职场干货 | 投行面试的TOP8问题及回答思路 好好准备面试的人运气都不会太差!
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准备面试从来都是找工作的重头戏,像投行这种面试时问的问题五花八门更难招架。根据以往数据显示,投50个职位(同一公司相似的职位不算),大约能获得15个初面机会,大约能过一半interview也就是拿到onsite,最终大约能拿到2-3个offer。大部分金融专业的学生都有着一个“投行梦”,那在这种僧多粥少的情况下,自然要加倍付出努力准备,才有可能在面试中脱颖而出。

这个寒冷的周末不知道该干什么?那不如在家好好练习一下面试问题吧!

Technical Investment Banking Questions

Q

If you could use only one financial statement to evaluate the financial state of a company, which would you choose?

Sample Answer: “I would want to see the Cash Flow Statement so I could see the actual liquidity position of the business and how much cash it is using and generating. The Income Statement can be misleading due to any number of non-cash expenses that may not truly be affecting the overall business. And the Balance Sheet alone just shows a snapshot of the Company at one point in time, without showing how operations are actually performing. But whether a company has a healthy cash balance and generates significant cash flow indicates whether it is probably financially stable, and this is what the CF Statement would show.”

Q

How do you value a private company?

Sample Answer: “You can value a private company with the same techniques you would use for a public company but with a few differences that make it more difficult. Financial information will likely be harder to find and potentially less complete and less reliable. Second, you can’t use a straight market valuation for a company that isn’t publicly traded. In addition, a DCF can be problematic because a private company won’t have an equity beta to use in the WACC calculation. Finally, if you’re doing a comps analysis using publicly traded companies, a 10-15% discount may be required as a 10-15% premium is paid for the public company’s relative liquidity.”

Q

When should a company issue equity rather than debt to fund its operations?

Sample Answer: “There are several reasons for issuing stock rather than debt. First, if a company believes its stock price is inflated, issuing stock can raise a lot of capital relative to the ownership sold. Second, if the projects to be funded may not generate predictable cash flows in the immediate future, the company would want to avoid the obligation of consistent coupon payments required by the issuance of debt. Issuing stock is also an effective way to adjust the debt/equity ratio of a company’s capital structure or to monetize the owners’ investment. ”

Q

What is the difference between LIFO and FIFO?

Sample Answer: “LIFO and FIFO are different methods of dealing with inventory and COGS in a company’s accounting policy. With LIFO, the last inventory produced or purchased will be the first to be recognized when goods are sold. With FIFO, the first inventory produced or purchased will be the first recognized when goods are sold.”
Fit Investment Banking Interview Questions

Q

What are you looking for in this job?

Sample Answer: “I am going into this as an unparalleled learning experience. Everyone I have spoken with in the industry tells me you learn everything on the job. While my undergraduate studies prepared me for business, I know that most of the skills I need will be acquired on the job. I understand the hours and the workload, and I want to work incredibly hard to gain real world experience that isn’t available in any other profession at this stage in my career. I know these skills will prepare me for anything I want to do later in my career.”

Q

What makes you think you can put up with the stress, pressure, and long hours of a career in finance?

Sample Answer: “I feel I am as prepared as anyone else coming out of college to handle the long hours. In fact, when you add up all the time I spent doing all my different activities, school hours were almost as long. Every day I was up at 7:30 for classes that ran from 8:15 until 1:00. After class, I would grab lunch and then go to golf practice, which didn’t get me back until 5:00. Then I would grab dinner, and work in either my room or the library until I was done, which usually wasn’t until pretty late at night or into the morning. While I know it isn’t the same stress and time commitment as finance requires, I feel my experience has left me well prepared.”

Q

What is the most intellectually challenging thing you have done?

Sample Answer: “In my internship last year, I was responsible for aggregating data my company collected and summarizing it using Microsoft Excel. When I started, the analysts on the team had been doing the aggregating, manually collecting all the data, applying formulas, etc. It seemed like they were wasting a lot of time. I had a little bit of experience with VBA, and over the course of about a week, I taught myself to automate the entire process whenever new data became available. It was great that as a summer intern I was able to implement a system that is still saving time today. ”

Q

What do you like to do in your free time?

Sample Answer: “In my free time at school, I like to do things that allow me to spend time with my closest friends. I am a huge sports fan, so we just watch games in our apartment or maybe go out to a restaurant or sports bar. We will even go to a game live if we can get tickets. I also try to stay healthy, so I spend some of my free time in the gym.”

Sample Answer只是给大家提供一个基本思路,该如何去组织自己的回答,该从什么角度去回答。俗话说“台上一分钟,台下十年功”,当你羡慕别人顺利通过面试拿到offer的时候,你永远不知道他们在背后付出的努力。