Have a few interviews coming up, and I'm interested in how people generally answer these questions. I'll lay out my answers as well, and you can feel free to critique them. These are how I usually answer them, and I have never gotten any negative feedback from interviewers, but I've also not run them by anyone in a while either.
Why investment banking: Would discuss an interest in the fast pace of the job, but also allude to speaking with recent grads and people at the place I last interned and how highly they had spoken up IB as a means to broaden your skill set and learn an immense amount at a young age about a particular industry or set up industry. Would discuss that I know the work is challenging and the hours difficult, but at this point in my career (as someone in their early 20s) I'm prepared to handle that lifestyle.
Why (non NYC regional office): Here there are a number of ways I would answer it. I'm from Chicago, so if it is an interview for Chicago I would discuss personal reasons for wanting to be close to home, enjoy the city more than NY, etc. If it is another city- SF/Houston, I would stress that I am interested in the industries that the bank serves in those cities (Tech/Energy) and that I want to be in the location that is the hub of those industries.
Why Middle Market: Here I would talk about the appeal of working with the founders and innovators of the companies that MM firms work with- working in MM introduces another factor into the equation- there is a lot at stake personally for the CEOs and original founders who came up with this idea, and I think it is interesting to hear their ideas and work with them directly. Additionally might discuss the interest in working with firms today that have the potential to be much larger players in the future.
Why work at a smaller boutique firm and not a BB: Here I would stress that I wanted to be a part of a smaller team and not be 1 of 100 analysts in a class where I would be lost amongst all of them. Emphasize that I know at a smaller place the people would be much more interested in my career development and the progress I was making. Also emphasize the culture of the firm and the access that I would have at a young age to both clients and senior people in the firm (say access to senior people everywhere, regardless of whether or not this is true). Finally, discuss the increased responsibility that the firm gives to its analysts and how this idea of being challenged day in and day out is something that appeals to me.
Your why regional office answer sounds pretty good to me. I think for why MM you could tie in a little of the boutique stuff as MMs tend to be a bit smaller. You could also discuss the sheer # of MM deals that get done, and how that means you will get great experience in a really short amount of time.
All your answers sound decent, but I would try to tie in a quick personal example or a detail or two to make them sound less vanilla. For example, why IB you could mention a friend from school who is in IB who gave you the lowdown.
^Thanks for that- very helpful particularly on the MM question. Anyone else have any suggestions or just want to share how you usually answer these "standard" behavioral questions.
As a general rule, if you're interviewing with MM I probably wouldn't stress how they're "middle market," and you're excited to be working with smaller companies (since that's bullshit, and they know it). MM IB firms like to think of themselves as boutiques, regardless of whether or not it's true. Just talk about the boutique stuff: access to senior people, more responsibility, etc.
For example, if you're at Houlihan, the analyst across the table doesn't want to hear about how cool it is working with sub $1 bn revenue companies. He'd LOVE to be on that News Corp deal, and he knows you'd like to, too, given the choice. So talk about how his firm is smaller and you get to be with senior people, and how the teams are leaner so the experience is better.
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