Investment Banking Career - Should You Ask Questions During An Investment Banking Interview?

by Sherman Choo

Asking a basic question about what it is your job would entail at your interview could potentially destroy your application. It simply means that you came unprepared and all the good grades you have on your transcript will go unnoticed. There are a dozen more applications with equally good if not better grades so to really stand out, you'll need to present yourself with short, crisp, answers that reflect your understanding of the industry.

For example, when an interviewer from Merrill Lynch asks, "Do you have any questions?" And you pose a query, "What is the job scope for analyst in corporate finance/sales/ trading/research/operations/technology?"

How do you think that reflects in the mind of the interviewer?

Now, you could pose that question to a friend who is in the industry, but it is not safe to pose this question to the interviewer because it potentially demonstrates your ignorance of the industry. Your friend is there to help you; the interviewer is there to chop candidates from the list.

Understanding the mindsets of people is the key to asking the right questions and success to life in general. Knowing why different questions attract different responses from different people is crucial. Don't leave it to chance or the mood of the interviewer on that day to decide what to think of you. Take control of your own interview and be prepared.

You need to know what your role's description is, what hours you will be working, what type of clients you would be working with (if applicable) and what the day-to-day activities and responsibilities will be as an analyst in your division.

This boils down to research, and here are some ways to do it.

Information Research #1: Go to the firm's website. Make sure you read the profiles of people in your division at the firm. Learn about the division you are applying for IN DETAIL and what your job would involve.

Information Research #2: Go to similar firms' websites and read their descriptions of the role. Some firms' definitions or names of divisions can be different, but it will give you an understanding and jargon the industry uses.


For example, if you have a sales & trading interview at Merrill Lynch, go to Goldman Sachs website and learn how that division is described on their website. By using some of the insider words use to describe a similar position, you'll find yourself more natural and eloquent at your interview, leaving the impression that you UNDERSTAND the job. Also, you'll have additional investment banking vocabulary that other interviewees would not have.

Information Research #3: Speak to friends, seniors who you know ALREADY work in your desired division and offer to buy them tea. Offer value before taking and in this case during the meetup, you'll have a chance to ask about their day-to-day role. With this knowledge, you will be able to give your interviewer an impression that you know what you're in for and importantly, ready to contribute.

And at your interview, mention that you spoke to this particular person and you were interested in what he/she told you.

Have an attitude that you're there to contribute to the team. And you'll jumpstart your investment banking career. Another good resource is the Investment Banking career guide at http://www.mdmbiz.com/investmentbanking

To get your Investment Banking career started quickly upon graduation, visit http://www.mdmbiz.com/investmentbanking

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