Hey, got an investment banking interview planned at a lower BB, the position would be in their FIG-division.
What do I need to know? How different is it from other groups?
Are their certain specific things they usually ask in terms of technical questions?
What are FIG's subdivisions?
Is there something that I really need to know?
Shoot!
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Nutrition Facts Common fig Amount Per 1 cup (261 g) Calories 279 % Daily Value* Total Fat 0.3 g 0% Saturated fat 0.1 g 0% Polyunsaturated fat 0.1 g
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Santroso,
FIG is very different from other groups in that they are always busy. Deal flow does not follow the same cycles as TMT. In terms of technical questions, you need to be prepared to answer how valuing banks/insurance differs from other corps. (i.e. differences that cash fills multiple functions and the confusion it can cause - know this for sure) Breakingintowallst.com has a specific course on bank modelling (not sure about other courses) - I would suggest you watch that. (The WSO video library also has "What makes FIG different") Try to learn as much about the industry regulation as possible. This is a tough group to enter due to the nuances. But once you're in you can be there for a long time.
Good luck.
MS'ed for the term "lower BB" as if that would make a difference in your interview preparation given that you don't know things about FIG that you could Google. Why don't you tell us what you know right now, what work you have done to get there, and give us some more specific questions?
Steps: 1) Type this into Google - 'aswath damodaran valuing financial service firms' 2) Click the first link. 3) Read and understand up to page 15 at the very least. 4) If you have the time, read that entire document.
That'll pretty much set you up in gaining an idea of why FIG is different to other coverage groups. From there, take some time to learn about the different verticals (Asset Management, speciality finance, insurance, fintech etc.) And there's an incredible thread on WSO about FIG. I think it's titled 'Overview to FIG'. Read that too. You should be pretty much set after that.
great info! thanks!
Other tips/must reads/classic questions?
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