Putnam Associates Interview: How to Prepare and What to Expect

If you’re preparing for a Putnam Associates interview, you can expect a mix of case interviews, behavioral questions, and a focus on life sciences consulting. While Putnam may not have the same name recognition as McKinsey or BCG, it’s a top-tier healthcare consulting firm known for its technical depth and rigorous process.

In this article, we will explore what to expect during the interview, how to prepare for each round, and how to stand out in both case and fit interviews.

What is the structure of the Putnam Associates Interview?

The Putnam Associates interview process typically includes a screening round, a first round with two case interviews, and a final round with a mix of case and behavioral interviews. Most interviews are candidate-led and focused on life sciences strategy.

The process usually follows three main stages:

1. Initial Screening Round (if applicable)

• For candidates from non-target schools or lateral hires, the first step may be a 20 to 30-minute phone screen with a recruiter.
• Expect questions about your resume, motivation for joining consulting, and interest in healthcare.
• This round may include light behavioral questions.
• Strong communication and a clear reason for targeting Putnam are essential.

2. First Round Interviews

Most first-round interviews include:

• Two 30- to 40-minute case interviews.
• Each case is candidate-led, meaning you drive the analysis.
• One or both interviews may include a few behavioral or fit questions at the beginning or end.

Topics often focus on:

• Market sizing for pharmaceutical products
• Drug pricing strategies
• Product launch decisions
• Clinical or regulatory considerations

3. Final Round Interviews

The final round includes three 30- to 40-minute interviews, typically with more senior consultants or partners.

• Two interviews will be mostly case-based.
• One interview will focus heavily on behavioral and fit questions.
• You may encounter questions about teamwork, leadership, and grit, often framed around Putnam’s core values.

Other Notes

• The entire process may span 2 to 4 weeks depending on scheduling.
• Case difficulty tends to be moderate, but success depends heavily on structure, communication, and healthcare context.
• Interviewers expect familiarity with life sciences topics such as R&D pipelines, patient access, and commercial strategy.

What types of case interviews does Putnam use?

Putnam uses candidate-led case interviews focused on healthcare and life sciences strategy, including topics like market sizing, drug pricing, product launch, and growth strategy for pharmaceutical and biotech clients.

While the format resembles case interviews at other consulting firms, Putnam’s cases are tailored to the healthcare industry. You’ll be expected to lead the case, structure your approach clearly, and demonstrate both business logic and life sciences knowledge.

Common Themes in Putnam Case Interviews:

• Life Sciences Context: Most cases involve biotech, pharmaceutical, or medical device companies.
• Business Strategy Focus: You may be asked to assess new market entry, revenue decline, pricing models, or clinical development strategies.
• Candidate-Led Format: You’re expected to guide the conversation, create a framework, and drive toward a recommendation.
• Data Interpretation: You’ll likely receive exhibits such as market share graphs, pricing tables, or clinical trial timelines to analyze.

Case Structure Expectations:

• Clarify the problem statement: Verify the business objective before diving in.
• Build a customized framework: Cover scientific, regulatory, competitive, and financial angles.
• Perform both qualitative and quantitative analysis: Think critically and communicate clearly.
• Tie findings back to the client’s goal: Every insight should connect to your final recommendation.

Understanding life sciences consulting is key to succeeding. You don’t need to be a scientist, but you should know basic terms like “clinical trial phases,” “payer strategy,” or “drug lifecycle.”

How should you prepare for Putnam behavioral and fit interviews?

To prepare for Putnam’s behavioral and fit interviews, focus on crafting concise, structured stories that reflect your alignment with Putnam’s core values and showcase leadership, problem-solving, and teamwork in a life sciences or analytical context.

These interviews assess more than your experience, they test how well you fit with the firm’s culture and how you’ve demonstrated key traits in past roles. Fit interviews typically appear in both first and final rounds, with one final round interview fully dedicated to behavioral questions.

Key Areas to Prepare:

Putnam’s Core Values: Your stories should reflect traits like:

• Collaboration: Working in teams, building trust
• Excellence: Striving for high standards
• Ingenuity: Creative problem-solving
• Grit: Overcoming challenges and showing persistence
• Diversity: Respecting different perspectives and inclusion

Common Behavioral Questions:

• “Why are you interested in working at Putnam?”
• “Tell me about a time you led a team.”
• “Walk me through your resume.”
• “Describe a time you dealt with conflict.”
• “What is something you’re proud of that isn’t on your resume?”
• “Tell me about a time you failed, what did you learn?”

