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Becoming an associate requires you to not only know how tobuild financial models but to have an understanding of how the bank relates tothings like risk and the various businesses within the bank.
Here's a sampling of questions you might have to answer duringyour interview.
1. Provide examples that demonstrate your managerialskills?
You might discuss the experience you've had running a teamof peers, supporting the bank's deals. Talk about leading the team inconducting research on deal background and financials on multiple deals overthe past year.
2. Discuss your experience working with clients.
Associates will need to have solid client service skills.Here, be able to demonstrate your ability to work with bankers, lawyers,company managers and executives. Be sure to emphasize that your work withclients has included both marketing and banking work. You should also respondby asking for clarification on the role client service will play in your job.For example, would the amount of client interaction increase? Would the clientfacing be the same or more intense?
3. It's ten minutes before a big client pitch and younotice a mistake in the pitch book. What do you do?
This one's designed to see how you'd handle a pressuresituation. There's no right answer, says Joanna Moody, North AmericanRecruiting Manager at JPMorgan. An interviewer is trying to gauge your thoughtprocess and your ability to manage unpredictable situations effectively.
4. Why did you get into investment banking?
Besides wanting to make your first million, it's importantto demonstrate a passion for the job. Be sure to provide examples where you'vebeen successful as an associate. Show that you've done the analysis on deals,but also understand the big picture. This is the time to go well beyond yourB-school knowledge. It's about ideas. Talk about how you'd help a client raisecash in on capital markets or advise in a merger or an acquisition. Alwaysprovide real-life examples to show off the experience and personality traits thatan investment bank and interviewer are looking for.
5. Describe your experience with risk and how you madedecisions that involved risk.
As an investment banker, you'll inevitably face toughdecisions, notes Jeff Leader, partner at Global Search Partners. How you handleyourself in situations involving risk - to the bank's money and clients'success - is critical. Your answer should show that you possess sufficientanalytical skills. This is best achieved by pointing to examples of situationsin which you managed risk in a deal. Enumerate any assumptions made during youranalysis on a transaction.
You can stand out by asking the interviewer how the bankapproaches risk as it relates to your role. Ask whether specific valuationmodels are used as templates to evaluate deals, for example Be sure to askabout risk parameters, and who's responsible for determining them and howthey're applied to specific deals, says Brian Berger, senior vice president atGlocap Search.
6. What kind of industry knowledge do you have?
Hopefully, your work as an analyst afforded you with anopportunity to work in multiple industries. Interviewers want to know thatyou've gained some industry expertise. This way, whether the bank puts you on ahealthcare or retail transaction, you'll be prepared.
7. Tell me about the kind of deals that you have workedon?
Besides wanting to know if you've focused on equity orcredit deals, the interviewer is gauging whether you'll work well on a team. Besure to highlight a specific deal that you've worked on, and describe the roleyou played. Go into detail as to how tasks were divided, i.e. did one personhandle spreadsheets, with another in charge of presentation books? Alsohighlight whether you had direct interaction with clients or other parties,like lawyers.
8. What do you know about our firm and it's culture?What about our firm and culture appeals to you?
An interviewer is almost certain to ask you about the bank.Don't just visit the bank's website. Talk to people, ideally someone you knowwho works there. Ask around and try to get a feel for the culture and whatpeople on Wall Street believe to be the strongest selling points of the bankyou're interviewing with.
9.What unique attributes do you bring to a team? Can youprovide examples?
Whether you're in sales/trading, research, or corporatefinance, an interviewer is looking for skills that will help the bank besuccessful by selling products and winning new business.
Whether you possess industry expertise, leadership skills,or the ability to build relationships that help source deals for the bank, thisis your opportunity to stand out. Well in advance of the interview, think aboutthe unique value proposition you can provide to an investment bank. Whetheryou're an automotive expert or you possess a strong rolodex, an interviewerwants to determine what you'll bring to the bank if you come on board.
10. What kind of experience do you have managing others?
Finally, investment banks are looking for leaders. They'llwant to determine if you're managing director or vice president material. Theroad begins with being able to lead a team of other junior bankerssuccessfully. Cite examples in which you took the lead on a deal, or coached ananalyst through the development of a pitch book or financial model late intothe night.
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发表于 2011-12-19 15:46:07
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