02/07/2015

INVESTMENTBANKINGPRACTICEINTERVIEW

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APPLICATIONS&
INTERVIEWS

INVESTMENTBANKING
PRACTICEINTERVIEW

PRACTICEINTERVIEWS
>MultipleChoice

>GeneralInterview
>Accountancy
>RetailBanking
>InvestmentBanking
>Computing
>Law
>Marketing
>RetailManagement
>Science
>Journalism
>Personnel&HR
>CivilService
>TeacherTraining
>PostgraduateStudy
Answersto150interview
questions

Tryapracticeinterviewforinvestmentbanking,answering
typicalquestionsandalsogettingtipsonhowyoushould
answer.Therearealsootherquestionsstudentshavebeen
askedatbankinginterviews.Itdiffersfromretailbankingis
alsoknowashighstreetbankingwhichislargelyabout
managingcustomersaccounts,sellingloansandmortgages
etc.:seeourseparateinterviewonthis
INVESTMENTBANKERSneedtobe
NUMERATEandgoodatANALYSING
INFORMATIONinordertoresearchthe
marketandcarryoutfinancialmodeling.
ThisinformationisthenusedinMAKING
DECISIONSandpresentinginformation
toclients,whichrequiresSELFCONFIDENCEandgood
COMMUNICATIONskills.GoodTIMEMANAGEMENT,in
particularWORKINGUNDERPRESSUREandMEETING
DEADLINESisessentialinthishighpressureworking
environment.Employerswillexpectyoutobeabletotalk
aboutanddemonstratetheseskillsatahighlevel
throughouttherecruitmentprocess.Thesortofevidence
youcouldofferincludes:

Answeringcompetency
basedquestions
http://www.kent.ac.uk/careers/interviews/InvBanking.htm

LEADERSHIP:chairpersonofastudentsociety
SPOKENCOMMUNICATION:debatingsociety
NUMERACY:workexperienceinafinancial
environment
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MAKINGDECISIONS:planningagapyearand
adaptingyourplansinchangingcircumstances
TIMEMANAGEMENT:achievingstrongacademic
resultswhilebeinginvolvedinotherUniversity
activitiesatahighlevel.

INTERVIEWQUESTIONS:
>Placements/Internships
>Advertising
>Sales
>Actuarial
>ManagementConsultancy
>CaseInterviews
>MedicalSchool
HOME
CHOOSINGACAREER
EMPLOYABILITYSKILLS
PRACTICEAPTITUDE
TESTS

Beforeyouarrive...
Beforeyourinterviewmakesurethatyouarewell
informedaboutthecompany,thebankingindustry,
thefinancialmarketsandthebusinessworld
generally.YouwillbeexpectedtoknowwheretheFTSE
andDowJonesindexesareandhavebeen,whereLIBOR
andFedratesareandtobeuptospeedoncurrent
financialandbusinessissues.ReadtheFinancialTimes
dailyandregister(forfree)atwww.ft.comtogetemail
updates.Seealsothelinksbelow,thelinksfromour
bankingcareerspage
www.kent.ac.uk/careers/sitebank.htmandourInterview
Reportsforbankinginterviews.
Youarelikelytogetverbalandnumericalreasoning
tests:seewww.kent.ac.uk/careers/psychotests.htmfor
examples.
Therefollowsomeofthequestionsthatmightbe
specificallyaskedofstudentsatinterviewsforinvestment
bankingjobs.Generalinterviewquestionsarenotasked
here,soyoumightalsoliketotrythegeneralormultiple
choiceinterviewsaswellforstandardinterviewquestions
thatcanbethrownatanycandidate.Clickon"First
Question"tobegin.Thinkcarefullyabouthowyouwould
answer,thenclickon"ShowAnswerTips"togetanideaof
howyoushouldbeanswering.

