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Growth Equity - Interview Process & Questions
Help! Any insight experienced candidates can provide on the following for Growth Equity interviews (consumer / consumer-tech focused for Associate positions)? Would be extremely helpful and much appreciated! - What did the interview process look like? - What technical questions / modeling did you...
High revenue, low margin business or vice versa
Which would you prefer? What other considerations should you think about? Got the above in a PE interview Suggestions on how to answer this?
Is Acquisition Structure Covered by an NDA?
This is hypothetical and I will use the proverbial "you".You are on a small sell-side mandate and the transaction closes. The structure is one that is uncommon (at least to you and the seller) and as part of the mandate you had to do some research on the acquisition mechanisms so that the seller...
Citadel International Summer Intership
Hi everyone, any info on the International Summer Intership interview of Citadel London? Any tip/information on the recruitment process is truly appreciated.ù Thank you
GLOBAL TRANSACTION BANKING TDS INTERVIEW TIPS
I have an interview with the TD Securities Global Banking Transaction team. Does anybody have any advice? Things I should prepare for?
Lazard TMT interview
Hi monkeys - I have an upcoming Lazard TMT interview (London office) Anyone who has recently went through the process? How were the interviews? Anything specific I should prepare for apart from the obvious - technicals and why Lazard
Interview Rothschild Longterm Internship Coverage (M&A) London
Has anyone any knowledge/advice on the type of questions I will receive? The function in question is a long-term internship (6 months) as a coverage intern focusing on a region in Europe. I got a call for a two-day interview, which will both consist of a half-hour interview. He said the topics that...
OID - Balance Sheet Debt Impact
Monkeys, need help with the concept of OID. How does this impact the 3 statements specifically the balance sheet debt? Say we have Term Loan of £600 traded at 6% discount, term of 6 years. Tax rate of 20%. My understanding for year 1 is as follows: IS: We record $1 as an expense - Net Income is...
Why this firm?
Can anyone give an example of a why this firm answer that got them the offer? I don't know how specific I need to be/what I should include.
IB SA Interview - what two TMT companies should merge and why?
I have an upcoming interview and have been told the bank likes to ask this question. As I am interviewing for TMT I'd like to pitch a TMT merger, possibly with at least one European company. Any suggestions?
Questions to interviewers during an interview
Hi friends, It'd great if you can share the outstanding questions you have raised to the interviewer (especially to VP and above ) during an interview, or the impressive questions you've met if you've been an interviewer. I always felt my questions are too plain. Thanks!
Stephens Superday Update 2023
Wanted to see if anyone has received updates regarding Superday invites for Stephens SA or FT 2023. (Little Rock, Atlanta, Dallas)
Would you do a dividend recap or pay down debt with excess FCF?
My guess is debt paydown to reduce interest cost. However, wouldn't paying a dividend boost your IRR a lot more? Thoughts?
Would you prefer to increase prices by $10 or cut cost by $10?
I got the above in an interview. I would think price is better though not 100% sure. Any idea?
PE Interview Questions - some help
Came across these questions in an interview and wanted to hear your approach on answering them Company A has a potential IRR of 21% and Company B has a potential IRR of 27%. What 2 questions would you ask before you decide which one to invest in? Why would a private equity firm use a convertible...
An LBO interview question
How to best answer this question in an interview? Thanks! Company has 100 EBITDA in year 0, and is expected to grow EBITDA to 120 in year 5 and decreases debt by 25 each year. Assume the entry multiple is 5x EV/EBITDA and exit multiple is 5.5x. How much additional equity value is created? How much...
"The next step?" Please help!
Hello All, I am hoping to get a valuable second opinion. I had a final round interview with a BB a month ago. It went well, then two weeks after my interview I was asked to fill out paperwork including my social, to proceed with "the next step" When I asked what the "next step" is they said it would...
Advanced Valuation - DTA Impact on DCF
Hi Monkeys, I got a question in an interview on how DTAs impacts a DCF. Am I correct to think that DTA reduces tax (bcs of NOLs) and hence produces a higher valuation?
