Citi 2028 first-round interview guide

For
2028 summer analysts
Sources
15 cited

Invited to a first round at Citi? Here is the format by program, who interviews you, the technical and fit questions each group asks, and how fast the superday follows.

A student in a gray blazer on a video call at a kitchen table in a small city apartment, the laptop angled away, a mug of tea and a marked-up printed resume beside it, in late afternoon light.
Citi's first interview is one-on-one; in New York investment banking it has been two back-to-back 30-minute interviews.

Key facts

  • What Citi says: If selected, you are invited to a one-on-one interview that goes deeper into your background and how your aspirations align with Citi's.1
  • Format: Two back-to-back 30-minute interviews in New York investment banking (Jan 2026). Capital markets ran two in its first round (Sep 2026, full-time analyst), and Investment Grade Finance two back-to-back phone calls (Oct 2026, analyst role).3,6,7
  • Length: About 30 minutes per interview in investment banking. In the summer 2026 cycle, HR described the New York first round as an hour long.3,9,11
  • Who you meet: An associate set up a Technology IB first round (2025); Investment Grade Finance paired an analyst and an associate (2026). One prep guide adds that VPs sometimes interview.9,7,14
  • How technical: In investment banking, M&A and LBO questions a bit harder than at other bulge brackets, pretty intense for a first round (Feb 2026). Elsewhere behavioral questions have led: fit questions in corporate banking (May 2026), and mostly behavioral with standard technicals for a New York generalist (Mar 2026).10,8,4
  • Corporate Banking: Corporate banking in New York ran a first round on why Citi, why corporate banking and why this group, then a second round before the superday (May 2026, summer analyst).4,13
  • When: For summer 2027, investment banking first rounds were running in early February 2026 and still going on Mar 9. Superdays rolled one to two weeks after.10
  • Early ID: Early ID is a three-week virtual program for US sophomores that prepares you for the summer program. One New York participant was invited to a first round by the end of it (Jan 2026).2,3

Technology postings for summer 2027 ask for the ability to pass technical interviews of basic algorithmic programming exercises. Services in New York ran two behavioral one-on-ones before its superday (Oct 2025).15,5

What the Citi interview looks like

  1. Before the first round

    You apply on Workday. Global Services and Technology programs add a skills evaluation first. Early ID participants can be invited to a first round by the end of the program, and some applicants come in through their school.1,3,8

  2. The invite

    If you are selected, Citi invites you to a one-on-one interview. For summer 2027, investment banking first rounds were running in early February 2026 and still going on Mar 9, while corporate banking and capital markets were recruiting on campus in the first week of February.1,10,12

  3. The format

    In New York investment banking it was two back-to-back 30-minute interviews: the first mixed behavioral and technical, the second on personality and resume questions, checking for anything overstated. In the summer 2026 cycle, HR described an hour-long first round with heavy behavioral emphasis plus baseline technicals and industry knowledge.3,11

  4. Who you meet

    Expect an analyst or an associate: an associate scheduled a 30-minute Technology IB first round, and Investment Grade Finance paired an analyst and an associate. One prep guide says interviewers volunteer for first-round slots and prepare their own questions, so styles range from relaxed to fast technical.9,7,14

  5. What they ask

    Investment banking first rounds in February 2026 asked M&A and LBO questions a bit harder than other bulge brackets. Corporate banking asked why Citi, why corporate banking and why this group. A Technology IB first round spent most of its time on a prior internship, down to the sections of a CIM.10,4,9,13

  6. How it is scored

    One prep guide, quoting a Citi IB interviewer, describes six categories scored 1 to 5: your background, business sense, technicals, leadership, knowledge of Citi and the questions you ask. Two of those depend only on preparation.14

  7. After you pass

    In investment banking, superdays rolled one to two weeks after first rounds (Feb 2026). Corporate banking added a second round first. Services went to a two-hour superday with a case study.10,4,5

The first round, by program

Investment Banking, New York (Jan 2026) 2 x 30 min
Back to back: behavioral and technical, then personality and resume.
Corporate Banking, New York (May 2026) 2 rounds
A fit-focused first round, then a second round before the superday.
Services, New York (Oct 2025) 2 one-on-ones
Behavioral; the process also included a personality test.
Capital Markets, New York (Sep 2026, full-time) 2 interviews
One technical, one behavioral.
Investment Grade Finance, New York (Oct 2026, analyst role) 2 phone calls
An analyst and an associate, back to back; the only round the review describes.

