Why do you want to do investment banking?
Expect this question in every single interview - so be prepared and have a good answer ready.
But other guides do a poor job of guiding you on how to answer this question.
-You want to learn a lot.
-You like corporate finance.
-You like a fast-paced environment.
None of these is "wrong" - the problem is that they're too generic, and they don't set you apart from other prospective bankers.
But if you want to succeed in interviews, you'll have to be more memorable and give answers that make the other person actually like you.
You can accomplish this with the "Big Picture" method or the "Slice of Life" method.
If you're a career changer, you don't have a finance background, or you can't think of anything specific that made you interested in finance, use the "Big Picture" method.
The formula is: Background in One Field + Experience in Finance = Long-Term Success.
Maybe you're a healthcare policy analyst and you want to combine your industry knowledge with investment banking so you can advise companies one day; or maybe you're an engineer who wants to go into venture capital, combining technical knowledge with finance.
If you don't have "long-term goals," then make up some to fit the situation - just make sure you're consistent with what you tell interviewers.
The "Slice of Life" method is better if you've had solid finance experience.
With this one, you start off with the event that made you interested and then explain how that interest developed over time.
-You saw your parents day-trading when you were younger, so you then decided to start trading your own account, following the market, and doing a few investment internships.
-You met top female executives at banks in a summer camp, which made you look into the field more seriously.
Feel free to combine both of these methods, as well - just make sure your story doesn't go on for 5 minutes.
Aim for a 20-30 second elevator pitch and you'll be ahead of 90% of prospective bankers.
Expect this question in every single interview - so be prepared and have a good answer ready.
But other guides do a poor job of guiding you on how to answer this question.
-You want to learn a lot.
-You like corporate finance.
-You like a fast-paced environment.
None of these is "wrong" - the problem is that they're too generic, and they don't set you apart from other prospective bankers.
But if you want to succeed in interviews, you'll have to be more memorable and give answers that make the other person actually like you.
You can accomplish this with the "Big Picture" method or the "Slice of Life" method.
If you're a career changer, you don't have a finance background, or you can't think of anything specific that made you interested in finance, use the "Big Picture" method.
The formula is: Background in One Field + Experience in Finance = Long-Term Success.
Maybe you're a healthcare policy analyst and you want to combine your industry knowledge with investment banking so you can advise companies one day; or maybe you're an engineer who wants to go into venture capital, combining technical knowledge with finance.
If you don't have "long-term goals," then make up some to fit the situation - just make sure you're consistent with what you tell interviewers.
The "Slice of Life" method is better if you've had solid finance experience.
With this one, you start off with the event that made you interested and then explain how that interest developed over time.
-You saw your parents day-trading when you were younger, so you then decided to start trading your own account, following the market, and doing a few investment internships.
-You met top female executives at banks in a summer camp, which made you look into the field more seriously.
Feel free to combine both of these methods, as well - just make sure your story doesn't go on for 5 minutes.
Aim for a 20-30 second elevator pitch and you'll be ahead of 90% of prospective bankers.
About the Author:
Riyan Richter blogs about the career search process, how to successfully network, and how to get into the finance industry at Mergers & Inquisitions, the web's leading resource for investment banking and answering the why investment banking question in interviews.
0 comments:
Post a Comment