Team Disha 2010-11

Why Banking?
http://www.gottamentor.com/
Why are you interested in this company? question.
Karen. Widget Inc. is an exciting emerging leader in the industry. The company attracts really sharp
people and has a great reputation for its employee development and culture. Im sure I would learn
a lot at Widget and could make a valuable contribution.
Julia. Ive been following Widget Inc for the past 3 years since I first used the companys product
after seeing an ad. Even though the brand wasnt as well established then, the product was so much
faster and more intuitive for a user. I told my friends, and clearly others told theirs. Its not surprising
to me that the companys market share has doubled to 28% in the past 2 years and international
expansion efforts are underway. As you see on my resume, Ive had multiple opportunities to
develop and demonstrate my sales skills in various initiatives over the last few years. I believe I could
immediately put those skills to use at Widget.
Which candidate seems like they really want to work at Widget? Which candidate is memorable and
which forgettable? Karen doesnt say anything inaccurate, but she could be talking about any
company. Shes going to be sitting by the phone waiting for the call for a next round interview that
will never come. Julia, on the other hand, communicates information that is unique to Widget, and
she ties that information to her own skills and interests.
Whether you are asked Why are you interested in this company explicitly or not, it is essential that
you communicate your interest in the company during the interview. The way to do that is to show
that you know what is unique or differentiated about them, and why that feature appeals to you.
Of the hundreds of interviews Ive conducted, over 95% of the interviewees communicate generic
information about why they want to work for the company they are interviewing with. The good
news is that this is a very easy problem to fix in your interview prep. It takes only a little research to
figure out what is really distinctive about a company. Here are a few categories you should consider
when you do your research to identify those differentiating features:

Market Position are they the market leader overall or in a specific market that interests you? Are
they gaining share?
Products & Services are you personally passionate about the products or services?
Culture Does the company reward innovation, do people start their careers there and never leave,
is it family-friendly?
Career Opportunities does the company have an excellent training program, provide opportunities
for work in different areas of the company or parts of the world?

 Team Disha 2010-11

Take a look at Researching the COMPANY and get comfortable answering the questions listed there
about any company you are going to interview with. Once you`ve identified some distinguishing
traits and tied them to your own skills and interests, make sure to bounce your pitch off of a few
people who know the company.

Banking questions 1.
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Tell us about the bank.

What responsibilities would you expect to come with this position?
Why did you apply for this position?
Which qualities do you have which you think would make you fit the position youve
applied for?
While the financial crisis is affecting the whole job market and making banking jobs
look insecure, why do you want to work in a bank?
Tell us about your leadership qualities.
What do you expect from banking, other than a prosperous career?
Which qualities do you have which you think would make you fit the position youve
applied for?
How will you benefit from XYZ and how do you think the bank will benefit from you?

Top Questions from Banks

Dresdner Kleinwort asks: Describe a situation when you have demonstrated initiative.
Jennifer Brimley, Associate Director of Origin HR advises:
Investment banking employers ask this question because, in a highly competitive marketplace, being
entrepreneurial is a key attribute to helping them win new business and maintain their market positioning with
existing clients.
What are they looking for in your answer? Indicators of your ability to think on your feet and be reactive yet
measured. The bank wants candidates to show they can spot opportunities, take them and be able
constantly to challenge themselves and their own abilities. Key sentences and words to include in a typical
answer may include assessed or analysed the situation, made a quick, but informed, decision,took
control or saw an opportunity.
In answering this question, you should also try to highlight your ability to manage any risk associated in
taking opportunities. One way of doing this could be to point to a time when you have taken an initiative to
avoid a difficult situation. For example, an applicant might say during an OTC (Officer Training Corps)
exercise they chose to take a slightly longer route that didnt involve crossing marshland because they were
the only person to check the weather forecast that morning and knew it would rain as a result their team
came first.
And whats the biggest mistake you can make in answering this question? Wasting far too much of the small
word limit allowed setting the scene. Employers want to know what you did, why you did it, and whether this
had the desired effect not the preamble to what you did.
Bank of America asks: Why do you want to work in the financial services industry?
David Schwartz, former Head of Graduate recruitment for Europe at Goldman Sachs and founder of D N
Schwartz & Co in New York advises:
With this type of question a bank will be looking for some intrinsic interest in the financial services industry

