FIG Interview - Lateral hire position

So-

I interviewed at a BB for a lateral hire position, and now have a superday with the Fig group (only three made it).

I don't have prior fig ibd experience, but my resume is fig related and they want an analyst w. FIG experience- nevertheless, I made it this far.

Any suggestions on what I should prep on?

 

okay- didnt want to post this initially to let ppl know what bank it is, but it's a first round and the guy emailed me yest, for an interview tomorrow. So, I know DCF, etc, and can build accretion/dilution/lbo, etc, but don't know shi* about the FIG IB industry.

 

If you aren't working in finance currently and they invited you in for an interview, then I think it's safe to assume they can't ask you anything too technical about FIG modeling. They should know from your resume that you don't have FIG experience.

It would probably be wise to spend some time thinking through how various financial services companies are valued and why (tangible book value, book value, AUM, EBITDA, etc.).

 

As a preface, take what I say with a grain of salt since I'm not a FI analyst -- but I've done some transactions in FI and have friends in FIG at other banks.

It will often depend on your personal background as well as the particular interviewer, but 1st round FIG is typically similar to standard ib interviews with a few differences. It may be mostly fit with basic technicals, but I would make sure you have a firm grasp on the area of FI that bank tends to specialize in and the key differences of how those businesses are valued. For example, if you are interviewing at a firm that has done several commercial banking deals recently you need to focus more on understanding how the valuation of a bank is different than a "typical" company. Insurance is also going to be different, but there may be a separate insurance group at that particular bank.

Investment banks, wealth management, and FI technology will be more similar to the standard technical approach.

 

Should be fit, but when I interviewed they asked typical methods used (DCF mainly), why, and my thoughts on the difficulty of giving a fair valuation to hedge funds in comparison to traditional asset managers, for example.

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