You need to make the most of your investment banking interview which (hopefully) you have obtained through your successful networking.
The first interview is generally a “fit” interview. This involves meeting two people from the firm which lasts 30 minutes. It is important to be aware that technical questions about the industry may be posed. They primary things that the interviewers are testing for include personality, how easy you are to talk to, and generally how you conduct yourself during the interview.
Second rounds generally involve meeting more people, and this can be three or four from the company. Technical questions are very likely at this stage. Again, personality is important because the interviewers will consider both your technical capability as well as your “fit”. Given that there will be a lot of interaction – up to 80 or 90 hours a week, the interviewers would like to ensure that the working relationship, both ways, will be pleasant.
Success at the second interview will generally result in an offer. It should be stressed that to succeed, your personality should shine through. It is advisable to bring up personal anecdotes after a clear statement which addresses the interviewer’s question. You need to engage with the interviewer. Building up a rapport is very helpful, because if the interviewer likes you, he/she is more likely to hire you. Being positive and radiating a warm and helpful personality is therefore important.
Intense preparation for the interview is paramount for success. There is a plethora of books relating to the investment banking interview. Study them. Be completely aware of all the standard questions and acceptable responses to each. Study cards can be very helpful. Use them. Know each card inside-out, backward & forward. You should be able to recite the answers before your go to sleep and first thing in the morning. You want to be in this industry; therefore preparation cannot be understated.
To sum up, it is important to focus on three things for an investment banking interview.
Firstly, preparation – the technical aspects are important. They do impress. Preparation will be the key to your success not only for the interview but also on the job.
Secondly, be personable. Being genuine counts for a lot. The interviewers are sharp, they can tell if you are fake.
Finally, a positive mindset will do wonders. Who wants to work with a negative person during the long work day?
Erin Parker is the brilliant and successful author of this article, read more of Erin’s advice and other investment banking experts at Guide To An IBanking Internship. About the author – Erin Parker is an economics student at Stanford University. She has had three investment banking internships spanning UBS (private wealth management), FT Partners (financial technology coverage), and J.P. Morgan in New York (syndicated and leveraged finance).