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Essentially, I like to mix some cookie-cutter, some bank-specifics and some bank contact sentiment together to form a good answer. For the cookie-cutter answer, think of the usual - strong presence, works on big deals, access to senior bankers, valuing its junior resources, etc - honestly, it sounds a bit odd, but interviewers like the cliche - as long as you've got some quality mixed in with it.
For bank-specifics and contact sentiment, think of league table rankings, noteworthy deals that the bank has been a part of, and any interaction with current bankers that can provide some validity to your previous cookie-cutter responses.
Then, once you've hit on those points, show how these aspects of the bank are important to you (especially the transaction and bank-specific aspects) through your own background and experiences - this will further anchor your points and tie the response together.
Good luck.
if you are interviewing with a BB, say you want to work on the kind of deals that you can read about in the wsj if you are interviewing with a MM/boutique, say you want to have greater access to senior bankers and more in-depth deal experience.
Give'em the usual bs they like to hear no matter how cliche it is
That's not true. A smart/discerning interviewer would either dismiss your answer or mark you down as someone who doesn't know the firm well enough - neither of which helps you.
If you have personal contacts then talk about what you hear about the bank that impresses you. Other than that deal flow, strengths, exposure you expect to get by being doing what they're good at are all valid things to talk about. Culture is like the catch-all thing which can be mentioned but you better come up with a good reason as to why you think their culture is so. Vague generic descriptions of "good culture" will not leave an impression..
Why our firm? - How long should the answer be? (Originally Posted: 12/10/2013)
When interviewers ask this question, how long should the answer be?
Any rules of thumb on max length? I've heard anything from 30 seconds to as long as you want, since this is a super important topic.
Keep it short and sweet. You aren't going to impress anyone with the answer to this questions, only shoot yourself in the foot.
I would disagree that this is not an opportunity to impress anyone. It may not be a home run question but it does give you an opportunity to show you've done your homework as well as drop some names of people you've met.
In my experience it's best to break it down into two components: 1. What it is about the banks business/typical deals/exposure/product groups/etc that you have identified that have led you to where you are sitting at that moment. 2. What you know about the banks culture that leads you to believe you'll fit in well and get along there.
If you can clearly, correctly and convincingly identify these things then you can allude to them throughout your interview and before you know it their convinced this is the place you belong.
By the time you get to the interview, a large portion of what they want to know is how you'll fit in culturally-show them you have an idea of what that you can identify what that culture is.
It's not about time, it is about what you say. If it takes you two minutes to explain how you like the colors of the firms logo, so what you just explained how the color blue makes you feel. If it takes you twenty seconds to explain you admire the track record of tech IPO's the company has covered, even though it was 20 seconds long it properly displays why you want to work at said firm.
On top of any honest feelings you have [title denotes you feel indifferent toward this particular firm], use it as a chance to showcase some knowledge of the firm/industry. Knowing specifics of a deal the group closed last year show a genuine interest without explicitly saying you're interested
honestly I was always nervous of this question, but after recruiting at a lot of places for IB (non-BB), I don't think it's a big deal. I just say the work is going to be about the same wherever I work, so it's about the people. I really enjoy meeting X, X, and X during this event, and so I think I'll be able to fit in and contribute. Something along those lines, and maybe some firm knowledge that makes them look good.
"I wish to work at a reputable firm with intelligent people that are as hardworking as I am where I can learn the skills necessary to be a career __(Banker, Asset Manager etc). From what I can tell through my research, phone interviews coffee meetings etc etc ___(firm name) offers such an opportunity."
"because you gave me an interview"
"Why us?" Interview questions (Originally Posted: 10/17/2010)
How do you go about answering the "why us" question? It seems to me that nowadays all banks are the same, and they write the same on their websites. Their people are smart and helpful, cultures are flat, its all the same, and they offer pretty much everything their competitors do in terms of prducts and services.
What are they actually looking for when they ask you this question from a s&t perspective?
They are all the same, and therefore your answer should be damn near the same for each of them. I want to work for the best, insert unique point here, how about a handjob, blah blah, etc.
The best way to answer this, I have found, is to speak with someone at the bank before you interview asking why he/she likes working at bank x, then spit that shit back to everyone in the interviews.
Just give them an honest and sincere answer. Tell them you want to work at a bank with a solid training program where you can learn from and work with the best in the industry.
