Got a first-round call from Moelis & Company? Here is who runs it, how long it lasts, the technical and behavioral questions bankers have asked, how to prepare and how fast the superday invite comes.
Key facts
- How many: Moelis runs one to two first-round interviews with investment bankers, made up of technical and behavioral assessments. Second-round candidates go on to an onsite final round.1
- Format: A call of about 30 minutes: a virtual one-on-one with an associate in New York (Mar 2025, summer 2026), a 30-minute Zoom with an associate in New York, and phone interviews in Houston and Life Sciences (Dec 2025 and Jan 2026, summer 2027).3,4,5,7
- Who interviews: Most often an associate, sometimes from the group you applied to, as in Life Sciences. A New York generalist first round in January 2026 (summer 2027) was with an executive director, and a full-time analyst round in May 2026 was two associates back to back.3,4,7,6,10
- What they ask: Five technicals in 30 minutes on accounting, merger math, LBO and DCF math and debt (Mar 2025, summer 2026). For summer 2027: short introductions then straight to multiples and EBITDA (Jan 2026), a 50/50 mix in Houston (Dec 2025), and a New York round with an executive director that was mostly behavioral and resume questions (Jan 2026).3,8,5,6
- When: For summer 2027, Houston held first rounds in December 2025, and New York first rounds ran through January 2026, with generalist interviews still going on Friday, Jan 23.5,2
- Next step: New York generalist superday invites went out within about a week of the January 2026 first rounds (summer 2027), one of them hours after the interview.2
Moelis asks you to review its vision and values, know its recent news and transactions, refresh financial statements and valuation methods properly rather than by rote, and practice mock interviews, including market discussions.1
What the Moelis & Company interview looks like
Where it sits
You apply with a one-page resume and complete the Suited assessment. Selected candidates then have one or two first-round interviews with investment bankers, technical and behavioral, and second-round candidates go on to an onsite final round with several senior bankers.1
Who gets one, and when
Offices and groups interview on their own clocks. For summer 2027, Houston held first rounds in December 2025 and New York generalist first rounds ran through January 2026, while applicants for Los Angeles, San Francisco, Chicago, Life Sciences and Capital Markets heard on separate timing. Networking often comes first: conversations with members of the group, or an in-person dinner, before the first round.5,2,7,6
The format
Expect a call of about 30 minutes, by phone or Zoom, usually one on one with an associate. Some first rounds have been with an executive director, and a full-time analyst round was two associates back to back. Moelis says there can be one or two of these before the superday.3,4,5,6,10,1
What they ask
It is usually the more technical step. A New York round fit five technicals into 30 minutes, covering accounting, merger math, LBO math, DCF math and debt; another went from short introductions straight to multiples and EBITDA. Others split evenly between behaviorals and technicals, or leaned on behaviorals and resume questions. Group rounds bring the sector in: Life Sciences asked about biotech DCFs and peak sales.3,8,5,6,7
How to answer
Moelis asks for a true understanding of financial statements and valuation, not memorized answers: know the fundamentals nearly perfectly rather than from a question guide. Explain the mechanism behind each answer, keep behaviorals short and specific, and be authentic: Moelis says it values curiosity, drive and enthusiasm.1,8
After it
Superday invites came within about a week of first rounds in New York for summer 2027. Several processes ran from first round to decision in under a month.2,3,6,7
Before your first round
- A quiet room, your phone charged, and for Zoom: Wi-Fi, lighting, audio and background tested.
- A one-minute answer to "tell me about yourself", and every line of your resume told without looking.
- Minority interest, a debt waterfall and a change in depreciation, each through all three statements.
- EV/EBITDA and the main multiples: what each means and when to use it.
- The main valuation methods ranked from highest to lowest value, with the reason for the order.
- Merger math, a paper LBO and a DCF in round numbers, done out loud.
- One or two recent Moelis transactions you can talk about.
- For a group role, such as Life Sciences: how that sector is valued.
