Type · Ownership

Enterprise · IB Analyst Interview Guide
How to Pass the Legal & General IB Analyst Interview in 2026
The Legal & General DNA (TL;DR)
The Legal & General Interview Loop
Your onsite loop will typically consist of 4 rounds.
- 1
Round 1
Recruiter ScreenMotivation, fit, GPA, deal interest. - 2
Round 2
Technical ScreenAccounting, valuation (DCF, comps, precedent transactions), enterprise vs equity value. - 3
Round 3
Market KnowledgeRecent deals, market events, sector outlook, why this firm. - 4
Round 4
SuperdayMultiple back-to-back interviews with MDs/VPs covering technical + behavioral + fit. - 5
Round 5
Behavioral / LeadershipPast 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 · Market Events
Type · Conflict 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
Recruiter Screen
1- 1
Type · Motivation
Why are you interested in investment banking, and specifically at Legal & General's asset management division?
Technical Screen
3- 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- 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
3- 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
10- 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? - 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? - + 8 more questions in this round (sign up to unlock)
Unlock the full Legal & General question bank
Free signup, no credit card. You get every question + the framework, grading signals, and worked answer for each.
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
Market Events
+ 1 more
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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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