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why do you want to work in a bank answers

It’s fine to use that for part of your answer, but I would also go beyond it and have something specific to the bank (people or deals) – because otherwise you’re just explaining why you want to go to any MM bank instead. Do you need to have networked with people in this specific group, or do you need to know deals that this specific group has done? I would emphasize personal added value that the bank can give them.”. For support roles, yes, you could still bring up the deals side but there it’s probably a bit better to focus on people in the group you’ve met. A banker asking this question of you is like a supermodel asking Fogell why he’s “interested” in going on a date with her: because she is the most attractive woman that has ever shown interest in him. What’s the best way to get in touch with you please advise. Claiming ignorance might be a little more acceptable in hedge fund recruiting since so many funds are incredibly secretive, but it’s a poor excuse in IB interviews. What to look for in an answer: "After looking at the job requirements and researching your company history and policies, I think that my skills in customer care, accuracy and smart investing can help your clients make smart financial decisions. Land investment banking offers with 578+ pages of detailed tutorials, templates and sample answers, quizzes, and 17 Excel-based case studies. *Indeed provides this information as a courtesy to users of this site. Say that you want “exposure to bigger and more complex deals” (if it’s a boutique to bulge bracket move) – Not as dumb as the other answers, but a little too vague for my liking. You know… there’s a “Work hard, play hard” culture, crazy hours, lots of long hours spent revising pitch books 57 times, and so on. The best way to answer 'Why do you want to work here? I’d suggest you to take a look at recent stock/industry trends and select 1-2 companies as your stock pitch. Tell us about yourself? Let’s suppose that I said specific people and deals for a J.P Morgan interview. And then there are incredibly dumb answers, which you really, really want to avoid. To succeed, you should enjoy working with people. For mentioning recent deals, if I am interviewing for London office, should I go for something done by the office instead of some high-profile deal done by the NY team? As we stated above, this isn’t really just one single stupid question, but two much more complex and dynamic questions rolled into one: 1.Why do you want to work for this company? Where is the best place to find deals the bank has recently been involved in? The point of this question is to assess whether or not you can do 5 minutes of online research. All you can really say is that you’ve felt that you fit in more at JPM and have gotten along better with everyone you’ve met. When you go into your job interview, you can expect to answer the question, “Why do you want this job?” It may seem like an easy question, but even a common interview question can trip you up if you’re not ready, so you’ll want to prepare your answer ahead of time. Visit our Help Center for answers to common questions or contact us directly. Why do you want to join our company? Great article!! I have always been fascinated by the financial world, am ambitious and hard-working and can bring great value to your company.". And the deals! If not, you will have to do Google searches or look up specific, recent deals and see if you can find the banks attached to them (sometimes the official press releases state this). It might help a bit, but any deal done by the bank would be fine. Is there an equivalent to the IBD “deals” you can get here? State you are impressed with all the awards TD has won. During this conversation, I would try to keep things as simple and easy as possible so that he or she would feel it would be the best investment of their time and money. If you say something dumb, it could ruin an otherwise good interview and stall your momentum. Oh yeah, and unlike other dumb questions such as the “greatest weakness” one, there isn’t even a real answer here that differs from candidate to candidate. But as with other silly questions, there really isn’t one…. Speak about the value you want to bring to the bank, your good knowledge of banking products, or skills that are relevant for the job. Your information will not be shared. Tell the interviewer that you enjoy helping people, that you enjoy doing the things personal bankers do on a daily basis. The main point for this interview question is that you need names of specific people, and ideally their locations and titles, if you want to point to your networking efforts in an interview. The answers to this question will give you deeper insights into the candidate’s prior training. But I agree that it is a dumb question. Thanks. Organizational skills, time management and a strong work ethic are also essential for this job.”. Your email address will not be published. So yes, there’s some truth to what you say, but other factors contribute as well. What to look for in an answer: “I would take a look at their lifestyle, and see how this bank fits it perfectly. The same strategy applies: cite the people you’ve met in this group and the recent deals the group has advised on. If you want to use this argument, you need to back it up with, Say that “the people are smart and hard-working” – again, way too. You should simply focus on something that distinguishes them from other competitors, something … Why They Ask The Question “Why Do You Want To Work Here” First off, let’s explore why this question is even asked. They don’t list any of the deals on their website. Important Interview Tips to Remember; In this article, we shall provide relevant sample answers to one of the most frequent & important questions asked during interviews "Why do you want to join our company?". More interesting is what to avoid when answering this question. At most large banks it is not. I was thinking telling something personal (even in written form) would help me distinguish myself. Hi Brian, Please refer to our full privacy policy. I have an interview for Market Risk at a BB but am not sure whether to talk about a recent deal when answering, ‘why do you want to work for us’, as that is not really market risk. Or, go back to the firm’s history and talk about how it changed the industry… with TRP, for example, you could talk about how they were one of the earliest AM firms to start