Preparing for Interview with MD

I have a personal phone/in-person interview with an MD at an elite boutique bank. He has over 25 years of experience in the field. How can I properly prepare for this? I want to nail it. I have done research on both him, as well as the firm. I have not traditionally been interested in IB, something originally more quantitative but I want to crush this.

What is the best way to prepare for this?
What is the best way to impress someone like this?
Should I go in just seeking info or push for a position at the bank?
How would you go about this personally?

Any information, advice, suggestions are much appreciated.

 

When interviewing with somebody that high up the food chain, I would not expect many (if any) technical/etc. Also from your post, it seems that this is NOT a job interview but the MD is doing somebody a favor and/or you're networking.....which is fine, that's how many people get their foot in the door. That being said, do not push for a job unless somebody has mentioned a specific role.

However, if you do want a job at the company, do some research on the firms' core values (philanthropy/diversity/etc) and craft a story as to how that pertains to your life/experiences. As you mentioned, do plenty of research on the MD and ASK THEM QUESTIONS. A cardinal rule of speaking to any human is that everybody loves talking about themselves. That being said, ask them questions that show you did your homework. For example, "Bob, I know that you spent 10 years at Company X before making the switch to Company Y and now you have been here for 20 years. That speaks volumes about Company Y, what do you feel has been the most important factor in you wanting to spend 2 decades here?"

If it is in person, wear a suit & tie, no exceptions... even if it's supposed to be 'informal.' Most importantly, be yourself, be humble, be curious.

I will leave you with an all-time favorite quote... "Success is when opportunity meets preparation" - Zig Ziglar.

You have the opportunity. The rest is up to you.

 

He wouldn't be meeting with you if you hadn't passed the technical questions and impressed the other people who interviewed you. So I guess he just wants to get to know you and maybe also find out how you think outside the box / and whether you are able to see the bigger picture.

So prepare questions about your hobbies, your ambitions, where you see yourself in a few years, and also be up to date on current events in the industry. Have your opinion on these events. Basically be able to have some smart and professional chit chat.

Also prepare questions to ask him.

Writing about travel at Karate and Caviar
 

The above regarding technical.

Just try to have a conversation and find some similarities. Check him out on Linkedin and just generally google him. Other than the same school, see if you share any other commonalities and expand on them: if you see he does charity work for blind & mute Inuits and you're a blind but not mute Inuit, bring it up. It's also best to ask advice on how to break in: what clubs and ec's you could do, any other alums you could meet with at his bank or at others, etc. Do not ask for a job or internship next summer but ask how you could best prepare for that and let him throw it out there that he'd be a reference. And ask if it would be ok to follow up in a few months and just figure out ways to bring something pertinent up on why you're following up, i.e. "I took your advice and joined the left handed purple PETA finance club and it's been eye opening..."

 

In my experiences, interviews with MDs and up have been more fit based than "technical". However, they want to know you have a general understanding of finance, so while they may not ask you to walk them through a DCF, they may ask you to talk about your thoughts on the economy as a whole, where the markets are going, etc. Don't completely ignore the technical questions though, the last thing you want is to walk in to the room and have that MD who is the exception to the rule and just wants to grill you on bond yields (which I have also had before).

You need to keep up with recent news, the economy, anything the government is doing that may effect the financial markets/banking, and you also need to pass the fit test. Connect with the MD on a personal level, try and find something you have in common with them. If I were to see a picture of the MD with three buddies on a golf course sitting on his desk, I may bring that up since I play golf.

Find something you have in common with them and can connect over and you are golden.

Good luck.

 

Yup, definitely more fit as posted above. While they generally don't have true technical questions, in my experience they have questions related to the broader economy and market movement. They seem to ask things in a more casual way, which can be good to calm your nerves, but definitely be careful you don't get too comfortable and start talking like you would to your boys.

Also, try to find out what group they are in. If you can ask about a recent deal and actually have some interesting comments on it, thats a big plus. At one superday, I had spoken with an associate a few days prior to about a big deal that had recently been announced. When I saw the list of interviewers, turned out I had one MD from this group. I brought this up and basically repeated some of the lines I heard from the associate. The MD loved it and was surprised I knew as much as I did... shortly after got an offer.

