1st Round Technical Interview TD HTX

I have my first IB interview (ever) with TD securities in HTX tomorrow. It's for the junior year summer analyst position. Does anyone have anything specific they think I should study. I was told that it is specifically a technical interview, so probably only TMAY and why TD for behaviorals.

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Based on the most helpful WSO content, here’s how you should prepare for your first-round technical interview with TD Securities in Houston:

1. Core Technical Topics to Master:

  • Valuation Methods: Be ready to discuss and calculate methods like DCF (Discounted Cash Flow), comparable company analysis, and precedent transactions. Know the pros and cons of each.
  • WACC and DCF: Understand what WACC (Weighted Average Cost of Capital) is, how to calculate it, and how it ties into a DCF. Be prepared to walk through a DCF step-by-step.
  • Financial Ratios: Know key metrics like PE ratio, EV/EBITDA, and how they are used in valuation.
  • Accounting Basics: Brush up on the three financial statements (Income Statement, Balance Sheet, and Cash Flow Statement) and how they connect. Be ready to answer questions like, "What happens to the financial statements if depreciation increases by $10?"
  • Bond Price vs. Yield: Understand the inverse relationship between bond prices and yields, as this is a common finance 101 concept.

2. Behavioral Prep:

  • TMAY (Tell Me About Yourself): Keep it concise and structured. Highlight your academic background, relevant experiences, and why you’re interested in investment banking.
  • Why TD Securities: Research TD’s recent deals, their culture, and their presence in Houston. Show that you’ve done your homework and can articulate why you’re a good fit for their team.

3. Market Knowledge:

  • Stay updated on current events in the financial markets. Read the Financial Times (FT) or Wall Street Journal (WSJ) to discuss recent trends or deals. If TD has been involved in any notable transactions, be prepared to mention them.

4. Practice Resources:

  • Use guides like the 400 M&I questions or Rosenbaum & Pearl’s Investment Banking. These are highly recommended for technical prep.
  • Practice mental math and quick calculations, as speed and accuracy can be tested.

5. Mock Interviews:

  • If possible, do a quick mock interview with a friend or mentor to simulate the pressure and refine your answers.

6. Final Tips:

  • Don’t Memorize: Understand the concepts rather than memorizing answers. Interviewers can tell when you’re regurgitating.
  • Stay Calm: If you don’t know an answer, explain your thought process logically. It’s better to show how you approach a problem than to freeze.
  • Sleep Well: A fresh mind is your best asset.

Good luck! Crush it like a pro, and remember, TD wants to see that you’re not just technically sound but also someone they’d want to work with for long hours.

Sources: Ask an ex-IB MD anything........., Guide to Hirevues, https://www.wallstreetoasis.com/forum/asset-management/sales-trading-interview-guide-gekkos-guidance-part-2?customgpt=1, J.P. Morgan - Video Interview Invitation Corporate & Investment Banking Summer Analyst, Superday Advice From a Tired Interviewer

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