"What other banks are you interviewing with?" Best answers
Hey guys, just had a question on how to answer when they say "What other banks are you interviewing with?" After saying that I'm interviewing with XX other banks, should I do my plug for why THEIR bank is my #1 choice? How long should I go about talking about why they're #1 or should I just wait until they ask me that?
Thanks!
no, you don't come off as desperate.
just make sure you the banks you mention are similar in profile to the one you're interviewing at.
^ This. And don't lie. Everybody talks and you don't want to get blown up.
No...certainly do not go on and on about how they are your first choice...even if they are. I loved getting this question during interviews because it gives you a chance to make them a little jealous. In this situation, think about courting a woman: if she knows you are wanted by others and have other opportunities, you become more attractive to her.
You want to approach this question by being honest:
1) If you are interviewing with a BB for IBD, you want to mention some of their competitors you are interviewing with and maybe a strong MM as well
2) if you are interviewing with a MM or boutique, this is a chance to mention you have interviewed with BB's but are looking most at MM firms (and then mention some other MM interviews you have had)
3) If you are interviewing with IBD, DO NOT mention that you are interviewing with some consulting firms or commercial banks...things that aren't in their area. Even if you are, you want to appear only focused on IB
3a) Also, if you are interviewing for an O&G group in Houston....mention you are focusing on O&G groups in Houston and want to be there. You want them to believe their industry, their location, and their caliber i what you are looking for while showing you are wanted by other banks
Great points +1 SB
Just slap the interviewer in the face with your dick. I personally guarantee that person will never ask you that question again.
^ lol!!
These might help as well:
http://www.wallstreetoasis.com/forums/the-what-other-banks-are-you-appl… http://www.wallstreetoasis.com/forums/answering-the-what-other-banks-qu… http://www.wallstreetoasis.com/forums/hey-former-interviewers-when-you-…
[quote=CompBanker]These might help as well:
http://www.wallstreetoasis.com/forums/the-what-other-banks-are-you-appl… http://www.wallstreetoasis.com/forums/answering-the-what-other-banks-qu… http://www.wallstreetoasis.com/forums/hey-former-interviewers-when-you-…]
Haha dat search function
Solid advice guys.
Would an answer like this be adequate at say, a UBS interview: "I'm interviewing with a number of other firms, but I'm mainly focusing on bulge brackets. Some of the other banks include Deutsche Bank and Bank of America. However, I cannot imagine declining an offer from UBS if given one."
I'm also interviewing with "higher ranked" banks including GS and JPM. Do I also name drop these or would that lead the interviewer to believe that I am indeed more interested in the bigger names?
As for the last sentence, would I actually need to provide concrete reasons as to why "I love you guys" or leave it at that?
Absolutely say "I cannot imagine declining an offer from UBS if given one" if you are looking for an auto ding.
I love that there are myriad posts on this board from people who are like "I don't understand why I didn't get an offer, I did everything right." Except they say something like the above... Why would you think that saying "I can't imagine declining an offer from your firm." Would you go up to a girl and say "I am trying to have sex with some of your more attractive friends but I cannot imagine declining a blow job from you if offered."
You are delusional... you need to think before you interview... Don't say this...
Along these same lines, any thoughts on the best response to "If we made you an offer right now, would you accept it?"
if you do it the right way, there's nothing wrong with telling your interviewer that their bank is your top choice without being prompted (if it actually is).
and, i wouldn't say interviewing and "courting a woman" are strictly analogous. if you're being interviewed, chances are you've already managed to get her from the frat house to your dorm room, so to speak. now, she's sitting akwardly on the edge of your futon. if you want to seal the deal, you need to a make her feel sexy; and b convince her that, if she agrees to sleep with you, you'll accept graciously and refrain from telling all of your buddies the second you pull out. if you start playing hardball at this point, she'll wonder why you even invited her back in the first place. in other words, it's fine to play your cards close to your chest, but you need to communicate to the interviewer that if you're extended an offer, you'll probably accept it --the more serious you are about the bank, the more explicit you can be.
^I agree with Art, when I interviewed every firm was my first choice and everything else was secondary - this worked well for me. "Yes I am interviewing other places, but the culture at your firm sounds unbeatable from everyone I have spoken with." However, it does depend on how you play it; communicate that although you don't need to be with their firm (you have other options), you would like to be with their firm.
