EY Parthenon-Associate-Recruitment-Candidate-Case-Prep-Pack

EY-Parthenon Associate Recruitment
Candidate Case Preparation Pack

Draft for discussion – Reliance restricted
Agenda
► Tips and Guidelines
► Practice Cases (Candidate Copy)
► Practice Cases (Interviewer Copy)
► EY-Parthenon FAQs
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Tips and Guidelines
Recruitment calendar: Applications for full-time associate roles open at the end of
August with the final deadline for applying on 31st Oct
FT Applications Summer Applications

Open 31 Aug Open 1 Nov
August September October November December January February
Full Time Associate

On-campus
Summer Associate1
events
CV Screening
Interviewing
First Round Interviews Final Round Interviews
► 25 min case study ► 35 min case study

interview (x2) interviews (x2)
discussions led by
interviewer ► Followed by Partner
interview
► Followed by mentor
coffee
1) Follow a similar interview process (i.e. 2 rounds) to the Full Time Associate role
Tips and Guidelines

What is a Case Study Interview?
What to expect?
► 1 on 1 interviews with experienced consultants

► ~25 minutes for first round (x2)
► ~35 minutes for final round (x2)
► Chance to ask questions about EY-Parthenon at the end
Market Sizing Business Case Data Dump
How to prepare?
► Preparation is key, but don’t overdo it!

► Useful links:
► Victor Cheng Case Interview Practices (on YouTube)
► Harvard Business School talks, resources, emails
► BCG Practice Interview Cases - https://www.bcg.com/careers/path/consulting/practice-interview-
cases.aspx
► ConsultingCase101 Practice Cases - https://www.consultingcase101.com/tag/free-sample-case/
Tips and Guidelines

General Tips – Case Study Interviews
1 Listen to the question and clarify the scope

– Feel free to ask the interviewer exactly what the scope / definition is e.g. for market sizing,
you could ask “is it ok to exclude commercial lights when sizing the market for light bulbs”
2 Write things down!

– Feel free to take time to think about how you are going to approach the problem and write
down your steps. Then make sure you refer back to them during the interview so you do not
miss a step
3 Talk out loud

– The interview is to test how you think and the interviewer can only see this if you talk through
how you are thinking about the problem
4 Think about different ways of approaching the problem

– Either at the start or at the end of the interview brainstorm different ways you could have
approached it e.g. bottom-up instead of top-down
5 Think about the key underlying assumptions

– As you go through the case, think about what the key assumptions are (if changed, they would
drastically change the answer). This shows that you know what is driving your final answer
Tips and Guidelines

Case Type-Specific Tips – things to look out for
► Methodology
– Structure your answer - take time to put your methodology on paper
Market Sizing
– Structure your approach in a way that makes sense for the case
► Time management
► Understand what the business does

– Ask questions regarding the products offered/revenue streams
Business Case ► Keep in mind the strategic objectives of the case
– e.g. growth and profitability
– Timeline to achieve objectives
► Time management
Data Dump ► Prioritise insights over analysis
– Synthesis findings rather than simply explaining charts
Agenda
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Cases
Advice on Case Practice: The following sections consists of two case studies for
candidates to practice and familiarise themselves with EY-Parthenon’s interview format
1 Time yourself
– The following interviews are based on cases used in previous recruitment cycles
– Please practice solving the case in the recommended time to best recreate the interview
constraints/environment to tests yourself
2 Practice with a friend

– Communication is key to succeed in a case interview, hence, we strongly recommend
practicing an interview aloud with a friend/peer
3 Think outside the box!

– The suggested answers are not exhaustive and should be used for guidance only
– While you should answer questions based on the information provided, some questions are
deliberately open-ended and showing some creativity is welcome
Agenda
► Case 1: Protein Bars (~25 mins)
► Case 2: Prison Telephony (~25 mins)
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Case 1: Protein Bars CANDIDATE COPY

Outline of case and advice to candidates
About the case: Advice to candidates:

• If you don’t understand something, please ask for
• This case is about Muscle Nutrition, a UK sports clarification
nutrition company selling protein powder, bars and • There are no ‘tricks’ here – we are trying to find out
tablets. Their main consumer base has historically what you can do, not if we can catch you out
been body builders • Take the time to think through your answer and
structure your response
• The impressive success of their recently launched • Please write down your workings clearly on the
protein bars has caught the attention of Smith and sheets of paper provided so that your interviewer
Jones Capital, a UK based Private Equity fund who can follow along
are now interested in buying the company • Please keep working through even as your
interviewer is taking notes
• Smith and Jones believe that there is potential to take • Please do not open this pack until instructed to do
Muscle Nutrition’s bars into the mainstream market so by your interviewer
and have engaged you to help them test their
investment thesis

Questions
1► How would you size the total market for protein bars in the UK?
► Please demonstrate how you would structure the market sizing
► Conduct the calculations

Questions
2► As mentioned, the PE firm are interested in the mainstream segment

of the market for protein bars. What do you think are the growth
drivers of this segment of the market?

