Behavioural interview questions

a good answer hits

1. 01States the desire to work on transactions from start to finish.
2. 02Contrasts investment banking with previous roles where they only saw isolated parts of a deal.
3. 03Emphasizes the goal of gaining extensive transaction experience by working on many different deals over time.

common mistakes

• Giving generic answers about learning or financial modeling without mentioning transaction depth.
• Failing to contrast the role with previous experiences or isolated deal parts.

a good answer hits

1. 01An investment banking analyst's day-to-day work largely consists of supporting senior bankers with tasks like financial modeling, preparing pitch books, and conducting market research.
2. 02Attention to detail and auditability are crucial, as analysts must ensure all data is flawless before it reaches clients.
3. 03Additionally, the role involves managing administrative tasks, coordinating with different teams, and carefully managing workload to meet tight deadlines.

common mistakes

• Describing only the glamorous parts and omitting the administrative and formatting work.
• Overstating the analyst's autonomy or client exposure.
• Missing that accuracy and auditability, not speed alone, are what the job is judged on.

a good answer hits

1. 01Names the breadth of skills required: M&A, valuation, credit analysis and legal interpretation together.
2. 02Contrasts the binary outcome of a standard M&A process with the wider range of possible outcomes in a restructuring.
3. 03Mentions that the work is live-deal driven with intense negotiation rather than pitch-heavy.
4. 04Notes that advising both debtors and creditors gives a rounded view of a distressed business.

common mistakes

• Giving reasons that would apply equally to any product group, with nothing specific to restructuring.
• Framing the appeal as counter-cyclicality alone, which reads as wanting a job rather than the work.
• Failing to mention the credit and legal dimension that distinguishes it from M&A.

a good answer hits

1. 01Structures the response chronologically into four key parts.
2. 02Begins with initial background, such as university and hometown.
3. 03Identifies a specific spark or event that generated interest in finance.
4. 04Highlights relevant internships and skills developed to show growing interest.
5. 05Concludes by explaining why they are interviewing at this specific firm today.

common mistakes

• Failing to structure the response chronologically.
• Omitting the specific spark or event that led to an interest in finance.
• Not connecting the final part of the response to the specific firm being interviewed at.

a good answer hits

1. 01Expresses a strong interest in working on deals within a specific industry over the medium term (for analyst level).
2. 02Emphasizes a desire to remain in a finance-related role connected to that sector while keeping future options open.
3. 03States a complete commitment to building a long-term career within investment banking (for associate roles).

common mistakes

• Explicitly stating a desire to exit to private equity or hedge funds within two years.
• Failing to differentiate the response based on the level (analyst vs. associate) they are applying for.

a good answer hits

1. 01Explains that interest in investment banking developed too late to secure the necessary sequence of internships.
2. 02Describes strategically choosing post-graduation roles in related fields like accounting or valuation.
3. 03Highlights how these related roles built relevant skills.
4. 04Concludes by showing how these experiences prepare them to transition into banking now.

common mistakes

• Sounding defensive or making excuses for not getting into banking earlier.
• Failing to frame post-graduation roles as strategic choices to build relevant skills.

a good answer hits

1. 01Mentions specific bankers at the firm they have spoken or networked with.
2. 02References a recent transaction or market strategy of the firm.
3. 03Avoids generic reasons such as firm culture or client interaction.

common mistakes

• Using generic reasons like culture or people that could apply to any competitor.
• Failing to mention specific networking contacts or recent deals.

a good answer hits

1. 01Presents two to three strengths, such as work ethic and quantitative skills.
2. 02Backs up strengths with a brief story of delivering under pressure.
3. 03Shares genuine weaknesses, such as taking too long to make decisions or hesitating to speak up.
4. 04Illustrates weaknesses with a concise example of a past setback.
5. 05Closes each weakness with the concrete step being taken to address it.
6. 06Keeps the whole answer under a minute.

common mistakes

• Giving fake weaknesses like being a perfectionist.
• Naming a weakness with no remedy attached, or dwelling on the fix until it crowds out the rest of the answer.
• Failing to provide a brief story of delivering under pressure for strengths.

