3 Tips For Students For A Career In Investment Banking | Internship Interview Format

An Investment Banking Career has its own format of investment banking interview questions. It does vary from firm to firm, but generally, it is a combination of behavioral, technical and case study questions. Network, question, talk to people and bag an internship before deciding on this career path. Smart and tricky questions at the interview are expected to be asked by the interviewer. Tap into various guides, journals and keep up with market news. All these tips and tricks will help a student ace his interview.

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Investment Banking Internship Interview Format

Broadly, there are four interviews comprising of behavioural and technical aspects. There is generally one based on case study also.

The first interview is generally behavioural and focussed on the aspirants’ experiences.
The second one is based on the case study. Candidates will be questioned on a case study.
The third one is purely technical with the intent to see and judge your capabilities and the value addition you will bring to the Company. For example, your knowledge of equity markets and upcoming IPO’s may be tested.
The final interview will also be behavioural. It will be held to gauge your knowledge and leadership qualities and team qualities.

3 Tips for students Seeking a Career in Investment Banking

Talk to and question many people and satisfy yourself if this career is ideal for you. Identify if this is really what you want. A sketchy knowledge about equities and trades means this career is not for you.
Pick the phone, have coffee meetings and network with people in different companies and try to understand how they reached there.
Try to get an internship at any good Investment Banking company. The internship will give you time and a chance to gauge if you are fit for this role and can handle it well. Research the job role and its demands thoroughly before you arrive at a decision.

Questions to ask at an Investment Banking Interview

It is better to know what not to ask the interviewer:

Do not ask the interviewer what his job as an Investment Banker entails and about his day to day routine activities as such.
Do not ask how they handle their personal life in view of the long hours they have to put in.
Avoid discussing pay.

Instead to set the right tone and project yourself in a competent manner follow these broad tips:

Focus on the company, company values and culture, the teams and how they work in tandem, etc. Show a genuine interest in the company dynamics.
With some skilful questioning, you can decipher exactly what your role is going to be and what will be expected of you. It will also give you an insight into the other key players in the company.
Ask and discuss any recent news about the company. It will show you as interested, having done your research and distinguish you from the crowd.

How to Keep Abreast of the Development in Industrial Banking Industry

Resources like the Wall Street Journal will keep your finance knowledge intact.
Deal book and Pitchbook will keep you up to date with buy and sell side deals.
Read the New York Times regularly to stay abreast of world and business news.
Read up on Wall Street mergers and acquisitions from guides and books on the Wall Street Oasis. This will heighten your awareness about the industry giants and their workings.

These are some tools which will help you brush up on your fundamentals and technical knowledge. These are useful resources for an aspiring or existing Investment Banker to have and use.