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100 Potential Interview Questions (no particular order)

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. Tell me about yourself. Tell me a joke. (Make sure it is clean) Why sales & trading? Why are you passionate about the markets? What is the square root of .1? If we gave you the offer right now, what would you say? Why this firm? What other firms are you interested in? Who is our CEO/Chairman? What is our market cap? What is our stock price? Equity or fixed income? Why should we hire you over the other 100 candidates we are going to interview this year? Who do you know at this firm? Sales or trading? What makes a good sales person? What makes a good trader? Name 3 sectors that you are long. Name 3 sectors you are short. Name a stock in each sector in the two questions above. Give me 3 stocks you are long. Give me 2 stocks you are short. Why business school? Why Stern? What's your favorite class? Teach me something from that class. What was your grade in that class? Do you like Stern? What do you like/dislike? Where are the S&P 500, DJIA, and NASDAQ? What are the percent increase/decrease YTD? Last 12 months. Last 3 years. Same questions as #25 for FTSE and NIKKEI. How do you stay up to date with the markets? Name 3 things you read in the paper today and tell me why they are important to the markets. If you could have dinner with anyone dead or alive, who would it be? What is libor? What is libor's current level? What is spot? What is a forward rate? Draw today's yield curve: 3m, 6m, 2yr, 3yr, 5yr, 10yr, 30yr. Describe yourself. How would a friend describe? How would you boss describe? What kind of manager do you like? How do you work in teams? Describe a time when you worked successfully in a team. Describe a time when you worked successfully as a leader. Name 3 traits to describe yourself. Name 3 strengths. Name 3 weaknesses. Why wouldn't we hire you? If I gave you 1 million dollars, how would you invest it? What's the safest possible investment in today's markets? What role does the housing market play in the economy? Where is the economy going? Why? What was the most recent unemployment, consumer confidence number, housing starts, personal spending etc. etc. number? (know all recent economic data points) What do these data points mean for the economy? Based on this, where would you invest? (do your recommendations for stocks and sectors etc. jive with your assessment of the economy?) Name a fixed income product you would recommend me buying. What factors control currency exchange rates? What is duration? What is the duration formula? How does it work? What is Black-Scholes? What are the main components of B-S? What is 13/16? Here are three sectors (Paper, Defense, Tobacco, Technology, Software, Healthcare, it could be anything). Are you long or short and why? What is the biggest risk you've ever taken? What's your biggest failure? What's the most important thing to you? How has b school changed your life?

60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74.

What is the yield curve? What motivates you? What is your least favorite class? What's your biggest accomplishment? Give me an example of something quantitative you've done in the past. If you haven't done an informational here, why not? What do you think the FED will do at the next meeting and why? What did the FED do at the last meeting? Do you agree with the FED's actions? How can the government influence the economy? If you couldn't do sales & trading, what would you do? Name the best party you've ever been to. If you had a day to do anything you like, what would you do? Where do you see the S&P 500, DJIA etc. in the next year? Why? If interest rates drop 20 basis points, how much does a zero coupon 2yr bond's increase/decrease? 75. What makes you unique? 76. What do you think of affirmative action? 77. What do you think of the president? 78. What is the price of oil, natural gas or gold? 79. Walk me through your resume. 80. Why did you change jobs from abc to xyz? 81. What's your favorite sport? 82. What interests you outside of work? 83. Tell me what a trader does. 84. What is the dow jones industrial average? How does it work? 85. Tell me something you've quit. 86. How do you value a company? 87. What ratios do you use when valuing a company? 88. When you look at a company's financials, what do you look at first, second, third and why? 89. Name a time when you've sold something. 90. What are your short/long term goals? 91. Have you ever dealt with an ethically ambiguous situation? What did you do? 92. What is CAPM? Why is it useful? 93. Where are the following currencies trading? Euro, Brit. Sterling, Yen. 94. A sports player (let's say baseball) will have the option to get paid a fixed bonus (let's say $5 million) or a bonus based on how many homeruns he has hit over the course of a season. If he chooses the bonus based on homeruns, he will get paid $166,000 per homerun that he has hit over the season. The baseball player will have to make the choice between either bonus structure halfway through the season. How would you value this option at the beginning of the season? 95. How does inflation affect the bond market? The stock market? 96. Outside of classes, what is your favorite thing at school? 97. A customer gives you a buy order which you complete. Afterwards, she/he claims it was a sell order what do you do? 98. Where do you think interest rates are going? Does this always depend on the FED? 99. Why would you pick our firm over the other firms that you are interviewing with? 100. Do you have any questions for me?

