Tips on Investment Banking Interviews
- Giving good interviews plays a crucial role in landing an investment banking job.collar and tie image by Andrew Breeden from Fotolia.com
Investment banking is a competitive field. Firms often receive upwards of 500 applications, from which they will choose perhaps 10 people for an interview. Those with promising resumes may receive an invitation to attend superday, an all-day or half-day marathon of meetings with analysts who then decide which applicants will receive an offer. To stand out from the crowd, you must display confidence, energy and intelligence. - Market conditions change rapidly and are subject to political events, forces of nature, shifting technologies and everything between. If you want to land a job in investment banking, stay abreast of current events. Your interviewer may ask which periodicals you read and what recent articles you found interesting. Hint: "The Wall Street Journal" and "The Economist" are both widely read in investment circles.
- The types of questions you will receive during an investment banking interview depend on whether you are applying for an entry-level or internship position, or whether you come to the table as an experienced analyst. If you're fresh out of college, prepare yourself for "fit" questions: "Why do you want to be an investment banker?" "What skills or qualities would you contribute to the firm?" Analysts want to see enthusiasm and hunger to get ahead. If you have experience, your interviewer will ask you to demonstrate technical knowledge.
- As you churn through the superday interview process, a firm's analysts will examine your demeanor as much as your responses to their questions. Though sitting on the hot seat all day can prove taxing, pace yourself so you can project energy and confidence during every meeting you attend. One bad performance in a series of otherwise decent interviews will stand out when it comes time for the analysts to make their decision.
- Investment bankers like to see applicants who are team players, hard workers and strategic thinkers. Before you walk into an interview, prepare for the obvious questions, such as, "Tell me about yourself," and, "Why do you want to work at our bank?" by picking out elements of your knowledge and experience that highlight the qualities investment bankers value. Do not word your responses to feel scripted, however---while hitting the substantive notes, work in ways to let your interviewers know you are interesting and fun to be around too.
