"#$%&'(%#' )*#+"#,

-%.-/"'"#,
*&&0."*'% "#'%-$"%1 ,/"2%

!"#$%#& () *+&#", -./0& 1,&.2%") 345#"%2 6 !$"##" !+$78#29 :$"$ ;."/$, 6 <$"+, ;."/$,
=5"/,- >?@A




1hls documenL has been creaLed by modern gulld AcceleraLlon llnance Career Coaches & lndusLry
LxperLs LhaL have gone Lhrough Lhe rlgorous assoclaLe lnvesLmenL banklng recrulLlng process. 1he
maLerlal ls meanL Lo provlde asslsLance and preparaLlon for modern gulld proLeges who are abouL Lo go
Lhrough Lhe process.
age @ of @>

!"#$% '( )'*+%*+,
8LC8ul1lnC CvL8vlLW ............................................................................................................................... 2
WPA1 ?Cu nLLu 1C knCW 8LlC8L ?Cu S1A81 ........................................................................................ 4
1PL C8Cu ............................................................................................................................................... 4
?Cu8 l1CP .............................................................................................................................................. 4
lnlC8MA1lCnAL ln1L8vlLWS ..................................................................................................................... 6
CuLS1lCnS ?Cu A8L vL8? LlkLL? CClnC 1C 8L ASkLu ln An lnlC8MA1lCnAL ln1L8vlLW ............... 6
SAMLL lnlC8MA1lCnAL ln1L8vlLW CuLS1lCnS ?Cu CAn ASk .......................................................... 7
1PL ln1L8vlLW ............................................................................................................................................ 8
u8LSS CCuL ................................................................................................................................................. 9
WCMLn .................................................................................................................................................... 9
MLn .......................................................................................................................................................... 9
CCMMCnL? ASkLu ln1L8vlLW CuLS1lCnS ............................................................................................. 10
Auul1lCnAL CCMMCnL? ASkLu ln1L8vlLW CuLS1lCnS .................................................................... 10
Auul1lCnAL ln1L8vlLW 8LSCu8CLS .................................................................................................... 11
CLnL8AL AuvlCL Anu Auul1lCnAL lnlC8MA1lCn ................................................................................. 12


age > of @>

-.)-/0!012 34.-40.5
1here ls good news and bad news wlLh lnvesLmenL banklng. 1he [ob ls one of Lhe mosL lnLeresLlng and
rewardlng careers ln llnance. no Lwo days wlll be Lhe same and you'll always have someLhlng Lo do.
8anklng ls a cllenL servlce buslness and provldes Lhe opporLunlLy Lo Lravel Lhe world meeLlng wlLh cllenLs
and worklng alongslde exLremely LalenLed lndlvlduals. 1he buslness ls drlven by deal LransacLlons, and
bankers wlll always be ln search of securlng Lhe nexL deal. 1here ls a loL of work LhaL goes lnLo Lhe deal,
buL Lhe poslLlve rewards are exponenLlal. 1he sklllseL and amounLs of responslblllLy wlll open several
doors for you should you declde Lo leave banklng and pursue anoLher poslLlon ln llnance.
We won'L sugarcoaL Lhe recrulLlng process. lf you do noL aLLend a core recrulLlng school for Lhe banks,
your efforLs wlll be self-dlrecLed and you wlll mosL llkely shell ouL for several fllghLs Lo new ?ork ln order
Lo neLwork wlLh bankers.
Whlle Lhls ls an lnformal and Lough process, you have Lhe ablllLy Lo showcase your perseverance and
deslre Lo work ln banklng. A banker llkes noLhlng more Lhan Lo meeL a quallfled candldaLe eager Lo work
ln Lhe lndusLry. 1hls ls a poslLlve for you!
Many banks recrulL heavlly for Lhelr summer lnLernshlp programs Lo feed Lhe full-Llme assoclaLe pool.
Pence, banks may noL have formal recrulLlng processes for Lhelr full-Llme assoclaLe hlrlng and lnsLead
focus Lhelr efforLs. lf you are pursulng a full-Llme poslLlon, Lhe Llmlng wlll be acceleraLed wlLh offers
glven as early as november.
lor Lhe summer lnLernshlp process, you need Lo be aware of whaL you are up agalnsL. Core recrulLlng
schools have a formal lnLervlew process LhaL beglns ln AugusL or SepLember and goes Lhrough !anuary
or lebruary of Lhe followlng year. 1hese schools wlll have Lhe banks come onLo campus Lo dellver a
flrm-wlde presenLaLlon and allow sLudenLs Lo neLwork wlLh currenL bankers. lollowlng flrm-wlde
presenLaLlons, lnformaLlonal lnLervlews, lnlLlaLed by Lhe sLudenLs, are conducLed. Schools LhaL are close
Lo new ?ork ofLen have sLudenLs conducLlng lnformaLlonal lnLervlews face-Lo-face. 8elow ls a sample
summer lnLernshlp Llmellne of whaL a core recrulLlng school may go Lhrough.
age A of @>