FirstQuestion

ShowAnswerTips

PreviousQuestion

Otherquestionsstudentshave
beenaskedatbankinginterviews
Ifyouhavebeentoanintervieworassessment
centrerecentlypleasefillinourinterviewreport
formtohelpotherstudents.
Aboutyourstudy,workexperienceandskills
http://www.kent.ac.uk/careers/interviews/InvBanking.htm

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TalkmethroughyourCV(GoldmanSachs)
Mostofthequestionsaskedwerebasedonthe
CurriculumVitaethatyousubmittothem.(United
BankforAfrica)
Whatdidyoustudy?Tellmeaboutyourcourse.
(Citibank)
WhydidyouchooseyourAlevels?(MorganStanley)
Tellusaboutyourdegreecourseandwhyyouchose
it?(Citibank)
Tellmeaboutaboutyourworkexperience.(Citibank)
Howcanyourelateyourstudiesandexperienceto
yourworkwithus?(Citibank)
Questionsrelatingtosocialandextracurricular
activitiesduringmydegree(Citibank)
Tellmeaboutyourinterestsandthelevelofsportsat
whichyouplay.(Citibank)
Howcanyourelateyourstudiesandexperienceto
yourworkinCitibank.
Whyshouldwehireyouandnotanyoneelse.
(Citibank)
Wheredoyouseeyourselfin25years?(Morgan
Stanley)
Wheredoyouseeyourselfinthefuture?(Goldman
Sachs)
Whatisyourambitioncareerwise?(Fidelity
Investments)
Competencyquestions.SeeourpageonHowto
AnswerCompetencybasedQuestions
Tellmeaboutatimewhereyouhavemanagedrisk
(GoldmanSachs)
Giveanexampleofamistakeyoumade/whatdidyou
doaboutit?(FidelityInvestments)
Tellusofatimewhenyou'vefailedatsomething.(J.P.
Morgan)
Haveyouevermadeamistake?Tellusaboutit.(J.P.
Morgan)
Giveanexampleofwhenyouworkedunderpressure.
(KBCFinancialMarkets)
Describeatimeatworkwhenyoucopedwitha
problem(KBCFinancialMarkets)
Whatisthemostdifficultdecisionyou'vehadto
make?
Howdoyouprioritiseyourworkatthemoment?
(FidelityInvestments,Citibank)
What'smoreimportantdeadlinesorqualityofwork?
(GoldmanSachs)
Giveanexampleofwhereyouhavehadtoprocess
information
Giveanexampleofwhereyouhavehadtoworkwith
people/customers
Giveanexampleofwhenyouhavetakeninitiative.
(J.P.Morgan)
Describeatimewhenyoucommunicatedeffectively.
(BarclaysCapital)
Tellmeaboutatimewhereyouhaveshown
leadership(GoldmanSachs,BarclaysCapital)
Giveanexampleofwhereyouhavehadtomotivate
others.
Whatopportunitieshaveyouhadtoworkinateam
andwhatwouldyousayyourrolewas?(Barclays
Capital)
Giveanexampleofwhenyouworkedinateam.(KBC
FinancialMarkets)
Giveusanexampletoshowyou'reateam
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player.(J.P.Morgan)
TechnicalskillsoncomputerespeciallyExcel.(KBC
FinancialMarkets)
Tellmeaboutyourstrengthsandweaknesses.(J.P.
Morgan)
Whatwouldyoufriendssayisyourstrongestpoint?
(MorganStanley)
Whatkeyskillscouldyoubringtous?(Goldman
Sachs,MorganStanley)
CommercialAwarenessQuestions.Seeourpage
onHowtoanswerCommercialAwareness
Questions
Whatdidyouthinkofourpresentation/whatdidyou
learn?(FidelityInvestments)
Whatskillsdoyouthinkwerelookingfor?(Fidelity
Investments)
Whatdoyouknowaboutus?(MorganStanley,KBC
FinancialMarkets,Citibank)
Whydoyouwanttoworkforus?(J.P.Morgan,
GoldmanSachs,Citibank)
Whatattractedyoutous?(MorganStanleyand
