Phone interviews are part of most hiring processes. For the interviewer, it's a way to talk one-on-one with the best candidates and narrow down the field. For the person being interviewed, however, it's incredibly stressful. If it goes well, it gives you the chance to advance to the next step and possibly get the job. If it goes badly, it can be the end of what you'd hoped for. Even though the preparation can be scary, the more you do, the easier they'll go.
Here are thoughts that you have before, during, and after a phone interview.
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