Behavioral / Competency interview
Format. 1-on-1 or 2-on-1 (Associate plus VP)
Duration. 30-45 minutes
Panel. Mid-level practitioners who will oversee your daily work
Assessed on. Emotional intelligence, alignment with cultural pillars (excellence, teamwork, client service, citizenship), resilience and concise narrative.
Common failure modes. Generic over-polished answers, unquantified results, collective "we" without your contribution, or arrogance.
Tactical advice. Use STAR-L (add Lessons Learned); make Action at least 60% of your talking time and highlight coachability.
Technical interview
Format. 1-on-1 or 2-on-1 with rigorous VPs or Directors
Duration. 30-45 minutes
Assessed on. Three-statement linkage, valuation (DCF, comps, precedents), capital structure theory and current macro factors.
Common failure modes. Rote memorization without intuition, guessing when stuck, or falling apart on a twist to a standard question.
Tactical advice. Speak out loud: "Let me break this into components. First the balance sheet, then the cash flows." It lets the interviewer redirect you.
Modeling exercise (IB / GBM)
Format. Paper-and-pencil or live Excel conceptual drill
Duration. 20-30 minutes within a slot
Panel. A VP or senior Associate
Assessed on. Mental math, intuitive grasp of formulas and building a quick model or returns profile without templates.
Common failure modes. Overcomplicating the math, not explaining assumptions aloud, losing basic arithmetic, or failing to link output to a decision.
Tactical advice. Round numbers to keep calculations clean and conclude with a definitive thesis (e.g. "cash-on-cash sub-15%, so unviable for a sponsor").
Case interview (Strategy / AWM / Wealth)
Format. Interactive corporate business case
Duration. 45 minutes
Panel. An MD or senior VP
Assessed on. Macro awareness, structured strategic thinking, asset allocation and synthesizing messy data into a recommendation.
Common failure modes. Jumping to a conclusion with no framework, ignoring qualitative risk, or failing to take a definitive stance.
Tactical advice. Take 60 seconds to map a framework, then work through Financial Viability, Strategic Fit and Execution/Macro Risks before a risk-adjusted conclusion.
Partner / Senior MD interview
Format. 1-on-1
Duration. 30 minutes
Panel. A Partner or highly senior MD
Assessed on. Executive presence, maturity, big-picture commercial awareness and the "airport test".
Common failure modes. Reverting to rehearsed technical scripts, lacking a macro perspective, appearing timid, or asking unsophisticated questions.
Tactical advice. Elevate your perspective: they assume you can do the math, so show genuine intellectual curiosity about the business.
Analyst lunch / coffee chat
Format. Informal group lunch or 1-on-1 social
Duration. 15-60 minutes
Panel. 2-4 current first- and second-year analysts
Assessed on. Authenticity, humility, social intelligence and cultural fit.
Common failure modes. Dropping your guard, dominating the conversation, asking about comp or lifestyle, or disrespecting staff.
Tactical advice. Treat it as semi-evaluated: analysts cannot hire you but can veto you to HCM. Be a supportive peer and ask thoughtful questions.