How should I feel about my BB IB Lateral Interview?
I recently had a lateral interview/technical screen for an associate position at a lower-tier BB. I graduated summa cum laude from a non-target school and, although I lack professional finance experience, I do have a background in consulting at a Big 4 firm and hold a Master’s degree in Public Policy. During the interview, the questions were quite challenging; there were no inquiries about the three financial statements, depreciation, or even a walk-through of a DCF. When I followed up with a friend in the industry afterwards, he mentioned that the questions I faced were actually at the post-MBA associate level. Before the interview, I had discussions with the interviewing team regarding my deal experience (which is nonexistent), and I was reassured that they were mainly interested in my understanding of corporate finance basics. Is this typical for a lateral interview? I’d appreciate any insights!
One response
It sounds like you had a pretty intense interview experience! It’s not uncommon for lateral interviews, especially for positions at investment banks, to vary widely in terms of the questions asked, particularly if you’re coming from a unique background like consulting and public policy.
The level of difficulty you experienced may reflect the firm’s specific needs at the associate level or their interest in candidates who can think critically and handle complex financial concepts, even if they don’t have direct experience. Since you mentioned that the questions felt more like post-MBA level, it may suggest they’re looking for candidates who can quickly get up to speed and add value, which could be an indication of the type of role they’re trying to fill.
It’s also worth noting that interviewers might have a different focus based on the team’s dynamics or the particular skills they need to complement their existing team. Your academic achievements and consulting background might have led them to gauge your analytical and problem-solving skills more than just traditional finance knowledge.
Overall, while it might seem intimidating, it’s not unusual for firms to assess candidates differently based on their unique backgrounds. If you felt you handled the questions well, that’s a positive sign! Best of luck with the outcome, and take it as a learning experience regardless of the result.