| investment banking analyst summer intern |
Hiring Process:
-I go to a non-core school, but we have about 4 people a year work
there full time and usually get one intern.
-The first interview I had was very informal with alumni with my
school. I had to pay my way out. The interview was just to see if
they liked me and would back me for a final round.
-Final rounds were typical banking. There were four half hour
interviews with associates and 3rd year analysts. All were one on one.
-Every interview was technical in some way. This was by far the most
technical interview that I have ever had.
-Questions I got (I am a finance accounting double major):
-What is a P/E multiple of an industry that you like. Follow up
question- would you use PEs to compare a biotech start up and BMS or
Pfizer?
-What is the most important financial statement? How are the
statements connected? Why do you adjust for changes in NWC in the
computation of FCF?
-How do you account for a large investment? What is the
difference between the equity method, consolidation method, and trading
securities?
-Walk me through a DCF. How do you calculate terminal value? Do
you use a nominal or real discount rate when dealing with the
depreciation tax shield?
-What is WACC? How do you calculate WACC?
-Walk me through a deal that Bear has done.
-Other questions that people I know got who were not finance people-
What is the sum of every number from 1 to 200? (add 1 plus 199,
2 plus 198....)
The ball and balance question
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Bear Stearns & Co. Interview Surveys