GoldmanSachs)
WhyGoldmanoverotherbanks?(GoldmanSachs)
WhatcanyoutellmeaboutGoldmanSachs?
(GoldmanSachs)
Tellmewhatyouknowabouttheinvestmentbanking
industry.(MorganStanley)
Whydoyouwanttoworkininvestmentbanking?(J.P.
Morgan,GoldmanSachs)
Whatisthemainfunctionofaninvestmentbank?
(MorganStanley)
Whydoyouwantthisparticularjob?(Citibank)
WhyhaveyouappliedtoGlobalCreditRisk
Managementratherthantrading?(J.P.Morgan)
Howmuchofanimpactdoyouthinkthisjobhason
thecompanyasawhole?(FidelityInvestments)
Whatdidyoulearnaboutthedifferentroles?(Fidelity
Investments)
WheredoesGoldmanmakemostofitsprofits?
(GoldmanSachs)
Whatwouldyousayisthemostimportantaspectof
ourworkculture?(MorganStanley)
WhatdoestheOperationsandFinancedivisiondo?
Whoareourclients?(MorganStanley)
Whyoperations?(GoldmanSachs)
Whatdoyouknowaboutoperations?(GoldmanSachs)
Whatdoesoperationsdo?(GoldmanSachs)
Whatskillsarerequiredforoperations?(Goldman
Sachs)
Whyisoperationsimportant?(GoldmanSachs)
Whataretheproblemsfacingkeyoperationsworkers?
(GoldmanSachs)
Howdoyouthinktheeconomiccrisiswilleffect
Operations?(GoldmanSachs)
Whatkindoftasksdoyouthinkyouwouldbeworking
oninoperations?(GoldmanSachs)
Whatarethecorecompetenciesneededfor
operations?(GoldmanSachs)
WhyhaveyouappliedtoGCRMratherthan
trading?(J.P.Morgan)
Technicalquestionsre.financeandequitymarkets.
(KBCFinancialMarkets)
Knowledgeoffinancialmarkets,currentdevelopments
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infinanceworld.(KBCFinancialMarkets)
Whatdoyouknowaboutthefinancialcrisis?(Goldman
Sachs)
Giventherecenteconomiccrisis,bankshavebeen
givenalotofbadpress,doyouthinkit'sallourfault?
(GoldmanSachs)
DoyouagreewithObama'sviewsaboutseparating
banksduties?(personalandinvestment?(Goldman
Sachs)
Whatarethedifferencesbetweenequitiesandbonds?
(Bloomberg)
Whatisthecurrentpriceofabarrelofoil?
(Bloomberg)
Hypotheticalquestions.Seeoursectiononthis
Ifyouhadaverylargeassignmenthowwouldyou
structureyourtimetomakesureyoumetthefinal
deadline?(J.P.Morgan)
IfItoldyoualistof7thingstodoandwalkedoff,
whatwouldyoudo?Ifyoucouldn'tfinishallofthem
bytheendoftheday,whatwouldyoudo?(Morgan
Stanley)
Ifyouhadaverylargeassignmenthowwouldyou
structureyourtimetomakesureyoumetthefinal
deadline?(J.P.Morgan)
MARKETSIZINGquestions
Theseevaluateyourtemperamentandanalytical
skillsandareoftenusedinCASESTUDYinterviewsby
consultancyandbankingfirms.Theytestyourlogical,
analytical,numericalandproblemsolvingskills.Alotofthe
skillinansweringthesequestionsinvolvedmaking
reasonedestimatesofthemarketsize.
HowmanywomensellAVONproductsintheUK?
(McKinsey)
HowmanyphotocopiesaretakenintheUKeachyear?
(McKinsey)
HowmanypianotunersarethereintheUK?(A
brainteasertheywantyoutologicallyarriveata
guestimatee.g.10,000,000householdsintheUK,1in
5haveapianoetc.)(LEK)
GivetheweightofafullyloadedJumboJetattakeoff.
(LEK)
HowmanylightbulbsarethereinLondon?(J.P.
Morgan)
Howmanydegreesaretherebetweenclockhandsat
3.15?(J.P.Morgan)
ForhelpwithansweringtheseseeourpageonCASE
interviews

