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Investment Banking Interview Preparation
 
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This is an overview of what to expect in a first round investment banking interview.
Views: 160841 Paul Pignataro
Mock Interview Question: Why Investment Banking?
 
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In this video, Joshua Rosenbaum and Joshua Pearl, authors of the highly acclaimed and authoritative textbook, Investment Banking, walk you through some common behavioral questions asked during the investment banking interview process, specifically, "Why are you interested in investment banking"? You can access more investment banking mock interview and training videos at https://www.efficientlearning.com/investment-banking/resources/mock-interview/
Views: 109122 Wiley Finance
Investment Banking “Fit” Questions: Quick Prep
 
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In this tutorial, you’ll learn how to prepare for “fit” questions in investment banking interviews efficiently and how to use the “Rule of 3” to develop short anecdotes and responses that you can re-use to answer the most common questions. http://breakingintowallstreet.com/ "Financial Modeling Training And Career Resources For Aspiring Investment Bankers" Table of Contents: 3:57 Your 3 “Short Stories” 6:22 Your 3 Strengths and 3 Weaknesses 8:36 Your Top 3 Real Weaknesses 12:59 Recap and Summary Lesson Outline: The WORST way to approach “fit” questions is to memorize dozens or hundreds of questions and answers. Instead, you should develop a few stories that you can use and re-use for the most common qualitative questions. Your 3 “Short Stories” should include a Success Story, a Failure Story, and a Leadership Story that demonstrate the qualities bankers are looking for: Analytical skills, ability to work in a team, ability to work long hours, attention to detail, communication skills, and a demonstrated interest in finance. For example, you could discuss an internship where you made several corporate finance processes more efficient, a Treasury internship where you worked with other departments to help the company avoid breaching a Debt covenant, and a math tutoring business you started but ultimately had to shut down. Your 3 Strengths should be easy because you already know the qualities bankers are seeking. Your 3 Weaknesses are tougher because they must be real, but not too real, they can’t be overly personal, and they must be things you could conceivably fix (e.g., don’t say you’re “too short”). You could say that you take too long to make decisions or second-guess yourself, that you’re not always good about speaking up, or that you don’t always follow up on tasks and assignments. For your 3 “Real Weaknesses,” compare yourself to the *ideal* candidate for IB roles (Ivy League school, perfect grades and test scores, accounting/finance major, multiple languages, multiple finance internships, sports, study abroad, and international recognition in some area), and assess how you’re different. Maybe you went to a non-target school or you have low grades; maybe you don’t have much finance experience or you became interested in banking too late; or maybe you haven’t taken any accounting or finance classes. Find your top 3 weaknesses and develop ways to address them. For example, you could say that your family couldn’t afford an Ivy League school or that you attended your university because of a generous scholarship. Or you could explain that you’ve been moving in the direction of finance ever since you became interested in it, despite a late start that precluded you from winning internships. Or you could point to self-study, the CFA, or other courses to explain your accounting/finance skills and how you’ve learned the requirements independently. RESOURCES: https://youtube-breakingintowallstreet-com.s3.amazonaws.com/Investment-Banking-Fit-Questions.pdf
My 12 Interview Secrets at Goldman Sachs - Questions & Answers!
 
