Wells Fargo IBD SA 1st Round

I received an email earlier informing me of a phone interview on Wednesday with Wells with an analyst and an associate. I tried using the search function and couldn't find any information on the topic, so any insight about what may be asked would be greatly appreciated. I believe this is for the NYC office.

I will be sure to throw SB's to those who help. Thanks in advance guys.

 

I have one too, I've heard mixed things about first founds from WF from what I've read. Some people say it was very technical focused and asks a lot on the financial statements, but some say it was really laid back. Not sure what to expect. How are you going to prepare?

 

I heard from someone at my school that the technicals were very basic, but the two people I'm interviewing with worked in the Leverage Finance group, so that scares me a bit. I'm just gonna go through a guide or two and really get my story down pat. Other than that I don't know how else to prepare. I'm hoping for more fit based questions as compared to behavioral, but I guess we will see

"My name's Ralph Cox, and I'm from where ever's not gonna get me hit"
 
FeedMeDealFlow:

I heard from someone at my school that the technicals were very basic, but the two people I'm interviewing with worked in the Leverage Finance group, so that scares me a bit. I'm just gonna go through a guide or two and really get my story down pat. Other than that I don't know how else to prepare. I'm hoping for more fit based questions as compared to behavioral, but I guess we will see

LevFin is top. Good luck.

Robert Clayton Dean: What is happening? Brill: I blew up the building. Robert Clayton Dean: Why? Brill: Because you made a phone call.
 
Best Response

Incoming FT-ER for 2015 class in NY here.

Story is key, especially from a non-target school. Make sure it comes full-circle and explains why you're there.

When they ask why Wells, be sure to mention that you attach a lot of value to the opportunity to work for a bank that is growing and pushing on the bulge-bracket wall. Also, discuss accessibility of senior bankers. Many bulge bracket juniors don't have the opportunity to interact with VPs and MDs as much as they do at Wells. Heavily valued at this shop. Many of the guys I spoke with prior to my superday harped on this.

My phone interview was also with a LevFin associate, and he was fairly technical. Generic stuff however. Be prepared to dive into ANYTHING on your resume. If you've embellished past roles or the work you've done in them in any way, good luck.

Pretty Generic Techs: WACC calc, CAPM calc, DCF walk-through, $10 of Depreciation through the 3 financial statements, how the three statements are tied... Was also asked what the line-items are in the calculation of EBITDA.

 
TheConsigliere:

Incoming FT-ER for 2015 class in NY here.

Story is key, especially from a non-target school. Make sure it comes full-circle and explains why you're there.

When they ask why Wells, be sure to mention that you attach a lot of value to the opportunity to work for a bank that is growing and pushing on the bulge-bracket wall. Also, discuss accessibility of senior bankers. Many bulge bracket juniors don't have the opportunity to interact with VPs and MDs as much as they do at Wells. Heavily valued at this shop. Many of the guys I spoke with prior to my superday harped on this.

My phone interview was also with a LevFin associate, and he was fairly technical. Generic stuff however. Be prepared to dive into ANYTHING on your resume. If you've embellished past roles or the work you've done in them in any way, good luck.

Pretty Generic Techs: WACC calc, CAPM calc, DCF walk-through, $10 of Depreciation through the 3 financial statements, how the three statements are tied... Was also asked what the line-items are in the calculation of EBITDA.

Had an extremely similar experience to this for the IBD (advisory) SA interview last year as well. Very focused on the why WFS aspect and asked a lot about my personal interest in the markets & how this related to my interests in IBD. Technicals were typical, not ridiculously easy or anything, but nothing out of the ordinary. Know the 3 statements well along with being able to briefly walk through the few valuation methodologies.

 
MrF:

Last year, my first round was at the beginning of December, final round was in mid-December and found out results in January (mid Jan, if I remember correctly).

Thanks for the recollection. It seems like they pushed the recruiting process this year half a month up. Do you suspect that offers will be made in early Jan as oppose to mid?

 

just had mine earlier today. Was like 10 minutes about myself and my story, 10 minutes of technical questions (walk through a dcf, run a PPE purchase through the statements at purchase and at year end, what is the discount rate used in DCF, what is working capital and what does it measure, examples of current assets and current liabilities) and then talked for like 20 minutes about any questions I had. Very casual and enjoyable.

"My name's Ralph Cox, and I'm from where ever's not gonna get me hit"
 

I have my phone interview the end of this week for the Wells SA (IB track). I'm also at a non-target. Any suggestions/insight beyond what has been said already in this thread?

 

1st round S&T interviewer sent me an email this morning. During 1st round, he indicated we'd find out about superday on Nov 26th. In his email, he apologized for their delayed response and told me several interviews had to be scheduled/rescheduled for tomorrow- they'll likely be notifying us about S&T superday tomorrow or Tuesday.

 

@"feedmedealflow" @"alphasigma" @"TTG413"

Did you guys get questions on LBOs and M&A?

"I know you think you understand what you thought I said but I'm not sure you realize that what you heard is not what I meant."
 

negative. see my previous comment for the technicals I was asked. I don't have prior experience in banking, so I'm assuming thats why I wasn't grilled too hard.

"My name's Ralph Cox, and I'm from where ever's not gonna get me hit"
 

I was told that they were either going to inform before or after the holidays. I would not read into anything as it is out of your hands. Just wait for a response from their end and continue to interview elsewhere. If there's anything I've learned, it is to stop worrying about something that is out of your control (I know.... Easier said than done).

 

Thank you! super day is held in Charlotte but their equities trading floor is in NYC, fixed income is in Charlotte so location would depend on division. They evaluate all candidates for S&T independent of division and make division decisions following super day (presumably with some candidate input). I'm more interested in fixed income but I think convertible bonds (housed within equities) would be interesting.

 

Thank you! super day is held in Charlotte but their equities trading floor is in NYC, fixed income is in Charlotte so location would depend on division. They evaluate all candidates for S&T independent of division and make division decisions following super day (presumably with some candidate input). I'm more interested in fixed income but I think convertible bonds (housed within equities) would be interesting.

 

Hey guys good luck on everything. I have an offer and am accepting it at Wells for the summer in Charlotte. Would like to connect if anyone is going to charlotte for the summer. I am from there so also can answer questions about that as well. I'm at a target and got an offer on the spot first round so if other associate candidates read this don't feel like you are out of luck.

 

Your post freaked me out a bit haha, still waiting to hear back from the superday last friday. I'll be sure to shoot you a DM if things go my way and I get the call. Congrats though man, that's awesome

"My name's Ralph Cox, and I'm from where ever's not gonna get me hit"
 

i got a first round phone interview. know plenty of higher ups, met with about 5-6 IB analysts. its about 40/60 fit/technical. and the technicals arent easy. i got a decent ways into the technical and got tripped up on something and was honest about it and they appreciated the honesty but apparently even though both interviewers really liked me i didnt know as much technical as a few of the other kids and they only gave out 2 offers and I was going to be the 3rd for second round phone interviews. so i didn't get the offer and only found out why b/c i knew the senior guys who went and found out for me. wells is very cut throat this year. make sure you know what the s&p 500 and 10 year treasury yield closed at the day before and know yield curves (one of the 2 guys was an MD in convertible securities). be able to talk about a current event. those were the S&T typed questions i got since they interview you for both if one of the guys is in S&T even if you dont want to go that way.

 

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