Last updated on January 21st, 2026 at 01:26 pm
You need to land an interview before you can land a job in investment banking. However, the question arises here: how did you crack the interview? In this comprehensive guide, we will go over the most important advice from a professional in this Investment Banking Interview Guide, which includes before, day, and after tactics. Also, we will discuss how important it is to select the appropriate course to improve your abilities and raise your chances of landing that elusive interview. I am considering that you are already aware of the various roles in investment banking
Its absolutely essential to know how to start an investment banking career, hence if you are not aware of that then please do read our take on it.
What banks test in investment banking interviews
Banks test accounting & financial statement knowledge, financial modelling & valuation, market awareness, behavioural fit (drive, teamwork, resilience), and communication skills. Expect technical case tests, Excel/modeling screens, fit questions, and current-events discussion.
Understanding the Landscape of Investment Banking Interview Guide
It takes strategy to move through the investment banking interview landscape. The investment banking interview guide highlights the complex nature of the process and highlights the significance of behavioral skills, cultural fit, and technical competency. Candidates need to be ready for every step of the process, from understanding banking concepts to performing exceptionally well in case studies. Genuine contacts and networking are essential, as is a dedication to lifelong learning. Furthermore, a candidate can boldly take on the challenges of this competitive field by embracing mock interviews and improving communication skills. For individuals hoping to succeed in interviews, this investment banking interview guide is a clear yet thorough reference.
How interview rounds work
Investment banking interviews are known for being among the most rigorous and multi-layered in the finance world. Banks test far more than just technical knowledge, they assess analytical strength, communication skills, cultural fit, resilience, and long-term potential. Here is a fully detailed look at what banks test at each interview stage in 2025.
1. HR / Screening Call
This is the first interaction and usually lasts 15–20 minutes.
CV Credibility & Relevance
1.Academic performance (B.Com, BBA, MBA, CA, CFA candidates).
2.Internships in IB, equity research, PE/VC, consulting, Big 4, or corporate finance.
3.Technical skills like Excel, financial modeling, PowerPoint.
Goal: Filter candidates who are genuinely interested, technically prepared, and able to handle the demanding lifestyle.
2. Superday / First-Round Interviews: Analysts & Associates
This round consists of 2–4 back-to-back interviews with analysts, associates, and sometimes VPs.
Technical Knowledge
1.Accounting: revenue recognition, working capital, cash flow.
2.Valuation: DCF, trading comparables, transaction comps.
3.M&A: synergies, accretion/dilution, deal structure.
4.LBO basics.
5.Excel modeling test (sometimes timed).
Behavioral Fit
1.Leadership stories (STAR format).
2.Conflict resolution.
3.Team experiences and pressure handling.
3. Technical + Case Interview: Modeling & Live Problem Solving
This round is where most candidates get filtered out.
Financial Modeling Challenge
1.Build a 3-statement model from scratch.
2.Perform sensitivity analysis.
3.Fix a broken model.
4.Do a clean-up exercise on raw financials.
Valuation Case Study
Mostly company financials and industry information plus deal scenarios are provided by the company they may ask you to:
1.Build a DCF
2.Calculate multiples
3.Recommend a buy/sell/hold
4.Present findings in a structured way
Live Case Problem
Interviewer may say:
“Client wants to acquire a competitor. Walk me through what you’d analyze.”
They evaluate:
1.Structure of your thinking
2.Ability to prioritize
3.Logical clarity under pressure
4.Communication and confidence
Goal: Test real-world readiness and on-the-spot analytical ability.
4. Partner / Senior Management Round
This is usually the final interview before the offer.
What MDs/Partners test:
Deal Fit
1.Can you think like a banker?
2.Do you understand the client’s impact?
3.Are you commercially aware?
Long-Term Career Commitment
Banks prefer candidates who will stay at least 2–3 years.
Communication & Professional Presence
Senior bankers need analysts who can represent the bank well in front of clients.
Mental Toughness
Investment banking hours are long (70–100 hours/week).
Goal: Select candidates who are stable, mature, and aligned with bank culture.
