Behavioral Flashcards

1
Q

Tell me about your strengths and weaknesses.

A

Strengths:

  1. Attention to detail
  2. Work ethic
  3. Writing / communication skills

Weaknesses:

  1. Lose the forest for the trees / bogged in detail
  2. Taking on more than I can handle
  3. Lack of experience
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2
Q

Tell me about a time you were on a team and there was a conflict. How did you handle it? What role did you play? Tell me about a difficult teammate?

A

As president of JD/MBA Ass’n, led a 12-person student trip to Lisbon. Two roommates were disagreeing about whether they were splitting work fairly, leading to problems. I played the broker: invited them to dinner and we hashed it out, avoiding a potentially ugly situation.

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3
Q

What concerns do you have about banking?

A

With the summer behind me, not much. I think I can handle the hours.

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4
Q

An analyst is leaving to join a PE fund - how do you motivate them?

A

Pitch them on reputational harm: your reputation is hard to build and easy to destroy, so don’t let your hard work go to waste by losing sight of the present.

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5
Q

Why our bank? What other banks are you interviewing with? Where are we on the list?

A
  • [For all boutiques] - size, quality and culture.
  • A few boutiques with strong RX
  • [Depends] - high / in the running
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6
Q

I am about to go list out candidates. Is there anything you want to leave me with?

A

I’m a great choice to fill your RX ASO position because I have relevant skills (e.g., credit, legal) and a demonstrated interest in the field.

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7
Q

Can you handle the hours? What were the hours like at your previous job?

A

Yes. An average of 90/week this summer. Similar expectations when I was contemplating BigLaw.

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8
Q

What is the risk for us in hiring you?

A

Age / inexperience. However, I make up for it with discipline and willingness to learn - wasn’t an issue for CS.

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9
Q

Favorite thing about finance?

A

It is always evolving and at the fore, so there’s always something new to learn.

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10
Q

Talk about a time you’ve had to take a risk.

A

Re-recruiting right now risks my offer at CS, but I think the upside is worth it.

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11
Q

Talk about some multiples for different industries.

A
  • Airlines / retail: EV / EBITDA
  • Auto: EV / EBITDAP[ensions]
  • Exploration / oil: EV / EBITDAX (exploration)
  • Tech: EV / Unique visitors, EV / page views
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12
Q

What would your best friend say annoys him most about you?

A

I can sometimes be demanding. I set high expectations for myself and expect the same of others, but that isn’t always reasonable - different people are good at different things, so expectations have to account for that.

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13
Q

Tell me about a deal you’re following.

A

LSE’s acq. of Refinitiv:

  • $27B in TEV ($14.5B for equity, paid in stock; $12.5B in assumed debt)
  • Shows exchange business is revolving. Given decreasing margins in that business, exchanges are selling market data as add’l revenue streams. See ICE & NASDAQ deals.
  • Interesting given Refinitiv was just carved out of Thomson REuters for $17B last year - Blackstone may have been able to extract more value using its extensive banking and buy-side contacts.
  • Positive market reaction for LSE suggests they paid less than they could have and synergy value is preserved. Claiming 350M/yr (pounds) in cost saves.
  • Integration risks (headcount), above-target leverage and antitrust concerns
  • GS/MS advising LSE, Evercore, Canson Capital and Jefferies advising Refinitiv.
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14
Q

What was your favorite class and why?

A

Cases in Bankruptcy and Reorganization with Max Holmes. Socratic method-based discussion of six large bankruptcies, culminating in a group research report on which post-bankruptcy security you’d rather own, and why. Cool way to assess students.

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15
Q

Why banking?

A

The notion of being a company’s trusted adviser and helping with its most demanding issues excites me.

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16
Q

What angers you?

A

When people don’t want to get better. Making mistakes is normal and even desirable, but it’s frustrating when someone makes mistakes and doesn’t care to improve from them, especially in a team setting.

17
Q

Describe your leadership style.

A

Lead by example - don’t ask people to do anything I wouldn’t do myself, and be with them in the trenches.

18
Q

Tell me about a time you had to deal with a dysfunctional team member.

A

This summer, I was staffed with a summer analyst who essentially disengaged herself from the deal. I tried getting her to help, but she considered herself too busy to help. Rather than complain, I did the work myself because it had to get done.

19
Q

Banking equals lots of hours - why should I feel comfortable that you would be able to handle the hours?

A

It was not an issue this summer and I was gearing up for similar hours when I was contemplating BigLaw.

20
Q

What is your value proposition? Why should I hire you over some of the other candidates here today?

A

For a restructuring group, I’m the ASO candidate who offers a combination of credit skills, legal skills and a demonstrated interest in restructuring. I may have less of the learning curve to climb than others.