Getting hired at StepStone Group, a leading private markets investment firm, is highly competitive With over $5 billion in assets under management, StepStone serves some of the most sophisticated institutional investors around the globe
Landing a job here requires thorough preparation and insight into their interview process. In this article, we’ll provide an overview of StepStone, their interview practices, sample questions, and tips to help you ace your StepStone interview.
Overview of StepStone Group
Founded in 2007 StepStone Group is a global private markets firm providing customized investment and advisory solutions to institutional clients. They manage over $500 billion of private markets allocations across real estate private equity, infrastructure, and private debt.
StepStone has over 650 employees across 19 offices worldwide. They take a highly selective, research-driven approach to investing and focus on collaborating closely with clients.
Some key facts about StepStone:
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Headquartered in San Diego, CA with offices in Beijing, Dublin, La Jolla, London, New York, Perth, Santiago, Seoul, Tokyo, and other global cities.
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Over 650 employees worldwide.
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Approximately $5 billion in assets under management.
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Focuses on customized private markets solutions across real estate, private equity, infrastructure, and private debt.
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Clients include pensions, endowments, foundations, family offices, and development finance institutions.
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Takes a research-driven, high-touch approach to investing. Significant focus on proprietary research and portfolio construction.
StepStone’s Interview Process
StepStone’s interview process typically consists of 1-3 rounds depending on the role:
For Interns:
- 1-2 video/phone interviews focused on behavioral and fit
- Potential written case study or skills assessment
For Full-time Positions:
- 1-2 phone/video interviews focused on behavioral questions
- Written case study and/or technical skills assessment
- 2-3 rounds of final in-person interviews (combination of behavioral, technical, and case interviews)
The overall process lasts 1-2 months from initial application to final decision. StepStone assesses candidates on technical skills, investment acumen, creativity, and cultural fit.
Here’s a breakdown of what to expect for each round:
Video/Phone Interviews
Initial screening focused on your resume, background, StepStone’s culture, and overall interest in the role. Questions may cover:
- Why StepStone? Why the specific role you applied for?
- Walk me through your resume and past experiences.
- Behavioral questions on your leadership, collaboration skills, overcoming challenges, etc.
Written Case Study / Skills Assessment
Tests your quantitative, analytical, and problem-solving abilities. Expect Excel modeling tests or written case questions focused on analyzing investments, financial performance, presentations, etc.
Final In-Person Interviews
Assesses overall fit through a blend of technical, behavioral, and case-style interviews. Talks with multiple people from the team – MDs, principals, VPs, associates, and analysts.
- Technical questions on valuation, modeling, portfolio construction, and StepStone’s business.
- Behavioral questions focused on work style, leadership, teamwork, etc.
- Case interviews simulating real investment scenarios. Prepare to walk through analyses, financial models, presentations, and recommendations.
Sample StepStone Interview Questions
Here are some common StepStone interview questions to expect:
Behavioral Questions
- Walk me through your resume. What stands out the most and why?
- Why are you interested in StepStone and this role?
- Describe a time you faced a challenge on a project. How did you overcome it?
- When working on a team project, what role do you usually take on?
- How would your managers describe your work style?
- Tell me about a time you disagreed with a team member. How was it resolved?
- What are your career goals 5-10 years from now? How does this position fit within those goals?
Technical & Markets Questions
- What valuation methodologies are you familiar with? Walk me through how a DCF analysis works.
- What factors influence the value of a private company?
- How do you assess market cycles and their impact on an investment?
- What can affect dividend yield and P/E multiples for a public stock?
- How would changes in interest rates impact valuations for a real estate property?
- How do you factor macroeconomic conditions into investment underwriting?
Case Interview Questions
- How would you approach evaluating an infrastructure investment opportunity? Walk through your process.
- Review this private equity portfolio company and analyze its performance. Is it a good investment? Explain your view.
- We’re considering investing in a retail shopping center. Outline your approach to underwriting this deal. What factors would you assess?
Modeling Questions
- What are some best practices in Excel modeling?
- Pick any company and walk me through how you would build a 3-statement model to analyze it.
- Here is an error in this model – talk through how you would debug it.
Tips for Acing Your StepStone Interview
Here are some top tips for interview success at StepStone:
Show Deep Interest in StepStone
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Research their strategies, investments, business model, and culture. Have informed opinions on where they excel as a firm.
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Know the specific group and role you are interviewing for. Tailor your background to be relevant.
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Ask thoughtful questions – avoid anything easily found online. Show initiative.
Demonstrate Technical Excellence
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Brush up on valuation, accounting, modeling, Excel – core finance skills are essential.
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Be ready to walk through analyses and models. Use cases to showcase technical acumen.
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Apply concepts to real companies and deals. Go beyond just textbook knowledge.
Highlight Research Skills
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StepStone emphasizes proprietary insights – showcase research abilities like analyzing markets, industries, deals, macro trends, etc.
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Develop original perspectives backed by data. Balance creativity with rigor.
Prepare for Behavioral Questions
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Use the STAR method (Situation, Task, Action, Result) to demonstrate analytical thinking and leadership principles.