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My 12 Interview Secrets at Goldman Sachs - Questions & Answers! | WORKLIFE TV. By Former Goldman Sachs employee Sunil Kaushal. Here are my 12 top tips, the questions & answers, techniques and advice to on how to get through the Goldman Sachs interview process. Get your application right! Be the best candidate! If you want to know how to get into investment banking and the best bank in the world watch these 12 top tips. SUBSCRIBE to WORKLIFE TV and never miss our DAILY video! Worklife TV is here to move your career and life forward every single day. Follow us on social media for more daily tips on career and life: Instagram: @worklifetv Facebook: @worklifetv Snapchat: @worklifetv Twitter: @worklifetv GET YOUR QUESTION ANSWERED! If you would like your question answered on Worklife TV we’re taking questions on Instagram @worklifetv BE AN EXPERT GUEST If you would like to be an expert guest on Worklife TV e-mail Sunil Kaushal directly at [email protected] FOLLOW SUNIL KAUSHAL Founder of Worklife TV Instagram: @Sunilkaushal_ Snapchat: @sunil.kaushal Twitter: @SunilKOnline LinkedIn: @Sunil Kaushal DOUBLE YOUR HOLIDAY MONEY - 8 TIPS to SAVE MONEY! https://youtu.be/OrYlC9IAmhQ IF JAKE PAUL GOT A REAL JOB! 5 Mistakes to avoid! https://youtu.be/DG32YgwDVkU How Drake Made the Best Career Move Ever! 5 FACTS https://youtu.be/VpwRoHF7CXY COFFEE OR COCAINE? 6 Facts about Coffee You Probably didn't Know! https://youtu.be/Ge9tHeAu4YE I QUIT! The Day I QUIT my JOB to Start a New Journey. https://youtu.be/oIbIFswES6Q What NOT to do in an Interview - 6 FUNNY MYTHS! (Tips & Advice) https://youtu.be/X-HCtka-Uz0 My 12 Interview Secrets at Goldman Sachs - Questions & Answers! https://youtu.be/Hor948sKSoY Feedback like HOT CURRY! Stay chilled in your Performance Review Meeting (TIPS) | WORKLIFE TV https://youtu.be/Oog0tSoPm2U Your Performance Review in 85 EMOJIS! In 6 Minutes! (Meeting Tips) | WORKLIFE TV https://youtu.be/AQUxliwuPoo The 'KISS MY ASS LIST' We all have and Who is Sunil K? (Quit Job Like a Boss) | WORKLIFE TV https://youtu.be/GsPSekVCTZg Internal Job Interview Tips & Application, Questions, Answers, Techniques! | WORKLIFE TV https://youtu.be/-o67MJADOL4 How to Focus on Presence (Tips & Advice) | WORKLIFE TV https://youtu.be/KWYLBG0yT80 KEY DELEGATION QUESTIONS YOU NEED TO ASK! (TIPS!) | WORKLIFE TV https://youtu.be/6PQMxryPX7o HOW TO TRACK YOUR TEAMS' PROGRESS (TIPS!) | WORKLIFE TV https://youtu.be/feCMF933Vvw RESPONSIBILITY, AUTHORITY AND ACCOUNTABILITY - TEAM ROLES & RESPONSIBILITIES (TIPS & ADVICE) https://youtu.be/z78nK9bFtj0 THE SURPRISING IMPACT OF SAYING THANK YOU WHEN DELEGATING (TIPS!) | WORKLIFE TV https://youtu.be/UtWNxAitSl0 DOING EVERYTHING YOURSELF? IT COULD BE 'SELF ENHANCEMENT' (TIPS!) | WORKLIFE TV https://youtu.be/P-viU_9JwSQ HOW TO PICK YOUR TEAM & BEST PLAYERS! (TIPS) | WORKLIFE TV https://youtu.be/2UtOyKHSw8Q HOW TO GET A WIN-WIN - DELEGATING IN A NEW JOB (TIPS!) | WORKLIFE TV https://youtu.be/kHUIxAYETZU HOW TO HAVE CHARISMA & PRESENCE IN A NEW JOB! (TIPS!) | WORKLIFE TV https://youtu.be/bERrYXZzNSg TOP 5 TRAPS When you Start a New Job! Tips & Advice | WORKLIFE TV https://youtu.be/CsMbVlxcad8 Survive Your First 90 Days in a New Job - (Tips & Advice) | WORKLIFE TV https://youtu.be/9FO9F8d8Z3c GOOD LEARNING & BAD LEARNING - NEW JOB TRAPS! (TIPS!) | WORKLIFE TV https://youtu.be/Jr7Hx6UT2Dw THINK YOU ALREADY HAVE THE ANSWERS? NEW JOB TRAPS! (TIPS!) | WORKLIFE TV https://youtu.be/3H5RClKwbSc ARE YOU DOING TOO MUCH TOO SOON? NEW JOB TRAPS! (TIPS!) | WORKLIFE TV https://youtu.be/Vq748dJJlIs HOW TO GET MOMENTUM - Starting a New Job (TIPS) | WORKLIFE TV https://youtu.be/Z39mLIdaiG0 HOW THE VIRTUOUS CYCLE GIVES YOU MOMENTUM IN A NEW JOB. (TIPS!) | WORKLIFE TV https://youtu.be/cMX6XDTxb0c WHY CONSISTENCY MATTERS IN A NEW JOB (TIPS & MOTIVATION) | WORKLIFE TV https://youtu.be/BxGmPh36m6o SEEING YOURSELF IN YOUR DREAMS? (TIPS!) | WORKLIFE TV https://youtu.be/wtykq9kC0WI Why you Choose your Own Goals and Excuses (Tips & Advice) | WORKLIFE TV https://youtu.be/221E5_8Yczw YOU'RE STOPPING YOURSELF MOVING FORWARDS! WHY? https://youtu.be/M4FrBU41IXY THIS IS YOUR SHOW! FOR EVERY CITY, EVERY SECTOR and people from EVERY WALK OF LIFE https://youtu.be/lUwAsf6C9_4 WHY YOUR PAST IS NOT YOUR FUTURE! My Story. https://youtu.be/q-rC6Wy2vyA WHY YOUR STORY IS BETTER THAN YOU THINK https://youtu.be/_DrXuK4MfV4 THE CAREER AND LIFE YOU ONCE IMAGINED? FIND YOUR FULL DREAM https://youtu.be/qKrRcN0k5cA
Views: 30076 Worklife TV
50 Investment Banking Interview Questions
 
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http://insideinvestmentbanking.com - Learn How To Break Into Investment Banking If you are looking to launch a career in investment banking visit Inside Investment Banking now. Created by 5 bankers it is your one-stop shop for advice on how to get into investment banking. About this Video: This is a quick look at the most common investment banking interview questions you could get asked this recruiting season.
Views: 29515 BreakIntoBanking
Investment Banking Interview Questions - Top 50 Revealed
 
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http://insideinvestmentbanking.com - Learn How To Break Into Investment Banking About this Video: This is a quick look at the top 50 interview questions bankers like to ask. It also serves as a checklist for you to see if you are prepared for your upcoming IB interviews. The list of questions... Tell me about yourself Why do you want to do investment banking? Why not Sales & Trading or management consulting or law? Are you interviewing with any other banks or do you have offers? Would you accept an offer if I gave it to you right now? What's your favorite book / business identity / celebrity? Why did you attend Harvard? (College choice) Make me laugh Why did you choose to study finance? (Degree/Major choice) Tell me about your favorite and least favorite units at college Tell me about your time working for PWC? (Previous work experience) What do you like to do in your spare time / for fun? Where do you see yourself in 3, 5, 10 years time? How would your friends/parents/colleagues describe you? Tell me about your football team [Anything listed on your resume] What's the one thing you want me to know that's not on your resume? Tell me something about you that makes you interesting What would motivate you to keep coming back to work after 100 hour weeks, missed birthdays and no social life? Why should we take you on? Why do you want a job at Goldman Sachs? What do you know about our bank? Which group do you want to work in if you had the choice? What is our stock price / ticker / league ranking / biggest deal / CEO / group head / address / cafeteria's daily special / color of carpet without looking down Who do you know here or have you met? What recent deals have interested you? What do you expect to do here as a summer intern / analyst? What do investment banks do? What qualities do you think are important to be a successful analyst? What are your predictions for the market this year? If I gave you $100,000 right now, what would you do with it? Do you own any stocks? Why would Apple want to buy Guy Kawasaki Inc? Tell me about your 3 main strengths Tell me about a weakness Tell me about a time you were involved in a team Tell me about a time you lead a group of people Tell me about a time when you really worked hard Tell me about a time you failed How many 100 slide pitch books would fit in my million dollar Lear jet kid? You see my Patek "wunderfukinbar" Philippe, what's the degree of the angle between the big hand the small one kid? Oh and if I had a couple chickens and a fox how would I get them across the river? Know the sum of 1-500? Etc etc What are and how do the CF, BS and IS link to each other? Which financial statement is king if you can only pick one? What happens to the 3 financial statements when we change this line item? What is DCF and can you walk me through one? What are the pros and cons of DCF? What are the other 2 valuation methodologies and what are their pros and cons?
Views: 41772 BreakIntoBanking
Goldman Sachs Jobs: How Graduates Get Hired
 
