For #2, your best source is the WSJ Deal Blog. Goldman is also one big hole of toxic filth. It’s easier to look up recent deal activity than it is to verify the bank’s “overarching strategy,” so these answers can be riskier. At most large banks it is not. The best way to answer 'Why do you want to work here? Hi Brian, No, don’t bring up the bank’s M&A deals if you’re applying for a division that does not do M&A deals. Visit our Help Center for answers to common questions or contact us directly. Organizational skills, time management and a strong work ethic are also essential for this job.”. *Indeed provides this information as a courtesy to users of this site. And the deals! There has to be a reason that you decided to apply for the job. The best way to answer 'Why do you want to work here? This website and our partners set cookies on your computer to improve our site and the ads you see. I’m a little conflicted though. Why They Ask The Question “Why Do You Want To Work Here” First off, let’s explore why this question is even asked. I talked to a MM Director and she actually suggested I mention it in interviews. Black Friday to Cyber Monday Sale - Get All Our Courses Plus Future Courses and Upgrades for $500 Off the Normal Price. Mention you want to grow your career in the banking industry and feel TD Bank is the place to do it. During this conversation, I would try to keep things as simple and easy as possible so that he or she would feel it would be the best investment of their time and money. Why do you want to work for TD Bank? Why do you want work at our banking institution? So I would not go into your own personal background unless you can somehow make it concise and still tie it in to the firm. Thanks. And if you say something that’s at least somewhat decent or “less bad,” your answer could confirm what the interviewer is already thinking: that you’re a good candidate to win the offer. Feels like a huge bump since the last comments were made in 2013, but here we go anyway. But I agree that it is a dumb question. Especially when you might not know what team you’re applying to from the get-go. Here the candidate should divulge their career history a bit more. You can’t talk about specific deals. Find 10 answers to 'Why would you want to work at TD Canada Trust?' Hi, I’m in my final year of sixth form and Goldman Sachs are offering an inset day in their London offices to young girls. So yes, there’s some truth to what you say, but other factors contribute as well. That just explains why you’re interested in tech – after that, you would then go on to state all the usual reasons about why you want to do PE. The best you can do is talk about specific types of funds or strategies the firm as a whole uses, or recent innovations that set it apart from other AM firms. I am committed to complete confidentiality and have had previous experience dealing with tough customers.". What if you are not applying to a deal-making role but rather a support one?Can you still bring up the “deals” side of the answer? What to look for in an answer: “In that last incident, I realized how the customer simply had different expectations. A lot of the answers included reasons people might want the job but if they are not your reasons, they won’t work in the interview. Get answers to your biggest company questions on Indeed. You can name anyone, but it generally helps more to name more senior people. Also, while “the culture” is mostly the same at large banks, it can vary tremendously at these smaller investment firms because it’s heavily tied to the PM. I am going to apply for a work experience program run by JP Morgan, suited to 14-18 year olds and one of the questions on the application is “Why would you like to complete work experience at JP Morgan?”, with a 4000 character limit. You can tell by their body language and word selection if they possess the skills required for such a demanding and interactive job (such as patience and the ability to listen well while still selling a product). Let’s break it down and see how you can best answer this nonsensical question: Why This is a Dumb Question… But Why It Still Matters Anyway. Asking this question in the beginning of the interview will give you a better idea of your candidate and their motivation for working for you. Why do you want to join our company? What Are They Really Looking for with This Question? I have an interview coming up and will definitely be using this. If you’re interviewing for, say, a tech private equity firm but you’ve only worked in the healthcare group in banking before, you just need to be “creative” with your explanation: “Sure. Speak about the value you want to bring to the bank, your good knowledge of banking products, or skills that are relevant for the job. It is likely that a client becomes angry and even aggressive, and your banker will need to exercise extra care in their customer dealings. It might help a bit, but any deal done by the bank would be fine. Or, go back to the firm’s history and talk about how it changed the industry… with TRP, for example, you could talk about how they were one of the earliest AM firms to start investing in private tech startups. I’d say something along the lines of “To me, the people I work with and the culture of the bank is the most important. That just explains why you’re interested in tech – after that, you would then go on to state all the usual reasons about why you want to do PE. You need them to do the job of persuading more potential clients to become your loyal customers. To add to what Nicole said, I would probably say something like, “Well, obviously Goldman is viewed by some people as being among the ‘top’ banks or perhaps the ‘top’ one, so in that sense an offer would be appealing. Why do you want to join Deutsche Bank is a legitimate question that you could be asked at interview for a position