Read on Twitter
If you only start preparing for an interview after landing one, you’re leaving an edge on the table.
At best, you’re on par with other candidates.
At worst, you’re behind.
Why pass on the opportunity to start the race early when it’s available to you?
At best, you’re on par with other candidates.
At worst, you’re behind.
Why pass on the opportunity to start the race early when it’s available to you?
I learned this lesson when I was trying to break into investment banking as a lowly accountant. Despite working at one of the “big 4” firms, I would later learn this is what bankers thought of accountants. To quote a line from my favorite movie, “you are lower than pond scum”.
I didn’t even know what banking was until my 4th year of college but a couple buddies of mine took part in a national stock pitch competition where we came 2nd.
Truth be told, we didn’t even think we’d qualify cause we didn’t start the project until day before it was due.
Truth be told, we didn’t even think we’d qualify cause we didn’t start the project until day before it was due.
We pulled a 24 hour shift starting at noon on Sunday at the house to get it done and submitted. It was a pitch about some gold/mining company IIRC. We were roommates and best friends at the time. Like me, they were also lowly pond scum.
But turns out we had a knack for this finance thing. Despite submitting what we viewed as a low quality product, we were invited to fly to Vancouver to participate in the final round presenting to a panel of judges made up of professionals from the investment banking industry.
Side note: By now you should know I’ll never pass up a chance for a good time.
The school paid for our flights cause it was good exposure for the program so we flew out a week early to hit the slopes in Whistler. One of the best trips I’ve ever had shredding powder with my boys.
The school paid for our flights cause it was good exposure for the program so we flew out a week early to hit the slopes in Whistler. One of the best trips I’ve ever had shredding powder with my boys.
We ended up finishing 2nd in the competition after advancing through the initial rounds into a final group of 3 and presented in front of the entire conference. I forgot to mention this competition was part of a much larger banking conference run by the University of BC.
Anyway, this is the start of when we all first got hooked into the finance world. I set my target then that I would “break into” investment banking.
But much like my other goals, I did not fully grasp how much work and luck it would take to get there.
But much like my other goals, I did not fully grasp how much work and luck it would take to get there.
My journey took 2 full years. Within that time, I finished my 5th year of school to complete my masters in Finance/accounting, we came 2nd (again) at another stock pitch competition. This time an international one which took us to NYC. At least we finished first in North America.
That was a project that took a team including my buddy and I months to do. We still believe we got robbed based on feedback we received but I digress.
Also during this journey, I finished my CPA by completing my time as a lowly pond scum in the accounting world.
Also during this journey, I finished my CPA by completing my time as a lowly pond scum in the accounting world.
Most importantly, this is the period where I learned the lesson from my original tweet. I know it took a while to get here but we made it.
I faced rejection many, many, many times. As I already alluded to, investment banks weren’t looking for bean counters to join their ranks.
I faced rejection many, many, many times. As I already alluded to, investment banks weren’t looking for bean counters to join their ranks.
The first hurdle I had to cross was landing an interview which comes from countless emails, calls & coffee meetings to build connections hoping they would call should an opening come up.
Most people don’t know but that initial coffee date is in essence an interview. I didn’t.
Most people don’t know but that initial coffee date is in essence an interview. I didn’t.
As you can expect, I didn’t have much success. I’d drive a couple hours a week from school to downtown FiDi just to grab a coffee with some VP or analyst from any bank that would talk to me. But it was a valuable learning exp for me. Eventually I did land a couple interviews.
But I was not successful getting the job. Frankly, the first rejections were well deserved. I was awful at interviewing then cause I had no idea what to expect. My school wasn’t a finance bro prep factory that molded you for the banking life. We were mostly nerdy accountants.
After many failed interviews, I was given some tips from my buddy who had successfully broken in.
He sent me interview prep guides, financial modeling courses. Over the next few months, I lived and breathed these things. Worked during the day, studied at night and on weekends.
He sent me interview prep guides, financial modeling courses. Over the next few months, I lived and breathed these things. Worked during the day, studied at night and on weekends.
At the time I was building a new financial model at least once a week for stocks I thought were interesting / thinking about investing in.
At nights he would come home after grinding at work and we would have mock interviews where he grilled me on technical questions.
At nights he would come home after grinding at work and we would have mock interviews where he grilled me on technical questions.
After much repetition, I finally built up the muscles required to be successful in a banking interview. But the key was I was doing all of this before getting another interview opportunity.
I was just trying to prepare myself so I didn’t fumble away another golden opportunity.
I was just trying to prepare myself so I didn’t fumble away another golden opportunity.
Finally, that opportunity came. Wouldn’t you know it, that same buddy who had been helping me all this way was moving on from banking to the much more lucrative pastures of private equity.
This meant a spot opened up on his team. He put in my name as his referral. Lucky me.
This meant a spot opened up on his team. He put in my name as his referral. Lucky me.
Again this goes back to luck factor. I benefited from riding his coattails, the hard work he laid out gave me the opportunity cause his team trusted his opinion.
They accepted his recommendation and gave me an opportunity to interview. The rest, was up to me.
They accepted his recommendation and gave me an opportunity to interview. The rest, was up to me.
This time was different than the other times I had failed before. I was prepared. I knew banking technicals and early financial modeling like the back of my own hand. I lived and breathed that shit for months. I was no longer struggling with “um” and “uh” during the interview.
I’m proud to say I crushed that interview. For the first time in my life, I beat out all the finance bros and high pedigree individuals I competed against coming from a no-name school. For the first time, I experienced some level of success in the finance industry.
I couldn’t have done it with a little luck and most importantly, I couldn’t have done any of it without my homie. Who took the time out of his own day to help this scrub and show me the path he created. Could never thank him enough.
I also couldn’t have done it without the prep.
I also couldn’t have done it without the prep.
A lot of people say luck is when preparation meets opportunity. There’s some truth to that. Although I do think opportunity is just luck in disguise.
You can’t control the second part but you can absolutely control the first. I still take the same approach to interviewing today.
You can’t control the second part but you can absolutely control the first. I still take the same approach to interviewing today.
Will you need to get lucky like I did? I’m sure you will but why not focus on the part you have control over.
Make sure you put in the work up front so that you’re prepared to take advantage of Lady Luck when she does appear on your doorstep.
Make sure you put in the work up front so that you’re prepared to take advantage of Lady Luck when she does appear on your doorstep.
If I’m being honest, a lot of my “success” in eventually reaching that goal is because that friend I talked about, a member of the 3 musketeers who made it to Vancouver.
He was always the most driven / motivated of our group. This is some of that “luck” I’m always talking about.
He was always the most driven / motivated of our group. This is some of that “luck” I’m always talking about.
If you stuck with the whole story, thanks for reading. I know it’s a long one. Hopefully sharing my experience can help someone out there. I didn’t come from the traditional path but like many others, I sure had a lot of help and luck along the way.
As always DMs are open.
As always DMs are open.
