WST successful student Victoria
"On March 1, Evercore's OA was opened, and I immediately voted. Then Evercore's application timeline was very fast, do you know? One week. I finally met and received verbal offer verbal offer 6 about 8 hours."
At the end of March, Victoria
from Top 30 University got Evercore IBD 2023 summer internship offer
and a bunch of well-known investment banks' sophomore program
(details below)
Today, she will share the entire process of getting ashore
* Hope it will be helpful to peers and juniors in the job search season
review! The real feeling of Evercore
Hi, everyone, I am Victoria. Let’s get straight to the point, let’s talk to you about the entire process of my interview with Evercore.
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Evercore interview process (detailed version)
I applied for two division of IB at that time, and both asked technically.
Interviewer only asked me 'tell me about yourself' this behavioral question , the rest are technical questions, mainly including
- multi-step accounting
- EV calculation with different tweaks
- valuation methods and multiples
You can search more and more difficult technical interview questions on the Internet, and Evercore asks even more difficult~
- Do you know how to perform a LBO analysis?
- Explain how a convertible bond works.
** Strongly recommend that students who want to enter high-quality investment banks must consolidate their foundation, otherwise they will be G in the first level. The final interview of
Evercore gives me the feeling that it is very long. I have 4 30 minutes 1V1 interviews . I know that the online evaluation of investment bank Superday is very unfriendly, but I feel that the final interview will be a little more relaxed, because the interviewer will definitely be confident in the technical of the candidate in this round, so he will pay more attention to fit.
Of course, Superday still has technical questions. The difference between it and one side is that technical on the other side is to calculate things, allowing you to do math problems, while Superday is more like a problem solving, giving you a larger problem to solve.
2
Evercore has too many immortal groups. I was once confused about
Before receiving the Superday interview invitation, I was asked to only choose one division. Here, I won’t disclose my choice, but I can share with you two top groups Rx and MA in the industry.
*The following content: Some of them were told by the WST investment banking tutor during class, and some of them were known to me and Evercore banker for networking.
♀️Evercore is very powerful, both of which are in advise high profile deals.
For example, in April last year, Microsoft acquired smart voice giant Nuance Communications for an all-cash transaction of US$19.7 billion (approximately RMB 129.007 billion). Goldman Sachs is the exclusive consultant to Microsoft, and Evercore is the exclusive consultant to Nuance .
This deal was led by Evercore's New York office and combined with TMTh group banker. In Nuance transactions, received $63 million in consulting fees and $7 million in Fairness Opinion fees .
Other investment banks ( JPMorgan Chase and Morgan Stanley also provide consulting services for Grab) have also participated in these transactions, but Seller consultants usually charge the most fees .
Let’s talk about the Rx group. Everyone knows that due to the impact of the epidemic and the economy is in a downturn, we will definitely suddenly receive many big orders, so I won’t talk about it here.
Here is a reiteration of the point: In fact, no matter whether the economy is good or bad, many companies, even if they are not facing bankruptcy, will need banker to reorganize the balance sheet and slightly integrate capital structure.
Rx and MA are equally important divisions. But I personally think that Rx deals are more influential, more complex and more exerciseful.
♀️The difference in technical interviews between the two groups
Corporate finance Both groups are suitable, including brief statements, enterprise value calculation, etc. The difference in technical interviews is summarized as shown in the figure below.
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5Evercore's culture is also very good!!!
While I chatted with Evercore professionals, I felt that everyone is full of enthusiasm for their work, team, and firm. banks of
Evercore are also particularly willing to share their work. I call them and keep talking even if it takes more than 15 minutes or 20 minutes.
These are some basic questions I have asked myself. You can apply them when you are networking~
- What do you do on a daily basish
- You describe your firm's culture, why do u choose MA
- What’s the one memorable moment at Evercore?
My belief in job hunting: I must be a "Nether"
In fact, in addition to Evercore, I have also applied for 2023 summer internships from more than 10 investment banks.
It can be seen that I prefer high-quality investment banks.
Because high-quality investment banks recruit fewer people every year, I feel that the responsesabilities and exposure can be a little more. And from the people I network, people from high-quality investment banks are more willing to talk about their life. They are more passionate about their work.
But the nine major investment banks are also very good (refuse to induce war).
I can cast a wide net because I have a little spiritual master around me, that is, I, Strategist Mentor, Zoe. She is very enthusiastic and will remind me which company positions are open. Remember to apply and help me manage my time well.