Citi's own line is a one-on-one first interview. In practice most programs ran two short interviews before the superday, back to back in one round or as two separate rounds, as each row shows with the month it ran.1,3,4,5,6,7

Before your first round

  • Tell me about yourself and why Citi, about two minutes, pointed at the group.
  • M&A and LBO basics out loud: a paper LBO, accretion and dilution from P/E ratios.
  • The three statements and how they link, with one depreciation example.
  • Every line of your resume, ready for a round that checks it for overstatement.
  • For corporate banking: why the group, and how you use AI and manage your time.
  • Two or three questions about the group's recent deals, not about culture.
  • A quiet room and a charged phone or tested video link.

The questions

Citi says the first interview goes into your background and how your goals fit Citi. Interviewers choose their own questions, so expect fit and behavioral questions everywhere, and technicals that run harder in investment banking.1,14,10

  • Fit and motivation: Tell me about yourself, why Citi, why this business and why this group.
  • Behavioral and leadership: A time you failed, a time you led a group, how you prioritize your time.
  • Technical: Paper LBOs, accretion and dilution, the three statements, WACC.
  • Resume deep dive: Your internship in detail, checked for anything overstated.
  • Markets: Current rates and where they go, for capital markets roles.

Which division question you get

Investment Banking, New York
Jan 2026 (summer 2027): two back-to-back 30-minute interviews, the first mixed behavioral and technical, the second personality and resume.3
Investment Banking, US
Feb 2026 (summer 2027): M&A and LBO technicals, a bit harder than at other bulge brackets.10
Corporate Banking, New York
May 2026 (summer analyst): first round on why Citi, why corporate banking, tell me about yourself and why this group; second round on how you use AI and how you prioritize your time.4,13
Services, New York
Oct 2025 (summer analyst): two behavioral one-on-ones; knowing the businesses Services is made of helps you stand out.5,13
Capital Markets (full-time analyst)
New York (Sep 2026): two interviews, one technical and one behavioral, simple and conversational.6
Investment Grade Finance (analyst role)
New York (Oct 2026): two back-to-back phone calls with an analyst and an associate, mostly behavioral, with a question on current rates.7,13
Technology IB (analyst role)
San Francisco (Jan 2025): a 30-minute first round with an associate; tell me about yourself, why banking, an easy accounting question and a CIM from a prior internship.9,13
Technology
Summer 2027 postings: technical interviews of basic algorithmic programming exercises.15
Sales and TradingBest guess
Expect why markets, a market you follow and how you think under pressure.

The Sales and Trading line is our best guess from the capital markets and Investment Grade Finance questions above.

Example questions and how to answer them

Fit and motivation"Tell me about yourself, and why Citi?"14,4
  1. 1One line on where you are now: school, major and year.
  2. 2Two experiences that led you to this group, one sentence each on what you did.
  3. 3One reason that is specific to Citi, such as its global network or a group's recent work.
  4. 4Close on why this group is the next step.

Tip: The opener on a Citi IB interviewer's list in one prep guide; corporate banking asked why Citi and tell me about yourself in its first round (May 2026). Keep it to about two minutes.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. I'm a sophomore at Georgetown studying finance. Last summer I interned at a regional bank's commercial lending team, where I spread financials for mid-sized borrowers and saw how a loan decision depends on cash flow, not just the balance sheet. This year I run the credit pitch team in our investment club. I want corporate banking at Citi because its clients operate across dozens of countries, so the work covers lending, cash management and markets together, and the group I ranked first covers the industrial companies I have been following in class.

Technical"Walk me through a paper LBO."14,10
  1. 1Entry: EBITDA times the entry multiple is the price; split it into debt and equity.
  2. 2Hold: grow EBITDA and add up the cash that pays down debt.
  3. 3Exit: exit EBITDA times the exit multiple, minus the debt left, is the equity value.
  4. 4Returns: exit equity over entry equity, then a rough IRR.

Tip: On a Citi IB interviewer's list, and LBO questions came up in summer 2027 first rounds (Feb 2026). Use round numbers and say each step out loud.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example, with round numbers. A company makes $50 million of EBITDA and we buy it at 8 times, so $400 million, with $240 million of debt and $160 million of equity. Over five years EBITDA grows to $70 million and cash flow pays down $100 million of debt, leaving $140 million. At the same 8 times, the company is worth $560 million; minus $140 million of debt, equity is $420 million. That is about 2.6 times our $160 million, an IRR of roughly 21 percent, mostly from EBITDA growth and paying down debt.

Technical"Company A acquires Company B. Given both P/E ratios, is the deal accretive or dilutive?"14
  1. 1Assume an all-stock deal unless told otherwise.
  2. 2Rule of thumb: if the buyer's P/E is higher than the price paid for the target's earnings, it is accretive.
  3. 3Explain why: the buyer issues shares worth more per dollar of earnings than the earnings it buys.
  4. 4Add the caveats: synergies, a premium and the cost of cash or debt change the answer.