The questions
Moelis says its first rounds hold technical and behavioral assessments. In the dated US rounds the technical side carries most of the time, with group rounds adding sector questions.1,3,8,7
- Technical: Accounting through the three statements, merger math, LBO and DCF math, debt.
- Valuation: Multiples and EBITDA, ranking the valuation methods, judging a company from its financials.
- Behavioral: Tell me about yourself, a time you worked in a team, resume grills.
- Fit and motivation: Why Moelis, why banking and why your office or group.
- Sector: For a group role, how that sector is valued, such as biotech DCFs and peak sales.
Which division question you get
- Generalist, New York (Mar 2025)
- Summer 2026: a virtual one-on-one with an associate, five technicals in 30 minutes on accounting, merger math, LBO math, DCF math and debt. Minority interest on the three statements, and a debt waterfall in a distressed case.3,11
- Generalist, New York
- A 30-minute Zoom with an associate. Tell me about yourself, a time you worked in a team, then valuation and merger model technicals.4
- Generalist, Houston (Dec 2025)
- Summer 2027: a straightforward, standard first round, half behavioral and half technical.5
- Generalist, New York (Jan 2026)
- Summer 2027: after Suited and an in-person dinner, a first round with an executive director; not very technical, with behavioral questions and resume grills.6
- Generalist (Jan 2026)
- Summer 2027: short introductions, then straight to technicals, heavy on multiples and EBITDA.8
- Life Sciences, New York (Jan 2026)
- Summer 2027: a one-on-one with a Life Sciences associate. A simple accounting question, judging a company from a list of its financials, ranking the valuation methods, then biotech DCFs, revenue projections and peak sales.7
- Full-time analyst, New York (May 2026)
- Two associates back to back, purely technical: mental math, valuation methods and LBOs. What does 7x leverage at a tech company tell you about its sensitivity?10,11
- Capital Structure AdvisoryBest guess
- Expect the generalist technicals plus restructuring: a debt waterfall, liquidity and how a distressed balance sheet moves through the statements.
The Capital Structure Advisory line is our best guess from the distressed debt waterfall asked in the March 2025 New York first round (summer 2026).
Example questions and how to answer them
Technical"How does minority interest show up on the three financial statements?"3,11
- 1Say when it arises: you own more than 50% of a company, so you consolidate 100% of it.
- 2Income statement: net income attributable to the minority holders is subtracted to reach net income to the parent.
- 3Balance sheet: minority interest sits in equity, as its own line.
- 4Cash flow and valuation: it is added back in cash flow from operations, and added to enterprise value.
Tip: Asked in a New York first round in March 2025 (summer 2026) that fit five technicals into 30 minutes. Give the answer in four short sentences so the interviewer can move on.
Example answer, written by Intervyo (not a real candidate)
Written by Intervyo as an example. Minority interest, or noncontrolling interest, comes up when a company owns more than half of another company but not all of it. Because it controls the subsidiary, it consolidates 100% of its revenue, costs, assets and liabilities. On the income statement, the share of the subsidiary's net income that belongs to the other owners is subtracted at the bottom, so you get net income attributable to the parent. On the balance sheet, the other owners' stake appears as minority interest within equity. On the cash flow statement, the minority share of net income is added back, since it is already in consolidated cash. In valuation, you add minority interest when you go from equity value to enterprise value, because the consolidated EBITDA includes 100% of the subsidiary.
Valuation"Rank the main valuation methods from highest to lowest value, and say why."7
- 1Name them: precedent transactions, DCF, trading comps, and an LBO as a floor.
- 2Precedents usually come out highest, because they include a control premium.
- 3A DCF can land anywhere, depending on the assumptions; trading comps sit below precedents.
- 4An LBO is usually lowest, because it is what a financial buyer can pay and still hit its return.
Tip: Asked in a Life Sciences first round in New York in January 2026 (summer 2027), right after a simple accounting question. Give the rule, then the exceptions: say when a DCF can top the list.