 

It sounds like a final round. Higher than MD might be partners but I don't think they will interview you. Questions are the same but amount of technical questions might increase. They will definitely look if you fit well within the company's culture.

 

Thanks for the response man. I am on the fence whether technical or fit type questions will increase. I can't imagine interviewing with partners, as it is quite a large firm with office around the nation. He is the MD for the office I'm being looked at for. Hopefully all goes well.

 

It looks like you're prepared. I doubt if the MD will give you any hard time since the whole group has already provided very positive feedback. Best of luck dude.

Just don't shit your pants.

Invest first, investigate later.
 

Thanks man. I've prepped quite a few times for this specific role at the firm throughout the process, just going over the history, what they do, pulling info and nuances from previous interviews with VP's and making sure my technicals are sharp.

 

I don't think that the MD would ask any technical question. Just be friendly, humble, and put a big smile on your face.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 
researchresearch:

Is the MD a salesman, trader, salestrader..? If he's a salesperson then it will probably be more about communication skills and just seeing if you can converse well about the market. Trader would be more technical.

FICC is also a pretty big area so can you narrow that down?

I cannot unfortunately, when we last spoke and we talked about his role he was fairly general in all his answers. He lists his title on as MD of FICC so I'm not sure which specific area he deals with but I believe his background was more in FI so I'd tend to believe that's what he would be working with now. I'm not sure how this particular bank structures this part of their business, so I'm not sure if he's more of a sales guy or a trader.

We were very time-constrained the first time we spoke and he was interested in speaking about me so I didn't get a chance to drill down specifically to what he does on a day-to-day basis. He gave me more of a general description of where he had come from in his career, and his background. When I asked about their FICC department he gave me more generalized answers about how it functioned in general. If I had to guess I'd say he's in a client-facing role but I can't be sure. If you're a BB MD in S&T are you ever still a trader? Or are you just managing people at that point?

"When you stop striving for perfection, you might as well be dead."
 
Best Response

Just wanted to keep this thread updated in case anyone was hoping to learn from my experiences here.

Meeting was 10 am yesterday, was a little unsure going in how it was going to progress. Turns out that the MD I know had arranged for one of the 1st year analysts to meet me first. He met me coming right off the elevator, and walked me through the trading floor and pointed out all the different areas. We then went back to the MD's office and had a conversation for maybe 20 minutes just about what his role was there, how he got there, and what he's looking to do with his career. He asked me some questions about myself, and since he was about my age, we had some similar experiences at school, which was nice.

After that, I met with the MD, and since we had already spoken on the phone and had a few emails back and forth, we mostly just talked about the industry, where he sees it going, how things are progressing for the FICC group at this firm, and just in general what the picture was looking like for the fixed income market (his area specifically) going forward. He was pretty helpful and straightforward, really nice guy and definitely a very honest person. He told me that they definitely look to hire on more of an "as-needed" basis, since the Chicago office is so much smaller than NYC. In fact, the analyst who met me was hired there on a last-minute basis, as he had gotten to know this same MD and kept in touch with him, thereby putting himself in the running when they had a position open up.

I don't want to give the firm away, although I could say of all the BBs it's potentially seen as the most "prestigious"...I hate that word. When speaking with this guy, I was shocked to hear a few things. First, for the Chicago offices at least, they have greatly reduced (eliminated in the case of S&T) OCR for FT positions, usually preferring to go after the internship class. They do very little hiring that isn't from their internship class, however it does happen. It's more of a size issue, there just isn't that many positions to fill. Again, the S&T offices are very small in Chicago.

He had some great insight on the direction of things, and especially on the current state of regulations. I could expand on this, if anyone wants to know more I definitely can. For now, I can say that it sounds a little less upbeat for FICC, and it certainly sounds like things are not even close to "back" yet. Of course, you can see that from the outside if you dig enough, but to hear the first-hand accounts from someone at a high level who deals with this every single day is extremely valuable.