knowlng Lhls process glves you awareness of when you need Lo sLarL your own neLworklng and
lnLervlew process for your summer lnLernshlp or full-Llme assoclaLe poslLlon.

llrm-wlde
presenLauons
- SepLember - CcLober
lnformauonal
lnLervlews
- CcLober - november
lnvlLe Cnly LvenLs
- november -
uecember
SubmlL 8esumes/
Cover Leuers
- november -
uecember
lnLervlews and Cers
- !anuary -
May
age B of @>

567! 83/ 1..9 !3 :135 ;.<3-. 83/ =!7-!
1hls secLlon ls Lo help you ldenLlfy Lhe key areas before you sLarL Lhe lnLervlew process. ?ou should read
Lhls secLlon before reachlng ouL Lo people.
!6. 2-3/>
ldenLlfy lf you wanL Lo work wlLhln a producL group or an lndusLry coverage group. knowlng Lhls wlll
sLreamllne and mlnlmlze your neLworklng efforLs.

roducL groups - roducL groups are Lyplcally less cllenL faclng Lhan lndusLry groups and wlll
supporL an array of lndusLrles. 1he Lypes of groups can vary beLween Lhe banks, buL Lhe maln
groups wlll be:
o LqulLy CaplLal MarkeLs
o uebL CaplLal MarkeLs
o Leveraged llnance
o M&A*
o llnanclal Sponsor*
lndusLry coverage groups - lndusLry coverage groups are cllenL faclng and serve as Lhe maln
polnL of conLacL beLween Lhe bank and Lhe cllenL. lndusLry coverage wlll speclallze ln an
lndusLry buL supporL a varleLy of producLs. Agaln Lhe groups wlll vary across banks, buL Lhe maln
ones wlll be:
o Consumer & 8eLall
o Lnergy & ower
o lndusLrlals
o llnanclal lnsLlLuLlons
o Camlng, Lelsure and 1ransporLaLlon
o PealLhcare
o Medla & 1elecom
o 8eal LsLaLe
o 1echnology
*M&A ooJ lloooclol 5poosots coo be o bybtlJ of ptoJoct ooJ loJostty covetoqe. 5ome books
bove oo M&A fooctloo wltblo eocb loJostty qtoop wblle otbets keep lt os o stooJ-olooe ptoJoct
qtoop.

83/- >0!)6
?ou should have a plLch LhaL summarlzes your background, lnLeresL ln banklng, and your lnLeresL ln
worklng for a parLlcular group wlLhln Lhe bank. 8ankers have shorL and varylng aLLenLlon spans, so you
need Lo have mulLlple verslons of your plLch for dlfferenL slLuaLlons.
2-mlnuLe plLch - used durlng lnformaLlonal and formal lnLervlews. Conclsely explaln your
background before buslness school, whaL has broughL you Lo banklng, and a few LhoughLs on
why you feel you would be a good flL wlLhln LhaL bank and/or group.
age C of @>

