Advice for M&A interview

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#1

Hi all,

Have been a member here for a long time, and used to post a lot, but its my first time back posting in years. I have been through several nicknames, but just revived the account that I could get my password reissued for.

Anyway, these days I am a fully charterholder and it’s great to not have to study anymore.

So, I have been asked to interview for an M&A postition likely associate, but maybe analyst level. I have around 5 years working experience, but its in valuations and other types of financial analysis (ie, NOT M&A). The interview is with a fairly decent sized global boutique.

Im just wondering, coming from that background, is there anything I should prepare. And also anything else important for such a job?

Could al be in vain, since there are plenty of good guys floating around with actual M&A experience, as opposed to me. But I really want to get into this area, so will give it a shot.

#2

  1. Personal: Why you want to get into this. Get ready for the weird - strenghs/weaknesses, what colleagues would say about you. They might even ask if you have ambitions for bschool.

  2. Work experience: Get ready to talk about what you did. Obviously try and spin it in the most relevant way as possible.

  3. Industry: Know releveant deals that have recently occured in the space (you mentioned boutique - guessing they specialize in a couple sectors)? They might ask you questions about the various indices - know the S&P pattern for the last couple months, major drivers to performance, and latest price.

  4. Technical: How do you value companies (in the specific sector if possible). Major methodologies (DCF, comparable transactions, public comps, LBO). How you calculate FCF. You might get less of this given you are a CFA charterholder (I find this to be true).

#3

I highly suggest you read the articles at www.mergersandinquisitions.com. You will find more answers to your questions than you can possibly imagine.

#4

Thanks for that. Very helpful.

Interestingly I have been told they are interested in finding someone who is quite an “all rounder” for this position experience wise, so direct ibank experience is not number 1 on their list. Its good to hear, but these positions are very rare and eagerly sought, so competition is going to be very very stiff I think.

#5

Let us know how it went!

#6

Well, in the end they didnt go with me. Its a really highly regarded investment bank and they only acept people with exceptionally high grades from college, mine are only above average. But annoying since that was over 5 years ago.

I think getting into an iBank is going to be too hard for me. Looking at a financial modelling job at the moment, and a few other things.