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The Technical Interview Guide to Investment Banking, von Pignataro, Paul (eBook)

  • Erscheinungsdatum: 31.01.2017
  • Verlag: Wiley
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The Technical Interview Guide to Investment Banking,

Win the recruiting race with the ultimate analyst's guide to the interview The Complete, Technical Interview Guide to Investment Banking is the aspiring investment banker's guide to acing the interview and beginning your journey to the top. By merging a 'study guide' to the field with a forecast of the interview, this book helps you prepare for both content and structure; you'll brush up on important topics while getting a preview of the questions your interviewers are likely to ask. Covering financial statements, valuation, mergers and acquisitions, and leveraged buyouts, the discussion provides the answers to common technical questions while refreshing your understanding of the core technical analyses behind core models and analyses. Each chapter includes a list of the questions you will almost certainly be asked-along with the answers that interviewers want to hear-from the basic Q&A to the advanced technical analyses and case studies. This guide will reinforce your knowledge and give you the confidence to handle anything they can throw at you. You will receive an expert synopsis of the major points you need to know, to ensure your understanding and ability to handle the multitude of questions in each area. Double-check your conceptual grasp of core finance topics Plan your responses to common technical and analysis questions Understand how to analyze and solve technical analyses and cases Gain insight into what interviewers want to hear from potential hires Become the candidate they can't turn away
You've positioned yourself as a competitive candidate, and the right job right now can chart your entire career's trajectory. Now you just have to win the recruiting race. The Complete, Technical Interview Guide to Investment Banking is the ultimate preparation guide to getting the job you want. PAUL PIGNATARO is the founder and CEO of the New York School of Finance (NYSF). He has over thirteen years of experience in investment banking and private equity in business mergers, acquisitions, restructurings, asset divestitures, asset acquisitions, and debt and equity transactions covering the oil, gas, power and utility, internet and technology, real estate, defense, travel, banking, and service industries. At NYSF, Mr. Pignataro continues to participate on the training team, actively providing training at bulge bracket banks and M&A teams at corporations and billion dollar funds. Prior to his entrepreneurial endeavors, Mr. Pignataro worked at TH Lee Putnam Ventures, a $1 billion private equity firm affiliated with buyout giant Thomas H. Lee Partners. Prior to that, he worked in the Investment Banking department of Morgan Stanley.

Produktinformationen

    Format: ePUB
    Kopierschutz: AdobeDRM
    Seitenzahl: 288
    Erscheinungsdatum: 31.01.2017
    Sprache: Englisch
    ISBN: 9781119161400
    Verlag: Wiley
    Größe: 2086 kBytes
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The Technical Interview Guide to Investment Banking,

Introduction

An investment bank is large, complex, and has many facets. In order to best understand the investment banking interview process, it is important to first give an overview of the major investment banking departments operating within an investment bank and the major roles within each department. This will help a job seeker identify and better understand the roles sought after in an investment bank and the most popular areas of interest for job applicants. Note this is just a high-level overview; you will always find more departments as you dig deeper, and each bank may slightly vary.

It is first important to highlight the difference between an investment bank and a commercial bank. An investment bank underwrites securities and performs advisory services while a commercial bank accepts and manages deposits for businesses and individuals.

In 1933 the United States issued the Glass-Steagall Act that prohibited banks from performing both "investment banking" and "commercial banking." This act was set up in response to the Stock Market Crash of 1929 in order to prevent banks from betting on the market at the expense of depositors. This act was repealed, however, in 1999.
OVERVIEW OF MAJOR DIVISIONS

The following chart highlights the major banking divisions I will explore. Again this is not meant to be a complete overview, but just the key areas. These descriptions are meant to be a very brief overview just to give you enough of an idea to differentiate between divisions for interview purposes. Going into complete detail of these roles and what they entail is grounds for another book. Please refer to the chart on the next page for reference.
Senior Management

At the top of the pyramid we have senior management. Senior management includes the CEO, CFO, and others who run the entire firm.
Investment Banking

Investment Banking is a group within the investment bank itself. The investment banking group is typically broken up into Coverage, Mergers and Acquisitions, and Capital Markets.
Coverage

This core investment banking department is divided into industry groups: Energy, Technology, Media, and Healthcare are good examples. The role of these groups is to go to clients within the particular industry and sell investment banking products-products aimed to drive growth in the client's business. These products are most likely Mergers and Acquisitions (M&A) and Underwriting. So if you were a managing director within one of these groups, you would be responsible for "covering" several companies within the industry group. The role would be to sell some M&A or Underwriting business to said client. Most often presentations (pitchbooks) are created as a tool to help "pitch" or sell business. An analyst would be responsible for researching the data for slides that would populate the presentations. These slides may require some analyses such as financial modeling, valuation, in addition to market research. The pitchbook would at its core provide an overview of the market environment, maybe a valuation of the client, and would hope to sell an M&A or Underwriting product. An analyst would also be responsible for drafting memoranda, setting up conference calls, and other process-oriented tasks. If the client expresses further interest in one of the products mentioned, then the coverage team would coordinate with the respective product team. For example, if the client expressed interest in raising equity (a subset of underwriting), then the coverage team would coordinate with the equity capital markets team to further the potential transaction.
Mergers and Acquisitions

Mergers and Acquisitions is probably the most sought after group (from a junior perspective) within the Investment Banking department primarily because it's the most model intensive. The goal of the Mergers and Acquisitions group i

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