Questions
3 Based on the data on the following slides, is there sufficient

evidence to say protein bars can go mainstream? Please summarise
in a few (3-5) bullet points.

Data
Q: What is most important to you when thinking about healthy eating?

Select and rank your top 3
40%
30
20
10
0
Low calorie Less carbs More protein Organic Nutrients added From Gluten free GMO free
a
sustainable
source
Source: Parthenon-EY Health & Wellness Consumer Survey 2015 (n=1,061)

Data
Q: What is the main occasion when you Q: What is the most important reason for
eat protein bars? you eating protein bars?
Improve energy
blood sugar
Build muscle
bars or sweets
Easy way to add

Weight loss
to chocolate
Manage
more protein
alternative
to my diet
Healthy
Source: Consumer Survey (n=1,415)

Data
Q: How often do you typically exercise per week?
For all consumers who bought the protein bar brand in the past 6 months
100%
80
60
40
I don’t usually exercise
Less than once per week
One or two times per week
20 Three or four times per
week
Five or six times per week
Every day
0
Protein Bar
Manufacturers

Data
Q: Where did you buy the [brand] bars you purchased

most recently?
60%
54%
40%
40
25%
20%
20 18%
11%
10% Average (excl. Muscle
8% Nutrition)
4% 4% Muscle Nutrition
3% 3%
consumers
0
Supermarket Specialist health Amazon Online (excl. Convenience store Other
store (e.g.,Holland Amazon)
& Barrett / Met-Rx)
% All Brands 50% 15% 12% 15% 4% 3%
Source: Consumer Survey (n=1,415) :

Data
Q: How often do you eat a protein bar? Q: Are you eating more or less protein
bars than you did in the past?
SourceConsumer Survey (n=1,415) :
Agenda
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CANDIDATE COPY
Case 2: Prison Telephony
► This case is about Calypso, a provider of phone services to prisons ► If you don’t understand something, please ask
and prisoners in Europe. The company addresses four markets: for clarification
1) Telephone systems: connects prisoners and external parties (e.g. ► There are no ‘tricks’ here – we are trying to find
relatives) through telephones made available to prisoners out what you can do, not if we can catch you out
2) Multimedia: covers media content / video-calling and messaging ► Take the time to think through your answer and
apps structure your response
3) Prisoner self-service: self-service applications for prisoners ► Please write down your workings clearly on the
sheets of paper provided so that your
interviewer can follow along
4) Lawful interception: surveillance and storing of content provided
over Calypso’s services
► Please keep working through even as your
► Calypso generates a majority of its revenues from the use of
telephone systems by prisoners, and has not yet fully rolled out all
of its products across every market ► Please do not open this pack until instructed to
do so by your interviewer
► A private equity investor is interested in acquiring a stake in the
business and has engaged EY-Parthenon to assess the market and
future growth opportunities for Calypso
CANDIDATE COPY
Market segmentation
Market segments Description Calypso’s Products Buyer
► Hallway and in-cell telephone ► Prison telephones and in-cell ► Prisoner pays per
systems providing access to phone systems use
national and international ► CalypsoConnect for collect ► Relatives pay for
calls, through landline, cell calls (collect calls are calls collect calls and
Telephone and collect calls paid for by the recipient) can fund the
systems prisoner’s account
► In-cell multimedia terminals ► Prisoner pays

which enable inmates to ► TV access, radio, DVD and
telephony monthly fee
communicate (through video
calls, video messaging and ► Multimedia content, video ► Relatives can fund
video telephony) and watch and calls and messaging the prisoner’s
Multi-media listen to music and movies account
► Self-service solutions ► In-mate self service ► Prison

delivered via in-cell terminals applications administration
which enable inmates to pays service fees
organise their prison life, ► Storage of past conversations
doctors appointments and ► Charged for on a
Self-service shopping per prisoner basis
► Provides capabilities for the ► Lawful interception ► Prison

listening in on conversations capabilities administration
and the storage of past pays service fees
conversations
Lawful ► Charged for on a
interception per prisoner basis
CANDIDATE COPY
Question 1
1► What is the size of the addressable market for Calypso’s services