This is why I, who was busy with my studies in my sophomore year, can also get sophomore program offers including PJT, Evercore, Barclays, Credit Suisse, and BlackRock.
Evercore Exploratory Program offer
PJT Partners Insight Program Offer
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Sophomore program application process (detailed version)
I remember most sophomore Programs are open for applications in mid-January. The first step in applying for is to submit personal information and resume, cover letter. I actually prepared these last year, but I updated them slightly at the end of the year and handed them in January. Speaking of this, I have to thank Jerry, Bruce, and Maggie. They just joined WST in my freshman year and told me about finance recruiting timeline, so I started preparing my resume and cover letter in my freshman year. After submitting
, I started to do networking more targetedly: Among these companies with sophomore programs, I found 1-3 alumni chats, and mentioned in the conversation that I applied for their program.I don’t think it’s necessary to push for referral. If these alumni like you, they will naturally talk to HR (personal experience).
Zoey also made me a network application tracker like an excel table, so that I can record it.
2
Sophomore program interview process (detailed version)
The interview I got to the program was about the end of January and early February. I think the interview with the Sophomore program is quite simple. I will ask many questions such as why banking/why this firm/why finance based on resume.
However, PJT asked quite a bit, and there was a question about Rx related, which is also because I mentioned that I like Rx. Don’t say it easily before you do enough homework, the interviewer will definitely ask the follow questions.
mainly examines professional interest and communication skills . It would be quite helpful if you can name drop and coffee chat with someone at this time.
Market knowledge is also quite important. If you apply for an Equity Research-related position, you will likely ask stock pitch, and if you apply for an Investment Banking-related position, you will likely ask deals, and if you apply for an ST-related position, you will likely ask yield curve/FOMC meeting content and so on.
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Feelings of participating in the Sophomore program
Let me talk about the Evercore women program.
Program is conducted online, with about 100 people, mainly listening to senior women, there are several panels, and opportunities to follow analyst network. Although participating in this program does not guarantee a one-side/final invitation, is also a good opportunity to understand Evercore .
I interviewed Evercore and also took the initiative to mention this experience. The guys who met me at that time were all male interviewers. I was very happy to hear my feedback and they all said 'i am really glad u said that'.
Who has not been rejected for a job? I am also
Don’t look at my previous appearance, but I was actually quite a failure in my sophomore year.
When I was older, I also entered BoA, UBS diversity program interview, result in the end, . I was lacking in the technical side at that time. For example, when I interviewed BoA, the interviewer asked me to walk through him a deal. I only talked about superficial things, not valuation, etc.
But if this fails this time, come next time. What's the point of crashing?
Encouragement is completed, I continue.
1
I didn’t want to apply for an investment bank at the beginning
My initial goal at the beginning was actually Asset Management and Equity Research. At that time, Bruce also told me a lot of market knowledge, many secondary market things (very dry goods) .
It was also with the help of WST that I successfully obtained the 2022 summer internship offer from asset management giant PIMCO~
PIMCO was founded by Bill Gross, known as the industry's king of bonds, and is headquartered in , California .
u1s1, WST really has a very comprehensive mentor resource.
At that time, I also applied for the very niche emerging market credit fund as an alternative for my summer internship in 2022. I asked Zoey if there was such a tutor, and she immediately arranged a tutor with relevant experience to tell me about credit analysis and credit investment.
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Scattering a wide net and fishing more, and then I know what I am interested in
Later, I learned and measured it from the perspectives of visa sponsorship, analyze headcount, networking opportunity, etc. I found that investment banking is more advantageous for a new college grad , so I applied for some banks that I like more during the main application season.
Then I don’t want to do industry group, so the application direction is investment banking product group.
As for the reason, it is that according to my understanding, there are more industry groups in the nine major investment banks, but there are no high-quality investment banks.
Plus, I am a college student now, and I don't know what industry group or sector I like, so why do I have to set up a consumer retail, technology media early? What if I don't like it, i don't have a way out. Product group is responsible for handling different industries but specific types of deals, so I can be sure what I like.
So I think it would be better to seek a job as soon as possible. Not only does it give yourself more time, prepare for job hunting and increase your success rate when you go ashore, it also allows everyone to find a career that they are truly interested in. At present, more than 20 Wall Street investment banks have opened their summer internship applications for 2023. I hope everyone can get offers!
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