FIG Interview - Lateral hire position
So-
I interviewed at a BB for a lateral hire position, and now have a superday with the Fig group (only three made it).
I don't have prior fig ibd experience, but my resume is fig related and they want an analyst w. FIG experience- nevertheless, I made it this far.
Any suggestions on what I should prep on?
get the M&I interview guide it has a new section with FIG questions. otherwise be able to speak about your experience before, know the different valuation metrics, and know how FIs operatate, but I am sure you know that already.
Ehh, don't have time for that......................Can anyone help out?
Key valuation metrics (can't use EBITDA) Recent Deals in the space Anything else I should talk about? (Basel III?)
So, FIG basically does cap raising, M&A, etc, for financial institutions?
When's the interview?
If you don't have time to prep yourself on the basics, then they're going to wonder how interested you really are.
okay- didnt want to post this initially to let ppl know what bank it is, but it's a first round and the guy emailed me yest, for an interview tomorrow. So, I know DCF, etc, and can build accretion/dilution/lbo, etc, but don't know shi* about the FIG IB industry.
Use equity multiples like p/e, book-val to market-val. Use a div discount model instead of DCF. Can assume a growth rate of deposits, an outlook on future reserve requirements, assume you lend out max, and calculate interest revenue. You'd be doing a lot of equity raises. Talk about how you see consolidation in the future, especially with smaller banks.
FIG M&A Interview -- Advice Needed (Originally Posted: 03/09/2011)
Hi all,
I have an upcoming interview for a position as an associate in the financial institutions M&A group of a top boutique. I'm not currently working in finance, although I am in a related field.
Does anyone have perspective on whether the interview questions will be standard modelling and accounting questions or whether they could be focused on the unique aspects of financial institutions modelling? Not sure what to expect.
Many thanks,
If you aren't working in finance currently and they invited you in for an interview, then I think it's safe to assume they can't ask you anything too technical about FIG modeling. They should know from your resume that you don't have FIG experience.
It would probably be wise to spend some time thinking through how various financial services companies are valued and why (tangible book value, book value, AUM, EBITDA, etc.).
bump
FIG Interview Prep (Originally Posted: 01/24/2014)
Hey all,
Junior in the middle of SA recruiting right now. I have a few offers, but I am in the process of preparing for a superday with a more "preftigious" FIG group. I'm good on basic interview prep, just wondering how to prepare for a FIG specific interview.
Any help would be greatly appreciated. Thank you in advance.
since its entry-level, i doubt they expect you to know a ton specific to FIG. I'd just go over ddm model and why it makes sense for financial institutions (think about the function of debt for these companies).
good luck!!
Maybe review the difference in the income statement line items.
FIG Interview - Insight on questions? (Originally Posted: 12/01/2012)
Could someone provide me with some insight into what might be asked in an interview for a financial institutions group or bank that specializes in financial institutions (KBW, Sandler, etc).
Only first round over the phone, so I am imagining it will be mostly fit type questions, but curious if there are any technicals that would come up and be different from a classic IBD interview.
As a preface, take what I say with a grain of salt since I'm not a FI analyst -- but I've done some transactions in FI and have friends in FIG at other banks.
It will often depend on your personal background as well as the particular interviewer, but 1st round FIG is typically similar to standard ib interviews with a few differences. It may be mostly fit with basic technicals, but I would make sure you have a firm grasp on the area of FI that bank tends to specialize in and the key differences of how those businesses are valued. For example, if you are interviewing at a firm that has done several commercial banking deals recently you need to focus more on understanding how the valuation of a bank is different than a "typical" company. Insurance is also going to be different, but there may be a separate insurance group at that particular bank.
Investment banks, wealth management, and FI technology will be more similar to the standard technical approach.
my two cents:
why banks are different from other companies / industries?
why use DDM instead of DCF for banks?
why P/B is more relevant for banks?
Should be fit, but when I interviewed they asked typical methods used (DCF mainly), why, and my thoughts on the difficulty of giving a fair valuation to hedge funds in comparison to traditional asset managers, for example.
Hm interesting and thank you for all of the help. I'm imagining with this first round it will be fit, but this will be helpful for later rounds and if they do throw some technicals at me.
Also, read up on the KBW Index, it gives you a sense of the universe and also you can talk high level about the sector's performance. My 2 cents.
Regulatory environment, anyone...?
Bump- have this on Tuesday. If anyone has anything else that would be awesome.
Also quick question- anyone know what the comp is for these places? Company database has analyst at Sandler 60k base and 15k bonus (75k all in) and associate at KBW like 70k all in. Is this accurate or is pay basically same as non FIG firms on the street?
Bump- anyone have other tips?
FIG Banking Interview (Originally Posted: 08/31/2009)
Hey, I'm looking for a quick answer on what valuation models FIG analysts / associates are building to value Banks/Thrifts these days (i.e., dividend discount model, FCFE DCF...) THANKS.
you have to use ddm for anything (e.g. banks, insurance, etc.) that requires a certain level of equity to fund the operations of business.
[Updated] Phone interview MBA FT Associate BB FIG (Originally Posted: 01/24/2014)
So I was told by the alum I networked with that they will set up a superday (next few weeks). In the meantime, he wanted to introduce more people from FIG to me. I guess the more people I meet before the superday, the better?
==================== Hi Monkeys,
I have a phone interview on Monday with a BB FIG group, NYC office. This is a full-time position, and I have no banking or FIG experiences.
My connection said they will grill me on why FIG and FIG specific technical.
Thanks,
Bold move, intimidating your interviewer shows some serious balls. I'd give you the offer on the spot.
Stupid auto-correct...thanks
http://www.investopedia.com/features/industryhandbook/banking.asp
There are also a few good discussions on here about FIG group. M&I has an interview about FIG as well.
Perhaps also read a little about Basel III, etc.
Thank you Anihilist
No problem; hope you get it. FIG is awesome, good luck.
Tell them you just love book value and you wanna run off banks
I've done 3-statements for P&C insurance, have never played with banks. Does anyone have a simple 3 statements model for small regional commercial banks?
BIWS has a guide (or part of it) specifically for FIG. It's like 55 pages.
Do you think BIWS is sufficient ?
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