EY Interview Preparation and Recruitment Process

About Ernst & Young(EY)

Ernst & Young, commonly known as EY, is a multinational professional services network headquartered in London, United Kingdom. It is one of the "Big Four" accounting firms, alongside Deloitte, KPMG, and PwC. EY operates as a network of member firms under Ernst & Young Global Limited, a UK company limited by guarantee, with each member firm being a separate legal entity.

EY Interview Questions

General Overview:

Full Name: Ernst & Young Global Limited
Commonly Known As: EY
Founded: 1989 (merger of Ernst & Whinney and Arthur Young & Co.)
Headquarters: London, United Kingdom
Type: Private (Structured as a network of member firms)
Employees: Over 400,000 globally (as of 2024)
Presence: 150+ countries

Key Services

* EY provides a wide range of professional services, organized into four main service lines:

* Assurance: Includes auditing, financial reporting, and risk management to ensure trust in financial statements.

* Tax: Offers tax planning, compliance, and advisory services to optimize client tax strategies.

* Consulting: Covers areas like cybersecurity, cloud computing, digital transformation, AI, and business process optimization.

* Strategy and Transactions: Focuses on mergers and acquisitions (M&A), corporate finance, and strategic advisory, with its strategy arm now under the EY-Parthenon brand.

* EY also provides specialized services such as sustainability consulting, data analytics, and technology-driven solutions, serving industries like financial services, healthcare, technology, automotive, and government.

History

EY’s origins trace back to 1849 with the founding of Harding & Pullein in England. Key milestones include:

* 1894: Renamed Whinney, Smith & Whinney after Frederick Whinney’s son joined.

* 1903: Alwin C. Ernst founded Ernst & Ernst in Cleveland, Ohio.

* 1906: Arthur Young established Arthur Young & Co. in Chicago.

* 1979: Ernst & Ernst and Whinney, Smith & Whinney merged to form Ernst & Whinney.

* 1989: Ernst & Whinney merged with Arthur Young & Co. to create Ernst & Young.

* 2013: Rebranded from Ernst & Young to EY, adopting the tagline “Building a better working world.”

Global Presence and Culture

EY operates in three major geographic areas: Americas, EMEA (Europe, Middle East, Africa), and Asia-Pacific, with significant offices in cities like New York, London, São Paulo, and Beijing. The firm emphasizes a purpose-driven culture, focusing on sustainable and inclusive economic growth. It has been ranked on Fortune’s “100 Best Companies to Work For” list for 27 consecutive years, though it has faced scrutiny for work culture and long hours during busy seasons.

Recent Developments

* Technology and AI: EY has integrated advanced AI into its assurance platforms and formed alliances, such as with Confluent, to enhance real-time data insights for clients.

* Sustainability: EY’s Climate Change and Sustainability Services (CCaSS) teams assist clients in meeting environmental goals.

* Layoffs and Restructuring: In 2023, EY laid off dozens of partners in the U.S., particularly in advisory and strategy, to cut costs amid slowing demand.

* Controversies: EY has been linked to accounting scandals (e.g., Wirecard, Luckin Coffee) and faced a 30-month suspension by the World Bank for fraudulent practices in Somali projects.

EY Recruitment Process

Ernst & Young (EY) employs a comprehensive recruitment process designed to identify candidates who align with the firm's values and possess the requisite skills. While the process may vary slightly based on the role and location, the general stages are as follows:

1. Application Submission

Online Application: Candidates begin by submitting their applications through the EY Careers Portal.
Candidate Profile: The application involves creating a profile, uploading a resume, and answering role-specific questions.
Multiple Applications: To apply for more than one position or location, separate applications are required for each.

2. Online Assessment

Assessment Components:
- Aptitude Test: Evaluates numerical and logical reasoning skills.
- Verbal Ability: Assesses comprehension and communication proficiency.
- Coding Test (for technical roles): Includes programming questions to assess problem-solving abilities.
Purpose: These assessments gauge analytical thinking and technical competencies relevant to the role.

3. Pre-Placement Talk (Campus Recruitment)

Overview Session: For campus recruitments, EY conducts sessions to provide insights into the company's culture, values, and expectations.
Interaction Opportunity: Candidates can engage with EY representatives to understand potential career paths and ask questions.

4. Group Discussion (If Applicable)

Evaluation Criteria:
- Communication Skills: Clarity and articulation of thoughts.
- Teamwork: Ability to collaborate and respect diverse viewpoints.
- Problem-Solving: Approach to addressing the given topic or case study.
Note: This round is more common in campus placements and may not be part of all recruitment processes.

