The finance industry has always been competitive, and one of the most important factors in getting a job is to make a good impression in your interview. If you are not able to portray in your interview as someone who can do the job and will fit in at the company, you stand very little chance of getting hired, no matter what your experience, credentials or references are. Opportunities in a finance career can be broadly segregated into several categories, most prominently being commercial banking, investment banking, asset management,corporate finance, venture capital and private equity. The interviews for each of these industries are very similar. Hence, we bring to your The Finance Interview Guide.
The Finance Interview Guide
There are normally two parts to the hiring process:The fit part – it is where the firm gauges whether you fit into their group’s culture. The interviewer will try to figure out your attitude towards work, your interest in a career in the industry, and your interest in the job for which you are applying. As you go through subsequent rounds of interview, understand that you are competing with yourself. Most firms are flexible enough to hire people whom they find to be a good fit.
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The Fit
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The Technical Aspect
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The Big 4 Qualities
Hard worker
It’s a given that you should stress upon how hard you have worked in the past, citing instances of your ability to take on a lot of work and hardships with the caveat of not conjuring up things or pretend to be someone you are not. Trust the interviewer to see through such blatant lying! Be honest about the spiteful aspects of the job, for example, the long hours of work, and convince the interviewer that you can manage it well.
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The Hardworker
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A safe pair of hands
| A safe pair of hands
Like any other interview, such interviews will be focused on figuring out if you can handle the responsibility that comes with the position. The people with a safe pair of hands are the ones who inevitably rise up the ranks in the company. They may not necessarily be the hardest workers but ones who exhibit competence the most. Try to bring up examples of assuming responsibility and executing complex and detail-oriented jobs in a proper manner.
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An analytical mind
The world of finance revolves around substantial number crunching and this requires analytical ability. You need not be a genius mathematician; you only need to have an analytic mind in order to succeed. Try to showcase examples of your problem-solving and analytic strengths, especially ones involving quantitative analysis.
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Analytical mind
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Team Work
| Team player
Teamwork is a popular adage for employers in all industries. Almost every finance position requires an employee to work closely with others. Interviewers will ask questions to ensure that you have experience and have excelled in situations involving the team.
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Preparing for finance interviews
To start off with, you should evaluate if you actually want to be in finance, i.e., you should know what you are getting into. Not only is this for your own sake, but also your interviewer wants to know whether you understand the position and the industry.
You should make use of non-evaluative settings (that is, not an interview) to find out if finance is for you. Make it a point to attend recruiting presentations by firms on campus. Informational interviews with alumni and seniors in your institute are also good ways to obtain answers to some of your questions and have a clearer picture. The results from your interaction with alumni can be good provided you prepare well before contacting them, are sufficiently informed, ask sincere questions, and show proper respect.
After having a fair idea about the financial landscape, you should now filter your research to specific firms. This will help you to know the firms to target, and to have sufficient knowledge for your interviews. For written materials, you may start with business newspapers like The Economic Times, The Financial Times; and general business publications like The Economist, The Wall Street Journal, and BusinessWeek. You may also read about company profiles on websites like www.vault.com as well.
Following are some questions about positions in finance that you should ask before your first interview:
- What is a typical day at work like?
- What are the hours in the industry on an average? Is it the same for every firm in the industry?
- How do people handle lifestyle issues in this industry?
- What kind of money do people make out there?
- What are the things these people like about their jobs and ones they would like to change?
- What is the road ahead for the industry in the next few years?
- What is the career path in the industry? What skills are necessary at various stages?
- What is the culture of a typical finance firm as compared to a start-up or a Fortune 500 company in a non-finance sector?
- What are the exit opportunities available after 2, 5, or 10 years in this industry?
Checklist
Prepare questions
Interviewers often ask candidates if they have any questions. In order to avoid getting stumped, try to have a fair knowledge about the firm, its key persons and lines of businesses,the industry and prepare some intelligent questions.Also, when in doubt, you may ask the interviewers to talk about themselves or their experiences with questions like, “Tell me about your typical day-to-day responsibilities in your firm” or “Elaborate on your career path”.
Hope this helps you gain a basic understanding of what is expected in a Finance interview and how to go about preparing for the same during Summers or Final Placements.
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