Got a first round interview with Credit Suisse coming up - trying to figure out what tf I can say as to "why Credit Suisse" given they're kind of in the shitter right now. Obviously will reference people I've networked with but it's difficult to explain why I'd want to work at a bank that no one wants to work at. Any help would be fantastic.
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Don’t answer it matter of fact don’t do the interview, why would you put yourself on a sinking ship?
Sinking ship better than open water.
Rather die fighting tbh
This mf spittin
Except when you’re trapped inside the sinking ship
Ayeo, when that mixtape droppin 💿 📼 🔥?
Kind of feels more like the Indianapolis where you sink and get eaten by sharks
'I've always been drawn to a challenge and I figured if I can help turn Credit Suisse around, I can probably tackle anything'
With social intelligence this low, I’m not sure if you’re cut out for even CS anyway.
Why xyz firm is like one of the easiest questions in any interview. Figure it out lol
It's a Saturday night buddy touch some grass instead of anonymously insulting undergrads online
ur the one asking for advice bro lmao
Lol you’re the one shading a bank asking like it’s some hardship to make up a BS answer to a softball question. It’s quite the ballsy move to talk shit about firms before you’ve even had an interview, let alone worked a single real day in finance.
It took you more time to create this topic and respond to people than it would have to Google answers and prepare for the interview, which is what you should be doing if you actually care about getting into finance. Maybe once you land a “better” offer you can afford to shitpost like this about CS (which to be fair, they deserve, just not from prospects lol)
You understand the firm is at a transition point but you like that because that gives you the rare opportunity to join a firm at the ground floor. It’s a challenging period, but that creates opportunities to step up. The firm is in great hands under Michael Klein’s leadership. The leveraged finance platform speaks for itself and the firm works on some of the most aggressive and interesting LevFin deals out there. Also, everyone will have quit by the time you start, meaning you will get most of the choice projects since the experienced juniors will be gone.
(don’t say the last part)
This is a good answer. I wouldn't necessarily use "challenging period" and would be careful lauding the Lev Fin stuff if you are interviewing for non Lev-Fin groups of course - but otherwise spot on.
CSFB will be a separate brand from the rest of the bank - I would say something like they are in a unique spot, in between the sprawl of BBs but offering more services than advisory-only EBs (this is straight from their marketing, they are calling it a "superboutique") and that combined with excellent leadership makes it a great time to get into an interesting new bank.
You don’t have to mention LevFin specifically but imo it’s usually good to jerk off whatever they pride themselves on. So if it’s BOFA you can mention the synergies from the corporate bank / lending capabilities
This is actually really solid advice, thank you!
Imagine saying this in an interview and the interviewer replies: "good answer, im actually 'VP in IB - Gen' who posted it on WSO ystd"
lmfao I'd shit myself if that happened
Something similar happened to me years ago. Bank was doing 2-3 phone calls as part of the first round. On first call, got a technical I didn't understand, and went to ask WSO about the logic. Next day, I'm on the next phone call with someone else at said bank, get asked same question. This time I walked through it correctly based on feedback from WSO. Interviewer said yeah that's correct, but I would've gone with the [Insert funny metaphor another poster had shared in the WSO thread]. I did not move on to the second round.
I think this is a great answer, but I worry that it is a bit presumptive given they have only said they are spinning out investment banking into FB (they got the rights to FB btw). They haven't said who what when or where. I think they are laying more out soon but it's not at all clear who would be "going with" the spin and who would be staying. For the purposes of a Summer Analyst interview, I don't think you touch on the FB spin unless specifically prompted.
Did banking at a European competitor a few years back but imagine some of the below might still be relevant / helpful:
- global platform is something that you’re interested in because working on cross-border deals is appealing to you
- as a full-service bank, ability to leverage wealth management, asset management arms to be a well-rounded advisor to clients
- reference people you spoke to, etc.
hope this helps.
As someone who had an AC at Credit Suisse recently I would say:
- Company is in a unique position of turnaround in their history. Like other commenters here, they are absolutely right that Credit Suisse First Boston will be a very very good firm and have strong leadership and experienced bankers heading up the shop there.
- CSFB will be able to utilise their strength in advisory whilst maintaining the brand image and network that CS holds.
Sure CS is in choppy waters, but in 3-4 years with First Boston, it'll be a great place to work at.
-you have issues with saving money so the bonus being paid in 3x installments appeals to you as you simply don't have self control to get one lump sum
-you are a humble man and feel uncomfortable getting paid excessively high wages. The muted 10 to 20% of base bonuses of CS while still having to work classic IB hours fit better with your salt of the earth protestant work ethic and Midwestern ideals
-you have made serious mistakes in the past and feel a kinship with CS over the Archegos affair, money laundering, and corporate spying. Everyone deserves redemption from their sins.
This comment redeemed us all from some of our sins
…susceptibility to the Stockholm syndrome and complete disregard to the news / reality is the only logical “constructive” answer here. I’m still trying to understand who has hurt me in the past to put self through.
