What to expect during first round phone interview?
I have a phone interview coming up with a VC firm with around $100mm+ AUM. I don't really know what to expect and it's with a partner at the firm. I don't have any prior professional financial internships and am a rising junior at a target. Any tips?
Research the firm (if any information is publicly available), write down a list of what you can provide them as a resource and any relevant course work experience, tell them your aspirations.
Don't sound desperate.
Achieve.
Expect them to ask you what you're wearing right now
Have a potential investment idea for them ready to offer up. Most VC shops have interns doing some form of sourcing or market diligence. Having a company or sector on hand shows that you've researched what the firm does and what would fit their investment profile. Make sure to be able to talk about the company, why it's differentiated, overall market/ competitors. Shouldn't be too hard to do and it's a good mental exercise during interviews to show your approach to investing.
My first phone interview began with the formalities first, my background, leadership experience, examples of how I dealt with deadlines in the past, etc. Then the major question that was asked was "why private equity". I can't attach a link since this is my first post, but having a well thought out answer to that question helped me a lot. You can Google some of the things you can say depending on your experience, but personally I didn't use any of those answers I found online since they probably hear the same ones over and over again. I didn't have to do anything technical over the phone for the first interview, but I'm also just an intern right now so I'm assuming full time career ones will be much more difficult than mine. Hope this helps.
Phone Screens (Originally Posted: 01/27/2011)
I have phone screens with a few banks and wanted to know if the banks will tell me which day and time they'll call me prior to the phone screen? I am assuming I can tell them which time works best for me due to my class schedule, right?
Also, from what I hear a phone screen can be anything from HR calling you about your previous work experience to a regular interview. So in general what have your phone screens consisted of? Are phone screens considered as first round interviews?
It could vary from company to company but the few I have had has been with HR. They basically asked about my current role, why I am looking to leave, current salary, and my salary expectations. They further discussed the role I applied too and then schedule an in person interview with the team.
Thanks Bobb. My phone screens are in reference to SA IBD positions.
I honestly thought this was going to be about touch screens on cell phones.
Sorry to disappoint but could you guys please chime in if you've had experience with phone screens?
could use this info too please thanks
i got a phone screen from HR lead of KPMG a year ago and she appointed a local time to call me. don't know if this is the same for IB
I recently had a phone screen for IBD SA. I didn't get any sort of advance notice whatsoever. Guess you'll just have to be prepared to fire anytime. For me it was with an analyst at the bank and it was considered a first round. I was told if selected I would be invited to a Super Day.
I had a phone screen with a bank, not IB rather a credit analyst role, I had a few technical questions.
First phone interview (Originally Posted: 04/23/2016)
Hello,
I have a phone interview scheduled with a recruiter from GS. It is for an analyst position within the Global Compliance Division (Bank Holding Group). My background is as an criminal attorney, so I have limited financial experience/knowledge. Can anyone offer advice on interview prep and what to expect with the phone interview?
Thank you in advance,
bump
Wow? This is denfiently a reinforcement…. You have to always bring your ‘A’ game especially on the phone.. I am learning now after so many phone interview that I am a actor and I am audiencing for a famous role? and remembering it not about me but about the company and what do I bring to the table.
Go through online for some suggestions on their interview question patterns. You will definitely get an idea.
how to prepare for this phone interview (Originally Posted: 12/18/2016)
It's with a MD at a small boutique investment banking firm.
The internship is unstructured and unpaid, do you guys think I will need to have a stock pitch ready? Will it mostly be behavioral?
If it's IB, no one works on stock pitches so I doubt they would care about that. If I were you, I would definitely focus on learning my resume cold (work ethic, teamwork, interest, etc.). I would craft a strong and genuine story about why IB/why that firm. Also, try to just relax and always remember to upsell yourself as a good candidate, but don't go overboard.
Finally, learn the basic finance questions. Three statements, basics of valuations, cash flows, etc. The search function on here will help you with basically everything you need.
Thanks a lot. I already went over some of the basic finance questions including DCF, however, not really sure when to stop lol because I don't know what is considered basic.
Also, do you think he will ask what specifically in IB I want to do? Is there readings online I can do to learn more about M&A?
There are a few banks that do ask stock pitch questions, so you might want to have one ready. It truly is a dumb interview question, but if you get asked and have nothing ready, it's an auto ding.