within Europe (in terms of annual € revenue)?
CANDIDATE COPY
Question 2
2► What are the drivers of growth for the prison telephony market? How
do you think this market is likely to develop in Europe over the next
3-5 years?
CANDIDATE COPY
Question 3
3► Based on the data available and your own knowledge, what are the
growth opportunities for Calypso over the next 3-5 years? What are
the potential risks?
CANDIDATE COPY
Calypso’s company footprint
Calypso’s revenue by product segment (%), FY17 Calypso revenue split by geography (%), 2017
Interception services
In the Netherlands,
Self-service
Calypso generates
Multimedia ~20% of revenue with
products other than
telephone systems.
NL
14%
PL
DE 9%
27%
CZ
<1%
92.0% Telephone Systems
FR HU
28% 7% RO
8%
BG
3%
FY17
Key: = More than 10% = From 5% to 10% = Up to 5% = None
Note: IR = Ireland, UK = United Kingdom, FR = France, SP = Spain, BE = Belgium, NL = Netherlands, CH = Switzerland, DE = Germany, CZ = Czech Republic, AT = Austria, IT = Italy, EY-Parthenon | Page 25
HR = Croatia, HU = Hungary, SK = Slovakia, RO = Romania, BG = Bulgaria, PL = Poland, NO = Norway, SE = Sweden, FI = Finland
CANDIDATE COPY
Contract structure and upcoming tenders
National vs local tender organisation Commentary
► Although the majority of revenue is paid for by prisoners

themselves, Calypso contracts with prison providers to be
allowed to offer its services to prisoners, usually as a sole
provider
► A majority of contracts are won through national tenders which

have unique requirements for each country
► Tenders are lengthy and begin in advance of the actual tender

FI
NO period and typically last 3-5 years with extension options
SE
► The complexity of public tenders has resulted from mandatory

NL
requirements and a sophisticated scoring system
IR UK
PL
BE DE
CZ
SK
Upcoming National Tenders in 2018 - 2019
AT
FR CH HU
HR RO Country Contract Length
IT BG
Poland 3 years
SP
Norway 5 years
Czech Republic 4 years
Sweden 5 years
Finland 4 years
Key: = Local / regional tender = National tender
Switzerland 4 years
France 5 years
Denmark 3 years
Note: IR = Ireland, UK = United Kingdom, FR = France, SP = Spain, BE = Belgium, NL = Netherlands, CH = Switzerland, DE = Germany, CZ = Czech Republic, AT = Austria, IT = Italy, EY-Parthenon | Page 26
HR = Croatia, HU = Hungary, SK = Slovakia, RO = Romania, BG = Bulgaria, PL = Poland, NO = Norway, SE = Sweden, FI = Finland
CANDIDATE COPY
Pricing and usage patterns
Commentary Telephone Usage Data, Germany
► After being accused of charging unfairly high prices due to a

lack of other telephone options in prisons, Calypso was taken
to court in Germany and forced to substantially reduce the
prices for its telephone services
► There has been public pressure on Calypso in France and the

UK to make similar price reductions, with talks of litigation
CANDIDATE COPY
Global prison demographics
Global Prison Industry,

by Number of Inmates, 2017
100%
Calypso Customer Counties 5.0%
Rest of Europe 11.1%
80 Africa and the Middle East 11.3%
South America 14.6%

60
North America 21.8%

40
20 Asia Pacific 36.3%
0
Number of Inmates
Agenda
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Case 1: Protein Bars INTERVIEWER COPY


• If you don’t understand something, please ask for
• This case is about Muscle Nutrition., a UK sports clarification
nutrition company selling protein powder, bars and • There are no ‘tricks’ here – we are trying to find out
tablets. Their main client base has historically been what you can do, not if we can catch you out
body builders • Take the time to think through your answer and
structure your response
• The impressive success of their recently launched • Please write down your workings clearly on the
protein bars has caught the attention of Smith and sheets of paper provided so that your interviewer
Jones Capital, a UK based Private Equity fund who can follow along
are now interested in buying the company • Please keep working through even as your
• Smith and Jones believe that there is potential to take • Please do not open this pack until instructed to do
Muscle Nutrition’s bars into the mainstream market so by your interviewer
and have engaged you to help them test their
investment thesis
Case 1: Protein Bars

Questions INTERVIEWER COPY
1► How would you size the total market for protein bars in the UK?
► Please demonstrate how you would structure the market sizing
► Conduct the calculations

Q1: Suggested segmentation INTERVIEWER COPY
1
§ Attend the gym daily mainly to weight lift
§ Eat protein bars almost daily
Body Builders § Will pay a premium for higher content of protein and sacrifice taste
Increasing frequency of eating protein
bars and penetration based on
2 § Exercise regularly but partake in other sporting activities such as

triathlons
Sports Fanatics § Require less protein than body builders and eat less frequently
exercise penetration
§ Value taste more than body builders but not as much as chocolate
lovers
3 § Minimal interest in sport and therefore don’t have need for protein to
build muscle / improve performance
Non-exercisers § Buy snack bars to stave off hunger and for the taste
§ Low awareness of the benefits of protein and are willing to trade off
protein for taste and price

Q1: Market Sizing Suggested Solution INTERVIEWER COPY
Market Size Calculation (Do not give sheet to candidates).

