I applied through college or university. I interviewed at Capital One in Nov 2013
Interview
During the on-site interview, there are 2 cases about credit card. Familiarity with the profitability model of credit card is definitely helpful. The behavior questions focus more on the adverse or difficult situation you've met and how you deal with it.
Interview questions [1]
Question 1
There is a question about drawing the same profitability curve in the x-y axis. Cannot remember the specific setup, but a review of utility curve is very helpful.
I applied through college or university. The process took 3 weeks. I interviewed at Capital One (Richmond, VA) in Nov 2013
Interview
Applied through university job services, was asked to interview on campus. First interview was a case interview and it was easy and very straightforward. It was essentially just to see if you are competent. Then I interviewed at Capital One and had 2 more case interviews (much more difficult) and one easy behavioral interview.
Interview questions [1]
Question 1
One of my case interviews dealt with loans that Capital One gives out and finding the most profitable situations for the company based on a bunch of assumptions.
I applied through college or university. The process took 1+ week. I interviewed at Capital One (Richmond, VA) in Apr 2014
Interview
The interview process, in my situation, was broken down into two stages. The first round consisted of an over-the-phone, case study interview, which was fairly straightforward and pleasant. The second round consisted of 3 separate interviews conducted in Richmond Virginia. I was given a behavioral interview first and then 2 separate case interviews.
The behavioral portion was very straight forward and relatively short. You're asked three questions about situations in your life where you had to do "x" or deal with "y." After you share your experiences, the interviewer will ask you a series off follow up questions where you'll have to elaborate.
The two cases, again in my experience, differed dramatically in difficulty, and candidates are given different cases along with different interviewers. The first case was fairly straight forward though I made a major error at the end--mistakenly assumed that the cost was fixed when it was actually variable.
The second case was much more difficult and the interviewer, who was clearly an extremely intelligent individual, was not very accommodative. My theory is that if your first case is shaky, then they give you a more difficult follow up case as an opportunity to redeem yourself.
All in all, Capital One was very professional throughout the whole process. They provide you with the transportation, put you up in a very nice hotel and allow you to spend $100 of their money during the trip. They also give you a free, all you can eat lunch after the interview.
Interview questions [2]
Question 1
The first case was fairly straight forward:
(1) Asked to calculate bank profitability with a given interest rates on deposits, a fixed reserve ratio, an interest rate on loans and a fixed fee value.
(2) Tasked with assessing the viability of a marketing proposal where you're expected to introduce the idea of a market test.
(3) Values are given for the market test and you're asked to calculate the profitability of the bank if the marketing plan was implemented.
(4) Go-no/go decision at the end.
The second case was much more complex:
(1) Qualitatively analyze two different online application methods--their potential strengths and weaknesses.
(2) You're given values and asked to determine which method is more profitable.
(3) You're asked to determine if the relationship between the two methods and their respective profit rates are contingent on volume.'
(4) Different values are given to you in which case it becomes evident that the profitability of each method varies with volume.
(5) You're asked to explain the situation qualitatively--why profitability is changing with volume for the two methods.
(6) You're asked to quantitatively determine the volume at which there's a shift in profitability between the two measures.
(7) If you're unable to immediately set up the system of equations, the interviewer will ask you to draw out the relationships on a graph.
(8) You're asked to determine whether the relationships are linear or nonlinear. If you draw the relationships correctly, you're supposed to be able to determine how to set up the system of equations.
(9) Once you figure out the value for Q where the profitability of the two options shift, you're asked to determine a strategy over a specific period of time where you know, before the fact, what the volume will be.