Bank on Banking

Generally speaking, the questions at the end of a session aren’t going to make your candidacy nor are they going to break it. The weight of the closing questions varies, but it usually doesn’t count for more than a tip one way or the other. That said, every little bit helps and you certainly don’t want to run off at the mouth, cut the interviewer off mid-answer or ask multiple compound questions running the risk of either confusing the interviewer or just annoying him/her. Just like first impressions, last impressions count, so you want to be respectful and ask pointed and interesting questions to, for lack of a better phrase, end on a high note. To help readers leave a good closing impression, I’ve put together a short list of pitfalls to avoid and helpful tips to follow the next time you find yourself at the tail end of an otherwise successful job interview.

Number to Ask

Many people have asked me at what point should I stop asking questions and how many questions crosses the line between interested candidate and blindly annoying rambler. Unfortunately there is no magic number of questions you should automatically ask and no sudden bell that goes off when you’re at the interviewer’s recommended limit. That said, there are some general guidelines to follow when it comes to how many questions to ask. Generally speaking, 2-3 (I try to stick closer to 2 unless one of the interviewer’s answers was really short and left an opening for a follow-up question or such) solid questions are enough to leave a pleasant closing impression and appear genuinely interested without annoying the interviewer.

There are of course exceptions to this rule such as casual conversation. If the dialogue between the interviewer and you has become a bit more casual/comfortable, then you can allow it to play out for a few minutes. In this case, however, it is no longer the number of questions, but rather the time that should guide your moves. As the dialogue appears to wind down and you’ve covered a few topics in the closing questions, if the interviewer asks for if you have any other questions or leaves an opening, use that opportunity to close the interview for yourself to avoid the risk of taking your interviewer’s courtesy and turning it into his/her mistake.

Another exception to the rule runs closer to the extremes in terms of available time. If you are in the middle of a superday interview, for example, and there are other applicants in the middle of the process, you need to be aware of the time constraints on the interviews. In other words, if the interview comes to an end with just a few minutes before the time expires, do not try to squeeze 2 or 3 questions in – instead, ask 1 solid question and then excuse yourself and thank them for their time citing the time and the other interviewees – being aware of your situation and courteous of the interviewer’s time and process will definitely help you more than squeezing in 1 more rushed question. On the other side of the coin, if there is a lot of time left over, rather than speeding out of the interview, you can use this time to ask an extra question – ideally something that can stir up some sort of conversation and create more of a casual atmosphere – perhaps something hobby-related, or group activity related – this is not an opportunity to leave the interview and rest, but rather an opportunity to show your fit with team.

Topics to Cover and Not Cover

Just as you should not as 30 questions of your interviewer, you should also keep in mind that this is still an interview, and, as such, there are certain topics that you can and should cover and certain topics that you generally should try to avoid (unless of course, the interviewer brings them up in conversation).

When asking your interviewer questions, some of the best questions come from topics including his/her background – such as how and why he/she got into banking, how he/she chose that particular industry or product, etc. Besides background, ask questions on his/her team such as team dynamic, group activities, etc and the popular “what-if” questions meaning those questions that put the interviewer in a particular scenario or ask him/her to recount on events of his/her past and if he/she would do anything differently. For example, you can ask the interviewer what the one thing that he/she wishes he/she knew before getting into the business and whether that point would have changed his/her mind on entering the business. Beyond those questions, you can also ask about his/her most enjoyable moments/deals were in banking, what the most important qualities are for analysts, what mistakes he/she has seen analysts make, etc.

Of course for all of the interview topics that are acceptable and recommended, there is also a list of topics/ideas that it is generally better to stay away from. The most popular questions that I have heard from topics that you should try to avoid involve making the closing questions sound like a news reporter from CNBC interviewing him/her by grilling the interviewer on specifics on deals and market analysis (where do you see the market going in the next year or so, for example). Additionally, stay away from topics that can easily be found through a simple google search such as bank specifics, general questions on investment banking, etc (and of course questions on religion and politics – this should be assumed, but I figure it is better to mention it than leave it out and have someone walk down that path). Stay away from league table questions and street reputation questioning as this can both be found online and can be a bit offensive. Finally, stay away from exit opps questions such as “what P/E firms have you sent your analysts to” before actually landing the job and checking out the sellday – some of you might be laughing at this, but trust me, I have heard it before.