Use the STAR Method:

• Situation – Briefly set the context
• Task – Explain your role
• Action – Focus on what you did
• Result – Quantify or describe the impact

Example Answer Using STAR: Question: “Tell me about a time you had to persuade someone.”

• Situation: Worked with a medical research team reluctant to adopt a new analytical model.
• Task: Convince them it would improve result accuracy.
• Action: Presented pilot results comparing both models and addressed their concerns through Q&A.
• Result: Adoption increased by 70% and reduced reporting errors by 25%.

Final Tips:

• Keep answers under 2 minutes.
• Prepare 6 to 8 flexible stories that can apply to multiple questions.
• Tailor examples to healthcare or analytical work, especially if you're coming from a science, pre-med, or research background.

How do you estimate market size for pharmaceutical cases at Putnam?

To estimate market size in Putnam case interviews, you’ll need to combine top-down logic with bottom-up assumptions about patient populations, treatment rates, pricing, and product access. These cases test your ability to break down complex markets into clear, quantifiable segments.

Pharmaceutical market sizing is one of the most common case types at Putnam, especially because it aligns closely with their work in drug commercialization, forecasting, and pricing strategy.

Common Market Sizing Approaches:

Top-Down Method Start from a broad population base and narrow down using filters:

• Total population of a country or region
• % affected by the condition
• % diagnosed
• % eligible for treatment
• % expected to adopt the product
• Annual cost of treatment or drug

Example: “Estimate the annual market size for a new hypertension drug in the US.”

• US population: 330 million
• % with hypertension: 30%
• % diagnosed: 80%
• % treated: 70%
• Annual cost per patient: $1,500
• Market size ≈ 330M x 0.3 x 0.8 x 0.7 x $1,500

Bottom-Up Method Start from usage volume or provider-level data:

• Number of hospitals, physicians, or clinics using the treatment
• Number of patients seen per year
• Number of doses per patient per year
• Price per unit or treatment cycle

Use this when:

• Product is limited to specific institutions
• Distribution is constrained (e.g., specialized devices, rare diseases)

Tips for Market Sizing Success:

• Always clarify the goal: Revenue? Patients? Units sold?
• State and justify your assumptions clearly
• Round numbers for easier math, but show your logic
• Explain implications: Is the market large enough to enter? How fast could it grow?

Putnam-Specific Expectations:

• Demonstrate knowledge of healthcare industry terms like indication, access barriers, payer coverage, and launch sequencing
• Use logic, not memorized frameworks
• Think aloud and engage the interviewer

What life sciences industry knowledge is expected by Putnam?

Putnam expects candidates to have a solid understanding of the healthcare and life sciences industry, including familiarity with pharmaceutical products, clinical trials, regulatory pathways, and commercialization strategy. You don’t need to be a scientist, but you must be comfortable discussing healthcare-specific concepts.

Key Areas of Knowledge to Review:

1. Drug Development Lifecycle

• Preclinical research
• Phase I, II, III clinical trials
• FDA/EMA approval process
• Post-launch lifecycle management

2. Market Access and Payer Strategy

• Role of insurers, pharmacy benefit managers (PBMs), and government payers
• Health technology assessments (HTAs)
• Pricing and reimbursement differences across markets

3. Commercialization Strategy

• Launch planning
• Physician and patient adoption strategies
• Sales force effectiveness
• Global expansion timelines

4. Scientific Terminology and Metrics

• Indications and therapeutic areas (e.g., oncology, cardiology)
• Patient segmentation (e.g., diagnosed vs eligible)
• Mechanism of action
• Clinical endpoints and trial success criteria

How to Show Industry Readiness:

• Use accurate terminology when discussing case elements
• Clarify what you know or don’t know, it’s okay to ask for industry context during a case
• Relate your experiences (e.g., internships, coursework, labs) to healthcare decision-making

What are sample Putnam Associates case interview examples?

Sample Putnam Associates case interviews often center around real-world challenges in the pharmaceutical and healthcare industries. Each case is candidate-led and tests your ability to reason through strategic decisions in complex, regulated environments.

Sample Cases:

1. Hospital Profitability Decline

• Context: A hospital in Boston has seen flat patient volumes but declining revenue.
• Task: Identify drivers behind the earnings drop and recommend strategic changes.
• Concepts tested: Revenue breakdown, cost structure, patient segmentation, competitive benchmarking.

