Lateral Interview Guide for Analysts (Elite Boutique/BBs)
WSO,
Would really appreciate some advice. I have a lateral interview coming up with one of the elite boutiques this coming week. I am a first year analyst looking to lateral from my BB so I really want to nail this one. I would really appreciate some advice.
- What type of questions should one expect for lateral; behavioral or technical? Would the WSO technical or behavioral guide/ M&I guide be suffice for me to prepare for that?
- what type of details should I be prepared to know regarding the announced/pending deals on my resume? Do interviewers generally get very technical?
If you guys have any other suggestions, would really appreciate it! WSO has been very kind to me over the past 4 years with suggestions/advice. Just to give a background, I am at a BB in FIG coverage and trying to lateral into a generalist position.
Thanks a lot guys!!
It will be a mixture of both - you'll get basic technicals and possibly harder ones since you're expected to already know your statements inside out.
You'll also get fit questions and the "why are you lateraling" question type.
Hope that helps.
Why do you want to switch?
First round will likely be highly technical, with one or two more senior members performing the fit portion. Second round will probably be much more fit-focused.
Lateral Interview Guides/Tips? (Originally Posted: 03/25/2014)
Hey all, any vault or WSO guides for IB lateral recruiting? Am interested because I imagine interviews are more deal oriented at this point, but have no clue about the kinds of things they could ask. Thanks.
Did you go through PE recruiting? If so, it's pretty similar, except you won't usually have a timed modeling test; maybe a case study (write a teaser for a company or build a model in a few days) instead.
Also, the timeline will be similar to that of campus recruiting - first round or two, then super day.
Any good threads on laterling/ 1st year interviews? (Originally Posted: 12/25/2014)
Was hoping someone could chime in with some good threads that have went around here regarding advice for lateraling and preparation tips for interviews
Also interested in this
I may have some insight into this. PM me if interested
interested here as well!
Lateral Interview Questions? (Originally Posted: 12/21/2006)
What do they normally ask you in a lateral interview (from one bank to another)? Any help would be really appreciated. Thanks.
why do you want to move?
Good question!
perhaps. any insight?
Test will your industry expertise, financial acumen, rationale for moving, knowledge about their firm and group, recent deals in the space, etc. They are very tough interviews because the standard is much higher.
Totally agree. Everyone says it's a cakewalk on there, haven't had that experience
thanks man. how much would they expect first year transfers to know?
lateral interviewing? (Originally Posted: 02/04/2007)
Does anyone know about the lateral interviewing process? How does it differ from the interview process out of school? Are the questions less technical or more technical? Is it more of a fit interview? Do you still have to go through the whole dog and poney show? What are the percent yields from interviews? Thanks.
Questions are much more technical at times, especially if you are making a big jump (i.e. MM to BB). I would say the biggest difference is that instead of knowing what the valuation techniques are and the mechanics of them, people want to know if you understand them in the bigger sense, so they will be asking about how certain things affect valuation, changes in drivers, etc.
Every interview is a dog and pony show, so yes. Success rate depends on who and how many you're going up against, but if you come in well prepared and don't give them a reason to dislike you, that's all you can really do.
lateral transfer interviews (Originally Posted: 04/03/2007)
Just wanted to see if anybody on this board has gone through the process of a lateral transfer. I'm currently an analyst at a BB and will be interviewing to make an internal move. Anybody who has any perspective on lateral transfers (both internal and external) interviews would be really helpful. PM and I can provide more detail on my situation. Thanks in advance.
bump
Two friends tried moving from MM banks (think Duff & Phelps/Stifel/Piper Jaffray) to Guggenheim and Lazard. They both were asked to go through a modeling test. It could be because smaller shops are anal about it or maybe they wanted to vet candidates coming from lesser prestigious banks. I think since you're doing an internal transfer and they need somebody immediately, your interview process might not be that crazy. Let us know how it goes.
what are lateral analyst interviews like (Originally Posted: 03/26/2013)
.
You'll get the basic technicals and walk me through blah blah blah - they'll also ask you the classic how something affects each statement. It'll be similar to your entry level interviews, but a little more obscure. Of course, this varies depending on firm, but you'll also get a lot more fit since they assume you know how to model already.
Also, expect to talk about any major deals you've done, that'll almost always come up.
2nd year analyst lateral transfer interview tomorrow - any tips? (Originally Posted: 07/22/2008)
Hello,
I have been an analyst with a lower BB for the past year. I like banking and I would like to stay in it, but despise my group. I have an interview tomorrow with a less known Asian bank and I would lobe to work for them.
