Bulge Bracket Industrials M&A Analyst, London

Q. Hello, thanks for taking the time to interview with us, we know that M&A life is very busy. Could you just give us a brief introduction of your background to start with?

A: I first studied accounting as an undergraduate, and then I studied for a master in Finance from LSE (London School of Economics). Before getting a full time job in M&A, I first did a one year placement with Citi IBD in Healthcare. After 2 years with my first employer, I moved to another bank as a senior analyst in Industrials.

Q:How was the interview process like when you first applied for a job in M&A? How about when you moved to your current employer?

A: The interview process for graduates is typically an accessment center. The accessment center was quite long and tiring. It is a bit difficult for students who have no prior banking internship or who don't know that much nothing about banking, which was the case for me. However I found out that it was more thinking style and personality fit tests rather than technical questions.

When I moved to my current employer after 2 years as a analyst it was different tough. The questions were much more about technical skills, personal career plan and personality fit. The technical questions I had were about DCF, LBO and Merger analysis, plus a few accounting questions. At the end of the day, it is about your experience, attitude and personality. Even if every candidate answers those technical questions perfectly, interviewers will actually make their decision based on the experience of the candidates and the "chemistry" between you and the interviewers.

Q: How is your typical day like? How many hours do you work per week?

A: My typical day is working on different things at the same time. I may work on 2 pitch books and 1 live buy or sell side deal at the same time. On the live deals, I can be involved in modelling, presentations or admin work. For pitch books, I typically do research, financial analysis, simple modelling, comps etc. Sometimes there is not much difference between working on deals or pitches. However, you have to go to far more detail if you work on a live project. On average, my working hours are between 80 and 90 hours per week.

 Q: What do you like and don't like about the job?

A: The good thing for this job is that the work is challenging and we have to develop skills about managing your time. Also I can learn many things about corporate finance and business investment, particularly when I work with experienced people and I always feel my brain is not big enough to digest so much information quickly. Of course the best moment is when we close deals and that is the accomplishment in the career. But life is not full of happiness. My day and week can be also very boring because tasks are repetitive. Of course long hours are not pleasant, particularly you have to keep working long hours for a few weeks and months. Now banking is tough because we still work very hard even though you may not have lot of deals.

Q: What are the qualities of a good analyst in your view?

A: A good analyst definitely has got right technical skills and is reliable. Team spirit is also extremely important. Beyond those, you should not only just sitting in front of your computer and crunch numbers, gradually you should be able to explain what you have done and what you find from your analysis. On top of that, confidence and managing the working relationship with other people are extra plus in your starting career.

Q: Do you have any interesting/ fun story to share with us?

A: The interesting story is that if you are a very good analyst, you can be the boss of your associates who might not have joined banking from an MBA or the industry. It is actually a great fun if you are in that position as YOU have much power to decide what you put in your pitch book. And they have to take you to the meeting because nobody else understands where the numbers come from in the excel model!!!