If I was the interviewer (for any job in finance), the question I would be asking is not why our firm but why our industry?
i think sometimes honesty can ruin ur chances of an offer. although all are similar in terms of culture, product and services, they are distinguishable by their rankings and markets. GS, MS, UBS, Deutsche are all global for example, but if you had an offer for hte same fixed income trading position in one of those companies in say NYC, and all have similar work conditions, smart people and flat cultures, your going for the better pay/ better brandname. That's what companies might be afraid of, is that you bail out on them after receiving several offers. so they are trying to make sure with certainty that after they extend an offer, that they will get you and will not have to interview other candidates, assuming they don't have a back up.
they aren't worried about you going for better pay at a different firm because they all pay the same more or less... they want to make sure that you know why you're there... they want to see that you have a reason for why you want to work there specifically because they are the ones that are stuck with you for 2 years and it needs to be the right fit... fit questions have a purpose...
why working for Barclays Capital (Sales)?
If Barclays Asks Me Why Our Firm...... (Originally Posted: 09/24/2013)
What would be some solid answers for investment banking? There is barely any information about the IBD on their website. Also having trouble finding recent deals they have worked on. Would greatly appreciate any insight.
Having trouble finding recent deals? They're a BB and worked on some of the larger deals this year. To name a few:
Smithfield Perrigo / Elan Verizon / Vodafone (everyone pretty much worked on this one though) Thermo / Life That's just a few off the top of my head. I suggest Bloomberg or CapIQ if you have access, if not, google and dealbook will suffice.
In terms of their IBD, they're like pretty much every other BB. From what I remember, they push a friendly, collegial culture (as does everyone). Your best bet is to say "I spoke to x, he told me about y, which really resonated with me because of z". Mention how their moving up in the league tables which is great because you want exposure to a variety of big, exciting deals, stuff like that. It's cookie-cutter stuff, you just have to actually make it meaningful.
Balance sheet is always a good answer for a firm with >$1 Trillion in assets.
Barclays has a lot of expertise and coverage in Europe and Africa.
Agree with point #1.
On point #2, Barclays has actually pared back EMEA and APAC in its recent rounds of cuts (largely APAC) so this answer might be a little questionable
(double post)
If you're interviewing with coverage: M&A is within coverage so you own the model at all times (unless Sponsors).
This can definitely be a benefit but it isn't that much of a differentiator versus working in an M&A group. It's better to phrase that you like the idea of coverage because you are interested in covering the given industry and the opportunity to work on all types of transactions, including M&A.
I love how everyone always advises to use the whole x-y-z shit. It's no doubt a great strategy, but OP probably didn't do this - which is why he is asking - and you can always tell who has memorized several interview guides.
Don't currently have access to Bloomberg or capital IQ. I googled Barclays deals and got nothing. I will try harder, thanks for the feedback.
Would appreciate additional input also. Thanks
the fact that they're based in London and have grown so much in the US these past 5 years. They also worked on the seaworld IPO
Okay, just found something great. The Deal Journal on the WSJ looks solid. Have a WSJ subscription so this should help.
Nevermind. Deal Journal is a blog on WSJ and hasn't had a post since May 8th. That won't be sufficient. What would be the best way for me to find ongoing deals and recent ones?
Click thru and see which ones they are listed at: http://dealbook.nytimes.com/category/main-topics/mergers-acquisitions/
@stvr2013 lol @ collegial nature - everyone says this but once you get in it's game over
For 2013, they are ranked #9 globally on ECM deals ($24.6bn), with 5% of market share, just a notch behind CS. Biggest deals for the year include Ziggo, Williams Partners, Lyondell Basell, HCA Hldgs & Hertz Global Hldgs - plenty of US companies in the mix.
Appreciate everybody's input. I will post relevant info here. Thanks
Is this for first round?
You're trying to be a go to nigga at a go to bank
The "Why Us?" Question (Originally Posted: 09/23/2011)
Hey everybody,
I am currently in the process of applying for summer internships in the UK (S&T) at BB banks. I think I am pretty well prepared for most interview questions that can be thrown at me except one that I seem to continually struggle with: "Why do you want to work for us as opposed to our competitors"? Now the truthful answer obviously is: "I don't really care because you are essentially the same anyway for my purposes" but as that is unlikely to go down well, I am wondering: How can I come up with information about something that sets one bank substantially apart from the others. I know, I know, do your research you say and I agree. But where would I look? (I know of course that according to their websites they are all the most innovative, have the best people blabla, but I really don't feel like just feeding such obvious nonsense back to them) All input would be appreciated.
I usually refer to campus presentations or read in the vault career insider. If you don't have access to those, I hope this post at least gave you some ideas.
Banks TALK TO VARIOUS CANDIDATES in interviews to find out which one would be a good fit. So what do you think you can do to find out which one would be a good fit?
talk to people there and ask why they like it and use those reasons - most will work, especially the ones that come from the younger kids
^^^^Yup.
Thank you everybody, I suppose I will soon grace some investment banking fair with my presence. :-) I am just a bit worried that I will get some generic answer along the lines of the stuff on their websites. Any more ideas?
@buybuybuy I do of course see your point but I was less interested in personal fit than in generic difference because that is a question you get asked a lot quite early on, even on application forms.
