The Australian corporate finance markets are competitive and increasingly selective. While deal flow has shown encouraging signs of recovery, hiring has not rebounded in equal measure. Many firms are still operating with leaner teams, tighter approval processes, and a sharper focus on quality over quantity. In such an environment, this means fewer seats, longer processes, and heightened expectations at every stage. With multi-stage processes, small margins can determine outcomes. Preparation is no longer a differentiator; it is a prerequisite.
From my conversations with junior candidates across the market, preparation is often overlooked or treated as secondary, with the belief that they will figure things out along the way. In contrast, candidates who invest the time to prepare are consistently the ones who succeed.
Drawing on our experience advising both candidates and clients, clear patterns emerge. The strongest junior candidates are not always the best on paper. They are the most deliberate in their preparation, the most self-aware in how they present their experience, and the most thoughtful in how they articulate their ambitions. Conversely, recurring mistakes continue to derail otherwise capable individuals. With that in mind, here are practical observations on how juniors can best prepare and where many go wrong.
Have a Personal Story
Everyone loves a good story. Interviewers are not just assessing technical skills; they want to understand who you are and why you do what you do. Having a personal story helps you stand out and makes your motivations tangible. This does not have to be dramatic. It could be why you chose finance, what drew you to a particular sector, or a defining moment on a deal that shaped how you approach to work. A clear personal story demonstrates self-awareness, motivation, and passion. It shows you are not just moving through transactions, but building a career with intention, and that combination resonates strongly with potential employers.
Know your CV inside out
Be ready to speak clearly about the transactions you have worked on and, critically, your specific role within them. What did you actually do? Build the model, run sensitivities, draft materials, coordinate diligence? Interviewers are assessing your contribution, not just the headline deal. Best candidates go a step further. They understand the story behind the transaction. What were the key value drivers, risks and strategic rationale? Being able to articulate both your impact and the commercial context is what separates those who were simply involved from those who truly understand the deal.
Nail the motivation question
Why this firm? Why now? Why this sector? Tailor your answer with specific examples, highlighting the firm’s strategy, recent deals, or approach to the market. Demonstrating genuine curiosity about how they operate in the market shows that you have done your research and that you understand what you want and why you want it. From our conversations with clients, nothing signals a faster no for a candidate than not knowing what they want or what makes their specific firm or team unique. It also raises the question of whether this candidate would do the necessary preparation to succeed as part of the team.
Don’t underestimate soft skills
Technical ability gets you in the door, but communication, enthusiasm, and the ability to connect with your interviewers carry you through. It is easier said than done but creating a natural flow of conversation throughout the interview makes a strong impression. Researching the background of the people you will meet and asking thoughtful questions is often an effective way to build rapport and demonstrate genuine interest.
Stay current and informed
In interviews, being able to discuss recent deals, transaction structures, or sector-specific trends demonstrates both diligence and commercial awareness. Candidates who can reference specific transactions, explain the strategic rationale, or analyse valuation and financing considerations show they understand how deals get done. Even small efforts, such as reviewing deal announcements, tracking comparable transactions, or discussing live deals, can make a strong impression.
Prep your technicals hard
Perhaps the most common concern among junior candidates is what technical questions or exercises they will face during an interview process. This is not something to start preparing for once a process begins. Preparation should start months in advance. Whether it is an in person technical interview or a case study based on a real or hypothetical transaction, putting the legwork ahead of time is essential. Preparing for the toughest scenarios is the best preparation you can do. We understand everyone is busy, but if you are not preparing in the background, someone else will be. Use online resources, past deal materials, or mock exercises to practice building models and presenting your findings. Investing this time will give you confidence and allow you to demonstrate both technical skills and commercial awareness under pressure.
Leverage trusted advisors
Recruiters can provide invaluable insights at every stage of the process, from interview formats to the types of questions you may be asked. They can also give constructive feedback to help you improve your approach for the next interview. Do not leave yourself in the dark. Drawing on our knowledge can give you a real advantage in securing the role you want.
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