A number of companies are forgoing the traditional one-on-one interviewing process and opting for group interview scenarios instead. According to Reed, "Not only are (group interviews) a good way to compare and contrast candidates, they also demonstrate how each individual works as part of a team, and how they perform under pressure." Additionally, as per U.S. News & World Report, "For the hiring company, a group interview can be a big time saver and the company may be hiring more than one person for the role."

This process may be a benefit for the hiring manager, but for those being interviewed, the experience can be intimidating. If you are about to head off to a group interview for the first time or want to handle the situation better the next time you're in such a position, here are some tips to make it through successfully and prove that you're the best person for the job. The group dynamic can be your ticket to landing a solo interview as a follow-up and get hired for the role you've been coveting!

Be Confident

While you may be inclined to size up the competition or compare yourself based on first impressions, that won't help you be your best self. You have no idea what the others bring to the table, so focus on your strengths and what your experience and talent can do for the company.

As per U.S. News & World Report, "Always be respectful, courteous and professional. Don't talk down to other candidates or try to make their answers wrong." A sure sign of confidence is being secure in yourself despite what the others may gave to offer. The Muse adds, "Remember, you don't have to talk constantly to be noticed—but to be memorable, make sure what you're saying is unique and contributing to the conversation."

Reed suggests to prepare an introduction before you get there as a smooth icebreaker and "body language can make all the difference. Do it right, and you'll appear attentive and alert, showing your interviewers that you're genuinely interested in what they have to say. Do it wrong, however, and you'll only look listless and lethargic."

Don't forget to make eye contact with not only the interviewer, but all people in the room. Smile and be friendly. Being yourself is confidence from within.

Engage and Address the Others

In this group setting, it's important to be aware of your surroundings. This type of interview is more like a conversation, so you'll need to be engaged with the group and give them the respect you'd expect in return.

As per The Muse, "You have to listen to the interviewers and interviewees and stay engaged in where the conversation is headed. Really pay attention and use body language to show you're engaged with the group, even when you're not talking."

Reed notes, "One of the most important facets of leadership is the ability to ensure everyone's opinions are heard, not just voicing your own."

The interviewer is holding a group interview for a reason. They want to see how you can handle the pressure. They need to know how you'll fare in company meetings and conferences. Think of the other candidates as assets. You can bounce ideas off one another or come up with answers you may have never thought of thanks to something another person discussed. You never know, you may just wind up working alongside one or more of these candidates in the future!

Have you been interviewed in a group setting? What did you think the pros and cons were?

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The Federal Reserve sets the guardrails for the federal funds rate, and through that helps control the money supply for the nation.

When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.

A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.

One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.

The Federal Reserve The Federal Reserve


The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.

This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.

The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.

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