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) ?
I started off strong, getting first 3-4 technicals 100% and showing a good understanding however I accidentally gave wrong answers to specific industry questions, messed up and said DCF is the best way to value a healthcare company and mutiples to use are EV/EBITDA and P/E although ik its not right for that industry but usually it is overall in general. Like conceptually I understood for general companies but said the wrong answer for that specific industry.
It seems like I really hit it off with the guy and we had a lot in common. The bank swings more into fit based on what I've seen. Any thoughts? Just want to know my chances, lol.
Wtf stop tweaking
Depends on if you’re diversity
Said what nobody else dared to say
Thank you intern, we were all waiting for you to say it
diversity but that money still green tho
What is that even supposed to mean?
that they artificially lower standards based on race and gender to appear more progressive
when, in reality, moving the goalposts is regressive
nobody complains about the diversity of plumbers, garbagemen, construction workers, coal miners
as somebody previously commented, this whole corporate wokism is solely a product of 0% interest rate environments…nowhere else in the world do you see this kind of phony wokism
No one complains about diversity in plumbing, garbagemen, construction and coal miners because those types of blue collar jobs already have a ton of diversity already. Figured that was obvious but maybe some people are that dumb.
just cope with the fact that your ancestors had all this time to run their bag up but they couldn't establish a system of nepotism for you. so many successful white people working at the top firms and you aren't one of them. also, as a black prospect who knows most of the best black prospects out there, we all know our technicals just as well as the non-diversity that gets recruited during the regular cycle. Only difference is that we are recruited from all over, we don't have to go to a target school in order to get a chance. Yeah its tough that non-diverse kids at nontargets get fucked, but it is what it is. If you are non-diverse and go to a target you have no excuses fr.
Correct. Usually by way of early diversity recruiting Spring Freshman / Fall Sophomore semester (I've participated as a mentor in one of these programs at my shop)
Let me make sure I'm understanding this correctly - you're basically saying "giving an easier set of techs to a diversity candidate is inherently unfair and puts them at a disadvantage to the other candidates they're competing against for SA/FT spots", correct? Just want to clarify, because I'm pretty sure I'm reading this wrong...
Plumbers, garbagemen, construction workers, and coal miners don't clear six figures immediately out of undergrad.
lmao, ok big dawg, you're going to definitely have to elaborate here. Explain to me how the FFR contributed towards affirmative action / "corporate wokeness", because I'm not seeing the connection between the interest rate banks charge one another to meet overnight cash reserve requirements and political correctness.
I'll wait...
knew a girl who got BB FT and the hardest tech she got asked was “what does ebitda stand for”
Holy hell. I did notice when I recruiting if the person on the other end seems to like you'll they'll make your interview easier. But this is kind of crazy.
holy shit please be satire
My school has pretty good pipeline into NYC BBs and I have been told that they mostly don't ask technicals and focus on 'fit' questions. The reason I was given was that diversity programs recruit earlier, so many candidates aren't well prepared with technicals (which sounds bs tbh, especially considering how forgiving diversity recruiting already is supposed to be)
If you're diversity, you'll probably not even be asked any technicals (at least at BBs)
Leaked technical questions:
What is revenue?
What is your favorite financial statement?
Are you litigious?
Attention all interns, attention all interns: doing a DCF is not rocket science. In 3 months everyone can normally do the same exact shit anyways, banks are training programs themselves. Study harder, and compete. Life isn’t fair.
Easy to say when you benefit from a system that moves the goalposts for you
These answers dont sound wrong
I missed a couple and was fine
It doesn’t sound too wrong, I mean what is a healthcare company is it an early stage biotech startup or HC services company ?
If you’re talking about like Pfizer I am not in healthcare but would imagine you do a DCF of current project cash flows along with probability weighted DCFs of new drugs in pipeline where you capture probability of completion along with potential future cash flows as well (just from hearing my HC/pharmacolleagues say “we need to do 50 mini DCF for this company”). EV/EBITDA multiple probably captures these too if you have the right comp set.
basically, depends on delivery but if the only mistake you made is saying EV/EBITDA can be applied to healthcare (assuming the company does have EBITDA/can be valued in that basis), should be fine
The most comprehensive answer was the ask which HC sector the company is in, but not really sure why that would be expected at an IB analyst level. Your answer is acceptable for a number of HC companies so I wouldn't worry about it. Hell, two years ago you could probably say Price/TAM and be ok for most growth-leaning companies.
DCF is the best way to value a life sciences/health care company. Life science/health care companies have unique IP portfolios that make the application of market/transaction multiples more difficult/less applicable.
Unfortunately 90%+ of DCFs are utter garbage because of the assumptions going into them and the multiplicative nature of compounding uncertainties, but yes, in an ideal world this would be how SMID-cap biopharma is valued.
It depends, if it’s for a specific coverage group (which it sounds like) they are usually looking for someone who has a genuine interest in that coverage. That being said, they are probably using those specific coverage technical questions as a metric for a candidates true interest in said group (if you like this industry you will study it kind of mentality). I botched industry specific technicals and was dinged almost every time, when I got them right I moved through.
I've interviewed lots of people in both investment banking and private equity, and I've never administered an interview in which the candidate got 100% of the questions right. Hardos on WSO focus on technicals because (1) it feels bad*ss to say you have "technical" knowledge and (2) it's the part of the recruiting process that feels more in your control. In reality, folks administering these interviews are just hoping that the person can walk through technicals reasonably well so we can talk about football (i.e. ascertain whether or not we actually want to work with you).
Work hard, prepare, but don't freak out over some random questions an analyst came up with using the restroom 5 minutes before your interview.
Which football?
Yes and no.
As someone who interviewed Analyst candidates I wouldn't expect them to know everything like for ex the treasury stock method if it was a more advanced question. There are exceptions to this like I once interviewed at Evercore in college for an internship and they expected me to know accretion / dilution with debt / equity consideration lol (as a junior in college which I think is ridiculous).
If you miss two though that's bad -
You'll be fine as long as long as you showed well behaviourally
Yes, I missed like ten and still got an offer due to my charm
Suscipit explicabo harum saepe eveniet tenetur. Ad tempora non accusantium. Dignissimos possimus labore consectetur autem ipsa et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Sed sed et facere quia minus voluptas sequi. Vel enim id fugit rerum non soluta ipsam corrupti. Id ratione harum quasi expedita voluptatem sapiente ipsa qui. Ullam est qui ratione beatae. Autem molestias voluptas occaecati eveniet. Ut natus aut magnam voluptatem. Expedita non omnis tempora occaecati illum similique.
Beatae sed aperiam voluptatibus culpa. Occaecati aut omnis esse quis est eum. Error eos at unde consectetur ut ut.