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Goldman Sachs only accepts around three percent of job applicants. Who gets hired? How much are they paid? WSJ's Jason Bellini has #TheShortAnswer on what college students considering investment banking should know. Subscribe to the WSJ channel here: http://bit.ly/14Q81Xy Visit the WSJ channel for more video: https://www.youtube.com/wsjdigitalnetwork More from the Wall Street Journal: Visit WSJ.com: http://online.wsj.com/home-page Follow WSJ on Facebook: http://www.facebook.com/wsjlive Follow WSJ on Google+: https://plus.google.com/+wsj/posts Follow WSJ on Twitter: https://twitter.com/WSJLive Follow WSJ on Instagram: http://instagram.com/wsj Follow WSJ on Pinterest: http://www.pinterest.com/wsj/ Follow WSJ on Tumblr: http://www.tumblr.com/tagged/wall-street-journal Don’t miss a WSJ video, subscribe here: http://bit.ly/14Q81Xy More from the Wall Street Journal: Visit WSJ.com: http://www.wsj.com Visit the WSJ Video Center: https://wsj.com/video On Facebook: https://www.facebook.com/pg/wsj/videos/ On Twitter: https://twitter.com/WSJ On Snapchat: https://on.wsj.com/2ratjSM
Views: 470542 Wall Street Journal
Common Bank Interview Questions and Answers
 
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Common Bank Interview Questions and Answers For a detailed article on the subject visit: http://careersandmoney.com/common-bank-interview-questions-with-answers/ Here are links to 2 playlist which have more than 15 videos giving individual questions and answers. 1. Bank Interview Questions and Answers Series https://www.youtube.com/playlist?list=PLSx9V0Bx_O_q44bZ7TEnUIRflxXFFmJvm 2. Interview Questions & Answers for Accounts, Accounting, Finance Jobs https://www.youtube.com/playlist?list=PLSx9V0Bx_O_qQ9rIFEPi8eLTbv22MAcBx Our Standard Video Making Gear (affiliate links): • Laptop: https://amzn.to/2GYTX8u • Microphone: https://amzn.to/2L1yXQS • Mobile Phone: https://amzn.to/2smb6Uo • Camera: https://amzn.to/2GYDVeA • Tripod Stand: https://amzn.to/2IW20sn • Photography Backdrop: https://amzn.to/2L3rqkl • Photography Light Kit: https://amzn.to/2spOZfQ MORE USEFUL VIDEOS: o Tell us something about yourself OR Walk us through your resume https://www.youtube.com/watch?v=QfTNcEpMYRw o After Computer Engineering, why you wish to make career in Banking - Interview Question & Answer https://www.youtube.com/watch?v=y-LGU-kCZBI o Discuss your views about the changes in Banking Scenario - Bank Interview Question and Answer https://www.youtube.com/watch?v=9g9YHc69TP4 o What changes are required in the Banking Industry - Bank Interview Question & Answer https://www.youtube.com/watch?v=e5LRuUJ5ENw o To implement changes by Banks, share your recommendations? - Bank Interview Question & Answer https://www.youtube.com/watch?v=4fA1oJ5hhqo o Why do you want to join banking sector? - Bank Interview Question & Answer https://www.youtube.com/watch?v=bx_jZ0H5Phg o What is KYC? Why it is important? - Bank Interview Question & Answer https://www.youtube.com/watch?v=9PDzm9hOKpA o What are the documents required by banks for KYC compliance? - Bank Interview Question & Answer https://www.youtube.com/watch?v=VdTDknXBgxg o What are the functions of RBI? - Bank Interview Question & Answer • Sales Job Interview Questions and Answers https://www.youtube.com/watch?v=Y5F42ECHCxk • Important Job Interview Questions for Fresh Graduates https://www.youtube.com/watch?v=QVH9rs8W8l4 • Entry level interview questions for Accounts, Accounting, Finance Jobs https://www.youtube.com/watch?v=Kone-glRdRI • Commonly Asked Business School Interview Questions for MBA Entrance https://www.youtube.com/watch?v=XjTyUqPUTp4 • Entry Level Job Interview Questions and Answers for Engineers https://www.youtube.com/watch?v=pGHrJYGcD0s&t=20s • Tricky Brainteaser Job Interview Questions https://www.youtube.com/watch?v=Z79dqDLH_Qw FOR CAREER DEVELOPMENT SERVICES: • Interview Training: http://careersandmoney.com/interview-coaching/ • Career Counseling: http://careersandmoney.com/career-counselling/ • Executive Coaching: http://careersandmoney.com/executive-coaching/ • CV Making: http://careersandmoney.com/cv-writing-services/ Social Media Links • https://www.facebook.com/cvmaking • https://twitter.com/careersmoney Other useful links • http://www.cvmaking.com • http://acsjobs.in/content/page/corporate-training.php • http://cvmaking.com/modules/cms/about-the-ceo.php Do like | Do share and post your views. More videos coming soon. All the best ! wish you all the success careersandmoney Sundeep Kataria Since 1997 CVMAKING.COM -- a division of ACS CONSULTANTS offers dedicated: • Interview Coaching • Career Counseling • Executive Coaching • Personality Development • Professional CV Writing • Cover Letter Writing • CV Evaluation • Resume Flash Services to candidates all across India as well as many other English speaking countries. For more details of our services, click http://cvmaking.com/ or http://careersandmoney.com/ or contact us at [email protected] ABOUT SUNDEEP KATARIA Professionally he is a Management Consultant, Corporate Trainer, Motivational Speaker, Life Coach, Content Writer, Corporate Trainer & Author. Sundeep Kataria is highly educated and professionally qualified - MBA, Post Graduate Diploma in International Trade from Indian Institute of Foreign Trade (one of the top 10 B Schools in India). He has authored 4 books besides regularly writing many blogs and articles. CONTACT US FOR CONDUCTING OPEN WORKSHOPS AND IN -- HOUSE TRAINING PROGRAMS FOR A UNIQUE EXPERIENCE. Keep practicing with this video often, to sustain the benefits. Contact: Phone : (+91-11) 43022692, 43022693, 9873372726 #banking #bankinginterview #career #employment #jobopportunities #howtoprepareforinterview #mockinterview Image Credit: FreeDigitalPhotos.net and Pixabay.com
Views: 396033 Careers and Money
Sherjan Husainie: Career in investment banking
 
