{"id":466,"date":"2018-12-07T15:26:26","date_gmt":"2018-12-07T20:26:26","guid":{"rendered":"http:\/\/blogs.darden.virginia.edu\/career-development\/?p=466"},"modified":"2018-12-17T16:46:20","modified_gmt":"2018-12-17T21:46:20","slug":"12-interview-tips-for-mba-internships-in-consulting-finance-and-tech","status":"publish","type":"post","link":"https:\/\/blogs.darden.virginia.edu\/career-development\/2018\/12\/07\/12-interview-tips-for-mba-internships-in-consulting-finance-and-tech\/","title":{"rendered":"12 Interview Tips for MBA Internships in Consulting, Finance and Tech"},"content":{"rendered":"

T<\/span>here\u2019s little else more nerve-wracking in the job or internship application process than preparing for an interview. Plus, MBA students might have various competing priorities during the traditional internship recruiting cycle\u2014exams, holiday travel, spending time with family\u2014not to mention trying to catch up on sleep and personal wellness.<\/p>\n

As part of Darden\u2019s career education curriculum, over a dozen Career Development Center (CDC) advisers and Second Year coaches recently held question and answer sessions designed to provide First Years with tailored, industry-specific interviewing guidance and recommendations.<\/p>\n

Read on for helpful tips from CDC advisers with decades of sector experience and the Second Year coaches who successfully navigated the First Year recruiting cycle just months ago.<\/p>\n

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Consulting Case Interview Tips<\/strong><\/h1>\n

Practice case interviews with diverse, insightful individuals.<\/strong><\/h3>\n

CDC advisers frequently encourage First Year students to practice case interviews with a diverse set of classmates and Second Years to seek out critical and constructive feedback.<\/p>\n

\u201cDon\u2019t case too much with your friends. Case with people who scare you.\u201d \u2014 Brad Erla, Second Year coach, summer consultant and incoming consultant at BCG.<\/p>\n

Assume positive intent, but don\u2019t assume interviewers have read your resume. <\/strong><\/h3>\n

Gunville reminded students that while they may have spent months connecting with alumni at consulting firms, those new acquaintances may not actually participate in January interviews.<\/p>\n

Senior client service personnel typically run the first round interviews, then \u201cyou will likely meet partners for your final round interview who may or may not reviewed your resume in detail,\u201d Gunville said.<\/p>\n

\u201cAlways give context. There\u2019s no guarantee that they looked over your resume.\u201d \u2014 Second Year coach Tim Gao, who spent his summer interning with BCG.<\/p>\n

Be adaptable and incorporate feedback between first- and second-round interviews. <\/strong><\/h3>\n

Many interviewers provide actionable feedback to help you target your practice between rounds one and two of interviews.<\/p>\n

\u201cTake it to heart and focus your ongoing practice on the development opportunity they identified. They will be looking for marked improvement in that area before extending you the offer.\u201d \u2014 CDC Senior Director of Consulting Careers Christy Gunville.<\/p>\n

\u201cEnsure that you never make the same mistakes. Everything you do has a purpose. Know that purpose and make sure the person who is interviewing you knows it, too.\u201d \u2014 Second Year coach and former EY-Parthenon summer consultant Franklyn Darnis<\/p>\n

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Investment Banking Interview Tips<\/strong><\/h1>\n

Have answers for basic and advanced technical questions.
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\u201cIf you miss a technical in the first-round interview, you probably won\u2019t be invited to the second round.\u201d \u2014 Second Year coach Jay Jaber, who spent his summer as a Moelis & Company associate.<\/p>\n

\u201cIn regards to technical questions, answer them and avoid rambling.\u201d \u2014 CDC Associate Director of Career Education and Advising Ed Yu<\/p>\n

Share real weaknesses and failures. (But make them good.)<\/strong><\/h3>\n

Aspiring bankers should prepare for behavioral questions, in addition to a variety of technicals. Students were encouraged to use real-life examples of how they responded to stress and failure.<\/p>\n