30/60-second plLch - used aL neLworklng evenLs and poLenLlally ln formal lnLervlews when
requesLed by Lhe banker. keep Lhe formaL Lhe same as Lhe 2-mlnuLe plLch, however only
hlghllghL Lhe key lLems such as your prevlous [ob and Lhe group(s) you are pursulng wlLhln Lhe
bank.
We cannoL sLress enough Lhe lmporLance of pracLlclng your plLch. uurlng an lnLervlew, a banker wlll Lry
Lo make you nervous, havlng a perfecLed plLch wlll help seL you aparL from oLher candldaLes. lL should
sound naLural and noL Loo rehearsed. 8elow ls an example of a 2-mlnuLe plLch.
nl, my oome ls cbotlle 8towo ooJ l om ftom Cteeosboto, Nottb cotolloo. lve olwoys eojoyeJ
motb ooJ wbeo lt come tlme to JeclJe colleqes, l foooJ Ceotqlo 1ecb to be o oototol flt. l
tecelveJ o Jeqtee lo loJosttlol oqloeetloq. Ooe of my most fovotlte octlvltles wblle ot 1ecb wos
beloq o Motb 1A, l koow, polte o oetJ! 8ot wbot l JlscoveteJ wos tbot l teolly eojoyeJ wotkloq
wltb people to solve o ptoblem. wbeo l qtoJooteJ, l JeclJeJ to potsoe bosloess coosoltloq wltb
ueloltte coosoltloq lo Atlooto. ueloltte bos o 2-yeot tototloool ptoqtom fot ooolysts wblcb
olloweJ me to wotk wltblo o votlety of loJosttles ooJ bosloess fooctloos. lve wotkeJ wltb
clleots lo feJetol ooJ stote qovetomeots, coosomet ptoJocts, pbotmoceotlcols, ooJ beoltbcote.
Oo tbe mojotlty of tbese ptojects l wotkeJ wltb tbe lloooce otqoolzotloo ooJ become
locteosloqly lotetesteJ lo tbe tole lloooce ployeJ wltblo tbe compooles. l tblok lt wos slmllot to
beloq oo eoqloeet ooJ flqotloq oot tbe pleces of tbe pozzle tbot lloooce sopplleJ to tbe test of
tbe otqoolzotloo. lt wos tbeo tbot l teollzeJ l wooteJ to moke tbe ttoosltloo ftom coosoltloq loto
lovestmeot bookloq ooJ wotk wltb clleots to belp tbem solve tbelt lloooce-teloteJ ptoblems. 1o
moke tbls ttoosltloo, l lookeJ ot scbools wltb stellot lloooce ptoqtoms tbot woolJ ptovlJe me
wltb tbe tools ooJ tesootces to be soccessfol. wblle l wos o coosoltoot, l speot tbe lost two yeots
of my tlme tbete wotkloq wltblo tbe coosomet ltoJocts loJosttles. wltb my expetleoce lo clleot
setvlce ooJ wltblo tbe coosomet loJostty, l om potsoloq tbe coosomet & ketoll qtoop. l bove
Jooe exteoslve teseotcb ooJ koow tbls books c&k teom ls ooe of tbe best oo tbe stteet. AoJ
tbot ls wbot btloqs me bete toJoy.
1he key Lhlng wlLh any plLch ls readlng Lhe lnLervlewer's body language. lf (s)he appears bored, Lry Lo
cuL ouL Lhe unnecessary deLalls and emphaslze why you are Lhere and why you would be a good flL. A
banker always llkes Lo hear hls/her bank ls Lhe besL and LhaL you have done your research lnLo Lhe
league Lables.

