Given the timing here, I don’t think you will sound believable if you claim that taking the Big Tech offer was your plan all along (maybe if you stayed for a year and then applied to IB). So you will probably have to say that you made a mistake and had a poor impression of IB from your internship, but quickly realized that larger banks are quite different and do not have the same types of cultural/team issues you encountered there. You took the Big Tech offer because it seemed better at the time, but you realized you’re not a good fit for whatever reason, so you still prefer finance.

During my MBA I did a boutique IB internship but since they were having team issues I decided to take my big tech offer. It is only 3 month now but I started regretting my decision and reapplying to IB again to Industrial group so unrelated to tech experience. How would you frame the answer to why I went to tech at the time from IB? Would be great to hear your insight. Thanks a lot.

Rich

No. All these accounting questions assume standard U.S. GAAP treatment of the financial statements, i.e., that CFO starts with Net Income and then adjusts for non-cash items and the Change in WC (as opposed to the IFRS/other treatment where the CFS may use the Direct Method or start with OpInc or Pre-Tax Income or something else rather than Net Income).

Including interest expense therefore makes no sense because it would be double-counting, as it’s already deducted in Net Income on the IS. Interest Payable is pointless because the interest is not going to remain a payable for a year. Most loans have interest payments that are due on monthly, quarterly, or semiannual schedules.

They factor in, but no one knows by exactly how much because banks do it differently and never disclose their methods. But they’re normally more of an “elimination” exercise than anything else. Answer poorly enough and you’re out, but a great score doesn’t necessarily help you. All you can do is practice with firms that offer online tests.

It all depends on how much full-time work experience you already have. If it’s beyond 2-3 years, it will be tough to win Analyst/Intern offers. Please see: https://mergersandinquisitions.com/age-investment-banking/

There is really not much to say, and most of it’s common sense (wear clothes, look at the camera, do it in a quiet spot so your roommate doesn’t come barging in, etc.). The questions tend to be very simple fit-based ones as well. We may eventually write something on Hirevues, but it almost feels silly.