What You Need to Know About the Company

CMC Finance Interview Preparation Guide

What you need to know about the company

Stock price if applicable.
Chairman & CEO/President
Headquarters, size of organization and regional locations.
Corporate headquarters.
Recent events/transactions.
Rank of the bank in the industry.
Some basic financial information (i.e. sales, profits/losses, etc.).
Continue to read the WSJ, especially the day of the interview or visit.

What you need to know about the division/group

Head of the group you are interested in.
League tables/leadership positions; competitor benchmarks.
How the group is structured.
Recent events/transactions/headlines.
Determine if the group you are interested in reads any publications specific to their product group (i.e. Buyouts, The Newsletter for Management Buyouts, Leveraged Acquisitions and Special Situations and Investment Dealers Digest)– see instructions on accessing newsletters in the last section).
Basic financial information about the division/group (i.e. transactions completed, revenue, what % of total revenue or profit that group represents, etc.).

What else is the Interviewer looking for in you?

Are you passionate about the business? Do you know what you are getting yourself into?
Are you a team player and does your personality fit the culture of our group?
How much do you know about the company and the industry?
Will you be able to quickly grasp financial concepts? Are you quick learner in general?
Can you answer questions or deliver information in a clear, succinct manner?
Can you work in a high stress, fast paced environment?
Are you confident and not cocky?
Do you have strong interpersonal and communication skills? Can I put you in front of a client?
Do you have strong leadership skills/experience?
Can you manage multiple projects at the same time?
Are you street smart? Can you think quickly without appearing nervous?
Do you have a strong work ethic?

Developing Your Story: Key Pieces of Advice

Pick relevant time frames: high school probably isn’t relevant. usually just begin at graduation from undergrad
Have different length versions of your story, but be sure to include the most important points or themes in each version
Your story should flow with your resume, but you should not be re-hashing your resume
KNOW what you put on your resume. Review the names of people you worked with, how many people in your dept, etc.... Do not look at your resume to answer questions.
Don’t read off your resume or pause to refer to it when interviewing
Keep your story consistent
Your story should always answer “why banking?”
even seemingly unrelated experiences have relevance
think of the characteristics that the bank is evaluating: managing deadlines, team work, leadership, communication
If you mention it, it is fair game - be careful what you bring up
Practice, practice, practice! If you wait until mock interviews begin, you’re too late. Form teams to practice interviewing (i.e. try tripod format: 3 people consisting of an interviewer, interviewee and observer). You have a lot of information to cover, but the more you practice with others, the more comfortable and prepared you will be on interview day.
Bankers think in bullet points. Don’t be long winded when answering questions. Keep your answers short.
Have a strong close! At some point during the interview, you need to take a few minutes to communicate your strengths and why you would be a good fit within the organization.
At the conclusion of the interview, make sure you have a few good questions to ask the interviewer and that you find out what the next step will be – this question is crucial!

Things to mention whether you are asked or not

Mention the names of all other bankers at that bank with whom you have met and done informational interviews.
Mention the names of all other banks with which you are in final rounds or from whom you have received offers.
Tell your story of why you want to work in investment banking.
Mention names of prominent deals the bank has done.
Show that you have done your homework and know that groups are strong at the bank.

Skills/Qualities to demonstrate you have

Academic excellence
Relevant business experience
Demonstrated leadership experience
Demonstrated work ethic
Interviewing skills
Computer/math skills—problem solving/analytical/modeling
Perceived client relationship skills
Know why you want to be a banker (story)
Know why you want to be at their bank

Other Resources

Visit the bank’s website! You will often be surprised with how much information is on there.
A few periodicals you can start familiarizing yourself with are the WSJ, Barrons, Financial Times and Business Week to name few. You should pick at least 2 to read frequently.
Read the Vault Guide to Banking Employers. Goizueta intranetResearch Resources Goizueta Business Library E-Resourcesby titlevault reports (enter the password) Download Vault GuidesSelect Vault Guide to Banking Employers.
Read the applicable sections of the Vault Guide to Finance Interviews. It is geared toward Wall Street interview prep and has many questions (and answers) you can review. You can access it online by doing the following: go to the Goizueta intranetResearch Resources Goizueta Business Library E-Resourcesby titlevault reports (enter the password) Download Vault GuidesSelect Vault Guide to Finance Interviews.
Read the latest news from the newsletter, Buyouts, The Newsletter for Management Buyouts, Leveraged Acquisitions and Special Situations. You can access online by doing the following: Goizueta Business Library E-Resourcesby titleBusiness Source Premier type the word “buyouts” in the empty Publication field and press enter. The most recent articles from the newsletter will appear at the top. Kim Whalen has provided me with a handout of more detailed instructions and a sample newsletter – if interested, stop by my office to pick up one.
Read the latest news from the newsletter, Private Equity Week. You can access online by doing the following: Goizueta Business Library E-Resourcesby titleBusiness Source Premier type the word “Private Equity Week” in the empty Publication field and press enter. The most recent articles from the newsletter will appear at the top.
Access periodicals like the Daily Deal and Venture Capital Journal on the following link:

