Finance Interviews 101. Introduction. Danielle Dagenais Finance Career Advisor Desautels Faculty of Management firstname.lastname@example.org Mak Doric Investment Banking Full-Time Analyst Goldman Sachs, Calgary m email@example.com. Agenda. Interview Format
Finance Career Advisor
Desautels Faculty of Management
Investment Banking Full-Time Analyst
Goldman Sachs, Calgary
Come across as an interesting and ambitious person, fun and enjoyable to work with
Organize your answers and use your fingers
Take the time to think about the question before answering
Walk through your logical thinking process
Be confident and comfortable, calm, not arrogant
Differentiate, summarize and be aware of reaction
Be intelligible - particularly if you have a foreign accent
Dear Mr Sachs,
Thank you for giving me the opportunity to discuss the opening for a market analyst position. It was a pleasure to meet you and Mrs Robinson, as well as to learn more about XX Corporation.
I especially appreciated hearing about your own experience with as an analyst at XX. The dynamic environment your company offers is particularly attractive. I feel that this is the type of environment in which I would perform very well.
I look forward to hearing from you. Please feel free to contact me with any questions regarding my candidacy.
The C/F statement gives a true picture of how much cash the firm is actually generating, independent of non-cash expenses. “Cash is king”
The C/F statement can be created from the I/S and the B/S assuming you have access to before and after versions of the B/S
Operating income and earnings will be overstated (lower COGS). Inventory on B/S will also be higher as “cheap items” are sold first.
C/F will be higher due to increased earnings, offset by change in NWC.
The company is spending too much on capex (not included in EBITDA), high interest expense, credit crunch, one-time charges
WACC = r_e * E/V + r_d * D/V * (1-T)
UFCF = EBIT (1-T) + D&A – Capex – Changes in NWC
Enterprise Value = Equity Value + Debt + Preferred Shares + Minority Interest - Cash