Just wanted to see how some of you guys handled phone interviews. Did you do any mock interviews on the phone before with bankers? Also, if you sense that the interview gets too techinical, do you have materials laid out in front of you?
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Had a few, didn't do any mock interviews but was comfortable with my resume and general technical interview questions. I did not have anything laid out, I think that would have confused me, but I suppose that is personal preference. Definitely don't go into it cold, be prepared to answer the questions that you know you will get (why IB, why us, basic corporate finance, etc.) but I think having a model or something similar in front of you would only make you sound unnatural.
Totally makes sense. Thanks man, greatly appreciated!
I've had phone interviews with a handful of BBs and EBs due to FT recruiting when it was a little shadier and I had already returned to campus. Echo the previous comment, every time I had notes in front of me, no matter how simplified they were, they never helped for 2 reasons: it's really hard to keep up with the interview and flip thru notes to look for the relevant info and it also makes you sound a lot more unnatural.
Something I'd also be wary of is that over the phone, a lot of the small gestures and natural movements that the interviewer might see in-person is eliminated. You don't want anything making you seem even more rehearsed/unnatural.
I think the biggest piece of advice I received going into phone interviews is to make sure you come across as excited, enthusiastic, and engaged. Since they can't see you this is going to have to be conveyed through your voice. Apparently there are some psychological triggers that can help you with this. I was told that standing, smiling, and stretching before set off triggers in your brain that help you sound the part.
Take it for what you want, but I figured it couldn't hurt to give them a shot.
Keep notes on screen or in front of you, smile when you speak and act as though you're face-to-face (it will come across over the phone), wear something comfortable. Not a big fan of them but they're ok.
I do keep notes out for fit questions like 'a time you took a risk', the title of my notes would trigger the story in my head (I wouldve already memorized it), like to have several examples that are 'perfect' for each fit question if that makes sense.
Yes, mocked over the phone. Had some bad ones early on eventually becoming very good ones.
Don't use the interview guides strictly. Here are the key points:
1) Be CONCISE with your answers, and get to the interesting part as quickly as possible. For example my "tell me about yourself" that got me my first BB superday invite only had about 20 seconds of exposition before I got into the "spark" part where I talked about the event that got me interested in finance.
2) Adjust your cadence. You will need to speak slightly slower, enunciate well, and give a bit more time at the end of your sentences. The "two second rule" is a good way to make sure you don't interrupt: listen carefully, wait about 1.5-2 seconds after they're done speaking, THEN answer or ask your next question.
3) Paper notes are generally a bad idea. If you look down it WILL interrupt the conversational flow. Plus they can hear you shuffle them.
4) This won't work for everyone, but for me it really helps to pace while I'm on the phone.
5) Equipment matters. You will have MUCH better results using headphones that have a microphone clip-on or module. For example, Sony sells a pretty decent pair of earbuds (about $40) that have a microphone built into the cord and will give you much better voice quality than most phones. Ideally however, you will arrange the logistics so that you can talk on a land line.
I'm generally better with in-person interviews because you can show more enthusiasm via eye-contact, mirroring etc. Obviously, you can't do that whilst on the phone, so be sure to SMILE, you'll looking like an idiot but be sure to do it, it will make you seem happier/ enthusiastic than you actually are.
In-person vs phone are two different beasts, be sure to practice and don't just go balls in pretending like it's a face-to-face interview.
One thing that really changed the phone interview game for me was just one simple trick. Smile while you are talking on the phone. They will lighten up and the interview will start to become more "relaxed" in my experience.
If yours haven't yet -
1) Make sure you have a good, quiet location. Tell your roommates to shut up, book a private study in the library or something. 2) Dress up. It doesn't have to be all the way but dressing properly will help make sure your brain knows to take this seriously. 3) Walk around during the interview if this helps. You need to make it more like a conversation, which can be tough on the phone. (I hate talking on the phone).
I have been asked: What happens when Depreciation increases by $10? How do you value a company? (Comps/Trans/DCF/LBO), What is an LBO? but also I have had plenty of fit questions -- Tell me about a time you worked with a team and what did you learn? Walk me through your resume. Over the summer you worked at a small boutique -- tell me what you did there? OK - you put together comps/trans/DCF etc. how did you come up with Comps? Transactions? What margins for DCF? Growth rates? and of course DO YOU HAVE ANY QUESTIONS FOR US?
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