Internship ECM Interview - Equity Capital Markets
As it was a plain online application and the usual HR process I can't really give special advice besides giving your CV good thought. The culture/atmosphere during my interviews was very comfortable. My conversation partners were friendly and open minded.
This was an easy one, at a previous internship with Volkswagen I worked a lot with excel (including VBA) and ppt so I'd just talked about my project. I focussed on explaining what the problem was and how I solved it.
This one came right after I explained my Volkswagen project. In all honesty I told them that accounting would be too boring as a long term job and I'd seek for a more turbulent environment.
This was the most technical question. I first praised DCF for its concept and that it covers the main rationale which you would think a investor goes through. However, after the praise I started talking about assumptions that had to be made no matter which DCF is used and how, in the end, all assumptions are subjective as there is no strict objectivism in determining capital costs, as well as defining terminal value (when do phases end? growth rate?).
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