Critique My Why IB Interview Answer

Interviewer: "Why IB?"

Outline of what I say: At my internship at ABC boutique, I developed an interested in learning about how transactions are structured and why they occur. Talking with the MD of ABC boutique bank and discussing how he sourced deals/deals he worked on and formed relations w/ clients made me realize that I want to be an MD like him in the future. After talking with over 50 bankers, I am convinced IB is indeed the path for me since it provides an unparalleled environment to learn about how to help clients structure transactions while eventually giving me the chance to source deals and help clients structure transactions.

Comments (12)

Aug 11, 2020 - 4:17am

You just mention "structure transactions" as your primary reason, which is very vague and doesn't indicate your knowledge about the role. Get specific and talk about why it actually interests you. You can sum up that entire paragraph by saying you enjoy a deal environment, but that's not enough. So think about why it actually interests you.

Aug 11, 2020 - 7:36am

No jokes I would definitely laugh if I heard this

Nonetheless it sounds different to what most people would say, which makes you quite unique so thats not bad

I would avoid mentioning you want to be MD, just say you see yourself in the long-term

Aug 12, 2020 - 4:14am

The part of "I have talked with an MD... i want to be an MD in the future"...

Saying it that early in your career is at least funny, people overstimate one's capabilities (first you need to get the internship, rock it and get the offer) and makes you look naive (as it is so hard to make it that far)

Being that energetic and starting from the roof makes me have fun as I had that mindset when I joined, which differs from my current one

  • Intern in HF - Other
Aug 11, 2020 - 8:14am

I am just an SA but to me this sounds a little awkward. What is it that you like so much about structuring transactions.

  • Intern in IB - Gen
Aug 11, 2020 - 8:35am

extremely cookie cutter. nobody is going to make note of that among every other candidate with a similar background/sophomore IB internship

  • Associate 2 in IB-M&A
Aug 11, 2020 - 8:44am

It took you over 50 bankers to realize you want to go into banking?

I would either lower that or don't give a number at all. It's assumed you've been networking anyway.

  • Intern in IB - Gen
Aug 11, 2020 - 9:28am

Bro just say you're fucking excited about the working environment because it stimulates you more than any other job out there. You like the fact that you're in and out of transactions which allows you to constantly learn new things and be kept on your toes. Do you have PE internship experience? If so, great. Mention that you disliked PE because you saw that the majority of work that associates were doing was monitoring portfolio companies which you found to be very boring given the investment horizon in PE. This builds your point to why you like the IB environment.

  • Intern in IB - Gen
Aug 11, 2020 - 9:30am

Also, no one gives a shit about your interests in structured transactions. That sounds really lame man. They want to hire a kid that has potential to put in the ruthless hours and wants to learn. No one goes home at night and says "wow this structured transaction tickled my balls hehehe".

Just my 2 cents mate.

Aug 11, 2020 - 2:32pm

why IB?

i have a detail oriented personality, and a strong work ethic...i can grind thru work for long hours for extended periods, while juggling multiple tasks...i'm also interested in the capital markets and the transaction oriented nature of investment banking...getting to know a company and its industry, and maximizing the value of that company thru capital markets transactions is interesting to me. I'm also interested in cultivating relationships down the road and being able to monetize those relationships to do future business.

So, all in all, Investment Banking seems to be the right career for me...and after talking with a variety of people who work in IB, i'm confident that this is the right path for my career.

If you have particular experience that can offer contrast to the nuance between IB and other careers, feel free to add a sentence highlighting that and how so.

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