Example answer, written by Intervyo (not a real candidate)
Written by Intervyo as an example. Usually precedent transactions give the highest value, because the multiples come from deals where buyers paid a premium for control. Trading comps tend to sit below them, since they reflect minority stakes trading day to day. A DCF can be the highest or the lowest, because it depends on the growth, margins and discount rate you assume; for a fast-growing company it is often at the top. An LBO analysis usually gives the lowest value, because it shows what a financial buyer can pay with a set amount of debt and still earn its target return, so it works as a floor. The order can change in hot markets, where trading multiples can run above older precedents.
Behavioral"Tell me about yourself."4,6
- 1Start where you are now: school, major and year.
- 2Take two or three steps in order, one sentence each, each leading to the next.
- 3Say what drew you to banking, in one specific line.
- 4Close on why Moelis and why your office or group, in under a minute.
Tip: Asked in a 30-minute New York Zoom with an associate, before the technicals. A January 2026 first round with an executive director (summer 2027) brought resume grills, so know every line.
Example answer, written by Intervyo (not a real candidate)
Written by Intervyo as an example. I am a junior at the University of Michigan studying economics with a minor in computer science. My interest in finance started with a sophomore class on corporate finance, where I built my first DCF on a regional grocery chain. That led me to join our student investment fund, where I now lead the industrials sector and pitch two companies a semester. Last summer I interned in the corporate development team at a mid-sized manufacturer, where I worked on the screening for a small acquisition, and that is where I saw how much the advisor shapes a deal. That is why I want to start in investment banking, and why a generalist program at Moelis, where summer analysts work across industries and deal types, is where I want to learn it.
Behavioral"Tell me about a time you worked in a team."4
- 1Context: the team, the goal and the deadline, in two sentences.
- 2Action: what you did, in the first person, including one hard moment.
- 3Result: the outcome, with a number if you have one.
- 4Close on what you would bring from it to a deal team.
Tip: Asked in a 30-minute New York Zoom round with an associate. Keep it to about 90 seconds; the technicals still have to fit into the same 30 minutes.
Fit and motivation"Why Moelis?"1
- 1Start with the model: an independent advisory firm with a generalist summer program.
- 2Name one recent Moelis transaction you followed and what interested you about it.
- 3Tie it to you: what you want to learn and why this office or group.
- 4Keep it to a minute and end on the role.
Tip: Moelis tells candidates to review its vision and values and its recent news and transactions, and to be authentic. Use one real deal, not a ranking.
More Moelis & Company interview questions
Technical
“Walk me through a debt waterfall in a distressed case.”3,11
New York generalist first round, Mar 2025 (summer 2026)
“Look at this list of a company's financials: what do you make of the business?”7
Life Sciences first round, New York, Jan 2026 (summer 2027); our wording
“How would you build a DCF for a biotech company, and how do you project revenue and peak sales?”7
Life Sciences first round, New York, Jan 2026 (summer 2027); topics, our wording
“A tech company has 7x leverage. What does that tell you about its sensitivity?”10,11
Full-time analyst first round, New York, May 2026
“Questions on multiples and EBITDA.”8
Generalist first round, Jan 2026 (summer 2027); a topic, not exact wording
Behavioral and fit
“Walk me through your resume, line by line.”6
New York generalist process, Jan 2026 (summer 2027): "resume grills"
“Why Moelis, and why this office or group?”1
A type, from the firm's advice to know its vision, values and recent transactions
“Which recent Moelis transaction would you talk a client through, and why?”
Best guessOur expectation from the firm's advice to follow its recent news and transactions
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How long to hear back after the interview
Moelis moves quickly once first rounds start. Superday invites go out within about a week of the first rounds, and several processes ran from first round to decision in under a month.2,3,6,7
Mar 2025 (summer 2026)
Generalist, New York
A virtual first round with an associate; the whole process took under a month.3
Dec 2025 (summer 2027)
Generalist, Houston
An on-campus route to a phone first round, half behavioral and half technical; under a month in all.5
Jan 2026 (summer 2027)
Generalist, New York
First rounds ran through the month, still going on Friday, Jan 23. One applicant had a first round the week before and saw superday invites go out late that Friday.2
Jan 2026 (summer 2027)
Generalist, New York
Suited, an in-person dinner, a first round with an executive director, then a three-interview superday, all in under a month.6
Jan 2026 (summer 2027)
Life Sciences, New York
Conversations with five members of the group, then a first round with an associate, ending in an offer; under a month in all.7
Feb 2026 (summer 2027)
Generalist, New York
Heavy networking to win a first round, then a three-round superday and an offer; one to two months in all.9
Moelis describes one to two first rounds, so a second call before the superday is normal in some processes; Private Capital Advisory applicants for summer 2027 asked whether a second round came before the superday.1,2
Best guessIf a week passes after a January first round with no superday invite, treat it as a likely no: send your recruiter one short, polite note, and keep your other processes moving.
