美林(Merrill Lynch)英文面试全过程

 

Merrill phone interview 1:

1. Self introduction

2. What’s your exp. in Bain?

3. What's important about the 3 statements?

4.difference between 流动比率 速动比率

5. Why some with high gross margin, but low net margin?(interest, expense)

6. Tell me about the subprime. What's the essential trigger?

Merrill phone interview 2:

Final:

3 rounds, each for 30 mins, averagely. 

(1) 

Go through your resume, why Merrill, why banking.

How to value a stock?

If given two companies, with the same EV/EBITDA, substantially different P/E,

 why?

If two company, same PE,PB,PS,industry… just like twins, everything the same

. A is about the deliver 100 mill dividend, one not. You are going to buy the

 stock right after the dividend day, which would you buy?

How to calculate EV? Net Debt? EBITDA? Net Income? EPS? 

Give you a scenario that RBS is to buy ABN, assume you know nothing about the

 fundamental of the deal, tell me all possible ways of the acquisition. (I sa

id Cash/Stock/Stock option, and the mixture of them)

If all cash, where the money from?( Secondary Equity Offering I said)

What about summing the cash by debt?( Then I said do it like LBO do, issue HY

 bonds, pay interest and deleverage it to make profit…) Later I know that on

e s from the PE group…orz.. He said it’s not possible for banking acquisiti

on COZ there are restriction on the D/E ratio for banks, so basically they ca

n’t suffer from such a highly leveraged capital structure…)

What’s the angle between the two hands when 3:15?

(2) 

Just all the plain resume Qs.

(3)  

Resumes again

What do you think of the market? The subprime?

Which industry group do you focus on… actually no specifically, so I randoml

y pick Power…

Tell me everything about the Crude oil industry…( keep talking randomly, lik

e how weak is Petrochina comparing to Exxonmobil…)