Advice for Citi Corporate Banking Superday?
I have a Citi Corporate Banking superday next week. Does anyone have any advice on how to best prepare for it? It's for their energy group and for a summer analyst internship.
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I mean this is baSICALLy a glorified bank teller role. You're just the dude who talks to people when they come into the branch. For a superday I would practice data entry and know how to set up bank accounts.
Agree with above...Citi has a lot of departments with sexy names, only to get there and do data entry all day. NOW CITI IS A GREAT PLACE TO WORK..Dont get me wrong. But be cautious because you might end up getting sucked in and stuck doing Bank teller gigs
Forget the posters warning you away from a "glorified bank teller" position. Citi houses Corporate Banking under the same institutional umbrella as IB. The incoming FT analysts share a lot of the same training in NYC, and the base pay is the same. (There are several recent WSO threads salary/bonus levels across CB as an industry.) CB at a BB like Citi is a great gig . . . if you can get it.
The interview will probably not focus as heavily on technical knowledge as would an IB interview. Still, you'll be better off if you have some basic accounting knowledge (above all, the 3 financial statements). Being able to talk about valuation strategies (DCF, comparable companies, etc.) might be helpful, but this won't be nearly as important as it would in IB. However, since CB deals with loans, you should try to be familiar with at least some of the relevant credit lingo. Mergers&Inquisitions had a good piece on Corporate Banking that discussed some different loan types and credit principles. Give this a quick read.
Since the position is for Oil & Gas, you should be able to distinguish between the main sectors of the industry: upstream, midstream, downstream, and oilfield services (OFS). IIRC, M&I also had a useful piece on energy banking a few year ago. That should help.
Fit questions will be very important. Be prepared to explain why you are interested in Corporate Banking--and, in particular, why you are interested in CB as opposed to IB. Don't treat CB as a consolation prize for the IB gig that you didn't land. There is at least one WSO thread on CB that has some great advice for answering the inevitable "Why CB?" question. You might also get a "Why energy?" question or "Why Houston?" or a "Why Citi?" question. Again, don't reply with a non-starter like "Because I couldn't get GS TMT in SF."
In answering such questions, you will at the same time be conveying something about your personal fit with the office. That's important, because CB is not a more-or-less automatic two-years-and-out gig like IB; people tend to stick around longer, so the folks interviewing you are making a judgment about whether or not they'd like to work with you over the long term. Be yourself, be friendly, and be able to talk coherently about your own resume / history.
The superday might be blocked off for 9-5, but it almost certainly will not last that long. You might have 30 minute interviews with 5 or 6 different people, and sometimes the candidates are invited to a lunch gathering. Of course, it would be prudent not to schedule anything for the afternoon (i.e., you should plan on missing afternoon classes if the interview is on a weekday), but the interviewers won't be shining a bright light into your eyes and putting you through the ringer for 8-9 hours.
Finally, try not to be depressed or discouraged if you don't get an offer. It's a competitive field, and there are a myriad of factors that go into determining who gets an offer and who doesn't. Be yourself, do your best, and keep your chin up. Good luck!
Thank you so much for your insight! I really appreciate the advice on everything.
Do you know anything about the case study portion of the superday?
Again, I wouldn't expect the "case study" aspect of a Summer Analyst interview for CB to be overly technical. The most probable assumption is that such a study would involve presenting you with some basic financial information about a company (real or hypothetical) and then asking you how you would go about determining the credit-worthiness of this company as a potential client of the bank. I think that the M&I piece on corporate banking mentions some of the ways in which banks make such determinations for various types of loans.
Since the "case" will probably be industry-specific (involving oil & gas), you'll need to bear in mind that, in addition to the usual factors determining credit-worthiness in any company, a a unique factor in determining the loan limits to an upstream E&P (exploration and production) enterprise will be the estimated value of that company's reserves--i.e., the value of the oil and/or gas that remains un-tapped in the company's land assets.
I imagine that, as in management consulting interviews, your interviewers will be less concerned about your getting the "right" answer than they will be about your ability to think logically and coherently about the case at hand, noting what the relevant factors are and what information would be needed to address the issue at hand. Good luck!
Is it for the Houston or Calgary office?
Why Citi? Sophisticated, best client base, one stop shop Broad set of product offerings, large balance sheet Why Corp Banking? Repeat business rather than single high fees, relationship management Combined with IB allowing to Cross sell products, gatekeeper, mitigate risk, long term perspective, legal/tax
Digitization of payments and banking
OP, please let us know how your superday pans out.
There's a good deal of interest in Corporate Banking displayed on the WSO forums, but a relative dearth of first-hand information about recruiting, interviewing, what actually happens on the job, exit opps, etc.
Any additions to the general knowledge base would be much appreciated!
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