Arma Partners Interview Questions

10 total interview insight submissions
Interview Experience (69%)

The Interview Experience is a score from 1 star (very negative) to 5 stars (very positive) generated based on the Interview Insights at this company.

The number you see in the middle of the doughnut pie chart is the simple average of these scores. If you hover over the various sections of the donut, you will see the % breakdown of each score given.

The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few interview insights). Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire dataset.

3.5
  • Very Negative
  • Negative
  • Neutral
  • Positive
  • Very Positive
Interview Difficulty (97%)

The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company.

The number you see in the middle of the doughnut pie chart is the simple average of these scores. The higher the number, the more difficult the interviews on average. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given.

The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few interview insights). Simply put, as a company gets more insights, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire data set.

3.2
  • Very Easy
  • Easy
  • Average
  • Difficult
  • Very Difficult
% Interns - FT Offers (88%)

The % of Interns Getting a Full Time Offer chart is meant to provide a realistic estimate of the hiring practices of the company based on the reviews at this company.

The number you see in the middle of the doughnut pie chart is the simple average of these scores. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given.

The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few reviews). Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to the simple company average and away from the average of the entire data set.

62%
  • 0%
  • 10%
  • 20%
  • 30%
  • 40%
  • 50%
  • 60%
  • 70%
  • 80%
  • 90%
  • 100%

Interviews at Arma Partners

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Year
Job Title
Group/Division
Location
Experience
Difficulty
3rd+ Year Analyst
Year 2018
Job Title 3rd+ Year Analyst
Group/Division Technology, Media and Telecom (TMT)
Location London
Experience
Neutral
Difficulty
Average
Intern
Year 2018
Job Title Intern
Group/Division Mergers and Acquisitions
Location London
Experience
Positive
Difficulty
Easy
Intern
Year 2018
Job Title Intern
Group/Division Investment Banking
Location London
Experience
Very Positive
Difficulty
Easy
Intern
Year 2017
Job Title Intern
Group/Division Technology, Media and Telecom (TMT)
Location London
Experience
Positive
Difficulty
Easy
Intern
Year 2015
Job Title Intern
Group/Division Mergers and Acquisitions
Location London
Experience
Very Positive
Difficulty
Average
1st Year Analyst
Year 2014
Job Title 1st Year Analyst
Group/Division Mergers and Acquisitions
Location London
Experience
Very Negative
Difficulty
Very Difficult
Intern
Year 2014
Job Title Intern
Group/Division Technology, Media and Telecom (TMT)
Location London
Experience
Neutral
Difficulty
Average
Intern
Year 2013
Job Title Intern
Group/Division Generalist
Location London
Experience
Neutral
Difficulty
Average
Intern
Year 2013
Job Title Intern
Group/Division Mergers and Acquisitions
Location London
Experience
Positive
Difficulty
Difficult
Intern
Year 2013
Job Title Intern
Group/Division Mergers and Acquisitions
Location London
Experience
Neutral
Difficulty
Very Difficult

Interview Questions & Answers - Arma Partners Examples

Analyst Interview - Technology, Media and Telecom (TMT)

Anonymous interview candidate in London
Interviewed: August 2018
Date Submitted: Aug 22, 2018
Outcome
Declined Offer
Interview Source
Recruiter
Length of Process
2-3 months
Application
1 on 1 Interview
Group Interview
Other
Interview
Been to five rounds now including a modelling test. Modelling test was an LBO. Other rounds consisted of interviews with associates, VPs, directors and Partners.
Interview Questions
I would not say that there were difficult questions, mostly unexpected.

