How do you prepare for an investment banking interview as a beginner?

Question

I’ve got my first interview for an entry-level investment banking role coming up, and I’m feeling pretty nervous because I’m not sure what to expect. What kind of questions are typically asked in these interviews, especially for someone just starting out? Should I be focusing more on technical questions, or are the behavioral ones just as important? If anyone has tips or resources that could help me prepare, I’d be really grateful!

Answer 1

Hey,

Sounds like an exciting opportunity — and yeah, prepping for your first IB interview can feel a bit overwhelming. The key is to cover both technical and behavioral questions since both tend to come up.

For the technical side, focus on accounting basics, valuation methods like DCF and comparables, and understanding financial statements. Practicing some straightforward financial modeling can also be a big plus. On the behavioral side, think about how you’ll explain your story — why IB, what relevant experiences you’ve had, and how you’ve handled challenges. Clear and confident answers that connect your background to the role can really help you stand out.

If you want to sharpen your skills further, PrepLounge has some useful resources for mock interviews and case prep. And honestly, staying calm and composed can leave just as strong an impression as nailing the technicals.

Good luck! If you’ve got more questions, feel free to ask.

Simon

Answer 2

Hello Anonymous,

I'm a bit late to the party, but maybe my answer will still be helpful. First of all, it's totally normal to feel nervous before your first interviews, so don't worry.

Typically, entry-level interviews cover both technical and behavioral questions. On the technical side, expect questions about basic finance concepts like valuation methods (e.g., DCF, comparables), financial statements, market trends etc., so make sure to brush up your technical finance knowledge. Mock interviews can also help to be prepared and you should make sure to check the news about recent deals or market trends as you could be asked about your perspective on these as well.

For the fit interviews, you can expect typical questions like “Why investment banking?” or “Tell me about a time you worked on a challenging project.” You can easily prepare for that by googeling the question types and think of your stories ahead.

Good luck!

Answer 3

Great question! Investment banking interviews are tough, and thorough preparation is key to handling anything that comes your way. Here’s how to structure your approach:

1. Networking

Before the interview, connect with as many people at the firm as possible. Understand what they look for in candidates and build relationships because having internal advocates can make a big difference.

2. Behavioral Questions

Start by perfecting your core three answers:

Tell me about yourself
Why investment banking?
Why this bank?

Beyond that, prepare a set of story-based responses for common behavioral questions using the STAR (Situation, Task, Action, Result) method.

3. Technical Questions

Once you clear the initial behavioral round, strong technical skills are crucial. Start with guides like the 400 Questions Guide to master accounting, valuation, financial modeling, and M&A concepts.

There’s so much more to cover in each of these areas. Let’s set up a free intro session to build a personalized strategy and get you on track for success!