Finally, I met with a VP in FI Sales (directly under the MD) who also spoke with me about how he got to where he is, what he does on a daily basis, and also got to know me a little bit. He was able to offer some great advice on what they look for in someone looking to break into the industry, and specifically what they look for in new hires on their desk. One word: Macro. In a sentence...Develop your macro viewpoint. Stressed this highly, and it makes perfect sense.

All three guys were incredibly nice, easy to talk to, knowledgable, and helpful. I really enjoyed it, and honestly it just made me feel even more strongly about going in this direction (hopefully) for my career.

I know that this is all very specific to my experiences, but honestly...the week leading up to this I had no idea what to expect and no idea what they would ask me or what they'd want to talk about. I just tried to stay up on general economic news for both the US and world leading up to the meeting, and I'm glad I did. Definitely was able to pull on my current events knowledge in all three conversations, which I think was a huge plus. I enjoy reading that stuff anyway, but it's always nice to be able to use it and have a discussion with someone who's also interested in it.

Not sure what will come of this, but I seem to have left a good impression based on the replies I got to my "thanks" emails today. Hopefully has a positive effect at some point.

"When you stop striving for perfection, you might as well be dead."
 

Totally fit based, at least in my experiences and kinda tough to bullshit. Obviously the MD's are pretty smart and can see through the BS answers. So just be yourself and hope that it turns into a conversation more than an interview.

 

Interviews with MD's are way more fun. They tend to be a little more relaxed (in my experience) and they're not afraid to just give you shit if you merit it. This is usually a good thing. I remember I sat down with an MD at some point (back when I was interviewing for SA S&T positions) and he asked me, "So, what's with you? What do you see 5, 10 years down the road for yourself, career wise? Do you want to save the world or something?" and i laughed and replied, "actually...i just want to make a lot of money." He loved the answer. But it's honestly dependent on how you read people...some people wouldn't find that amusing, but I had a feeling from my convo with this guy that he was pretty good humored. I ended up interning at that specific bank.

 

Obviously don't say anything that sets expectations too high, like "I'm really good at finance" because they will grill you and quickly discover that you in fact know nothing compared to them.

I agree with HerSerendipity - a lot depends on the person and your read of him/her. For some MDs you would not want to say the "make a lot of money" answer, others might find it amusing.

I would just be yourself and make sure you have well-thought answers to career goals, future plans, why you're doing this, etc. because that is what they'll focus on. Some of my friends actually found these to be the easiest of the interviews they had because the MDs tend to only be concerned with high-level answers.

Just a warning, though - MDs will also have the most say in the recruiting process, so a "no" vote from them is essentially going to stop you from getting the job. So be careful.

 

Would also be interested in this. I have an informal meeting coming up in a similar situation.

I like to ask what kind of intangible qualities (outside of being smart, working hard, etc) allow someone to continue to progress in such a competitive industry

 

I've had interviews for MM IBD & S&T in Canada with the MDs and Senior Managers. We had a good chat about sports, family, and the like. Definitely find some common ground - in my case, I've had a lot of musical experience professionally, and it turns out that the MD's son was coincidentally part of a musical that we ended up doing together.

Mr.Mathie | Ideas are nothing without execution - Jeux de Commerce Central
 

The order of your interviewers is highly dependent on their schedules and what else is going on that day.... the MD might have only been available at that time or something.

Generally everyone who interviewed you will circle up later on and come to a consensus on a hire/no hire decision. Obviously the MDs will weigh in most heavily but everyone has a say.

 

Yeah I know, but I am just curious how often this happens (getting the offer when you get the thumbs up from everyone except the region head).

It's all speculation that I didn't do well, or as well as I did in the other interviews. Gut feeling.

 

friend of mine felt the same way with the director of North America that they bombed interview they ended up getting the job. This upper level guy was intentionally put into the interview to see how people dealt with such a super strong personality, his intention was to make you feel uncomfortable and see how you reacted to it.

"Oh the ladies ever tell you that you look like a fucking optical illusion" - Frank Slaughtery 25th Hour.
 

