Finance Interviews. Darren Wray, Finance Sector Manager Madison Investment Fund 2/26/07. Agenda. I. Basic Interview Tips -Ground rules for all Finance interviews II. Areas of Interest -Investment Banking, Sales & Trading, Research, Structured Finance, The “Buy Side”
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Darren Wray, Finance Sector Manager
Madison Investment Fund
-Ground rules for all Finance interviews
-Investment Banking, Sales & Trading, Research, Structured Finance, The “Buy Side”
-What to expect in an investment banking interview
-Why Salespeople/Traders are inherently better thanbankers
-Highlight the different opportunities in research
-Illustrate common pitfalls in research interviews
-What is Structured Finance?
-Brief overview of Buy Side interviews
-List of resources for interview prep
-Corporate Finance: FIG, TMT, Energy etc..
-Mergers & Acquisitions
-Very difficult industry to enter. Must be persistent.
-Multiple phone interviews followed by “super day”
-JMU has no formal recruiting arrangements with any bank
- Ace Greenberg
-Often the most profitable area of an I-bank
-Traders buy and sell financial products with the goal of making an incremental amount of money on each trade.
-The sales force primary job is to call on institutional investors to suggest trading ideas and take orders.
-Division which reviews companies and writes reports about their prospects, often with "buy" or "sell" ratings.
-Sell side research aids the firm’s traders and sales force as well as its institutional clients
-Buy side research is typically less formal
-Ratings companies such as S&P, Moody’s, and Fitch evaluate corporate and sovereign debt instruments
Hedge Fund Research = Sell Side Research – Writing.
-THIS IS NEEDED
Books: Monkey Business, Liar’s Poker, When Genius Failed, and The Bonfire of the Vanities
Movies: Wall Street, Boiler Room, American Psycho