How would you create operating model for Financial Times? How would you forecast revenue? How would you forecast cost base?
You have 2 minutes, please, list 10 reasons why manholes are round?
You can ask us two questions (2 partners in the room) but we promise to answer honestly and directly - what would you ask us?
Does your work on transaction stops after you sign the SPA? If not, what else could you be expected to do? Why?
Sample Answer

Intern Interview - Mergers and Acquisitions

Anonymous employee in London
Interviewed: May 2018
Date Submitted: Jun 19, 2018
Outcome
Accepted Offer
Interview Source
Applied Online
Length of Process
Less than 1 month
Application
Phone Interview
1 on 1 Interview
Interview
Applied online through their website and HR set up a phone screen. Following the phone screen, I was invited into their offices for face-to-face interviews. You have to pass the first interview in order to do the second. Offer was received the next working day.
Interview Questions
General banking questions off the bat, so walk through your CV, why Arma etc. For technicals, focus was placed on accounting (how 3 statements link, how buying Capex with debt affects your 3 statements in Y0, affects in Y1). Few questions on DCF, mainly around walking through one, understanding WACC and TV. Surprisingly questioned on merger consequences, balance sheet and income statement impacts, how changes in financing structure would impact your statements, returns etc.

Final interview was solely focused around fit.
Sample Answer

Intern Interview - Investment Banking

Anonymous employee in London
Interviewed: May 2018
Date Submitted: May 16, 2018
Outcome
Accepted Offer
Interview Source
Applied Online
Length of Process
Less than 1 month
Application
1 on 1 Interview
Interview
Applied on the website (make sure you apply early as they have very strict recruitment cycles). HR reached out confirming they received your application and would be in touch nearer the time to confirm if you have made the cut.
Interview Questions
Why are you interested in pursuing Tech focused IB? What are the growth drivers of a software company? Why Arma Partners v. BB? Am I comfortable doing another internship? (I was currently doing internship at a different firm) What experience do you have with working with tools like CIQ / Mergermarket? Other questions were very standard interview questions around motivation, work experience + some technicals. Having had previous M&A experience I definitely felt my questions were less technical and more focused on my experience + talking through the deals I had worked on.
Sample Answer

Internship Interview - Technology, Media and Telecom (TMT)

Anonymous interview candidate in London
Interviewed: 2017
Date Submitted: Apr 22, 2017
Outcome
Declined Offer
Interview Source
Applied Online
Length of Process
Less than 1 month
Application
1 on 1 Interview
Group Interview
Interview
I applied for the internship via a third party recruitment website. I was subsequently reached out to by HR who invited me to a superday. There were 2 rounds - in order to progress onto the second round (post-lunch), you would have to pass the first round. The first round involved being interviewed by 2 analysts whilst the second round involved being interviewed by a senior member of the team (usually associate upwards).
Interview Questions
I found the interview questions to be quite standard. You shouldn't face too much of an issue if you cover basic materials such as the vault guide, BIWS and read up on basic corporate finance. I received questions on walking through the financial statements (for instance if depreciation increased), questions on DCF and how to calculate cost of debt and equity, drivers of LBO. I would say an unexpected question was why 2 companies with the same profitability and growth would have different multiples - again this is covered in the guides. I would also recommend reading up on industry trends and deals as this is more likely than not to come up (considering its a specialist CMT boutique).
Sample Answer

Off Cycle analyst Interview - Mergers and Acquisitions

Anonymous employee in London
Interviewed: March 2015
Date Submitted: Mar 31, 2015
Outcome
Accepted Offer
Interview Source
College / University / On Campus Recruiting
Length of Process
Less than 1 month
Application
Phone Interview
1 on 1 Interview
Interview
I submitted my application through an ad on my career service. I received 1 week later an invitation for a all day interview consisting on a first one the morning and, if you are selected, a second one the afternoon with more senior people. They are basically testing your technical skills and see if there is FIT (really important)
Interview Questions
Walk me through the process of negociating more debt for the company you are working with
Sample Answer

Investment Banking Analyst Interview - Mergers and Acquisitions

Anonymous interview candidate in London
Interviewed: May 2014
Date Submitted: Sep 29, 2014
Outcome
Declined Offer
Interview Source
In-person
Length of Process
3-4 months
Application
Phone Interview
1 on 1 Interview
Presentation
Personality Test
Interview
Interviewed with junior analyst and associate at the start. After a long few weeks waiting, called back for a second interview with an associate and a VP. Further three interviews with analysts and associates. Then final interview with a partner.
Interview Questions
Do you think we should make you an offer because you are X?

Do you have a girlfriend and how much time do you spend together?

