Assessment Centre for TS Roles: How to Prepare

Many Big 4 and larger advisory firms use assessment centres as part of their Transaction Services recruitment process. Unlike a standard interview, an assessment centre runs multiple evaluations in a single day — often including a written case study, a group exercise, a technical interview, and a competency-based discussion. Knowing what to expect at each stage is half the battle.

What a TS Assessment Centre Typically Includes

Written Case Study

This is usually the centrepiece. You are given a set of financial information — often a simplified data pack or management accounts — and asked to produce analysis within a set time, typically 45 to 90 minutes.

Common outputs requested:

• An EBITDA bridge or normalisation schedule
• A net debt summary
• A list of key due diligence findings or red flags
• A memo-style summary of your conclusions

Examiners are not just assessing your answer — they are looking at how you structure your thinking, prioritise material issues, and communicate under time pressure.

Group Exercise

Not every firm includes this, but when they do, it usually involves a case scenario where the group must reach a recommendation together. Assessors watch for:

• Whether you contribute substantively, not just socially
• How you handle disagreement
• Whether you listen and build on others' points
• Whether you demonstrate commercial awareness

Avoid dominating the conversation or going silent. The goal is collaborative leadership.

Technical Interview

Expect direct questions on EBITDA adjustments, working capital, net debt, and the FDD process. At assessment centre level, interviewers probe further than at early-stage screening calls. Be ready to defend your positions and discuss edge cases.

Competency Interview

Standard questions include: a time you identified a material financial issue, how you managed a tight deadline, and how you handled a difficult stakeholder. Prepare structured answers using a situation-action-result format.

How to Prepare Effectively

In the weeks before:

• Study the full FDD workflow: what happens at each phase, who does what, and what the deliverables look like.
• Build fluency on EBITDA normalisation — know the categories of adjustments and be able to construct a bridge quickly.
• Practise written case studies under timed conditions. Speed matters.

In the days before:

• Research the firm: recent transactions, sector focus, team structure.
• Review your CV and prepare concise stories for each key experience.
• Practise mental arithmetic — quick percentage calculations, margin movements, year-on-year changes.

On the day:

• Structure everything you write. Headings, bullet points, a clear conclusion.
• In group exercises, add value early but listen carefully.
• If a technical question stumps you, talk through your reasoning rather than guessing silently.

What Separates Strong Candidates

The candidates who succeed in TS assessment centres are those who combine technical precision with clear, structured communication. They do not just identify an issue — they explain why it matters for a buyer, what the deal impact might be, and what further information they would request.

Our training programme includes 8+ case studies built around realistic data room scenarios, giving you the practice reps you need before the assessment centre. Full access for a one-time fee of €119.99.