Investment Banking off cycle intern

Status
Intern at
Group/Division/Type
Investment Banking
City
Barcelona
Interviewed
November 2020
Overall experience
Very 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?
Phone Interview
Please describe the interview / hiring process.
First interview round. Phone call with analyst and associate.
1) CV and what I learned in my previous finance related internship
2) Technical questions: name the 3 statements, what's the impact of increasing depreciation by X amount in them, name the elements of the income statement and cash flow, tell me valuation methods, walk me through a DCF (answered wrong, said to discount net income, they asked what the problem was with using net income in case u don't know is because u gotta take debt into account), how to calculate FCFF/FCFE, equity value, what do you think X's multiple could be...
3) Other: tell us something outside your CV (hobbies), questions about IB (what do you think we do, what would your responsiibilities look like, who are our clients), do you have any questions
90% technical, they were really nice and when answering wrong they provided with guidance
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