BMO Phone Interview: types of questions asked? - What kind of questions should I expect?

goldenLoo's picture
Rank: Monkey | 49

Hi

I applied for the "BMO Student Internship Program - financial modelling & Analysis Stream" in Canada for summer, and I have a 20 minutes phone interview this Thursday. I am a first year economics major at target school. What kind of questions should I expect.

How much will be fit, behavior, and technical questions.
How technical do the questions get? How much would they ask me on dcf, lbo, comp models?

Thanks for the help!

Comments (45)

Jan 10, 2013

First off, don't double/triple post. Seriously. Not fucking cool.

You're a first year. You haven't learned anything useful yet. Most questions will be fit.

Jan 10, 2013

sorry :P

Jan 10, 2013

How much do you know dcf, lbo, and comp models?

Jan 10, 2013

I just completed the Wallstreet prep course. I do not have much knowledge about it however, I just looked at the slides and completed the exam

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Jan 10, 2013

Damn! They answered fast! The application has only been available since the 7th! When did you apply exactly?

Jan 10, 2013

I applied on the 7th

Jan 10, 2013

this isnt the s&t position. Its different, its for the financial modelling and analysis analyst position for the internship program they have this summer

Jan 10, 2013

are you in Canada?

Jan 10, 2013

yes

Jan 10, 2013

expect a mini case study type of question. for example given this type of company how would you structure a deal. answer would be very high level no more than 5 minutes.

Jan 10, 2013

the interview was 28 minutes long, just basic question; why investment banking, why bmo, then some behaviour questions. No technical questions, just asked me how good I am with bloomberg and excel

Jan 10, 2013

Did you make it to the 2nd round?

Jan 10, 2013

Did you make it to the 2nd round?

Jan 10, 2013

they told me two weeks after jan 13. probably find out this week if i got to the next round

Jan 10, 2013

2nd round details for BMO went out last night.

Jan 10, 2013

how do you know? Were u emailed or u checked ur application on bmo?

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Jan 10, 2013

It would be very rare based on your experience and the fact that it is an initial 20 minute interview for them to spend much time if any on technical questions. I would be shocked if they asked anything technical actually. Expect mostly fit questions and a free flowing discussion about your background, interests, and future goals.

Jan 10, 2013

I shouldnt expect brain teasers right?

Jan 10, 2013

It'll most likely be an alum that will ask for your story and decide to recommend you up. Work on your story and reasons for pursuing this internship / banking / etc.

-wow1wow

Jan 10, 2013

its actually a "Recruitment Specialist" who will be interviewing me.

Jan 10, 2013

Expect the same deal though, I'm surprised it's not an Alum. I went through several phone interviews before a Superday there, and most of the early ones were with Alums. Given your experience, just make sure you know why you want to go into finance / banking / why BMO / Current events.

-wow1wow

Jan 10, 2013

what exactly about current events? what type of current events :S

Jan 10, 2013

-wow1wow

Jan 10, 2013

thanks!

Jan 10, 2013

I just applied to this program today as well!
When did you apply and how did they contact you about the interview?

Jan 10, 2013

i applied jan 7th and was contacted jan 8 in around 11am

Jan 10, 2013

Did they email or call you?

Jan 10, 2013

email

Jan 10, 2013

Thanks!

Jan 10, 2013

Interviewed for the same thing last year - the interviewer was actually from an outsourced HR company in Toronto
she only asked a few fit questions (and I'm guessing she typed out the answers to send them to BMO), and asked me to rate my excel/word/powerpoint skills on a scale of 1-10

Jan 10, 2013

What did you say for the rating your skills with excel/word/powerpoint. And does they ask you to elaborate why u think you rate that.

Also what did she ask you for 20 minutes :S??

How many rounds were there after the phone interview? You get the job?

Jan 10, 2013

Sure, I just interviewed with them today. It was in person -- we had two MDs running the interviews. One was the head of FIG and the other was with the Media and Business Services Group (weird mix). From my understanding the FIG guy was all technicals. He was asking a question about how dividends run through the statements as well as about terminal values and the point of a DCF when 80% of the final value is attributable to the terminal value. My guy was a mix between fit and technicals. For fit: why banking, are you sure you want to live in NY or Chicago (I go to a southern school), etc. Know your resume. For technicals: valuation methods being able to list which one will give you a higher valuation and why. He asked me how to calculate free cash flow. Everything was straight down the middle, nothing out of the ordinary. Hope this helps.

fdba Emory Blaine and BBA or otherwise trying to find the perfect pseudonym.

Jan 10, 2013

Nice, Thanks so much man! What was your reasoning for the why DCF question? Also, did you interview at their offices or on campus?

Jan 10, 2013

On campus -- that was not my interviewer, h/w, I think it is good point (the DCF comment).

Note: I am still a student so verify this first

Regarding the DCF question: One way to look at it would be that a DCF -- assuming you use a multiple (instead of perpetuity) for the terminal value -- assumes a sale in ~5 years. As such the cash flows before you sell have value and should be included in the valuation. Also a DCF is just another way to look at the company;, maybe it will give you a more favorable valuation than another method.

fdba Emory Blaine and BBA or otherwise trying to find the perfect pseudonym.

Jan 10, 2013

What is the salary + typical bonus at BMO? I hear it's above the street, is this correct?

Jan 10, 2013

.

Jan 10, 2013

Just had the phone interview and it was 100% fit. Asked questions about my resume, role on deals at internship, strengths that would make me successful in IB, etc etc.

Wanted to let anyone know who might be having a first round coming up.

Jan 10, 2013
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