Job interviews are usually more stressful than we expect them to be. Even when people have the best resume, when their experience is great for the position, they can still do not so well because they were not prepared, or they were nervous. Just like in college, it is sometimes more important to know what kind of questions you can expect, rather than trying to know everything. Of course, you need to know how to do your job, but knowing what answers to give to certain questions can be crucial for hiring.
When it comes to investment banking interviews, there is a set of questions that is almost always asked. These can range from your education, previous experience, future goals, and so on. Things like researching about the company and having a high-quality resume are important as well. To help you prepare for the interview for your dream job, we have made a list of tips that will help you stand out among your fellow colleagues.
Know their company well
To be able to show why you are the right person for the position you are applying for, you must know what the interviewer would like to hear. When you know what the investment banking company’s vision is, it is easier to show them why you are the right person for the job. Learn what all they have achieved, and what their general strategies are.
When you talk about your previous experiences, your education, your future goals, try to fit them into their vision. Talk about all the things that have made you suitable for their company. Of course, talk about other things as well, but, make sure you don’t go too far from what they would like to hear. Everyone likes when their new colleague fits in well. It is good for them to see that you have done your research, but make sure you are not overdoing it.
Make a good resume
Most people think that making a resume is easy. You just have to write your information down, right? Unfortunately, it is not that simple. Writing a good CV can take a lot of time and effort before you have the perfect representation of yourself. The biggest mistake people make when it comes to resume writing is having one for everything. Since your resume is the first thing your interviewers will see, you must stand out.
What is even more important is putting relevant information for the position you are applying for at the moment. As the Tier 1 Wall Street guide says, if you don’t present your information well, and if you don’t present the right information, you might not even get the interview. When you apply for an investment banking job, make your resume as analytical and banking-based as possible.
Prepare a good self-pitch
When your interviewers ask you to tell them about yourself, it is important to have a short and effective story. This story shouldn’t be more than 200-300 words long, which is around one and a half to two minutes. In the beginning, tell them where you are from, what university or business school you went to. For this part, say only one or two sentences.
In the next part tell them why you became interested in investment banking in the first place. You can talk about a specific person, event, or experience that has made you choose it as your career path. Then, mention what experiences have helped you gain the skills for the job you want. In the end, say why their company and group fit into your plans for the future.
A good-self pitch can be crucial for your interview. Since this is usually the first thing they ask you, you can catch their attention and make them more interested in hiring you right from the start of the interview.
Technical questions
For these types of questions, there are no shortcuts. You have to put the energy and the time into studying relevant topics. If you can’t answer the technical questions well, the interviews can assume that you are not interested in the field. If you fail at this part of the interview, they will think that you are not analytically capable.
Make sure you cover topics such as valuation metrics and multiples, accounting concepts, equity value, and enterprise value, accounting concepts, and discounted cash flow analysis. Study M&A and merger models, as well as leveraged buyouts and LBO models. Depending on the company, you might want to go through some other things too. That is why it is so important to research the firm that you want to work at.
“Fit” questions
All questions that are not related to company, market, or deal discussions, fall into the category of “fit” questions. These include “what is your biggest strength?”, “What is your biggest weakness?”, “what was your biggest failure?” and so on. You get the gist. The main point of these questions is for the interviewers to see how you see yourself. They want to know how you handle stressful and unwanted situations.
For example, if they ask you what your greatest strengths are, some acceptable answers would be the ability to work long hours, leadership skills, attention to detail, financial/analytical skills, and so on. For the biggest weaknesses, you can say: second-guessing yourself and not always speaking up when somebody makes a mistake.
Whatever negative thing you say, make sure you tell them how you have improved compared to the past. Nobody is perfect, we are all humans after all. But, the interviewers will want to hear that you like working on fixing your flaws.
Preparing for any kind of interview will demand work. Make sure you do everything you can to prepare for it, instead of improvising. If you show up to the interview packed with motivation, knowledge, and confidence, you will increase your chances of getting the job majorly. Research what the company does, how they do it, and what their goals are to prepare for a specific interview. Make sure you have studied the technical topics, know how to present yourself, and you will be good to go!