with this bank. What to look for in an answer: “The customer would need adequate time to express their point of view. I’d suggest you to take a look at recent stock/industry trends and select 1-2 companies as your stock pitch. Aside from including the names of contacts I spoke with at the bank and firm-specific research on recent deals, should I also incorporate my why IBD “story” too? I am a 3rd year undergrad from a non-target in recruitment processes for middle market internships. How do I convey my interests for working for a small boutique? Most of these buy-side funds tend to have a specific industry focus, a deal/investment size focus, or, for hedge funds, a specific trading strategy. Their application includes this question and I’m quite stumped by it. Best practices on how to manage jobs on Indeed, Resources, insights and tools for employers, Answers to common questions about Indeed products, History that led to their job search and choice of career, Whether the candidate understands the responsibilities of the position, Whether the past incident led the candidate to change their perspective, Understanding of the job and roles required, Whether the candidate asks questions to get clarification. You’ve just finished investment banking application #57 for this year’s recruiting season. Give Real-World Examples of Your Leadership To convince the hiring manager that you’re a good fit for the job, you need to prove you can handle it and have the right personality traits to lead a group. Please refer to our full. But I’m not sure what code they use for RBC or if they list it. Your information will not be shared. You don’t need a really long answer to this question, and in online applications a long answer would be tough to fit in anyway. PS: I know people from these other banks and they do big deals as well. And then there are incredibly dumb answers, which you really, really want to avoid. Land investment banking offers with 578+ pages of detailed tutorials, templates and sample answers, quizzes, and 17 Excel-based case studies. At the end of the day, a good banker is not only a good manager, but a good salesperson. The key point is that you should tie your response to something you’ve done in the past, as opposed to a simple “interest” you have. Tell the interviewer that you enjoy helping people, that you enjoy doing the things personal bankers do on a daily basis. Google the firm and find deals or press releases about them, or get access to Capital IQ and use that to find deals. I would research some of the strategies the bank is pursuing within market risk, or new hires/expansion plans there, and speak to those instead. An “acceptable” answer in an interview might be something like: “I’m interested in your bank because I’ve met quite a few people there already, including [Person Name 1], a VP in the New York office, and [Person Name 2], a Senior Associate in the San Francisco office, at an information session last month, and I’ve gotten along well with all of them. Thanks! I’m currently completing my A-levels and I’m from London. Do you need to have networked with people in this specific group, or do you need to know deals that this specific group has done? I have an interview for Market Risk at a BB but am not sure whether to talk about a recent deal when answering, ‘why do you want to work for us’, as that is not really market risk. Specific questions like this one can determine whether or not your candidate will keep their cool in such a situation. It’s fine to use that for part of your answer, but I would also go beyond it and have something specific to the bank (people or deals) – because otherwise you’re just explaining why you want to go to any MM bank instead. There is no real way to answer that question because effectively, bankers are almost the same across all firms, and deals are very similar at large banks. As I’m struggling to find a website that contains that information. Don’t go to the bank’s website. We respect your privacy. On my own, I’ve also done some investing in my own portfolio in the tech space and, as one of the key growth areas in the economy, it’s especially interesting to me.”. It’s the (specific names of) people! It helps if you have or you do, of course – but you could just say that you’ve met people at this bank or that you know of deals that this bank has done, and then tie your interest back to your work experience and background: More broadly, the “Why Our Firm?” question is more interesting and relevant in areas like private equity, hedge funds, and venture capital because… wait for it… those firms CAN actually be different from each other. Because of my lack of experience in IB (I interned in corp. finance) would it still be okay to talk about how I want more experience in deal execution through the larger quantity of deals at their bank as oppose to only working on few large deals in BB? To learn more about, Answer Investment Banking Interview Questions, Create a Top-Notch Hedge Fund Stock Pitch, please click here to get my FREE 57-page investment banking recruiting guide - plus, get weekly updates so that you can break into investment banking, lots of long hours spent revising pitch books 57 times, avoiding screw-ups matters for bonuses at the analyst and associate levels in finance, click this link and read everything under “Networking”, during an assessment center or as part of your competency questions, sometimes bulge bracket banks hire stupid and lazy people, you just need to be “creative” with your explanation, http://www.goldmansachs.com/careers/why-goldman-sachs/our-culture/, http://www.amazon.com/Goldman-Sachs-The-Culture-Success/dp/0684869683, https://www.mergersandinquisitions.com/hedge-fund-case-studies-part-2-research-structure-stock-pitch/, Say you like “the culture” – this is way too vague, sorry, especially since most banks have the same culture. What to look for in an answer: "After looking at the job requirements and researching your company history and policies, I think that my skills in customer care, accuracy and smart investing can help your clients make smart financial decisions. Any idea how to answer this for firms in AM? Organizational skills, time management and a strong work ethic are also essential for this job.”