Ernst & Young Interview Questions

Ernst & Young Application Process - Corporate Finance & Advisory (excluding BAS)

Application Process

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The application process consists of:

• Online application form
• Online numerical reasoning & verbal reasoning test
• Written numerical reasoning test
• First interview
• Assessment centre

Online Application Form

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You will need to submit:

• Personal Details
• Career Preferences
• Your Strengths (Competency Questions listed below)
• Academic Results (GCSE, AS/A Level, and Degree including module grades)
• Responsibilities and Work Experience

Questions which appear on the application form:

• What was the last activity you completed that took you out of your comfort zone? (max 150 words)
• Describe a time when you have contributed to motivating a team? (max 150 words)
• Describe how you have applied something that you have learnt to make a practical difference. (max 150 words)
• Describe a situation where you took responsibility without being asked (max 150 words)
• Describe the last time you delivered a task that required sustained effort. (max 150 words)

Online Aptitude Test

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Applicants who have A-level Mathematics or significant mathematical content in their degree may progress straight to the first interview stage of the application process.

The online numerical & verbal reasoning test is the GTIOS psychometric test. Candidates are required to sit both tests.

Most people will need to practise the numerical reasoning test to pass it. Pages 7-23 of this book may prove extremely useful in preparing for any of the numerical tests.

Written Numerical Test

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If you are successful at completing the online application form and test, you will be asked to attend a numerical test in person at an E&Y office. You will be told if you have passed within 2-3 days.

The test is designed by SHL and consists of 35 questions in 30 minutes. The test is multiple choice, in a similar format to the online test, and you have a choice of five possible answers for each question.

You will be required to interpret data from tables and graphs, and typically there are 2-3 questions based upon each table or graph you are given.

It is unlikely you will finish the test, and the questions are challenging. Graduates with a mathematical background are sometimes exempted from the test.

Most people will need to practise the numerical reasoning test to pass it. Pages 7-23 of this book may prove extremely useful in preparing for any of the numerical tests.

Read more about Ernst & Young interviews on the WikiJob candidate interview forums.

First Interview

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The E&Y interview is a general interview with some competency based questions and will last approximately 50 minutes. This will be with a manager from the line of service to which you have applied.

Questions that you are likely to be asked in this interview include:

• What motivates you?
• Why do you want to join audit/tax/advisory?
• Give an example of a time when you had to go out of your way to help someone.
• Do you need to be an expert at something in order to lead a team?
• Give an example of when you had to change the way you did something in order to solve a problem.
• Do you enjoy hard work
• Do you believe in talent or hard work
• Do you ask for more responsibility
• How do you manage risk
• Would a friend say you are organised?
• Do you plan your week

Questions people who have applied for Tax positions have specifically been asked:

• Why tax?
• What have you done to follow up/learn about tax?
• Should there be more hours in the day?
• Tell me about your groups of friends?
• Do you talk to different groups of friends differently?
• Is there a company/brand you admire and if you could ask them some questions what would they be?
• Do you enjoy working in a team?
• Have you ever wanted to quit something?
• Have you ever put the needs of a team before your own?
• Have you ever done something differently second time around?
• Have you ever built a relationship with anyone?
• Do you prefer starting or finishing?
• When have you persuaded someone?
• Do you prefer quick action or careful planning?
• How do you know your strengths and weaknesses?
• Why would you be better than other people?
• How would a lecturer describe you?
• Would a friend say you are organised?

Assessment day

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Generally speaking the assessment days do not take place in busy season (January - March), so most assessment days will be from March onwards.

The assessment day consists of:

• Partner interview (60 minutes)
• Report writing exercise (90 minutes)
• Group exercise case study (10-25 minutes)

Partner Interview

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The partner interview at E&Y is substantially more competency based than other firms. Expect similar questions that you had to field in your first interview, including:

• Why Ernst & Young and not another Big 4 or a smaller firm?
• Why audit/tax/the line of service you have applied?
• What is audit/tax/the line of service you have applied?
• Give me an example of when you motivated someone.
• Give me an example of when you worked in a team.
• Give me an example of when you were a leader.