@Hastati I will have a look at the Vault guides, thank you for the idea. Edit: Done it, the Vault Career Insider was REALLY helpful, a thousand thanks.
There are a few generic go-to selling points for each of the banks
GS - They love guys who like to win and compete, stress competitive nature but not overtly CS / UBS / C - Large global footprint... talk about potential willingness to work abroad at some point (even if you don't lol) Any boutique - Unbiased, pure-play advisory
Every bank is going to try to sell you on something that another bank can also provide. But just emphasize what they say and forget that other banks can provide it too.
@ballmouse Yes, I considered that. Annoyingly though, the question "Why are you applying to us and not competitor xyz?" is exceedingly common over here from what I can hear.
I usually lead off with a bank-specific reason or two and then backload my answer by talking about people and culture. This is a perfect transition to name-drop (in a smooth and inconspicuous fashion) by saying you did informational interviews with such 5-10 people* at the bank. The name-dropping solidifies your reasons because it truly shows that you are committed to the bank and worked hard at learning about the bank / people.
*Assuming you worked hard and actually networked with people
@Vancouver Canuc That sounds like a great way to leverage the few actually distinctive facts about each banks for great effect. Thanks for that!
You are welcome. You have to be good to be lucky so as long as you work hard at networking, good things will come of it. Networking is especially crucial for OCR. In my last three interviews in fact, my superday interviews were conducted by bankers whom I already did informational interviews with... And if you name-drop additional certain colleagues they know, it becomes a conversational chat about knowing so-and-so and the insights you learned from your other informational interviews. This is key because it shows that you are not only answering the "Why us" question with your mouth but also voting with your feet (by hitting the pavement, meeting people and commiting fully to the firm).
I've had this come up in a MM interview, I said that their rapid growth, strong culture and lack of an up and out culture made me interested in them. I'd talk about interactions you've had with employees and turn it into a comment on firm culture.
@VancouverCanuc Yes, I think yours is the way to go. Now I just need to develop the required networking stamina.
@futurectdoc Don't you feel your answer was a bit too generic? It sounds like it would apply to quite a few firms. Taken as an answer without further requests?
There are some things that I'm leaving out because it would identify the firm, but they all come back to those main talking points.
Why [Firm Name]? (Originally Posted: 10/15/2010)
Any way not to sound generic?
use the fucking search button
Disregard these redundant comments that say use the search function. Go look on the firms site or if its a public company, check out its 10K. It should have a listing of its closest competitors and how it differentiates itself from the industry. Also, look into what geography the firm does business in, its customers, its founders, its goals, and where people have gone after their stint at said firm
If you've had the opportunity to speak with anyone at the firm, definitely mention that the firm's people is one of the reasons you want to work for them, and maybe even name the names of some of the people you've had the opportunity to speak with.
This may seem a bit over the top but I once went on to the SEC site and looked up a (smaller) firm's 13F from the most recent quarter and when they asked I was like "because I like the balance of such and such holdings with an emphasis on blah blah blah and investment strategy interests me blah blah blah" shows you're prepared. This would obviously not work with a large institution but it worked for me.
obviously, it depends on the specific firm--every bank prides itself on some aspect of its culture (citi-international presence , goldman-teamwork, credit suisse- internal mobility, client focus, etc.). they like to see that you know what it is in interviews, even if it's not necessarily true (e.g. credit suisse and internal mobility). the best way to find out what the culture is at a bank is to ask someone who works there that you know. if you don't know anyone at the specific bank you are interviewing at or if you don't feel comfortable asking anyone you do know, reach out to someone else who works at a bulge bracket and ask them what the culture is of the different banks on the street.
I can't say the above methods aren't good. But I would suggest an easier approach.
I always said something like this: I've met a lot of people here in the firm/group over the last few months and feel like the group would be a really good fit for me. Then say something generic about the reputation of the training program and the strength of the platform since the firm survived when others didn't.
That's a safe answer in my opinion.
Check out the financials, e.g.,
I did some research on Firm, and was particularly impressed with your [generic quality].
More specifically, Firm has a very aggressive growth-oriented strategy with very high retention. In fact, earnings growth has increased x% from comparable 2009.
Knowing x tells a recruiter that you also know y and z. Also, knowing a specific number like 18.71 comes off as very impressive.
Try it out some time.
I've noticed banks that improved their positioning after the credit crisis like to mention what a great place it is to be going forward. ESPECIALLY CS.
I think mentioning "the people" is probably the most important part of the answer.
I think if you get into some metric on their balance sheet or retention rates they could easily point to an example where that hasn't been the case and ask you why you think that. (or they could say well that is the case at many banks and that doesn't answer the question why "this bank")
Maybe that approach works for you, but for those kids in school who are trying to get through the process... I suggest playing it safe on questions like this.
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