What happens after the interview
Online application
Done. A one-page resume on the student application website; up to two applications.1
Suited assessment
Done. Behavioral traits and cognitive skills, about 30 minutes, taken once and shared with Moelis.1
First round (one or two)You are here
This page. One or two technical and behavioral calls with investment bankers, often 30 minutes with an associate.1,3,4
Superday
An onsite final round with several senior bankers; three interviews in New York for summer 2027.1,6,9
Offer
New York processes have gone from first round to offer in under a month, as in Life Sciences for summer 2027.4,7
First round vs superday
At Moelis the first round is usually the technical filter: a short call with one banker. The superday is onsite, with senior bankers and more behavioral depth.
Format
An onsite final round with several senior bankers.1
Who
Usually an associate; an executive director in one New York round (Jan 2026, summer 2027).3,4,6
MDs and partners in a New York superday (Jan 2026, summer 2027).6
Content
Three rounds, one technical and two behavioral, with a case study (Feb 2026, summer 2027).9
FAQ
How many first-round interviews does Moelis have?
One or two. Moelis describes one to two first-round interviews with investment bankers, technical and behavioral, before the onsite final round. Most dated US accounts describe one call.1,3,4,5
Is the Moelis first round on the phone or on Zoom?
Either. New York rounds have been virtual one-on-ones and 30-minute Zoom calls with an associate, and Houston and Life Sciences rounds were phone interviews.3,4,5,7
How technical is the Moelis first round?
Usually very. A New York round fit five technicals into 30 minutes, and another went straight to multiples and EBITDA. It depends on the interviewer: a January 2026 round with an executive director (summer 2027) was mostly behavioral and resume questions.3,8,6
Who interviews you in the Moelis first round?
Usually an associate, sometimes from the group you applied to. One New York generalist first round in January 2026 (summer 2027) was with an executive director.3,4,7,6
When do you hear back after a Moelis first round?
Fast. In New York for summer 2027, superday invites went out within about a week of the first rounds, so a week of silence is a bad sign.2
How should I prepare for a Moelis first round?
Moelis says to review its vision and values, know its recent news and transactions, refresh financial statements and valuation methods until you truly understand them, and practice mock interviews. Above all, be authentic.1
Interview at other firms
Sources
Firm pages first, then dated candidate reports. Last checked Nov 9, 2026.
- 1Moelis & Company: Explore Opportunities (interview process and FAQ)
- 2Candidate discussion on a public forum: Moelis SA 2027 (from Dec 2025)
- 3Candidate report on a public forum: Summer Analyst interview, Generalist, New York (Mar 2025)
- 4Candidate report on a public forum: Summer Analyst interview, Generalist, New York (Oct 2025)
- 5Candidate report on a public forum: Summer Analyst interview, Generalist, Houston (Dec 2025)
- 6Candidate report on a public forum: Summer Analyst interview, Generalist, New York (Jan 2026)
- 7Candidate report on a public forum: Summer Analyst interview, Life Sciences, New York (Jan 2026)
- 8Candidate report on a public forum: Summer Analyst interview, Generalist, Ithaca (Jan 2026)
- 9Candidate report on a public forum: Summer Analyst interview, Generalist, New York (Feb 2026)
- 10Candidate report on a public forum: FT analyst interview, Generalist, New York (May 2026)
- 11Candidate reports on a public forum: Moelis & Company Interview Questions (2026)
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