^ Thanks guys. But top honcho clearly wasn't trying to be tough - I just got a bit nervous on the phone. I think a guy like that obviously has veto power, but I'm just glad I get to meet with the head of the group (who I would work w/ directly) again to try and make up for it.

 

trust me, your MD probably forget how to do multiplication by now. And no, most MDs dont even know how to do a DCF but you should be always to prepared. If you want the job, you gotta cover all bases.

 

I had a MD in IBD at a BB tell me that I'm not eligible for the next analyst class because I graduated in May 2012 (assuming you did as well) .. this came from HR. I'm still waiting to see if an exception can be made. So, I wouldn't get your hopes up too high, although if he has some sort of position directly within his group, circumstances may be different.

edit - if you graduated this Dec. and not May like I think, you are in business pending he can push your res.

 

This is directly related to how much pull he has. If he really is a BSD and likes you... absolutely you can get a job from this.

You can define BSD at the Managing director level as follows: 1. Could be head of the sector group 2. Rakes in more deals than the head, so is paid more therefore allocated more resources

When you talk to him try and be more "high level" and second you want to "prove" you really want to do IBD and nothing else. At that level they ask you much less in terms of technical answers if its just a "get to know you" situation. The lower on the totem pole you go the more likely they ask you technical questions because they don't want to teach you.

Have a good reason why you want to work for him/that team... IE: maybe you're interviewing for the best Med Tech banker out there in that case name deals/tombstones etc...

Finally, if this does not pan out... Do not throw away his contact info. Make a good impression and hit him again when the regular cycle of interviews are coming up.

 
WallStreetPlayboys:
This is directly related to how much pull he has. If he really is a BSD and likes you... absolutely you can get a job from this.

You can define BSD at the Managing director level as follows: 1. Could be head of the sector group 2. Rakes in more deals than the head, so is paid more therefore allocated more resources

When you talk to him try and be more "high level" and second you want to "prove" you really want to do IBD and nothing else. At that level they ask you much less in terms of technical answers if its just a "get to know you" situation. The lower on the totem pole you go the more likely they ask you technical questions because they don't want to teach you.

Have a good reason why you want to work for him/that team... IE: maybe you're interviewing for the best Med Tech banker out there in that case name deals/tombstones etc...

Finally, if this does not pan out... Do not throw away his contact info. Make a good impression and hit him again when the regular cycle of interviews are coming up.

He is head of his sector group and made probably one of the biggest deals last year. His name is all over the news. The division he works for is actually what interests me the most and I have a lot of knowledge and background info on him and the company. I'll def do my homework for the next couple of weeks and prepare.

I graduated Dec 2012. So, I think I'd be eligible for the Class of 2013 analyst program.

 

Yep you could get a job from this for sure...

So your best preparations would be below: 1. Reason why his group/sector 2. Name drop some info BEYOND his major deal so it shows you did research (I would name drop the major deal and then another one maybe 2-3 deals back so it implies you keep your eye on the market) 3. Have your story IRON clad strong, feel free to post/pm or whatever he will absolutely ask you about your history/why you want to do it. 4. Be happy not nervous. This sounds "lame and stupid" but its the truth. When you pick up the phone people can feel your personality immediately. This separates average people form good workers in some cases. He wants to be talking to someone who has a positive attitude. 5. Have a sector/stock in mind with some basic investment thesis "high level" (tablets versus PC's would be an example everyone would be aware of) but of course choose one related to the space.

Thats pretty much the basics, assume you know the simple finance stuff but would peg the chances of him grilling you on financials at 0.0000001%.

The key to life is always the same "Is this guy cool and would i hang out with him". People always want to help people they like.

 
WallStreetPlayboys:
Yep you could get a job from this for sure...

So your best preparations would be below: 1. Reason why his group/sector 2. Name drop some info BEYOND his major deal so it shows you did research (I would name drop the major deal and then another one maybe 2-3 deals back so it implies you keep your eye on the market) 3. Have your story IRON clad strong, feel free to post/pm or whatever he will absolutely ask you about your history/why you want to do it. 4. Be happy not nervous. This sounds "lame and stupid" but its the truth. When you pick up the phone people can feel your personality immediately. This separates average people form good workers in some cases. He wants to be talking to someone who has a positive attitude. 5. Have a sector/stock in mind with some basic investment thesis "high level" (tablets versus PC's would be an example everyone would be aware of) but of course choose one related to the space.

