Do interviews get easier as you get more senior?
This is something I've found in corporate finance/accounting.
Interviewing for junior accounting roles was extremely high pressure. I got accounting theory questions fired at me, and often had to sit mini-exams as part of the interview, sometimes without warning. Half way through the interview a laptop would appear, here's a test, we'll come get you in a half hour.
I stayed at the same firm for 10 years and was promoted several times so by the time I started interviewing again last year, I was applying for senior management or business partner positions. Every interview was effortless. No technical questions, no tests, not even challenges around management or strategy. Literally just a chat to get to know me, and generic interview questions like 'so why are you looking to move jobs?', followed by a job offer.
How much of this is the recruitment market getting softer over time (post-COVID and the Great Resignation compared to recruitment immediately post-2008 crash), and how much of this is standard in finance career progression?
Bump
For an associate with experience role it was more a conversation with a group head and then with the head of fixed income. No technicals, also had one with a bulge bracket and it was the same group head, sector co-heads and a director. More a conversation around goals, “where do you see yourself in five years”, why this shop, etc. I would imagine at more senior levels it’s similar, but more of a focus on business development.
I'm at a MM shop and thinking about jumping ship to a BB/top MM like Jefferies. Would you say it's better to wait until I get promoted to Associate and apply for Associate positions, given that Associate interviews tend to be easier compared to Analysts', from what's being said in this thread?
PS: I know that sometimes if I "lateral up" I might lose a year, but still.
It's standard finance career progression. As you gain experience, your resume speaks to your technical knowledge/skills. Whoever is interviewing you can look at your resume and tell if you have the skills required. When you don't have experience, you get grilled so someone can see how much you know. Later fit is the main factor, due to the impact higher level positions have. Easy to replace an entry level analyst or accountant, with minimal impact to the team.
Maybe I don't have enough experience, but I have 2.5 years in IBD / Consulting and a year in Corp Dev (rounding up a bit here) and my last interview was incredibly technical. The position was for a Corp Dev Associate role. I think it is important to note that even 3.5 years in you can still get pretty technical interviews. I imagine if I interviewed for PE Associate roles they would be equally as technical, despite the fact that I would still be coming from the "buyside". With that said, obviously Corp Dev and PE approaches are very different, and require different technical capabilities (e.g., I have never built an LBO for work because there is no assumed "exit").
Just wrapped up interviewing for a number of Director level CD jobs after interviewing a little over a year ago for manager level roles, and I can say it’s definitely gotten easier. Both from the pressure I put on myself as I realize I’m up against extremely qualified peers and the interviews themselves. Most of the interviews are now in two parts: 1) background, deal experience, etc and 2) strategizing about the role.
Agree with this. Most of my interviews for senior-level roles in CD were more behavioral-based and speaking on my experience.
Not sure how applicable this is to overall job market - my company is known for their different approach.
But all around - as a recent hire and first year associate - the interviews were generally relaxed and were without much pressure. My own interview, in part through an impressive resume, was more conversational and inviting.
I blame this wholly on the current Great Resignation and all. Companies at the moment are desperate to have more people on the labour force. Made it easy for me to enter, so I can't dog it too much.
Even coming out college, my interviews were fairly easy. I have a good resume, high GPA and all that but it was still easier than I expected. Mainly just talked about fit, expectations, etc. cant complain too much lol.
Fitness and weightlifting is perhaps the easiest conversation starter ever, and it really helps in interviews too. Didn't come up in mine, but still included on my resume as one of my primary interests being diet & fitness. Put me in their good books.
Partway through my internship I just started talking to my manager about his weightlifting routine and how he could optimize it for his goals and I think that's one of those moments where if you're not autistic you can really secure the job.
Interviewing just as an associate is infinitely easier than interviewing as a college student. You’re already largely differentiated from your experience, so your swimming in a smaller pond. In many interviews for me, technicals were just a formality to say that the interviewer did them
In my experience yes
Yes, in my experience, interviewing is 1000x easier at the senior level compared to the Analyst/Associate level.
I'm at a BB in NYC, and am currently interviewing for roles in Europe.
The interviews do include a conversation where I talk about the deals I advised on, but there are no technicals, no Assessment Centers, and certainly no retarded questions like how many tennis balls can fit into a room or whatever.
Another perk of interviewing for senior positions is that you are often exempted from language requirements. More than a few of the places I am interviewing at exclusively hire French/German speakers for Analyst roles, but are perfectly fine with me only speaking English.
They also provide extensive relocation assistance outside of just giving you cash or housing allowance. In Denmark for instance, you need a CPR number, Yellow Card and NemID to do just about anything. My nephew is studying a cand.merc. program in Copenhagen, and he had a tough time registering for CPR when he first arrived - it took him 2 months before he was able to get CPR, Yellow Card and NemID sorted.
Things are much less complicated on my end, because the firm would take care of everything without me having to lift a finger.
Lastly, while the interviews themselves are chill, low-stress affairs, the process may last longer compared to entry level roles.
Bit off topic but you can sign up for gyms w/o a CPR. Currently studying in Denmark rn.
Great post. Having been on both sides of the table for MD interviews a few other things worth noting:
1. References: your references will shift towards clients rather than colleagues. Starting at the VP+ level, my interviewers wanted client contacts from past deals and not just (former) colleagues.
2. Biz Dev/Origination: The more senior you are, the less it is about technicals/execution (to a point) and more about ability to bring in business. They also want to (discretely) probe your business development plans and what deals you have in your pipeline (and what, if anything, you can bring over from your prior firm). This one is tricky. If you are moving "down-market" it's a common theme that a larger bank is not as interested in some of the deals a senior banker is originating and will happily let them go. Anything sizable/high quality needs to be negotiated.
3. Lead vs. Follow: One more thing. Your dealsheet will speak to your abilities before you even step into the room. If your deals are all equity co-manager positions or deals won because your bank is a B/S lead lender, you'll likely be a "warm body" to chase deals. If you are more M&A focused (both buy and sell side - lead left advisor) as well as have IPO/lead left bookrunner on ECM/DCM deals, you'll automatically be assumed to be a BSD originator/closer.
For me, interviews have changed but I wouldn't say they're easier. I don't get grilled with technical questions, but I do get asked a lot about my process (idea generation, diligence, conviction, etc.) and communication style. Also, conversation are often higher level and revolve around views on an industry and where it's going, etc. Some firms like Citadel do have a portfolio construction exercise, which is kind of all encompassing because they can then ask any number of questions around why certain names, sizing, thesis, industry views, etc.
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