Interview Brain Teasers:

Interview Brainteasers
A train leaves from NYC heading towards LA at 100 mph. Three hours later, a train leaves from LA heading towards NYC at 200 MPH. Assume there's exactly 2000 miles between LA and NYC. When they meet, which train is closer to NYC? view the answer What is the sum of integers from 1 to 100? view the answer

A snail is climbing up a 10 foot pole, it climbs 3 feet per day. While it sleeps at night, it slides down by 1 foot. When does it reach the top of the pole? view the answer Your sock drawer contains 8 red socks and 11 blue socks that are otherwise identical. The light is broken and you must select your socks in the dark. What is the minimum number of socks you need to take out to guarantee a matching pair? view the answer You are given a scale and a set of 12 marbles. One of the marbles is a different weight; it may be lighter or heavier than the rest. Identify and discard the different marble using the scale a maximum of 3 times, and determine whether it is heavy or light. view the answer From the term structure of interest rates you see that the five-year spot rate is 10% and the ten-year spot rate is 15%. What is the implied forward rate from year five to year ten? view the answer


Valuable Resources Offline Resources:

Students interested in sales & trading should subscribe to both the Wall Street Journal and Barron's at a minimum. Student subscriptions are available to both.

Online Campus Library:

The Investext database of research reports available from any terminal on campus is very useful for a couple reasons: 1. it gives you updated research for your longs and shorts for your interviews and 2. it provides detailed research reports on the firms you are interviewing with.

Financial News and Research
http://www.bloomberg.com - Market Data area is great to quickly update yourself. http://cnnfn.com http://finance.yahoo.com http://www.hoovers.com http://moneycentral.msn.com http://www.quicken.com/investments http://www.usatoday.com/money http://www.thestreet.com http://www.capitaliq.com - Get your password from OCD.

http://www.federalreserve.gov http://www.federalreserve.gov/fomc/beigebook/2003v http://www.sec.gov http://www.sec.gov/edgarhp.htv

http://www.nber.org http://www.conference-board.org http://www.tcb-indicators.org

Fixed Income
http://www.bonds-online.com http://www.creditsights.com

http://globalmarkets.bankofny.com/Markets_IRD.asp - Descriptions of interest rate derivative products http://globalmarkets.bankofny.com/Markets_EQ.asp - descriptions of equity derivatives products

Job Functions and Skills

People, who work on trading floors, work in an environment unlike any other in American business. Generally, trading floors are large open rooms with many people packed closely together with a myriad of computer screens, tickers and televisions pumping out information to the salespeople and traders. In a sense, the floor itself is a processing center, where information and capital are fused into trades. Each floor is one small part of an enormous global market. Your first visit to a trading floor may be overwhelming. Traders and salespeople may be yelling back and forth, sometimes nearly incomprehensible orders. Here you will see teamwork, stress management, communication, client management and strategy in action. Salespeople and traders must be able to understand current events, economic indicators and financial data, formulate opinions and then make split second decisions upon which millions of dollars may rest. Like any market, there are buyers and sellers. Sellers, a.k.a. sell-side firms, are typically the Wall Street investment firms like Goldman Sachs, Merrill Lynch and JP Morgan Chase. These firms originate securities, buy and sell secondary securities for themselves and for clients and generally provide liquidity to the market. On the buy-side, there are a wide range of firms, hedge funds, retirement vehicles, insurance companies and mutual funds to name a few. Typically, these firms manage assets for clients and make investing decisions based on market movements, the economy or individual stock stories. Much of the advice and information on this site is directed towards sell-side firms.

