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Enterprise · IB Analyst Interview Guide

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. 1

    Round 1

    Recruiter Screen
    Motivation, fit, GPA, deal interest.
  2. 2

    Round 2

    Technical Screen
    Accounting, valuation (DCF, comps, precedent transactions), enterprise vs equity value.
  3. 3

    Round 3

    Market Knowledge
    Recent deals, market events, sector outlook, why this firm.
  4. 4

    Round 4

    Superday
    Multiple back-to-back interviews with MDs/VPs covering technical + behavioral + fit.
  5. 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:

  • Providing a superficial answer about 'regulation' without specifying which regulations (e.g., Pension Freedom, Solvency II) or their specific impacts.
  • Failing to articulate the specific actions they took beyond identifying the problem.
  • 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.

Test Yourself: Real Legal & General Questions

Three real prompts pulled from our database.

Type · Ownership

Tell me about a time you took ownership of a project or problem that was not explicitly assigned to you. What was the situation, what did you do, and what was the outcome?

Type · Market Events

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

Type · Conflict Resolution

Tell me about a time you had a significant disagreement with a team member or manager. How did you handle the conflict, and what was the resolution?

+ many more questions, signals, and worked examples

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Legal & General Interview Question Bank

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

9 of 21 questions shown

1

Recruiter Screen

1
  1. 1

    Type · Motivation

    Why are you interested in investment banking, and specifically at Legal & General's asset management division?
2

Technical Screen

3
  1. 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?
  2. 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?
  3. + 1 more questions in this round (sign up to unlock)
3

Market Knowledge

4
  1. 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?
  2. 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)?
  3. + 2 more questions in this round (sign up to unlock)
4

Superday

3
  1. 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?
  2. 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?
  3. + 1 more questions in this round (sign up to unlock)
5

Behavioral / Leadership

10
  1. 8

    Type · Ownership

    Tell me about a time you took ownership of a project or problem that was not explicitly assigned to you. What was the situation, what did you do, and what was the outcome?
  2. 9

    Type · Influence

    Describe a situation where you had to influence a stakeholder or team who disagreed with your proposed approach. How did you gain their buy-in?
  3. + 8 more questions in this round (sign up to unlock)

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Interview tracks at Legal & General

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

For LGIM analyst roles, expect rigorous assessment of quantitative skills, market understanding, and risk analysis. Demonstrate ability to contribute to portfolio management or research, aligning with L&G's long-term investment strategies and responsible investing principles.

Ownership

Tell me about a time you took ownership of a project or problem that was not explicitly assigned to you. What was the situation, what did you do, and what was the outcome?

Market Events

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

+ 1 more

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Compare Legal & General with similar employers

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