Associate Interview - Investment Banking
Anonymous interview candidate in Los Angeles
Interviewed:
July
2019
Date Submitted:
May 04, 2020
Outcome
Declined Offer
Interview Source
Other
Length of Process
1-2 months
Application
Phone Interview
1 on 1 Interview
Skills Test
Other
Interview
1. First was a 1on1 phone interview test with mixture of technicals, behaviorals and market info.
2. In person model test requiring LBO with returns on from an equity and debt perspective
3. Walk through the case associated with LBO
4. Superday with mixture of all questions and why I wanted the firm, industry, etc. 6 interviews all day.
2. In person model test requiring LBO with returns on from an equity and debt perspective
3. Walk through the case associated with LBO
4. Superday with mixture of all questions and why I wanted the firm, industry, etc. 6 interviews all day.
Interview Questions
I think the most difficult questions that were asked in the interview were:
1. Why credit fund and why specifically mezzanine debt - there is a fine line between regular credit funds and mezz
2. 5 questions I would ask if I knew only this about the business (QSR consumer, Margin profile, # of stores, and locations)
3. LBO test included different style of IRR analysis. Wanted equity IRR, debt IRR and blended IRR.
4. Why not P/E if that is the most traditional route that is taken from investment banking?
1. Why credit fund and why specifically mezzanine debt - there is a fine line between regular credit funds and mezz
2. 5 questions I would ask if I knew only this about the business (QSR consumer, Margin profile, # of stores, and locations)
3. LBO test included different style of IRR analysis. Wanted equity IRR, debt IRR and blended IRR.
4. Why not P/E if that is the most traditional route that is taken from investment banking?
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