Psychometrictests
Mostinvestmentbanksgiveyoudemandingnumeracytests
aspartoftheirselectionprocedure.Thenearestonline
practicetestsforthesearethoseontheefinancialcareers
siteat
http://students.efinancialcareers.co.uk/numerical_test.htm
OurSecondPracticeNumericalReasoningTestisalsoquite
similarbutyouwouldprobablyneedtobescoringatleast
19ortwentyonthistohaveagoodchanceofpassingthe
realinvestmentbanktests.
Numerical20minutesfor20questions.Finding
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percentageincreasesanddecreases,compound
interestquestions.Verbal15minutesfor30questions.
Typical'True''False'or'CannotSay'questions
(BarclaysCapital)
NumericalandverbalbothinthefirstroundNo
calculatorswereallowed.Eachlastfor30mins.
TypicalquestionssuchasthoseontheSHLwebsite,
ratios,percentagechanges.Verbalwas
true/false/cannotsaytypequestions.(Goldman
Sachs)
Numericalandverbal.20minseach.Numericalwas
datainterpretation.(GoldmanSachs)
Verbalandnumerical(nocalculatorwasallowed!)30
minseach.Sametypeofquestionsasthestandard
SHLtest.Practicenumericaltestswithouta
calculator.(J.P.Morgan)
Verbalreasoning:shorttextshadtosaywhether
statementsweretrue,falseornotpossibletoanswer.
Proofreading:hadtocompare2versionsoftexts
lookformistakes,describewhatkindsofmistakes
theywere.German:shortconversationwithnative
speaker.(FidelityInvestments)
Numerical,verbalandcurrentaffairs.Thiswasdone
priortotheinterviewdate.Don'ttakemental
arithmeticforgranted.(UnitedBankforAfrica)

Othercomponents

Nopresentation,justashortintroductionofourselves
torestofgroup.Wegotshownaroundtheoffices,saw
thepeopleatwork,theytoldusaboutthejob.We
gotplentyoftea/coffeeandbiscuitsaswellasahuge
lunch.(FidelityInvestments)
Presentationtotwointerviewers.Preparedforthe
presentationindividuallyandpresenteditto
interviewers.(BarclaysCapital)
Weindividuallypreparedforthegroupexerciseand
thenbroughtourcontributionsintoagroupdiscussion.
(BarclaysCapital)
GroupExercises.Wehadtoprioritiseimportanceof
certainitemsafterapretendplanecrashinthedesert,
whereweweretheonlysurvivors,firstlyas
individuals,thenwehadtodoitasagroup.(Fidelity
Investments)

TipsfromKentgraduates

Thoroughlyresearchthecompanyandbepreparedfor
themtodelveverydeeplyintotheanswersyou've
giveninyourinitialapplication.
Veryimpressed.Excellentoffices,veryintelligentand
friendlypeople.(J.P.Morgan)
Verywelcomingatmosphere,fastpaced,and
everythingyouneedisunderoneroof24hr.food
drycleanershairdressersgymetc.(MorganStanley)
Don'tpanic.Beyourself.Dothoroughpreparation
beforeyourinterview.Thereisapositivecorrelation
betweenpreparationbeforeyourinterviewandyour
chancesofsecuringajob.Thereisalotofinformation
ontheUniversity'sCareerswebsite.Makeuseofthis
information.(BarclaysCapital)
Theresnotreallyanywaytoprepareforitjust
makesureyoulistentothepresentationscarefully,
butyoudontneedtoremembereverything.Thefirst
thingtheyaskeveryoneiswhatdoyouknowabout
Fidelity?Itsagoodideatomakesureyoucan

