I applied through university. The process took 1 week. I interviewed at AT&T (Los Angeles, CA) in Jan 2015
Interview
I applied to the position through on campus interviewing. The initial screening interview was with one senior associate and one junior associate for about 30 minutes. They asked typical behavioral questions in the beginning and then asked some light technicals. Afterwards they allowed me to ask questions. The technicals were fairly standard and weren't meant to be difficult.
Interview questions [1]
Question 1
What discount rate would you use for Free Cash Flow?
First round over the phone. Half personal/get-to-know-you, half technical. Asked standard finance questions similar to a banking interview. Final round was a super day at the office, consisting of 3-4 rounds of interviews.
Interview questions [1]
Question 1
How does $40 of depreciation impact the financial statements
Went through two phone interviews. These are technical in nature, so be prepared to answer typical banking-type technical questions about valuation, modeling, etc. Also the typical why AT&T, why corporate development, why Dallas. After you pass the phone interviews, you will see the team in person for a round robin half day interview where you would talk to around 5-6 professionals in the group. Still some technical thrown in there, but highly dependent on the person.
Interview questions [1]
Question 1
Walk me through different valuation methods, how to arrive to FCF from Net Income/EBITDA, what is an interesting deal AT&T has done recently