Failure Questions Flashcards
What’s your greatest fear about investment banking?
My biggest fears are about deal flow if the market is poor during my experience or if I were to spend a lot of time working on a deal and having it fall through because of any number of reasons
What’s your Plan B if you can’t get into investment banking this year?
You’ll do something finance-related, like corporate finance/strategy, or something else at a bank or financial firm (point out any offers esp if in finance/consulting)
Why should I hire you even if you might be less impressive than other candidates?
Bankers need people who are smart, able/willing to do the work, and are easy to get along with. I’ve done pretty well in school with a double major, and have great recommendations from previous internships. I spend a lot of my free time making music, keeping up with sports, and learning about things that interest me. Banking comes down to real-world experience and camaraderie. I think I excel in those areas, and since I don’t have the background of a more impressive candidate, I’m more motivated to succeed.
Let’s say your MD is meeting with a client and you’ve been invited. As he’s presenting, you notice a mistake in the materials; do you point it out?
Don’t point it out. If it comes up in the meeting, only speak about it if your MD asks you to. If asked, briefly acknowledge it and move to a different topic.
What did you get (bad grade) in (relevant class)?
It was my first semester of college, and after having gone to a fairly easy high school, I wasn’t prepared for the rigor of Berkeley. Since then, I changed my approach to studying and how I approach my day, and I’ve done better in those classes ever since.
Why did you not receive a return offer from your previous internship?
I did well in my internship and got positive reviews, but I didn’t fit in well with the group’s culture. From those I’ve spoken with at your firm so far, the culture here is a much better fit for me.
Why are we your first choice? Wouldn’t you rather work somewhere such as New York?
I realize it’s unusual and other places are more popular, but I’m most interested in [location] because it’s the best place for [favored industry], I have friends and family here, and it beats out living costs in New York.