Tip: From the same interviewer's list. Ask whether it is stock, cash or debt before you answer.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. If it is an all-stock deal, I compare P/E ratios. Say Company A trades at 20 times earnings and buys Company B at 15 times. A is issuing stock that the market values at 20 times its earnings to buy earnings at 15 times, so each new share brings in more earnings than A's existing shares earn, and the deal is accretive to A's earnings per share. If B cost more than 20 times, it would be dilutive. With cash or debt, I would compare the after-tax cost of that funding with B's earnings yield instead.

Technical"How would you value your school's most popular food truck? What assumptions would you make?"3,13
  1. 1Say your method first: the cash it makes, then a multiple or a simple DCF.
  2. 2Build revenue: customers a day, times average ticket, times days open a year.
  3. 3Take off costs: food, staff, fuel and permits, to get to profit.
  4. 4Value it: a modest multiple of profit for a small, risky business, and say what would move it.

Tip: The unexpected question in a New York investment banking process (Jan 2026, summer 2027), where the review does not say which round asked it. State every assumption out loud.

Resume deep dive"Walk me through a CIM you worked on: its sections and your part in it."9,13
  1. 1Name the deal type and the company, as far as you can share.
  2. 2List the main sections: executive summary, business overview, industry, financials, investment highlights.
  3. 3Say exactly what you built, and with which tools or databases.
  4. 4Close on one thing you learned that you would use at Citi.

Tip: A San Francisco Technology IB first round (Jan 2025, analyst role) spent most of its time on a prior internship, down to the CIM. Anything on your resume can get this treatment.

Behavioral and leadership"How do you use AI?"4
  1. 1Give one concrete use, not a list of tools.
  2. 2Say how you check its output: what you verify, and against what.
  3. 3Name one thing you would not hand to it.
  4. 4Tie it to the job: speed on first drafts, judgment staying with you.

Tip: Asked in a New York corporate banking second round (May 2026). A specific example with a check you run beats enthusiasm.

Example answer, written by Intervyo (not a real candidate)

Written by Intervyo as an example. Mostly for first drafts. When I research a company for our club, I ask an AI tool to summarize the last two earnings calls, then I check every number it gives me against the filings, because it has been wrong on segment figures before. It saves me about an hour per company. I would not use it for the judgment itself: whether a borrower can repay is a call I want to make from the numbers myself.

More Citi interview questions

Fit and motivation

  • “Why corporate banking, and why this group?”4

    Corporate Banking, New York, May 2026, first round

  • “Why investment banking?”9,13

    Technology IB, San Francisco, Jan 2025 (analyst role)

Behavioral and leadership

  • “Tell me about a time you failed, and a time you had to lead a group.”14

    From a Citi IB interviewer's list in a prep guide

  • “How do you prioritize your time?”4

    Corporate Banking, New York, May 2026, second round

Technical

  • “Walk me through the three financial statements and how they link together.”14

  • “A company buys a factory this year. Given its depreciation schedule, walk me through how each statement looks three years out.”14

  • “What is WACC? Walk me through your resume.”8,13

    Generalist, New York, Mar 2026; round not stated

  • “An easy accounting question on accounts receivable.”9,13

    Technology IB, San Francisco, Jan 2025; our paraphrase

Markets

  • “What do you know about current rates, and how do you see AI shaping where they go?”7,13

    Investment Grade Finance, New York, Oct 2026; our paraphrase

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How long to hear back after the interview

In investment banking, superdays roll one to two weeks after first rounds. Other programs add a round or run on their own clock.10,4

  1. Jan 2025 (analyst role)

    Technology IB, San Francisco

    Contacted by an associate to schedule a 30-minute first round after applying online; one to two months in all.9

  2. Jan 2026 (summer 2027)

    Investment Banking, New York (Early ID)

    Invited to a first round by the end of Early ID, then a superday of three; one to two months in all.3

  3. Jan 2026 (summer 2027)

    Corporate Banking and Capital Markets

    On-campus recruiting in the first week of February, while investment banking looked to be wrapping up.12

  4. Feb 2026 (summer 2027)

    Investment Banking, US

    Told after a first round that superdays would roll in one to two weeks.10

  5. Mar 2026 (summer 2027)

    Investment Banking, US

    First rounds still running on Mar 9.10

  6. May 2026 (summer analyst)

    Corporate Banking, New York

    First round, second round and superday, then an accepted offer, all in less than a month.4

Some programs add a second round before the superday, so another interview invite is a good sign, not a repeat.4

Best guessIf two weeks pass after an investment banking first round with no news, send your recruiter one short, polite email and keep your other processes moving.