When does a DCF produces a lower valuation than the LBO
I came across this interview question and was not sure: "When does a DCF produces a lower valuation than the LBO" Some help?
M&A Process Letter - Interview Question
I stumbled on a M&A process letter interview question. Appreciate some insight for you Monkeys: - How would you structure a sell side process letter for Round 1 and 2? What are the typical terms in the letter? - How does the letter content differ for Round 1 and 2? - I answered one is non-binding...
DC Advisory SA Interview Questions
I have a first round interview with DC Advisory set for a week from now, and was wondering what some of the questions are for their Summer analyst position. I found some questions on glassdoor but they seem to be slightly outdated and conflicting. Thanks in advance.
Advice for MO interviews?
I am preparing for 2 BB MO interviews as an Equities Volatilies Product Control/Valuation Analyst. Any advice for interviews? How do MO interviews compare with FO interviews i.e less or more technical questions? Any interview questions that are certain to come up that differ from normal FO roles?
Interview question: how to value a $100mil synergy?
Hi everyone, came across these questions recently in an interview book but there's no answers provided and I'm a little stumped. First one is "how do you value a synergy?", for which I found this page that seems to offer a decent explanation: https://www.fe.training/free-resources/valuation/…...
Strategic Value Partners (SVP Global)
Hi Monkeys, I have a first round interview with SVP, London office. Any idea what to expect?
Equity Exotics Trading interview
Hi guys, I am currently a junior quant at a BB (in risk analytics) with a maths degree, been here for less than 1 year. I have got an interview coming up for equities exotics trading at another BB. I honestly don't have much idea about what they are gonna ask me or how to prepare. I am quite good at...
Restructuring Interview Question
Hi Monkeys, I got a quirky question in one of my interviews and wanted to hear your thought process / approach on the below question: "A company is about to go into liquidation. The enterprise value of the company is $1 billion and there is face value $600 million of senior secured debt (with 1L on...
Client-Interaction for Investment Banking Analyst?
Hi, WSO monkeys. I'm currently a rising sophomore in a target. I am curious about one thing here. Should I mention in an interview/resume walkthrough that I love client interaction and this is one of the reasons that drive me to investment banking? From my previous two ib internships at some small...
Typical First Round Interview Questions
I have a first round interview next week for S&T SA 2023. I was wondering what to expect in terms of questions in the interview - behaviorals, technicals, markets, etc.? Thank you.
Superday for Sophomore IB tips?
I got a superday and I am wondering how hard the interviews might be. I was mostly wondering how the technical interview will be. I heard Sophomore technical interviews were much easier (from another post on WSO) but I've been prepping anyways. Will I need to know M&A stuff or LBO? Or will it mostly...
FDD / TAS Interview and Case Study Mini Guide
FDD / TAS Interview and Case Study Mini Guide FDD / TAS (Financial Due Diligence / Transaction Advisory Service) careers are not often discussed under the accounting ‘umbrella’ and as such it can often be difficult from the outside looking in. The below mini-guide for FDD interviews and case...
Baird Interviews
Hey guys, Trying to get some insight on the written portion of the 2 hour case interview. Heard numerous times the LBO was straight forward so I’m not all that worried about that but would like a little info on what to expect for the written case. Thanks!
4th stage interview - not sure what to ask
Hey all, I have been in the process of applying for a rather small WM company in the UK (£50b - $61b AUM) within their strategy department which overlooks the buying side of M&As and other aspects of the business such as expansions, operations, tech etc. (I'm a fresh grad with odd job selections on...
Inflexion Private Equity
Monkeys, I have an upcoming first round interviews with Inflexion next week. I haven't seen a thread covering them yet, so thought it would be good to create one. Anyone has gone through the process yet and would care to shed some light?
Questions Candidate(s) Asked You
Let's hear some of the best and worst questions you received when you turned the tables on a candidate, and asked them to fire some questions at you.
