ORIGINAL POST —> I was offered a telephone interview as a 5th round interview, but instead I wrote back to the firm saying that I was happy to take a day off work and come for a face-to-face interview, and they took up my offer. Do you think I did the right thing? Any particular reason why I should have stuck with a telephone interview (even though it’s too late now). Thanks WHAT HAPPENED AT THE INTERVIEW —> IT WENT WRONG…I THINK I SHOULD HAVE STUCK WITH THE TELEPHONE INTERVIEW!!! I was told that two people would be interviewing me face-to-face, when they set up the interview. At the beginning of the interview, the first interviewer told me that he would interview me for 20-30 mins and then the second interviewer would interview me for another 20-30 mins. 10 mins into the first interview, a secretary comes into the room and tells us that the second interviewer has had to go somewhere, so will not be able to come. The first interviewer looks stunned (he has only been at the company for a month himself), and says that he was with her only 10 mins ago. He then drags the interview on for 50 mins, but he looks bored and after the first 20 mins, he looks as if he is making questions up on the spot to fill the time. At the end of the interview, he says that they will tell me tomorrow (Friday), but not heard back yet. Am expecting a rejection. I made the effort to suggest a face-to-face interview, which they agreed to and then I travelled 130 miles to attend this interview. This shows a lack of courtesy…right? I SHOULD HAVE STUCK TO THE TELEPHONE INTERVIEW!!!
Did I not say that when firms cancel interviews and/or postpone them that it could definitely be considered unethical? Well, there ya go.
DoctorToER Wrote: ------------------------------------------------------- > ORIGINAL POST —> I was offered a telephone > interview as a 5th round interview, but instead I > wrote back to the firm saying that I was happy to > take a day off work and come for a face-to-face > interview, and they took up my offer. > > Do you think I did the right thing? > > Any particular reason why I should have stuck with > a telephone interview (even though it’s too late > now). > > Thanks > > > WHAT HAPPENED AT THE INTERVIEW —> > > IT WENT WRONG…I THINK I SHOULD HAVE STUCK > WITH THE TELEPHONE INTERVIEW!!! > > I was told that two people would be interviewing > me face-to-face, when they set up the interview. > > At the beginning of the interview, the first > interviewer told me that he would interview me for > 20-30 mins and then the second interviewer would > interview me for another 20-30 mins. > Sounds like they had some serious issues to dsicuss. > 10 mins into the first interview, a secretary > comes into the room and tells us that the second > interviewer has had to go somewhere, so will not > be able to come. > He probably had some really important thing to do like read his e-mail > The first interviewer looks stunned (he has only > been at the company for a month himself), Good that you’re interviewing with senior people after 4 other interviews. > and says > that he was with her only 10 mins ago. and he’s so good at interviewing, he doesn’t cover for his uninterested colleague > He then > drags the interview on for 50 mins, but he looks > bored and after the first 20 mins, he looks as if > he is making questions up on the spot to fill the > time. Looks bored? WTF? You ought to be able to talk to anyone at an interview and make them not bored. If he doesn’t have questions, start asking them yourself. So what do you do around here? Oh that’s very interesting. I’ve thought a lot about modelling those kinds of things. Here’s what I think and then start a stimulating intellectual discussion. If he’s bored, whose fault is that? If all the other interviewers walked out of the interview saying what a powerful intellect and an interesting guy, would the other interviewer have found something more important to do (especially because that was baffling to the first interviewer)? > > At the end of the interview, he says that they > will tell me tomorrow (Friday), but not heard back > yet. Am expecting a rejection. Probably smart. > > I made the effort to suggest a face-to-face > interview, which they agreed to and then I > travelled 130 miles to attend this interview. This > shows a lack of courtesy…right? Lack of courtesy? Who cares? They’re giving you the courtesy of interviewing you for a job. They don’t owe you anything and if you drive 130 miles that’s just tough. > > I SHOULD HAVE STUCK TO THE TELEPHONE INTERVIEW!!! As if that would have changed anything.
They have someone else in mind. Or they don’t have this position any more. Be a man and get over it.
This guy has been posting his pity parties for months now
So if you want to get a job in equity research you have to do something constructive. You’ve been on AF for several years and never made any comments about anything related to anything about finance, pharmaceuticals, equities in general, anything that might be interesting in an interview. When you are in an interview do you have anything interesting to say other than I’m a physician but I think I would like to learn equity analysis will you please pay me to do it? Start learning about equity analysis - actually taking one of these exams might be a good idea. Pick up Barrons (I actually started learning finance by reading Barrons every week at the library). Read the WSJ. Check out posts by Tobias on airlines on AF (and obviously others). Post your analysis of a pharamceutical firm and try to defend it - you can practice this stuff here and it doesn’t cost anything. You might even hear some stuff that you can repeat at an interview and sound smart even though you ripped off the idea from someone else. Knowing something about medicine doesn’t mean jack when it comes to equity analysis except to the extent that you can evaluate clinical trials or something (and I think biostatisticians are much better at this than physicians). Your problem getting a job is that you have nothing to offer, not that you are making procedural errors.
drs Wrote: ------------------------------------------------------- > This guy has been posting his pity parties for > months now Check that “months” part again.
