UBS Equity Research technical Interview

Based on the most helpful WSO content, here are some insights and advice for preparing for a technical interview with UBS for an Equity Research position:

1. Common Technical Questions:

• Valuation Techniques: Be prepared to discuss valuation methods such as DCF (Discounted Cash Flow), comparable company analysis, and precedent transactions. For example, you might be asked to "walk through a DCF" or explain how you would value a company in a specific sector.
• Financial Metrics: Understand key financial metrics like P/E ratio, EV/EBITDA, and how they are used to compare companies.
• Industry-Specific Knowledge: Depending on the sector you are interviewing for, you may be asked about specific trends, challenges, or metrics relevant to that industry.
• Accounting Knowledge: Be ready to answer questions about financial statements, such as how the three statements are linked or the impact of specific transactions on them.

2. Behavioral and Fit Questions:

• Why UBS? Tailor your answer to UBS' values and principles. For example, you could mention their client-focused approach or a specific program like the Graduate Talent Program (GTP) if relevant.
• Why Equity Research? Be clear about your interest in analyzing companies, understanding industries, and providing actionable insights for investors.

3. Preparation Tips:

• Practice Technicals: Use resources like the WSO Technical Guide, the 400 M&I question guide, or Rosenbaum & Pearl's book for M&A and valuation-heavy content.
• Mock Interviews: Practice explaining complex concepts in simple terms, as you may be asked to demonstrate your ability to communicate effectively.
• Stay Updated: Keep up with current market trends and news, as you might be asked about recent developments in the equity markets or a specific stock.

4. Example Questions:

• Walk me through a DCF analysis.
• How would you value a company with negative earnings?
• What are the key drivers of a specific industry (e.g., tech, healthcare)?
• Tell me about a stock you are following and why you think it’s a good/bad investment.

Good luck with your interview! Preparation and confidence are key.

Sources: UBS SONRU First Round Video Interview, https://www.wallstreetoasis.com/forum/investment-banking/how-to-prepare-for-restructuring-technical-questions?customgpt=1, Breaking into buy-side equity research - my experience, https://www.wallstreetoasis.com/forum/investment-banking/non-target-to-bb-ib-sa?customgpt=1, Q&A: Technology IB Analyst