Example numbers given on following page.
• Candidates should recognise each consumers have different

Consumer
preferences for eating protein bars
Segment size
û • Candidates should make reasonable assumptions about penetration
Segment rates across different consumer segments recognising that body
builders will have a much higher penetration level
Penetration
û Calculate for
Frequency of each segment • Will need to make assumptions around frequency of consumption.
Consumption of “Body builder” segment will consumer most frequently
Bars
û
• Make reasonable suggestions for retail price based on experience of
buying protein bars or snack bars. May mention discounts.
Ave. Retail Price
Sum all Total Market

Segment Size Size
Segments

Q1: Market Sizing Suggested Solution INTERVIEWER COPY
1 2 3 General Comments
Data points Body Builders Sports Fanatics Non-Exercisers • Segment based on exercise habits
• Non-exercisers are an ‘other’ category
Population 60m 60m 60m • Try to steer them towards using 60m as easier
Segment size 10% = 6m 30% = 18m 60% = 24m • These are just suggestions, allow different numbers but steer
towards rounded numbers but must have similar relative
proportions (i.e. body builders are small proportion)
• NB: In the real case we had 4 segments including light sports
users so the mainstream category was smaller
Segment Penetration 70% = 4.2m 50% = 9m 20% = 4.8m • These are suggested numbers. Accept anything that has a
similar relative penetration (i.e. Segment 3 is the lowest)
• You could ask them to think about it, assess their thinking and
then ask them to use these penetrations
Ave. Frequency of 2 / week = 96 / year 3 / month = 36 / year 1 / month = 24 / year • Lower grading if they don’t get to an annual number
Consumption (Bars) • Rounding is permissible
Ave. Retail Price £2 £2 £2 • Candidates with some experience may know that these bars
have a premium. However, £1 would be an acceptable number
to use
Segment Value £806.4 m £648m £230.4m • Suggest rounding to 100 bars for segment 1 (£840m)
• Suggest rounding to 7m for segment 2 (£336m)
Total Market Size £1.7bn • Alternatively (£840+£648+£338) = £1.824bn

Questions
2► As mentioned, the PE firm are interested in the mainstream segment

of the market for protein bars. What do you think are the growth
drivers of this segment of the market?

Q2: Market drivers guidance INTERVIEWER COPY
► Broader trends/considerations
demonstrating commercial awareness
► Core market drivers
Customer Driven Supply side Factors
► Increased distribution particularly in

► Increased participation in sports
convenience channels
► Increased interest in foods that are good for

► Availability of online
our health
► Marketing of the benefits of protein in

► Trend towards convenience / on-the go achieving sporting goals by sports nutrition
products companies
► Broader range of SKUs and increased

accessibility of flavours and price
► Marketing of the general benefits of protein to

overall health sports nutrition companies
This list is not exhaustive, credit should be given to the candidate for any valid point raised

Questions
3 Based on the data on the following slides, is there sufficient

evidence to say protein bars can go mainstream? Please summarise
in a few (3-5) bullet points.

Data INTERVIEWER COPY
Q: What is most important to you when thinking about healthy eating?

Select and rank your top 3
40%
30
20
10
0
Low calorie Less carbs More protein Organic Nutrients added From Gluten free GMO free
a
sustainable
source
Source: Parthenon-EY Health & Wellness Consumer Survey 2015 (n=1,061)

Q: What is the main occasion when you Q: What is the most important reason for
eat protein bars? you eating protein bars?
Improve energy
blood sugar
Build muscle
bars or sweets
Easy way to add

Weight loss
to chocolate
Manage
more protein
alternative
to my diet
Healthy

Q: How often do you typically exercise so you work up a sweat?

For all consumers who bought the brand in the past 6 months
100%
80
60
40
Every day
Five or six times per week
Three or four times per
20 week
One or two times per week
Less than once per week
I don’t usually exercise
0

Q: Where did you buy the [brand] bars you purchased

most recently?
60%
54%
40%
40
25%
20%
20 18%
11%
10% Average (excl. Muscle
8% Nutrition)
4% 4% Muscle Nutrition
3% 3%
consumers
0
Supermarket Specialist health Amazon Online (excl. Convenience store Other
store (e.g.,Holland Amazon)
& Barrett / Met-Rx)
% All Brands 50% 15% 12% 15% 4% 3%

Q: How often do you eat a protein bar? Q: Are you eating more or less protein
bars than you did in the past?

