Behavioral_Interview_Guide

BehavioralInterviewGuidePreparationforFinanceInterviewsSecondEditionCopyright2009byWallStreetOasis.com.Allrightsreserved.Allinformationinthisguideissubjecttochangewithoutnotice.WallStreetOasis.commakesnoclaimsastotheaccuracyandreliabilityofthisguideandtheinformationcontainedwithin.Nopartofthisguidemaybereproducedortransmittedinanyformorbyanymeans,electronicormechanical,foranypurpose,withouttheexpresswrittenpermissionofWallStreetOasis.comBuyer:PanpanXiao([e-mail])TransactionID:00C20710V7689311BPage2TableofContentsTableofContentsTableofContentsTableofContentsBEHAVIORALINTERVIEWS......................................................................................................................................................3GENERALTIPS.....................................................................................................................................................................................................................3PREPARATION......................................................................................................................................................................................................................5THEONEQUESTIONYOUWILLGET...GUARANTEED.......................................................................................................8INDUSTRY...................................................................................................................................................................................10ABOUTYOU................................................................................................................................................................................19SITUATIONAL............................................................................................................................................................................37TRICKY........................................................................................................................................................................................48OTHER.........................................................................................................................................................................................52QUESTIONSTOASKYOURINTERVIEWER.........................................................................................................................54Buyer:PanpanXiao([e-mail])TransactionID:00C20710V7689311BPage3BehavioralBehavioralBehavioralBehavioralInterviewsInterviewsInterviewsInterviewsGeneralGeneralGeneralGeneralTipsTipsTipsTipsMostcandidatesapproachingfinanceinterviewsstressoverthetechnicalquestions.However,answeringabehavioralquestionina“lessthandesirableway”orfumblingaroundwithoutalegitimateanswercandoevenmoredamagethanmissingatechnicalquestion.Analystswillspend80+hoursperweekwiththeirco-workers,soprovingyouaresomeonetheywillenjoybeingaroundismoreimportantthanprovingyouknowhowtoworkyourwaythroughadiscountedcashflowmodel.Thatdoesnotmeanthatwesuggestyounotthoroughlyprepareforthetechnicalaspectoftheinterviewaswell!Onceyougetthejob,yourfirmwillputyouthrougharigoroustrainingsession.YourcompanywillassumeyouhavelittlepriorfinancialknowledgesotheyarenotlookingforthenextfinancewizardorCFO—theyarelookingforsomeonetheywillbecomfortableworkingwithforthenexttwoyearsandwhowillbeabletohandlethedemandsofthejob.Firstimpressionsarecrucialsoasyouwalkthroughthedoorandgiveyourinterviewerafirmhandshake,makesuretowearafriendlysmileandrelaxifyouarenervous.Youwon’tdie,wepromise.Trytoturnanynervousnessintopositiveenergythatcanbeinterpretedasenthusiasmfortheposition.Thepersonacrossthetablecouldbesittingthereforeightstraighthoursinterviewing16kidsinarow.He/shewillgetboredifthereisnopassioninyourvoiceandnoconvictioninyourspeech.Thisisnotthetimetoblendintothecrowd.Interviewershave30minutestodeterminewhetherornotyouarefittoworkattheirbankforthenextthreemonthsortwoyears.Technicalskillsareabonus.Butyoucouldanswereverytechnicalquestionperfectly,andthatwillstillnotguaranteeyouthejob.Inthesameway,youcouldhavethebestpersonalityintheworld,andconnectwithyourintervieweroneverylevel.But,ifyoudon’tknowwhatDCFstandsfor,youwillnotgetthejob.Youneedacombinationofsolidtechnicalskillsandappropriateanswerstothebehavioralquestionstolandthejob,especiallyinthistougheconomy.Withintheanswerstoyourbehavioralquestions,thereareafewmainpointsyouneedtobesuretogetacross.AccordingtotheheadofHRataprominentinternationalinvestmentbank,thethreemaintraitsyouneedtoemphasizearethefollowing:1.Youhaveawillingnessanddesiretolearn—Thebankersittingacrossthetablefromyouknowsmorethanyou.Evenifheorsheisafirstyearanalystwithonlythreemonthsonthejob,mostlikelyhehaslearnedmoreinthosethreemonthsthanyoudidinyourfouryearsinundergraduatebusinessschool.Heisfarmoreinterestedinhiringanon-businessmajorwhowantstolearneverythingpossiblethanhiringsomeonewhowenttoWhartonandthinkstheyalreadyknoweverything.Nomatterhowsmartyouare,