Hi everyone,
I have been following the site for awhile, I had to make a new username because I had my actual name in my old username. I want to say thanks to everyone for the info presented on the site.
I am a senior at an extreme non-target. In my search for alumni I found a MD who works at a very reputable investment bank. We talked a few times, but then he stopped responding to my emails. I let him know I applied to the bank, but never heard back from him or the bank. Recently I got an email from him (1.5 months since I talked to him last). He asked if I had heard from the bank, and if I hadn't if I would like to come in for an introductory interview. What does this mean, what should I expect in the interview? Mainly fit questions? Thanks
I would expect you will get mainly fit questions, but be prepared to answer tough technicals. It sounds like you are not going to get many shots at this so you need to be 100% prepared to walk through an LBO etc. Most important part is definitely your story but do not be unprepared if you get technicals
What to expect when your expecting...
i agree with the first response. Have your story down. And you must be very engaging when answering fit questions. Have concrete - and compelling - examples for these types of questions in order to impress.
Odds are they will want to see if you are worth your salt since you go to a non-target. In other words, expect technicals. They will probably want to make you sweat, so just stay cool under pressure. Here's a rough run down of things you should have down:
-General banking questions (ie what is investment banking, describe the IPO/M&A process for bankers, etc) -Accounting (walk through the statements, where do the statements link, what happens to the statements if Blank changes by $10) -Enterprise/Equity Valuations (how do you derive each, treasury stock method, etc) -Valuations (comps, prec trans, metrics and multiples, DCF run down, knowledge of other valuation methodologies) -DCF (walk through DCF, calc FCF, calc WACC, lever and unlever beta, etc) -If M&A group know something about accretion/dilution models -And to be on the safe side, know the basics of LBO
There could obviously be more, but anything above could be potentially fair game. Remember, you are gonna have to prove yourself big time. I don't know if you are a finance major or not, or whether you are applying to an IBD, but I am a big fan of Pearl and Rosenbaum's IB book. Great way to prepare for the technicals.
Good luck.
It is IBD, should have specified. I will look that book up. Thanks for the help guys
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