Q3: Mainstream evidence suggested solution INTERVIEWER COPY
Slide No . Survey Question Mainstreaming?
1 What is most important to you when thinking about healthy Inconclusive – difficult to infer
eating?
2 What is the main occasion when you eat protein bars? Suggests mainstream – eating as a
convenience snack as opposed to for the
purpose of workouts
2 What is the most important reason for eating protein bars? Suggests mainstream – Considering protein
bars as a replacement for chocolate and
sweets suggests they are considered for a
much broader and common propose than
sports related reasons which are more niche
3 How often do you typically exercise so you work up a sweat? Suggests mainstream – Musle Nutrition bars
are generally eaten by consumers who don’t
have specialised sporting needs therefore has
a broader appeal across consumer segments
4 Where did you buy the bars that you bought most recently? Suggests mainstream – Generally purchased
in mainstream channels, namely
supermarkets, and less so in specialist stores
5 How often do you eat a protein bar? Could suggest mainstream – High frequency
could suggest not a niche product
5 Are you eating more or less protein bars than you did in the Could suggest mainstream – Consumption of
past? protein is increasing suggesting its becoming a
more acceptable product
Agenda
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INTERVIEWER COPY
► This case is about Calypso, a provider of phone services to prisons ► If you don’t understand something, please ask
and prisoners in Europe. The company addresses four markets: for clarification
1) Telephone systems: connects prisoners and external parties (e.g. ► There are no ‘tricks’ here – we are trying to find
relatives) through telephones made available to prisoners out what you can do, not if we can catch you out
2) Multimedia: covers media content / video-calling and messaging ► Take the time to think through your answer and
apps structure your response
3) Prisoner self-service: self-service applications for prisoners ► Please write down your workings clearly on the
sheets of paper provided so that your
interviewer can follow along
4) Lawful interception: surveillance and storing of content provided
over Calypso’s services
► Please keep working through even as your
► Calypso generates a majority of its revenues from the use of
telephone systems by prisoners, and has not yet fully rolled out all
of its products across every market ► Please do not open this pack until instructed to
do so by your interviewer
► A private equity investor is interested in acquiring a stake in the
business and has engaged EY-Parthenon to assess the market and
future growth opportunities for Calypso
INTERVIEWER COPY
Market segmentation
Market segments Description Calypso’s Products Buyer
► Hallway and in-cell telephone ► Prison telephones and in-cell ► Prisoner pays per
systems providing access to phone systems use
national and international ► CalypsoConnect for collect ► Relatives pay for
calls, through landline, cell calls collect calls and
Telephone and collect calls can fund the
systems prisoner’s account
► In-cell multimedia terminals ► Prisoner pays

which enable inmates to ► TV access, radio, DVD and
telephony monthly fee
communicate (through video
calls, video messaging and ► Multimedia content, video ► Relatives can fund
video telephony) and watch and calls and messaging the prisoner’s
Multi-media listen to music and movies account
► Self-service solutions ► In-mate self service ► Prison

delivered via in-cell terminals applications administration
which enable inmates to pays service fees
organise their prison life, ► Storage of past conversations
doctors appointments and ► Charged for on a
Self-service shopping per prisoner basis
► Provides capabilities for the ► Lawful interception ► Prison

listening in on conversations capabilities administration
and the storage of past pays service fees
conversations
Lawful ► Charged for on a
interception per prisoner basis
INTERVIEWER COPY
Question 1
1► What is the size of the addressable market for Calypso’s services

within Europe (in terms of annual € revenue)?
INTERVIEWER COPY
Question 1: Market Sizing – All services
Market Size Calculation
European Population
(Either 500m or 750m)
% in prison 500,000 – 750,000

(~0.1%)
Telephone Multimedia Prison Services
% using phone regularly 375,000 % using media regularly 250,000

(~75% - optional step) (~50%)
Minutes spent telephoning

p.a. 562.5m mins
(~30m per week, 1500 p.a.)
Monthly cost
Price per minute Annual cost
€112.5m (€5 per month, €60 per €15m €50m
(€0.2 per minute) (€100 per year)
year)
Total per year

€177.5m
(sum of the above)
INTERVIEWER COPY
Question 2
2► What are the drivers of growth for the prison telephony market? How
do you think this market is likely to develop in Europe over the next
3-5 years?
INTERVIEWER COPY
Question 2: Business drivers
Key aspects to be covered
Give credit for any reason, well-structured response. Below are examples of good points a candidate can
make. A good candidate would also talk about the relative ranking of the drivers and consider the limitations to
the drivers listed
Volume
► Prisoners are forecast to remain stable across European markets (considers country variances) – no data
to support this in materials, but candidates should be expected to reflect on what might cause the number
of inmates to grow or decline (good ones would think about both population and incarceration rate).
Increased immigration or growing economic inequality in the last few years could be one reason that the
number of inmates might rise, but overall falling crime levels and a declining population in some countries
could be reasons to expect the number of inmates to fall.
► Increasing usage per inmate as the reintegration to society is of key importance in most European
markets resulting in lower restrictions on telephony usage and adoption of in-cell telephony. However, if
restrictions are lifted completely and inmates are allowed to use their own cell phones, Calypso’s product
might become redundant
► Increasing concerns over technology and prisoners using the services to e.g. organise crime from within
prisons will increase the need for Calypso’s interception services
Price
► Falling prices driven by regulation and competition which has consequently increase the volume of calls
(candidates should be able to reflect on whether this actually has an effect, or is just equaling itself out)
INTERVIEWER COPY
Calypso’s company footprint
Calypso’s revenue by product segment (%), FY17 Calypso revenue split by geography (%), 2017
Interception services In the Netherlands,