What are the attributes of someone who is successful in sales & trading?

Team-oriented Analytical and quantitative Entrepreneurial Attentive to detail Quick to process information and make decisions Interested in current events, financial news and economic fluctuations Interested, no, passionate about finance and investing Understanding of the economic movements and trends Ability to communicate quickly, carefully Ability to sell an idea Fun to be around

So what do you want to do once you reach a trading floor?

Salespeople act as the liaison between the firm and the investor. Salespeople are tasked with building strong relationships with their clients in order to develop and grow business. Salespeople must remain up to date on current events, the economy and market trends, because clients are constantly interested in hearing new perspectives as to what is happening in the market. The daily routine for a salesperson changes from desk to desk, depending on the products and the market with which the salesperson is involved. Some sales people may be responsible for providing clients with access to research and research analysts. Some salespeople may be more transactional, helping clients more in and out of trades all day long. Most salespeople will spend most of their day on the phone. On many desks, the day begins with a morning call where research analysts provide insight that could be valuable for the day ahead. Sometimes, the salesperson will have client meetings or have conferences to attend with clients. Some sales positions will require traveling while other positions may be less travel-related. In New York, the mornings are very busy. Most clients are anxious to hear what is going on in the markets. Sometimes, the announcement of an economic indicator can move markets drastically in one direct or another and clients will be pounding the phones to get in or out of an investment decision. The salesperson must work with the client and the trader in order to execute any new decisions that the client may make.

Like the role of a salesperson, the role of a trader can vary greatly depending on the market in which the trader trades. Some traders are market making, i.e. providing liquidity to the market. Some traders are taking proprietary positions, essentially risking their firm's capital in order to generate revenue. Some traders are using financial models and other software applications in order to price complex financial instruments such as derivatives. Again, a sound and intuitive feel for the markets, the economy, current events and how they are all intertwined are crucial traits of a successful trader. Traders don't typically leave their desks. They are working the phones and the computer screens all day long. Slight fluctuations in the market can have a serious impact on a trader's P/L and therefore most traders keep their eyes glued to the screens all day long. On a trading floor, traders typically dictate the prices that salespeople may release to clients. Once a trade has been made, a trader manages risk in order to ensure the trade is profitable. When the markets are quiet, traders may be calling salespeople and other traders to get a feel for what is going on. When they are busy, traders must react rapidly and explosively in order benefit from market movements.

Again, the role of a researcher could vary depending upon which markets the researcher is focused. Generally speaking, there are several types of research: individual equity, fixed income, economic and quantitative. On Wall Street, when someone says "research," it usually means equity research. Equity research analysts are generally divided into sectors, focusing on a specific industry. Unlike salespeople and traders, analysts spend much of their day modeling cash flows and completing in-depth analysis of a particular company. Analysts look a multitude of factors that may contribute to a company's performance: progress of a traditional line of business, entry of new competitors, new product launches, economic factors, purchasing trends, cash flows, tax and accounting implications among other things. When research analysts aren't analyzing something, they could be speaking to salespeople or clients about their opinions and insights. Or, they could be speaking with a company's management, attempting to get a clear idea of where a company is headed. Overall, a sell-side firm relies on its analysts to issue "buy" and "sell" recommendations and to provide direction on the markets and the economy as a whole. Research analysts provide much of the "thinking" that goes on within the markets.

Reading List Must-Reads

Liar's Poker, Michael Lewis


Heard on the Street, Quantitative Questions from Wall Street Job Interviews, Timothy Falcon Crack Vault Guide to Finance Interviews, Bhatawedekhar and Vault staff


Capital Ideas: The Improbable Origins of Modern Wall Street, Bernstein Against the Gods, Bernstein Den of Thieves, Stewart The Predators' Ball, Bruck The Education of a Speculator, Niederhoffer Reminiscences of a Stock Operator, Lefevre Monkey Business, Rolfe and Troob When Genius Failed, Lowenstein Manias, Panics and Crashes, Kindleberger Greed and Glory on Wall Street, Auletta

