Why would you like an internship in investment banking?
The following list contains common answers to the “Why Investment Banking?” interview question: Fast-Paced Work Environment Post-Graduation (Intense, but Worthwhile Learning Experience) Analyze Different Business Models and Develop an Understanding of Industries (and Unit Economics)
Some generic themes to draw on for your answer to “Why Investment Banking” could include: Fast-paced environment. Exposure to high profile transactions. Surround myself with intelligent and motivated people.
Sample Answer:
The banking industry is lucrative and plays an important role in our economy. It offers challenging roles and opportunities to develop skills and knowledge. The dynamic nature of the industry and its relevance in the economic scenario is why I want to pursue a career in the banking sector.
Investment banking offers the opportunity to become an expert at building large, complex financial models at the earliest stage of your career. While bankers aren't necessarily great investors, they do spend a lot of time on valuation work, and this can be an excellent way to start your career.
- Assisting with minor tasks. ...
- Pitching deals. ...
- Helping to execute deals. ...
- Learning about departments. ...
- Observing meetings. ...
- Pursue a bachelor's degree. ...
- Excel in your courses. ...
- Participate in extracurricular activities.
Most technical questions will be on basic accounting and valuation. But come prepared for technicals around discounted cash flow analysis (DCF), intrinsic valuation vs. relative valuation, etc. Sometimes, interviewers will also ask challenging brainteasers to gauge how you think about problems on the spot.
Joining your firm will gauge where I stand. No better opportunity than this can come my way. I can showcase my talent and prove my skills here, while in turn, I can learn how this industry functions in and out. That is why you may hire me for this internship.
Give the interviewer a story that shows your achievements and how everything fits together for you to be a successful investment banker. Make sure to point out how each job has let you take on more responsibility, or required you to acquire more finance/business knowledge than the one before it.
- Tell me a little bit about yourself.
- What is your greatest strength and your greatest weakness?
- Where do you see yourself in five years?
- How did you hear about our company?
- What about our job listing caught your attention and made you believe this was a job you would be interested in?
One of the reasons for choosing finance as a career is the ample opportunities for professional growth and development it offers. A career in finance comes with clear progression routes. This industry has endless growth opportunities and the scope increases with experience.
What are your weaknesses investment banking interview?
Be Real, But Not TOO Real – Pick something that is a real weakness, but which is not a “deal-breaker weakness.” For example, you could say that you sometimes take too long to make decisions, which makes projects take more time. This weakness could affect your performance, but it won't kill you.
Investment bankers are notorious for working long and demanding hours, with work weeks well exceeding 40 hours being the norm for entry-level investment banking analysts. In a competitive culture where putting in extra-long hours is regarded as a badge of honor, a 9-to-5 routine is pretty much unheard of.
The lucrative and fast-paced career of an investment banker is a highly competitive one. For instance, in a recent year, 236,000 applicants competed for roughly 3,500 internships at Goldman Sachs. This is common across the industry where acceptance rates for programs are typically less than 2%.
$73K (Median Total Pay)
The estimated total pay range for a Intern at J.P. Morgan is $57K–$94K per year, which includes base salary and additional pay.
The estimated total pay for a Investment Banking Intern is $160,121 per year in the United States area, with an average salary of $79,047 per year.
- Tip #1: Be prepared to discuss 1-2 deals in depth. ...
- Tip #2: Get your industry highlight reel ready. ...
- Tip #3: Prep for technical questions first. ...
- Tip #4: Practice with REAL financial statements. ...
- Tip #5: Know what to expect from your target firm.
You hope to gain from this internship valuable work experience, a path towards future career, new skills and connections, as well as industry experience and confidence. An internship is an opportunity to test drive a career without making any serious commitments.
Example: “My expectations involve being able to learn how to identify business problems, how to choose strategies to address these issues, and how to plan and execute the tactics needed to achieve these goals. By learning this, I can gain real-world experience of what it takes to drive business operations forward.”
Intern interview question #1: Tell us a bit about yourself.
We suggest making three brief points along the lines of: 1) your year of study and degree subject; 2) your career aim or what career you're interested in; 3) a hobby or interest that you pursue in your spare time.
Investment banking is essentially a financial service provided by a finance company or a banking division to help large multinational corporations in their investment plans. Along with large companies and organisations, this service also helps high net worth individuals and governments to raise or create capital.
What is the best way to describe investment banking?
Investment banking deals primarily with raising money for companies, governments, and other entities. Investment banking activities include underwriting new debt and equity securities for all types of corporations.
- Tell me about a time when you had a positive impact on a project. How did you measure your success?
- Describe a task that really tested your analytical abilities.
- Tell me about a time when you were confused about details of a request. What steps did you take to clarify things?
- Introduce yourself.
- Identify your goal or purpose.
- Describe your relevant experience, ability to contribute, and uniqueness.
- Wrap it up.
- Engage the person with a question.
- Follow up.
- Practice, practice, practice...then practice some more.
- Research the company. ...
- Look up the interviewer. ...
- Get all the details in advance. ...
- Dress for the job you want. ...
- Decide what you want out of the internship. ...
- Make sure you have a financial plan.
Answer for “Where do you see yourself in 5 years?” “In five years, I see myself as an integral part of the company who has helped contribute to the growth and success of the organization. I would like to continue developing my skills and knowledge in order to be able to take on more responsibility within the company.
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