Report Writing Exercise

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You will have to sit a report writing session. You will be given information relating to a hotel, which has a subsidiary which it is considering selling. You will be required to think of the advantages and disadvantages of the hotel's divesture, and what services E&Y could provide or obtain through the divesture, should it take place.

The exercise is extremely time pressured. You should spend time planning your argument before you commence writing. You will be writing on paper, so ensure that you use correct grammar and spelling, and that your writing is clear and legible.

Group exercise

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The group exercise is based up on the same scenario used for the report writing exercise. You will be asked to sit in a group with other candidates. You will be required to work as a team and be required to agree upon:

• The 3 most beneficial advantages of the hotel's divesture
• 3 disadvantages of hotel's divesture
• What other information ought to be considered when examining the hotel's divesture.

You will only have a short time to reach a conclusion, so you must work quickly. The assessors will have no knowledge of the points made within the written exercise, so you are free to reiterate these during the group exercise. You will be assessed on how well you work as a team, and you should seek that everybody makes an equal contribution.

National Tax Assessment day

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The tax division has its own assessment day, which differs from other service lines, although the bulk of the day is the same, the case study is not.

The tax assessment day consists of:

• Partner interview (60 minutes)
• Case Study exercise (75 minutes)
• Group exercise of case study (30-40 minutes depending on the group size)
• Client preparation meeting (30 minutes with 10 minutes of preparation time)

Case Study Exercise

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You will have to sit a case study session. You will be given an information pack relating to a magazine publishing company. A partner from EY is due to meet with the CEO of the publishing company and has asked you to brief him on the main points for discussion. You will be required to write bullet points (on a laptop) of areas which you think are important, and questions you think the partner should raise with the client. You then need to identify the top three priorities from your bullet list, and your reasoning. Finally, you need to suggest some other areas in which EY could provide services to this company. You will be required to perform some simple debt to equity calculations, and some "effective tax rate" calculations and comment on them. The pack shows you how to do this, and it is not complicated at all.

A few things to note about the case study:

• Make sure you are very aware of EY's services, particularly within tax. There is mention of changing the way employees are paid, so human capital solutions is a good one to mention (as well as corporate tax planning etc).
• The UK group owns subsidiaries in Denmark and Switzerland, and at the back of the pack there are inland revenue rules VAT collection within EU states. Switzerland is NOT in the EU and so the rules stated do NOT apply to them.
• The UK group has a loan at preferential rates from the parent company. Read the "arm's length" guidelines at the back of your pack carefully, as this applies to this transaction.

Group Exercise

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The group exercise is based up on the same case study as the first exercise. You will be asked to sit in a group with other candidates and further prepare for the meeting between the partner and the client.

You are told that the three major principles which the partner wishes to discuss in the meeting are

1. UK group's expansion
2. The tax compliance issues
3. The loans that the UK group has taken

You will also be required to discuss any other services within tax that EY could provide.

You will be required to work as a team and discuss the points within these categories.

You will be given a fresh printed copy of your written bullet points that you made during the first exercise. You will NOT be given the initial information pack for this exercise, so make sure you remember key points, or perhaps include them within your written bullet points so you can refer back to them,

The assessors will have no knowledge of the points made within the written exercise, so you are free to reiterate these during the group exercise. You will be assessed on how well you work as a team, and you should seek that everybody makes an equal contribution.

Client preparation meeting

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This is a role play event. The partner has not had time to review your written notes, and would like you to brief him before he meets the client tomorrow. This exercise is held with a partner or a senior manager.

You will be paired off with a member from your group discussion and will have 10 minutes with each other to agree on points to raise with the partner. You can draw on the ideas raised within the group discussion. You will also need to propose an agenda for the partner's meeting with the client and suggest objectives for the meeting. Make sure you split the talking equally with your peer.

After the 10 minutes of preparation, the partner will walk in and begin the assessment stage. Be prepared to be questioned throughout - this is not a presentation, but a discussion.

Further Information

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For further information see:

• Competency based interview
• Internships
• See the WikiJob forums