JDV, what books do you recommend for learning how to practice securities research using Excel and other important tools? Wallstreet Prep? I was given some advice on just basically pulling out the fin. statements and going through them. setting your own assumptions and running the numbers through. for someone in my position, what would you recommend to be the next step? after my FRM, i think i have an elementary understanding of investment management, and its time to actually settle down to do some real work and build on that area. what is a starting point that you would suggest?
I am not JDV, but I recommend the following: Applied Equity Analysis: Stock Valuation Techniques for Wall Street Professionals
drs, thanks. Doctor, don’t let their harshness get to you. i think they’re being “unnecessary”.
drs book recommendation sounds good to me. The problem with pulling up financial statements and going through them is that it’s really hard for big companies. For example, last year we were trying to reconcile some stuff on currency translation with John Deere and finally Super I just called it off as too hard. Since he is a whiz at this… Obviously, you can get close but you will never quite know if you have it down.
FrankArabia Wrote: ------------------------------------------------------- > drs, thanks. > > > Doctor, don’t let their harshness get to you. i > think they’re being “unnecessary”. People were nice and helpful the first 18 months. Eventually it gets old.
So he was rejected repeatedly for 18 months? I guess doctors usually had little experience with the interview games out there. That’s why he appears to be quite immature. Can’t blame him actually. But then if it has been like that for 18 months, then he really has some issues.
JDV, i noticed that a lot of these positions require a writing sample. what i want to do by December is be able to at least come up with a very basic security and industry analysis of the fin. services industry. it is also crucial for me to be able to utilize Excel proficiently. the problem is, its very tough given that i have limited information and not enough knowledge on how fin. institutions actually operate (how they classify debt, off balance sheet financing, valuation of key holdings). any clues as to how can i get started aside from just reading the basic analysis reports as set out by S&P and the more popular sources? in terms of security pricing, i plan to go about it by a basic dividend model of course adjusting for the rev and cost etc. given my assumptions.
Frank, DDM is rarely used in practice. Learn to project cash flows, discount them, and be able to understand scenarios and sensitivity factors that will affect your projections. I’ve told you this before and I’ll say it again: go to Amazon.com (or equivalent) and look up books on financial modeling - there will be plenty to choose from that will all give you the necessary information. Buy it and apply it. It ain’t rocket science my friend - pretty soon people are going to be ripping you like they’re ripping this doctor if you keep asking the same questions that you already know the answer to. One thing that every potential employer is going to be looking for in a hire: the ability to learn quickly and apply it. You speak of ibankers constantly…you know what pisses off a banker more than anything else? Asking them something a 2nd time. Get over this habit now - I’m telling you this to help you.
ripping the doctor is wrong and so is ripping me. but thanks for the advice. i have no shot in ibanking in any case. i have 3 fin. modelling textbooks, just wanted to know which ones you thought was best. what job doesn’t mind someoen that asks the question more then once? i have a slight touch of down syndrome.
I think you’re taking a beating here and I don’t know if it’s necessary as I don’t post/read enough of the board to be familiar with your saga but I do think embedded in there is some good advice. As for this job, I think you mentioned in the other thread this was phone interview #5. I still think you made a reasonable request in just going in for the face time. It was time for them to move you along or cut you loose.
FrankArabia Wrote: ------------------------------------------------------- > ripping the doctor is wrong and so is ripping me. > but thanks for the advice. i have no shot in > ibanking in any case. i have 3 fin. modelling > textbooks, just wanted to know which ones you > thought was best. > > what job doesn’t mind someoen that asks the > question more then once? i have a slight touch of > down syndrome. Do you really? By slight touch, you mean you have some translocation or something? If you have full-blown Trisomy-21 you are doing absolutely great. Edit: In fact, if you have Trisomy-21 and you have passed a couple of CFA exams, you are my hero and one of my most admired people. If you are just joking about Down Syndrome, you are a classless clod.
FrankArabia Wrote: ------------------------------------------------------- > JDV, i noticed that a lot of these positions > require a writing sample. what i want to do by > December is be able to at least come up with a > very basic security and industry analysis of the > fin. services industry. it is also crucial for me > to be able to utilize Excel proficiently. > > the problem is, its very tough given that i have > limited information and not enough knowledge on > how fin. institutions actually operate (how they > classify debt, off balance sheet financing, > valuation of key holdings). any clues as to how > can i get started aside from just reading the > basic analysis reports as set out by S&P and the > more popular sources? > > in terms of security pricing, i plan to go about > it by a basic dividend model of course adjusting > for the rev and cost etc. given my assumptions. Here is a starting point if you want to undestand the financial services industry. Read Goldman’s 2006 10-K cover-to-cover. Maybe not cover-to-cover but definitely the description of their business, MD&A, financial statements and all the notes. Best bet is to print them out (double-sided to save trees) and mark 'em up with those page stickies and highlighters. Once you’re familiar with the K do the same for Lehman. Then try a few money center banks like C and BAC. By this point you should know what to look for and each one will take you less and less time. Move on to some mortgage banks like CFC and WaMu. Then maybe a finance company like CIT or COF. Maybe a regional bank if you want (NCC or PNC), or a GSE like FRE or FNM. Could round it out with an asset manager (LM or BLK) or an insurance company (I don’t cover these so I don’t know who is good to look at). This info is all easily available to anyone and is all you really need to cover a company. For all the data services and fancy analytical techniques out there, the pros still start with the K for deep fundamental analysis.
Geez, why don’t you start that process with Goldman’s 10-K on AF. Probably would help lots of people.