreasonable, don’t expect to get paid or ever achieve anything more than mediocrity in your career. Attitude is everything.

Companies should require a modeling test based on the role or set expectations, if not, high caliber candidates will end up leaving on their own or get pushed out due to politics.  I have been on both sides of the coin... previously worked at a shop where my boss/head of acquisitions had no idea you can link two excel files, or do a basic MIN, MAX or IF statement to build basic proformas in excel.  This moron and scum of a human being also had no idea what sources & uses, discount rate, etc meant which led to a lot of frustration.  Top down, it wasn't about being accountable for your work but about kissing ass to leadership to move up or get rewarded.  It wasn't a learning environment which made it frustrating!  I don't expect my boss to know excel but they should have a VERY STRONG foundation in real estate, JVs, negotiations, creativity, etc. and be able to get in the weeds if needed to execute if or when I am stuck.  Based on shop structure, I think it's critical to use analytical skills to drive impact while also learning so it's a "win win" for all parties especially at analyst through VP/director level.  I got my current job because an MBA from a toptier real estate program BSed his way through the interview process and got fired a month later because he couldn't model a basic hold / sell/ refi analysis.  During my interview at my current firm, a strong boutique developer, I asked to see their in-house model and also wanted an excel test so it would be a "win win".  I have been more than impressed with the firm and the leadership team!  I have worked on very complex deal structures (we partner with family office, PE, converatible strucutures, etc) and if/or when I am stuck, the principals of the firm who are in their mid to late 40s will sit side by side to figure out how to solve the problem.  THAT'S LEADERSHIP!  Hold me accountable but also be willing to help me learn and grow.

I have worked with morons who couldn't do their job but used their relationship with management to control others in the organization.  Quite frustrating working with these type of people.