. Money plays into any decision, but it’s usually not a great idea to talk about it whether you’re applying for a job or anything else…, How would you answer the question: “If you simultaneously had offers from [Bank you’re interviewing with] and Goldman Sachs, which one would you take?”. Banking is a service industry. Great article!! We weren’t given the option to choose which division to go into otherwise I would’ve chosen legal and said something about that, instead this seems to be just a general “Why Goldman Sachs?”, Goldman Sachs’ culture is key: http://www.goldmansachs.com/careers/why-goldman-sachs/our-culture/ I’d talk about the teamwork and their culture. Don’t kill yourself spending hours to find the perfect deal – not worth the time/effort. I’ve networked and built good relationships with two analysts in a mid-market bank but they both recently left for boutiques. Looked like the perfect trap. '—plus examples from 3 people who got the job Published Tue, Oct 27 2020 11:03 AM EDT … Talk about a particular strength the bank has in its S&T division or a type of client it works with, or just talk about a security you’re interested in trading and point to the traders/salespeople you’ve spoken with there. Got asked that at an assessment center (London) by a veteran MD and I honestly thought this was probably the most useless question he could come up with. Great article! That said, in my mind GS and your bank are both at the same level in terms of experience, deals, and exposure, and so I would be more inclined to go with you based on the people I’ve met here, such as [Names], and what I’ve heard about the [intern / analyst / associate] experience.”. I firmly believe in taking a collaborative approach to each project so when I saw a position with your … I feel that reading “Our Values” and “Who we are” is a waste of time since they are pretty similar. Thanks for visiting! It’s 3:14 AM, your eyes are glazing over, and you really wish this last bank would just ask for your resume/CV and cover letter and stop there…, They have a list of questions for you to answer, somehow believing that they are “special” or “different.”. Why do you want to work at Bank of America? Is there a personal email where we can ask you individual questions? Though there are some foolish answers that you definitely want to avoid. If the potential client goes overseas a lot, I would show them how our offers for international withdrawals are the best and most convenient. Brian, Say that you want “exposure to bigger and more complex deals” (if it’s a boutique to bulge bracket move) – Not as dumb as the other answers, but a little too vague for my liking. Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street. I am currently writing out my answers for “Why this role / our bank” in an online application that I have to submit for full-time recruiting. Here, you can see how committed and prepared they are for the job requirements. Remember that banks are sell-side institutions, so they have no incentive to hide the deals they advise on – they want to market themselves. Try and … What if I am applying for Markets – Sales & Trading position? Some notable awards include. Decide what it is that interests you and what makes you want to work there. The key point is that you should tie your response to something you’ve done in the past, as opposed to a simple “interest” you have. Regarding the use of contacts acquired through networking, is it wrong to name analysts and associates or is it just as relevant as naming VPs and MDs? You’re really interested in DCM because you previously worked at a state government agency going through a budget crisis due to high debt levels and required interest payments, and now you want to see how, You want to work in M&A because your family consists of. The main point for this interview question is that you need names of specific people, and ideally their locations and titles, if you want to point to your networking efforts in an interview. Tell us about yourself? What to look for in an answer: “I would take a look at their lifestyle, and see how this bank fits it perfectly. So it’s your job to research these factors in advance – yes, it’s easier for PE and VC – and then link the industry/strategy they focus on to your own experience. Ideally, gain access to Capital IQ or other paid subscription services that give you information on recent deals and the roles of banks in those deals. I would calmly walk the customer through what to do in case this happens the next time, and provide a special number to call for direct customer service — while assuring her that I will personally take calls, should this happen again.”. Make sure you know the companies inside out https://www.mergersandinquisitions.com/hedge-fund-case-studies-part-2-research-structure-stock-pitch/, Judging by what ive read on this website about recruiting and on some other sites too , think all bankers when it comes to recruiting are nothing but hypocrites. We guarantee 100% privacy. Do Google searches for recent deals the bank has worked on. How would you recommend answering this question, as the character limit is quite large? Should we mention the name of people we met at a different office than the one we are applying for? Say that you want “more hands-on client interaction” (if it’s a bulge bracket to boutique move) – Same issue as in #4 above – not a horrible answer, but you could make the same argument for almost any bank you’re interviewing with.