age D of @>

01<3-?7!0317@ 01!.-40.5=
lnformaLlonal lnLervlews provlde a Lwo-way opporLunlLy for you Lo geL Lo know Lhe bank and for Lhe
bank Lo geL Lo know you. 1hey are scheduled and lnlLlaLed by ?Cu. uo noL schedule an lnformaLlonal
lnLervlew unless you are prepared for a formal lnLervlew. 8ankers may say Lhese are lnformal and you
can ask whaLever quesLlons you llke, buL beware - Lhese are mosL deflnlLely lnLervlews and can
negaLlvely lmpacL your candldacy. We have provlded sample quesLlons you can ask ln an lnformaLlonal
lnLervlew.
lnformaLlonals can be conducLed by a banker from any senlorlLy level, Lhough mosL commonly lL wlll be
wlLh an assoclaLe or v. Cccaslonally, and dependlng on Lhe bank, a managlng dlrecLor may conducL Lhe
lnLervlew or even an analysL.
8e prepared Lo recelve Lough quesLlons from bankers ln an lnformaLlonal. lf you are comlng from a non-
core school, Lhls may be an opporLunlLy for Lhe banker Lo LesL you on anyLhlng and everyLhlng you may
recelve ln a formal lnLervlew. CuesLlons can range from Lraclng a depreclaLlon change across Lhe Lhree
sLaLemenLs Lo grllllng you abouL why you wanL Lo do banklng.
1he besL way Lo prepare for Lhese lnformaLlonals ls Lo pracLlce, pracLlce, pracLlce. Work LogeLher wlLh
oLhers from your school who are also lnLeresLed ln banklng. Worklng LogeLher ls a musL. All of us who
wenL Lhrough Lhls process wlll agree LhaL you cannoL handle worklng on Lhls alone. ?ou wlll be mosL
successful when worklng ln Leams.
ln addlLlon Lo knowlng your plLch and Lechnlcal, be up Lo daLe on currenL evenLs, especlally recenL deals
LhaL parLlcular bank has parLlclpaLed ln.
E8+,# F#%G+"H/,-
hone call lnformaLlonal lnLervlews may be mosL pracLlcal glven Lhe dlfference ln locaLlons. Schedule
phone calls only when you cannoL make lL ln person. We recommend maklng aL leasL one Lrlp Lo new
?ork Lo meeL wlLh bankers as face-Lo-face lnLeracLlons are always preferred. When conducLlng Lhe
phone call, keep ln mlnd you may be expecLed Lo lead Lhe call. LeL Lhe conversaLlon flow naLurally buL
also have speclflc quesLlons ln mlnd LhaL you would llke Lo ask. We recommend keeplng Lhe
conversaLlon llmlLed Lo 30 mlnuLes or less, buL aL leasL 10 mlnuLes. repare 3-6 quesLlons LhaL you
would llke answered LhaL you can qulckly ask should a conversaLlon lull come up.

A/.=!031= 83/ 7-. 4.-8 @0:.@8 23012 !3 ;. 7=:.9 01 71
01<3-?7!0317@ 01!.-40.5
Walk me Lhrough your resume
1ell me abouL yourself
Pow do you llke buslness school?
Why are you here?
WhaL classes are you Laklng?
WhaL groups are you lnLeresLed ln?
age I of @>

Pow would you descrlbe Lhe landscape of lnvesLmenL banklng?
Conslderlng Lhe currenL economlc envlronmenL, why are you sLlll lnLeresLed ln lnvesLmenL
banklng?
WhaL quesLlons do you have for me?
=7?>@. 01<3-?7!0317@ 01!.-40.5 A/.=!031= 83/ )71 7=:
1he lnformaLlonal ls an opporLunlLy for you Lo learn more abouL Lhe bank and hlghllghL LhaL you are
aware of whaL Lhe [ob wlll enLall. Pere are a few sample quesLlons you can ask:
Why dld you choose Lo [oln 8ank x?
WhaL has been your favorlLe deal Lo work on?
WhaL seLs an average summer assoclaLe aparL from an ouLsLandlng one?
WhaL are Lhe quallLles LhaL you feel make a greaL summer assoclaLe?
Pow many summer assoclaLes were hlred lnLo Lhe group lasL summer?
l am very lnLeresLed ln Lhls Croup aL Lhls 8ank. ls Lhere anyone else you recommend l speak wlLh?