\u201cBehavioral questions can be equally punitive as technical. Focus on your weaknesses. Do mocks with as many people as you can as early as you can.\u201d \u2014 Second Year coach Taylor Pulling, who interned at Deutsche Bank.<\/p>\n

Be confident and poised.<\/strong><\/h3>\n

Interviewers can ask students questions designed to rattle nerves. Interviews can ask or create adverse conditions designed to test students\u2019 preparation and skills.<\/p>\n

To prepare for moments such as these, Yu and Pulling urged students to use resources like Interview Stream<\/a> and the 400 Investment Banking Interview Questions and Answers<\/a> guide.<\/p>\n

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Asset Management Interview Tips<\/strong><\/p>\n

Do your homework on both private and public firms.
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Invest significant time in asset management internship interview preparation.<\/p>\n

Resources like the Form ADV, PitchBook and the S&P Global Market Intelligence\u2019s Capital IQ Platform are available for researching private wealth management firms and annual filings and reports for public firms. Even company websites and news articles can be fruitful in students\u2019 searches.<\/p>\n

Understand the importance of your firm\u2019s location.<\/h3>\n

Interviewers can dedicate a significant amount of time to inquire about interest in their firm\u2019s location.<\/p>\n

\u201cCity is especially important, especially for cities off the beaten path.\u201d \u2014 Second Year and Darden Capital Management CEO Ryan Claxton, former MBA intern at Assurant<\/p>\n

\u201cThese aren\u2019t two- or three-year jobs. They don\u2019t anticipate that you\u2019re going to be moving on. It\u2019s a long-term commitment.\u201d \u2014 CDC Senior Director of Financial Services Careers Paul Reeder<\/p>\n

Have a variety of stock pitches ready to share.<\/strong><\/h3>\n

Reeder says the main portion of the interview will be dedicated to pitching a stock and recommended that students have at least three detailed pitches ready to share. Interviewees might spend over 20 minutes on average in an interview discussing stock pitches.<\/p>\n

\u201cDon\u2019t pitch Amazon. Understand what the firm does and pitch something that\u2019s aligned with their investment philosophy. Don\u2019t pitch something that\u2019s already in their portfolio. You can bring a one-pager on your pitch. Have a few copies on hand to distribute. It goes a long way after the interview.\u201d \u2014 Claxton<\/p>\n

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Tech Interview Tips<\/strong><\/h1>\n

Tell great stories.<\/strong><\/h3>\n

Strong answers to behavioral questions are key\u2014even during interviews for MBA internships in technology.<\/p>\n

\u201cBehavioral answers can come from academics, personal challenges, athletics, volunteering, anything like that. Give compelling answers.\u201d \u2014 Jenny Zenner, CDC senior director of technology careers<\/p>\n

Students without tech experience should tie answers to past experiences and make behavioral answers come to life for the listener.<\/p>\n

\u201cInclude an opening and provide the situation, task and contextual background. Incorporate dialogue into your story. Quotes show tension and challenges you overcame.\u201d \u2014 Zenner<\/p>\n

Understand the company\u2019s products. <\/strong><\/h3>\n

Interviewees should select two or three products associated with each company and be able to speak about those products in-depth. Be informed about any company\u2019s recent acquisitions or breaking news.<\/p>\n

\u201cGet to know them well in case you speak with the expert in that field. Understand how the company monetizes products and how they\u2019re positioning them in the marketplace.\u201d \u2014 Zenner<\/p>\n

Remember you could have a different timeline from other industries.<\/strong><\/h3>\n

While First Year students recruiting for internships in investment banking or consulting might have summer plans secured by early January, students recruiting for tech internships could experience a vastly different timeline.<\/p>\n

\u201cThe timing is different. Last year, students received 60 offers after March 1, and 100% of the Class of 2018 received internships.\u201d \u2014 Zenner<\/p>\n

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Additional Recommended Resources<\/strong><\/h1>\n