Seriously, search. This is perhaps the most frequently asked question on this board.

- Capt K - "Prestige is like a powerful magnet that warps even your beliefs about what you enjoy. If you want to make ambitious people waste their time on errands, bait the hook with prestige." - Paul Graham
 
Best Response

You can't just use one answer for "why S&T" as well as "why IBD" since both are very different from each other. That answer you gave is also just way too generic. You need answers that incorporate specifics about the job, and ideally, an anecdote which backs up your interest and makes your answer stand out as unique.

 

Seeing as you've already got a sizable number of bananas, I'd wager you've read and participated in a fair bit of posts and would (or should) already know that answer is way too generic and vague and quite possibly 'dingable' given the lack of thought put behind (unless you do a great job with all the other interview questions).

Understandably, these days with the competition and uncertainty, students should cast a wider net and that could mean going for 'finance' in general. But for both S&T and ib interviews, you should craft a better answer (ideally one that is unique, memorable and that you can relate to your prior experience). Think about why and what you like about both roles specifically and how your prior exp/extra-currics best prepares you for the job vs. the next guy/girl.

 

answer points I would give for S&T

  • Want to understand the broader context of how financial markets really work by dealing with sales and trading aspects daily.
  • Want to be in an industry where your performance is very tangible IE the score is on the board every day.
  • Want to be in a dynamic environment that challenges you to think quickly, clearly and concise.
  • The entrepreneurial nature of the trading floor
  • exposure to a number of products across a number of asset classes (potentially)
  • working in a meritocratic environment
  • balling so hard motherfuckers want to fine you...
Here's the thing. If you can't spot the sucker in the first half hour at the table, you are the sucker.
 

"utmost for financial market research"

  • this is not proper english
  • this doesn't mean anything

but yea, get more detailed. a dynamic personality and hard working attitude are the same qualities that could make you a good best buy salesman...why banking?

 

Now that there are sufficient responses:

I'm surprised you guys didn't say how awful that was. A junior in my frat had this at the top of his resume. Got interviews at 4 BBs, an offer from one. And not BAML/UBS, in case you're wondering.

Made me wonder if we over-think some aspects of recruiting. I mean, if this reason can get you an interview, then aren't we?

 
seedy underbelly:
Now that there are sufficient responses:

I'm surprised you guys didn't say how awful that was. A junior in my frat had this at the top of his resume. Got interviews at 4 BBs, an offer from one. And not BAML/UBS, in case you're wondering.

Made me wonder if we over-think some aspects of recruiting. I mean, if this reason can get you an interview, then aren't we?

You should not have anything like that at the top of your resume. You should also not have an "objective". If you're applying to a job your objective is to get the job you don't need to string together a bunch of buzz words. Your friend got interviews in spite of not because of what he wrote.

 
tmur:
To say you're in investment banking

which only sounds cool to other people who are in finance. but hey, as long as you're in manhattan and 'other people in finance' account for a shit ton of the population, i'll take it

Remember, once you're inside you're on your own. Oh, you mean I can't count on you? No. Good!
 

Found this article...thought it was relevant...haha. Replace the "(dot)" with "."

idiotdigest(dot)tumblr(dot)com/post/39248652585/why-all-college-grads-should-pursue-a-career-in

 

I told them that banking would make me a millionaire in the low-digits with little risk. I also added that I understood that my fortune would be capped but was willing to lower my expectations given the lower risk. I made them understand that I was kind of joking but at the same was serious about the answer and they knew it. I was about to jump to the serious standard BS answer afterwards, but the interviewer changed to a new question. BTW, got an offer.

 

That video's funny but true. No one goes into the industry because of some complex, altruistic higher calling if that's what you're wondering.

The most honest senior people I've spoken to have bluntly said that they went into the business because it paid the most.

 

this.

let's not make finance seem like a social mission. I think interest in capital markets is important to doing well, but let's not be coy about this, you're in it for the money. I think there are some fields where there's that higher calling but mostly a career choice in finance is someone realizing they have the interest and the aptitude for this and are simply making the utilitarian decision (because of my skills, I can do this. I'm also kinda interested in this. and hey, it pays really well!).

 

Theres many different ways to answer this question. But my best advice to you is to set up your answer in sections:

Example: There are two reasons why I want to get into investment banking: 1)_________ 2)_______. That way your interviewer won't lost sight or attention of you when you are speaking.

The best way to make a lasting impression is instead of saying you are more interested in corporate finance or want to learn about the world of finance...I would dig deep, look at your past experience, and try to find a short anecdote or two so that you sound genuine.

XX
 
Wasserstag526:
Because you despise sleep and excess free time...

Add to that you are bored of all the time spent doing extra-curricular activities at university and what a pointless thing a social life is that you don't need one anymore.

And you enjoy getting a torrent of abuse from peers.

 

The single most important question and also the most pointless hot air question at the same time. Oh the irony. You want the money, the exit opps, the prestige. You can't say any of that. The learning experience, the challenge, working with the best, real responsibility....those are all unmemorable cookie cutter answers that everyone says and therefore you can't stand out with. And any other answer you give is 99/100 times just plain bull shit. Good luck.

But in all truthfulness, here are some guidelines:

give 3 solid reasons--avoiding selfish reasons, show your passion, mention friends in IB, mention past experiences that are relevant to showing your journey to IB, briefly acknowledge downsides, and then finish on a positive note.

 

You like structuring and underwriting deals. You like learning a certain product/industry in depth. Enjoy quantitative work while also being able to better understand how individual companies receive financing and deploy capital. Get to work in teams and tackle a variety of challenges. Offers an unparalleled learning experience about how finance actually operates.You like being able to see a project from start to finish. You enjoy being able to bill your dinners to clients. Happy hour expenses to the corporate credit card. etc, etc

 

I would stray from any of the cookie cutter bullshit answers and try to say something unique. When I interviewed for an IB role I straight up said that at my internship I worked on smaller deals and learned a lot but school is out and I want to work on bigger more sophisticated deals and obviously remarked on the pedigree of the people I would be working with that also made their firm attractive to me.

'We're bigger than U.S. Steel"
 

The head of my group puts it this way (not necessarily true, but it's his pitch to college students): investment banking allows you to have the greatest amount of responsibility as fast as possible in an entry-level position, in which you have a hand in transactions that move markets.

Not sure if that's the most interview-appropriate answer, as it is a little generic, but that's the thirty second pitch.

When one man, for whatever reason, has an opportunity to lead an extraordinary life, he has no right to keep it to himself.
 

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Commercial Real Estate Developer
 

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