What happens after the interview

  1. Online application

    A resume on Workday, with a Citi-specific account. Early ID registers on Eightfold.1

  2. Skills evaluation (Services and Technology)

    A skills discovery survey for global Services programs, or a coding assessment for Technology.1

  3. First interviewYou are here

    This page. A one-on-one interview; in New York investment banking, two back-to-back 30-minute interviews.1,3

  4. Superday

    Multiple interviews, an assessment or a case study, depending on the program; three back-to-back 30-minute interviews in New York investment banking.1,3

  5. Offer

    Citi reaches out with an offer, and your recruiter takes you through the details.1

Investment banking vs other programs

Most Citi programs run two short interviews before the superday. Investment banking leans technical from the start; other programs lean on fit and add rounds.

Format

Investment banking

Two back-to-back 30-minute interviews (New York, Jan 2026).3

Corporate banking, Services and capital markets

Corporate banking: a first and a second round. Services: two behavioral one-on-ones.4,5

Content

Investment banking

Behavioral and technical, then personality and resume; M&A and LBO questions.3,10

Corporate banking, Services and capital markets

Why Citi, why the business, why the group; capital markets added one technical interview.4,6

Who

Investment banking

An associate set up a Technology IB first round (analyst role).9

Corporate banking, Services and capital markets

An analyst and an associate in Investment Grade Finance (analyst role).7

Next

Investment banking

A superday one to two weeks later.10

Corporate banking, Services and capital markets

Corporate banking: a second round, then the superday. Services: a two-hour superday with a case.4,5

2028 summer analyst status

For summer 2027, the New York investment banking application opened for about three days in December 2025, announced only to Early ID participants, and first rounds ran from early February into March 2026. Early ID's December cohort takes applications in November, so expect summer 2028 first rounds from early 2027.10,2

FAQ

What is the Citi first-round interview?

Citi's third step: a one-on-one interview on your background and how your goals fit Citi. In New York investment banking it has been two back-to-back 30-minute interviews.1,3

How long is the Citi first round?

About 30 minutes per interview in investment banking, often two back to back. In the summer 2026 cycle, HR described the New York first round as an hour long.3,9,11

Is the Citi first round technical?

In investment banking, yes, and more than most: first rounds in February 2026 asked M&A and LBO questions a bit harder than at other bulge brackets. Corporate banking and Services lean on fit and behavioral questions.10,4,5

Who interviews you in the Citi first round?

Usually an analyst or an associate. An associate set up a Technology IB first round in San Francisco, and Investment Grade Finance paired an analyst and an associate. One prep guide adds that VPs sometimes take first rounds.9,7,14

Is there a second round before the Citi superday?

In some programs. Corporate banking in New York ran a first round, a second round and then the superday (May 2026). New York investment banking went from the first round straight to the superday (Jan 2026).4,3

When do you hear back after a Citi first round?

In investment banking, superdays rolled one to two weeks after first rounds (Feb 2026). Corporate banking in New York ran from first round to offer in under a month.10,4

Does Early ID get you a first round?

It can get you there sooner. Early ID prepares US sophomores for the summer program, and one New York participant was invited to a first round by the end of it (Jan 2026).2,3

Interview at other firms

Sources

Firm pages first, then dated candidate reports. Last checked Nov 4, 2026.

  1. 1Citi: Early Career (application process)
  2. 2Citi: Pre-Internships (Early Identification)
  3. 3Candidate report on a public forum: Summer Analyst interview, Investment Banking, New York (Jan 2026)
  4. 4Candidate report on a public forum: Summer Analyst interview, Corporate Banking, New York (May 2026)
  5. 5Candidate report on a public forum: Services Summer Analyst interview, Corporate Finance, New York (Oct 2025)
  6. 6Candidate report on a public forum: Analyst interview, Capital Markets, New York (Sep 2026)
  7. 7Candidate report on a public forum: Capital Markets Analyst interview, Investment Grade Finance, New York (Oct 2026)
  8. 8Candidate report on a public forum: Intern interview, Generalist, New York (Mar 2026)
  9. 9Candidate report on a public forum: Technology Investment Banking Analyst interview, San Francisco (Jan 2025)
  10. 10Candidate discussion on a public forum: Citi SA 2027 - multiple roles? (Dec 2025 to Mar 2026)
  11. 11Candidate discussion on a public forum: CITI SA 2026 MEGATHREAD (Jan to Apr 2025)
  12. 12Candidate discussion on a public forum: Citibank SA 2027 - Ongoing - Hirevue? (Jan 2026)
  13. 13Candidate reports on a public forum: Citigroup Interview Questions (listing, page 1, Nov 2026)
  14. 14Aced: Citigroup Investment Banking (IB) Summer Analyst Interview Guide · prep site
  15. 15Citi (Workday): Technology, Application Development, Summer Analyst, New York or New Jersey - USA, 2027

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