So when applying to the bank, the why firm question is always quite tricky to be specific in cover letters and interviews. I've heard a few people being asked "tell me about a recent deal we worked on", what are the logistics when preparing for this type of interview question?
So how does one go about finding a recent deal on websites like the Financial Times.
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I don't have access to FT but have access to CapIQ through my school, so I've been going to the "Screening" tool and then filtering out for M&A (or you could look at IPO too, etc)/whatever transaction type you'd like, and then filter for your bank as the financial advisor, and then perhaps put a date range.. That helped me find some cool deals to talk about when I recruited. I also heard that it's best to talk about a deal from a different group than the one your interviewer is in bc sometimes they can grill you for no reason. Hope that's helpful!
Along with the Levi Fin online course, I'll have this available ala cart on the website by firm (for every bank/credit fund more or less) - in 2 versions: basic and detailed--depending on your need - if you just want a JPM deal list to get the lay of the land, or a detailed deep dive on a few key JPM deals. stay tuned.
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You’re not meant to be an expert or try to be one - we all assume all you have at your discretion is YouTube, the news, 8Ks if it is a public co., and WSJ/similar publications. Here’s a summary of what’s generally disseminated and how to stitch it together:
1) Find a deal announced within the last year in the relevant industry (most shops don’t require it to be a firm specific deal, but have one of those as a backup tbh).
Order to speak on it in an interview:
Deal Background (players, price, consideration) — > Deal Rationale (Strategy, and the “why” this is ultimately a good investment) —> Industry Impact (Comparing the multiples of this deal to industry averages and use your consulting-esque soft market knowledge to contextualize how the playing field changes)
Don’t go into a bunch of hardo merger math or try to opine on the specific synergies that will be achieved or whatever, the point is to test if you “get it”. You should be able to talk conversationally about it as if you were talking about it’s merits over coffee with your friends. One of my super day interviews with a MD I literally just talked about a deal and the industry outlook for the entire 20 minutes - was great to pick his brain. Hope this helps and happy to answer follow up questions.
Hey, thanks so much but wow this is very very comprehensive, just curious why it's necessary for EBs. A lot of M&A reports I've read followed your structure exactly tbh.
Btw, I'm a penultimate applying for summers and you clearly seem like you've prepared during your recruiting very well. If you don't mind, could you dm to run through some things quickly?
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