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Choose examples relevant to investing, teamwork, problem-solving, communication, and ethics.
Practice Mock Interviews Extensively
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Rehearse your answers, body language, style out loud. Refine based on feedback.
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Do multiple rounds of practice across technical, behavioral, and case formats.
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Put yourself in the interview hot seat to build confidence and fluidity.
Align to StepStone’s Culture
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Understand their collaborative, research-driven, client-centric culture. Prepare examples that reflect these values.
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Highlight your curiosity, initiative, work ethic, attention to detail.
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Emphasize willingness to learn and contribute meaningfully.
Inside Perspectives on StepStone Interviews
Here is actual feedback on StepStone interviews from current and former employees:
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“Interviews were straightforward with a mix of technical finance questions and behavioral scenarios about working on a team. Came across as more of a conversation than a tough interrogation.”
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“They evaluate your problem solving abilities more than technical knowledge. Expect cases on analyzing investments or deals where you show your thought process.”
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“Be ready to walk through an LBO model or DCF analysis. Brush up on accounting, valuation, Excel – you need to be sharp technically.”
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“The associates did most of the interviewing. They seemed very intelligent but friendly and down-to-earth.”
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“The written case portion was very rigorous and quantitative. Tested Excel modeling along with written analyses.”
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“Interviews focused a lot on collaboration, leadership, culture fit – people skills are just as important as raw finance skills.”
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“They want candidates eager to learn and contribute. I highlighted my ambition, work ethic, and team orientation.”
Getting Hired by StepStone Group
Landing a coveted role at StepStone Group takes rigorous preparation and a strategic approach. While challenging, their interview process is also highly structured – allowing you to practice core techniques and responses.
By mastering the technical skills, demonstrating passion for StepStone’s mission, and aligning your background to their culture, you can maximize your chances of interview success. Use the insights in this article to gain a key advantage in the competitive StepStone hiring process.
With meticulous interview practice and a focus on showcasing your research capabilities, business acumen, leadership fit, and intrinsic motivation, you can better position yourself to excel through their recruiting approach and unlock opportunities at this prestigious firm.
StepStone GroupPrivate Equity
Based on the Interview Insights at this company, the Interview Experience is a score between 1 star (very bad) and 5 stars (very good).
The number in the middle of the doughnut pie chart is the mean of all these scores. If you move your mouse over the different parts of the doughnut, you’ll see exactly how each score was calculated.
The title percentile score is based on an adjusted score based on Bayesian Estimates that is applied to the whole Company Database. This is done to account for companies that don’t have many interview insights. The confidence in a “true score” rises as more reviews are given about a business. This causes the score to move closer to its simple average and away from the average of the whole dataset. 3. 7.
Based on the Interview Insights at this company, the Interview Difficulty is a score that goes from “very difficult” (red) to “very easy” (green).
The number in the middle of the doughnut pie chart is the mean of all these scores. The higher the number, the more difficult the interviews on average. This doughnut has different parts that, when you move your mouse over them, show you the 20% breakdown of each score given.
The title percentile score is based on an adjusted score based on Bayesian Estimates that is applied to the whole Company Database. This is done to account for companies that don’t have many interview insights. That is, as a business learns more, it becomes more sure of a “true score,” which moves it closer to its own simple average and away from the overall average of the data set. 2. 8.
Based on reviews at this company, the 20% of interns getting full-time offers chart is meant to give you a good idea of how the company hires people.
The number in the middle of the doughnut pie chart is the mean of all these scores. This doughnut has different parts that, when you move your mouse over them, show you the 20% breakdown of each score given.
It uses an adjusted score based on Bayesian Estimates to account for companies that don’t have many reviews, which is how the percentile score in the title is found. To put it simply, when a business gets more reviews, the “true score” becomes more likely to be accurate. This makes it move closer to the simple company average and away from the average of all the data points. 35%.
GROUP INTERVIEWS! How to PASS a Group Interview!
FAQ
Why work for StepStone Group?
What is a group process interview?
How to answer tell me about yourself in an interview?
What questions are asked during a stepstone interview?
30-minute interview screening with head of recruiting team at StepStone, brief catchup before moving on to a series of behavioral questions, including walk me through your resume, why private equity, why stepstone. 1. Walk me through your resume 2. Why are interested in private equity 3. Why are interested in stepstone group 4.
What is the interview process like at StepStone Group?
On Glassdoor, you can share insights and advice anonymously with StepStone Group employees and get real answers from people on the inside. 4 rounds of behavioral questions with various levels around the firm. Some technical parts of the interview experience and a writing sample towards the end of the process. Overall very fair process
How long was the interview at StepStone Group (Zürich)?
I interviewed at StepStone Group (Zürich) The interview lasted 2 hours with 7 different people. Each of them had specific questions depending on their team and expertise. Most of the question were related to private markets and private debt to get an overview of my knowledge. I applied online. The process took 6 weeks.
What was the first round of a StepStone Group interview?
First round was a laidback Zoom call with two of their recruiters from San Diego. Mostly behavioral questions and walk me through your resume type stuff. StepStone Group interview details: 30 interview reviews posted anonymously by StepStone Group interview candidates.