 Team Disha 2010-11

perhaps you enjoy understanding how companies are valued, perhaps you have always been interested in
the stock market, maybe you like the math involved in the derivatives market all of these would be
reasonable answers (and all of these youd have to demonstrate).
You might also point out that financial services is one of the best industries in terms of giving young people
responsibility fast. Finally, dont be shy about admitting that you want to have a lucrative career they want
to know that you have financial motivations. Potential pitfalls in answering this question? I would shy away
from stressing the intellectual challenge, because there are many careers that are more challenging
intellectually; and I would avoid trying to put an altruistic face on it, because no one will believe you!
Deutsche Bank asks: Given current market conditions, what do you think Deutsche Bank should do
to remain competitive?
Sarah Chesser, Graduate Recruitment Consultant of Graduate Solutions advises:
With this question, the bank is trying to find out whether you have done any research into the Investment
Banking (IB) sector and current economic climate as a whole, and how you relate it to Deutsche Banks (DB)
business itself. Why?
The bank is looking for some understanding of macro economics and an accurate summary of the current
market conditions, an understanding of what is meant by market conditions, and how these may affect
investment banks and their financial products. It is then looking for: 1) signs that you have researched the
firm as well as the sector, and can relate these market conditions to the firm; 2) whether your understanding
of how DB can remain competitive is accurate and well explained.
How should you respond? You need to research all recent press about DB, and try to link the information you
find out to the question eg which businesses are currently profitable and which regions are they in, which
business areas within the bank are challenged by the current market conditions, what plans they have in
place to remain competitive within these areas, what the Management Boards strategy is with respect to
remaining competitive etc. Use of quotes from DB management board members could be helpful to illustrate
your answer.
And what is the worst mistake you could make in answering this question? Not answering the question
comprehensively, for example, talking about market conditions and investment banking but not relating the
answer specifically to DB, ie not having done enough research into the firm itself.
HSBC asks: Please tell us about a time when you have led or been part of a successful team. What
problems did you face? How did you overcome these problems and what was the final result?
Jennifer Brimley, Associate Director of Origin HR advises:
By asking this question the employer can ascertain your ability to work with others and manage both the
team and their own objectives. This can encompass how they build relationships within the team, how they
manage their time, how they cope with difficult situations or conflict within the team, and also what role the
candidate is assuming in each "team" situation.
A good response would demonstrate that you can assume different roles depending upon the situation and
task to be completed. The more flexible the candidate, the greater the ability to flex to the business's needs.
An example would be talking about a time when you worked on a project, demonstrating how you took on
some of the workload of the group. Another example would be how youve worked as part of a team in your
extra curricular activities - this could be by being the captain of the football or rugby team on the one hand
and playing as part of an orchestra on the other.
Whats the biggest mistake you could make in answering this question? Focusing more on you as a team
leader rather than team player eg you as vice-captain of cricket, treasurer of Investment Banking Society
etc, as this may indicate success and ambition but may also leave questions around ability to "roll up your
sleeves."
Morgan Stanley asks: Describe a situation where you achieved a challenging goal. How did you
achieve this? What have you learnt from this?
David Schwartz, former Head of Graduate recruitment for Europe at Goldman Sachs, and founder of D N

