Getting hired at Apollo Global Management is highly competitive. The firm receives thousands of applicants each year for a limited number of openings. Standing out requires meticulous preparation and insight into the Apollo interview process.
In this comprehensive guide. we’ll cover everything you need to know to land an interview and job offer. including
- Apollo Global Management Company Overview
- Apollo Interview Process
- Most Common Apollo Interview Questions
- Technical & Fit Interview Tips
- Apollo Offer Expectations
Apollo Global Management Company Overview
Founded in 1990, Apollo Global Management is a leading global alternative investment manager with offices across North America, Europe, and Asia. The firm had over $414 billion assets under management (AUM) as of March 31, 2021.
Apollo operates integrated businesses across credit, private equity, and real assets The firm invests across the capital structure of leveraged companies through its credit business and makes private equity investments focused on value-oriented buyouts and buildups Apollo’s real assets investments include equity interests in infrastructure, natural resources, and real estate.
Some key facts about Apollo Global Management
- Headquartered in New York, NY with over 1,500 employees globally
- Manages investment funds on behalf of pensions, endowments, foundations, financial institutions, and individual investors
- Has completed over $500 billion of private equity, credit, and real estate transactions since inception
- Notable investments include Chuck E. Cheese’s, Caesar’s Entertainment, ADT, and Rackspace
Apollo has a reputation for being a demanding but rewarding place to work with significant opportunities for career advancement. The firm maintains a meritocratic, entrepreneurial culture that attracts top talent.
Apollo Interview Process
The Apollo interview process typically consists of 3-5 rounds spanning 1-3 months from initial application to final offer.
Here’s an overview of what to expect at each stage:
1. Initial Phone/Video Screen
- 30 minutes
- With HR or junior team member
- Questions about your resume, interests, Apollo knowledge
2. 1st Round Interviews
- 60-90 minutes
- Typically 2-4 back-to-back interviews
- Mix of fit and technical questions
3. Modeling Test
- 2-3 hour modeling test on LBO or leveraged credit deal
4. Superday
- In-person final round at Apollo office
- 4-6 additional back-to-back interviews
- Deeper technical and fit discussions
- May include dinner/social event
5. Offer
- Verbal offer within 1 week if selected
- Written offer and background check follows
- 4-8 weeks from verbal to start date
Apollo interviews are known to be quite difficult. The firm looks for candidates with sharp finance skills, intellectual horsepower, and cultural fit. Thorough preparation is essential.
Most Common Apollo Interview Questions
Let’s review some of the most frequently asked Apollo interview questions and high quality answers:
Fit Questions
Why Apollo?
- Mention strong alternatives credit platform, flexible capital approach, focus on distressed/special situations investing
- Apollo’s meritocratic culture and emphasis on individual accountability appeals to you
- Opportunity to work on complex, large transactions across industries, geographies, and asset classes
Why investment management/PE/credit?
- Always been interested in markets and investing from an early age (tell a short anecdote)
- Enjoy the analytical and strategic nature of identifying value and making prudent capital allocation decisions
- Want to help companies operationally while also managing portfolio risks through cycles
Tell me about yourself
- 1-2 minute elevator pitch highlighting your background, interests, and why Apollo is a great fit
- Emphasize aspects of your candidacy that align with Apollo’s focus areas
Why should we hire you?
- Bridge your past experiences and accomplishments to the role’s requirements
- Highlight transferable skills from your career thus far
- Explain why you’re passionate about alternative investing and would thrive at Apollo specifically
Technical Questions
Walk me through a DCF, LBO model, or credit analysis
- Structure your answer logically, explain approach and key assumptions
- Discuss sensitivities, risks, debt paydown, exit multiple
- Show solid grasp of technical skills in interactive discussion
How would you improve the operations of a distressed retailer?
- Look for cost cuts in SG&A, supply chain, marketing, stores
- Renegotiate leases, optimize store footprint, bolster e-commerce
- Review pricing, inventory, merchandising strategy
- Consider brand positioning and M&A options
What’s your investment thesis for “X” industry?
- Detail key value drivers, secular trends, and market nuances
- Leverage your research and knowledge on the space
- Provide perspective on competitive dynamics and economic sensitivities
How do you value a software company?
