Cornerstone Research

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Cornerstone Research Interview Questions in New York City, NY

Updated Nov 11, 2014
Updated Nov 11, 2014
17 Interview Reviews

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  1. 1 person found this helpful  

    Analyst Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied through a recruiter. The process took 2 weeksinterviewed at Cornerstone Research in October 2014.

    Interview Details

    All interviews are 45 mins long, with 5~15min talking about experience/resume, and the rest half an hour is a case. I did 9 cases for the entire process.

    1st Round: Phone, I received an email almost a month after my online application. There were 2 Cases with analysts / senior analysts. They are very standard economic consulting cases similar to Cornerstone website's. The cases always lead to an estimation equation / regression at the end of the case. Both cases are not very difficult and easy to prepare. I heard back and set up the next round within 5 hours.

    2nd Round: Phone. 2 Cases again, one with an associate this time. The case with associate (who has a PHD degress) were a little more tricky, yet more fun. It required more in-depth thinking, also with a little game theory knowledge helped. Within 36 hours I heard back results, and also got round-trip tickets and (fancy) hotel arrangement for final round coming in two days, basically no time to prepare.

    3rd Round on-site: 5 Cases plus a lunch, each case's structure was similar to the rest, but were SIGNIFICANTLY HARDER. (Don't be mislead by Glassdoor's interview difficulty rating - you know why) Cases were comprehensive - covering many industries, practice areas, and also concepts from your classes: finance, accounting, microeconomics, statistics, econometrics (I suppose they were catering to the candidates' experience, as your academic transcript were read thoroughly).

    Totally burned out after all interviews, and performed very badly on at least one of them. However, also very impressed with the analysts, culture, and work environment. Sadly received a nay after a week.

    Interview Questions
    No Offer
    Difficult Interview
  2.  

    Summer Analyst Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied through college or university. The process took a weekinterviewed at Cornerstone Research in January 2014.

    Interview Details

    After applying through my campus career center, I was called in for an interview on campus. The interview was short--about 30 minutes--and consisted of typical behavioral questions followed by a short case. They were most interested in hearing about why I wanted to work in economic consulting, and what drew me to Cornerstone specifically. I did not receive a follow-up interview, which would have been in their New York office.

    Interview Questions
    • The case was pretty out of the ordinary. Not a typical management consulting case, and not one that involved numbers. More interested in gauging your thinking.   Answer Question
    No Offer
    Neutral Experience
    Average Interview
  3. 6 people found this helpful  

    Analyst Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied through an employee referral. The process took 2+ monthsinterviewed at Cornerstone Research.

    Interview Details

    Had a first round interview with 2 Analysts. First 10 minutes or so asked the usual questions (Tell me about yourself, Why do you want to work in the industry/Cornerstone in particular, Tell me about a time you work in/had trouble in a group, What were your favorite Econ classes, Tell me about a time you were faced with a deadline). After that were 2 cases.

    Most of the cases I had were basically similar to a valuation case, where you need to try to estimate some amount of damages or value through a regression. Key here is to have some idea of what your dependent variable should be as well as variable of note(what you're trying to measure). These two are pretty easy and you should get them right away, there are usually a few different ways to set it up also. Basic econometrics here.

    What they really try to harp on is adding in plenty of controls. Make sure to add external elements(mainly overall market conditions, so the stock market often works. Also can think of competition's performance among other things) as well as firm specific factors(input costs, ect.)

    Just be sure to brainstorm with them, say things like, wouldn't this be something we'd like to measure/hold constant?

    Second round was exactly the same format, but with one higher level and one analyst. In addition to valuation, Had a case here looking at financial performance of a company before and after an event(event study). For this you just really need to know basic finance econ, things like alpha/beta, expected return/abnormal return, SML formula, ect. Had to explain why you cant look straight at stock drop in order to measure actual losses.

    First two rounds they were super encouraging in the cases, they'd be like yes, exactly right, or, what else do you think would help here?

    Final round was in office, 5 interviews and lunch. Format was exactly the same for each one, same questions at the beginning and then a case. Had 3 Analysts and 2 upper level. Cases were similar but some were really tricky. Totally bombed one of them, had no idea what he wanted so I was just kind of talked at him.

    Something different about this round is that 3/5 of them were not as encouraging/helpful in the cases(probably on purpose). Thought I bombed one and another two didn't get much feedback, so wasn't feeling too good about it, but don't worry if they aren't really being positive, just keeping plowing ahead.

