Why PWC Interview Questions
How to answer the question "Why PWC?"
What is PWC?
PricewaterhouseCoopers (PwC) International Limited is a British company specializing in professional services. The company, which operates in 158 countries, is the second-largest in the world in the professional services network and is one of the Big Four accounting firms.
The company specializes in professional services. Some of the company’s key areas are:
- Consulting: helping clients address challenges their business faces, such as technology implementation and risk management
- Tax Advisory: assisting clients in managing their taxes by providing guidance to optimize tax benefits and making sure companies follow federal tax regulations
- Deals and Transactions: support businesses in their business ventures such as divestitures, IPOs, and M&A with services like valuation, modeling, and due diligence
The interview process of PWC will not necessarily be a ‘walk in the park.’The process consists of a Game-Based Assessment, a HireVue video interview, the Assessment Center, and an Interview with the Manager and/or Partner.
Keep in mind there may be several rounds of interviews based on the role you are applying for.
From reading interview stories online, it is clear that the company’s interview process consists of several steps.
Wall Street Oasis has detailed information about the company’s interview process. You can read all about them at this link. Be sure to read about the company, in general, here.
PWC Interview Tips
Here are 10 tips that you can follow to ace the interview:
1. Use the STAR method
Answer questions by breaking down the situation, the task you were given, what actions you took, and the result of the situation.
Note
Remember, Situation, Task, Action, Result. This is highly effective for answering behavioral questions.
2. Research the company
Be sure to understand values, what the company is working on, recent deals, and culture.
3. Show what you know about regulatory compliance
A firm that works in regulated industries a lot like PwC wants candidates who know their regulations and frameworks down pat. Know the main ideas of frameworks like IFRS, GAAP, GDPR, etc. Understand how these relate to your role as well.
4. Be very specific
Being vague leads to misunderstanding, especially if there are multiple interview rounds; information must be clear so that companies can keep an accurate record of what you said and did not say.
5. Show interest
Attend events the company hosts, connect with company employees, and follow the company on recruiting sites to know when new positions open up. This demonstrates a desire to work at the company.
6. Understand the connections between consulting and accounting
PwC loves to ask case questions during interviews. Make sure you can piece together your job with the company’s overall goals. Case questions don’t always deal with your area of expertise, they deal with the company’s expertise.
Since PwC deals mainly in consulting and accounting. Make sure you understand how they both work together and some differences too.
7. Show your data analytics skills
This is the age of data analysis. Leading consulting/accounting firms like PwC need individuals who excel in Excel, Tableau, and Python. This makes the work day more streamlined and efficient. Create projects and be ready to speak about them.
If you don’t have the experience, at least start taking courses online. Then, you can say you have a desire to learn and the company will value this honesty and your ability to take initiative.
8. Ask meaningful questions
It is recommended to ask questions whenever the interviewer prompts if you have any questions or concerns. Always ask at least one question.
Note
- If you really cannot think of any questions, use these few:
- In the next 5 years, what direction is the company heading in?
- What does a typical workday look like for someone in this position?
- What do you love most about the company?
This is something many people do not utilize. Practice interviews can help you familiarize yourself with the interview format. You will feel more comfortable and confident about the real interview.
By simply practicing with a friend, family member, or mentor, you can refine your answers and have them down pat for the real interview
10. Explain your thinking
Consulting and accounting both require problem-solving skills. Although PwC cares about the answers you give to questions in interviews, they care more about how you ended up there.
Why PWC Interview Question
As with almost every consulting firm, there will be a question along the lines of “Why this company?” Your answer to this question is a crucial factor when deciding if a candidate is fit for the company.
This question inquires about the candidate’s motivation for working at the firm. Tips to make your answer great are:
- Showcase what you bring to the firm
- How you can grow
- Be specific
- Do not bring up the salary
An example response is:
“The prospect of joining PwC excites me. As the company has a vivid history and reputation for excellence in consulting, I look forward to contributing. I am a hard worker and believe I embody the company’s values.
One factor that attracted me to PwC was its global presence. As the company operates in 158 countries, I would feel proud to be a part of a global organization. Working with a diverse clientele is appealing.
Knowledge-wise, I would feel more rounded out since I can work across various industries.
I want to work for a company that encourages collaboration, and everyone helps each other become better. PwC is this.
The firm’s commitment to employee training and bringing unique perspectives to conversations is exactly what I need. I would love to be a part of such a driven environment.”
PWC Behavioral Interview Questions
These questions are as important as the technical questions. It is important to do your research on the company and the work you will be responsible for and answer each question to the best of your ability.
Behavioral questions aim to understand how a candidate demonstrates certain traits that align with the company. More specifically, the company’s values. This leads us to an important aspect whenever you apply for a role.
You must understand if the company is truly a good fit for you. One way to assess this is by reading about the firm’s values.
It is important to highlight your actions, the challenges you have endured, and the outcomes. These answers should be drawn from professional experiences.
Examples of behavioral questions include:
Answer this question by introducing the scenario in a few sentences. Then, make sure to highlight what the challenge was, but mainly focus on what you did.
An answer to this might look like this:
“At my last job, an employee on my team unexpectedly resigned. She played a key role for us but left us very quickly, and the rest of the team had not prepared for this.
To overcome this, I assessed the situation and delegated adjusted tasks for each team member in alignment with each person’s strengths.
I also brought HR in to speak with team members about the quick change. After speaking to the team about the solution we had to sell and the upcoming meeting with the client, we all got on the same page and worked hard.