For basic technicals I would know: - the 3 statements, what each entails, and how they link/interact with eachother. - the 3 main valuation methodologies (also know some basics about an LBO), and the pros and cons of each. - The inner workings of a DCF (how to walk through it, major drivers) - Different types of cash flow (FCF, Unlev FCF, Lev FCF), and how to calculate each.
- WACC and everything inside it (Cost of E, D and the calcs behind them.
These are for the most part the basics things you will be asked on a phone interview (if asked any). I'm sure there are others but impossible to list everything.
For LBO, could you explain this part:
Returns are higher if you use more debt? I don't understand the reasoning behind this and the wos tech guide does not explain it either
Phone Interview Help (Originally Posted: 02/08/2014)
So I come from a non target background and a lot of my first round interviews tend to be phone interviews. I have been dinged on several of them now (5-6) and I asked for feedback. While most places couldn't due to HR policies and such, one person did respond saying that I need to work on developing more of a personal connection with the interviewer and demonstrating more enthusiasm for the industry in general. The issue I have is that I'm having trouble with understanding how to connect personally with an interviewer for the following reasons:
Any advice or tips on how to do better on these interviews? It's far easier to establish connections and make impressions in in person interviews for me.
You may come off as too calm during the interview, and really dull with your tone of voice. This may be the reason for them thinking you're not enthusiastic, although you may me. This is something you can work on.
Could be something else though, but just trying to help. Best of luck, op.
@vdubben I appreciate the response! I can definitely work on the enthusiasm! It's the personal connection part I am having trouble with. Any advice there?
It usually happens when you over-prepare/think about the interview. One thing you could do is just stop preparing for the interview 1.5 days before the interview and read something really random, or just try to stay away from anything related to the interview.
This way when you pick up that phone, you are not prepared with any hardcore rote answers you learnt a few days ago. You will automatically come of as very natural and when you are natural, you will make that personal connection.
@Ambani that's interesting. I hadn't thought of that. I can see how my answers could come off as being rote. Thanks for that! So just to be clear there aren't any questions I can ask to make the interview more personal and such? Or establish a connection? I'm only asking because that seemed the logical place or time for me to forge a connection
Anyone else?
Phone Interview - What kind of questions to expect? (Originally Posted: 11/16/2006)
I have a phone interview soon with a boutique, what kind of questions can I expect?
Why banking? why here?
Why Investment Banking Why a boutique instead of a bulge bracket (Have a good answer for this) Why did you go to the school that you went to What have you done over your last few summers or school years that prepares you for ibanking Do you know how to value a company, how?
One of the most important things, I think (I'm going to be accepting my offer from a boutique pretty soon) is that you can convince them that you really want to be in a boutique setting instead of bulge bracket...more deal exposure, get to see things through from start to finish, etc.
Also try to make sure you know what sets this specific boutique apart from others...is it generalist, industry specific, solely m&a, etc. and be able to convince them that this is in fact what you want.
What to expect during phone "interview"? (Not a real interview) (Originally Posted: 11/16/2007)
I have a phone conversation scheduled for next week with the head recruiter for Lehman Asia. It isn't an official interview; she mentioned that she wanted to call me so that we could "discuss opportunities". Of course, I'm going to take the call seriously and treat it as an official interview. Anyway, I was hoping for some insight regarding what I should expect during this conversation. In the past, I've always applied through connections, and have never dealt with HR before. All my past interviews have been with Analysts, Associates, VPs, and MDs within the specific division to which I was applying. Is it different speaking with HR - is she just going to ask me where I want to work and why, or should I be expecting something more?
treat it like a "real interview". dress for one when you take the call(tie and all). Be ready with solid examples of when you were in a team, showed leadership etc...
You probally wont need any of this and it will be just a casual call but you'll kick yourself if your not ready and screw up.
Just a basic phone screen to make sure you're not crazy or socially challenged. Prepare to talk about your resume. Why Lehman, why Asia, why ibanking, etc. If it's an HR phone screen, don't worry about technicals or market questions.
Phone Screening (Originally Posted: 10/29/2009)
Hello,
I was cold called for a phone screening with a BB IBD. If the outcome is positive, how long does it usually take to hear back?
Thank you in advance.
