Problem Solving - How to Improve Next Time
- 01:03
Investment Banking Superday interview problem solving - How would you help an analyst improve after submitting error-filled work?
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What would be a sort of action plan for, if you were to put something in place that says, this is what I'd like you to see next time, what would that look like? Okay. Maybe it'd be best to illustrate this with, uh, let's go with, uh, DCF. So an actual model, because this is a, a good example of what analyst might produce. An analyst might produce a model and there might be quite a few inaccuracies.
So let's say that the inaccuracy is just in moving things over.
So you could say, okay, look, your problem here is that you've moved lots of the data over from the financial statements and you've put it in the wrong place.
Or maybe numbers are missing.
I then say, okay, so what we can maybe do to eliminate this is I'll give you some more models that have already been done in the future.
It'll take you half an hour for each one and just do them and make sure that each time focus on the accuracy.
Make sure that the numbers that you produce match the numbers in mind.
'cause that way it's not like they're just doing another model and then they've gotta go and check it themselves.
They can cross check it with work that's already been done, and it doesn't even take a lot of, a lot of time to correct an issue that's relatively small.