investment banking interview. tips (1 Viewer)

[khosanman]

any tips or advice from anyone who has been there before

 

[koube0530]

they might ask you to run through a dcf of a gold company or something like that. might ask you think of the coles. how much do you think coles is worth?

 

[khosanman]

Well the role is in private wealth management, not that area.

For some reason when people think of a grad job at investment banks all they think of is corporate finance roles.

So I would think they wont ask me about that.

It will certainly be more behavioural based for the first interview.

These worry me, im not so good at them, I need some good examples to use, but dont have many, some good academic ones too. etc

 

[turtleface]

I think the previous poster referred to corporate finance because you're thread title is "investment banking ..."

As for interview tips, what I like to do is google these things and a whole host of useful info comes up

 

[geetarjoe]

Hey mate,

I've been through the ringer at 5 or 6 investment banks, but only through their investment banking divisions.

As you've rightly pointed out, the interview for private wealth management will be different to the IB interviews.

From Goldmans website, they say that PWM professionals should display:

• strong market trading acumen
• an ability to establish and maintain strong relationships with their clients
• an awareness of the broad range of investment options available to their clients
• an awareness of the pertinent legal issues in an environment of increasing regulation.

Thats pretty broad, but it does give some indicators:

• You'll have to be sharp on your trading and market knowledge. Know things such as the current cash rate, what the ASX All Ordinaries closed at, what direction is the market heading?
• You might get a question such as "what three stocks would you buy with $100,000?". In my interviews I used a speculative mining company, a stable cash-cow in a strong market position (I used David Jones), and then an IPO coming up. Just be ready to justify your decision, so bone up on recent performance and outlooks.
• Teamwork and retail experience will be a favourable factor. You might not think working in a deli, or a bottleshop, or playing football matters much. But retail work shows you know the value of good service while being under-appreciated. Team sports allow you to show your teamworking ability. Banks love this.
• You'll need to know a few different investment types. Look at bonds, Australian and International equities, and some derivatives (hint: CFDs are hot at the moment.)
• As for the legal issues - don't insider trade, keep all your information confidential, don't dodge the tax man too hard, don't sell out your own firm or client.

You could reasonably expect a few brainteasers or mental math questions. Things such as "what is 99 squared?" or "how many ping pong balls would fit inside this room?". For the out-there questions involving ping pong balls or pizza, the thought process is more important than your answer. Reason the problem out step-by-step and you'll be OK.

As for behavioral questions, for a client-facing role the questions will probably focus on:

• When was a time you had to resolve a dispute? How did you do it?
• When was a time you had to work in a team? What was the result?
• When have you shown initiative?
• Has there ever been a time when you got something wrong? What happened?

The toughest questions are the ones that are pointing towards weaknesses. For these ones, be honest, but show how you sought to improve yourself or learn from the mistake. Banks love people who can admit their wrong, but don't make the same mistake or ask the same question twice.

Don't be afraid to use the same example more than once, but try and avoid it. I was told once in an interview that if it is the best example you have, use it. But try not to sound like a one-trick pony.

Read over your CV and cover letter before you go in, just so you know what you put in there. They'll almost certainly run through this with you (don't worry, this is the friendly bit.). Just questions like "why this degree?" or "what do you enjoy about uni?".

This bit is important. If you are using an example situation (for a behavioural question) from a previous job that is on your resume and, don't stretch the truth too far. If you want to use someone from the job as a referee it has been known for HR to ask them about the siutation you provided.

Other than that, be confident, polite and bright. Look happy, smile and be friendly. These things are important.

 

[Newbie]

pwm is all about giving bj's to individual high networth individuals, as opposed to ib who give bj's to companies and sponsors, so you might anticipate some behavioural stuff on how you would react to certain client situations when you've lost them lots of money or some kinky role play shit involving clients and lube.

heres some sample questions from lemming bros.

General Questions

* What attributes do you consider to be your strengths?
* What would you like to improve about yourself?
* What do you think would make someone a successful analyst or associate?
* Describe a leadership role that you have held and what you have learned from it.
* Describe a time you worked in a challenging team environment.
* Describe a time when you have taken significant initiative.

Sample Problem-Solving Questions

* What do you consider to be the long-term global impact of the current price of oil?
* What time of year would a ski lodge be likely to need more financing? For what?
* Where do you believe the equity market is heading this year and why?

 

[khosanman]

Hi all,

Thanks for the advice, very detailed and I reall appreciate it.

