1
Recruiter Screen
Motivation, fit, GPA, deal interest.
Have a specific, researched reason for this bank and this group ready, not a generic 'I love finance'.
Prep for your role
Investment Banking Analyst Interview Prep
IB Analyst loops test a specific set of skills across distinct rounds. Know what each round is grading, bring the right framework, and practice the parts that break under pressure.
An investment banking analyst interview usually spans five stages: a recruiter screen, a technical screen on accounting and valuation, a market-knowledge round, the superday gauntlet, and behavioral fit questions. Most candidates over-prepare the technical side and under-prepare the behavioral round, so a structured STAR answer is often the real differentiator.
161
companies with real interview data
5
interview rounds, decoded
8
real questions shown below
Watch the IB Analyst interview breakdown
A short video walkthrough of the rounds, the questions companies really ask, and what a strong answer sounds like.
Our bank holds more than 2,000 real IB Analyst interview questions, from more than 100 companies. Counted across 101,000+ real interview questions from 1,900+ companies, by role and round. Measured, not surveyed. Chapters: 0:00 The IB Analyst interview 0:10 Where the questions come from 0:40 The IB Analyst Interview Across the Market 0:55 Technical Screen · Valuation: a real question 1:26 Market Knowledge · Market Trends: a real question 1:57 Superday · Fit: a real question 2:25 The danger zone 2:41 Get the full guide
The five IB Analyst rounds, decoded
2
Technical Screen
Accounting, valuation (DCF, comps, precedent transactions), enterprise vs equity value.
Know your walk-through-a-DCF and enterprise-vs-equity-value cold. Precision matters more than speed.
3
Market Knowledge
Recent deals, market events, sector outlook, why this firm.
Have 2-3 recent deals ready to discuss with a real opinion, not just a headline.
4
Superday
Multiple back-to-back interviews with MDs/VPs covering technical + behavioral + fit.
Treat every room as round one: energy and structure must not decay by interview six.
5
Behavioral / Leadership
Past evidence of ownership, influence, resolving conflict.
Real IB Analyst interview questions, from real banks
Pulled directly from our corpus of researched interview loops - not invented for this page.
Goldman Sachs
Type · Motivation
Why are you interested in investment banking, and specifically at Goldman Sachs?
See all Goldman Sachs IB questions
J.P. Morgan
Type · accounting
If a company uses LIFO in a period of rising prices, how does that impact the cash flow statement compared to FIFO?
See all J.P. Morgan IB questions
AXA
Type · Market Trends
What are the key trends impacting the global insurance and asset management industries today? How might these trends affect AXA's strategy and potential M&A activity?
See all AXA IB questions
Aon
Type · technical-behavioral
Walk me through a time you had to reconcile two conflicting data sources when building a valuation model; how did you decide which to trust?
See all Aon IB questions
Aviva
Type · behavioral
We often work under extreme time pressure during live deals. Tell me about a time you had to balance speed with accuracy. How did you ensure quality?
See all Aviva IB questions
Mapfre
Type · motivation
Mapfre operates heavily in the insurance and reinsurance space. Why does this specific sector appeal to you compared to generalist M&A or tech-focused investment banking?
See all Mapfre IB questions
Marsh
Type · motivation
Marsh operates at the intersection of risk advisory and capital markets. Why is this specific positioning more compelling to you than a traditional bulge bracket investment bank?
See all Marsh IB questions
MetLife
Type · motivation
MetLife operates at the intersection of insurance and asset management. Why does this specific business model appeal to you more than a pure-play investment bank?
See all MetLife IB questionsThe behavioral round is where technical candidates blend in
Technical prep gets most of the attention in IB recruiting, but the behavioral round, and the 'why this bank' fit questions threaded through the superday, is where otherwise-strong technical candidates blend into the crowd. STAR turns a vague 'I worked hard on a deal team' into a structured, differentiated answer.
Read the full STAR framework guidePrep for the bank you are actually interviewing with
IB bars differ: a bulge bracket, an elite boutique, and a middle-market shop test different technical depth and reward different culture fit. Browse real IB Analyst questions and the round structure for real banks.
Browse IB Analyst interview guides by bankIB Analyst interview FAQ
What does an investment banking analyst interview involve?
Most IB Analyst loops run through five stages: a recruiter screen (motivation and fit), a technical screen (accounting and valuation), a market-knowledge round (recent deals and sector outlook), the superday (back-to-back interviews with MDs and VPs), and behavioral or fit questions woven throughout.
What technical knowledge is table stakes for the IB technical screen?
You need to walk through a DCF cold, explain the three core valuation methods (DCF, comparable companies, precedent transactions) and when each applies, and explain enterprise value vs equity value without hesitating. Interviewers grade precision over speed.
How do I keep my energy up across a superday?
Treat every interview as round one: MDs and VPs compare notes afterward, and a flat sixth interview can undo five strong ones. Eat something between rounds, reset your posture walking between rooms, and deliver your 'why this bank' opener fresh each time rather than running it on autopilot.
How do I prepare for IB behavioral and fit questions?
Prepare 6 to 8 STAR stories covering ownership on a deal or project, working under tight deadlines, and a disagreement you resolved. Have a sharp, specific answer ready for 'why banking' and 'why this firm', since those two questions get asked in nearly every room of a superday.
How should I practice for an IB Analyst interview?
Talk through DCF walk-throughs and 'why this bank' answers out loud against a timer, since composure and precision under pressure are exactly what gets graded. A voice mock interview can pose a technical or fit question and score whether your answer stayed structured and confident.
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