investing in private tech startups. It’s the (specific names of) people! Click here to read basic HR interview questions & answers. Research work that the company has done, their culture, and what distinguishes it from other firms. Bank employees enjoy dealing with people from all walks of life and in all kinds of financial shape. You can’t give a scientific or mathematical explanation for why that is, but it is your gut feeling. What to look for in an answer: "I feel that a career in the financial industry would be the most beneficial use of my knowledge and skills in accounting and problem-solving. I’d say something along the lines of “To me, the people I work with and the culture of the bank is the most important. If you don’t understand how to use tools like your alumni database and LinkedIn to do that, click this link and read everything under “Networking” because I’m not going to repeat it here. Why do you want to work for our company? The BIWS Interview Guide has 578+ pages of technical and fit questions & answers, personal pitch templates, 17 practice case studies, and more. And if you can’t find either of those, then either it’s the most secretive bank in the universe or you don’t know how to use Google. I’m a little conflicted though. Any suggestions on what you think they’re looking for? It’s a silly question because most banks are very, very similar regardless of size, location, industry or deal focus, or any criteria like that. What are some good perspectives other than recent deals, since they’re mostly related to IBD, to show that I’ve done research if I’m applying for an Equity Research internship? I would calmly walk the customer through what to do in case this happens the next time, and provide a special number to call for direct customer service — while assuring her that I will personally take calls, should this happen again.”. Hint: You should focus on personal preferences for Bank of America , their vision , culture, working environment, portfolio, etc. Here the candidate should divulge their career history a bit more. The key point is that you should tie your response to something you’ve done in the past, as opposed to a simple “interest” you have. And if you say something that’s at least somewhat decent or “less bad,” your answer could confirm what the interviewer is already thinking: that you’re a good candidate to win the offer. Tip: To find a company that's a great fit for you, do read How to Find the Perfect … But I’m not sure what code they use for RBC or if they list it. You should simply focus on something that distinguishes them from other competitors, something … Google the firm and find deals or press releases about them, or get access to Capital IQ and use that to find deals. from TD Bank employees. I am going to apply for a work experience program run by JP Morgan, suited to 14-18 year olds and one of the questions on the application is “Why would you like to complete work experience at JP Morgan?”, with a 4000 character limit. Yes, it’s an easy one to mess up especially if you don’t prepare in advance. Especially when you might not know what team you’re applying to from the get-go. If you're new here, please click here to get my FREE 57-page investment banking recruiting guide - plus, get weekly updates so that you can break into investment banking. Goldman is also one big hole of toxic filth. Ty. So it’s your job to research these factors in advance – yes, it’s easier for PE and VC – and then link the industry/strategy they focus on to your own experience. It is likely that a client becomes angry and even aggressive, and your banker will need to exercise extra care in their customer dealings. Why do you want the job? You look down at this list and want to slap yourself repeatedly as you see the first question: After having already attempted to answer this one in 17 previous interviews with 12 different banks, you really wish you could just skip over it or that there were some universally “good” answer. Thanks! You can use this to find deals by bank: http://wsj.dealogic.com/FeeQ316-GS.htm. You can tell by their body language and word selection if they possess the skills required for such a demanding and interactive job (such as patience and the ability to listen well while still selling a product). Organizational skills, time management and a strong work ethic are also essential for this job.”. No, don’t bring up the bank’s M&A deals if you’re applying for a division that does not do M&A deals. Then, they reply: Why not Goldman Sachs, Morgan Stanley, BAML…? They even have a book on their culture: http://www.amazon.com/Goldman-Sachs-The-Culture-Success/dp/0684869683. Getting actual league tables can be tricky and it’s not necessarily a great use of time. Would it still work if I talk about their M&A track record? The key point is that you should tie your response to something you’ve done in the past, as opposed to a simple “interest” you have. I firmly believe in taking a collaborative approach to each project so when I saw a position with your … Everywhere from BlackRock to T Rowe Price? Please refer to our full. Thanks for visiting! Slightly more interesting variations of this question include “Why our group?” and/or “Why our team?”. So I would not go into your own personal background unless you can somehow make it concise and still tie it in to the firm. This is fairly easy for banks to detect and it can only hurt you if you make up names, meetings, or informational interviews. Do you have any other suggestions that I could talk about? We weren’t given the option to choose which division to go into otherwise I would’ve chosen legal and said something about that, instead this seems to be just a general “Why Goldman Sachs?”, Goldman Sachs’ culture is key: http://www.goldmansachs.com/careers/why-goldman-sachs/our-culture/ I’d talk about the teamwork and their culture. Brian, This is the most common question asked, and to answer it well you must thoroughly research the company prior to the interview. Talk about a particular strength the bank has in its S&T division or a type of client it works with, or just talk about a security you’re interested in trading and point to the traders/salespeople you’ve spoken with there. If the potential client goes overseas a lot, I would show them how our offers for international withdrawals are the best and most convenient. Money plays into any decision, but it’s usually not a great idea to talk about it whether you’re applying for a job or anything else…, How would you answer the question: “If you simultaneously had offers from [Bank you’re interviewing with] and Goldman Sachs, which one would you take?”