- Discuss SaaS metrics like ARR, Net Retention, CAC, LTV ratios
- Build DCF and comps-based valuation models
- Apply trading and transaction comps from public and private markets
- Assess size of TAM, barriers to entry, network effects
Technical & Fit Interview Tips
Beyond preparing solid answers to expected questions, here are some helpful interview tips:
Demonstrate passion for investing
- Discuss markets, asset classes, deals you find interesting
- Share investment books/podcasts/blogs you follow
Ask thoughtful questions
- Inquire about the group’s investment approach, challenges, recent deals
- Get the interviewer’s perspective on markets, Apollo, their career path
Solve problems interactively
- Think through issues methodically
- Respond well to nudges in the right direction
- Show your analytical toolkit, don’t get flustered
Fit cultural cues
- Stress your collaboration skills, accountability, work ethic
- Emphasize desire to constantly improve, take on more responsibility
Explain your resume
- Be able to summarize key takeaways, learnings from each experience
- Tie back to how it relates to investing and Apollo
Apollo Offer Expectations
If you impress your Apollo interviewers and receive an offer, what can you expect regarding compensation and perks?
Base Salary
Base salaries at Apollo typically follow standard private equity and finance market ranges:
- Analyst: $85K – $95K
- Associate: $150K – $175K
- VP: $200K – $250K
- Principal: $300K+
There is upside for top performers. Apollo is willing to pay for talent.
Bonus
Bonuses can reach 200%+ of base salaries in good years. Payouts are discretionary based on fund performance, group results, and individual contributions.
Carry distributions can be very significant for investment team members at VP level and above. Upside at Apollo is high compared to most financial firms.
Perks
Expect standard PE/finance perks:
- Health insurance, 401K match, transit benefits
- 3-4 weeks vacation
- Gym reimbursement
- Phone stipend
- Free meals, snacks, and dinner on late nights
The Apollo offer will be very competitive if you’re selected. Be prepared to make a decision within 1-2 weeks of getting your verbal offer.
Key Takeaways
Succeeding in Apollo interviews requires rigorous preparation. While the questions will vary, expect in-depth discussions of technical finance, your resume credentials, investing philosophy, and firm fit.
Apollo’s meritocratic culture means the competition is stiff. Showcase your intelligence, polish, and desire to thrive in the firm’s intense environment. With the right approach, you can land a job at this prestigious alternatives investing leader.
Apollo Global ManagementPrivate Equity
Based on the Interview Insights at this company, the Interview Experience is a score between 1 star (very bad) and 5 stars (very good).
The number in the middle of the doughnut pie chart is the mean of all these scores. If you move your mouse over the different parts of the doughnut, you’ll see exactly how each score was calculated.
The title percentile score is based on an adjusted score based on Bayesian Estimates that is applied to the whole Company Database. This is done to account for companies that don’t have many interview insights. The confidence in a “true score” rises as more reviews are given about a business. This causes the score to move closer to its simple average and away from the average of the whole dataset. 3. 8.
Based on the Interview Insights at this company, the Interview Difficulty is a score that goes from “very difficult” (red) to “very easy” (green).
The number in the middle of the doughnut pie chart is the mean of all these scores. The higher the number, the more difficult the interviews on average. This doughnut has different parts that, when you move your mouse over them, show you the 20% breakdown of each score given.
The title percentile score is based on an adjusted score based on Bayesian Estimates that is applied to the whole Company Database. This is done to account for companies that don’t have many interview insights. That is, as a business learns more, it becomes more sure of a “true score,” which moves it closer to its own simple average and away from the overall average of the data set. 3. 4.
Based on reviews at this company, the 20% of interns getting full-time offers chart is meant to give you a good idea of how the company hires people.
The number in the middle of the doughnut pie chart is the mean of all these scores. This doughnut has different parts that, when you move your mouse over them, show you the 20% breakdown of each score given.
It uses an adjusted score based on Bayesian Estimates to account for companies that don’t have many reviews, which is how the percentile score in the title is found. To put it simply, when a business gets more reviews, the “true score” becomes more likely to be accurate. This makes it move closer to the simple company average and away from the average of all the data points. 30%.
Marc Rowan, CEO and Co-Founder of Apollo Global Management
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