This was a tough situation that ended up working out! Even though a talented coworker left, we still worked together and did great.”
Answer this question by highlighting why you embraced a new idea. The word “embrace” indicates a change in heart. So, ideally, try to use an example where you were not fully on board with an idea, but then something changed, so you ended up embracing the idea.
An answer to this might look like this:
“During a team brainstorming meeting at my last job, my team was tasked with improving the company’s customer service.
My colleague introduced the idea of a chatbot. The bot would handle customer inquiries. I was hesitant as I felt the bot would lead to fewer personal interactions, making customers less likely to return.
However, I researched the benefits. We would save lots of time and money with the chatbot system. Efficiency would increase.
Overall, I embraced the new idea of the chatbot and allowed the team to benefit. I also learned the importance of being open-minded.”
Answer this question by discussing your character. Why are you the way you are with deadlines? Some people are very organized, while others are not. This is a shorter behavioral question, so address it accordingly.
An answer to this might look like this:
“I prioritize tasks based on urgency and the level of importance. I have adopted a scheduling system where I break down my days and plan out how much time I spend on each task. This makes me feel more organized and has worked well for me. I also break tasks into manageable chunks.”
Answer this question by only highlighting the opportunities PwC presents. If you speak too much about the negatives of the last job or how things ended, it may come off to the interviewer in the wrong way and make them think twice about hiring you.
An answer to this might look like this:
“I am seeking opportunities to further develop my skills in the consulting space. I believe PwC will contribute to my growth as a dynamic and innovative firm.”
Answer this question by speaking from the heart. Your interest in a career choice should be personal and not a copy and paste of an answer by someone else. Interviewers can see through this, so it’s key to be genuine.
An answer to this might look like this:
“Consulting sparks my interest because there is exposure to various industries. So I feel that consulting opens multiple doors. I like the idea of solving problems in a team-based setting. Plus, giving insight and guidance to clients is a unique part of the business.”
Excel at answering behavioral questions by providing specific details, focusing on what you contributed to a situation, and connecting to PwC’s values.
PWC Technical Interview Questions
Nowadays, excelling at the interview process and landing that dream job goes beyond just the interpersonal skills and fit a candidate has to the company. Firms like PwC assess a candidate’s knowledge. These ‘technical’ questions evaluate the candidate’s thinking process and expertise.
More specifically, technical questions provide a means for employers to gauge candidates' abilities to apply theoretical concepts, their understanding of the industry, and their problem-solving skills.
Technical questions vary based on the industry, position, and company.
During the interview process, it is key that a candidate reads the news and understands industry developments. Research the technical competencies required for the role and fully immerse yourself in all its specifics.
A person who is interested in what they apply for shows their genuine commitment to the role.
Examples of technical questions include:
For a candidate applying for a financial advisory role
“Discounted cash flow analysis is a method to value an investment or project. It is based on the idea that the value of money decreases over time. DCF first forecasts cash flows. Then, the discount rate is determined.
The discount rate accounts for the risk premium and the time value of money. Next, cash flows must be discounted. Then, the net present value is calculated by summing present values.
Lastly, the net present value is compared to the initial cost or investment.”
For a candidate applying for an audit role
“This is the rough process to assess internal controls. First, the company objectives must be identified. Understand why you want to look at these internal controls. Typical objectives are to ensure the reliability of financial reporting and protect assets.
Next, make sure you know the environment in which you are operating. Understand how the company management feels about internal controls.
Identify key controls. Then, evaluate the design of the controls. What are they designed for? Test the controls for their effectiveness. After testing, try to find where the controls are lacking.
Document these findings, including the strengths and weaknesses. Then, try to figure out solutions for the weaknesses and then test again. Monitor this ongoing process and review the internal controls.”
For a candidate applying for a data analytics role
“I would first have an objective formed to understand why I am examining the dataset. Then, I would prepare the data. This includes cleaning and integration. Then, I will perform exploratory data analysis to visualize the data via charts and/or graphs to identify trends.
I will also use statistical analysis to assess the significance of relationships. Next, I will mine the data and use clustering algorithms to classify the data points. Then, I will interpret and share the results with the business”
For a candidate applying for a tax advisory role
“Tax evasion is the illegal practice of intentionally evading taxes by distorting income and/or assets. Tax avoidance is a legal practice of arranging finances to minimize tax liability.
Tax evasion uses activities like inflating deductions and misreporting income. On the other hand, tax avoidance utilizes legal techniques such as tax exemptions and tax planning.”
For a candidate applying for an IT advisory role
“Cloud computing is a model that provides users with on-demand access to computing resources. These resources are sold on a pay-as-you-go basis. Advantages include cost savings, accessibility, and opportunities for collaboration.”
Succeed at answering technical questions by familiarizing yourself with the technical competencies required for the role, providing strong examples, and explaining your problem-solving approach.
Conclusion
PwC is a household name in consulting and professional services. Many candidates apply to work here. The firm is desirable, therefore making the interview process more competitive. Be ahead of the curve and prepare for the different stages of the interview process.
No one way of preparing will work for everyone. Each interview is a learning process. Learn about the company and the role. Along the way of preparing, you will see what works best for you.
Do as many practice questions as possible, both behavioral and technical. They may not be the same questions for the actual interview, but experience is the most important. Interviewers can tell if you practiced the day before. Practice, and then you will be calm and collected.
Don’t worry. You got this!
This article, the Wall Street Oasis website, and the company site are great resources to check out.
Good luck with your applications and interviews!
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