age J of @>

!6. 01!.-40.5
8ankers use Lhe lnLervlew Lo help Lhem answer key quesLlons abouL you:
Wlll you be able Lo do Lhe [ob? (Level of compeLence and aware of Lhe long hours)
Are you llkeable and dependable? (Level of flL)
Wlll you serlously conslder an offer? (Level of lnLeresL)
1hey wlll be searchlng lf you have any of Lhe common quallLles seen ln successful bankers:
Lxcellence
o 8ecord of success / hlgh achlever
o uemonsLrable lnLellecLual capaclLy
o Plgh sLandards / amblLlon / drlve Lo excel
resence and rofesslonallsm
o lnsplrlng LrusL / confldence ln oLhers (parLlcularly cllenLs)
o ArLlculaLe
o Cood [udgmenL
o Commerclal sense
ALLlLude
o leasanL Lo be around
o Sense of humor
o CommlLmenL Lo learnlng new Lhlngs
o MoLlvaLed and hard worklng
1eamwork
o CommunlcaLes and works well wlLh oLhers
o 8especLful Lo Lhose above and below
o AdapLable
Leadershlp
o lnlLlaLlve (ablllLy Lo make conLrlbuLlons and add value)
o AblllLy Lo geL resulLs
uependablllLy
o ALLenLlon Lo deLall
o AblllLy Lo work hard, mulLl-Lask, and handle pressure
o lnLegrlLy
ln preparlng for Lhe lnLervlew wlLh a bank, lL may be helpful Lo creaLe a cheaL sheeL" LhaL conLalns a
few LldblLs on Lhe bank, llsLlng of bankers you've spoken wlLh, and anecdoLes from your resume. 8ank
LldblLs could lnclude markeL cap, sLock prlce, key leadershlp (l.e., CLC), and recenL deals.
8e prepared Lo answer boLh behavloral and Lechnlcal quesLlons, as well as bank speclflc quesLlons
lncludlng someLhlng along Lhe llnes of Why Lhls bank over anoLher bank on Lhe sLreeL?"
age K of @>

9-.== )39.
We've complled a few Llps for Lhe lnLervlew - remember you always presenL an lmage Lo Lhe banker aL
each lnLeracLlon - make lL a good one!
53?.1
A panL sulL or sklrL sulL are boLh approprlaLe. ?ou can'L go wrong wlLh a black, navy, or dark gray
solld colored sulL. alrlng your sulL wlLh a solld whlLe or sLandard color (l.e., blue) dress blouse
or collared long sleeve shlrL works besL.
8emember Lo wear deodoranL and perfume. 1he lnLervlew rooms are small and overpowerlng
smells become very evldenL very qulckly.
ConservaLlve dress shoes LhaL are closed ln Lhe fronL and back, solld color Lo besL maLch your
sulL are approprlaLe. lL's ofLen recommended Lo wear heels, [usL noLhlng Loo hlgh.
lf you have belL loops on your sklrL or panLs, wear a belL.
llngernall pollsh should be LasLeful and professlonal. Avold bold and brlghL colors. lf you don'L
llke pollsh, make sure your nalls are groomed.
?our halr should be done LhaL besL sulLs you and wlll noL geL ln Lhe way. lL's been recommended
Lo wear your halr off and away from your face, such as pulled up. Palr LhaL's down and ln Lhe
face can become a dlsLracLlon for boLh you and your lnLervlewer.
!ewelry should be LasLeful and approprlaLe. A pearl necklace and/or earrlngs always looks nlce.
?.1
A sulL ln black, dark/navy blue or dark gray palred wlLh a whlLe collared shlrL works besL. 1ry Lo
avold anyLhlng LhaL ls Loo flashy, such as sLrong plnsLrlpes. Also avold wearlng panLs and a
blazer LhaL are noL Lhe same colors - lL's besL Lo lnvesL ln a sulL or Lwo for lnLervlewlng.
8emember Lo wear deodoranL and cologne. 1he lnLervlew rooms are small and overpowerlng
smells become very evldenL very qulckly.
A sllk or sllk-blend Lle looks besL wlLh a sulL because Lhe sllk makes a nlce knoL Lhan oLher
fabrlcs. 1he Lle should end ln Lhe cenLer of your belL buckle (and noL above Lhe wasLe or down
Lo your croLch!)
?our socks should maLch Lhe color of your sulL and should be dress socks.
Shoes should be pollshed and maLch Lhe color of your sulL. ConservaLlve wlngLlp or cap-Loe are
always good cholces.
lf you have belL loops on your sklrL or panLs, wear a belL.
?our halr should be neaLly Lrlmmed or cuL prlor Lo Lhe lnLervlew.
Clean-shaven ls recommended, or aL leasL well-groomed faclal halr.