What type of questions should I expect for an IB 2nd year analyst? IS it going to be as technical as PE, or more fit? ANy help will be appreciated. Also, has anyone interviewed with the Asian banks (Nomura, Mitsubishi UFJ etc.) and know what their interviews are like?
Needless to say, thank you for your help
Almost anything in finance is going to have a large "fit" component; since you're a 2nd year analyst transferring over, expectations will be higher in terms of what you know, your technical expertise and your deal experience.
FYI, a lot of PE interviews are actually not that technical at all - it all depends on the firm (some smaller ones are very fit-intensive, some of the bigger ones focus more on technicals and modeling).
My advice: focus on having a really good story for why you want to transfer to that other bank (jazzing up the usual cookie-cutter answers for why you'd want to work at a smaller firm is a good place to start) and know your deal experience very well.
I never interviewed with those Asian banks so not sure of how their interviews differ (if at all) - perhaps someone else knows?
Thanks dosk,
I am pretty confident in my deals an my technical knowledge. However, I would still like to know what type of questions I should expect as a lateral and how technical the interview would be. Any help with some more specific technical guidance would be great
if you have the time try to look at " Heard On The Street"
funny, i am interviewing for one of those banks as well this week SS. I despise my group as well, same situation.
what do you guys mean when you despise your group? Do you just hate the VP/D/MD or do you have everyone, including other analysts?
Lateral Analyst Interview (Originally Posted: 09/25/2010)
I'm currently an analyst at a small PE, but am transitioning to banking in order to get some more deal experience. I have a first round interview at a BB this week and am wondering how technical my interview may be.
I know first rounders are normally fit, with some basic technical questions, but given the fact that I would be a lateral hire, will I be expected to do a case study/lbo modeling during my first round or will the format be standard?
Thanks in advance for your help
I think it depends on the bank, but more than likely they'll ask you some questions pertaining to your resume which given your PE background they'll likely ask you some surface LBO questions (how do you make money on an LBO et). Probably no case study shit because that's not really a big part of banking.
I would also be interested in hearing in this as I also am lateraling from consulting, however my interview is at a top boutique. not to thread hijack, so general analyst lateral interview advice is appreciated!
As stupid as this sounds, bankers don't generally deviate from the norm when interviewing analysts candidates, even if you're a lateral hire. Don't expect to be asked questions that are very different from the ones asked of undergraduates. The key difference will be in the expectations. You'll be expected to communicate better, have a solid understanding of the work, and of course have all the intellectual/personal traits they are looking for. In short, don't waste too much time prepping for a potential elaborate interview process with modeling and extensive case studies. Spend a bit of time brushing up on the technicals and then carry on.
are you doing 1st year lateraling or 2nd year? I am guessing 2nd year..but wanna make sure you don't get downgraded and give the wrong advice
i graduated in 2009 so it's been a bit over a year. i would almost definitely get dinged a year but am fine with that. in consulting i have experience building financial models, but not nearly as complex as an ibd analyst would. i've heard various responses ranging from they will ask you crazy div. recap / lbo modeling with 7 different tranches to basic vault guide stuff
To be honest I'm not sure, but assuming they are going to invest the time to train me, I'd guess it'd be for a 1st year position. If thats not the case, how different would the questions be between first and second year analyst questions?
1st year analyst = basic understanding of technicals, no on site modeling
2nd year - you better know your shit....
Aut dolores quae voluptatem tenetur molestiae. Et mollitia animi dolorum accusamus rerum. Explicabo molestiae dolorem enim ducimus. Natus repudiandae eligendi eos qui.
Alias laboriosam labore provident dolores. Voluptatibus numquam aut quae. Officia molestias tempore blanditiis dolor incidunt repellendus. Et omnis pariatur est voluptas est vitae ducimus vel.
Aut qui sed omnis quos. Deserunt dicta cum nihil nihil voluptatem. Pariatur voluptas libero error officiis veritatis iure rem. Laborum esse velit quisquam delectus quam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Quisquam eveniet possimus est eaque maxime voluptatem. Praesentium sapiente omnis fuga accusamus et laborum. Voluptatem a nemo temporibus perspiciatis et ut assumenda. Dignissimos consequuntur ipsa atque. Maiores asperiores optio atque sit. Iste voluptatibus qui sed error.
Optio est enim officia ducimus voluptates voluptatem. Fuga ipsam dicta dolor quia placeat illum. Voluptatem temporibus exercitationem dolorem. Delectus voluptatibus in porro repellat esse.
Pariatur laboriosam et dolore minima. Totam qui doloribus beatae ut nobis voluptas laborum. Quod rerum consectetur odit dolores. Aut doloribus molestiae fugit fuga omnis repellendus quia.