What you might be asked during your interview

I. BEHAVIORAL QUESTIONS

Personal

Tell me about yourself.
Walk me through your resume.
Tell me why banking/ Finance?
I haven’t had time to read your resume, fill me in…
What do you want me to know about you and your background?
You are a career-changer. What makes you want to do banking?
You have never done banking/ finance before. Why now?
What makes you think you can do banking/ finance?
What are you most proud of on your resume?
What are your career and educational goals?
What is the greatest risk we face in hiring you?
How did you prepare for this interview?
Why you? There are many qualified candidates.
What motivates you?
Give me three words to describe you.
How would your friends describe you?
Where do you see yourself in 5/10 years?
What are the three most important events in your life?
What new goals have you established for yourself recently?
If you could do ‘it’ all over again, what would you do differently?
What were you doing during this gap of time I see here on your resume?
Tell me about a decision you have made that you later regretted.
What are the three best ideas you’ve had in the past five years?
Did you get an offer from the firm you worked for this summer?
Do you have other offers? Why would/wouldn’t you take our offer over one of the others?
What do you enjoy doing outside of work in your free time?
If you had six months ahead with no obligations and no financial constraints, what would you do?
If you could invite anyone you would like to a dinner party (famous or historical figures, dead or alive), which ten people would you invite?
If you could trade places with someone for a week, who would it be?
What is your favorite book/movie/song/painting or author/actor/singer/artist?
Which magazines/newspapers do you read regularly?
Which books have you read recently?
What would you do if you overheard a junior analyst discuss a confidential pitch/process with his friend at other firm? What if you overheard the managing director doing the same?
Do you see yourself as a trader or a salesman?

Leadership Style

Define leadership.
Tell me about a time when you successfully resolved a conflict.
Give me an example of a leadership role you have held when not everything went as planned.
How would you define your leadership style?
What is an example of an experience in which you took on a leadership role?
How have you demonstrated initiative?
What are some key lessons you have learned about motivating people?
Tell me about a time you led a team/project.
Do you consider yourself a team player?
Tell me about your past experience working in teams.
Have you ever worked with a difficult group?

Strengths/Weaknesses and Skills

What kind of financial modeling have you done in the past?
Tell us about three of your strengths and three of your weaknesses.
Are you creative? Give me an example.
What is your biggest weakness?
What can you do for us that someone else cannot do?
Name one thing you learned from your previous experience/internship?
Give me an example of one of your successes.
Give me an example of one of your failures.
Have you ever failed at anything?
Describe the accomplishment of which you are most proud.
What has been your greatest challenge?
What makes you different from the other candidates interviewing for this position?
What types of tasks and responsibilities motivates you the most?
What are the attributes of an ideal job for you?
Why should we hire you?
Tell me about a situation where you disappointed your boss and why.

Interpersonal Style/Skills

How competitive are you?
How do you work under pressure?
What types of people seem to rub you the wrong way?
Define cooperation.
In what kind of work environment do you do your best work?
With what kind of people do you like to work?
Describe a team situation you were in where things did not work out for you.
What three adjectives would your: a. peers; b. superiors; c. subordinates use to describe you?
What are your greatest team and personal achievements?
Name three traits you would want to have in a friend and show how you have those too.
Do you consider yourself a risk-taker?

Education

What have you learned at business school that will help you on this job?
Tell me about a project you did.
What activities are you involved in? Do you hold any leadership positions?
What electives have you taken? Which class did you enjoy the most?
Why did you choose Goizueta?
What other B-schools did you apply to and get in?
Do your grades reflect your abilities?
Describe the course that has had the greatest impact on your thinking.
How did you become involved in your extracurricular activities?
If you could make a major policy change at your school, what would it be?
What non-finance and accounting electives have you taken?
What is your favorite class and why?
Describe what you learned in class this morning
What are your undergraduate GPA, GMAT and SAT scores? What are your class-by-class B-school grades?