age @? of @>

)3??31@8 7=:.9 01!.-40.5 A/.=!031=
1he lnLervlew wlll mosL llkely be separaLed lnLo behavloral flL" quesLlons and Lechnlcal quesLlons.
1hough keep ln mlnd LhaL even durlng Lhe Lechnlcal quesLlonlng, you are belng evaluaLed on your flL"
for Lhe bank and/or group.
Cne oLher key Lhlng Lo keep ln mlnd: you are ln Lhe drlver's seaL when asked a quesLlon. ?ou can reveal
as much or as llLLle as you wanL and drlve Lhe conversaLlon wherever you'd llke. 1ry Lo sLay on a Loplc
LhaL ls relevanL Lo Lhe banker across from you. A noLe of cauLlon: do noL Lalk abouL someLhlng lf you are
noL 100 confldenL ln Lhe facLs. 1he worsL lnLervlews are when candldaLes aLLempL Lo Lalk abouL a Loplc
Lhey are noL wholly famlllar wlLh and ls called ouL by Lhe banker.
!"#$ &' ()*+,-) .+,* *'/,&'0 1hls quesLlon, or a varlaLlon, wlll come up aL some polnL durlng
Lhe lnLervlew. 1hls can be slmllar Lo your plLch you developed. 8emember Lo pracLlce! A bad
walk-Lhrough rambles and aLLempLs Lo explaln every bulleL on your resume.
!). 1+ .+, 2"3( (+ 2+*$ 43 435'/(&'3( 6"3$43-7 8e prepared for Lhls quesLlon, especlally lf
your plLch ls noL convlnclng enough. 8e sure Lo hlghllghL Lhe quallLles you have LhaL are sulLed
for lnvesLmenL banklng. lL's also helpful Lo acknowledge you are aware of Lhe long hours and
dedlcaLlon Lhe [ob requlres.
!). 1+ .+, 2"3( (+ 2+*$ 8+* +,* 6"3$7 1hls ls your opporLunlLy Lo hlghllghL all of Lhe
lnformaLlon you have learned LhroughouL your lnformaLlonal lnLervlews and neLworklng.
!)"( -*+,9/ "*' .+, 43('*'/('1 437 1hls may or may noL come up, buL prepared Lo menLlon aL
leasL a producL versus lndusLry group.
:"3 .+, 1'/;*46' (+ &' 2)"( .+, ()43$ "3 "//+;4"('</ *+#' 4/0 WlLh Lhls quesLlon you can
demonsLraLe whaL you know abouL Lhe role of Lhe assoclaLe on a deal Leam. Many bankers
refer Lo Lhe assoclaLe aL Lhe Leam's quarLerback", servlng as Lhe lnLermedlary beLween senlor
and [unlor bankers and ensurlng all Lhlngs are compleLed accuraLely and on Llme for Lhe deal.
!)"( 4/ .+,* 64--'/( 2'"$3'//7 use an anecdoLe Lo descrlbe your weakness, and make sure Lo
end on how you are worklng on lmprovlng your weakness. Lveryone has weak spoLs buL you
should always Lalk abouL how you are lmprovlng upon Lhem.
!)"( 2+,#1 .+,* 8*4'31/ +* ;#"//&"('/ /". "6+,( .+,7 AnoLher varlaLlon ls whaL would a
subordlnaLe or manager from your prevlous [ob would say. ?ou are ln Lhe drlver's seaL wlLh Lhls
quesLlon. locus on Lhe quallLles LhaL are relevanL Lo Lhe assoclaLe poslLlon, such as good Leam
player, aLLenLlon Lo deLall, eLc.
7990!0317@ )3??31@8 7=:.9 01!.-40.5 A/.=!031=
8elow are addlLlonal quesLlons LhaL sLudenLs have recelved ln lnLervlews, lncludlng bralnLeasers
uescrlbe a currenL evenL or deal ln Lhe markeL LhaL you've been followlng.
WhaL classes are you Laklng Lo besL prepare you for Lhe summer (or full-Llme)?
Why should l hlre you over one of your classmaLes?
Pow do you value a company?
age @@ of @>