What other companies did you apply to? (Originally Posted: 02/02/2011)
Hey guys, one question. I was recently interviewed for a SA position and asked what other companies had I applied to. I answered 3, but did not said more just because I felt it made no sense to go on. Further in the interview the interviewer asked why not go into two of the firms I didn't mentioned but applied to, and I answered that they had a lot of drive and that I was interested in that (I truly am, its my first choice), but again did not said I had applied. Did I made a mistake not mentioning the other firms?
The reason they ask this question is to find out if you are legitimately interested in investment banking or if you are just applying to every job you find. This is especially true if you are interviewing with a specific group like energy. If you answer that you also applied to a ton of small accounting firms, some NPOs, and a marketing firm, then it's obvious you just need ANY job. If you mention a few boutiques that specialize in the same group or industry that you're interviewing for it will show that you have done your homework on the industry and that you are actively trying to get into it by any means necessary.
nb84 is correct. They just want to know if you're serious about going into X field.
Thank you!, anyway I just got dinged, feedback is I should be more serious :( . Well, Bring in the next horse, i just fell from one!
That's the fucking mindset you need. Good luck bro!
Hey former interviewers, when you ask what other banks we applied to what are you looking to hear? (Originally Posted: 01/08/2010)
Some of my friends reported being asked "So what other banks do you have interviews with?" or "What other industries have you applied to?" or "Which boutique or regional banks have you applied to?". One of them tried to vaguely answer "I have interviews with several top banks in NYC area" and the guy kept digging with "oh really? like which ones?"
Anyway, to the former/current interviewers on WSO: What are you really looking to hear when you ask a question like that? Or is this not really a big deal?
Reminds me of my Duke interview back in HS...god that lady would NOT shut up:
"So where else did you apply to?" "hahahaha I thought you weren't allowed to ask that question hahaha" "Well, it's just a simple question. I figured duke wouldn't be the only place you applied to" "Yeah I also applied to most of the Ivies, but Duke is my first choice" "Oh really? Like what?" (takes out pen and paper) I'm like are you fuckin kidding me.
You're the idiot. This is a standard interview question across all industries and is probably one of the easiest to answer with the standard response. Do a search next time before you make yourself look like a moron.
I had companies ask the question indirectly: "What are 3 of the most important traits you look for in a company?" And then following that, "What are 3 examples of such companies?" (They'll assume your answers are other places you're interviewing with, and will generally ask you about that.) Anyway, you should expect this type of question. The standard response is to keep the companies in the same league/tier and of course same field. If they ask which ones, it's no big secret, so you can tell them the comparable firms. What you don't exactly want to lead into, ideally, is "Those are a lot different from what we do. What exactly do you want to do?" Just means you have to convince them a little more, compared to the focused candidate. But you can get around this tactfully if you emphasize your first choice (them of course).
When I asked this question, I was looking to hear that they were a) only interested in investment banking, and b) looking at other shops that were in similar geographies / other MM shops. I'd say that people gave the answer I was looking for about 85%+ of the time. The percentage is much, much lower on a first round phone interview though.
My answer:
"I am applying to every bank under the sun because I want a job really, really bad."
Just be honest - a little competitions goes both ways
If you're interviewing at a BB, you should name other BBs in the same tier, but be sure to note that the BB you're interviewing with is your top choice for XYZ reasons. Same goes for boutiques.
Look at my signature
I don't get it
Neither do I ... look at my middle finger :)
Just playin ...
Say you got a BOAML FT offer and create a personalized offer letter. They will be impressed and give you an offer in a second.
Just to add about your Duke interview.
You know that the interview has no bearing on your admissions decision. You are correct that she shouldn't have asked you that question, but the information she wrote down she wouldn't have turned in 1) because Duke doesn't care and 2) because it would have gotten her in trouble.
Just thought I'd post that just in case other people were worried about that question during school interviews.
Talk up the company you're interviewing for, name the rest.
