Blackstone Restructuring & Reorganization Interview
I just received an offer to interview for Blackstone's Restructuring & Reorganization summer internship position. From what I understand they have 8 positions available and only recruit from Wharton and Harvard. I am from a non-target midwest school and only got the interview because I made a good impression on an MD who pushed me into the process feeling confident I could compete. Will my interviews go differently from others because of my situation? What techincal/behavioral questions will be asked that are specific to restructuring? Any other advice is appreciated.
Your interview will be 90% similar to an interview that a H/W kid would get. Also, they hire interns from other than those two schools so don't be intimidated. They will start off by asking about your background, why you want to do banking, why restructuring, and why blackstone. Then they'll go into technicals that will be banking related and then restructuring related. It will be challenging and you will not have any slack cut for you because you're from a midwestern non-target. Blackstone just wants the smartest students.
if the answer is simply that I was a jock who partied in high school, what should I tell them? I would have gone ivy if I had the grades......
Thanks. I am currently in my Finance 301, the introductory course, so I think I am very very behind knowledge wise. doing my best to catch up but what is the best reaction I can give when I don't know a technical question?
you should read the case study from HLHZ. it will help a lot with getting to know what restructuring is and being able to speak about it.
Blackstone Restructuring First-Round Interview (Originally Posted: 09/25/2009)
I have a BX Restructuring first-round interview in-person in NYC next week. Can I anticipate an interview that's longer than the typical 30min? What sort of questions?
To give background, I have previous restructuring internship experience (but not at an IB) with a relatively quantitative co-major, and go to a target school with limited BX representation.
(Probably obvious where I go to school now.)
bump
did you apply thru columbia's career site or is this thru a referral? just curious
Blackstone Restructuring SA Interview (Originally Posted: 01/25/2011)
I've done some searching but everything seems outdated.
Any idea what to expect from this interview?
bump
bump
BX Restructuring (Originally Posted: 01/05/2013)
Any tips on the SA interview? There have been many threads on this but almost no replies. Thanks!
because most people who use this site are not good enough to get an interview there. No offense to anyone but it's true. The vast majority that use this are people who need help with everything. The ones who can get those interviews are usually overachievers and can figure stuff out on their own with a search etc.
PM me
blackstone restructuring interview (Originally Posted: 12/14/2007)
i have a blackstone restructuring interview next week- what should I expect? are they techincal, mostly fit? What is their culture like/pay?
Bump- I am interested in this as well.
although i have never interviewed w blackstone's restructuring group, i did work at Rothschild's for a few years so i'll try to provide some advice on what to know for the interview:
Capital structure - understand different types of debt securities - ie difference between bank debt vs. bonds (secured vs. unsecured), different interest rates PIK / cash pay, redeemable preferreds, convertible preferreds, warrants, etc. ..and implications of this is a restructuring. holders of secured bank debt have all of the leverage so usually the company ends up negotiating with the unsecured bondholders (sometimes concessions mean all or part of the equity is wiped out)
Cash is King - understand how to get to a proxy for cash flow (EBITDA less capex less cash interest less change in Working capital etc etc)
read up on Chapter 11 and understand the basic of the law. voluntary filing / prepackaged deal (negotiated with creditors) vs. forced.
Is this for a first year spot? If so, just demonstrating intelligence and an eagerness to learn and work long hours (if you get the job, you will be super busy in 2008 heading into a recession -- but probably on real deals, not pitching)
This will be for SA 2008.
A large part of the interview(s) will revolve around your reasons for wanting to do restructuring vs. M&A/everything else.
I would prepare a few stories that you can speak to - restructuring processes you have followed that seemed interesting, for example. The interviewer of course will know that you researched them purposely for the interview, so maybe lead in with, "I've heard it is a great group because you learn so much about finance, how to actually structure deals, almost no fluff - in fact I got so interested I researched some previous deals..."
Otherwise I would echo WallStreetOasis above and focus on demonstrating intelligence, eagerness to learn, work and get worked.
I assume knowing the interviewer through a "reaching out to alum" basis can only significantly help your chances?
Though sometimes it can hurt if he/she doesn't like you. Sometimes I see resumes of people I know from my college days and know immediately that they couldn't do this job or aren't qualified. In this case knowing me actually hurts them.
But I'm assuming this is not the case and you have good rapport with your interviewer. :)
what school do you go to? Do they even consider semi-targets?
Target; I've heard that they don't even look at people that do not go to their targets, unless you have an in.
Oh ok. I was worried I missed a resume drop. I'm guessing this post isn't for a SA position. They start SA interviews Feb. 13th.
This is for SA... The drops must not have been complete at your school then.
thanks WallStreetOasis.com. you post really helps.
could you please say a bit more about the possible interview questions for a 1st year MBA, assuming limited corporate finance experience before and strong desire for restructuring group? will it be very tech? thanks!!
Bump- anybody have any more info on Blackstone's Restructuring group?
I've got an interview here too. Any more info is much appreciated
And maybe I should mention that I have no idea what restructuring even is. Is there a particular deal that would serve as a good example? Can anyone help point me in the right direction? Thanks
nevermind, got it:
http://www.wallstreetoasis.com/node/3198
thanks WSO
Please tell me what questions they asked
which deals
which breain teasers which guess estimates
bump please
bump
First Round Restructuring Interview (Originally Posted: 09/25/2009)
I'm an MBA at a top-15 program with a first-round interview with a few alum next week for an associate internship next summer. Think Lazard, BX, Jefferies, etc...
Just wondering what I should expect... I have no prior IB experience (5 years in S&T). Will it be largely behavorial or technical? Both? I have my "story" down but what should I focus on studying leading up to it?
Happy to offer b-school advice in return.
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