This is my first interview for an IB internship with KippsDeSanto & Co. I have my first round interview next week and am trying to prepare. Does anyone have any advice for an ADG interview? I used the 400 question guide so I know the basics but looking for advice on industry specific questions.
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Based on the most helpful WSO content, preparing for an interview in the Aerospace & Defense Group (A&D) at a firm like KippsDeSanto & Co. requires a blend of general investment banking knowledge and specific insights into the A&D industry. Since you've already gone through the 400 question guide, you're well-prepared on the basics. Here are some additional tips and areas to focus on for A&D specific questions:
Industry Knowledge: Make sure you have a solid understanding of the current trends in the Aerospace & Defense industry. This includes knowing the major players, recent mergers and acquisitions, and any regulatory changes that could impact the industry. The A&D industry is heavily influenced by government spending and policy, so being up-to-date on these aspects can be particularly beneficial.
Financial Analysis: Be prepared to discuss how you would value an A&D company, including which multiples might be most relevant. The A&D industry often deals with long-term contracts and government relationships, so understanding how these factors influence financial statements is crucial. Be ready to talk about EBITDA, as well as more specific metrics like backlog and book-to-bill ratios.
Deal Experience: If you have any experience with deals in the A&D sector (through internships, case studies, or academic projects), be ready to discuss them in detail. Highlight your role, the skills you used, and the outcome of the deal. If you don't have direct experience, consider discussing a recent A&D deal that caught your attention and why it was significant.
Technical Questions: While you've covered the basics, ensure you're also prepared for more complex technical questions that could arise. This might include detailed financial modeling scenarios specific to A&D companies, such as forecasting revenue from government contracts or modeling the impact of a merger between two defense contractors.
Behavioral Questions: Don't forget to prepare for behavioral questions that might relate specifically to the A&D industry. For example, you might be asked about a time you had to work on a project with a lot of uncertainties or how you stay informed about changes in government policy that could affect the industry.
Remember, showing a genuine interest in the A&D sector and demonstrating your knowledge about its unique challenges and opportunities can set you apart. Good luck with your interview at KippsDeSanto & Co.!
Sources: Aerospace & Defense (A&D) Industry Group, Advice Please! Growth Equity Interview Questions?
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