Equity & Markets Theory

A Random Walk Down Wall Street, Malkiel Paving Wall Street, Miller Market-Neutral Investing : Long/Short Hedge Fund Strategies, Joseph G. Nicholas

Bond & Fixed Income

The Handbook of Fixed Income Securities, Fabozzi Fixed Income Mathematics, Fabozzi The Bond and Money Markets, Choudhry


Options, Futures and Other Derivatives, Hull Swap & Derivative Financing, Das Valuation of Interest Rate Swaps and Swaptions, Buetow, Fabozzi

Links to Firms

ABN Amro Banc of America Barclays Bear, Stearns BNP Paribas Citigroup Credit Suisse

Deutsche Bank Goldman, Sachs & Co. JP Morgan Chase Lehman Brothers Merrill Lynch Morgan Stanley TD Securities UBS

Stern Sales, Trading & Research Club

Are you considering working on Wall Street? Are you a career switcher who enjoys thinking quick on your feet and finds the markets interesting? If you enjoy a fast-paced environment and interacting with people, the Sales, Trading & Research Club could be for you. Our goal is to educate first-year students about the sales, trading and research industry, and successfully prepare you for the summer internship process. Here are a few things that we offer our club members:

Resume Book: Our resume book is distributed to all the major Wall Street firms. This resume book is used as the primary recruiting source for the first-year students pursuing a summer internship in sales, trading and research. Speakers: We invite employees from every major investment bank to visit campus and discuss their experiences with our members. We also have panels of speakers, ranging from Associates to Managing Directors, come to discuss different areas of the industry. They offer personal insights and answer questions. Recruiting Events: One of the most important aspects of sales, trading and research is gaining valuable contacts. Last year we sponsored cocktail receptions, social events and panels with most major investment banks. Other exciting events included a mock trading session, alumni cocktail party and tours of major trading floors. The events allow students to interact with recruiters and members of the firms to establish contacts. Mock Interviews: The hardest part about working on Wall Street is getting your foot in the door! The Sales, Trading & Research Club prepares you for the interviewing process though intensive, individual mock interviews. We'll make sure you know everything you need to know about the market, so you feel confident going into the interview season. Office Hours: Sales, Trading & Club Club Officers make themselves available once a week during the recruiting season in order to answer questions and assist club members in the recruiting process. Other Educational Events: The Club organizes discussions with professors as well as industry experts to expose club members to different trends and movements in the industry. Club Officers will also hold educational events in order to teach club members what will be expected of them in the interview and internship process.

You may contact us at stclub@stern.nyu.edu.


As an alternative investment strategy, Private Equity commonly provides equity capital to enterprises not quoted on a stock market. However, a spectrum of Private Equity, such as private investments in public equity (PIPEs) and leveraged-buyout firms (LBOs), provide equity capital to publicly quoted companies. For example, some LBOs use private equity to take publicly quoted companies private. As pools of capital, private equity firms invest in companies that represent the opportunity for a high rate of return typically within five to seven years. Private equity firms look to start up, expand, buy into a business, buy out a division of a parent company, turnaround or revitalize a company. For example, early-stage private equity firms generally finance rapidly growing companies, while many of the late-stage private equity firms require stable and large cash flows companies. Further, private equity firms usually add value to the company they finance through active participation, taking higher risks with the expectation of higher rewards. Private equity firms are private partnerships or closely-held corporations funded by limited partners (LPs), such as private and public pension funds, endowment funds, foundations,