5. Offer & Negotiation: Compensation, Start Date, Background Check
Background & Compliance Check
1.Academics
2.Internships
3.Past employers
4.Certifications
5.Any compliance issues
Goal: Final validation before onboarding
Screening call: what to expect
The screening call is the first stage of the investment banking recruitment process, typically conducted by HR, a recruiter, or sometimes a junior banker. Its purpose is to confirm that you meet the bank’s expectations before moving you to the technical and behaviour rounds. While not overly difficult, this call determines whether you progress, so preparation matters.
1. Resume & Background Check
Expect straightforward questions about:
1.Your education, grades, internships, and key achievements
2.Any finance or modeling experience
3.Why your past roles prepare you for investment banking
They want to see consistency and relevance between your CV and career goals.
2. Motivation for Investment Banking
You must confidently answer:
1.“Why investment banking?”
2.“Why our bank?”
3.“What attracts you to this role?”
They are checking for clarity, passion, and whether you understand the demands of IB (long hours, analytical rigor, client pressure).
3. Basic Technical Questions
Nothing too deep, but expect fundamentals such as:
1.What is EBITDA?
2.How do you value a company?
3.What are the three financial statements?
4.What does a DCF do?
If your answers are shaky, they know you’re not ready for further rounds.
4. Soft Skills & Communication
Banks evaluate the following:
1.Speak clearly and professionally
2.Present ideas logically
3.Handle pressure
Since bankers speak with clients daily, communication skills matter even at this early stage.
5. Red Flags Recruiters Watch For
1.Inconsistent answers
2.Weak motivation or generic reasons
3.Poor communication or lack of energy
4.No understanding of the role demands
5.Unrealistic salary expectations (lateral candidates)
Investment banking Interview modelling test
The investment banking modelling test is the most important stage of the recruitment process, designed to know a candidate’s ability to build accurate, clean, and defensible financial models under time pressure. Most banks use a 60–120-minute test, either in Excel (live or take-home) or via an online platform. Candidates are asked to build a three-statement model, create a DCF valuation, perform sensitivity analysis, or complete a short case study that requires projecting revenue, margins, cash flows, and arriving at an equity value.
Scoring usually focuses on several key areas: accuracy, logic, linking, clarity, and presentation quality. A clean structure with error-free formulas and correctly linked financial statements is essential. Banks also check whether assumptions are reasonable, whether the model flows correctly from revenue down to free cash flow and whether outputs make sense relative to industry norms.
Common traps include over-complicating formulas, forgetting to balance the balance sheet, mixing hardcodes with formulas, and using assumptions without justification. Many candidates also lose points for poor formatting, inconsistent signs (positive/negative flows), wrong discount rate calculations, and unrealistic revenue growth or margin projections.
The best-performing candidates keep the model simple, clean, and audit-friendly, use consistent formatting, double-check links, and always validate whether their output looks financially reasonable. Banks value clarity over complexity, and a polished model with correct logic almost always outperforms an overly complicated sheet full of errors.
Superday: back-to-back interviews + case test
Your technical mastery, cultural fit, stamina, communication skills, and ability to perform under pressure, all core traits for front-office IB roles.
Superdays typically last 2–4 hours, with each interview running 20–30 minutes. You can expect a mix of technical questions (valuation, modelling logic, accounting flows), behavioural deep dives into your motivations and leadership stories, and a case analysis or mini-modelling exercise designed to test real-world thinking.
Before an Investment Banking Interview tips
- Educational Foundation: Make sure you have a strong educational background before even considering attending an investment banking interview. Usually required is a degree in finance, economics, or a similar discipline. Afterall, review essential ideas and keep abreast of market developments.
- Networking: In the banking sector, establishing a strong professional network is essential. Go to industry gatherings, make LinkedIn connections with other professionals, and ask for informational interviews. In addition to offering insightful information, networking raises your profile in the eyes of prospective employers.
- Investigate the organization: One definite technique to impress is to show that you are knowledgeable about the organization you are interviewing with. Recognize their market positioning, corporate culture, and recent transactions. Customize your responses to highlight how your abilities meet the needs of the company.