Self-service Calypso generates
~20% of revenue with
Multimedia
products other than
telephone systems.
NL
14%
PL
DE 9%
27%
CZ
<1%
92.0% Telephone Systems FR HU
28% 7% RO
8%
BG
3%
FY17
Key: = More than 10% = From 5% to 10% = Up to 5% = None
Note: IR = Ireland, UK = United Kingdom, FR = France, SP = Spain, BE = Belgium, NL = Netherlands, CH = Switzerland, DE = Germany, CZ = Czech Republic, AT = Austria, IT = Italy, HR = Croatia, HU = Hungary, EY-Parthenon | Page 51
SK = Slovakia, RO = Romania, BG = Bulgaria, PL = Poland, NO = Norway, SE = Sweden, FI = Finland
INTERVIEWER COPY
Contract structure and upcoming tenders
National vs local tender organisation Commentary
► Although the majority of revenue is paid for by prisoners

themselves, Calypso contracts with prison providers to be
allowed to offer its services to prisoners, usually as a sole
provider
► A majority of contracts are won through national tenders which

have unique requirements for each country
► Tenders are lengthy and begin in advance of the actual tender

FI
NO period and typically last 3-5 years with extension options
SE
► The complexity of public tenders has resulted from mandatory

NL
requirements and a sophisticated scoring system
IR UK
PL
BE DE
CZ
SK
Upcoming National Tenders in 2018 - 2019
AT
FR CH HU
HR RO Country Contract Length
IT BG
Poland 3 years
SP
Norway 5 years
Czech Republic 4 years
Sweden 5 years
Finland 4 years
Key: = Local / regional tender = National tender
Switzerland 4 years
France 5 years
Denmark 3 years
Note: IR = Ireland, UK = United Kingdom, FR = France, SP = Spain, BE = Belgium, NL = Netherlands, CH = Switzerland, DE = Germany, CZ = Czech Republic, AT = Austria, IT = Italy, HR = Croatia, HU = Hungary, EY-Parthenon | Page 52
SK = Slovakia, RO = Romania, BG = Bulgaria, PL = Poland, NO = Norway, SE = Sweden, FI = Finland
INTERVIEWER COPY
Pricing and usage patterns
Commentary Telephone Usage Data, Germany
► After being accused of charging unfairly high prices due to a

lack of other telephone options in prisons, Calypso was taken
to court in Germany and forced to substantially reduce the
prices for its telephone services
► There has been public pressure on Calypso in France and the

UK to make similar price reductions, with talks of litigation
INTERVIEWER COPY
Global prison demographics
Global Prison Industry,

by Number of Inmates, 2017
100%
Calypso Customer Counties 5.0%
Rest of Europe 11.1%
80 Africa and the Middle East 11.3%
South America 14.6%

60
North America 21.8%

40
20 Asia Pacific 36.3%
0
Number of Inmates
INTERVIEWER COPY
Question 3
3► Based on the data available and your own knowledge, what are the
growth opportunities for Calypso over the next 3-5 years? What are
the potential risks?
INTERVIEWER COPY
Question 3: Growth opportunities and risks
Key aspects to be covered
Give credit for any reason, well-structured response. Below are examples of good points a candidate can
make. A good candidate would also talk about the relative ranking of the opportunities and consider the
limitations to the opportunities listed
Opportunities
► Increasing penetration within Multi-media, Self-service and Interception services - the company currently
underserves these markets (within revenues largely from NL)
► Expansion to new European markets, considering different tender policies and ease of market entry
► Expansion outside of Europe as emerging markets become more sophisticated – but probably with
increased difficulty
► Expansion to other services that can be sold to prisons
Risks
► Re-tendering of contract in France, possible to lose a large portion of revenue if this is not won again
► Technological advancement resulting in new entrants into the market / making telephony redundant
(Calypso’s core market)
► Falling number of inmates (?) – no data to support this is materials provided, but candidate should be
able to reflect on what the possibilities are, and if so how significant this would be
Other
► Arguable whether falling prices is a risk or not, as experience from Germany shows lost revenue being
made up with higher call volume
Agenda
D
O
N
O
T
E
D
E
L
E
T
E
Why EY-Parthenon?
► $35b EY total revenue
► Dedicated to Strategy
Unique ► #1 PE by deal volume
Proposition ► #1 in key sectors
#1
Inclusive ► Value unique perspectives
Culture ► Commitment to growing our
people
► Strong mentorship culture
► 20% YoY growth for EY-Parthenon