 Team Disha 2010-11

Schwartz & Co in New York advises:
Here the bank wants to know something about how achievement-oriented you are. They will want to know
how difficult the task was; why you felt it was important to achieve it; what you did in order to get there; did
you do it by yourself, or with the help of other (working with other people is always a plus); did it require
persistence, analytical skill, physical strength, courage, etc etc. Why? The theory is that a record of
significant achievement in the years leading up to your application for a job at an investment bank is a good
predictor of the ability to achieve in this career.
And whats the biggest mistake you could make in your answer? It is best to avoid sounding like an egomaniac! Be proud of what you have done, but humble enough to stress that you needed the help of others.
Deutsche Bank asks: What extra curricular activities have you been involved in that you think we
would be interested in hearing about?
Jennifer Brimley, Associate Director of Origin HR advises:
Here, the bank wants you to demonstrate any personality traits that could indicate how you would behave in
the role you are applying for. How best to respond? By including buzzwords to link the characteristics you
describe to a specific role or the culture of the organisation. For example, an applicant focusing on sports
interests is ultimately demonstrating a team player attitude through their commitment, their ability to
prioritise their time (in attending training sessions), and desire to be the best (by being in the 1st XV Hockey
rather than the 2nd XV).
Alternatively, the applicant who has completed a gap year should show they have developed an ability to
think on their feet, and to engage with people of all backgrounds and ethnicities. This could be a leading
indicator of someone who would be possibly suited to a co-ordination role, maybe markets focused eg
sales/trading, where lead times are often short and candidates need to be quick learners.
Whats the worst mistake you could make when answering this question? Not to take a step back and realise
what your interests and traits say about you. For example, a candidate who writes that they like to spend time
marathon running could be viewed either positively or negatively by the bank, depending on the role. On the
one hand, it could demonstrate a trait of "going solo" , which could suggest youre not suited to a busy
equities trading floor role. But it could also show your grit and determination to succeed at a goal unattainable
to most of us. The most important thing is to match your skills to the role or section youre aiming for.
Dresdner Kleinwort asks: Describe a situation when you've had to motivate yourself to complete a
difficult project or a demanding task.
David Schwartz, former Head of Graduate recruitment for Europe at Goldman Sachs, and founder of D N
Schwartz & Co in New York advises:
Here, the bank is typically looking for several things. First, and perhaps most important, they are looking to
see how you get yourself going in a situation where you dont like what youre doing but you have to do it
anyway. No one likes to do difficult or boring tasks, but the initial career track in any investment banking role
is difficult, tedious, and requires getting up energy to complete projects that you may not have the slightest
motivation to do. They are looking for a desire to learn; a satisfaction in a job well done; a sense that you are
building a career on a sound foundation; and a sense that you like working with people regardless of the
difficulty or unpleasantness of the task.
How best to respond? Pick a situation you have been in, in which you can demonstrate some or all of these
key elements, and youll be set. And the worst thing you could do when responding to this question? Fail to
show any sign of motivation or enthusiasm or ability to grit your teeth and drive yourself on.
Barclays Capital asks: What steps did you take in determining which investment banking firms you
applied to?
Sarah Chesser, Graduate Recruitment Consultant of Graduate Solutions advises:
Here, the bank wants to find out the extent of your research skills, especially how thorough your research is,
and how logical your approach is. The bank is looking for thorough, accurate and logical research,
organisational skills, ability to write concisely etc. It then wants you to express what is important to you in the

 Team Disha 2010-11

bank you join and relate that back to the firms you are applying for.
What are they looking for in an answer? They will want to see a clear strategy of how you, as a candidate,
went about gathering information about the different investment banks, how you disseminated that
information, and how you then went about making your choice of which firms to apply to.
How should you respond? You should cover what research you did, why and what conclusions you came to.
You should source your info from, for example: a) the individual banks careers website; b) financial websites
& press; c) Finance Careers Fairs; d) workshops related to the sector; e) speaking to peers, alumni of where
you are studying, friends, relations in the business
What are the worst mistakes you could make when answering this question? 1) Responding in generic terms
that cannot be quantified eg. saying I wanted to apply only to the top Investment Banks. 2) Getting facts
wrong eg saying you wanted to apply to those banks with global graduate programmes when they only offer
regional options.