Type · pitch-deck-defense
A Managing Director asks you to prepare a sell-side teaser for an Italian family-owned industrial firm with off-balance-sheet leasing liabilities under IFRS 16. How do you present normalized EBITDA to prospective acquirers?
How to Pass the Sella IB Analyst Interview in 2026
Enterprise · IB Analyst Interview Guide
Interview language: English
The Sella DNA (TL;DR)
Banca Sella's digital banking operations require fluency in PSD2 compliance and modular open banking integrations. Technical rigor in API security and legacy mainframe interoperability determines hiring outcomes.
The Sella 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.
The Danger Zone: Top Reasons Candidates Fail
Based on our database of Sella interview outcomes, avoid these common traps:
- Failing to adjust deferred tax assets or tax liabilities created by book-tax accounting differences
- Confusing Equity Value changes with share price movements in debt-funded balance sheet expansions
- Ignoring working capital adjustments or recurring revenue quality in leverage calculations
- Double-counting ESG capex in both discount rate adjustments and free cash flow projections
Test Yourself: Real Sella Questions
Three real prompts pulled from our database.
Type · regulatory-impact
How do regulatory compliance costs under European open banking frameworks impact valuation multiples for traditional regional banks versus specialized fintech providers?
Type · capital-structure
How does issuing a EUR 50 million subordinated bond affect Enterprise Value versus Equity Value, assuming half the proceeds are held in cash and half are used for immediate debt service?
+ many more questions, signals, and worked examples
Sign up to unlock the full Sella grading rubric
Sella Interview Question Bank
A sample from our database, grouped by round. Sign up to see the full set.
7 of 15 questions shown
1
Recruiter Screen
1- 1
Type · fit-motivation
Why Banca Sella's corporate and investment banking division over a international bulge bracket firm, and what specific dynamics in Italian mid-market M&A interest you right now?
2
Technical Screen
4- 2
Type · accounting
Walk me through how a EUR 10 million write-down of capitalized software impacts the three financial statements for an enterprise fintech firm. - 3
Type · valuation
When valuing a European corporate banking technology vendor, why might EV/EBITDA be less reliable than EV/EBIT, and how would you adjust Enterprise Value for unfunded pension obligations under IFRS? - + 2 more questions in this round (sign up to unlock)
3
Market Knowledge
4- 4
Type · sector-trends
What are the primary M&A drivers in the European open banking and payments sector today, and how do ECB interest rate decisions affect mid-market deal multiples? - 5
Type · deal-analysis
Pitch me a recent European acquisition in the B2B financial services or fintech space. What was the core synergy thesis, and how was the deal structured? - + 2 more questions in this round (sign up to unlock)
4
Superday
6- 6
Type · lbo-modeling
Walk me through an LBO analysis for a EUR 200M revenue Italian software provider: what leverage ratio would European private credit funds offer, and what returns targets drive the entry multiple? - 7
Type · pitch-deck-defense
A Managing Director asks you to prepare a sell-side teaser for an Italian family-owned industrial firm with off-balance-sheet leasing liabilities under IFRS 16. How do you present normalized EBITDA to prospective acquirers? - + 4 more questions in this round (sign up to unlock)
Unlock all 15 Sella questions, free
No credit card. Every question with its framework, the grading signals interviewers score against, and a worked answer for each.
Interview tracks at Sella
How Sella's DNA translates across functions. Pick your role.
Compare Sella with similar employers
Same DNA, different bar. Browse the closest companies in our database and see how their loops differ.
Swedbank
Same tierSwedbank Group's explicit principles (Open, Simple, Caring) dictate evaluation criteria, emphasizing sustainable bank...
See Swedbank interview questions
Hannover Re
Same tierActuarial precision underpins Hannover Re's global standing among Leading Reinsurers, meaning interviews grade your c...
See Hannover Re interview questions
Y Combinator
Same tierHigh execution velocity anchors evaluation for roles supporting the batch, mirroring the concise messaging taught dur...
See Y Combinator interview questions
Practice Sella interviews end-to-end
Sella Mock Interview
Run a live mock interview with our AI interviewer using Sella-style prompts. Get scored on structure, signal, and answer length - exactly how the real loop grades you.
Open
STAR Stories for Sella Behavioral Rounds
Build a Story Bank of your past wins, mapped to the leadership signals Sella interviewers grade on. Reuse them across every behavioral round.
Open
Sella Interview Prep Hub
The frameworks behind every Sella round: CIRCLES for product sense, hypothesis-driven debugging for analytical, STAR for behavioral. Learn each one in 10 minutes.
Open
Interview Frameworks
CIRCLES, STAR, AARRR, RICE, MECE. The exact frameworks that make Sella interviewers nod instead of frown. Step-by-step playbooks with the moves and the pitfalls.
Open
Sample answers
What a strong answer to these Sella interview questions shows.
A Managing Director asks you to prepare a sell-side teaser for an Italian family-owned industrial firm with off-balance-sheet leasing liabilities under IFRS 16. How do you present normalized EBITDA to prospective acquirers?
A strong answer shows: Reconciles pre- and post-IFRS 16 lease accounting adjustments on presentation materials; Defends add-backs using clear documentation standards acceptable to buy-side diligence teams; Structures teaser metrics to highlight core operational profitability without misleading buyers.
How do regulatory compliance costs under European open banking frameworks impact valuation multiples for traditional regional banks versus specialized fintech providers?
A strong answer shows: Contrasts yield-dependent banking multiples with fee-based payment network multiples; Factors open-banking compliance overhead into mid-term EBITDA margin forecasts; Identifies strategic acquirers seeking technology capabilities versus financial buyers.
Frequently asked questions
How long does the Sella interview process take?
Most candidates spend between 4 and 8 weeks from recruiter screen to offer. The onsite loop itself runs in a single day or is split across two half-days, with debrief and offer typically within 5 business days after.
How should I prepare specifically for Sella?
Focus on three things: (1) the company DNA shown above - what they actually grade for, (2) the rounds in your loop, especially the round most candidates underestimate, and (3) drilling on the question types in this guide using a structured framework like CIRCLES or STAR.
Does this apply to engineering or design roles at Sella?
The DNA stays the same - what changes is the round mix. SWE candidates face coding screens instead of Product Sense; designers face portfolio reviews and design exercises. The "what they value" and behavioral signals carry across all functions.
Explore careers on WorkFive →