5. Technical Interview

Discussion Points:
- Academic Projects: In-depth discussion on projects undertaken during studies.
- Technical Knowledge: Questions related to programming languages, data structures, algorithms, databases, and system design.
- Problem-Solving: Scenario-based questions to assess analytical thinking.
Preparation Tip: Review core subjects and be ready to demonstrate coding proficiency.

6. HR Interview

Focus Areas:
- Cultural Fit: Alignment with EY's values and work culture.
- Behavioral Questions: Situational questions to understand past experiences and reactions.
- Career Aspirations: Discussion on long-term goals and motivation for joining EY.
Common Questions:
- "Why do you want to join EY?"
- "Describe a challenging situation and how you handled it."
- "What are your strengths and areas for improvement?"

7. Offer and Onboarding

Offer Letter: Successful candidates receive a formal offer detailing role, compensation, and other specifics.
Onboarding Process: Includes orientation sessions, documentation, and integration into EY's work environment.

Eligibility Criteria for Freshers

Academic Performance:
- Minimum 80% in 10th and 12th standards.
- Minimum 7 CGPA in undergraduate and postgraduate studies.
Backlogs: No active backlogs at the time of application.

Preparation Tips

Technical Proficiency: Strengthen understanding of core subjects and practice coding problems.
Mock Interviews: Engage in practice interviews to build confidence and receive feedback.
Research: Understand EY's services, recent projects, and organizational culture.
Behavioral Questions: Prepare structured responses using the STAR (Situation, Task, Action, Result) method.

EY Interview Questions :

1 .

What is object-oriented modelling?

Object-oriented Modeling (OOM) is an approach that involves the application of OOPs concepts for different stages of software development. In this approach, we think of solutions in terms of real-world problems using models. The main aim of this approach is to reduce the semantic gap between the system and the real world. It is often used to test the entity before we actually start creating it. It is also helpful in coordinating with the customers. This approach finds application in creating less complex projects to improve their performance.

2 .

Define RDBMS.

An acronym for relational database management systems, it is based on the relational model that E.F. Codd first introduced. It is one of the most popular and commonly used databases. It is a collection of programs allowing the IT team to interact with the relational database. It enables them to create, store, update and administer the database.

3 .

What is intercompany reconciliation?

Reconciling transactions between two legal companies is known as intercompany reconciliation. These two companies are part of the same corporate umbrella. In this transaction, one subsidiary serves as the consumer and the other as the seller.

4 .

What do you mean by amortization and impairment?

The term impairment is usually associated with long-term intangible assets that have drastically reduced their market value. Amortization is the method of paying off a debt over a while by making periodic payments to reduce the value of an intangible asset.

5 .

Who were your favorite professors? Why?

I've had several excellent professors, but there is one in particular that I will never forget from my first year. I was not too fond of maths. When I arrived at the class, though, it no longer felt difficult. It was the nicest class I'd ever taken, and I still remember the professor.

6 .

What is the securities transaction tax?

It is a direct tax that the central government collects. The government collects this on the gains and profits made on the domestic stock exchange, such as shares, futures, and options.

7 .

What is the difference between primary key and foreign key?

Below are some of the key differences between primary key and foreign key –

* The primary key is used to identify a record with respect to a table, and the foreign key is basically the columns in the table with the primary key of that table.

* The primary key ensures that the data in each column is unique. A foreign key is a group of columns that connects data between two tables.

* One primary key is responsible for a table, whereas more than a foreign key can be there.

* The primary key contains both unique and not-null constraints. A foreign key can have duplicate values.

8 .

What is meant by the interface?

Interface in computing refers to the blueprint for a class. The interface is a way to achieve abstraction using variables and abstract methods but without the method body.

9 .

What is a transparent DBMS?

A transparent DBMS refers to the distribution of information in a way that keeps its physical structure hidden from the users.

10 .

What is a deadlock?

In computing, deadlock refers to a situation where more than one process is blocked because each process holds a resource that, in turn, is required by another ongoing process. Let us see a real-world example to understand this clearly. Imagine two trains that need to pass through a railway station in the opposite direction. Each train has to wait for the other one to pass, and none of them can go across the other one.

11 .

Where do we generally create an index?

When the table is created in the database, then the index is usually created at that time. To create an index in MySQL, you can use this statement –

mysql> CREATE TABLE t_index
( column1 INT PRIMARY KEY, column2 INT NOT NULL, column3 INT NOT NULL, column4 VARCHAR(20), INDEX (column1,column2) );

Here, the table has an index that holds two columns – column 1 and column 2.

Now, to add the index to the table, use the following –

mysql> 
CREATE INDEX [index] ON [table] (column)

12 .

Do you enjoy doing independent research?