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Sherjan Husainie is the founder and a mentor at 'Leaders in Investment Banking,' a series of free workshops held in various countries across the world that aims to help young professionals break into the highly competitive industry. The workshop is organized into four components: behavioral interviews, technical interviews, resume and cover letters, and networking. Recently hired in September 2013 as an associate at Google Capital, Husainie previously held positions at Morgan Stanley, Houlihan Lokey and RBC Capital Markets, among others. He graduated from the University of Toronto with a degree in aerospace engineering in 2009, and from the Anderson School of Management at UCLA with a masters degree in financial engineering in 2010, and began 'Leaders' that same year. Part one of this interview series with Husainie, who spoke to Career Insider Business reporter Akihiko Tse, focuses on investment banking and its implications as a career choice. Part two looks at the inspiration behind 'Leaders,' and how it seeks to "unleash the potential of young professionals." The third and final part focuses on Husainie's individual career path since transitioning from aerospace engineering to investment banking. Minute marks Part 1 -- Investment Banking 0:05 -- What is investment banking? 0:55 -- Why choose investment banking as a career path? 1:28 -- What are some lessons that investment banking can teach you? 2:32 -- What are some technical skills required in order to be an investment banker? 3:55 -- In investment banking, why is about who you know, rather than about what you know? 5:06 -- What is the importance of investment banking in today's global context? 6:25 -- How can investment baking nurture personal and professional growth?
How to get into investment banking
 
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http://thegatewayonline.com We spoke to Morgan Stanley bankers to find out how to decide whether the sector is right for you, why an internship is so important, and what investment banks – and Morgan Stanley recruiters in particular – are looking for in graduates.
Views: 209373 The Gateway
Investment Banking Interview Tips
 
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Welcome to Corporate Bridge YouTube Channel. This Video clearly explains you about Investment Banking Interview Tips. Visit our website https://www.educba.com for FREE Demo. Check out our YouTube Channel for more financial courses video.
Views: 558 eduCBA
Bloomberg Private Equity Guide Interview
 
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Dan Sheyner, author of the Wall St Oasis Private Equity Interview Guide discusses the industry trends. Check out the popular guide Private Equity Prep Pack here: http://www.wallstreetoasis.com/guide/the-wso-private-equity-interview-prep-package
Views: 38159 WallStreetOasis
Investment Banking: What do they do?
 
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Check out their podcast here: https://breakingintostartups.com/ If you know someone that would make a good guest: M(at)EngineeredTruth.com https://Facebook.com/EngineeredTruth https://Twitter.com/EngineeredTruth https://Instagram.com/EngineeredTruth
Views: 92877 ENGINEERED TRUTH
Investment Banking Interview Question: Financial Statements
 
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In this video, Joshua Rosenbaum and Joshua Pearl, authors of the highly acclaimed and authoritative textbook, Investment Banking, walk you through how to answer technical questions asked during the investment banking interview process, specifically "How do the three main financial statements link together?" You can access more investment banking mock interview and training videos at http://www.efficientlearning.com/investment-banking/
Views: 52619 Wiley Finance
Why Investment Banking Interview Question
 
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http:/insideinvestmentbanking.com - Learn How To Break Into Investment Banking About this Video: This is a quick look at the very common why investment banking interview question.
Views: 82947 BreakIntoBanking
Deutsche Bank Interview Question and Tips
 
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Interview with an IIT graduate to help you get a job in Deutsche Bank and companies with similar profile. Like this video and share it with your friends if you find it helpful. Do let us know if you have any doubts or suggestions in the comment section below. Cheers. Subscribe to Placement Grid at http://bit.ly/12csrNC Follow us on: Facebook: https://www.facebook.com/PlacementGrid Twitter: https://twitter.com/PlacementGrid
Views: 15241 Placement Grid
This behavior could kill your chances in a Goldman Sachs interview
 
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Goldman Sachs Head of Human Capital Management Edith Cooper came by for a Facebook Live event. In this segment, we asked her what Goldman considers red flag behavior in an interview. -------------------------------------------------- Follow BI Video on Twitter: http://bit.ly/1oS68Zs Follow BI on Facebook: http://bit.ly/1W9Lk0n Read more: http://www.businessinsider.com/ -------------------------------------------------- Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.
Views: 68786 Business Insider
Investment Banking Domain Knowledge for Developer & Tester | Capital Market Interview Part 1
 
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Investment Banking Domain Knowledge for Developer and Tester, Capital Market Interview Question for Developer and Tester, investment banking interview questions, Testing Interview Question, Software testing,
Views: 4012 Interview Guru
Mock Investment Banking Interview Question – What Is Beta?
 