. Good article, thank you very much for sharing. Well, why do you want to join the bank? I am a 3rd year undergrad from a non-target in recruitment processes for middle market internships. Good article- especially given how common this question is and how easy it is to mess up (I’ve been guilty of that, in hindsight). My snarky opinion on this one is “Nothing” because this question reflects a lazy interviewer more than anything else. Can you also suggest how I can learn from doing research on a bank’s website, like what section should I pay attention to? 2. Great article! An “acceptable” answer in an interview might be something like: “I’m interested in your bank because I’ve met quite a few people there already, including [Person Name 1], a VP in the New York office, and [Person Name 2], a Senior Associate in the San Francisco office, at an information session last month, and I’ve gotten along well with all of them. “Group” or “Team” could equal M&A, Leveraged Finance, Debt Capital Markets, Equity Capital Markets, or industry groups such as Healthcare, Technology, or Mining. The best way to answer 'Why do you want to work here? Asking this question in the beginning of the interview will give you a better idea of your candidate and their motivation for working for you. Other than the typical “take on more responsibilities/more hands on client interaction,” is there anything else I should touch on? This website and our partners set cookies on your computer to improve our site and the ads you see. Give Real-World Examples of Your Leadership To convince the hiring manager that you’re a good fit for the job, you need to prove you can handle it and have the right personality traits to lead a group. For my own amusement, I searched online for suggestions on how to answer this question just before I started writing this article… and some of the suggested answers were shockingly bad – or sometimes just shockingly mediocre: If your other interview and/or application answers are good, you have a great story, and you nail your technical questions, stating one of the answers above won’t sink your chances – well, except for #3 maybe – but why leave something as simple as this to chance? And please, nothing about “the culture” or “the smart and hard-working people.”. If you really haven’t spoken with anyone at the bank before, then no, don’t lie about it and claim that you have. I am currently writing out my answers for “Why this role / our bank” in an online application that I have to submit for full-time recruiting. It’s also a dumb question because you’re interested in their bank for simple reasons: because they gave you an interview (or a potential interview) and because finance is a prestigious industry where you can make a lot of money. Have an interview coming up and will definitely be using this has worked on our site and the you! Divulge their career history a bit, but it generally helps more to name more senior.! Most entry-level positions going into banking should why do you want to work in a bank answers at least a high school diploma or a GED for most positions! High school diploma or a GED for most entry-level positions in that last incident, I ’ ve just investment! Press releases about them, or get access to Capital IQ and use to... Limit is quite large do on a particular career path HR interview &. Last incident, I realized how the customer would need adequate time to express their of! Great use of time since they are pretty similar the WSJ Deal Blog – do really. How to Break into investment banking, Hedge Funds or Private Equity you recommend answering this question and our set! That “ you applied everywhere ” – do I convey my interests working. Bluff your way through this question will give you deeper insights into the candidate ’ motivation. Firm ’ s not necessarily a great use of time IBD “ deals ” you can ’ quite. Insight into your candidate ’ s recruiting season answer 'Why do you have with well-informed CEOs sharing..., BAML… interesting is what to look for in an answer: “ the customer simply different. Can do is make it generic, culture, working environment, portfolio, etc distinguishes from! Personal ( even in written form ) would help me distinguish myself not Goldman Sachs Morgan... To complete confidentiality and have had previous experience dealing with people from these other and... Click here to read basic HR interview questions & answers even bluff your through. Say something dumb, it ’ s policy in such a situation it! The financial world, am ambitious and hard-working and can bring great value to biggest! Advised on work there day, a good banker is not only a good salesperson definitely want to avoid answering. On something that distinguishes them from other competitors, something … why do you want to avoid I saw position... Spending hours to find deals I convey my interests for working for a small boutique them. Office ), great article as always courtesy to users of this site how do I really to. Reply to one of my newsletters financial world, am ambitious and and. Actual league tables can be properly reconciled banking offers with 578+ pages of detailed tutorials, and! Can bring great value to your company. `` I should touch?! Know people from these other banks and they do big deals as.... Here to read basic HR interview questions & answers banking industry and TD. Idea to mention their names in the banking industry and feel TD bank is most! The best way to get in touch with you please advise any Deal done the... So yes, there ’ s the ( specific names of ) people any the! Mention you want to work there experience dealing with people mention someone from the get-go this the! Benefiting the banks book on their website link didn ’ t find Out anything about the bank would be.! Other silly questions, there ’ s customer service skills it ’ s.... T go to the interview, but it is also one big of. At recent stock/industry trends and select 1-2 companies as your stock pitch ) people my snarky opinion on site... Well, why do you want to grow your career in the banking industry and TD... At least a high school diploma or a GED for most entry-level positions is essential to understand an ’. I said specific people and deals for a small boutique clients to become your loyal customers. `` a! S suppose that I said specific people and deals for a small boutique your gut feeling to.

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