Pitfalls

I’ve went through a few things that you should be doing and covered a bit of material on what you should not be doing, but there are also some common pitfalls to avoid that relate to the past points and enter some new territory as well. First and foremost, avoid asking too many questions – yes, I mentioned it in a roundabout way before, but it needs to be mentioned again as it is the most common pitfall that I encounter. Remember, some interviewers will end the interview for you, while others will keep asking if you have any other questions even after time has expired – it is up to you to know the situation and be prepared to bring the interview to a close. Along the same lines as the previous point, try not to ask multiple part questions. In other words, it is one thing to ask a 2-part question, but I have heard candidates ask 3,4, or even 5-part questions that run about a paragraph long. Frankly, by the time you get to the end of the question I can barely remember where you started. Keep the questions interesting, but also simple. Don’t assume that asking two questions means you ask 1 question and then a giant 4-part question requiring a 20-minute response – the closing questions should leave a relaxed and enjoyable impression, not a tense and stressed feeling.

Beyond that, do not ignore the answers the interviewer provides to your questions and avoid spacing out during his/her responses. I have heard candidates ask a good question, then after a few moments the interviewer answers the question only to have the candidate ask a follow-up that the interviewer literally just answered in his/her previous response. I’ve also seen candidates space out, lose eye contact, yawn, fumble around with keys, etc, during an interview – this is just silly and something that you should have no problem avoiding.

The last pitfall that you need to avoid is subtle, but definitely real – cutting the interviewer off mid-response. I have had candidates ask me a question and then halfway through my response they (I assume) think of a follow-up question and just cut me off to ask it. Sometimes they apologize for cutting me off and sometimes they don’t – either way, don’t do it. If you think of a follow-up question just store it in your head for a few seconds and then when the interviewer has finished his/her response, ask it (this does not, however, mean that you should tune out the rest of the interviewer’s response when you’ve thought of the follow-up question – stay in the conversation!). Cutting off an interviewer is rude, creates a bit of that interrogation-room feel and is, simply put, not the impression that you want to leave just before closing the interview.

Knowing When to Close

This is a short point, but an important one – know when to close the interview. Whether it is because you have asked 2-3 questions, the interviewer is clearly becoming ready to end (by gauging his/her body language, he/she is checking the clock, he/she is closing answers quickly), or even just because you’re out of good questions (I know it sounds funny, but some people will try to force questions when they don’t have anything left to say to avoid ending the interview). In any case, you need to be prepared to end the interview. Simply decline to ask any further questions, thank the interviewer for his/her time, ask for a card or email address if he/she hasn’t already given you one, shake ends, and make your way out. Don’t be afraid to end the interview – it will hurt you more to ramble on and on or show a complete disregard for the interviewer’s time than to simply end the interview on a high note – a bit of showmanship (thank you George Costanza for those Seinfeld fans – ending on a high note).

Don’t Forget the Follow-Up Email

The last point that I will leave you with is regarding the follow-up email. I’m not going to give you guidelines or a sample follow-up/thank you email (maybe another time), but rather just remind you that you do indeed have a thank you email to utilize – so utilize it. In other words, use the thank you email to not just thank the interviewer and continue to express your interest in the opportunity, but also to ask another quick question if you have one and happened to run out of time during your interview or just to keep a dialogue between the 2 of you going. Remember, you’ve always got the follow-up thank you email to toss out another question – don’t hesitate to use it if for no other reason than to avoid running on during the interview.

That about covers it – stay tuned for more articles coming soon! As always, comment go below, and emails can be sent HERE.