Another Interview Question

J

JJones

Guest
I have an interview in a local authority coming up and one of the questions is, what would do if you had a million euros to invest. Obviously in the context of a local authority.
Any ideas on how to approach this question.
Serious replies please
 
I reckon the reason why this question might be asked is to determine how risk averse the candidate is. I reckon that Local Authorities are fairly risk averse environments and that a staid conservative response might be the most appropriate.

However, If I was conducting an interview for say a marketing director and if I asked this question I would expect a flambouyant response.

ajapale
 
I would think this was an opportunity to demonstrate an understanding of the remit and stresses on a local authority, value for money and the key public services required in your area.

When answering this the reasons for your answer are more important than what you pick. It depends on the position that you are going for.

My answer to this would be something that improved public service and that did not add to the cost base of the local authority as it seems to be a once off payment. Perhaps split the money on two items one public service initiative and one cost reduction to ensure services are delivered into the future.

I'm curious as to how you know what the question will be. Do you currently work for the local authority?

Nogser
 
Thanks all, someone who has been through the process before said this is a question that comes up quite regular. Thats not saying they were any help with an answer though
 
what would do if you had a million euros to invest.
Click to expand...

I assumed this related to what you would do personally if you had a million to invest. Is this correct or is the question how you would invest a million in the Local Authority/Public Service.

If it is personally you could always reference Brendan's Savings and Investments Book in Ask About Money! www.askaboutmoney.com/guide/index.htm

ajapale
 
Local authorities shouldn't have this money to 'invest'. If they have a surplus of funds, then taxes should be reduced. How about that answer?
 
Hi AP,

Im interested, do you think its a good idea to get argumentative and stroppy at a job interview?

ajapale
 
I know this is a little late but usually this question is designed to determine if you know how much a million actually is. The classic question is what would you do with a million. The candidate sometimes would blurt out that they would "invest it" leading to two questions

1. In what would you invest?
2. Would you not give any of the money to your family etc etc?

The question has very little to do with money or risk generally and more to do with trying to figure out if you can construct a rationally argument in a short period of time and if you understand the true value of money, what you choose to do with your money is usually of little interest to them.
 
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