► Winning in the market : 2-4x market growth
Growth and
Opportunity ► Taking share
► Creating opportunities
Global reach
EY-Parthenon offices
… with >50 professionals
EY-Parthenon is a strategy EY is a global professional

consultancy helping our clients services organisation committed
challenge the status quo. to building a better working world.
Key stats: Services: Key stats: Service lines:
1,800+ professionals Growth strategy 260,000+ people Transactions
$400m revenue Portfolio strategy $35b revenue Advisory
40 offices Commercial DD 700+ offices Assurance
24 countries 150 countries Tax
What we do
Growth Optimisation Transaction

strategy strategy strategy
► Corporate and business unit ► Digital transformation ► M&A strategy

strategy strategy ► Commercial diligence (buy
► Portfolio strategy ► Route-to-Market (RTM) side)
► New market growth design ► Divestment strategy (sell
opportunities ► Pricing optimisation strategy side)
► Strategic business model ► Customer segmentation ► Post-acquisition planning
alignment ► Sales and marketing ► Post-merger integration
► Full Potential Paradigm™ effectiveness
Key sectors
Diversified Industrial
Education Energy Products & Services
Healthcare & Life

Financial Services
Sciences
Retail, Consumer and Technology, Media

Private Equity Leisure &Telecoms
EY Growth & access
Multi-billion Revenues
Growing almost 15% a year globally
Transaction Strategy
Advisory Services Enabling fast-track growth and portfolio strategies that help
(TAS) you realize your full potential for a better future
Buy and integrate

Enabling strategic growth through better-integrated and
Advisory operationalized acquisitions, joint ventures and alliances
Sell and separate

Enabling strategic portfolio management and better
Tax divestments to help you maximize value from a sale
Reshaping results
Helping you transform or restructure your organization for a better
Assurance future by enabling business-critical and capital investment decisions
Corporate finance
Enabling better decisions around financing and funding
capital expansion and efficiency
Our culture
Smart. Nice. Driven.TM

Extremely bright, Inclusive, friendly and Unrelenting energy
intellectually curious, arrogance-free style that focused on finding inspired
blending a command of relishes open collaboration solutions and delivering
analytics with an appetite and partnership proactive service
for inventive thinking
Diverse team
Team members and worked on and come from a and have achieved
come from 28+ different things range a variety of
countries … before … of backgrounds… things…
► Certified ski instructor

Volunteering
► Cliff jumper
► Tri-athletes
Travelling
► Certified Krav Maga
specialist
► University challenge
Consulting finalists
► Former Professional
Poker Player
Graduates
► Marathon Runners
► Mt. Kilimanjaro climbers

Other corporates
► Ex national level swimmer
► Top ranked marksman
► Ex ultimate Frisbee world

champion
What makes Limited
► Focus on strategy not
implementation means
EY-Parthenon travel
typically London-based.
Travel requirements
different? are based on client and
engagement needs
Day to day
► Regular social events
► Non-hierarchical structure
Inclusive means daily interaction with
experienced professionals
culture
► Regular feedback channels
Space to
shape
► Fast growth means lots of white space to
EY-Parthenon help grow practices
► Internal committees structured to drive
change and have real impact on how we
run our business operations
Having fun and giving back
Charity fundraising Off-site professional training
Case team events & Pro-bono Team sporting events

office socials consulting
Global growth
2000
1800 EMEIA Global

1800
15
1600
1400
1200
1000 970
880
800
600
400
400 340
200 140
0
FY15 FY17 FY19
Building consulting careers… rapidly

… over time, you need expertise to succeed
If you have a passion

and/or specialised Partner
background in a
particular industry
Expert
(e.g., education, life
sciences), you may Director
have the ability to
focus on that sector.
Assistant Director
~2-4 years
Consultant
~2-3 years
Senior Associate
~1-2 years
Associate
Generalist ~2 years
Early in your career, you can benefit from broad sector experience …
Associates have a clear career progression
Workstream
leadership
► Play an integral role
Workstream in work planning
ownership ► Lead discrete work
► Assist in work streams
Independent planning ► Begin to manage
analyst people
► Take ownership
► Perform analysis of research and ► Take responsibility
Executor and research with analysis for key client
► Perform analysis increasing level of contacts
► Present to
and research with independence
appropriate client
guidance ► Present findings in contacts
► Primary and internal case team
secondary research meetings
/ expert interviews ► Increase client
► Interact with clients contact
at the data-
gathering level
Your training is comprehensive, fun and
practical
EMEIA Associate Bootcamp
Onboarding Parthenon Offsite Week Onboarding