    There's a lunch as well, but non evaluative(for me). Was a good time to ask more personal questions.

    Interview Questions
    • Explain how a Beta is calculated, Tell me something that you are most proud of that may not be reflected on your resume.   View Answer
    Negotiation Details
    No negotiation possible but I didn't press them hard on it. Was by far the best offer I received, compared to competitors
    Accepted Offer
    Positive Experience
    Average Interview
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  5. 2 people found this helpful  

    Analyst Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied online. The process took 1+ weekinterviewed at Cornerstone Research in October 2013.

    Interview Details

    Applied and interviewed through on-campus recruiting. The process in total took less than two weeks, beginning with one case interview for the first round, two case interviews two days later for the second round, and 5 back-to-back case interviews on-site for the final round two days after that. Cases had to do with a wide variety of topics, including graphs for analysis. Most were about basic economic principles and intuition about calculating damages.

    Interview Questions
    • A case about put and call options, and how to price them relative to each other.   Answer Question
    No Offer
    Neutral Experience
    Difficult Interview
  6. 1 person found this helpful  

    Summer Analyst Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied through college or university. The process took 1+ weekinterviewed at Cornerstone Research in January 2013.

    Interview Details

    I will be studying abroad in the spring, so I began the recruitment earlier. First round was by phone, two 45minutes cases. I nailed the first case, but did not do well on the second one. The first one was estimating damages from patent violation, and second one was on mutual fund. Be sure to take a look at their published works--it helped me a lot with the first case.

    Interview Questions
    No Offer
    Neutral Experience
    Difficult Interview
  7.  

    Research Associate Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied online. The process took a dayinterviewed at Cornerstone Research in December 2012.

    Interview Details

    The HR person emailed me and set up the interview, two back to back 45 minute ones. I met a research associate and a principal during the interview. They asked me about my job market paper, and why I chose the field I was working at. Then they gave me a case to work on. Both cases are about litigation issues of salary.

    Interview Questions
    • What is a reasonable salary for a certain industry?   View Answer
    No Offer
    Neutral Experience
    Difficult Interview
  8.  

    Associate, Economic Consultant Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied online. The process took 2 weeksinterviewed at Cornerstone Research in December 2012.

    Interview Details

    In-office visit at NYC. I had two interviews with them. Each one was about 45 minutes. In each interview, we discussed a business case and they asked questions related to the case. People are very nice and the questions are very typical.

    Interview Questions
    • The questions were very typical and I had no unexpected questions.   Answer Question
    No Offer
    Positive Experience
    Average Interview
  9.  

    Analyst Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied through college or university. The process took 1+ weekinterviewed at Cornerstone Research in September 2012.

    Interview Details

    8-10 45 minute cases. Most of them are very canned typical cases with easy responses. A few are remarkably difficult but the interviewer itself is usually dumb enough to fall for canned responses. Each analyst is required to create a case, and that case is administered by that analyst throughout his Cornerstone career. You'll do well if you ask a current employee friend of yours what the cases are like, since the cases hardly change.

    Interview Questions
    Negotiation Details
    No negotiation and a below-market offer.
    Accepted Offer
    Positive Experience
    Easy Interview
  10.  

    Summer Associate Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    I applied online. The process took a dayinterviewed at Cornerstone Research in February 2012.

    Interview Details

    2 interviews with 2 different employees. They asked about my research, then presented 2 case studies. You can get a good idea about cases by researching their website.

    Interview Questions
    No Offer
    Positive Experience
    Average Interview
  11.  

    Summer Analyst Interview

    Anonymous Interview Candidate in New York, NY
    Anonymous Interview Candidate in New York, NY
    Application Details

    The process took 2 daysinterviewed at Cornerstone Research in February 2012.

    Interview Details

    I got the interview through the career center. Consisted of a series of 1:1 interviews.
    Everything went pretty smoothly. I knew I was on the right track with the case interviews because the interviewer was giving me positive feedback (e.g. "That's exactly right" or "Good suggestion, that's what we actually did when we were working on this case").
    Overall, it was a great experience.

    Interview Questions
    • What is the difference between a hedge fund and a mutual fund?   Answer Question
    • How would you analyze the riskiness of a fund-of-fund's portfolio?   Answer Question
    Declined Offer
    Positive Experience
    Average Interview

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