corporations, wealthy individuals, foreign investors, as well as the general partners (GPs) who manage the private equity firms. The private equity industry is comprised of venture capital firms (early-stage investors), leveraged-buyout firms (late-stage investors), mezzanine capital funds, distressed investing funds, and funds-of-funds. Venture Capital: Venture capital firms invest alongside management in young, rapidly growing companies that have the potential to develop into significant economic contributors. Venture capital is an important source of equity for start-up or early-stage companies. Investments usually range between $1 million and $20 million, and often involve syndicates of venture capital firms investing together. Leveraged Buyouts: A leveraged-buyout (LBO) is a strategy involving the acquisition of a company using a combination of equity and debt (bonds or loans). Many transactions are generally management-led buyouts, which are the purchase of companies in cooperation with the current management. Further, the acquiring company uses its own assets as collateral for the loans in the hope that future cash flows will cover the loan payments. Mezzanine Funds: Mezzanine financing is a niche component of the private equity market. Mezzanine securities are junior subordinated debt with equity warrants, and generally are used to finance leveraged buyouts or to provide late (bridge) financing for venture-backed companies. Mezzanine level financing can take the structure of preferred stock, convertible bonds or subordinated debt. Distressed Investing Funds: A fund that buys securities in distressed investments, such as highyield bonds in or near default, or equities that are in or near bankruptcy, with the goal of achieving high returns at bargain prices. Distressed investments are made in the debt of operationally sound, but financially distressed, middle market companies using a control-oriented strategy that focuses on the debt of smaller, less liquid issuers in certain industries. In general, distressed investing offers investors the opportunity to earn high, risk adjusted returns. Funds of Funds: A fund set up to invest in a selection of private equity funds, which in turn invest the capital in suitable in suitable portfolio companies. Fund of funds are specialist private equity investors and have existing relationships with firms. They may be able to provide investors with a route to investing in particular funds that would otherwise be closed to them. For a small institutional investor investing in a fund-of-funds can help spread the risk of investing in private equity because the capital is invested in a variety of funds.


SPEC has put together a list of links and articles for individuals interested in a career in private equity and venture capital. Click on the link that most interests you. The Glossary of Private Equity and Venture Capital: http://vcexperts.com/vce/library/encyclopedia/glossary.asp Resources for Entrepreneurs and Investors: http://www.growco.com/ National Venture Capital Association: http://www.nvca.com/aboutnvca.html Venture Capital Firm Directory: http://www.nvca.com/members.html

http://www.vfinance.com/ventcap.htm Private Equity News: http://www.privateequityonline.com/ http://www.assetnews.com/downloads/pub/Web_Sample_PEA.pdf http://www.efinancialnews.com/index.cfm?page=private_equity http://www.privateequityweek.com/ Private Equity Firm Directory: http://www.privateequity.com http://www.private-equity.org.uk/ European Private Equity and Venture Capital Association: http://www.evca.com/html/home.asp Private Equity and Venture Capital Database: http://www.ventureeconomics.com/ Young Venture Capital Society http://www.yvcs.org/ Academic Focus Point for Entrepreneurship and VC Research http://w4.stern.nyu.edu/berkley/


1. 2. 3. 4. 5. 6. 7. 8. What is Private Equity? Who invests in Private Equity? Why do institutional investors invest in Private Equity? What would preclude individuals from investing in Private Equity? Why are the returns in Private Equity typically higher than those in the public markets? How are Private Equity fund managers compensated? How to position yourself for a career in Private Equity? What is the typical Private Equity Associate job description?

1. What is Private Equity? Private equity is the ownership stake that results from an investment in a private company or a public company that is taken private. It is called private equity because the shares held by the investor group are not available to the public, nor are they traded on any public stock exchanges. Private equity investments are typically made through partnerships or limited liability companies. These vehicles are illiquid and require a medium- to long-term time period to show a return. Committed capital is "called" as needed from investors over approximately 5 years and returns are typically distributed between the third and tenth years. There are a variety of investment strategies used by private equity funds. The chart below depicts the spectrum of investments available to private equity funds. Private equity funds can be invested in venture capital investment opportunities or in growth equity and leveraged-buyouts/management-buyouts (LBO/MBO) investment opportunities.


