Banking & Financial Services
Investment Banking Analyst interview questions
The questions this panel really asks — and what they’re testing, from the chair across the table.
Question 1
Take a deal you've worked on or studied closely — walk me through the strategic rationale, the key financial metrics that mattered to the buyer, and where the deal could have broken down. What would you have done differently?
Why they’ll ask it
This tests whether you actually understand deal mechanics or just memorise slide decks. A strong answer shows you can trace the logic from business problem to financial structure, identify which assumptions were fragile, and think like a principal, not a service provider. Weak answers rehearse valuation formulas without connecting them to real decision-making or miss entirely why a buyer would pay that multiple.
How would this land on your CV? Run the free analysis →Question 2
I'm going to give you a company snapshot — revenue, EBITDA, debt, growth rate. Build me a quick three-year projection under a base case and a downside case. Walk me through your assumptions and what changes between them.
Why they’ll ask it
We need to see if you can build a model under pressure without a template, reason about what drives value, and explain your assumptions clearly to a non-technical audience. This separates analysts who understand the economics from those who are fast at Excel but can't defend their numbers. Most candidates either make unrealistic assumptions or can't articulate why they chose them.
How would this land on your CV? Run the free analysis →Question 3
Describe a moment when you spotted something wrong in an analysis, a pitch, or a recommendation — something a senior person had missed or glossed over. What did you do, and what was the outcome?
Why they’ll ask it
Banking rewards people who are both detail-obsessed and diplomatic enough to surface problems without creating friction. We're testing whether you have the spine to speak up and the judgment to know when and how. Candidates often either claim they never found anything wrong or describe a moment where they were right but handled it poorly and damaged the relationship.
How would this land on your CV? Run the free analysis →Question 4
It's 11pm. You have three deliverables due tomorrow morning for three different senior bankers, and you can realistically do two of them properly. Walk me through what you actually do — in what order, and what you say to whom.
Why they’ll ask it
Analyst life is triage, and this tests the judgment juniors most often get wrong: whether you silently ship three mediocre pieces of work or communicate early and negotiate. The panel is listening for how you weigh deal-criticality against seniority, whether you protect quality on what a client will actually see, and whether you have the composure to escalate without drama. Saying 'I'd just work all night' misses the point — they want to know what you do when effort alone can't solve it.
How would this land on your CV? Run the free analysis →How interviewers size you up for this role
Interviewers walk in assuming you know financial statements and can use Excel — your CV has already signalled that. What the interview settles is whether you think like a dealmaker or a technician, whether you can explain complex ideas to a client without losing them, and whether you'll actually stay and develop into someone useful. Strong-on-paper candidates get rejected because they've memorised frameworks without understanding the business logic underneath, or because they come across as transactional — treating the job as a two-year box to tick before moving on. The panel is also listening for intellectual honesty: can you admit when you don't know something, and do you ask the right follow-up questions?
Investment Banking Analyst interviews — common questions
How technical is the modelling in an IB analyst interview?
You'll usually get a simple case — build a three-statement model or value a company using one or two methods. It's not about speed or perfection; it's about your logic and assumptions. They want to hear you think out loud, not watch you type silently for ten minutes. If you get stuck on a formula, say so and move on.
What should I know about the bank's recent deals before I walk in?
Read the last three to five announced transactions in your target sector. Understand the deal rationale, the valuation, and whether it's a buy-side or sell-side mandate. You don't need to memorise every number, but you should be able to discuss why the bank won the mandate and what the key risks were.
How much should I prepare for the technicals versus the behavioural questions?
Roughly equal. You need to be solid on modelling fundamentals and valuation, but the interview is as much about judgment, communication, and fit. A candidate who can explain a deal clearly and admit what they don't know will beat someone who's fast at Excel but can't articulate the thinking.
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