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Enterprise · IB Analyst Interview Guide

Interview language: English

How to Pass the Legal & General IB Analyst Interview in 2026

The Legal & General DNA (TL;DR)

Fit with L&G's purpose and values, demonstrating strong analytical skills, risk awareness, and a collaborative approach to problem-solving within a regulated financial environment.

The Legal & General Interview Loop

Your onsite loop will typically consist of 4 rounds.

1
Round 1
Recruiter Screen
Motivation, fit, GPA, deal interest.
2
Round 2
Technical Screen
Accounting, valuation (DCF, comps, precedent transactions), enterprise vs equity value.
3
Round 3
Market Knowledge
Recent deals, market events, sector outlook, why this firm.
4
Round 4
Superday
Multiple back-to-back interviews with MDs/VPs covering technical + behavioral + fit.
5
Round 5
Behavioral / Leadership
Past evidence of ownership, influence, resolving conflict.

The Danger Zone: Top Reasons Candidates Fail

Based on our database of Legal & General interview outcomes, avoid these common traps:

Not connecting regulatory or demographic shifts to concrete financial impacts on L&G's annuity business valuation or strategic options.
Failing to discuss the terminal value calculation and its sensitivity to growth assumptions in a long-term financial services context.
Selecting peers that are too broad (e.g., including pure banks or asset managers without insurance operations) and not adjusting for differences in business mix or scale.
Not linking L&G's specific products or strategies (e.g., defined contribution solutions, lifetime mortgages) to these trends.

Test Yourself: Real Legal & General Questions

Three real prompts pulled from our database.

Type · Sector Outlook

What are the key long-term trends shaping the UK pensions and retirement savings market, and how is Legal & General positioned to capitalize on them?

Type · Fit/Behavioral

Describe a situation where you had to work with a team to achieve a complex financial objective under a tight deadline. What was your role, and how did you ensure accuracy and quality?

Type · Market Events

How has the recent increase in interest rates impacted Legal & General's different business segments (e.g., insurance, asset management, pensions)?

+ many more questions, signals, and worked examples

Unlock the Legal & General rubric, free

Legal & General Interview Question Bank

A sample from our database, grouped by round. Sign up to see the full set.

9 of 14 questions shown

Recruiter Screen

1
Type · Motivation
Why are you interested in investment banking, and specifically at Legal & General's asset management division?

Technical Screen

2
Type · Valuation
Walk me through a Discounted Cash Flow (DCF) analysis. What are the key drivers, and how would you adjust it for a company like Legal & General, which has significant insurance and asset management operations?
3
Type · Valuation
How would you value Legal & General using comparable company analysis (comps)? What specific metrics and multiples would you focus on, and what are the challenges in finding truly comparable companies?
+ 1 more questions in this round (sign up to unlock)

Market Knowledge

4
Type · Recent Deals
Can you discuss a recent significant M&A transaction or capital markets event within the UK financial services sector, and what was Legal & General's potential role or reaction?
5
Type · Market Events
How has the recent increase in interest rates impacted Legal & General's different business segments (e.g., insurance, asset management, pensions)?
+ 2 more questions in this round (sign up to unlock)

Superday

6
Type · Technical/Market
Legal & General Capital invests in alternative assets and direct investments. How would you assess the attractiveness of a direct investment opportunity in a UK renewable energy infrastructure project for L&G?
7
Type · Technical/Valuation
Imagine L&G is considering acquiring a mid-sized UK defined benefit pension scheme administrator. What are the key financial metrics and risks you would analyze to determine the valuation and potential deal synergies?
+ 1 more questions in this round (sign up to unlock)

Behavioral / Leadership

8
Type · Ownership
At Legal and General, we manage long-term liabilities that span decades. Describe a time you identified a flaw or inefficiency in a recurring financial model or reporting process that you were responsible for maintaining. How did you ensure the fix was robust enough to prevent errors in future cycles?
9
Type · Influence
Describe a time you had to persuade someone or a group to adopt your point of view when they initially disagreed. How did you approach it?
+ 1 more questions in this round (sign up to unlock)

Unlock all 14 Legal & General questions, free

No credit card. Every question with its framework, the grading signals interviewers score against, and a worked answer for each.

Unlock all 14 Legal & General questions

Interview tracks at Legal & General

How Legal & General's DNA translates across functions. Pick your role.

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Practice Legal & General interviews end-to-end

Legal & General Mock Interview

Run a live mock interview with our AI interviewer using Legal & General-style prompts. Get scored on structure, signal, and answer length - exactly how the real loop grades you.

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STAR Stories for Legal & General Behavioral Rounds

Build a Story Bank of your past wins, mapped to the leadership signals Legal & General interviewers grade on. Reuse them across every behavioral round.

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Legal & General Interview Prep Hub

The frameworks behind every Legal & General round: CIRCLES for product sense, hypothesis-driven debugging for analytical, STAR for behavioral. Learn each one in 10 minutes.

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Interview Frameworks

CIRCLES, STAR, AARRR, RICE, MECE. The exact frameworks that make Legal & General interviewers nod instead of frown. Step-by-step playbooks with the moves and the pitfalls.

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Sample answers

What a strong answer to these Legal & General interview questions shows.

What are the key long-term trends shaping the UK pensions and retirement savings market, and how is Legal & General positioned to capitalize on them?

A strong answer shows: Strategic thinking about industry evolution.; Knowledge of L&G's product suite and market positioning..

Describe a situation where you had to work with a team to achieve a complex financial objective under a tight deadline. What was your role, and how did you ensure accuracy and quality?

A strong answer shows: Teamwork and collaboration skills.; Ability to perform under pressure and manage complex tasks.; Attention to detail and commitment to quality..

Frequently asked questions

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