Preparing for Full Time Capital Markets/ Debt & Structured Finance Position Interviews

Hi all, I am expected to graduate this coming Spring and have been networking with people at a few large CRE firms (JLL/C&W/CBRE). After having these conversations, I've decided I'd like to work on a Debt and Structured Finance/ Capital Markets team since the work aligns well with my skills and interests. I'm curious to hear if anyone has any experience interviewing for Analyst positions at these companies, how you prepared, any courses/books, etc. that you found to be valuable, or any general advice. I want to go into the recruitment process as prepared as possible and appreciate any advice the WSO community can offer, thank you!

4 Comments
 

Based on the most helpful WSO content, here are some key points and resources to help you prepare for a Debt & Structured Finance Analyst position interview:

  1. Interview Preparation:

    • Technical Knowledge: Be prepared to answer technical questions related to debt structures, financial modeling, and valuation. Understanding the differences between various types of debt (senior, junior, mezzanine) and their implications is crucial.
    • Documentation Terms: Familiarize yourself with basic loan documentation terms such as acceleration, enforcement, and intercreditor arrangements.
    • Value Break: Understand the concept of value break and how it applies to different debt structures.
  2. Recommended Courses and Certifications:

    • Adventis Bootcamp: This course is highly recommended for its focus on financial modeling and valuation, which are essential skills for the role.
    • CFI FMVA Course: The Corporate Finance Institute's Financial Modeling & Valuation Analyst (FMVA) certification is another valuable resource that demonstrates your commitment and capability in financial analysis.
  3. Books and Reading Material:

    • Moyer's Book: Reading books on restructuring and debt finance, such as Moyer's book, can provide a solid foundation and deeper understanding of the field.
    • Macro Economic Understanding: Books on macroeconomics and investing can help you contextualize the companies and deals you will be working on.
  4. General Advice:

    • Networking: Continue networking with professionals in the industry to gain insights and advice. This can also help you understand the culture and expectations of the firms you are targeting.
    • Typing Skills: Surprisingly, being able to type quickly and accurately is an important skill for an analyst, as much of the early role involves taking notes and drafting documents.
    • Mental and Physical Preparation: The role can be demanding, so being mentally and physically prepared is important to handle the workload effectively.

By focusing on these areas, you can go into the recruitment process well-prepared and confident. Good luck with your interviews!

Sources: Interviewing for a SA or Analyst position? Here's what I'd want to hear as a VP., https://www.wallstreetoasis.com/forum/investment-banking/how-to-prepare-for-restructuring-technical-questions?customgpt=1, Q&A: Credit Research Associate interview, Just got an IB offer, how do I prepare?, Q&A: Former MBB Consultant

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Not sure what your background skills and knowledge base are but I would recommend watching Spencer Burton's videos and master underwriting/modeling. Also, I would recommend reading the CREFC CMBS & CLO primers as well as get an Argus certificate. 

Then, if you really want to stick out, I would go on Crexi and download an OM for an interesting property for sale and try to build a debt package for it. I would also do an Argus run and proforma for the deal on the equity side. If you bring that to an interview, in my opinion, there would be little reason not to hire you since you've demonstrated that you could do what your primary job function will be, to build packages. 

 

Ignore title, would you mind sharing the link of the Spencer Burton's videos you're suggesting to watch?

 

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