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answerconfidently.(FidelityInvestments)
Youhavetobereadyforsimplyanyquestionrelating
toyourCVandcareer.(Citigroup)
Theinterviewerswerelookingforaloopholeinyour
CVsoI'dadvisethatyouknowyourCVverywell.
Don'tputinyourCVwhatyoucannotdefendonthe
table.
Preparelotsofcompetencyanswers.Brushupon
commercialawarenessasquestionscanbevery
technicalandhardifyoudon'tknowwhatyou're
talkingabout.(KBCFinancialMarkets)
Berelaxed.KnowyourCVandexperienceswell
enoughtotalkaboutthem.KnowGoldmanSachsi.e.
culture,departments,recentknows.Haveafew
questionstoaskshowyourinterestandresearch.
Verypositiveimpression.Keepuptodatewithgeneral
news.Rememberyouarebeinginterviewedassoon
asyoustepinthebuilding.(GoldmanSachs)
Relax!KnowyourCVwell!Knowaboutyourrolei.e.
skillsrequired.KnowaboutGoldmanSachsi.e.what
theydoetc.(GoldmanSachs)
KnowGoldmaninsideouttheirwebsite,what
businessareastheyworkin.Beabletotalkabout
everyaspectofyourCVandcoverletterandhavea
lotofexamplestogive.(GoldmanSachs)
Thoroughlyresearchthecompanyandbepreparedfor
themtodelveverydeeplyintotheanswersyou\'ve
giveninyourinitialapplication.(J.P.Morgan)

Comments

Theinterviewerswerereallyniceandthishelpsoneto
relax.Ienjoyedtheentireinterviewexperiencea
wellstructuredAssessmentCentre.(BarclaysCapital)
Itsaveryrelaxedlaidbackatmosphereandallthe
peoplearereallynice.Theydontaskyoutodo
anythingscaryandyourperformanceisjudgedasfar
asallthedifferentexercisesareconcerned.Itwas
actuallyveryenjoyableandagoodexperience.
(FidelityInvestments)
Alwaysshowconfidenceinyourselfwhetheryoufeel
you'llgetthejobornotbecausetherearesome
interviewerswhowouldtrytobringdownyourmorale.
(UnitedBankforAfrica)
Nicecompanynotveryformal,peoplewerevery
friendly.(KBCFinancialMarkets)
Veryimpressed.Excellentoffices,veryintelligentand
friendlypeople.(J.P.Morgan)

