Can you really afford to miss one or two technicals?
Can you miss one or two technical situational questions before realistically moving onto the next round? If I sounded like I knew my stuff and the concepts but chose the wrong answer ultimately is that a ding despite getting the fundamental technicals (prior to that) right that I need to know (i.e. DCF, valuation, accounting)? It seems like I hit it off with the guy and we had a lot in common. I just thought I had them in the bag, but he had a different way of looking at it. The bank swings more into fit based on what I’ve seen. Any thoughts? Just want to know my chances, lol.
Thanks, everyone!
What is the group/bank size (BB,MM,EB etc.). Missing a basic technical is a big ding, especially those that they drill into your head like Dep. through the statements, walk me through a DCF, M&A process. But if they are stretching you to your limits, like asking wild multistep changes on the 3 statements or situational questions that aren't simple to do in your head then you are probably fine.
Also, Sometimes it may have just been a bad day for the guy, someone made a better impression or you didn't say something he was looking for on the interest in X bank section. IB recruiting is a formula up until the start of the super day, after that its a crap shoot.
Appreciate your insight. Just for confidentiality it's a MM but I didn't miss a basic technical or anything like that it was just towards the end where he asked me to choose one or two scenarios for a particular transaction. He appreciated my way of walking through the answer though at least. Sometimes decisions could be pretty much anything. I'm curious to know the turn out as we hit it off and I felt like this is a guy I would like to genuinely work with.
Unfortunately, there really is no way to tell. I have had interviewers jive with me and dive into the pitch of "here's why you should join us" only to get the rejection 3 days later. On the opposite end, I have had other interviewers seem wildly uninterested the entire interview (constantly checking their phone/looking off into the distance), only to have the super day invite come later that night and a very genuine response to my thank you note.
Again, it's a crapshoot and it really isnt worth the worry. I totally get WHY people worry, but unfortunately there is no way to tell how conversations went behind closed doors. You did your best, the rest is up to chance honestly.
Obviously depends on the bank but I wouldn't stress it too hard. I've also had interviews where I missed a more advanced technical (same story as you-knew my stuff but had a different way of looking at it than an interviewer). Similarly, the interview also went well in terms of fit. In my case, I ended up advancing to the next round, so it's not a guarantee, but if you had a decent rapport with your interviewer and that was your only mistake, you might be alright.
Impossible to know. Technicals are just one aspect of the interview. Technicals can be learned through training/repetition. But having an unlikable personality isn't fixable. It all depends.
Every interviewer is different. Group cultures are different. Maybe you miss a couple of easy technicals but you hit it off talking about sports, life, etc. No definite answer.
That's true an unfixable personality is just that but if you seem put together and trainable then I don't see the problem. It's a pretty chill group too it would be a shame if I don't get it.
That’s what happened to me and worried
The answer really depends. During a technicals/quantitative round, I missed "What's 8^3?"- I said 720 - but I answer much harder finance-related technicals. I didn't even realize it until I casually asked the guy in the end. He was chill and we both had a laugh.
Those type of analytical brain teasers trip us up because people aren't really used to adding up numbers in their heads all the time. I feel like technicals are important to do the job but banking is built on teams and camaraderie. So I'm happy you laughed it off and all because the process doesn't have to feel "doomlike".
Depends on the interviewer and the other candidates in the process. In some cases, yes. In others, no.
It is possible to completely bomb technicals and get an offer if you connect with all of your interviewers. Have seen this happen at a BB. Guy ended up interning, getting a FT offer, and accepting.
With all of the guides out there, technicals are really a check the box sort of question. Some places & people care more about that box than others.
I think this is key, at this point EVERYONE knows basic and some advanced technicals because they are drilled into our heads from freshman year and onward. It really is the fit questions, and your ability to carry a conversation that puts you ahead (and experience of course).
True. Sometimes I feel like the caliber of candidates and standing out is what makes it tough. Like how can I win them over?
Wow that person was lucky as he probably was charismatic and really trying to make a personal connection as he wanted to mesh with the group. Glad it turned out well for him.
Got it. Some care and others won't. I would be a little wary about someone that's only about that but to each their own.
I don't think anyone is only about technicals in grading a candidate, though during super days usually one or two interviewers will be assigned to basically just ask technicals.
Plenty of candidates that can use real world examples (walking through how they handled something while building a model as part of a case competition, personal investing, interview prep, whatever reason) do well in interviews, even if they don't get the question "right". If you ever interview on behalf of your team, you'll realize pretty quickly when it comes to technicals about 50% of candidates legit sound like they're just reading the @WallStreetOasis.com guides verbatim.
Depends on who you have pulling for you and what channel you’re going through. Know a girl who got exactly 2 technicals in the whole process. Both in the first round and missed them both and got an offer and converted FT. They were
1. What does ebitda stand for? (She said something whack for I)
2. How does a $10 change in depreciation flow through the 3 statements? (Didn’t know)
no technicals in the super day. 100% behavioral. Lol
Damn what kind of bank is this? Was she like through a referral connection? She must have done something right at least that impressed them. Goes to show even if you slump on the basic technicals you could still get an offer sometimes. The process is so random lol
100% behavioral for superday?! Must have been nice. Geez they handed her that offer basically.
Most BB interviews arent very technical tbh. If youre from a target and have a decent GPA, youre definitely smart enough for the job. The training teaches everything you need to know, except for how to have a likable personality that people are fine working with
Hi, what sort of training would you get and for how long?
I messed up the FCF formula and corrected it a little while later during the interview. Still got the offer. Had another Superday where I nailed all of the technicals (interviewers told me so) and got dinged anyway
Just want to add I think it also depends on the stage of the interview process...I remember missing one technical in the first round that led to my SA offer but really connecting with the interviewer and nailing behaviorals, but you can believe I studied my ass off and didn't mess up again at the superday
Depends 1) how important that question is to them, 2) how much they like you and 3) how much they like other folks and how many other questions they miss.
I think you need to check the box type questions for sure. The thing that might trip you up is check the box items for the industry group they're in though. I.e. need to know capital vs. operating lease treatment if that group deals with real estate (for sure), or share-based compensation treatment if that group is in tech.
Looking back, I think almost every technical I've been asked in the past has been something that the interviewer would have expected me to know. Your best resource is to talk to people that are in that industry group / role or have been in the past, and ask them what the expectations are.
I was going to reply but this is really well put and I fully agree with everything you said.
If you get one wrong/don't know the answer, the way you approach the interviewer can make or break your interview. It's best to just say I'm not sure but I'd approach/think about this questions like xyz rather than trying to piece together a bullshit answer you know you don't know. This happened to me personally and I basically said "I'm not sure how to solve this question but let me walk you through how I'd propose solving this. Please step if I say anything wrong or off-base". Thought I wouldn't get the next round but later learned I did because the two associates talking to me were impressed with my composure and answer. In all fairness it was a pretty tough question and not a "check-the-box" type but one could still use the same response.
yes
As others have said, it depends.
I know that, if I was interviewing you, it would specifically depend on me thinking if you understood the core concepts but just missed/didn't know something. Unless I don't think you will be a good analyst, I don't really "ding" people if you miss something small. If you calculate FCF as the same as Gross Profit, or something silly like that, then yea, you're not getting to the next round.
What was the question and what was your response? At a high level. Note that I'm asking more out of curiosity and less because I, or anyone else, will be able to predict the future.
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