Comments on: Investment Banking Interview Questions and Answers: The Definitive Guide

By: M&I - Brian

M&I - Brian — Fri, 08 Mar 2024 16:39:18 +0000

In reply to Adam Nicholas Cuckovic. You will still get standard questions on all the normal topics even in restructuring interviews.

By: Adam Nicholas Cuckovic

Adam Nicholas Cuckovic — Sun, 03 Mar 2024 14:53:27 +0000

Hi Brian,
I have an interview for a debt and restructuring SA position coming up. Does the LBO and M&A stuff still apply to me, or will they most likely not ask about it since it wouldn’t be relevant to the role.

By: M&I - Brian

M&I - Brian — Tue, 15 Feb 2022 02:24:10 +0000

In reply to Rich. Given the timing here, I don't think you will sound believable if you claim that taking the Big Tech offer was your plan all along (maybe if you stayed for a year and then applied to IB). So you will probably have to say that you made a mistake and had a poor impression of IB from your internship, but quickly realized that larger banks are quite different and do not have the same types of cultural/team issues you encountered there. You took the Big Tech offer because it seemed better at the time, but you realized you're not a good fit for whatever reason, so you still prefer finance.

By: Rich

Rich — Sun, 13 Feb 2022 17:02:49 +0000

Hi Brian,

During my MBA I did a boutique IB internship but since they were having team issues I decided to take my big tech offer. It is only 3 month now but I started regretting my decision and reapplying to IB again to Industrial group so unrelated to tech experience. How would you frame the answer to why I went to tech at the time from IB? Would be great to hear your insight. Thanks a lot.

Rich

By: M&I - Brian

M&I - Brian — Wed, 03 Mar 2021 15:27:28 +0000

In reply to E. No. All these accounting questions assume standard U.S. GAAP treatment of the financial statements, i.e., that CFO starts with Net Income and then adjusts for non-cash items and the Change in WC (as opposed to the IFRS/other treatment where the CFS may use the Direct Method or start with OpInc or Pre-Tax Income or something else rather than Net Income). Including interest expense therefore makes no sense because it would be double-counting, as it's already deducted in Net Income on the IS. Interest Payable is pointless because the interest is not going to remain a payable for a year. Most loans have interest payments that are due on monthly, quarterly, or semiannual schedules.

By: E

Tue, 02 Mar 2021 11:50:47 +0000

Hi Brian, for the problem on company buying factory using $100MM in debt, I think you should also include $10MM interest paid in CFO and reduce Interest Payable by $10MM at year end.

By: M&I - Brian

M&I - Brian — Tue, 02 Feb 2021 15:24:45 +0000

In reply to D. They factor in, but no one knows by exactly how much because banks do it differently and never disclose their methods. But they're normally more of an "elimination" exercise than anything else. Answer poorly enough and you're out, but a great score doesn't necessarily help you. All you can do is practice with firms that offer online tests.

By: D

Mon, 01 Feb 2021 21:40:26 +0000

Hey Brian I just had a quick question. How much do pre-employement, AI driven assessments like Pymetrics or CCAT factor into the recruiting process? If they do significantly matter, do you have any tips on how to prepare for them?
Thanks!

By: M&I - Brian

M&I - Brian — Wed, 22 Apr 2020 02:57:45 +0000

In reply to Momo.

It all depends on how much full-time work experience you already have. If it’s beyond 2-3 years, it will be tough to win Analyst/Intern offers. Please see: https://mergersandinquisitions.com/age-investment-banking/

By: Momo

Momo — Sat, 18 Apr 2020 11:30:57 +0000

Thank you Brian for your blog!
Just one question I would like to know if age plays a key role to get a summer internship as an analyst intern to a BB (London)? I am 26 and just get an offer for a Master at LSE but I am worried that my age could affect my application for the summer 2021 position. Do you think I have still my chance?