7 Day Step-by-step Guide to Any Investment Banking Interview
7 Day Step-by-step Guide to Any Investment Banking Interview
If you work efficiently, you will only have to prepare
an hour or two a day...but add this together and that means that
in a week you will have done 10-14 hours of effective
preparation and you will be totally ready for your investment
banking interview!
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DAY 1 -- CONFIRM THE INTERVIEW + RESEARCH THE FIRM
A. CONFIRM THE DATE/TIME/LOCATION
These days most likely you will have been invited for the
interview by phone or by email. The first thing is to make sure
you have all the details and can make the date/time.
Check your diary. If you can't make it, let the firm know
you can't make it as soon as possible and come back with a
set of other days/times you can make it.
TIP: Be EXTREMELY apologetic if you can't make the
suggested date/time. Banks run all-day long interview rounds and
it takes a lot of time and effort on their side to make
sure everyone is available (needless to say bankers tend to
be very busy people!). There may also be a chance that the
organization cannot reschedule and you may have to either wait
for the next round in a few weeks time or be left out of the
recruiting process altogether. So if you say you can't make it
make sure you really can't make it.
B. GET AS MUCH INFORMATION ABOUT THE INTERVIEW
Find out what format the interview is going to take. It it going
to be a 1-1 with someone from HR or a panel interview with
people from the business, etc? Is there going to the be a
quantitative/psychometric test?
All of this information can be found out through the
HR department or, if the interview is being organized by the
business directly, from the interviewers' secretary. It's
absolutely fine to ask these questions, don't be intimidated.
Best case scenario you end up with an extra set of information
to help you prepare which will put you at an advantage in
relation to other candidates (most people don't dare asking!).
Worst case scenario you don't have any additional information
and you can prepare with the data you have.
If you are interviewing through a recruiting
agency ("headhunters") it is their duty to obtain as
much information as possible, and as a minimum should be able
to give you some background on the interviewer, the
organization and the role they are recruiting for. You can also
ask for example if the have put through other candidates before
you why they were not hired, etc. so you don't make the same
mistakes.
If you are attending a formal assessment centre with other
candidates some of the information may be deliberately withheld
to ensure a fair comparison, which is fair enough. But asking
never hurts.
C. RESEARCH THE COMPANY
This step is key not just in finding out whether it's the right
company for you but will also be essential in the following days
when we will go into a bit more detail on how to impress the
interviewer and stand out.
What are the best ways of going about researching a company?
I. The corporate website
The first obvious port of call is the corporate website. This
will give you an overview of what the company does, what the
different areas of business are, which ones are the growth
areas, etc. If the company is listed, the corporate site will
also contain annual reports and other regulatory filings which
will contain a host of data on the company's performance.
II. Google
Do a google search and go past the obvious few hits which will
be from the firm's website. A number of other websites
will come up with articles about the bank's recent deals, press
perceptions, etc. Google also has a function that allows you to
search on forums. These may prove invaluable to gain insider
information about any major issue that the bank may be facing.
III. Jobseekers' websites
Sites such as Vault.com, Wetfeet.com have forums divided by firm
where you can find advice from fellow jobseekers who are also
interested in employment opportunities with that institution.
IV. Talk to people you know who may be working in the same firm
or sector
Goes without saying, they can be a very time-efficient way of
gaining key insights before going for the interview!
Note:
Interviewers are always impressed when a candidate is able
to show some factual knowledge about the company or its plans
(you would be surprised how many people walk into an interview
without even performing this basic research!). They come across
as more "intelligent, capable and driven" than other
candidates, even though all they did was an extra few minutes
search on the web!
So today, get this done:
1) Confirm to the bank that you can make the interview on
the suggested day and time, if you haven't already done so
2) In the same call/email (or in a separate one if you have
already confirmed the meeting) gather as much information as
possible on the interview format, attendees, purpose, etc
3) Research the company's growth plan, financial
performance, industry etc on the web and through contacts. Keep
all pieces of information because you will need them for the
course in the next few days.
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