Is this for 2024 SA? Didn’t know first rounds were out
"I've always wanted to work for a bank implicated in numerous money laundering, global finance corruption schemes, and potential terrorism financing issues. Quite frankly the seems like the perfect place for me!" - NSA/CIA/FBI this is clearly a joke, calm down.
While credit suisse is a shell of its previous glory, you want to work for a niche third tier bank that is strong in sponsors and lev fin, which capability to do unique deals.
Cause you need money to live?
That’s the real answer but generally not considered acceptable.
I need money and you need Excel work. Let's F'ing go.
I wouldn't call attention to the state of the bank. Just say you spoke with XYZ people who attested to a great experience with the analyst program. Still say all the typical reasons someone might have said for wanting to go to CS a few years ago. It's not like it turned into a third rate boutique in Tupelo overnight guys
Generally CSFB will benefit from being independent - less control from authorities like FDIC, SEC, FRB and more lean - unlike big BBs. However, the firm will also be big enough to serve clients from all regions like other BBs. Moreover, he mentioned that as a smaller player, you can choose the winners as your clients. He hopes to bring the M Klein & Co cultures to the new entity. The firm will be entrepreneurial, operating in a partnership model. He wants the people who work at the firm feel like they own it rather than just getting paycheck, staying for 2 years and just leave.
Information from Michael Klein himself as he came to give a talk at my school last week.
try your best to bullshit. i ask this question to gauge people's ability to bullshit things that might make sense
Are you diversify? Just curious if they’re doing interviews for non diversity yet
I like to live dangerously
When push comes to shove, just say something like "after talking with x, y, and z, I really think the culture at [insert bank] sets itself apart from others. I think that I can have a long career here because of the engagement from seniors to do blah blah blah"...every interviewer has some level of stockholm syndrome and will eat up stuff about culture and longevity.
Talk about the generic stuff (exciting deals, supportive work culture, if it's a boutique then leaner deal teams/in house modeling but I guess that doesn't apply for CS) and then name-drop the specific analysts you talked to
Because I want a job.
Because I see the changes that is happening at CS and I want to be part of that.
Because I like money.
Because I am the next Leon Black.
My dad is Bezos and will be able to drive a lot of deal flow to CS and I know you need it.
The execution part of LevFin (LFCM) has been gutted and more senior departures are expected in LevFin Originations/FSG...so I'd be careful about that side if that is what you wanna do.
This is easy : some bs about you want to be part of the shift to a new brand and greater independence. Will engender a hungry culture
Obviously cringe but cmon this question is easy for banks undergoing change
Bro, just think of it as a contrarian play. You're like the Warren Buffett of investment banking, going against the herd mentality and betting on a comeback story. Plus, if things go south, at least you'll have some great material for your senate hearing.
.
“I’ve always wanted to tour the titanic, this would be a great way to watch the ship go under after hitting the iceberg!”😉
"Because I like my bonus paid in 3 tranches, stops me from blowing it all in one weekend"
"I'm really into turnaround stories"
Alternatively, "I'm really into dying franchises"
is this a troll post? lmao if not I'm def not looking forward to working with low eq kids like you
really hope its a joke
you totally sound like the kind of colleague people look forward to working with !
go study technicals kid hop off wso
I worked with Michael Klein at Citi back in the day. He is a rockstar. Making a deck for him is definitely high stress, but he knows what he is doing.
As an AI language model, I cannot make personal recommendations or offer individualized advice. However, I can provide some information about Credit Suisse as an investment bank to help you make an informed decision about whether it could be a good fit for you.
Credit Suisse is a global investment bank that offers a range of services including investment banking, private banking, and asset management. Some reasons you might consider working for Credit Suisse include:
Global presence: Credit Suisse has a strong global presence, with offices in over 50 countries around the world. This could provide opportunities for international travel and the chance to work on projects with colleagues from different backgrounds and cultures.
Industry reputation: Credit Suisse is a well-known and respected investment bank, with a long history of success in the industry. Working for a reputable company can be beneficial for your career prospects, as it can provide opportunities to work on high-profile deals and gain valuable experience.
Diverse range of services: Credit Suisse offers a diverse range of services, including investment banking, private banking, and asset management. This could provide opportunities to work across different areas of the business and gain a broad range of skills and experience.
Commitment to sustainability: Credit Suisse has made a commitment to sustainability and is working to reduce its carbon footprint and support sustainable investing. If you are interested in working for a company that is focused on social responsibility, Credit Suisse could be a good fit for you.
Ultimately, whether or not you should work for Credit Suisse will depend on your individual career goals and preferences. It's important to do your own research, evaluate your options, and determine what is best for you.
I would make a comment on how you're getting bulge-bracket training and exposure with something along the lines of "start-up" experience since CS is going through a major upheaval.
Obviously word it more kindly, but you can just say you'll get the best of both worlds as it re-invents itself while still working for a huge brand name.
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