Thats pretty much the basics, assume you know the simple finance stuff but would peg the chances of him grilling you on financials at 0.0000001%.

The key to life is always the same "Is this guy cool and would i hang out with him". People always want to help people they like.

This guy knows what hes talking about, nice stuff WSPlayboy. Goodluck OP, this is a golden opportunity! Keep on grinding.

I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG
 
WallStreetPlayboys:
Yep you could get a job from this for sure...

So your best preparations would be below: 1. Reason why his group/sector 2. Name drop some info BEYOND his major deal so it shows you did research (I would name drop the major deal and then another one maybe 2-3 deals back so it implies you keep your eye on the market) 3. Have your story IRON clad strong, feel free to post/pm or whatever he will absolutely ask you about your history/why you want to do it. 4. Be happy not nervous. This sounds "lame and stupid" but its the truth. When you pick up the phone people can feel your personality immediately. This separates average people form good workers in some cases. He wants to be talking to someone who has a positive attitude. 5. Have a sector/stock in mind with some basic investment thesis "high level" (tablets versus PC's would be an example everyone would be aware of) but of course choose one related to the space.

Thats pretty much the basics, assume you know the simple finance stuff but would peg the chances of him grilling you on financials at 0.0000001%.

The key to life is always the same "Is this guy cool and would i hang out with him". People always want to help people they like.

Yeah, I think I can prepare well for this. He's head on TMT--more specifically: Internet space. TMT is what really interests me and I follow those sectors the most, especially in the market.

I'm also a double major in engineering; Biomedical Engineering to be more specific. The whole tech thing is another part of me that I really have a passion in.

You think dealbook would be a good place to find details on this person past deal history?

 

The company website is your best bet, pull up tombstones on the TMT sector in that arena.

Would avoid talking about facebook and actually if possible talk about two different sectors. Internet is the easiest space in the world and requires zero skill or knowledge so everyone is "interested" in Internet. Of course it has the most activity as well...

With that said you can just mention one internet deal and then one different type of tech deal (if possible find a bio tech deal so you can spin yourself easier as a good candidate).

Hard to tell by verbage if he is head of TMT or "internet head"... If internet head then yeah adjust commentary and stick with internet deals and again flush out anything that would make you spin your background easier.

Overall though, the key is much more about getting the guy to like you than it is about showing how "good you are"... the mid level guys decide if you're "good" because they will ask all the technical stuff. You basically want this guy to send you to be interviewed by the mid level people, he doesn't care about your financial skills because he only sees the end product anyway.

Same mantra, "How can i get this guy to like me"... If possible try to find any connection with him, same school, same major, same interest in tennis who knows. Making a connection is key.

 

Just make sure you're prepared with the usual. Story, b/s fit/behavioral questions, and technicals. As an MD, will he ask you them probably not... not even close, but its good to be safe and protect yourself to the downside. Just keep the conversation light and the pace moving. Bullshit w/ him, ask him questions about his experience, pointers for yourself, what he likes about the 'gig.

My one big piece of advice is don't 'overstay' your welcome, be in control and close on the right note by asking how stay involved or some shit. Aim for 15-20 minutes, but be flexible and responsive, if the call feels like its stalling out, just fuckin close. It's better to have a crisp, well-paced conversation for 10 minutes than a painfully slow, wrought with awkward silences 20 minute call. Quality over quantity. Also, its better to be in the drivers seat at this point in the call and have the MD actually think about it, and then respond versus him saying 'Oh shit, gotta go thanks' and you muttering out some like 'wait I... wanted to know how to...' and then he hangs up.

Stay loose. Go forth and Conquer!

'Before you enter... be willing to pay the price'
 

OP, if you do not already know, this is an informational interview and not an actual interview.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
 

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'Before you enter... be willing to pay the price'
 

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