Resume drop, interview. Generic rejection email. Fairly standard for a finance interview, problems not too challenging. Study probability and financial terms, general breaking into wall street books, maybe some of the more quantitative ones as well.
I applied through a staffing agency. The process took 3 weeks. I interviewed at Landmark Partners (New York, NY) in Feb 2021
Interview
Initial phone screen was behaviorial questions about prior experience which lasted 30 minutes.
Was invited back for a case study which was comprised of a 2 hour abbreviated secondary modeling exercise.
The individuals I met were not very pleasant and sought more to catch you off guard. Furthermore no follow-up was provided positive or negative (i.e., ghosted) despite significant time invested in the interviews and case study, which I found to be highly unprofessional.
Interview questions [1]
Question 1
Secondary case study: This included a sponsor-led type transaction including income statement and simple debt schedule for a single company and fund waterfall (including unfunded). Then one incremental step was a structured alternative to the standard waterfall, in which some unfunded was waived and guaranteed proceeds went to the buyer.
In addition to the modeling exercise there was a write up of the process and a 30 minute presentation of the analysis to members of the team.
I applied online. I interviewed at Landmark Partners
Interview
Interview with analyst regarding the role and gaining a general understanding of interest in secondaries. Few technical questions to assess real interest in the space and the ability to demonstrate some foundational knowledge. Conversation was generally laid back and meant to be informational.