Job Search: Interview Questions New Grads Should Ask and Answer

Remember when your cool but quirky philosophy professor encouraged classroom discussion by declaring at the outset, "There is no such thing as a stupid question." Well, he was wrong.

For new graduates in the job market, there are zillions of stupid questions. Interviewing at a bank, for example, you wouldn't want to ask, "Does this bank originate jumbo mortgages?" That's a dumb question; you should know the answer going in. On the other hand, you might well ask, "Given the weak housing market, is the bank looking to cut back on its jumbo exposure?" The interviewer will remember who asked that question, guaranteed, and being remembered is what it's all about.

Avoiding dumb questions -- and asking smart ones -- requires homework. Search the web. Speak to people in the industry. Read a trade magazine. In short, know a company's products and the kind of advertising it does; be aware of any new big initiatives and recent top-level management changes. Understand the impact that general economic trends are having on its business. Asking one or two (don't overdo it) smart questions will show that you are serious and leave a favorable impression.

If that sounds like a lot of work, well, it is. But this is research you should do anyway to be ready for what interviewers may ask you. Job interviews with new grads have gotten a lot tougher in recent years, according to the Clay Center at Villanova School of Business. In job interviews held on campus this spring, the school says that employers were probing for below-the-surface knowledge of their company and industry, and a high level of interest from new-grad job candidates. The students didn't get a lot of softball questions like, "Tell me a little about yourself." Many of the questions were pointed and specific to the job at hand, and let's just say that it wasn't likely to work out for students who said, "Let me think about that and get back to you."

For a flavor of what you might expect as you hit the job market this year, here is a sampling of questions that the Villanova B-school grads were asked.

Interviewing with a financial services company:

• What are the top stories in today's Wall Street Journal? Which article is most interesting to you and why?
• What is the European Debt Crisis?
• Give me a stock pitch for 3 companies.

Interviewing with a fashion marketer:

• What are the big clothing trends this season?
• What is the most fashion-forward piece of clothing you own?

Some general questions:

• Tell me about a time when you worked in a group and someone didn't pull their weight. How did you handle it?
• Tell me about a time when you couldn't accomplish a project on time. How did you handle it?
• Tell me about an assignment you were given that you didn't feel comfortable with and how you handled it.
• Tell me about a time you faced adversity from an adult or leader and how you handled it.
• Name three people you'd take to dinner and why.
• Tell me about a process that you streamlined to make more efficient and how it benefited the overall cause.

The job market for new grads is improving, but still very tough. The bar has been raised for getting past the interview and to an offer. As always, you'll need to bring passion and enthusiasm to the interview. But you'll also need to bring some real knowledge of the company that is considering you and the position you are seeking. The last thing you want to do is ask a dumb question. But the bigger risk may be offering a dumb answer.

Photo courtesy Flickr user usfbps
More on MoneyWatch:

• 7 Must-Have Tools for New Graduates
• Acing the Job Interview
• How to Get a Big Raise: 5 Steps to the Pay You Deserve
• 8 Ways for Kids to Find a Summer Job
• How to Answer the 5 Toughest Interview Questions You'll Face

Dan Kadlec

Daniel J. Kadlec is an author and journalist whose work appears regularly in Time and Money magazines. He is the former editor of Time’s Generations section, which was written and edited for boomers. Kadlec came to Time from USA Today, where he was the creator and author of the daily column Street Talk, which anchored the newspaper's business coverage. He has co-written three books, including, most recently, With Purpose: Going from Success to Significance in Work and Life. He has won a New York Press Club award and a National Headliner Award for columns on the economy and investing.

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