This is how you should answer:
"Well I have had interviews with Firm XX and firm YY, however, this is my first choice." "I can't imagine turning down an offer from here if I were to receive one." Boom. It sends a signal that you are enthusiastic about the Company, and that you are also being pursued by other firms. If you have an offer, this tactic works even better... you say something to the sort of. "Although I have received an offer from XX, I have been reluctant to accept, due to my interest here". Best of luck
So when we say same tier, what are we talking here?
GS, MS, JPM
CS
The rest?
Don't want to turn this into another rank the banks, but say it's stupid to mention you have a GS/MS superday at say UBS/Citi superday? but one tier above is ok? ie saying you're interviewing at CS for UBS/Citi?
Basically same tier is GS, MS and JPM
The other ones go below like Barcap, Citi, BAML, etc.
lower stil will be UBS, CS, WF, etc. but in all essence everything about GS+MS+JPM can be linked together. Bankers all have huge egos so if you mention any of the 10 BB's they will consider their bank just as good, though dropping the Goldman Sachs bomb if you're at UBS is perhaps not as wise.
Just use common sense. This question only gets hard at boutiques and MM's where you should not say GS if you're interviewing for Piper Jaffray, etc.
"What other companies have you interviewed with or applied to?" (Originally Posted: 10/21/2013)
Would refusing to answer this be a disqualifyer?
Probably so. Just because it would be so damn weird.
I used to have this problem, I'd try to make up a good answer and sound retarded. Just err on the side of caution and name 2 or 3 similar companies to the one your interviewing at.
Don't you ever people lie about stuff to make it sound better?
It'd be SUPER weird if you said "I'd rather not answer that question" or something along those lines.
Why would you not want to answer this question?
Something generic like interviewing with other MMs or BBs. If pressed for specifics, then....
It would be awkward & probably an auto-ding if you refused to answer the question. Just come back with one or two company names that are relevant to the interview. It is very unlikely they can verify it or check on it. Keep your cool...
For example, if I was interviewing for opps or sell side and I told those people that I was interviewing for AM would that hurt my chances for the first two?
Either make up a couple of names (I haven't done this, even if I wasn't interviewing elsewhere) or just tell them this is the only place you're interviewing. Just don't not answer the question, that'd be the worst option.
just say 2 or 3 similar shops and then end it with "but this is my first choice, i'd love to work here if i got an offer."
How to answer "What other banks are you interviewing with?" (Originally Posted: 11/19/2013)
I got this question while interviewing Barclays in its HK office. I did expect this question but I wasn't expecting to be so specific: the interviewer wanted to know the names.
So I told him I was applying and interviewing at mostly other BB banks, like Merrill Lynch in HK, but also others like Goldman Sachs, UBS, etc. in the US.
Do you think I answered this question well enough?
As long as you told the truth, you answered well.
yea. wouldn't lie. sometimes exclude some names... Like if you just told a BB that you love the BB culture, its tough to explain why you are interviewing at boutiques.
This
Also location matters. For example, if you are interviewing at a place in Chicago, don't just name NY banks but rather others in Chicago as well.
Terrible answer, you probably got autodinged. You want to say "I am only interested in your bank and I would do anything to work here. Speaking of which, would you like me to use lotion when I give you an old fashioned?"
Compile a list of other banks you are interviewing with and recite it.
i would mention only 1-2 names of similar banks
I think a lot of us overthink it. But good job if that's the truth. If its a lie, its a small world.
Yes that is the truth; I am pursuing other BB banks. He didn't ask me why Barclays HK or BB specifically; he just wanted names of other banks.
Also, I'm not sure about saying "I'm only going for your bank," because it makes you sound desperate. I read that the strategy for answering this question is to make the interviewer feel jealous.
Also he asked for "pursuing" and "applying" and not "interviewing." I only said 'm applying and pursuing other BB banks. I know that bankers all know each other and everything, but are they actually sharing which candidates they're interviewing? That information seems too confidential.
Also, I did not give out many names, only BoA, Goldman Sachs, and UBS.
Just be candid. Makes you look more attractive, but don't lie about it. The industry is small people have friends/contacts at every firm.
be honest. if you've interviews lined up with other banks then mention it casually but make sure you convey that their bank is your first preference and why.
You should say "I have looked into other firms that interest me, but your firm is a primary target."