2. Drug Pricing for Indian Market

• Context: A US-based pharma company wants to launch an anti-smoking drug in India.
• Task: Determine if the drug should be launched and at what price point.
• Concepts tested: Price sensitivity, cost-based pricing, access barriers, payer landscape in emerging markets.

3. Combination Therapy Strategy

• Context: A client is developing a new product that combines two existing drugs.
• Task: Assess the business case, pricing model, and revenue impact.
• Concepts tested: Cannibalization, pricing elasticity, regulatory complexity.

4. Cancer Care Center Expansion in China

• Context: A multinational pharma company wants to open private cancer clinics in China.
• Task: Evaluate market opportunity and risks.
• Concepts tested: Market sizing, operational strategy, competitive landscape.

5. New Medical Device Launch

• Context: A healthcare supply chain company has developed a new non-invasive surgical tool.
• Task: Decide whether to launch and how to go to market.
• Concepts tested: Product adoption curve, launch sequencing, stakeholder analysis.

What key differences distinguish Putnam’s interview from other firms?

Putnam’s interview process stands out for its deep focus on life sciences strategy, candidate-led case structure, and emphasis on healthcare-specific knowledge. Compared to generalist firms, Putnam expects stronger domain fluency and a comfort level with pharmaceutical industry frameworks.

What Makes Putnam’s Interview Unique:

1. Healthcare-Centric Case Content

• Nearly all cases are set in pharmaceutical, biotech, or medtech contexts.
• Clinical trials, market access strategies, or drug pricing models may appear.

2. Stronger Domain Expectations

• Healthcare backgrounds (pre-med, PhD, MPH, life sciences majors) often have an edge.
• You may be asked follow-ups on scientific concepts or product strategy.

3. Candidate-Led, But Collaborative

• Interviewers may offer helpful nudges or data.
• Reflects Putnam’s team-oriented culture.

4. Emphasis on Fit and Culture

• Values-driven candidates are prioritized.
• Final rounds include a full behavioral interview.

5. Faster Interview Timeline

• Final round invitations and offers may occur within 1–2 weeks.
• Decisions are often made after just 4 interviews.

How long does the Putnam hiring timeline take and what happens post-interview?

The Putnam Associates hiring timeline typically spans 2 to 4 weeks from initial contact to offer. Feedback is usually given quickly, and post-interview steps often include networking sessions and onboarding prep.

After the Screening or First Round:

• Hear back within 2 to 5 business days.
• Final round is usually scheduled the following week.
• Communication is via email and/or recruiter call.

After the Final Round:

• Offers are extended within 48 to 72 hours.
• You may be invited to a virtual lunch or "meet the team" session.
• Offer details include:
  • Office placement
  • Start dates (July/Aug for undergrads; Sept for grads)
  • Background checks and training schedules

If You’re Not Selected:

• Rejections are professionally communicated.
• Feedback may be general unless specifically requested.

Putnam runs an efficient, candidate-friendly recruiting process that reflects its boutique culture and life sciences focus.

Frequently Asked Questions

Q: How do I pass my first screening interview?
A: To pass your first screening interview, focus on clear, concise answers and show genuine interest in the role. For a Putnam Associates interview, highlight relevant life sciences consulting experience and communicate your problem-solving skills effectively.

Q: How to answer tricky questions in an interview?
A: To answer tricky questions in an interview, pause to structure your thoughts and use frameworks like the STAR method. In a Putnam case interview, link your responses to life sciences industry knowledge or market sizing examples when possible.

Q: What are the odds of getting hired after 3 interviews?
A: The odds of getting hired after 3 interviews depend on your performance and firm fit. In consulting, including Putnam Associates, reaching a third round usually means you are a strong candidate and have cleared most major evaluation hurdles.

Q: What really happens in a final interview?
A: In a final interview, firms often assess cultural fit, leadership style, and problem-solving under pressure. In a Putnam Associates interview, you may face behavioral fit questions and a short candidate-led case to confirm readiness before an offer.

Q: How to prepare for a three hour interview?
A: To prepare for a three-hour interview, practice stamina with multiple back-to-back case and behavioral interview sessions. For a Putnam Associates interview, review pharmaceutical strategy cases, market sizing drills, and refine your resume walkthrough.