Preparing for an interview at Cornerstone Research requires a shift away from standard management consulting prep. You must focus heavily on economic principles, data interpretation, and structured, collaborative problem-solving.

Economic & Financial Intuition – You must demonstrate a robust understanding of microeconomics, financial markets, and valuation. Interviewers evaluate your ability to apply concepts like supply and demand, price elasticity, and market structures to real-world legal disputes. You can show strength by grounding your case analysis in sound economic theory rather than generic business frameworks.

Quantitative & Analytical Rigor – You will be assessed on your comfort with numbers, chart interpretation, and mental math. Interviewers look for candidates who can quickly digest quantitative data, identify trends in graphs, and perform basic percentage and rate-of-change calculations under pressure. To excel, talk through your calculations clearly and explain the story behind the numbers.

Data & Research Competence – Because a significant portion of the analyst role involves data manipulation, you must showcase your research experience. Be prepared to discuss any academic research, independent studies, or internships where you worked with data. Clearly articulate your methodology, the statistical tools you used (such as R, Python, Stata, or SAS), and how you handled data limitations.

Collaboration & Coachability – Cornerstone Research highly values teamwork and intellectual humility. Case interviews are designed to be interactive and collaborative. Interviewers will actively guide you and offer hints when you get stuck. Your ability to accept feedback, pivot your approach based on new information, and maintain a positive, conversational tone is critical.

The interview process at Cornerstone Research is structured to evaluate both your analytical capabilities and your cultural fit over several highly interactive stages. The firm recruits heavily through university campus channels as well as direct online applications, maintaining a consistent and rigorous selection standard across all offices.

The process typically begins with a resume, cover letter, and transcript screening, followed by a first-round interview. This initial round usually consists of two back-to-back 30-minute interviews conducted by current Business Analysts or Senior Analysts. Each session is split between a brief behavioral discussion and an interviewer-led economic case study. These cases are simplified versions of real litigation projects the interviewers themselves have worked on.

Candidates who pass the first round are invited to the final round, often referred to as the Superday. Historically held in-person at your target office (and adapted to virtual formats when necessary), this round is a comprehensive, half-day experience. It typically consists of four to five 40- to 45-minute interviews with professionals across all levels of the firm, including Analysts, Associates, Managers, and Principals or VPs. The day also includes an informal, non-evaluated lunch or coffee chat with junior analysts, allowing you to experience the firm's culture firsthand.

The visual timeline outlines the typical progression from your initial application through to the final decision. Candidates should use this structure to pace their preparation, focusing first-round practice on core economic concepts and mental math, while dedicating Superday preparation to deeper econometric topics and high-level behavioral alignment. Although the core structure remains consistent, minor variations in interview length or seniority of the interviewers may occur depending on the specific office and recruiting cycle.

To succeed at Cornerstone Research, you must perform exceptionally across several distinct evaluation areas during your case and behavioral interviews.

Economic Litigation & Damages Estimation

A core component of the firm's work involves estimating financial damages in legal disputes. You will face cases where you must determine the monetary impact of a specific event or harmful action.

What "strong performance" looks like

A strong candidate immediately identifies the "but-for" world—the hypothetical scenario of what would have happened had the alleged harmful event not occurred. You must structure a logical framework to isolate the impact of the event from other market factors and identify the specific data points required to calculate the difference.

• But-For Analysis – Conceptualizing the baseline scenario to measure damages accurately.
• Lost Profits vs. Reasonable Royalties – Understanding when to apply different damage estimation methodologies, particularly in intellectual property and patent disputes.
• Market Dynamics – Assessing how industry-specific factors, such as seasonality or competitor entry, affect the damage window.
• Advanced concepts – Understanding how to account for mitigation of damages (steps the injured party took or should have taken to minimize losses) and applying appropriate discount rates to future lost cash flows.

Example scenario

"A major pharmaceutical company is sued for delaying the market entry of a generic competitor. How would you structure an analysis to estimate the financial damages suffered by consumers and insurers due to this delay?"

Financial Markets & Valuation

Many of the firm's cases involve complex financial instruments, securities class actions, and corporate transactions. You will be evaluated on your financial literacy and asset valuation principles.

What "strong performance" looks like

You should demonstrate a clear understanding of market efficiency and how public information impacts asset pricing. When presented with financial instruments like interest rate swaps or mortgage-backed securities, you should be able to reason through how macroeconomic shifts (e.g., interest rate changes) affect their value.

• Event Studies – Understanding how to measure the impact of a specific corporate disclosure on a company's stock price.
• Securities Valuation – Analyzing the underlying assets and cash flows that determine the value of complex financial products.
• Market Efficiency – Evaluating whether a market quickly and accurately reflects all publicly available information.
• Advanced concepts – Familiarity with the transition away from benchmark rates (such as LIBOR) and understanding the mechanics of derivative valuation under volatile market conditions.

Example scenario

"An investment bank is accused of misrepresenting the risk profile of a portfolio of mortgage-backed securities prior to the 2008 financial crisis. What data and quantitative methods would you use to assess whether the buyer suffered damages directly attributable to the bank's disclosures?"

Quantitative Methods & Econometrics

As a Business Analyst, you will spend a significant amount of time working with data and statistical models. Interviewers will test your quantitative reasoning and familiarity with econometrics.

What "strong performance" looks like

You must be able to interpret regression tables, discuss statistical significance, and identify potential modeling issues such as endogeneity, multicollinearity, or selection bias. Strong candidates do not just explain the math; they explain the economic meaning behind the statistical outputs.

• Regression Interpretation – Explaining coefficients, p-values, R-squared, and confidence intervals in plain English.
• Variable Selection – Identifying relevant independent variables and explaining the risks of omitting key control variables.
• Data Visualization – Reading and drawing sharp, logical insights from complex charts, trends, and data tables.
• Advanced concepts – Understanding instrumental variables, difference-in-differences estimation, and how to handle non-random sample selection in litigation datasets.

Example scenario

"You are given a regression output estimating the effect of a merger on retail prices. The coefficient on the merger variable is positive and statistically significant, but the R-squared is very low. How do you interpret these results, and what additional tests would you run?"

Behavioral & Firm Alignment

In addition to technical prowess, Cornerstone Research looks for candidates who thrive in a collaborative, intellectually demanding environment and are genuinely passionate about economic consulting.

What "strong performance" looks like

You should articulate a clear, compelling reason for choosing economic consulting over traditional management consulting or investment banking. Your behavioral stories should highlight your intellectual curiosity, attention to detail, ability to handle ambiguous problems, and collaborative working style.

• Why Economic Consulting? – Demonstrating a genuine interest in the intersection of economics, data, and law.
• Research Experience – Talking passionately and deeply about your academic research, thesis, or quantitative projects.
• Teamwork & Adaptability – Showing how you navigate group dynamics, handle constructive criticism, and support colleagues.
• Advanced concepts – Explaining complex technical or academic concepts to a non-technical audience, simulating how an analyst supports an expert witness.

Example scenario

"Why do you want to work at Cornerstone Research specifically, and how does your past academic research experience prepare you for the unique challenges of analyzing data for expert legal testimony?"