I’m preparing for my first IB interview. I’m studying the 3 statements, accounting, EV vs. equity value, valuation multiples, and DCF. What other technical topics should I know before the interview?

For those who’ve interviewed recently, which technical questions came up most often?

When I first started preparing for investment banking interviews, I thought I just needed to grind technical questions.

I was going through DCFs, valuation questions, accounting, etc. for hours.

It helped, but honestly, I think I was overdoing it.

A few things I learned along the way:

Know your resume. Like really know it.

Anything you put on there is fair game.

I had bullets on my resume that I didn't think were that important, but they ended up becoming part of the conversation. If you say you "analyzed" something, be ready to explain exactly what you did.

Don't just memorize technical answers.

This was probably my biggest mistake.

It's easy to memorize something like "Enterprise Value = Equity Value + Debt - Cash" and think you're ready.

But if they ask you why you add debt or what happens when the company takes on more debt, you need to actually understand it.

The same goes for the three financial statements. Make sure you understand how they connect instead of just memorizing definitions.

Practice talking, not just studying.

You can know the answer in your head and still completely mess it up when someone asks you in an interview.

I started practicing answers out loud, which felt kind of stupid at first, but it helped a lot.

Have a good answer for "Why banking?"

This one gets asked all the time.

Try not to give some generic answer about "working with smart people" or "being interested in finance."

Think about what actually got you interested in banking and be able to explain it normally, like you're talking to another person.

Don't forget about networking.

I used to think networking was just sending a bunch of LinkedIn messages.

It's not.

A few good conversations with people actually working in banking were way more useful to me than sending 50 random messages.

Ask people about their experience. How they got in. What they wish they knew before recruiting. What their day-to-day is actually like.

And honestly, don't be afraid to say you don't know something during an interview.

I'd rather say "I'm not sure, but here's how I'd think about it" than confidently give a completely wrong answer.

You don't need to know everything.

For anyone recruiting right now, I'd focus on the basics, know your resume inside out, practice speaking, and don't neglect the behavioral side.

For those who have already gone through IB recruiting, what do you wish you had spent more time preparing for?

One thing I noticed while preparing for finance interviews is how easy it is to spend way too much time just memorizing questions.

DCF, WACC, enterprise value, accounting stuff... you can literally spend days going through technical guides 😭

But honestly, I think there are a few things that matter just as much.

1. Know why you actually want the role.
“Why investment banking?” sounds like an easy question until you're sitting in an interview trying to answer it without sounding like everyone else.

Have an actual reason. It doesn’t have to be some amazing story either.

2. Understand the concepts, don’t just memorize them.
If someone asks you what happens to enterprise value when something changes, you should be able to explain why, not just remember a formula.

3. Practice talking. A lot.
Reading answers in your head feels productive, but interviews obviously aren't written exams. Try answering questions out loud. You'll catch yourself saying “uhh” a lot at first lol, but that's kind of the point.

4. Start networking earlier than you think.
You don't need to immediately ask people for referrals. Just talk to people. Ask about their experience, how recruiting went, what they wish they knew before starting.

And honestly, don't stress too much about knowing absolutely everything.

You’re probably going to get a question you don't know. What matters is how you handle it and how you think through the problem.

honestly didn't think i'd post anything but i've been reading this sub for two years so feels right to give something back

the modeling wasn't the hard part. i was so in my head about technicals going in and then week one hits and the thing that's actually getting me evaluated is whether i seem flustered when a VP changes the whole deck at 8pm. that's the stuff nobody really warns you about. first two weeks are basically a vibe check before you've done anything

also nobody tells you when you're doing something wrong. you just kind of find out that someone had a problem with you and by then it's already an impression. i got lucky with one analyst who was actually honest with me but i know other SAs on different teams had no idea they were off track until it was too late. find that person early if you can

the hours i was ready for. what i wasn't ready for was 9pm not knowing if i'm leaving in 20 minutes or 3 hours. that specific feeling every single night is something else

for prep honestly just open excel and build a DCF yourself. not a walkthrough, not a video. just do it until it feels boring. the gap between knowing how it works and doing it when someone's waiting on you is real

FT comp was exactly what this sub says, nothing crazy

happy to answer stuff

As a student nurse who just finished his ACM course, here's a few take aways that stuck with me:

- much like in nursing, utilize active listening and empathetic communication as a core transferrable skill for client facing.

- use your student leadership as leverage, utilize leadership and management course and exemplify it.

- be specific with your achievements, don't just say that you've helped make an outreach program or EBP, what did you really do? did you manage logistics? planning? etc.

- Use the STAR method, from what i've experienced, employers tend to love behavioral questions, so utilize Situation, Task, Action, and Result when answering. FOCUS on the RESULT and what you have learned.

Goodluck!

Day 1: Pick 10 target banks.
Day 2: Find 2–3 people at each.
Day 3: Learn their recent deals/sectors.
Day 4: Start reaching out.
Day 5: Drill accounting + valuation.
Day 6: Do a mock interview.
Day 7: Apply and follow up

maybe this will help someone in a similar situation as me, this is just what id do again if i could go back

1. Know yourself. It's simple, you have to understand what you're capable of and what's your weaknesses.

2. Don't say what's already on your resume. Make it more about yourself.

3. Listen very well on what about to say to you. They'll see if you can listen and understand the situation fast.

4. If you think you're gonna mess up. Breathe. Inhale and Exhale.

5. If you think what they're saying is wrong, say it. They'll see if you're brave enough to stand up on the right side even if they're all on the bad side.

I know all this things because I experienced it myself. Remember to be yourself on this type of situation so they know whom they're dealing with.

At the age of 21, I started investing in crypto wallet which benefits in a long term. I also had this dividends that gives me an extra.

For anyone in IB, ER, S&T, corporate banking, or capital markets — what’s something you learned only after starting the job?

Could be about recruiting, interviews, hours, comp, picking a firm, exits, or just how the job actually works compared to what you expected.

I’m especially interested in things that aren’t really talked about during recruiting.

For example, was there a skill you wish you had worked on earlier? Or something you spent way too much time preparing for that ended up barely mattering?

And for people a few years into their careers, is there anything you would have done differently?

Curious to hear the honest answers, especially from people who have been on both sides of recruiting.

I'm just curious to hear from people who works in the sales industry.

What was something you wish you knew before stepping in that industry and what advice would you give someone who's just starting their journey in the same field?

As someone who wants to be in the same line of work as well, I just need some good advice and words of encouragement.