ECM Interview - First Ever BB Interview!
I have a few telephone interviews next week (30 ish mins each) at a top BB.
I have only ever researched/interned in M&A and I'm not sure how they selected me. Nevertheless, I have nothing else lined up and want to smack these 3 interviews which will then get me the intern role.
Does anyone know how I can prepare? I am clueless what technicals etc to prepare for (if different from M&A e.g. valuation techniques, enterprise/equity value etc) and what I should expect. Any ideas? Any good sources? Anything I need to 'cram in'... haha
One interview is likely to be competency/why the location (I applied abroad)/why the BB type stuff which I should be okay with as I have solid answers prepared. The other two are likely to be general ECM related ques? Technical ques? I really don't know.....
Any help is greatly appreciated.






Source:
Source: http://www.mergersandinquisitions.com/equity-capit...
Q: Ok, so you didn’t recruit specifically for ECM – but I’m guessing you’ve interviewed lots of people looking to get in. What’s the recruiting and interviewing process like for ECM?
A: It’s not much different from normal investment banking interviews.
You’ll still get the typical questions on accounting and valuation, but you need to show more of an interest in the markets : how indices are performing, previous issues in a sector you’re interested in, and if you’re interviewing for a convertible debt position you should know how calls, puts, and equity derivatives are used and why they’re used.
They’ll also focus on why ECM vs. other groups – you want to say that you like the markets but you’re still more of a banker than a trader.
Covering derivatives, you’ll get a chance to close hedging trades, and work with traders to see if a convertible could be done in the current market climate. Equity originators typically interact with the sales force and are focused more on the story of the deal (ex: use of proceeds).
"I am the hero of the story. I don't need to be saved."
Pitching a stock is a big
Pitching a stock is a big thing. Know the basics of converts and their relationship to M&A in financing. Basic options knowledge. Why do an IPO? How does an IPO work? Basic accounting may come up. Tell me a story. Teamwork is big since you will set on desks with everyone. Why ECM... Know about the market and economy, have a real opinion Know what the banks numbers are.
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I went for a superday of
I went for a superday of interviews for an ECM position at a top BB for a summer analyst position. From what I remember, the interviews were VERY behavioral. However, I did get asked a stock pitch question - probably because I had an ER internship. They focused heavily on my past internship experience, being able to explain each experience in-depth, and detailing risks to my investment thesis. Knowing exactly what the role of ECM is important (sit on top of Chinese wall, etc).
Hope this helps.
Also - I came from a liberal
Also - I came from a liberal arts college / not a heavily technical background, so that might also have explained why I was not grilled on technical knowledge. ECM interviews, though, are less technical than traditional IBD interviews.
Good luck.
BB are still recruiting?
BB are still recruiting?
I interviewed for an ECM
I interviewed for an ECM position with a BB a few years back. I was asked the regular accounting questions and valuation questions you can expect in a cap markets interview. Also, I was asked my view on the IPO market, and equity markets in general.
'We're bigger than U.S. Steel"
WTF, HOW ARE BB STILL
WTF, HOW ARE BB STILL RECRUITING?!
do you mind disclosing the bank/location at the least, or PM it to me? i am shocked BBs are still looking, assuming this isnt a troll post, which i dont think it is.
what the fuck..
This is not a troll post. I
This is not a troll post. I applied ages ago but the analyst in charge of my app (I was invited to interview ages ago) kept going out of town so I was never interviewed. An intern actually withdrew their offer, they had my resume on file, so I got lucky. Hence Im working as hard as possible to score this.
View on IPO market - anywhere I can 'copy' mine from? And Im not being interviewed in my home country - should I know THEIR equity market developments or my home countries? How do I find this?
I have BIWS - that covers all the technicals I need right?
Anyone know a good guide to pitching a stock just incase I'm asked that? I don't think BIWS have anything like that...
Thanks!
btw - I knew someone at my university who got 0 job offers and then got a call from GS in June to intern with them because someone dropped out. he's now a full time analyst there. its all possible :)
hopesanddreams wrote: Anyone
Anyone know a good guide to pitching a stock just incase I'm asked that? I don't think BIWS have anything like that...
Analyst Handbook: http://www.box.com/s/95be1f229c51661b9cd9. (Page 8-9)
"I am the hero of the story. I don't need to be saved."
Thanks! view on IPO market
Thanks!
view on IPO market and overall markets? any ideas?
It looks like the IPO Market
It looks like the IPO Market is thawing...Annie's Foods, Facebook, ExactTarget, Vocera - there seem to be a lot of VC-backed IPOs. Does anybody else have ideas? Sorry I couldn't help much.
There was GroupOn also right?
There was GroupOn also right? Things seem to have picked up in 2012.
Some questions... 1) Know
Some questions...
1) Know about your home market, the market your being interviewed with, and generally about the global market
2) Know your resume, be able to give competency examples for fit purposes
3) Technicals - same as M&A prep except will they ask more bout the IPO process etc? or just the typical accounting, how do you value a company questions?
Finally - suppose you get an offer for ECM - how can you swap to a coverage group or something else? Is this even possible?
Thanks!