- Practice, Repetition: An expert who provides you with an investment banking interview guide can give you the best ideas for practice. However, practice frequently asks interview questions, particularly those pertaining to market trends, behavioral scenarios, and technical skills. Ask mentors and peers for their opinions, or think about hiring a professional interview coach.
- Keep Up with Current Incidents: Ask your investment banking interview guide provider to teach you strategies on how to keep up with current incidents. Keep up with news on finance, current affairs, and market movements. In addition, this information not only shows your dedication but also validates your capacity to apply abstract concepts to practical situations.
Core Technical Topics to Master
1. Accounting Fundamentals
Income statement, balance sheet, cash flow linkages; working capital; deferred taxes, non-cash items.
2. Financial Statement Analysis
Margins, ratios, efficiency metrics, leverage, liquidity, profitability trends
3. Valuation Methods
DCF, comparable companies, precedent transactions, LBO basics, sum-of-the-parts.
4. DCF Mastery
Free cash flow build-up, WACC, beta/levered-unlevered beta, terminal value (Gordon vs Exit Multiple).
5. Excel & Modeling Skills
Three-statement modeling, sensitivity tables, scenario cases, dynamic formulas.
6. M&A Concepts
Accretion/dilution, purchase vs pooling, synergies, goodwill, pro-forma adjustments.
7. LBO & Private Equity Basics
Debt schedules, IRR, MOIC, cash flows to equity, credit metrics.
8. Capital Markets Knowledge
IPO process, equity vs debt issuance, covenants, credit ratings, market trends.
9. Industry & Market Awareness
Sector multiples, competitive landscape, recent deals, macro drivers.
How to Prepare in 30 / 14 / 7 / 1 days – study plan
| Time Left | What to Focus On | Key Outcomes |
| 30 Days | Full preparation mode: Accounting fundamentals, 3-statement modeling, DCF, LBO, comps, valuation frameworks, Excel shortcuts, deal questions, recent M&A. | Strong technical base + complete modeling familiarity. |
| 14 Days | Intensive drilling: Timed technical practice, 1–2 full modeling tests, 100+ technical Qs, behavioural answers (STAR), 2–3 mock interviews. | Ready for technical screens + confident behavioural narratives. |
| 7 Days | Refinement: Review formulas, deal logic, resume bullets, brainteasers, common HR questions. Study live deals in your region. | Polished, concise answers + faster recall. |
| 1 Day | Light revision: Top 20 technicals + 10 behavioural stories. Research the bank & team. Sleep well. | Calm, sharp, prepared for Superday. |
To crack investment banking interviews, candidates should follow a structured plan: build technical fundamentals at 30 days, intensively practise modeling and technicals at 14 days, refine answers in the last week, and review lightly the day before. This ensures strong accounting knowledge, financial modeling confidence, and polished behavioural responses for Superday and final rounds. Check out our detailed take on how to become an investment banker.
The Day of an Investment Banking Interview tips
- Dress Well: After that, initial impressions count. Adopt a formal, conservative wardrobe. A confident and well-groomed appearance conveys to the interviewer your seriousness about the position.
- Punctuality: A professional investment banking interview guide provider suggests that being on time is a must. Whether it’s a face-to-face or virtual interview, get there early. Being on time shows that you are a dedicated and well-organized person.
- Positivity and Confidence: Throughout the interview, remain confident. Maintaining composure under duress is a highly regarded quality in the investment banking industry. Additionally, make eye contact, speak clearly, and demonstrate your quick thinking.
- Technical Proficiency: Be prepared for technical questions that evaluate your knowledge of market trends, valuation techniques, and financial principles. After that, prepare to talk about case studies and give an example of your problem-solving abilities.
- Behavioral Questions: Afterward, prepare yourself for questions on behavior that will test your ability to work with others and as a team.
After an Investment Banking Interview tips
- Send an email of gratitude: Send a prompt, succinct thank-you note to convey your appreciation for the chance. Afterward, to demonstrate your attention to detail, reiterate your interest in the job and briefly touch on a significant takeaway from the interview.