Morequestions(fromefinancial
careershttp://bit.ly/hnDKKS)
Citigroup:Globalmarkets(internposition)
WhatisCiti'sbestareaintermsofitsGlobalMarkets
business?
WhoisCiti'sCEO?
Whatis21x19?
BarclaysCapital:Sales(internship)
Whathastheeuro/poundexchangeratedoneinthe
last6monthsandthenwhathasitdoneinthelast
year?
Howdoinsurancecompaniesviewbonds?
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WhatdoyouthinkwillhappentoIreland?
BarclaysWealth:Wealthmanagement(graduate
programme)
Couldyoupleasementionsomeofthechallengesthat
theprivatebankingworldiscurrentlyfacing?
Whatareyourdevelopingareasbothprofesionnaly
andpersonally?
WhatdifferentiatesBarclaysWealthfromits
competitors?
Whatdoprivatebankersdo?
WhatdoyouknowaboutBarclaysWealth?
Speakaboutatimewhenyoufacedachallenging
experience.Whatdidyoudotoovercomeit?What
wastheresult?
Whatsetofskillsdoesaprivatebankerneed?
GoldmanSachs:
Equityderivativesmarketing(offcycleinternship)
WhatisdifferentaboutGoldmanSachs?
Whyareyouinterestedinderivatives?
Whatdoyouthinkaboutourderivativeswebsite?
WhichFinancialMediadoyoufollow?
Whatismovingthemarketsinthemoment?
Whichstructuredproductwouldyouissueinthe
currentmarketconditions?
Globalinvestmentresearch(graduateprogramme)
Whyareyoubetterthanothercandidatesatpicking
stocks?
IfIgaveyou10millioneuro,wouldyoueitherbuya
5starhotelinthecentreofParisor5cheapmotels
alongtheringroad?
Whatisyourtoppick?
JPMorgan:Risk(graduateposition)
Givemeanexampleofapersonyouthinkhas
integrityandexplainwhy.
Givemeanexampleofapersonyouthinkiscredible
andexplainwhy.
Whydoyouwanttoworkinriskwithinaninvestment
bankandnotacorporatebank,aninsurancecompany
etc.?
What's1/16?
Drawmeacalloption.
What'stheanglebetweenthehourandminutehands
whenit's3.15pm?
HowwouldyoupersuadeaGermanpensionertosave
Spain?
Lazard:Investmentbanking(graduateposition)
WhyLazard?
Explainthefinancialcrisis
Canyoutellmeaboutatimewhenyouhada
disappointingresult?
Pleasedescribesomemethodsofvaluation?
Whatwillcauseavaluationtoincrease?
WhatmotivatesM&Aactivity?
Canyoudiscussarecentnewsstory...
UBS:Equitiessalesandtrading(summer
internship)
Whenhaveyoushownleadership?
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Whatis2.2^2?
Talktomeaboutyourportfolioofshares.Whenare
yougoingtosellsharex?
Therearetenbottlesofpills.9havegoodpillsin
them,weighing10geachand1bottlehasbadpills
weighing9geach.
Forargumentssakethereareaninfinitenumberof
pillsineachbottle.Youalsohaveasetofelectric
weighingscalesandyouareonlyallowedone'weigh'
Howdoyoufindoutwhichbottlehasthebadpillsin?
(Youhavetohaveonecombinationofpillstofindthe
answer,soyoucan'tputabunchonthescalesand
thenkeeptakingthemoffonebyonetofindtheright
answer)

LINKS

WikiJob.co.ukwww.wikijob.co.uk/wiki/Main_Page
providesstudentsandgraduateswithkeyinformation
aboutrecruitmentprocessesatinvestmentbanksand
otherCityandfinancialemployers.
InvestmentBankingJobInterviews:Tipsfor
successandsampleinterviewquestions
www.blueskyinterviews.co.uk/int_art18.htm
TheStudentRoom:discussionforumoninvestment
banksinterviewquestions
www.thestudentroom.co.uk/showthread.php?
t=262620
TopBankingInterviewQuestionsfromOriginHR
Readexamplesofthesortofquestionsinvestment
banksaskatinterview,donatedbycandidates
who'vealreadybeenthroughtheprocessandsee
howtheyansweredthem.http://tinyurl.com/cvtgb2o
InvestmentBankingInterviewResourcesfromi
BankingBlog:
http://ibankingblog.com/investmentbanking
interviewresources
AdviceoninterviewsfromLancasterUniversity
InternationalInvestmentSociety
www.luiis.co.uk/careeradvice.interviews.php
InvestmentBankingCapitalMarketsClub

BacktothepracticeinterviewsmenuorAnswersto
150commoninterviewquestions

Careershome
page
Employability
skills
Workexperience
Choosinga
career

Whatcareerwould
suitme?
Postgraduate
WhatcanIdowith
mydegree
Iwanttoworkin....

International
Students
Careerseventson
campus
Applications&
interviews
ExampleCVs

Practiceinterviews
Aptitudetests
Vacancies
Universityhome
page

ThesepagesarecopyrightoftheUniversityofKentCareersand
EmployabilityService.
Theinformationandadvicegiveninthesepagesisprimarilyforthebenefitof
UniversityofKentstudentsandgraduates.
Youaremostwelcometolinktothesepagesbutshouldnotusecontentin
http://www.kent.ac.uk/careers/interviews/InvBanking.htm

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otherwayswithoutourpermission.
PagemaintainedbyBruceWoodcockB.E.Woodcock@kent.ac.ukPleaseemailmeifyou
wishtomakeanysuggestionswhichwouldimproveourservices.

http://www.kent.ac.uk/careers/interviews/InvBanking.htm

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