The overallprocess of completing interviews varies based on your location (e.g., North America vs. Europe) and the level of roles you’re applying to (e.g., Analyst vs. Associate).
If you’re inNorth America and you’re applying toAnalyst roles, the investment banking interview process usually goes like this:
- Network months in advance and submit your application online.
- Complete a HireVue or other pre-recorded video interview, or possibly a phone interview with a human.
- Then, come into the bank’s office for a “Superday,” where you interview in-person with many bankers at all levels (Analyst through Managing Director).
If you get an offer, you’ll hear back quickly; if not, they may not say anything, or they may drag out the decision.
At theMBA level (for Associate roles), it’s similar, but banks tend to focus on on-campus recruitment at the top business schools.
If you’re applying outside of these formal processes – for example, you’re working at a Big 4 firm or valuation firm and you apply for full-time IB roles – then the process will be a series of interviews over a long period, with unpredictable timing and less reliance on HireVue and other automated assessments.
HireVue questions tend to bevery generic (“What are your strengths and weaknesses? Why our bank? Why investment banking?”), so they should not require additional preparation.
For more, see our HireVue interview guide.
Real interviews are far more challenging because they could ask you anything, and they’ll judge not only your responses but also your body language and “cultural fit” with the group.
InEurope, and especially the U.K., this process is different because:
- You will have to complete online math, logic, and verbal tests, along with competency questions(written versions of “fit” questions); and
- Instead of a Superday, you will go to anassessment center in the final step.
At this “assessment center,” or “AC,” you will complete exercises such as group presentations, report writing, role-playing, and e-tray/in-tray (to simulate your responses to emails) in addition to the standard interviews.
ACs test your ability toperform in real life more effectively, but you’ll have to spend additional time preparing for them because the tasks are different from those in standard interviews.
In other regions, such as Asia and Australia, the interview process is somewhere in between these two.
We cover the details of this process in the articles on EMEA recruitment, assessment centers, and competency questions.
FAQs
Investment banks now expect candidates to possess detailed technical knowledge of accounting, finance, valuation, and M&A and LBO modeling. There are no “shortcuts” to mastering these topics; you need to put in the time to read, learn, and practice, or you won't stand a chance against candidates who have.
How long does it take to prep for IB interviews? ›
There are only four types of questions you'll encounter in interviews at investment banks, and you can prepare for 3 / 4 of them in 1-2 days (or less). The last category – technical questions – will take more time and effort, but you can save time by focusing on the right topics and ignoring the fluff.
How do you stand out in an investment banking interview? ›
Preparing for Investment Banking Interviews: Dos and Don'ts
Interviews are an opportunity to demonstrate your knowledge, skills, and fit for the role. Prepare by researching the bank, reviewing technical skills, and practicing behavioral questions. Also, dress appropriately, make eye contact, and stay engaged.
What is a good weakness to say in an investment banking interview? ›
Any “weakness” that you cite in an interview should: Be Real, But Not TOO Real – Pick something that is a real weakness, but which is not a “deal-breaker weakness.” For example, you could say that you sometimes take too long to make decisions, which makes projects take more time.
How to nail an investment banking interview? ›
Preparing for an investment banking interview requires a lot of preparation. Before going into an interview, research the particular bank, familiarize yourself with the deals it has done in the past or is currently working on, and be prepared to talk about the economy and financial markets.
How many rounds of interviews is normal for investment banking? ›
Investment banks typically hold two rounds of interviews, although some hold more than this. The first round usually takes the form of a telephone interview or video interview. Questions about your motivation for applying often feature heavily in this initial interview.
Is it hard to pass IB? ›
Passing the IB is harder than climbing Mount Everest, that there is no way that you can do the IB and still average 8 hours of sleep per night, or that no one can continue pursuing their hobbies during their IB as all your time is dedicated to studies.
How hard are investment banking interviews? ›
The questions can seem daunting, but remember: you are not expected to be an expert already. The interviewer wants to see that you have some core investment banking skills and can handle a bit of a challenge, so these questions are common for entry- and junior-level roles.
Is it hard to get a job in IB? ›
Investment banking recruiting is an extremely competitive process, so you'll want to do whatever you can to stand out during the recruitment process. Banks value the quality of your job experience, and the quality of your schools attended, and how hard you network or “hustle” for the role.
How to answer tell me about yourself ib? ›
Provide a Brief Highlight-Summary of Your Experience
The best way to answer "Tell me about yourself" is with a brief highlight-summary of your experience, your education, the value you bring to an employer, and the reason you're looking forward to learning more about this next job and the opportunity to work with them.
Give the interviewer a story that shows your achievements and how everything fits together for you to be a successful investment banker. Make sure to point out how each job has let you take on more responsibility, or required you to acquire more finance/business knowledge than the one before it.
Why am I suited for investment banking? ›
To make sure you're a good fit for investment banking, here is a list of traits that are considered important in the industry: Willingness to work extremely long hours (80+ per week) High attention to detail. Ability to take direction well.
What is the star method when interviewing? ›
The STAR method is a structured manner of responding to a behavioral-based interview question by discussing the specific situation, task, action, and result of the situation you are describing.
How to answer why should we hire you in investment banking? ›
How to answer "Why investment banking?" in an interview
- Showcase your interest in the industry. ...
- Focus on how can you can be beneficial. ...
- Include your educational background. ...
- Offer some on-the-job examples. ...
- Highlight your strengths and skills.
Here are some tips for answering this question: Choose two or three strengths that are relevant to investment banking. Some examples of strengths that are valued in investment banking include analytical skills, problem-solving skills, attention to detail, communication skills, and teamwork skills.
How to pass the interview at JP Morgan? ›
Stay up to date on the news, both general and firm-specific, so you can speak from a place of knowledge and confidence. Be ready to share specific examples of your previous experience that reflect transferrable skills to the opportunity you are applying for.
What makes you a good fit for investment banking? ›
Essential Qualities for an Investment Banker
Finally, would-be investment bankers need to be self-motivated, good communicators, natural leaders, and team players, too. You also need to have a strong sense of professionalism at all times.
What to expect in a first round investment banking interview? ›
Because first-round interviews are initial assessments, technical questions will typically be more basic in nature. Technical questions will differ based on the industry, firm, and position. For example, you could be asked questions about valuation methodologies, accounting, or the three financial statements.