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Mock Investment Banking Interview Questions; - What Is Beta? How Is It Used To Value A Company? - Why Do We Unlever and Lever Beta? - How Do You Unlever and Lever Beta? - What Is The Difference Between The Bottom-Up And Top-Down Approach? If you have any other questions, please comment below. If you enjoyed the video and found it helpful, please like and subscribe to FinanceKid for more videos soon! For those who may be interested in finance and investing, I suggest you check out my Seeking Alpha profile where I write about the market and different investment opportunities. I conduct a full analysis on companies and countries while also commenting on relevant news stories. http://seekingalpha.com/author/robert-bezede/articles#regular_articles
Views: 1222 FinanceKid
What do investment banks actually do? - MoneyWeek Investment Tutorials
 
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MoneyWeek’s Tim Bennett explains what investment banks actually do- and how they earn their huge profits. MoneyWeek videos are made by MoneyWeek, the UK’s most popular financial magazine. Founded in 2000, MoneyWeek aims to provide intelligent and enjoyable commentary on the most important financial stories. It also tells you how to make money from the latest financial news. For more videos and exclusive content please visit http://moneyweek.com/video-tutorial/
Views: 540264 MoneyWeek
Investment Banking First Round Interview
 
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http://insideinvestmentbanking.com - Learn How To Break Into Investment Banking About this Video: This is a quick look at the first round investment banking interview, including the who, where, what and how.
Views: 7737 BreakIntoBanking
LBO Model Interview Questions: What to Expect
 
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In this tutorial, you'll learn about the most common LBO modeling-related questions and some tricks and rules of thumb you can use to approximate the IRR and solve for assumptions like the purchase price and EBITDA growth in leveraged buyouts. Table of Contents: 2:36 Question #1: LBO Model Walkthrough 5:34 Question #2: Ideal LBO Candidates 8:09 Question #3: How to Approximate IRR 11:46 Question #4: How to Solve for EBITDA or the Purchase Price 13:58 Question #5: How to Approximate the IRR in an IPO Exit 16:03 Recap, Summary, and Key Principles Lesson Outline: Will you get LBO-related questions in interviews? Yes, possibly, but full case studies are unlikely unless you're interviewing for PE roles or more advanced IB roles. Interviewers now ask trickier questions about the fundamentals, they ask progressions of questions on the same topic or scenario, and they're more likely to give you *simple* cases and numerical tests rather than complex ones. A typical progression for LBO models might be as follows: Question #1: LBO Model Walkthrough "In a leveraged buyout, a PE firm acquires a company using a combination of Debt and Equity, operates it for several years, and then sells it; the math works because leverage amplifies returns; the PE firm earns a higher return if the deal does well because it uses less of its own money upfront." In Step 1, you make assumptions for the Purchase Price, Debt and Equity, Interest Rate on Debt, and Revenue Growth and Margins. In Step 2, you create a Sources & Uses schedule to calculate the Investor Equity paid by the PE firm. In Step 3, you adjust the Balance Sheet for the effects of the deal, such as the new Debt, Equity, and Goodwill. In Step 4, you project the company's statements, or at least its cash flow, and determine how much Debt it repays each year. Finally, in Step 5, you make assumptions about the exit, usually using an EBITDA multiple, and calculate the MoM multiple and IRR. Question #2: Ideal LBO Candidates Price is the most important factor because almost any deal can work at the right price – but if the price is too high, the chances of failure increase substantially. Beyond that, stable and predictable cash flows are important, there shouldn't be a huge need for ongoing CapEx or other big investments, and there should be a realistic path to exit, with returns driven by EBITDA growth and Debt paydown instead of multiple expansion. Question #3: Approximating IRR "A PE firm acquires a $100 million EBITDA company for a 10x multiple using 60% Debt. The company's EBITDA grows to $150 million by Year 5, but the exit multiple drops to 9x. The company repays $250 million of Debt and generates no extra Cash. What's the IRR?" Initial Investor Equity = $100 million * 10 * 40% = $400 million Exit Enterprise Value = $150 million * 9 = $1,350 million Debt Remaining Upon Exit = $600 million – $250 million = $350 million Exit Equity Proceeds = $1,350 million – $350 million = $1 billion IRR: 2.5x multiple over 5 years; 2x = 15% and 3x = 25%, so it's ~20%. Question #4: Back-Solving for Assumptions "You buy a $100 EBITDA business for a 10x multiple, and you believe that you can sell it again in 5 years for 10x EBITDA. You use 5x Debt / EBITDA to fund the deal, and the company repays 50% of that Debt over 5 years, generating no extra Cash. How much EBITDA growth do you need to realize a 20% IRR?" Initial Investor Equity = $100 * 10 * 50% = $500 20% IRR Over 5 Years = ~2.5x multiple (2x = ~15% and 3x = ~25%) Exit Equity Proceeds = $500 * 2.5 = $1,250 Remaining Debt = $250, so Exit Enterprise Value = $1,500 Required EBITDA = $150, since $1,500 / 10 = $150 Question #5: Approximating IRR in an IPO Exit "A PE firm acquires a $200 EBITDA company for an 8x multiple using 50% Debt. The company's EBITDA increases to $240 in 3 years, and it repays ALL the Debt. The PE firm takes it public and sells off its stake evenly over 3 years at a 10x multiple. What's the IRR?" Initial Investor Equity = $200 * 8 * 50% = $800 Exit Enterprise Value = Exit Equity Proceeds = $240 * 10 = $2,400 "Average Year" to Exit = 1/3 * 3 + 1/3 * 4 + 1/3 * 5 = 4 years IRR: 3x over 3 years = ~45%, and 3x over 5 years = ~25% Approximate IRR: ~35% (This one's a bit off – see Excel.) RESOURCES: https://youtube-breakingintowallstreet-com.s3.amazonaws.com/109-13-LBO-Model-Interview-Questions-Slides.pdf
Investment Banking Interview Preparation - 9_23_15
 
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Similar to last year's investment banking interview preparation lecture, but we focus more on behavioral strategies and career fairs.
Views: 9253 Paul Pignataro
Interviewing with McKinsey: Case study interview
 
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Learn what to expect during the case study interview. Hear what some recent hires did - and did not - do to prepare.
Views: 545709 McKinsey & Company
Investment Banking Mock Interview: What is an LBO?
 