Job/Company/Industry

What do you know about the industry?
What do you know about us?
Why us?
What do you think you have to offer us?
Why are you pursuing this field?
What skills does Investment Banking require—what in your background shows you can do it?
What do Investment Banks do?
Tell me what you have learned from your previous jobs and how that is going to benefit our firm.
Given that you have no background in this field, why are you interested in it?
What do you predict is going to happen in this industry in the next 5 years?
What do you know about our company?
Do you know who our competitors are?
What interests you most about this position?
What parts of the job do you think you would find least satisfying?
What other types of jobs are you interviewing for and why?
What other investment banks are you interviewing with? If you got offers from all of them, where would you go?
You have 5 minutes to describe the most relevant and specific items in your background that show you are uniquely qualified for this position.
What would you add to our firm?
Where would you like to be in ten years?
What do you like about our company?
Which divisions are you interested in? Do you know what the responsibilities of the position are?
What do you think differentiates our firm from the others?
What do you think you would like least about this job/company/field?
What industry publications do you normally read?
What company in the market do you admire most and why?

Wrap-Up

What would you like me to know about you that is not on your resume?
What would you like your lasting impression to be?
Do you have a final statement?
Do you have any questions you’d like to ask?
What is your favorite quote?
Who’s your idol/mentor?
Tell me a joke.
Sell me this highlighter.
What three things would you want stranded on a desert island?
What’s your personal discount rate?
What do you do for fun?
Suppose everyone has a chip on his shoulder, big or small. What’s yours?
What are you passionate about?
What would cohort mates, other than your study group, say about you?

Company - General

Why would we not have given you an offer at the end of the summer?
You would take an offer from us over them, right?
Would you take an offer from us now on the spot?
What don’t you like about banking?
Would you rather be on the buy-side or sell-side of a transaction?
What about your background will make you a good investment banker?
Of my colleagues who have interviewed you to this point, whom would you hire and why?
How many of your classmates are truly qualified to do this job?
How do you feel about taking orders from a VP or MD who is younger than you?
Tell me about some recent deals that have piqued your interest.
If you were the interviewer, what are the three most important criteria for hiring someone into this position?
How would you deal with an angry client?
Why Banking/ S&T/ AM/ Corp Fin?
Why did you decide to go to Goizueta if you wanted to do IB in NY?
Who else have you spoken to at our bank (or in our division)?
What other banks are you interviewing with?
What books have you read to familiarize yourself with the industry? (e.g. Liars Poker, Monkey Business, Den of Thieves)
What have you done to learn about investment banking?
What kind of skills do investment bankers need?
What product or industry groups are you interested in working with?
How well do you function under pressure?
Why do you want to work on Wall Street?
What qualifications will help you do well at this job?
Are you a smart person?
Who is your best friend? Would you lie for them?
How do you know you will be able to handle the hours required of an investment banker

Company Specific Questions

Why Bank XX?
Compare Bank XX and YY?
What is the market cap, current price, 52-week high and low, and expected EPS and next earnings date for Bank XX?
Name 3 major news items related to Bank XX in the last 2 months.
What is Bank XX known for?
Who are Bank XX’s competitors?
What is the structure of Bank XX?
Who is the CEO of Bank XX? What is his background? What would you ask him?

Interview Reminders

Go in on fire. Impressions are made in the first few minutes. Be energetic. The energy in the conversation must come from you. Sell yourself.
SMILE
Know the 4-5 points you want to make and work them into your answers.
Remember, you need someone to stand up and say “We should hire this person.”
Be prepared. Do your research, practice interviewing and know the questions you are going to be asked.
Do not be over confident. Interviewers delight in crushing overconfident candidates.
Know your weakness and be prepared to explain them.
Be clear and concise. Bankers are conducting the interviews.
Be confident
Keep your cool. They are probing and testing you.
Practice out loud. What sounds good in your head may not sound good out loud.
Be prepared for different types of valuation questions (i.e., how to value public/non-public companies; all equity companies; companies w/no earnings; companies w/no history; know the various valuation techniques by industry, etc.)
Know all the commonly discussed formulas, when to use them and why (i.e. CAPM, beta, P/E, DCF, WACC, etc.)
Be comfortable discussing macroeconomics as it relates to current events.

II. TECHNICAL QUESTIONS