Investment Banking Summer 2024 Analyst

Status
Intern at
Group/Division/Type
Generalist
City
Charlotte
Interviewed
July 2023
Overall experience
Positive
Difficulty
Average

General Interview Information

Outcome
Accepted Offer
Interview Source
Applied Online
Length of Process
1-2 months

Interview Details

What did the interview consist of?
Phone Interview
Drug Test
Background Check
Please describe the interview / hiring process.
First time I heard about Fifth Third was when I saw their application on Handshake and applied. This was in early June. A few days later, I got an email from a recruiter asking to set up a phone screening. This screening got scheduled for the middle of June. It was a 30 minute call with the recruiter where she asked all basic behaviorals and gave me a background on the internship, asked my location preferences and group preferences. The interview process was all the same for Capital Markets, Asset Backed Finance, and Investment Banking, so she let me rank the three. I put investment banking first and she said she would send my application to the IB team first and they had the opportunity to pass on it before it would go to my next choice and so on. She was great, spoke very highly of the culture. After this interview, I began networking with analysts at Fifth Third. Everyone was very easy to get in contact with and happy to speak with me. Happier to help and more willing to speak than at any other bank by far. Spoke very highly of the culture and WLB. Most were based in Charlotte and were generalist M&A. Had about 10 calls total across capital markets and IB, 4 in IB specifically. After every round of the interview process I updated all of these people and they all responded offering help and advice on next steps. All seemed super cool and supportive. The recruiter told me that superdays would happen near the end of July and offers would go out the first week in August. I got a superday scheduled at the end of July. 2 interviews with and analyst and an associate in each one. Super chill, virtual, two of the guys were in polos, not even dress shirts. Mix of behaviorals and technicals in both of them. Pretty standard both. All very nice. Got my offer for Charlotte at the end of the first week of August. Charlotte was not my first choice city, but they said all of their interns would be in Charlotte this year.
What were the most difficult or unexpected interview questions asked?
1. Tell me about a time you had to deal with something that was not fair and how you responded to it?
2. What is the biggest way you have changed over the past 2 years?
3. They also asked some middle market specific M&A questions that I was not prepared for, but had good answers for them. I do not remember exactly what they were but think, "Which of these scenarios would be better for a middle market company looking at an acquisition?"
4. Tell me about a time you worked on a project where you had to use your knowledge of the markets and economy?
How did you answer each of these questions (please be specific)?
1. I told a story about how I was head of recruitment for my finance club, and considered an applicant from an underprivileged background whose application was weaker than other candidates. I fought very hard for him to be included in our new class because while he didn't have the technical experience, he showed his ability to work hard and learn. He turned out to be one of our best club members.
2. I talked about how I have gotten much better at reflecting on and learning from my mistakes.
3. For the middle market M&A, my answers were, "It is impossible to say which of these options is better without knowing the unique situation and goals of the company in question. It depends on what they want to do." They LOVED this answer. Said it was the best one they have heard so far and it was the perfect answer. So remember there is rarely a specific right and wrong out of two options. It always depends on lots of things, and it is good to say that.
4. I work real estate private equity right now so I talked about a time where I had to make a model for an acquisition that took into account different debt structures, so I made several different scenarios based on interest rate fluctuations and how likely I thought each was.

Overall Company Rankings

  • 5 Stars
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Star
Overall Ranking

Overall Ranking is a score from 1 star (very bad) to 5 stars (excellent) generated based on the Company Reviews of current and former employees at this company, taking everything into account.

The number you see in the middle of the donut 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 reviews). 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.

3.9
Career Advancement Opportunities

Career Advancement Opportunities is a score from 1 star (very bad) to 5 stars (excellent) generated based on the Company Reviews of current and former employees at this company, taking everything into account.

The number you see in the middle of the donut 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 reviews). 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.

4.0
Senior Management

Senior Management is a score from 1 star (very bad) to 5 stars (excellent) generated based on the Company Reviews of current and former employees at this company, taking everything into account.

The number you see in the middle of the donut 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 reviews). 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.

3.9

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