Recruiting for a few investment banking VP roles, making the move from a boutique IB to MM firm (think WB, Baird, Lincoln International, HW. HL, Piper etc)
I'm curious to know how the interview process/questions compare to the analyst/associate stint. I've worked on & closed over 6 deals in the last 3 years, and can speak about each one in detail. I've even brought in my own deals.
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The interview process for a Vice President (VP) role in investment banking is significantly different from that of an Analyst or Associate. Based on the most helpful WSO content, here’s what you need to know:
Client-Facing Skills Are Key:
At the VP level, the focus shifts from technical execution to client interaction and deal origination. Your ability to demonstrate presence, finesse, and the capability to handle client relationships will be heavily scrutinized. Unlike Analysts or Associates, where technical skills dominate, VPs are evaluated on their ability to pitch ideas, manage client expectations, and lead discussions.
Deal Experience and Leadership:
Your track record of working on and closing deals will be a major talking point. Be prepared to discuss the specifics of the six deals you've closed in the last three years. Highlight your role in each deal, the challenges faced, and how you contributed to the successful outcome. Additionally, your ability to bring in your own deals is a significant advantage and should be emphasized.
Team Management and Leadership:
As a VP, you’ll be expected to lead teams and mentor junior staff. Interviewers will likely probe your experience in managing teams, delegating tasks, and ensuring the quality of deliverables. They may also ask about how you’ve handled conflicts or underperformance within your team.
Strategic Thinking and Origination:
Unlike Analysts or Associates, VPs are expected to contribute to deal origination. Be ready to discuss your approach to sourcing deals, building relationships, and identifying opportunities. Your ability to think strategically and align with the firm’s goals will be a critical evaluation point.
Technical Knowledge Is Still Important:
While the focus is less on technical execution, you’ll still need to demonstrate a strong understanding of financial modeling, valuation, and transaction processes. Be prepared for high-level technical questions to ensure you can oversee and guide your team effectively.
Cultural Fit and Networking:
Middle Market (MM) firms like William Blair, Baird, Lincoln International, Houlihan Lokey, and Piper Sandler place a strong emphasis on cultural fit. Your ability to align with the firm’s values and work collaboratively with the team will be assessed. Networking and relationship-building skills are also critical, as they directly impact your ability to bring in deals and manage client relationships.
In summary, the VP interview process is more holistic, focusing on leadership, client management, and strategic thinking, while still ensuring you have the technical foundation to oversee your team. Your deal experience and ability to bring in business will be significant differentiators.
Sources: Q&A: GS/MS IB Analyst —> Megafund PE Associate —> HBS/GSB Business School, Guide for Investment Banking Full-Time Recruiting, A Guide for Switching From Commercial Banking to Investment Banking, PE interview at VP / Principal level, Interviewing for a SA or Analyst position? Here's what I'd want to hear as a VP.
I switched from one BB to another BB at the VP level. My interview questions were very easy.
- Why do you want to switch banks?; tell me about yourself; walk me through deal X on your resume and what role you played in the process; if you were to present to a company’s BoD on X topic, how would you structure the materials/what analyses would you run?; describe how you interact with junior bankers, as well as senior bankers
MM banks might be different than BBs though. BBs don’t really care about VPs having client relationships / being able to source deals yet.
Very helpful, thank you! What was the typical timeline for your lateral process? Also open to BB laterals as well
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