Analyst IBD - Buy-side Insights Group (BIG)

Status
1st Year Analyst at
Group/Division/Type
Mergers and Acquisitions
City
New York
Interviewed
October 2008
Overall experience
Positive
Difficulty
Average

General Interview Information

Outcome
No Offer
Interview Source
Employee Referral
Length of Process
Less than 1 month

Interview Details

What did the interview consist of?
1 on 1 Interview
Group Interview
Please describe the interview / hiring process.
I was a summer intern in the equities (front office) department with CS. I was informed that my group wasn't allocated any full time spots because of the uncertain economy. They gave me a referral to IBD to interview for FT job.

I was brought to the office and met with COO/Recruiting head of the BIG/Strategic Finance Group. Not really an interview - more here explaining the team and the different roles they have worked on, and how they work with other IBD teams on deals.

2 weeks later, during which members of the team I did my SA with were calling and recommending me), I got a call for a super day (I did not have to go through a campus / phone interview).

Interview was 2 hours, meeting with 4 different people (3 interviews). First was with an associate and analyst. Very "good cop, bad cop." Associate would make strong comments and challenge me on everything - some things wrong - to see how I would react, and if I would correct/challenge him. Analyst was friendly. Some technicals like why use our special discount rate instead of CAPM/WACC?

Next was with VP. Behavioral. He didn't seem to really care.

Next was with another VP. He asked behavioral, technical and brain teasers. How do you calculate Net Cash Receipts (a special term from BIG team) from GCF? A large US company acquirers a German conglomerate with offices globally. What discount rate do you use to value the purchase price? For brain teasers, I was asked why a store that NEVER closes has a lock on its door, and was given the hint to think about "economies of scale."

1 week later, received a call from CS HR. First, I was excited...until I was told I didn't get the job. Next time...please email!

Anyway, 2 weeks later, it turns out the entire team was eliminated with only a few bankers being absorbed into traditional product / industry groups. So, I still don't know if someone was given to job only to have it received? Or, if they knew the job was axed and no one got the offer. Oh well.
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