3 HireVue Behaviorals Every Investment Bank Uses

March 02, 2025

The Non-Target Playbook 

By Jack Kolb

To break into banking as a non-target, you have to view yourself as the “personality hire”.

My meticulously scripted behaviorals are what made up for the weak brand name on my resume.

Every banking interview is guaranteed to start out with these three questions.

The director of our academy had us rehearse these three over a hundred times each.

With that insane number of reps, you can perfect it to the point that it comes across as natural.

Here was my approach to crafting each of these three.

The number one key is to use storytelling to make your answers memorable.

QUESTION 1 - WHY INVESTMENT BANKING?

It takes a special kind of person to work the 80+ hour work weeks of banking.

Most kids answer this too generic and spew a laundry list of reasons without using specific examples from their personal experiences.

I organized my answer into three buckets and tucked a personal story under each.

BUCKET 1 - FAST PACE

In college, I was captain of the Men’s Division 1 Ice Hockey team.

Hockey’s known to be the fastest sport in the world due to the nonstop play and quick tempo.

Even fans have a hard time keeping up.

I first explained how I fell in love with the game, saying something like

"...From the second I stepped on the ice at four years old, I was hooked on the adrenaline and got addicted to that high speed of the game. My mom always told me I preferred hockey because I’d get so bored during other sports like the slow tee-ball games she’d sign me up for...”

I’d then explain how I knew banking had the same type of exciting atmosphere, making it a perfect fit.

I listed these specific examples to show I did my homework and actually understand what analysts do.

  • Juggle responsibilities staffed across many deals at once

  • Consistently meeting tight deadlines

  • Compete against other banks to win mandates

  • Work in teams with each individual having unique responsibility

BUCKET 2 - PASSION FOR UNDERSTANDING BUSINESS MODELS

Watching my dad start his own business helped me realize what I wanted to do for a living.

He’s a doctor and opened up his own private practice.

Most people thought I wanted to follow in his footsteps and become a doctor.

However, I was more fascinated by the “business-side” behind the scenes that allowed his practice to run smoothly.

I painted bankers a picture of the specific pieces of my dad’s business model that intrigued me most including

  • MRI & XRAY Machine Revenue

  • Physical Therapy Segment

  • Product Revenue from Boots / Casts / Braces / Splints

And explained how I found it so interesting how all those behind-the-scenes functions worked together to provide a seamless experience for his patients.

Then I’d relate that interest in understanding business models back to banking in two sentences, saying

  • 1) I’ve learned banking is about understanding different types of business models so you can effectively communicate a business’s value to potential investors

  • 2) So with my natural curiosity for understanding business models - I know I’d never be bored getting the chance to dig into so many different types of businesses similar to my dad’s every single day…which would make the long hours fly by

BUCKET 3 - UNMATCHED EXPOSURE & RESPONSIBILITY

The “apprenticeship” of banking is unlike any other entry level career.

I related that selling point to my experience on the hockey team freshman year.

I explained how I wouldn’t have been half the player I was if it wasn’t for the upperclassmen taking me under their wing so early on.

I’d then emphasize how I knew banking offered that same level of exposure and guidance from senior bankers, which I was eager to take advantage of to develop as quickly as possible in the early years of my career.

QUESTION 2 - WHY [BANK]?

This question is your chance to flex that you did more networking than everyone else.

Name dropping is encouraged.

My approach was to collect ammo for this answer during networking calls by asking every banker

“So…what was it that stuck out to you most and made you choose [Bank] over your other options? And is there a specific story or event that you think is a good example of that? Such as maybe something you learned or experienced during recruiting or maybe even on the desk as intern or full time now?”

It’s a long-winded question, but the responses you’ll get are incredible.

Here’s an example of a response from a Lincoln associate and how I used it in my interview answer.

  • Response - He did his analyst years at another bank. Trying to lateral. Had a few offers couldn’t decide between. CEO of Lincoln called on random Saturday afternoon and spent over two hours on the phone with him, offering advice on all options. Said he was surprised by how much CEO built up the other banks and explained why others could be better options depending on what he wanted long-term - not trying to sway him one way or another

  • Why Resonated With Me - I grew up in a small town with a high school graduating class of 150. By the end of my four years, I knew every kid in that building by their first and last name and appreciated how everyone in the tight-knit community helped support each other

  • Tying Together For My Interview Answer - Due to small town values, I’ve chosen to prioritize finding same supportive culture in the firm I spend my career at. Have learned through conversation with that associate that Lincoln clearly embodies that environment I’m looking for - as even the CEO takes time out of his busy schedule to do something like that

QUESTION 3 - WEAKNESSES & STRENGTHS

BIGGEST STRENGTH

When picking your strengths, make sure to choose ones that show you’d be a good analyst.

The three I had in my back pocket were attention to detail, communication skills and persistence.

I used the STAR approach and tucked personal stories under each strength.

Here’s an example of a story I used to support the communication strength.

  • Situation - Second semester freshman year had a million commitments. Forward on hockey team, senior consultant in student consulting org, director of new members in business fraternity, member of intro to m&a org

  • Task - Needed to figure out how to balance commitments while maintaining grades and adapting to living on my own. Knew I was going to face conflicts daily such as having to reschedule exams and consulting meetings due to out of town hockey games

  • Action - Developed a system to stay organized. Utilized tools like google calendar and physical planner to outline week every Sunday night. Got ahead of conflicts before they happened and over-communicated with impacted parties (i.e. teachers, co-leaders, coaches)

  • Result - Ended semester with 4.0 and successful results in all extracurriculars. Built superior time management / efficiency skills that’ve created success in other areas of life

    • KICKER - EXPLICITLY SAY I know these traits I’ve developed would make me an outstanding analyst. I’ve learned analysts are staffed across multiple teams / deals at once, all with competing deadlines. Keeping each team in the loop with workload and regularly updating on progress is crucial to success

That STAR approach should be used for all behaviorals.

This Northwestern article will give you an idea of how much time to spend on each part.

BIGGEST WEAKNESS

On one hand, you don’t want to tear yourself down with a weakness that’s too real.

But on the other hand, having a phony weakness or being too cliché is also a bad look.

You have to pick a reasonable weakness…

Just make sure to spend an overwhelming majority of your answer on the “comeback” piece.

This “comeback” is what twists that weakness into a strength.

The weakness I used was “Dwelling on Mistakes”. Here’s how I structured my answer.

  • Context - As part of our investment banking academy, have weekly technical quizzes. I spent too much time beating myself up for every little missed question

  • Realized Needed Change - Understood beating myself up was holding me back and a waste of energy. Everyone makes mistakes and that’s how you learn so you can’t be afraid to make them. The important thing is you don’t make them twice

  • My Approach - Came up with “mistake log” system in my notebook. Would write down and reflect on each missed question after every quiz. Night before the next quiz, quickly reviewed all prior mistakes to ensure didn’t make them twice

  • Why Relevant to Banking - Know attention to detail is everything in banking and even smallest mistakes can’t afford to be made. Continuing with my current system, I know I’d climb the learning curve quickly - making mistakes but never twice

Cheers 🥂

- Jack