I failed a technical test because I used a slightly different formula for WACC than the firm's specific internal template. My math was right, my logic was sound, but because I didn't do it their way, they treated me like I’d never seen a spreadsheet before. Are they just checking for total compliance to their specific brand of correct? Are we hiring analysts or are we hiring parrots?

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No, I believe it would be non technical reasons. No one would ever reject you if you came to right answer via different method if you can give your reasoning and was sound. It’s a tough world out there, stop beating yourself up on one rejection. It’s ok. Focus on the questions which you think you didn’t answer well or could have articulated better.

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Did they give you the formula to use?

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Agree with the previous commenter. You were rejected for other reasons that went beyond technical ability

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