“Toolkit Training” “POW” “Toolkit Training”
Week 1 Week 2 Week 3
The Pyramid Financial

Excel training
Principle analysis
PowerPoint Diversity Primary

training training Research
Real case Secondary

Market analysis
application Research
Competitors EMEIA wide, all tenures. Sector

analysis 2019 POW was in Dubai
introduction
with ~800 people
Commitment to personal growth

Training Professional Development
Formal on the job training Formal counsellor assigned
Associate coaching programme Upward feedback cycles
Case assessment forms

Brown bag lunches
EY network classroom and online learning EY development programmes, e.g. Accelerate@EY
Under-pinned by mentorship culture
Naturally emerging relationships with peers or seniors to offer broader perspective on how to be successful
Upward mentorship – every Partner has an upward mentor to deliver informal feedback collected
Career tracks
EY-Parthenon Partnership
EY-Parthenon EY-Parthenon EY-Parthenon EY-Parthenon

UK Financial Software EMEIA
Services UK Strategy Group
12 Partners and 3 Partners and 2 Partners and 122 Partners and

Associate Partners Associate Partners Associate Partners Associate Partners
74 Consultants 21 Consultants 8 Consultants 830 Consultants
► EY-Parthenon UK has ► EY-Parthenon FS UK is ► SSG is a specialized ► EY-Parthenon has offices

multiple practice teams located within the EY software practice within in 13 countries in EMEIA
and is based in London Financial Services office EY-Parthenon, based in (excluding the UK)
Bridge in Canary Wharf London Bridge
► Some of these are hiring
► Associates recruited as ► Associates are recruited ► In the UK, we will be associates. For more
Generalists working specifically for the looking to hire associates information, please ask a
across practice areas Financial Services into this practice area too representative or see the
practice in a separate process careers website
Why should you choose EY-Parthenon
Market leading growth
Focus on strategy
Variety of sectors
Integrated offering
Inclusive culture

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EY-Parthenon Associate Recruitment

Candidate Case Preparation Pack

FT Applications Summer Applications

August September October November December January February

Full Time Associate

First Round Interviews Final Round Interviews

► 25 min case study ► 35 min case study

Tips and Guidelines

► 1 on 1 interviews with experienced consultants

Market Sizing Business Case Data Dump

► Preparation is key, but don’t overdo it!

Tips and Guidelines

1 Listen to the question and clarify the scope

2 Write things down!

3 Talk out loud

4 Think about different ways of approaching the problem

5 Think about the key underlying assumptions

Tips and Guidelines

► Understand what the business does

2 Practice with a friend

3 Think outside the box!

Case 1: Protein Bars CANDIDATE COPY

About the case: Advice to candidates:

Case 1: Protein Bars CANDIDATE COPY

► Please demonstrate how you would structure the market sizing

► Conduct the calculations

Case 1: Protein Bars CANDIDATE COPY

2► As mentioned, the PE firm are interested in the mainstream segment

Case 1: Protein Bars CANDIDATE COPY

3 Based on the data on the following slides, is there sufficient

Case 1: Protein Bars CANDIDATE COPY

Q: What is most important to you when thinking about healthy eating?

Case 1: Protein Bars CANDIDATE COPY

Easy way to add

Case 1: Protein Bars CANDIDATE COPY

Case 1: Protein Bars CANDIDATE COPY

Q: Where did you buy the [brand] bars you purchased

% All Brands 50% 15% 12% 15% 4% 3%

Case 1: Protein Bars CANDIDATE COPY

About the case: Advice to candidates:

Market segments Description Calypso’s Products Buyer

► In-cell multimedia terminals ► Prisoner pays

► Self-service solutions ► In-mate self service ► Prison

► Provides capabilities for the ► Lawful interception ► Prison

1► What is the size of the addressable market for Calypso’s services

Key: = More than 10% = From 5% to 10% = Up to 5% = None

National vs local tender organisation Commentary

► Although the majority of revenue is paid for by prisoners

► A majority of contracts are won through national tenders which

► Tenders are lengthy and begin in advance of the actual tender

► The complexity of public tenders has resulted from mandatory

Commentary Telephone Usage Data, Germany

► After being accused of charging unfairly high prices due to a

► There has been public pressure on Calypso in France and the

Global Prison Industry,

80 Africa and the Middle East 11.3%

South America 14.6%

North America 21.8%

20 Asia Pacific 36.3%

Case 1: Protein Bars INTERVIEWER COPY