Second this. Went through an elite boutique screening.
really depends on the group... i went through these with a few banks, and usually they let you know in a couple of days (after they finish a round of calls, maybe)
Phone Interviews - Shed any light (Originally Posted: 11/12/2010)
Hey Guys,
Just wondering anyone could shed any light on what a phone screen interview with JPM/UBS would be like for a SA position. Would it be more fit or technical? Thanks
This is obviously for S&T...ttt
Gotta be prepared for anything and everything man
i'm with downtown.. it can really be anything with that said, if you get someone that's from HR, then expect a list of the world's most common questions
Yeah, if you're interviewing with HR, then obviously it's going to be mostly fit/behavioral and you aren't going to get asked about trade ideas. But if you're interviewing with actual traders/salespeople (and I'm assuming this will be the case), then you could get asked anything... probably will be a mixture of behavioral, fit, why S or T, why that bank, and talking about the markets and trades. Why you have to be prepared for anything though is because even if HR gives the interviewer a set of BS behavioral questions to ask, the interviewer can completely ignore HR's suggestions and ask whatever the hell he/she wants. There are a lot of good threads on here about S&T interviews though, so definitely check those out. Here's a pretty useful one: //www.wallstreetoasis.com/forums/create-the-step-by-step-guide-to-attaini…
And last thing, try to get some practice doing phone interviews if you can. It may just be me, but I always felt a little uncomfortable going on phone interviews even though I felt perfectly fine doing in-person interviews, and I think this came across to interviewers... again, may just be me though.
Good Luck!
Practicing for upcoming phone screen (Originally Posted: 11/30/2011)
Anyone want to practice technical/behavioral interviews, pm me with contact info.
I'm not sure why I'd pony up when there are people on here who would be willing to do it assuming that you'd do the same for them. It doesn't even look IB specific.
How about you thank him anyway you prick
Help w/ phone interview (Originally Posted: 01/12/2012)
Hey I'm new here, but I need advice on an interview I have with UBS S&T. I'm from a target, but did not major in Business and don't know too much about UBS or S&T. I'm pretty good with numbers, but I probably cannot answer the basic question of why do you want to work in S&T at UBS? Any suggestions? Btw..this is for summer...
Its probably going to be all fit. At least mine was...i didnt do phone, but met with some heads at the office in ny
preliminary phone interview (Originally Posted: 12/26/2012)
have a phone interview for an internship with a boutique friday am. current sophomore at a nontarget.
what is an approximate breakdown of technical/fit questions? sounds like the interview will be conducted by an analyst but there might be the VP or MD on the phone too. it's a very small firm.
pretty nervous especially since I just found out about this tonight and I basically have 24 hours to prepare.
any insights would be greatly appreciated. this is my first real interview
Your first interview and only 24 hours to prepare? Good luck with that. I'd say you should start with a good story ("tell me about yourself") and be able to walk through a DCF.
24 hours is fine, just skim through the M&I guide (especially the basic accounting stuff), and prep especially to answer why you want to work at their firm, why banking, and why you're the best candidate.
Phone Interview for internship (Originally Posted: 01/15/2013)
I have phone interview soon with the PWM department at a BB. Does anyone have any advice on how to prepare for phone interviews?
phone interview just checks if u r a sane and talkable person i interviewed with them when i was a sophomore, no sweat
I doubt private wealth management internships will ask you terribly difficult technical questions. I’d imagine they want to gauge your interest in the financial industry. They might ask you about a book (finance or not) you’ve read, a stock pick and why you like it, summarize a recent financial event in the news. They honestly probably don’t expect you to know much of anything. They mainly want to know that you’re personable, dependable and will work hard for them.
The important thing is to stroke their ego by asking them questions about their career or personal interests (as long as it’s not too probing). It’s usually a good sign when the interviewer wants to talk more than you.
Thanks for the advice guys.
Is there an ideal way to answer the "why our firm" question?
phone interview advice (Originally Posted: 10/29/2013)
I graduated with part time-MBA in 2012 from one of the top 20 B-schools. But haven't changed my job from engineering yet due to Visa sponsorship issues. Currently started looking for opportunities in IB. I had couple IB phone interviews, but after I talk with them they point out my lack of banking experience. Not sure why is it such a big deal. I have performed top of the class in finance and accounting courses, finished finance team projects and case competitions all by myself. But not able to convince them that I can be on par with someone with banking or finance experience. I have another phone interview tomorrow, not sure what should I change about my conversation so that they get interested and invite me for onsite interview. any tips and advice?
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