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In this video, Joshua Rosenbaum and Joshua Pearl, authors of the highly acclaimed and authoritative textbook, Investment Banking, walk you through some common technical questions asked during the investment banking interview process, specifically "What is an LBO?" You can access more investment banking mock interview and training videos at http://www.efficientlearning.com/investment-banking/
Views: 47893 Wiley Finance
Investment banking for non-finance students
 
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We spoke to Morgan Stanley bankers to find out why the bank needs graduates from a range of academic disciplines, how bankers here use skills acquired on arts and science degrees in their jobs, and how you can increase your finance knowledge and commercial awareness.
Views: 112860 The Gateway
Capital market and Investment banking interview preparation part 1
 
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Capital market Mutual Fund and Types of Mutual Fund BFSI IT KPO Notes Tips Capital market and Investment banking interview preparation part 1
Views: 1286 Entertainment Fun
Day in the Life of a Corporate Banker | J.P. Morgan
 
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SUBSCRIBE: http://jpm.com/x/i/NFPWfK0 Trish Devine, a managing director in Corporate Banking, help clients realize their objectives by leveraging different parts of the firm. About J.P. Morgan: J.P. Morgan is a leader in financial services, offering solutions to clients in more than 100 countries with one of the most comprehensive global product platforms available. We have been helping our clients to do business and manage their wealth for more than 200 years. Our business has been built upon our core principle of putting our clients' interests first. Connect with J.P. Morgan Online: Visit the J.P. Morgan Website: http://jpm.com/x/d/LPdzH4w Follow @jpmorgan on Twitter: http://jpm.com/x/i/NFPWLIB Visit our J.P. Morgan Facebook page: http://jpm.com/x/i/NFQoLBw Follow J.P. Morgan on LinkedIn: http://jpm.com/x/i/NFQoLGt #jpmorgan #jpmorgancareers Day in the Life of a Corporate Banker | J.P. Morgan
Views: 1068586 jpmorgan
Commercial Banking Interview Questions
 
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This video will help you prepare for a commercial banking interview. Whether you are applying for a credit analyst, commercial banking associate, or lending officer role, most commercial banking interviews follow a similar format. Start by understanding the group you are applying for. Then prepare for behavioral questions as most interviews focus on “fit” and your communication skills. From a technical side, understand the basic credit terms, ratios to judge the performance and efficiency of a business, and know how to read the three financial statements. As always, practice is most important. Good luck! We walk through 6 different commercial banking interview questions; 1) Why commercial banking? 2) Tell me about a past sales experience 3) Walk me through a $1 million credit proposal 4) What does it take to be a great commercial banker? 5) Name three important credit ratios? 6) How are the three financial statements linked? If you have any other questions, please comment below. If you enjoyed the video and found it helpful, please like and subscribe to FinanceKid for more videos soon! For those who may be interested in finance and investing, I suggest you check out my Seeking Alpha profile where I write about the market and different investment opportunities. I conduct a full analysis on companies and countries while also commenting on relevant news stories. http://seekingalpha.com/author/robert-bezede/articles#regular_articles
Views: 14309 FinanceKid
What's the difference between investment banking and private equity?
 
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Sherjan Husainie, of Leaders Global Network, offers career workshops in ten major cities around the world. He has worked in both investment banking at Morgan Stanley and in private equity at Google Capital. For more info, visit http://www.leadersgn.com/
Views: 178204 Career Insider Business
Merger Model Interview Questions: What to Expect
 