lf you only had one flnanclal sLaLemenL Lo value a company, whlch one would you selecL and
why?
Walk me Lhrough Lhe ma[or llne lLems of a Cash llow SLaLemenL.
WhaL ls L8l1uA?
Walk me Lhrough a uCl. ls Lhe cash flow levered or unlevered?
When you change Lhe debL/equlLy raLlo, how does Lhls lmpacL Lhe WACC?
Why would a company choose Lo lssue debL over equlLy?
WhaL are Lhe pros and cons of uslng L8l1uA as a proxy for free cash flow?
1here are 10 people ln a room and Lhey all shake hands once. Pow many handshakes were
Lhere?
lL's 3:13 - whaL's Lhe angle beLween Lhe Lwo hands on Lhe clock.
?ou have a 3 llLer [ug, a 3 llLer [ug and conLlnuously runnlng hose of waLer. Pow would you geL
exacLly 4 llLers of waLer ln Lhe 3 llLer [ug?
WhaL ls Lhe sum of Lhe numbers 1 Lhrough 100?
WhaL lndusLry would be more focused on /L mulLlples versus Lv/L8l1uA?
ln an all-sLock LransacLlon, would Lhe deal be accreLlve or dlluLlve? WhaL abouL an all-cash deal?
WhaL would you plck: a car boughL wlLh a loan aL 0 lnLeresL or a car purchased Loday ln cash
wlLh a $2,300 dlscounL?
ueferred revenue ls $100 and decreases Lo $30. WhaL ls Lhe lmpacL of Lhls $30 reducLlon across
Lhe Lhree flnanclal sLaLemenLs?
7990!0317@ 01!.-40.5 -.=3/-).=
We recommend you Lhoroughly read and revlew 1he 400 lnvesLmenL 8anklng lnLervlew CuesLlons &
Answers ?ou need Lo know, 8reaklng ln Lo Wall SLreeL" by Mergers & lnqulslLlons.
hLLp://breaklnglnLowallsLreeL.com, hLLp://www.mergergsandlnqulslLlons.com. 1hls compleLe gulde has
behavloral and Lechnlcal quesLlons and answers and ls a greaL resource Lo prepare for lnLervlews.
AnoLher resource ls Wall SLreeL Casls, hLLp://www.wallsLreeLoasls.com/

age @> of @>

2.1.-7@ 7940). 719 7990!0317@ 01<3-?7!031

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?ou should creaLe a spreadsheeL of bankers you have meL, spoken wlLh, emalled and walLlng a response,
eLc. 1hls may sound llke overklll now, buL LrusL us, keeplng Lrack of all of your conversaLlons ls crlLlcal.
An lnLervlewer may ofLen ask, Who have you meL wlLhln Lhe group or reached ouL Lo over Lhe lasL
several monLhs Lo lndlcaLe your lnLeresL?" ?ou should also lnclude a few names of Lhe bankers you have
meL ln your cover leLLer.

A sample spreadsheeL would conLaln Lhe banker's name, conLacL lnformaLlon, daLe meL, Lhe bank, and
any ldenLlfylng noLes LhaL you can reference aL a laLer daLe such as marrled wlLh a 3-monLh old son.
8emember, lnvesLmenL banklng ls aL lLs core a cllenL servlce buslness.

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AfLer every lnLeracLlon wlLh a banker, follow-up wlLh a Lhank you emall wlLhln 24-48 hours (Monday
followlng a lrlday lnLeracLlon ls flne). keep emalls relaLlvely shorL as lL wlll be mosL llkely read on a
8lackberry. ersonallze Lhe message Lo help Lhe banker remember who you are. Spellcheck Lhe emall
before sendlng and always make sure you are sendlng lL Lo Lhe correcL person!

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All evenLs should be buslness formal unless oLherwlse sLaLed. 1hls ls your opporLunlLy Lo showcase
yourself as a young professlonal wlLh several years of buslness experlence.

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SLay calm and collecLed LhroughouL Lhe lnLervlew and/or neLworklng sesslon
?ou wlll noL be a good flL for every bank so do noL Lry Lo force a flL. ?ou wlll flnd a flL somewhere
1he lnLervlew process ls an emoLlonal rollercoasLer LhaL everyone goes Lhrough, wlLh ups and
downs. ?ou aren'L Lhe only one!
8e poslLlve and keep a good aLLlLude. 1hls deflnlLely shows LhroughouL Lhe process and wlll help
you sLand ouL
uon'L be afrald Lo Lake a poslLlon on a Loplc and malnLaln Lhe dlscusslon buL never, never argue wlLh
a banker
Cver-prepare for any slLuaLlon, lL's much beLLer Lhan belng under-prepared