Want to land a job at Lazard? As one of the top elite boutiques, landing a job here can be tough. That's simply because of the large number of applications the firm receives for limited positions. However, if you familiarize yourself with the recruitment process and prepare for the interviews thoroughly, you may impress the interviewers and get an offer!
We are here to help you ace the interview process. In this Lazard interview guide, we will walk you through the recruitment process, the firm's key areas, sample interview questions, the hiring timeline, and – most importantly – proven tips for interview preparation. Read on to get an idea of what to expect and how to prepare to land the job.
Lazard, founded in 1848, is one of the largest independent investment banks globally. Its core business includes mergers and acquisitions (M&A), restructuring (RX), capital raising, and strategic advisory services.
The Lazard RX group is known as the most prestigious one at the firm. Unlike traditional investment banks, Lazard does not engage in underwriting securities. Instead, the Capital Markets Advisory group primarily focuses on advising clients on how to best raise equity or debt capital.
The M&A industry groups at Lazard include healthcare, consumer & retail, real estate, FIG, TMT, and Power (Power, Energy, Infrastructure). Besides investment banking, Lazard also specializes in asset management. The division manages a significant amount of assets for both institutional and individual clients.
Lazard's recruitment process typically includes an initial application, online assessments, phone screening, first round of interviews and final rounds. The process may vary slightly depending on the location and specific role. However, you should be good to go if you prepare for this general process.
Here's an overview of each of these recruitment stages.
Stage 1: Submit an Application
The first step in Lazard's hiring process is sending an application. For most applicants, they submit their applications online by completing an online profile and uploading a resume.
You may also apply through employee referral or your college and university. Applying through these methods doesn't guarantee a positive outcome as you'll go through a similar interview process as every other applicant.
Since your progression to the next stages depends on your initial application, do the best you can to come off as the most qualified candidate. Include various relevant work experiences in your CV, list your extracurricular activities, and highlight the skills you've gained through those experiences.
Stage 2: Online Assessments
Once your application goes through, the next step is an online assessment. Here you'll do a series of tests, mainly behavioral and fit questions. It's more of a screening stage that tests your personality, decision making skills, problem solving skills, and compatibility with the job role and company culture.
The online assessment may also include a pre-recorded video interview. You’ll receive a series of questions that you must answer within a specified time. Your answers are recorded to be reviewed later by recruiters. During this interview, speak clearly and concisely, maintain a good posture, and use a professional tone.
👉 Take a look at our article about the HireVue Interview and find out more about this online assessment!
Stage 3: Phone Interview
For most applicants, the first round of interviews begins with a phone screening. The call can last up to 30 minutes and is primarily focused on behavioral questions. You may also get some technical questions, so it's good to be prepared.
Stage 4: One-on-One Interviews
If the recruiter is impressed during the phone screening, you'll be invited for the first round of one-on-one interviews. These interviews might be in person or via Zoom.
During the interview, you will interact with either the HR team or junior investment bankers. Expect a more conversational session that will assess your background and your fit for the firm's culture. That means a lot of behavioral questions, but you should also expect some technical questions, including discussing cases.
Stage 5: Final Round Interviews
The next step is a final round of in person interviews with senior bankers, including managing directors and VPs. Of course, that's if you impressed the junior team. In this stage, you can expect deeper technical questions including how you would respond to various M&A scenarios. The goal is to test how you would approach a deal.
Stage 6: The Offer Decision
If you make it through the final round of interviews, you may get an offer from the company. You may also be wait-listed as the company comes to a decision. Once you receive an offer, you can either decline or accept it. In most cases you'll have up to two weeks to make that decision.
There's no strict or official timeline for Lazard's recruitment process. However, the entire process from initial application to final offer often takes four weeks. It might be shorter or longer depending on individual cases.
After the final interview, you may wait up to two weeks to hear back from Lazard.
Lazard interviews are meant to test your technical skills, problem-solving skills, decision-making skills, personality, and cultural fit. As such, they’ll ask technical and behavioral questions. The questions may be worded differently but often test the same concepts or skills.
For the fit and behavioral interview questions, they will test your character and how you react to different situations, your motivations for joining Lazard, experiences working under pressure, ethics, and such. Here are some of the questions you can get at Lazard:
👉 Take a look at our Stress Question tool and prepare yourself for this part of the interview!
As for the technical questions, they will test your understanding of financial concepts. These include areas like valuation, corporate finance, accounting, and financial modeling. If you’re interviewing for a specific industry group or division, the questions might be tailored for that. Interviewers may also ask about industry news and trends to gauge your knowledge and interest in the field. Here are some examples of technical questions for IB roles at Lazard:
The key to succeeding in investment banking interviews at Lazard is thorough preparation. But how do you prepare and what should you focus on? The most proven ways to prepare for IB interviews is through self-study, mock interviews, and coaching.
Here's what you need to know about each of these interview preparation tips.
Self-Study
Your self study when preparing for the interviews should include:
Thorough self-study in these key areas will help you feel more confident and prepared for the questions. So, schedule time for self study to ensure you feel confident during the interview process.
Mock Interviews
In addition to self-study, make sure to practice with mock interviews. Find someone with experience in finance or investment banking – such as a peer or mentor – who can help simulate a real interview setting.
Mock interviews allow you to practice your answers to common interview questions, receive constructive feedback, identify and address your weaknesses, and build confidence. You can also record yourself during the sessions to review different aspects like body language, tone, and clarity later.
👉 You can find peers to practice mock interviews at our Meeting Board!
Coaching
Combine your self study and mock interviews with coaching. A good investment banking interview coach can spot what a peer interviewer may miss, and provide personalized coaching sessions based on your individual strengths, weaknesses, and career goals.
You'll also get expert guidance on interview prep since they possess in-depth knowledge of the investment banking industry, interview processes, and the specific expectations of firms like Lazard.
The feedback you'll get from your sessions with an IB interview coach will also be more constructive than that of peers or any other mock interviewer. However, we recommend hiring an interview coach after doing some self study and mock interviews with peers.
👉 Are you looking for an expert to help you prepare for your interview? Then take a look at our Coach Directory!
Lazard is a top elite boutique firm that is well known for its strong restructuring (RX) group. The other groups including Capital Markets Advisory and M&A also perform well. Due to its prestige, Lazard gets a lot of applicants for any given role.
So, landing an IB role at the firm requires thorough interview preparation. You can prepare for Lazard interviews through self-study, mock interviews, and working with interview coaches. Once you do all that interview prep work, you will more feel confident during the actual interview which helps in presenting yourself better.
