HomeОбразованиеRelated VideosMore From: Mergers & Inquisitions / Breaking Into Wall Street

Investment Banking “Fit” Questions: Quick Prep

426 ratings | 27412 views
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
Html code for embedding videos on your blog
Text Comments (12)
MrFlamingTacoMan (9 days ago)
is there a similar video for S&T or ER?
No, but we do have articles on interview prep for S&T and ER on M&I if you take a look there. The "fit" questions aren't that much different, but you focus on slightly different points in your answers (e.g., ability to take calculated risks is a lot more important in S&T).
Armaan Hindocha (1 month ago)
Thank you.
Thanks for watching!
tristan papouyan (1 year ago)
What advice could you give to someone who maybe didn’t go to an Ivy League school, but a known senior military college such as The Citadel? I’ve been interested in investment banking and received an amazing opportunity but want to be sure I can meet this criteria.
Please see all the recruiting-focused articles on M&I. Network, network, network, internships, internships, internships, and start extremely early since recruiting now takes place at warp speed.
Henri Vieillard (1 year ago)
About the "real weaknesses", should we adress them from the start (by including them in our story for example) ? Or should we wait for the interviewers to challenge us ?
Henri Vieillard (1 year ago)
Thanks ! Great content btw.
You can address the most obvious one in your story, but don't spend too much time on it; your story is about your strengths, not your weaknesses. So, don't mention something like a low GPA or low test scores upfront. Let the interviewer ask about it, and be prepared to address it when he/she does. On the other hand, if your weakness is blatantly obvious, such as getting interested in IB after graduation and not having any relevant internships, you have to explain that in the course of your story.
Me Again (1 year ago)
´Question bit off topic - but do you have any tutorial about the reformulation of balance, Equity etc ? -  Cant find any topic on youtube. Seems impossible  - Plz help this crying guy here.  Regards
estebiitan5 (1 year ago)
do you mean, restructuring? Finding the balance between debt and equity to increase a company value? Modigliani and Miller's Capital Structure Theory is about that.
I don't know what "reformulation of balance, Equity etc" means. Please re-phrase your question or give a specific example.

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.