Are you not too old? Why have you done so many internships?
Sample Answer

6 month internshiip Interview - Technology, Media and Telecom (TMT)

Anonymous interview candidate in London
Interviewed: March 2014
Date Submitted: Apr 22, 2014
Outcome
No Offer
Interview Source
Applied Online
Length of Process
1-2 months
Application
Interview
I applied online and then I had to confirm several time that I want it. Finally was invited for they recruitment day in March in their office in London. They told me from the beginning that they don't pay back for the transport costs.
Interview Questions
There were 20 of us gathered in their meeting room. The atmosphere between us was friendly.
It is basically first in, first being interviewed. When my turn arrived, I was invited in another room where two interviewers (1VP and 1 associate) were waiting for me. They absolutely DON'T CARE about your story and why the TECH. Obviously they will ask a couple of questions about the company. If you do your homeworks it should be fine. I would say that the interview was mainly technical, they will push you up to your breaking even point. Make sure that everything you mention you know why. In my case the VP had experiences in accounting so most of the questions were accounting oriented. For instance when I said that you add the provision for restructuring and pension to the net debt and the equity value to get the EV, he asked which type of pensions ? Stupid but I was not able to answer and therefore, lost my chance for the second round. No second chance given, no mistakes accepted. After all there were 20 of us!!!!
It can be really frustrating because they won't you give any feedback but in my case it was a good training because after that i got something better ;)
Sample Answer

Summer internship Interview - Generalist

Anonymous interview candidate in London
Interviewed: 2013
Date Submitted: Dec 03, 2013
Outcome
Declined Offer
Interview Source
College / University / On Campus Recruiting
Length of Process
1-2 months
Application
Phone Interview
1 on 1 Interview
Skills Test
Interview
Very standard interview, lots of competency-based questions, assessing my personality, team-work skills etc. Asked in a quick-fire manner so I had to be on my toes. Also was given a maths test - difficult for me because I have not taken maths since GCSE, but do-able. The partner I spoke with was very nice and made the experience not at all stressful.
Interview Questions
What makes us differ from our competitors? How do you see the financial world in 2040? I really didn't have much of an idea for how to answer because all the banks seem to me to be quite similar - so I just recalled what they had said on their website about "standing out". The second question was more difficult because I hadn't prepped that well, but I spoke a lot about the long-term dangers and benefits of tapering, and how it will effect all the different industries.
Sample Answer

Analyst Intern Interview - Mergers and Acquisitions

Anonymous interview candidate in London
Interviewed: May 2013
Date Submitted: Oct 22, 2013
Outcome
No Offer
Interview Source
Applied Online
Length of Process
Less than 1 month
Application
1 on 1 Interview
Group Interview
Interview
Reached out to analysts at the firm and my resume was pushed through to the recruiter. They offered me an interview slot. Went in for an interview which consisted of two 2-on-1s with analysts and associates. Was called the next by the recruiter.
Interview Questions
Walk me through a DCF? How do you pick your comparable companies in a Comps Analysis? 3 statement questions like what happens when you purchase inventory with cash. EV/EBITDA and Enterprise Value questions. All pretty basic stuff that you should nail if you prepared well enough.
On the fit side, be ready to answer stuff about the tech industry, any recent deals you've read about that interest you. Read up on any deal you do mention because they will probably ask you about the details. Why the European tech industry and why cross-border M&A. Just make sure you show real enthusiasm about the firm and the industry.
Sample Answer

Intern Interview - Mergers and Acquisitions

Anonymous interview candidate in London
Interviewed: April 2013
Date Submitted: Apr 07, 2013
Outcome
No Offer
Interview Source
Other
Length of Process
Less than 1 month
Application
1 on 1 Interview
Interview
Two interviews, highly technical. First interview focused mainly on financial statements. Second interview was focused on application of minority interest. For a six month internship position, the questions were much harder than what I was expecting.
Interview Questions
Walk me through minority interest. What is it? Kept asking further questions on how to calculate it, why it was included in EV/EBITDA.
Walk me through how straight line depreciation affects each of the financial statements. It was a tough question.
Sample Answer