- Evaluate the Interview: Give your performance some thought. Determine your strong points and places for development. Additionally, make use of this self-evaluation to improve your interviewing techniques for upcoming chances.
- Follow-Up: You should think about sending a kind follow-up email to reiterate your interest and find out the status of your application if you haven’t heard back within the anticipated timeframe. So, you should do this after consulting with your investment banking interview guide provider. This exhibits tenacity and excitement.
- Financial Modeling Courses: A key competency in investment banking is the ability to master financial modeling. Think about signing up for classes and getting an investment banking interview guide. As a result, it provides you with practical experience developing financial models, assessments, and scenario analyses.
- Courses on networking and soft skills: Although technical skills are crucial, don’t undervalue the significance of soft skills. Therefore, you can differentiate yourself from other applicants by taking courses that emphasize teamwork, networking techniques, and effective communication.
- Interview Coaching Programs: Spending money on interview coaching programs might give you individualized advice based on your advantages and disadvantages. Therefore, interview scenarios can be simulated by experts with practical expertise who can offer priceless feedback to help you improve.
Recommended Preparation Path for Investment Banking Interviews
- Career understanding → https://mentormecareers.com/investment-banking-roles-career-path-in-india/
- Skill building → https://mentormecareers.com/financial-modeling-course-with-placement/
- Interview Questions → https://mentormecareers.com/financial-modeling-interview-questions-bank-guide/
- Structured prep Investment Banking Operations → https://mentormecareers.com/cibop-course/
Conclusion
Are you prepared to shine in the investment banking interview? So, consider improving your abilities with an in-depth tutorial. Getting an investment banking interview guide and course designed for investment banking interviews could help you increase your chances.
Also, by making the next move toward becoming an expert in investment banking interviews, you may invest in your future achievements.
So, why wait? Join right away to give yourself the best chance of standing out among the competition in this sector.
Don’ts of investment banking interview
1.Lie about skills, modelling experience, or deal exposure.
2.Interrupt interviewers or over-sell yourself.
3.Badmouth past employers or universities.
4.Ask early questions about salary, bonuses, or WFH.
Conclusion
In the end, because of an investment banking interview guide, you can get a job in investment banking. You raise your chances of success by getting the best Investment Banking Interview Guide for the interview, projecting confidence on the day, and strategically following up later. Also, selecting the appropriate educational path enhances your intellectual foundation. This also gives you the practical skills you need to succeed in investment banking.
Moreover, with the appropriate investment banking interview guide prep, you can easily get through the interview process and secure your desired position in investment banking.
FAQ
Modelling tests in investment banking typically involve a timed Excel exercise (30-90 minutes) where candidates build, correct or audit a 3-statement model, apply valuation techniques (such as DCF or comps), and answer short interpretation questions. Accuracy, speed (keyboard shortcuts) and clarity of output are key.
Use a three-part structure: (1) brief academic/professional background (2) relevant achievements (e.g., financial modelling, deals, internships) (3) why investment banking and why that firm, ending with what you’ll bring. Keep it 60-90 seconds, focused and tailored.
Common failure factors include: incorrect linkage between the three statements, missing or invalid formulas, lack of documentation or clearly labelled tabs, unrealistic assumptions, typographical errors, no commentary or interpretation of results, and exceeding time limit.
Yes. Many investment banking interviews include case-study rounds or Superday tests where you analyze a business scenario (e.g. M&A or leveraged finance), build a simplified model or valuation, or recommend a deal. These assess business judgment, technical acumen and presentation skills.
Prepare by practising mock rounds (4–6 back-to-back interviews), refining technical and behavioural answers, rehearsing your pitch, brushing up on deal knowledge, and staying calm and composed. Research the firm’s deals, culture and key bankers. Dress smart, bring concise examples and ask thoughtful questions.
Investment banks look for strong financial modelling, valuation, and accounting skills; proficiency with Excel and PowerPoint; analytical thinking and attention to detail; excellent communication and presentation; deal awareness and commercial mindset; ability to work long hours under pressure; teamwork and adaptability.
