Please help with "interview". Need advice!
Hello Everyone,
This is my first post and I kindly ask for your help.
So basically I have been struggling to land a summer internship. I'm a Senior at a SUNY Binghamton with a decent gpa. I've applied to basically everything and have networked with a bunch of people.
Anyway, I have gotten some help from my neighbor( I coach his kids bball team). He has a friend who has been in the business for around 20 years and he passed on my resume to him. He currently works at a MM. My neighbor told me that he is "helping me out". Well the guy reached out to me and wants to schedule a phone call, he said he is willing to talk to me about the finance industry and answer any questions I may have. I know he's obviously not going to email me saying "hey kid, I got a job for you!" but at the same time I'm not too hopeful about his email. My neighbor keeps insinuating that I will receive an offer....even though we haven't even spoken yet.
Why am I so doubtful? Well, non target, decent gpa, and only 2 PWM internships, which on here seem shit.
So after struggling to read that terrible post, what is your guys opinions?
How should I approach this conversation? What sort of questions should I ask him on the phone interview? Should I ask to meet for coffee/lunch at the end?
Much appreciated
Hey bud, I'm a 3.8gpa junior non-target in tristate area. Business school is well known, but I have to network/cold e-mail for any hopes of an internship/job. I have had a few interviews. 1 at an IB and here is what I learned: (This is not my advice and collected from successful people on WSO)
Interview Questions To Answer: 1. Why do you want to work in this industry? (3 reasons) 2. Why do you want to work for this company? (3 reasons) 3. Why do you want to work for this department? (3 reasons) 4. Why are you the perfect candidate for this role? (5 reasons, taken directly from the job description with examples to back each of them up 5. Know a stock pitch COLD. They want to see you pitch something and make a logical argument as to why you believe something isn't already in the share price. 6. Know how to run your interviewer threw all 3 financial statements and a DCF. Knowing the following is preferable but not mandatory: merger models, lbo models, comparables method, and multiples method (i.e. EV/revenue or EV/EBITDA and which to choose in different scenarios).
If you want to have a good interview experience, know everything above like the back of you hand. This means going to a career center and grinding through mock interviews. Practice with your dog, cat, mother, reflection in the mirror until you can answer without hesitating or saying "uhm, you know, things, stuff"
This is advice for almost every FO role, but you better know exactly who you're talking to, what they do, and what internship you are applying for because you didn't list any of that on your post.
seriously thank you so much for taking your time and thoroughly explaining your answer, really appreciate it! Also it was only mentioned as an "intern for a trading desk"(not sure which type of desk)just know it's MM. If you have any other input please let me know. If not, best of luck to you with finding an internship!
You're welcome. Intern at Trading is a good start. Now you want to research this firm (start with their website) and your interviewer (linkedin, but not from your account so he can't see you looked him up). Here is what you look for: What is his experience/story. You also want to see what his current position is. You want to know exactly what kind of trading desk this is (equities, commodities, fixed income). This is extremely important to know because he might ask you, "What does fixed income mean to you?" or " what is your outlook on the market?" or "what stock should I short, hold, or buy (a trader's version of fuck, kill, marry). If you can't answer these questions right now you have a lot of work to do. To be brutally honest, non-targets don't get selected over ivy kids for a reason. You have to give him a reason why you're better than the ivy kid in the waiting room. Finally, do your research follow the steps above and be confident. This may be your only shot at breaking into trading, keep that in mind while your prepping.
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