Got an interview for a "big 3" ratings firm, what kind of questions should I expect? Technical or mainly fit? Background: applied sciences, 3.9/4.2 GPA, interested in finance but probably lack the technical knowledge compared to business/finance majors! Any help/opinions welcome!
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It will vary by analyst but generally, it will be both. I used to do interviews when I used to work at one and have some input in the hiring mainly for the more jr level hires. Since at the more entry level, we assume everybody has more similar skills (but to be honest, we wanted someone with an accounting and business background).
Overall, I suspect they'll ask if you are aware of any adjustments, some technicals (what credit metrics would you focus on... this will vary by industry/sector), why credit analysis instead of something else, where do you see yourself. Also have an idea where you think interest rates will be going as they might ask some market related question just to see how you respond to it even though they don't know the answer.
My tips... -Find anything you can on accounting so you can grasp the basics. Since you don't have a business background, you will be at a major disadvantage. The industry you're looking it will also dictate what to focus on.
-Say you plan to enrol in the CFA. That'll show how serious you are, and that you'll advance your fundamental knowledge.
-Find the criteria for that rating agency. They publish it usually for the public. So just try to get the basics... usually it's business profile, financial profile, liquidity.
-Why a rating agency... from your understand, it's a great place to learn the fundamentals -Try to emphasize you know it's about client focus. -Also regulation is heavy, but that is general across the industry (it will be alot of regulation which will really be a headache). Basically try to get across you are prepared and ready for it. Alot of new grads think it will be this magical ride, but often get frustrated at all the processes one needs to know. -Understand EBITDA (they might ask if you think it's a proxy for cash flow) or what main source of earnings is used for that industry.
Overall, they're looking for attitude, how relaxed you can be while demonstrating your knowledge. The question I asked myself was "do I want to come into work everyday and work with this person" since it's a human capital intensive industry. In addition to doing alot of the grunt/administrative type work, they'll look at long-term potential in terms of taking on more primary credit coverage, presenting and interacting with clients (who are high level executives). So don't come across overly aggressive or excited in the interview.
Thanks wallstreetgodzilla, that's a major help! I probably should have specified more on the position, it's a summer internship in credit research, I've got some accounting and economics modules on my transcript already but only a couple!
Any update on this?
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