Rothschild 2nd round interview

Rothschild
#1

Hello,
I have a second round interview M&A department with Rothschild for a long term internship. I have not been told much about the interview itself except from the fact that I’ll be interviwed by industry team leaders and should expect technical questions". But "technical questions "could mean anything. Has anyone got at that stage with Rothschild, any clue?
Thank you…

#2

No idea I’m afraid - I had a meeting with Rothschild about IB careers some years back, it was pretty heavy going though, and it wasn’t even supposed to be an interview!

#3

Hi, I knooowwwww… They are though, that’s what make the company even more attractive. The first round was pretty tough… Cannot imagine what the 2nd is going to be like… Don’t really know how to orientate my preparation; that’s the only thing… thanks anyway…

#4

I had first round at rothschild but didn’t make it through - I wasn’t expecting it to be so tough!!..what was your interview like? I was given two companies with different market values and different profits, then asked which company was performing well, which one was ripe for investment, which one I would take over etc, etc…

#5

Hey CSD,

I think it highly likely they will ask about about northern rock and the global liquidity crisis. I have also heard applicants sitting this second stage interiew being asked about the comments made by archbishop rowan williams so make sure you read the papers every day, keep up to date with general news (as well as commercial/economic news). I suggest checking the FT daily, the Times and get on to the Economist website - they offer a weekly streamed video/podcast of what’s been happening that is very useful, and the best thing is you don’t have to actually read it as it is multi-media!

Good luck, and please let us know how everything goes for you…if you have any more q’s please do ask…

Ed

#6

…they’re probably asking about Northern Rock because Rothschild/McKinsey are advising them right now. I’ve heard that most of the questions are technical. Just make sure you know what Rothschild do - on their website they’ve pretty much listed all the large deals they are/have advised on. Also know Valuation Techniques well (DCF, Comparables).

As for archbishop rowan williams, I know he made comments regarding adoption of sharia law in the UK or something along those lines so maybe they’re testing your general knowledge (hopefully not your political views as that would be illegal, but I know they are a ‘more conservative’ bank, so you might want to taylor your answers…! They have had a couple former employees become conservative MPs…just something to think about if you are particularly left wing :wink:

#7

Unlucky - the interviews are super tough. The interview I had was probably less aggressive than yours, but it wasn’t really supposed to be an interview, just a chat.

What you got sounds like quite an interesting challenge though- sadly there are some people who will just know the answers!

#8

Hey Peeps, thank you so much for your replies.

  1. First round: yes, it was a little bit more technical than I expected it to be. Had company market value and profits on which to comment on… Also, a lot of questions about Rothschild and its difference with other investment banks. They clearly want their applicants to set them apart from the rest of the crowd: small, focusing on what it is best at, objective, no big underwriting fees as their competitors. A tricky one that left me speechless: Private equity or trade buyers, which one is most touched by credit crisis? I had to confess my ignorance which was actually quoted as positive on my feedback; “humble enough to admit she does not know rather than making up someirrelevant answer”. Few questions about myself, could not list all examples I had of teamwork and leadership I had learned by heart :slight_smile:

  2. Round 2: this is where the real thing starts: how do you calculate a WACC? Which steps do you take to compute a valuation? Which information sources would you use to do so? What is a P/E ratio, what message does it send to the market if a company’s P/E ratio is higher than industry average? why would investors be ready to pay more money for one company rather than another? The mining industry is doing better and its merger activity will not slowdown this year contrarily to other sectors, why do you think it is the case?
    I found it quite challenging but fortunately I am studying finance so I had a clue what they were talking about… I am even more respectful now for arts/history/unrelated to finance students who manage to get a job in investment banking. Had I not been studying Finance, I wouldnt have been able to answer any of the questions…

No mention of the ArchiBishop :slight_smile: but am so glad now that it is over, I am going to stop reading FT and watching news…

#9

Interesting CSD… did you get any little tests or anything too or just questions? Was this just a one hour discussion with a partner, or someone else?

Sounds like you handled the hole thing pretty well… please do let us know how things turn out - good luck, and I hope you get it! :slight_smile:

Ed

#10

has anyone had a first round summer internship interview and give me any tips on questions?

#11

Hi, I have an interview with them this week. Any suggestions on what may come up? Would it be competency based or technical or both? I am not looking forward to this!

#12

hi im not sure really is it for the summer internship? it is my 1st ever interview so am preparing for everything i guess

#13

yup summer internship… ah yeah thats probably the safest bet. I have exams atm so finding it hard to do both. Haven’t had much luck with ibd. Only had interviews with Ops division so far. when is yours?

#14

Has anyone had an interview for their Long Term internships yet?

#15

Yes I had. I once had problems with some money savings and I’ve made several easy saver complaints helped by some experts in money saving, to the bank where I used to put my money at, and they took me an interview for The Long Term internship. Don’t ask me why, but it turned out to be useful.

#16

Hi

I have been called for an interview for the Rothschild LT internship for the IB division.

Was the interview very technical or more competency based ? Was there a lot of commercial awareness ?

Thanks

#17

Hey Christabelle,

When is / or when was your interview? Do you know if that was the only day of interviews they were doing? How did it go and have they let you know yet?

Thanks and hope it went/goes well!