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You’ll learn about the most common merger model questions in this tutorial, as well as what type of “progression” to expect and the key principles you must understand in order to answer ANY math questions on this topic. Table of Contents: 3:26 Question #1: The Basic Rules 5:23 Question #2: With Real Numbers 8:21 Question #3: Equity Value, Enterprise Value, and Valuation Multiples 12:17 Question #4: Ranges for the Multiples 14:26 Question #5: What if the Buyer is Twice as Big? 16:26 Recap, Summary, and Key Principles Question #1: The Basic Rules "A company with a P / E multiple of 25x acquires another company for a purchase P / E multiple of 15x. Will the deal be accretive or dilutive?" ANSWER: You can’t tell unless it’s a 100% Stock deal. If it is, it will be accretive because the Cost of Acquisition is 1 / 25, or 4%, and the Seller’s Yield is 1 / 15, or 6.7%. Since the Seller’s Yield is higher, it will be accretive. For Cash and Debt deals, or deals with a mix of all three, you’d calculate the Weighted Cost of Acquisition by using Foregone Interest Rate on Cash * (1 – Buyer’s Tax Rate) * % Cash + Interest Rate on Debt * (1 – Buyer’s Tax Rate) * % Debt + 1 / (Buyer’s P / E Multiple) * % Stock and compare that to the Seller’s Yield. Question #2: With Real Numbers “Let’s say it is a 100% Stock deal. The Buyer has 10 shares at a share price of $25.00, and its Net Income is $10. It acquires the Seller for a Purchase Equity Value of $150. The Seller has a Net Income of $10 as well. Assume the same tax rates for both companies. How accretive is this deal?” ANSWER: The buyer’s EPS is $10 / 10 = $1.00. It must issue 6 additional shares to do the deal, so the Combined Share Count is 10 + 6 = 16. Since both companies have the same tax rate and since no Cash or Debt is used, Combined Net Income = $10 + $10 = $20, and Combined EPS = $20 / 16 = $1.25, so the deal is 25% accretive. Question #3: Equity Value, Enterprise Value, and Valuation Multiples “What are the Combined Equity Value and Enterprise Value in this same deal? Assume that Equity Value = Enterprise Value for both the Buyer and Seller.” ANSWER: Combined Equity Value = Buyer’s Equity Value + Value of Stock Issued in the Deal = $250 + $150 = $400. Combined Enterprise Value = Buyer’s Enterprise Value + Purchase Enterprise Value of Seller = $250 + $150 = $400. The Combined EV / EBITDA multiple won’t be affected by the mix of Cash, Stock, and Debt, but the P / E multiple will be. It’s 20x here ($400 / $20), but it will change for non-100%-Stock deals. Question #4: Ranges for the Multiples “Without doing any math, what ranges would you expect for the Combined EV / EBITDA and P / E multiples, and why?” ANSWER: They should be somewhere in between the Buyer’s multiples and the Seller’s purchase multiples. It’s almost never a simple average because of the relative sizes of the Buyer and Seller – and for P / E, the purchase method also plays a role. Question #5: What if the Buyer is Twice as Big? "What happens if the Buyer is twice as big, i.e. it has an Equity Value of $500 and Net Income of $20?" ANSWER: The deal becomes *less* accretive because the company making it accretive, the Seller, now has a lower weighting. The Buyer was previously $250 / $400 of the total, but is now only $500 / $650, which is ~63% vs. ~77%, so we’d expect accretion to fall by 10-15%, which it does. The Combined Multiples will all be closer to the Buyer’s multiples now as well. Recap, Summary, and Key Principles Principle #1: If the Seller’s Yield is above the Weighted Cost of Acquisition, it’s accretive; dilutive if the opposite. Principle #2: Combined Equity Value = Buyer’s Equity Value + Value of Stock Issued in the Deal. Principle #3: Combined Enterprise Value = Buyer’s Enterprise Value + Purchase Enterprise Value of Seller. Principle #4: The Combined P / E Multiple is affected by the Cash / Debt / Stock mix, but the Combined EV / EBITDA Multiple is not. Principle #5: The Combined Multiples will be in between the Buyer’s multiples and the Seller’s purchase multiples – exact numbers depend on sizes of the Buyer and Seller. RESOURCES: https://youtube-breakingintowallstreet-com.s3.amazonaws.com/108-11-Merger-Model-Interview-Questions-Slides.pdf https://youtube-breakingintowallstreet-com.s3.amazonaws.com/108-11-Merger-Model-Interview-Questions.xlsx
11 investment bank interview tips - on the bank
 
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http://www.katsonga.com/girlbanker Get, To Become An Investment Banker (The Book) USA: http://amzn.to/2bb5OFH UK: http://amzn.to/2aIoQAx @GirlBanker: https://twitter.com/#!/GirlBanker Before an interview with an investment bank make sure you know the bank inside out. Failing to do so can be the difference between getting the job and not getting the job. It's impressive when you have down enough to research on the investment bank that you can correlate their projects and requirements with your own experiences. Here are a few tips on what you have to know: http://www.katsonga.com/girlbanker/11-things-you-need-to-know-about-a-bank-before-the-interview
Views: 778 GirlBanker
🙅Why We Quit Investment Banking ($100,000+ Salary)
 
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Free Training To A Brand New High-End Career (limited time only 2018) https://www.besthighendcareer.com/webinar Learn about what investment bankers do: https://youtu.be/MbMh6KRLz9U Check out their podcast: https://breakingintostartups.com/ https://Facebook.com/EngineeredTruth https://Twitter.com/EngineeredTruth https://Instagram.com/EngineeredTruth
Views: 103681 ENGINEERED TRUTH
Investment Banking Careers at Goldman Sachs
 
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See how a career in Investment Banking offers early exposure to world-class clients and a platform to make a difference.
Views: 204698 Goldman Sachs
Investment banking
 
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Investment banking
Views: 92071 arbitrageurs
The Exit Interview - Choosing an Investment Banker
 
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Will Bowmer of Barclays and Joe Morgan of SVB discuss what to look for when choosing an investment banker for your IPO.
Views: 280 Silicon Valley Bank
Investment banker interview questions and answers
 
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Interview questions and answers ebook: http://interviewquestionsebooks.com/103-interview-questions-and-answers/ Other useful interview materials: - Free ebook 75 common interview questions and answers: http://interviewquestionsaz.blogspot.com/p/free-ebook-75-interview-questions-and.html - Top 10 interview secrets to win every job interview: http://interviewquestionsaz.blogspot.com/2013/07/top-10-secrets-to-win-every-job.html - 13 types of interview questions and how to face them: http://interviewquestionsaz.blogspot.com/p/13-types-of-interview-questions.html - Top 12 common mistakes in job interviews: http://interviewquestionsaz.blogspot.com/2013/07/top-12-common-mistakes-in-job-interviews.html - Top 3 interview thank you letter samples: http://interviewquestionsaz.blogspot.com/2013/07/top-3-interview-thank-you-letter-samples.html - Practice types of job interview such as screening interview, phone interview, second interview, situational interview, behavioral interview (competency based), technical interview, group interview...
Views: 2904 Interview questions
Barclays Interview 1- Interview Expeience, Suggestions and Tips
 
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Barclays is a British multinational banking and financial services company headquartered in London. It is a universal bank with operations in retail, wholesale and investment banking, as well as wealth management, mortgage lending and credit cards. It has operations in over 50 countries and territories and has around 48 million customers. As of 31 December 2011 Barclays had total assets of US$2.42 trillion, the seventh-largest of any bank worldwide. The candidate, Shreya Gupta is sharing her interview experience and details about the rounds that were conducted for the same. Comment for any queries, and other companies you wish to know about, we'd love to help! Subscribe our channel PB Videos for more such videos. Visit www.placementboat.org for more info on placements. Come sail with us!
Views: 24181 Placement Interview
Top 6 Trading Job Interview Questions 🙋
 