What other banks are you interviewing? (Originally Posted: 01/25/2014)
I got asked this question when interviewing for a couple boutique banks. I said I was focusing on smaller/boutique banks because of their small size that allows better communication, more opportunities to put junior bankers on the front lines, and a trend in client firms to seek out boutiques due to their specialized background in certain groups. I am currently interning part-time at a regional boutique so I know from experience this is what smaller banks can offer. One of the guys I interviewed actually transferred over from a BB for the same reason: better, more friendly environment where junior bankers can still get some experience on the front lines (Even though they're likely just there to watch).
So if asked this question again, should the appropriate response be to say other banks within the same category (BB, MM, Boutiques)?
Oh and I do have an interview lined up with a BB, but I didn't mention it because I haven't started interviewing yet. Since BB are more renown than most boutiques, would it be worthwhile to t mention it? I know if you're interviewing a BB, it's probably best not to mention a boutique or MM.
I received this question at almost every SA interview this season. And, you're assumption is exactly right. I think that banks want to see that you are sincere when you explain why you are targeting a BB/MM/Boutique. Definitely limit your answer to the given bank's competitors.
I also think it is important to note that you should not lie. That could come back to bite you down the road.
Thank you. And yeah I know not to lie. I really was interviewing other boutiques at the time. Banking is a small world and it's really easy for one banker to call up another.
I always answer truthfully. Sometimes I won't say the names of the banks but just allude to them. I said the name of some BB's when at an MM and I think they took me a little bit less seriously after that though to be honest.
Answering the "what other banks" question (Originally Posted: 01/31/2007)
I just got a first round for summer at Lehman (non target w/o a referrer) and one of the questions they ask me in the e-mail before the actual interview is what other banks I'm interviewing with. I've applied to a couple with referrals, who let my referrers know that they start contacting referrals only in late-February. I expect to get interviews from at least a couple of these referrals, but does it look awful to tell Lehman that I'm not interviewing anywhere else for sure as of yet? Thanks everyone.
If you don't have an interview don't tell them you do.
Depends on how you define "interview". When I had some first rounds, I had "informational interviews" at some places, so I just said "I am in the process with X, Y, and Z banks". They didn't ask which stage I was in, but if they did, I would have told them the truth.
Of all the banks I interviewed with, Lehman was one of the ones that asked the question in every single interview. Expect to continue seeing that question as you move forward. I'm convinced that a major reason I got an offer from them is because I had offers from a couple of other places at the time.
Lehman has been doing this for a few years for two primary reasons. First, to gauge the probability that you will join the firm if you are extended an opportunity, (weighing this against your appeal to them amongst their recruiting targets, your background, accolades, etc.) And secondly, to determine whether or not you're a commodity or an atrocity. (Everyone wants a potential high performer but Lehman is particularly judicious given the high demand for these prototypes among BB firms.)
Think of it like this. If you were an NFL general manager preparing for the draft and you had the 4th pick in the draft, would you spend all of your time focusing on the top two prospects? The answer is no. Your best of the best are people you want, but you want to be very aware of their other options. Otherwise this could prolong the HR's/MD's analyst placement process.
In regards to your question, I told them the truth when I was interviewing more than a year ago. My response would be, "I'm seeking opportunities with...(name 2 others; my opinion that any more makes you look desperate)", and that I'm preparing for interviews in late February. Cool, honest and some ambiguity in your response.
If you tell them late Feb and they really want you, they'll let you know almost hours (not literally) after your interview in hopes of snatching you up first and that way they know they're first...
The "what other banks are you applying to" question (Originally Posted: 10/23/2008)
So in the past, when I have gotten the "what other banks are you applying to" questions, I have been completely honest with my interviewers. I had a superday with a top MM bank in IB, and have a superday coming up with a top BB for IB on Tuesday. At my MM superday, I was honest, said I was applying a number of places, including the name of the top BB. I thought the interviews went great, felt good that I was going to get the offer, but then didn't. I now feel as though I screwed myself by not just lying and saying I was applying to some smaller places but that they were clearly number one, but thats besides the point.
Now what do I say in my BB interview when I get that question, and I have now been rejected in the other Superday that I had (I am still waiting to hear on some S&T positions)? What do you think?
people fret about this a lot of the message board,but honestly this isn't going to be the reason you were rejected.
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