Overcome Your Interview Objections and Fears
Feeling overwhelmed, rejected, or just fatigued? Don’t worry, we have all been there. In the past, I talked about overcoming objections during a cold call, now I want to discuss a few phycological objections candidates may feel as they go through recruitment.
Most fears are caused by false projections or misleading metal projections. I suggest identifying what the issue is and taking steps to move past it as soon as possible. Here are a few possible situations you may run into:
Objections #1: Even if I meet someone, how do I know that he’ll actually see my resume and select me for an interview?
You don’t know if they will be helpful or not. Talking to your contact will help you practice your communication skills and learn something about the field no matter how the situation turns out. The solution to this issue is meeting as many bankers as possible, this way at least one of them will deliver.
Objection #2: Won’t bankers I approach think I’m using them?
Yes, bankers will think you are calling them to win offer, and there is nothing wrong with that. If you don’t reach out, someone else will take your offer. Build a relationship with the banker and this will make the situation easier. Also be sure to thank them and express your gratitude as they help you out.
Objection #3: Isn’t there a chance the banker will reject me?
Of course there is. There is also a chance they will help you get a job. Don’t be afraid of rejection, learn from it, improve, and carry on.
Objection #4: If I contact everyone now, won’t end up using up all the contacts before I’m ready?
Contacting bankers will help provide you with more information about the job. At the end of the call ask for referrals. This means as you contact people on your list, your network will expand. Additionally, the great thing about being situated in the US is there are plenty of investment banks and private equity shops. So many that it is almost impossible to run out bankers to call without landing an offer.
Objection #5: Does networking and preparation work for everyone?
International, non-target, non-finace, and students with little or no experience can break into iBanking. That said, some people have to work much harder than others. Having realistic expectations depending on your situation is critical. As you talk to bankers, you’ll be able to judge your chances and motivation to break into the industry.
Objection #6: Are bankers are scary?
Bankers are human. Get over your fear by meeting them through career fairs and information sessions. If you still think they are too intimidating, rethink your career choice; there are plenty of other business jobs.
Objection #7: I’ve heard breaking in is easy (i.e., will take a couple of weeks) so I don’t need to start now.
Unless you’re a Harvard undergrad with a 4.0 GPA and exceptional communication skills and connections, it is difficult to break into banking. If you want to be come a banker, start working towards it right now. Procrastination will most likely limit your future job prospects.
Objection #8: The competition is too difficult this year. Should I take more time to prepare?
Not feeling 100% confident in your preparation is a good thing. Your marginal improvement will approach zero after about a dozen mock interviews. Signup for evens and interviews even if you’re not prepared, this will act as a deadline and help motivate your development. You are definitely overestimating the competition. The vast majority of candidates haven’t spend hours preparing for interviews and networking.
Objection #9: Economic conditions are terrible. Should I wait another year?
There is always a demand for investment banking analysts. Since they are the cheapest and hardest working bankers in the office, they are usually the last to be laid off. That said, analyst class sizes may shrink. Don’t let that deter you from your goals. Networking is more important during slow economic times. If that doesn’t work, consider interning for free; hopefully next year demand for analysts will rise again.
Objection #10: I just got rejected. Do I have anymore options, should I continue?
As Chris Gardner famously said, “Don’t ever let someone tell you, you can’t do something. Not even me. You got a dream, you got to protect it. People can’t do something themselves, they want to tell you you can’t do it. You want something, go get it.” Failing often and frequently is the best way to learn and eventually win an offer. Don’t fear rejection, embrace it.
In the end, everything will work out. Don’t allow yourself to be dramatic over the long run. Start working hard again as soon as possible. That said, check out the next section for a little short term motivation.
Inspirational Videos and Quotes
“If you do not know how to ask the right question, you discover nothing.” William Edwards Deming
“If you don’t go after what you want, you’ll never have it. If you don’t ask, the answer is always no. If you don’t step forward, you’re always in the same place.” Nora Roberts
“Only those who will risk going too far can possibly find out how far one can go.” Thomas Stearns Eliot
“People often say that motivation doesn’t last. Well, neither does bathing - that’s why we recommend it daily.” Zig Ziglar
“Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover.” Mark Twain
“It’s fine to celebrate success but it is more important to heed the lessons of failure.” Bill Gates
“100% of the shots you don’t take, don’t go in.” Wayne Gretzky
“You can’t overestimate the need to plan and prepare. In most of the mistakes I’ve made, there has been this common theme of inadequate planning beforehand. You really can’t over-prepare in business!” Chris Corrigan
“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.” Charles Darwin
“Business opportunities are like buses, there’s always another one coming.” Richard Branson
“Whatever the mind of man can conceive and believe, it can achieve. Thoughts are things! And powerful things at that, when mixed with definiteness of purpose, and burning desire, can be translated into riches.” Napoleon Hill
“For all of its faults, it gives most hardworking people a chance to improve themselves economically, even as the deck is stacked in favor of the privileged few. Here are the choices most of us face in such a system: Get bitter or get busy.“ Bill O’ Reilly
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