BACK TO QUESTION LIST 2. Who invests in Private Equity? Typical investors in private equity funds include institutional investors. An institutional investor will allocate 2% to 3% of their institutional portfolio for investment in alternative assets such as private equity or venture capital as part of their overall asset allocation. Currently, over 50% of investments in venture capital/private equity comes from institutional public and private pension funds, with the balance coming from endowments, foundations, insurance companies, banks, individuals and other entities who seek to diversify their portfolio with this investment class. BACK TO QUESTION LIST 3. Why do institutional investors invest in Private Equity? Institutional investors allocate portions of their assets to private equity because: Historically, private equity investments have long-term returns that, on average, have outperformed publicly traded securities. Private equity returns have a relatively low correlation to public equity or fixed income returns and can therefore act as a diversifier to other asset classes in a portfolio. BACK TO QUESTION LIST 4. What would preclude individuals from investing in Private Equity? Private equity investments are not for everyone. The nature of the investment requires careful consideration because an investment in private equity: Is illiquid (i.e., not readily convertible into cash).

Requires an extended capital commitment for up to 10 years. BACK TO QUESTION LIST

5. Why are the returns in Private Equity typically higher than those in the public markets? In the world of investing, rates of returns correlate well with rates of risk: the greater the risk, the greater the return; the lower the risk, the lower the return. Private equity investments are among the most risky investments. BACK TO QUESTION LIST 6. How are Private Equity fund managers compensated? The General Partners (GPs) have two sources of income: an annual management fee and a carried interest. The annual management fee is generally between 1.5% and 2.5% of total capital commitments to the fund, while the carried interest has been historically 20% of profits. However, the carried interests of top-performing venture capital firms can reach 25% to 30% of profits. In some cases, the GP will guarantee a minimum Internal Rate of Return (IRR) to the Limited Partners (LPs) before sharing in profits. This is referred to as a preferred return, which is a more common feature of buyout funds than it is of venture capital funds. BACK TO QUESTION LIST 7. How to position yourself for a career in Private Equity? Positioning yourself for a career in private equity can be a difficult task as only a select few are hired each year, given the limited number and relatively small size of the private equity firms. While there is no typical professional background, previous experience at a leading private equity group, investment bank, accounting or consulting firm, or specific industry expertise is often preferred. Deal execution experience is sometimes a requirement. The skills that are important for success in this field are demonstrated leadership, excellent analytical and problem solving skills, a high level of drive, energy and initiative, and outstanding communication and interpersonal skills. Significant industry experience such as Technology, Media, Healthcare, Industrials, Consumer Products, Financial Institutions, or Energy may play an important role in positioning yourself for a spot at an industry specific private equity firm. After graduate business school, a career in private equity usually begins as an Associate. To assist you in positioning yourself, SPEC has put together a preliminary checklist. Begin the Process Early: While you usually read about one or two dozen private equity firms in the news, in reality there are thousands of firms in the U.S., Europe, Asia and Latin America, and you must start early to narrow your focus. It takes time to build relationships with industry professionals, which is essential in getting the offer. Select a Stage: The first step is to determine your stage preference. Early-stage or venture capital firms place more emphasis on operating experience and less on financial modeling, while late-stage buyout or mezzanine firms tend to prefer individuals with a stronger financial and investment acumen. Do Your Due Diligence: Understanding each firm's investment strategy and becoming familiar with the portfolio companies before contacting the firm is crucial. Some private equity firms focus on small cap companies, others on middle-market companies, while some of the more well-known private equity firms usually tend to invest in large cap companies and are frequently on the spotlight. Focus on an Industry: Direct experience and/or knowledge in a specific sector can only play to your benefit when competing for a position. Some firms focus on certain sectors