a good answer hits

1. 01outlines the background of the companies involved in the transaction
2. 02explains the strategic motivation behind the transaction
3. 03details specific analytical tasks or personal contributions made during the deal
4. 04states the financial metrics, such as deal value, and the current status of the deal

common mistakes

• failing to specify their personal contribution to the deal
• not providing concrete financial metrics or deal value

a good answer hits

1. 01Describes a specific situation involving an unethical shortcut proposed by a team member.
2. 02Explains how they voiced concerns and lobbied for an honest approach.
3. 03Offers to take on extra work to ensure the project was completed ethically.
4. 04Emphasizes that maintaining integrity was more important than taking the easy way out.

common mistakes

• Describing a situation that does not actually involve an ethical dilemma.
• Sounding overly preachy or self-righteous when describing the conflict.
• Failing to show active steps taken to resolve the issue ethically.

a good answer hits

1. 01Describes a specific leadership challenge involving team guidance or conflict.
2. 02Details the concrete actions taken to resolve the issue or conflict.
3. 03Explains how they motivated the team during the difficult situation.
4. 04States the final outcome and how the project's goals were achieved.

common mistakes

• Focusing too much on the problem rather than the actions taken to resolve it.
• Failing to demonstrate actual leadership or motivation of others.

a good answer hits

1. 01Uses the STAR framework (Situation, Task, Action, Result) to structure the response.
2. 02Describes a scenario involving collaboration with others under a tight deadline.
3. 03Highlights taking initiative to handle a heavy workload.
4. 04Quantifies a positive, measurable outcome of the project.
5. 05Keeps the response concise and under sixty seconds.

common mistakes

• Failing to structure the story using the STAR framework.
• Speaking for too long without focusing on key details.
• Failing to mention a clear, measurable outcome.

a good answer hits

1. 01Discusses a genuine failure rather than a disguised success.
2. 02Explains the specific difficulties faced, such as balancing execution with oversight or motivating team members.
3. 03Concludes with a clear, actionable lesson learned from the experience.
4. 04Mentions the importance of partnering with others to share management responsibilities.

common mistakes

• Sharing a fake failure where the candidate was not actually at fault.
• Blaming other team members without taking personal responsibility.
• Failing to articulate a clear lesson learned from the failure.

a good answer hits

1. 01states that the transaction successfully closed earlier this year
2. 02mentions that the deal closed following shareholder approval
3. 03specifies that the acquisition was funded using $3.2 billion of Senior Debt and $4.8 billion of Equity

common mistakes

• failing to state the exact debt and equity breakdown used to fund the transaction
• not knowing whether the deal has officially closed or is still pending

a good answer hits

1. 01states a specific numerical value for their personal Beta, ideally slightly above 1.0
2. 02explains how this value represents a willingness to take calculated risks and pursue ambitious goals
3. 03balances the risk-taking aspect by mentioning a grounding factor, such as working at established institutions

common mistakes

• stating a Beta below 1.0, which implies being overly risk-averse and lacking ambition
• stating an extremely high Beta without explaining how they mitigate or balance that risk

a good answer hits

1. 01allocates a small portion of the money to a personal luxury or hobby
2. 02allocates the majority of the funds to a project or initiative that benefits others
3. 03explicitly avoids any investment, business venture, or action designed to generate a financial return

common mistakes

• violating the prompt's constraint by investing the money or starting a for-profit business
• spending the entire sum purely on selfish luxuries without showing any broader interest or social impact

a good answer hits

1. 01shares a unique personal experience or background detail not found on the resume
2. 02explains how this experience demonstrates adaptability or a positive personal trait
3. 03avoids sharing inappropriate, overly sensitive, or unprofessional personal details

common mistakes

• repeating an experience or bullet point that is already clearly listed on the resume
• sharing over-disclosing or highly unprofessional personal information

a good answer hits

1. 01provides a specific, creative newspaper headline reflecting high ambition
2. 02describes a story where career success is leveraged to fund or achieve a major, positive long-term goal
3. 03keeps the scenario ambitious yet grounded enough to be plausible rather than entirely fantastical

common mistakes

• giving a generic or uninspired headline like 'Local Banker Retires'
• describing a purely self-serving achievement without broader impact or vision

a good answer hits

1. 01selects a specific animal and explains the choice with humor or personality
2. 02connects the animal's traits to professional qualities useful in investment banking, such as teamwork or high energy
3. 03avoids cliché or aggressive animals that might imply a difficult working style

common mistakes

• choosing an animal like a sloth or koala that implies laziness or low energy
• choosing an overly aggressive animal like a shark, which can signal a lack of teamwork