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If I have enough time, definitely. I researched my current employer a lot and had some knowledge of the products going in. I definitely think this helped me get the job.
I always prepare religiously even though I have been working in the industry for 15 years and know my stuff well. And it makes a tremendous amount of difference as I tend to be more confident about how I am going to present my profile and what I want to ask them about the role and the organization. Good questions make as much an impact as good answers.
My prep usually involves (in this order) -
1. Reviewing the job description and highlighting the key skills they are looking for. These are the key points I must talk about my experience during the interview.
2. Knowing every word on my resume - the projects and my role and responsibilities, team structure, what worked and what didn't, key lessons learned from that role, and other relevant facts, figures, and dates. What I highlight as my roles and responsibilities and what I learned is tailored to match #1 to make a better connect/impact.
3. Research the interviewer on linkedin, if I know his/her name. Gives me a good idea of his/her background e.g. has s/he been with the company for long; what is his/her career path; key areas of expertise, etc.
4. Research the group/products/services that I will be primarily working on. This allows me to ask relevant questions during the interview.
5. Research the company and the industry overall - what has been in recent news about the specific company; how is the industry doing overall; key issues in the news lately, etc.
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