and prefer to recruit individuals that are specialized or have specific industry expertise. Networking is an Essential Tool: The best way to get in front of private equity professionals is to be introduced by someone whom they know and respect. Draw upon your family, friends, classmates, former colleagues, NYU Stern faculty, and the NYU Stern alumni network for introductions. Private Equity and Venture Capital firms rarely take a chance on hiring an "unknown" candidate. Read Industry Publications to Follow Trends and News: Positions often become available when new firms are organized or when money is raised by existing firms. To learn more about private equity, read key publications such as the Daily Deal, Private Equity Online, Red Herring, Buyouts, Private Equity Analyst and eFinancialNews. If you are focusing on industry specific funds it is important to be in tune with the deal flow and current trends by reading industry publications. For example, for Technology: Wired, Technology Review, Scientific American or Popular Science; For Healthcare: Bioscience Technology or Bio IT World; For Energy: Oil and Gas Investor or Oil and Gas Financial Journal. Be Geographically Flexible: The Club maintains relationships with companies in the U.S., Europe, Asia and Latin America. Many private equity firms in the U.S. are located in major cities (i.e. New York, San Francisco, Boston, Washington DC, Atlanta, Dallas, Houston, etc.), typically near to the industries they focus on and/or to financing sources. In Europe, firms are located in London, as well as in major European cities such as Paris, Milan, Frankfurt, Madrid/Barcelona, etc. In Asia, firms are mainly in Hong Kong, Mumbai and Beijing, while in Latin America, they are usually located in Miami, Mexico City, Sao Paolo and Buenos Aires. Join SPEC and Take an Active Role: One of the best ways to meet private equity professionals is through our events, workshops, alumni mixers, Spring symposium, and guest speaker series panels organized by the Stern Private Equity Club. As an active member, you will have more exposure to network with several leading private equity professionals. BACK TO QUESTION LIST 8. What is the typical Private Equity Associate job description? Typical responsibilities of an associate will include assisting in the evaluation, financial structuring and execution of private equity investments and divestitures. This will involve financial and industry due diligence, screening business plans, building financial models, valuing businesses under different scenarios, drafting term sheets and committee memoranda, interacting and establishing rapport with third party due diligence partners and company management teams, identifying portfolio company add-on acquisitions, ongoing portfolio management, including monitoring company performance and drafting quarterly valuation and situation reports, among other tasks. ACADEMICS: NYU STERN COURSES The SPEC has put together an indicative list of courses for students interested in taking courses related to Private Equity and Venture Capital. Private Equity B40.3361 Entrepreneurial Finance B40.3165 Private Equity Finance B40.3169 Topics in Corporate Finance B40.3176 Topics in Investments B40.3145 Investment Banking and Private Equity - EMT B40.3198 Bankruptcy and Reorganization B40.2304 Restructuring Firms and Markets B65.2327 Managing Growing Companies

(3 credits) (1.5 credits) (1.5 credits) (1.5 credits) (1.5 credits) (1.5 credits) (3 credits) (3 credits)

B65.2353 B65.2351 B65.2160 B55.3320

Managing Change Managing High Performing Teams Advanced Topics in Negotiations Managing Investment Funds

(3 credits) (1.5 credits) (1.5 credits) (3 credits) (3 credits) (1.5 credits) (1.5 credits) (3 credits) (1.5 credits) (1.5 credits) (1.5 credits)

Venture Capital B40.3373 New Venture Financing B40.3173 Venture Capital Financing B40.3148 Social Venture Capital B65.3335 Foundations of Entrepreneurship B65.2128 Social Entrepreneurship B65.2130 Corporate Venturing B65.2160 Advanced Topics in Negotiations

Please refer to the "New York University Bulletin 2006-2007 - The Leonard N. Stern School of Business" for a detailed description of each course.

Stern Graduate Finance Club Resources


Interview Preparation Materials

Accounting Concepts Accounting Prep Training The Street Valuation Prep Lehman Introduction to Investment Banking Interview Questions Pool by Interviewpoint

Research and Hunt for Finance Jobs

Research Finance Jobs (use your netID and password to log in) Finance Jobs on HotJobs Finance Jobs on Monster

Bloomberg Training

Getting Started with Bloomberg

Distressed Investing

Professor Altman's Slides on Investing in Distressed Companies

Useful Links

Damodaran Online - Professor Damodaran's Corporate Finance Website RGE Monitor - Professor Roubini's Global Economics Website OCD - Login to access Wetfeet Guides and see where MBA2s spent their summer.

List of Smaller Banks

Smaller Banks

SWIB/GFA Financial Planning Event

Please contact Stephanie Lee (stephanie.lee@stern.nyu.edu) for the handouts.

SWIB/GFA Financial Planning Event Slides