TAM vs. whitespace opportunity?
hi guys - what exactly is the difference here? is whitespace a subset of TAM? so if TAM is $1B, whitespace might be $100M that's actually serviceable to a Company? from what i understaND, TAM is the total revenue opportunity assuming 100% market share. so is whitespace the portion of that pie that...
Calculate IRR Question
Interview question. Period 0: -110 Period 1: 10 Period 2: 10 Period 3: 10 Period 4: 110 Calculate IRR
PWM Interview Questions for GS & JPM
I'm starting my Junior year this fall and networking to hopefully get a few interview opportunities for a summer 2023 internship at Goldman and JPM. In preparation for interviews, I'd love to compile a list of any questions people have received during their interviews, thanks!
What do Data Tests as part of the PE process consist of?
I have a round coming up with a 1-hour short LBO + 1-hour data analysis and consolidation test. I'm assuming it will consist of dirty data that will have to fix (i.e. format, pivot tables, etc.). But I have never heard of any test like it. Does anyone have familiarity with such a test?
Will Boutique Reference Check?
Bit of background, I go to a US Target and recently had a second round interview for a fall analyst position at a west coast boutique. It is a fairly small firm (
Tell me about yourself vs walk me through you resume
These questions essentially have the same answers (emphasizing how interest in finance developed, why u chose your university, majors, relevant experiences, etc). If you are asked both the questions in an interview, how are you supposed to approach the questions? Should you go in more detail with...
EQT Interview Process - London
Monkeys, Have anyone went through EQT Core Fund Interviews (Round 1)? I understand there will be mini case studies and paper LBOs Appreciate insights on the process and anything on types of questions I should prepare for
How to beg for IB Internship?
Pls don't flame me, the title is just a very blunt way of describing the point of this post. I have an interview at a boutique IBank coming up for a summer 2022 position. A bit of background, I just finished freshman year and I am currently at a microboutique doing financing work (I was planning on...
How to get into Harvard and Stanford Business School
“Blood streaming down my face, I turned away and started to run.” You wouldn't think that was the opening to an admissions essay for the best business program in the world. I certainly didn’t before I applied for Stanford GSB. It was only through sheer luck and privilege that I was able to...
Would EV/EBITDA be higher if the company is riskier?
Would EV/EBITDA be higher if the company is riskier? Also, I was wondering if this is alwaysthe case?
Anyone ever do a "Case study"? for REPE SA role?
I have the final round for Ares tomorrow for acquisitions and I just saw that one of the interviews is behavioral and the other one is a case study. I've only done two other super days for acquisitions and they both just consisted of technicals.
How difficult are lateral interviews?
I have a few lateral interviews coming up, but at my firm (small shop), I haven't had much LBO or 3 statement modeling experience, and I've been there for a year. I can balance a 3 statement model and do a paper LBO, understand the basics of it and all, but not much on the job experience. Wondering...
Do you have any questions for me? {Interview Setting}
Pretend like you just got done interviewing a potential SA for 25 minutes and like a good interviewer, you leave the interviewee the last 5 minutes to ask you questions. Assuming the interview was super dry and there was no connection or any possible questions that could be asked regarding personal...
Cracking under stress in an interview
Just came out of an interview. Interviewers were super kind. Had me walk through resume etc + some behavioral questions. All good. Then was asked a very basic multi-step problem of finding some key numbers for company (think EBITDA, EBITDA margin, FCF, etc -- basic stuff). Let me tell you, I have...
Fellas, what does a second round interview entail?
Hey guys, Some of the IB processes are starting to move along for me. (I have 2 second-rounds scheduled for next week). I was just wondering what a second-round looks like. Both of mine are over Zoom and first rounds were over the phone and nearly all behavioral. Should I expect mostly technical q's...
Blackstone Tac Opps First Round SA 2023
First-round (30 min zoom interview) with Tac Opps coming up. With such a broad area of coverage (Credit, Private Equity, Real Estate), how should I prepare for this interview?
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