[PwC Edge Graduate Program SEA - Deals] How should I prepare for my M&A group case interview

Hi there,

Congrats on making it through — that's not easy!

Let me take your three questions in order.

1) Group work: The goal isn't to be the loudest person in the room — it's to be the one who makes the group smarter. Listen actively, build on what others say, and be the person who synthesises when the discussion gets scattered. If you disagree with someone, do it with a reason and diplomatically. PwC Deals is a team sport at its core. They want to see you collaborate, not perform.

2) Technical depth: You don't need to be a Wall Street analyst. Know your DCF and NPV cold — not just how to calculate them, but why they're used and what drives value in the model. Know EV/EBITDA and why it's preferred over P/E for M&A. On the strategy/consulting side: commercial due diligence mindset, market attractiveness, deal rationale end-to-end. PwC will value both. In my experience: if you can walk through a real M&A deal intelligently from rationale to integration, you'll be well above most candidates in the room.

3) Structure: PwC Deals tends to feel less "case-y" than pure strategy firms. Think scenario-style: "here's a deal situation, walk me through your thinking" rather than a formal 30-minute structured case. Read the room — don't force a framework if they're going conversational.

For prep:

• Practice M&A/DD cases: https://www.preplounge.com/en/management-consulting-cases?language=en&topic[]=1&topic[]=19
• Pick a recent deal and be able to discuss it end-to-end (rationale, valuation logic, integration)
• My end-to-end 360 Degree Course covers the full interview journey: https://www.preplounge.com/en/shop/prep-guide/consulting_recruiting_course

Also — I have some M&A-specific content coming to the course shortly, so stay tuned on that.

For the broader mindset and strategic thinking: search The Consulting Offer Blueprint on Spotify or Apple Podcasts — goes deep on exactly this kind of prep.

Good luck!

hey there :)

For these PwC Deals workshops the focus is usually less on technical depth and more on how you think and collaborate. In the group part, the best way to show you’re a strong team player is to contribute structured ideas, build on what others say, and help the group move toward a clear answer rather than dominating the discussion. Simple things like summarizing the group’s ideas or suggesting the next step often stand out positively.

On the technical side, you don’t need very deep valuation knowledge. It’s enough to understand the basics of DCF, multiples, and how companies think about acquisitions. PwC is usually more interested in whether you can analyze a business situation logically and communicate clear insights rather than doing complex finance calculations.

The structure is typically a short briefing of a deal situation, group discussion or workshop, and sometimes a short presentation of your recommendation. Preparing by practicing structured thinking, reading a bit about the M&A process, and being comfortable discussing business cases is usually the best preparation.

best,
Alessa :)

On group work: avoid two traps, dominating the discussion or staying too quiet. What stands out is someone who moves the group forward:

• Build on what others say, do not just push your own view
• Flag when the discussion is going in circles
• Help the group land on a conclusion before time runs out
• Watch the clock. Be the person who flags when time is running short. Assessors notice that.

On technical depth: you are probably over-preparing. They are not expecting DCF models or deep valuation debates. Just know the concepts well enough to use them naturally in conversation. The strategy and problem-framing side matters more here. Think commercially, not like a finance analyst.

On structure: the format is usually:

• Read a business scenario individually
• Discuss as a group
• Sometimes present findings at the end

Go in ready to engage with your group, not just deliver your own prepared analysis.

You sound well prepared. Trust that and focus on being genuinely useful in the room.

Congrats on reaching the M&A scenario workshop – that's a significant milestone. For group cases like these, the biggest differentiator isn't necessarily being the smartest person in the room, but rather how you engage. They're looking for a future colleague who can collaborate effectively. Focus on active listening, asking clarifying questions to move the group forward, suggesting a clear structure for problem-solving, and actively bringing quieter team members into the discussion. It's about collective success, not individual heroics.

Regarding technical depth for a grad program, they aren't expecting you to be a seasoned M&A banker. You're applying for an Edge program. The key for M&A and valuation is demonstrating a foundational understanding of the purpose behind different methods and when to apply them, rather than perfect calculations. Knowing the high-level M&A lifecycle and common deal drivers is more important than memorizing every nuance of a specific DCF. For business strategy, show you can break down a problem logically and consider different angles, which is the essence of 'consultancy style analysis.' The exact structure will vary, but generally, expect a prompt, group discussion/analysis, and often a short presentation of your findings.

So while your technical prep on M&A lifecycle and valuation is valuable, think about how you'd explain these concepts simply and integrate them into a group discussion. The workshop is designed to see your raw aptitude and teamwork under pressure. Prioritize clear, structured communication and genuine collaboration. You've clearly got the academic chops, now demonstrate you can apply them in a team.

All the best!

Hi there, 

Happy to share a few suggestions

1 - try to get in touch with candidates who went through the interview before. This will help you build a better understanding of how the process goes and what to expect

2 - with group work, it's key to strike a healthy balance between being a leader, a facilitator and a contributor. That means you should take the lead when you genuinely feel you can contribute with something valuable, pull others into the process to improve the solution your working on and acknowledge their contributions. 

Best,

Cristian