Anyway I had the interview and good news is I have got a second interview!!

The interview was not nearly intensive as I thought it would be and really not many behavioural type questions.

So now what sort of things should I be looking at with the 2nd interview. Its with 2 of the big wigs I think.

Thanks

 

[khosanman]

UPDATE:

well had the second interview yesterday, and it felt like it went not too badly. So I can only wait and see.

Was much more positive then the first one in that it went alot longer, over an hour, infact they had to call into the meeting room to start kicking us out cos someone else needed it.

So anyway, willsee how we go, I have no idea what their thoughts were.

 

[velox]

nice work

where was the job advertised?

 

[velox]

So any news?

 

[khosanman]

I GOT THE JOB!!! Bloody brilliant

received the contract today.

So thanks for the tips guys, came in handy.

was a bit scary going to work today and having to resign after 2 months of auditing. They took it quite well I think the partner I told was a bit shocked. Also the bastards though are making me work out my 4 weeks before I go, so I dont get a holiday before I start at goldman sachs. Oh well im just gonna rattle a few cages in my final weeks

 

[Vagabond]

Congratulations. Good that you got into what you're truly after.

 

[velox]

I GOT THE JOB!!! Bloody brilliant

received the contract today.

So thanks for the tips guys, came in handy.

was a bit scary going to work today and having to resign after 2 months of auditing. They took it quite well I think the partner I told was a bit shocked. Also the bastards though are making me work out my 4 weeks before I go, so I dont get a holiday before I start at goldman sachs. Oh well im just gonna rattle a few cages in my final weeks

nice work, but where was your job advertised? (the GSJBW one)

 

[khosanman]

they use the recruitment companies for a of ftheir jobs

 

[JoshA]

May I ask which type of behavioural questions they did ask?

thanks!

i have two interviews comin up for cadetships, gettin a little worried they might ask me some big type of question like i see in these threads....

sucks to be an inexperienced 17 year old school kid =(

i dont even know what the ASX closed at yesterday... *prays for the job*

 

[khosanman]

Ok dude, my advice is this...

with me it was a bitdifferent, because i have some experience, so they did my behavioural questions more by asking about experiences by going through my resume for them, so i actually think this was harder, cos i had to think about the various behaviours i exhibited.

For you they will probably direct the standard ones at youy, maybe worded a bit differently. So do some research and find out what kind you will get ie, what are your strengths, tell us about a time you worked in a team. And find out how they should be ansewred. Then come up with atleast 2 examples for each, 3 is best.

Then learn a lot about the company and the division you are going to be applying for. culture, what they do etc...

I know there is alot to take in, but it may be worth taking a couple of days to study for it like an exam. Thats what I did.

At the same time, try to find out what they want for the position and tailor all this for that, and youself. They are very worried about fit, not necessarily how brilliant your results are, that just gets you in the door.

And remember it is also important to be yourself, having said all that. Because they will prboably see right through you.

And its also really important to be energetic and entusiastic. Be passionatea bout it all, show them that you have a genuine interest in the area, be excited.

 

[JoshA]

Ok dude, my advice is this...

with me it was a bitdifferent, because i have some experience, so they did my behavioural questions more by asking about experiences by going through my resume for them, so i actually think this was harder, cos i had to think about the various behaviours i exhibited.

For you they will probably direct the standard ones at youy, maybe worded a bit differently. So do some research and find out what kind you will get ie, what are your strengths, tell us about a time you worked in a team. And find out how they should be ansewred. Then come up with atleast 2 examples for each, 3 is best.

Then learn a lot about the company and the division you are going to be applying for. culture, what they do etc...

I know there is alot to take in, but it may be worth taking a couple of days to study for it like an exam. Thats what I did.

At the same time, try to find out what they want for the position and tailor all this for that, and youself. They are very worried about fit, not necessarily how brilliant your results are, that just gets you in the door.

And remember it is also important to be yourself, having said all that. Because they will prboably see right through you.

And its also really important to be energetic and entusiastic. Be passionatea bout it all, show them that you have a genuine interest in the area, be excited.

wow very nice!

I have done such research and had a mock interview but I found it quite hard as I was trying to find the right answers that they would want to hear with all honesty. I found that I could not answer questions immediately but now I'm prepared with 3 nice canned answers for such situations (but of course I will change them according to what they ask)

thanks a lot for your insight ^^

hope all is well =)