I enjoy conducting my research, but I also value the advice of individuals who have more experience. I had to undertake a team project during my internship, and one aspect of the project required me to write about accounting. Since accounting is not my expertise, I approached my teammates, and we solved the problem together.

13 .

Do you think BCNF is better than 2NF & 3NF? Why?

Yes, BCNF is superior to 3NF and 2NF because BCNF is a more powerful kind of normalization than 3NF and 2NF.

14 .

Differentiate between abstract class and interface.

Abstract Class	Interface
Abstract class can contain abstract as well as non-abstract methods.	An interface can contain abstract methods only.
Abstract class doesn’t support multiple inheritances.	There is a way using which multiple inheritances are possible through an interface.
An abstract class can provide the implementation of the interface.	An interface cannot provide the implementation of the abstract class.
An abstract class can contain static and non-static, final and non-final members.	An interface can contain final and static variables.

15 .

What is the difference between primary key and foreign key?

Primary Key	Foreign Key
Primary key ensures that data in the specific column is unique.	Foreign key is a column or group of columns used to link between data present in two tables.
One primary key is possible for a table.	More than one foreign key is possible for a table.
The primary key value cannot be null.	Primary key values can be null.
It is used to uniquely identify a record in relation to or table.	It refers to the column in a table that is the primary key of that table.
Unique and not-null constraints together make the primary key.	It can contain duplicate values.

16 .

Explain the need for a lock and also explain the difference between a shared lock and an exclusive lock?

To ensure the isolation of property holds in transactions, we need to make sure that data items be accessed in a mutually exclusive manner. It basically means that when one transaction is accessing a data item then no other transaction can make changes to that data item.

Thus, to fulfil this requirement, we can allow transactions to access the data item only if it holds a lock on that item.

Shared lock vs Exclusive lock:

Shared lock	Exclusive lock
It allows read-only operation.	It allows ready and writing operations.
Protect others from updating the data.	Protect others from reading as well as updating the data.
There is no limitation on the number of transactions that can hold a shared lock on an item.	Exclusive lock can be held by only one transaction
A shared lock is requested using a shared lock operation.	An exclusive lock is requested using exclusive lock operation.

17 .

What are the advantages of using the stored procedures?

A stored procedure is a set of SQL statements created to perform one or more DLM operations within a database. This enables users to use them as many times as they want later. The syntax for creating stored procedure is :

CREATE PROCEDURE name_of_the_procedure
AS
sql_statement
GO;

Here are some advantages of stored procedures :

* Improved productivity: Since the same code can be used multiple times, again and again, this results in improved productivity.

* Security: It is easy to secure or restrict access to the data by allowing only certain users with privileges to access stored procedures.

* Easy maintenance: It is very easy to maintain stored procedures on a server than that of its replica on the client system.

* Improved performance: Stored procedure and only compiled once and then stored safely to be used later. It is very quick to execute them, which leads to improved performance.

18 .

Why is DML provided?

Data manipulation language (DML) represents a collection of languages that are specifically used to modify databases. DML is provided for manipulating and processing databases using common operators such as INSERT, SELECT, UPDATE, DELETE, and so on.

Frequently Asked Questions

How do I prepare for the EY interview?

Practice mock interviews beforehand to ensure that you have a good grasp of the subject in less time. As the interview gets started, stay humble and listen carefully while building a rapport with the interviewers. Also, ask relevant questions that show your interest in the company’s culture and job role.

Is the EY interview difficult?

The EY interview process can be moderately difficult or rigorous, so to say. It comprises various rounds that aim to test the candidate’s mental, verbal, reasoning, and coding abilities.

How many rounds of interviews does EY have?

At EY, there are typically three rounds of interviews, including one to two phone interview rounds and one in person. The entire process may take up to 2 months.

How many stages are in the EY interview?

Typically, there are three to four stages in the EY interview process. The first two to three rounds are telephonic, while the last stage of the interview involves a face-to-face round. This is the HR round and involves discussions around salary and perks.

Why should EY hire me?

You should highlight your strengths and capabilities to give the interviewers a good reason to hire you. You can also talk about your previous work experiences and projects that make you excited to stand out.

How many people pass EY final interview?

A massive percentage of people, about 80%, fail to pass the EY final interview round. It is said that around 10 to 20% of candidates make it through the final round of interviews.

How long is EY hiring process?

Roughly, it takes about 6 weeks for the entire hiring process to complete.

How difficult is getting into EY?

Getting into EY is not an easy feat. It is reported that over 2 million applications are received by EY every year. Previous candidates have rated their job interview experience 3 out of 5, with 5 being the highest difficulty level.

How long does it take to get an offer from EY?

It depends on the interview rounds and how soon they decide on your candidature. It normally takes anywhere between 4 to 7 working days to hear from EY after all your interview rounds are done.