Interview Preparation for Beginners

[AlexLielacher1]

At the more advanced stages of the application process it is even more important that you show up well prepared to your interviews. Not only because you want to outperform the other candidates but also because you can have sort of a peace of mind going into interviews, knowing you are actually prepared.

Sometimes interviewers like to ask very specific questions to see how much preparation you have done for the interview, thereby gauging how badly you really want to work for their firm.

Here is a list of key things you should research before attending a finance interview.

· The Name Of The Bank’s CEO

I have been asked that at an interview before. This question is sometimes used to throw the candidate off, as it is rather embarrassing if you don’t know the CEO of the bank you are interviewing with.

· The Bank’s Strong Points And Key Products/Services

Every bank has key areas that they are best at or are most known for. Make sure that you know what the bank you are interviewing with is best at.

· Recent News About The Bank

If the bank you are interviewing with has been in the news lately make sure you are aware of what is going on. If the banks is in the news for negative reasons, then it is better you avoid talking about the subject, but know what the news were nonetheless. You might be asked things such as ‘what have you read about XYZ bank recently?’ to check if you have done your research about the bank, and actually are interested in working for them.

· The Bank’s Credit Rating

The creditworthiness of banks has become a big topic since the credit crunch in 2007. So, it’s important that you know what the bank’s credit rating is that you are interviewing for. I have been asked this at more than one interview in the past.

· Yesterday’s closing levels of FTSE100, SP500, Gold, GBPUSD, EURUSD & Oil

Note these numbers down the day before and memorise them. If you are applying for a markets role you will usually be asked yesterday’s closing levels of the S&P500 or the FTSE100. Make sure you know them! Gold, the major currencies and the price of oil can also be asked, depending on who interviews you (and what department or desk they are from).

· The People Who Will Be Interviewing You

This last point can give you serious competitive advantage over those who do not put the time in to research their interviewers. In most cases, graduate recruitment will inform you via email who the people are that will interview you. At that point make sure you research the people via LinkedIn or a simple Google search to find out more about them. Check where they went to university, what sports team they like, what hobbies they have, etc. Their LinkedIn profiles should provide you with quite a bit of information. The idea behind this is that you find commonalities, which you can then use to build rapport with. For example, if you support the same football team or went to the same university, try to throw that into the conversation and build rapport with the interviewer like that.

Obviously, always act in a professional matter, but interviewers also want to get to know you as a person, as you will potentially sit next to them for the next five years and they want to make sure they will get along with you.

 

[Daniel Plainview1]

Recent news about the bank - definitely a good one. This was always one of my strongest weapons during the interview, especially tailoring questions around recent positive events.
A read of the bank's most recent annual report / quarterly statements will also allow you to glean some useful info. Banks have distinct individual cultures,or at least they like to think they do; by learning as much about the bank's mission, its business principles, and financial results, will all provide ample evidence of your interest in working for that particular bank.

 

[SmallCapPM1]

And I would add that going into an interview with a couple of really sensible and relevant questions to ask at the end of the interview makes a lot of sense. For example, have a question ready regarding management strategy in the division you are interviewing to work for. And it is always impressive if you ask a question which involves an understanding of the company's strategy to bring in new assets....

 

[Martin1]

To add to this excellent list, I would say many can remember all this because it is well-documented that you must know this. What people struggle to know is about themselves! People are often very good at churning over stats but often interviewers want to get to know you and therefore questions like "have you ever missed a deadline before?" need to be equally prepared for as well, if not better.

 

[finbyme1]

Another idea is, to ask the interviewer what they like about working for the company so you have an insiders view of the positives. Perhaps even more important is to ask what challenges they face, as chances are you'll be facing them too.

 

[Adolf Hipster1]

Note these numbers down the day before and memorise them. If you are applying for a markets role you will usually be asked yesterday’s closing levels of the S&P500 or the FTSE100. Make sure you know them! Gold, the major currencies and the price of oil can also be asked, depending on who interviews you (and what department or desk they are from).

Should I also the know the price action of these instruments over the past 6-12 months? What stuff like CDS indices am I supposed to know them too?

 

[Trigger1]

I agree with all of the above. Good advice here.

Knowing who interviews you in advance can set you apart from other candidates, if you play your cards smart.