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6 Questions You're Probably Be Asked in Your Job Interview. http://www.financial-spread-betting.com/ PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE. How do I get a job trading? What types of trading jobs are there? These are typical questions asked at investment bank interviews. So perhaps questions you're typically be asked during a graduate trading interview with an investment bank or prop firm Sales & Trading Interview Questions | How To Prepare 1) What do you know about the position? 2) What do you know about the company? 3) Questions to test your market knowledge. 4) Questions related to the skillsets needed 5) What are your career aspirations? This is the classic one... They want honesty here. 6) Questions about solving problems. These are the kind of questions where there might not be any right or wrong answers but they want to see how you go about problem solving. If you're going for a job interview - best of luck! :) Related Video 6 Crazy Questions Asked at Prop Trading Job Interviews & Investment Banks 🤪 https://www.youtube.com/watch?v=sXWebDEhCvg
Views: 2101 UKspreadbetting
Understanding Investment Banking
 
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Source : Société Générale CIB Taking a concrete example of a company with a project to build a new generation of wind turbines, this educational video explains the services provided by a corporate and investment bank which enable the project to see the day. The four main services offered include providing strategic advice, organising the financing, helping the client manage financial risk and offering appropriate investment solutions. In this way, Societe Generale plays a role in financing the economy. In French : Banque de Financement & d'Investissement (BFI) En partant d'un cas concret d'une société qui a un projet de bâtir une nouvelle génération d'éoliennes, cette vidéo pédagogique explique comment une banque de financement et d'investissement apporte des services qui permettent au projet de voir le jour. Les quatre grands services proposés consistent à apporter des conseils stratégiques, organiser le financement, accompagner le client dans la gestion des risques financiers et trouver des solutions d'investissement adaptées. C'est ainsi que Société Générale contribue au financement de l'économie réelle.
Views: 293098 QUANT GEN
Interview Questions and Answers - Finance
 
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In this video I go through the questions from the practice finance interview and give you guidance, and hints and tips on how best to answer them.
Views: 32132 NanoTechTips
Imarticus Webinar: Top 15 Investment Banking Interview Questions
 
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In light of the growth in the Investment Banking industry and the resultant career opportunities, Imarticus Learning conducted a webinar on the top 15 Investment Banking interview questions that hopeful candidates could encounter. Reshma Krishnan, an experienced banking professional share her views on the best practices while preparing for an interview and discusses ideal responses to some of the most frequently asked Investment Banking interview questions. Imarticus Learning is India’s leading professional education institute, offering certified industry-endorsed training in Financial Services, Investment Banking, Business Analysis, IT, Business Analytics & Wealth Management. To know more, visit our website: www.imarticus.org
Views: 43 Imarticus Learning
Investment Banking Interview Tips Careers London www.hiredinib.com
 
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http://hiredinib.com/ Investment Banking Internviews Careers Interview Tips - We offer a variety of services to help you prepare even for the most challenging interviews! Book a mock interview appointment with a specialist career consultant and practice hundreds of real interview questions.
The Banker's Investment Banking Awards 2015 - Interview with Robin Phillips
 
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Robin Phillips, global head of banking, HSBC talks to The Banker about the investment banking industry, the markets in 2015 and prospects for next year.
Views: 532 The Banker
Lessons from the World of Banking: Barbara Byrne, Vice Chairman of Investment Banking at Barclays.
 
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The Darden Leadership Speaker Series welcomes Barbara Byrne, a Vice Chairman within the Investment Bank at Barclays. Based in New York, Ms. Byrne is Chairman of both Barclays Americas Citizenship Council, overseeing strategic programs to foster global economic growth and opportunity, and Barclays Social Innovation Facility, a cross-business resource dedicated to the development of self-sustaining commercial solutions to social challenges. With over 35 years of financial services experience, Ms. Byrne has been at the forefront of developing and leading longstanding partnerships with some of Barclays’ most important multinational, corporate clients. She is responsible for leading cross business teams in delivering the firm’s products and services to those clients, and is the primary architect of several of the firm’s marquee transactions. She has held senior management positions in Energy and Technology Banking groups throughout her career, and has led diverse strategic advisory initiatives across the firm focused on enhancing clients' global market position. Additionally, Ms. Byrne graduated from Mount Holyoke College magna cum laude in 1976 and served on its Board of Trustees and Executive Committee for ten years. Ms. Byrne is a frequent speaker on behalf of women in business, social innovation, finance and leadership. She has been invited to attend Fortune’s Most Powerful Women’s Summit for over 10 years. In each of the past seven years, American Banker has ranked her as one of the “25 Most Powerful Women in Finance.” In 2016, she debuted as a co-producer of Equity, the first female-driven Wall Street film. Additionally, she is a member of The Council on Foreign Relations and The Women’s Forum for the Economy and Society. Ms. Byrne also serves on the New York City Board of the British-American Business Council. Ms. Byrne also acts as a frequent spokesperson on financial market commentary for news organizations such as Fortune, Forbes, Bloomberg, Reuters and CNBC. Recorded 27 March 2017.
Views: 3399 DardenMBA
Investment Banking: Industry Overview and Careers in Investment Banking
 
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Investment banks are notorious for their highly competitive working environment and long working hours for junior employees. Nevertheless, they continue to be seen as one of the prime destinations for talented Business and Finance graduates, given the excitement of working on large deals and the high pay scale that comes with this job. Investment banking operations tend to be more sophisticated than traditional “deposit taking, credit giving” retail banking services. Investment banks work closely with corporate clients, pension funds, financial sponsors and governments to structure and execute some of the largest transactions that we see in the news. On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers
Views: 84282 365 Careers
WORLD WOMEN'S BANKING Interview
 
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Typical gender characteristics towards business and investment.
Views: 426 richmgt

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