Baird Interviews
Does Baird do modeling tests for their interviews? If so, what did these consist of?
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Did they send the interviews already?
FT? They do qualitative test (comps, buyers, etc.) for a hypothetical company and then you build an LBO based on certain assumptions. 2 hours to complete and send back via email.
Fairly straightforward/level of difficulty?
fairly straight forward. Any finance/acct/econ major can finish it if you have done ur homework
Yes to the modeling test but it’s super straight forward. PM and I can send you something that will help. This was for lateral analyst interview FYI
Just sent a PM
Hi! Can you please send me the helpful materials too? I’m worried about the LBO case and what to expect
If you can do a paper LBO, you can do the LBO model. It is literally a one-tab Excel sheet with half the model filled in and you fill in the missing gaps. The more challenging piece is the case study that accompanies but is separate from the LBO where you have to provide a writing sample where you break out the investment highlights of a given company. Even that though is a breeze compared to what some banks ask out of lateral candidates.
Interested also!
I'll be happy to trade test from other banks if anyone needs.
Interested.
PMd
.
Pm'd
Would you be open to sending me the material as well?
Milwaukee or Chicago?
What's the Baird culture like? I heard they laid off a ton of people last summer
Baird culture is strong. There is a "no asshole" policy and there have been recent terminations for folks that do not adhere to that policy. Overall, people tend to be nice and are invested in development so long as you demonstrate the passion and work ethic.
You are correct that some people were unfortunately laid off, but the situation is nuanced:
1) As a result of the pandemic early in 2020, the normal course "coach out" sessions post bonus didn't really happen
2) All M&A dried up overnight and no one really predicted the subsequent wave of deal activity
3) Folks that were coached out were provided very healthy severance (6 months salary)
4) Part of the messaging was to preserve the incentive structure for the rest of junior bankers that were active, top performers, etc.
Obviously a tough situation and in retrospect, I think leadership would admit that they over trimmed, though I can sympathize a bit given their navigation of a black swan event.
The layoffs were much more than "coaching-out" They laid off nearly half of the associates in some groups and a good number of Vice Presidents. Plenty of those that were laid off had just been promoted in the previous cycle. It also wasn't just a black swan event. 2019 was a down year for the bank and bonuses were mostly flat from the year before. They were predicting 2020 to be even worse, but this was coming after the bank already had a down year and did a huge acquisition.
Though I will agree that the no-asshole policy is taken seriously and the bank is generally a good place to work despite the above-average hours you put in.
I too would be interested in a model for interview prep.
Case study and oversimplified LBO. Two hours.
Just make sure you do EVERYTHING the model test/case study prompt asks for. EVERYTHING THEY ARE ASKING OF YOU HAS BEEN CALCULATED BEFOREHAND. DONT STRAY FROM THE PROMPT.
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