What I Wish I Knew Before Preparing for Investment Banking Interviews
I've been reading through a lot of advice from people working in investment banking and equity research, and one thing keeps coming up: technical knowledge matters, but your preparation process matters just as much.
Here are a few lessons or hot takes (based on personal experience) that seem to make the biggest difference:
- Know your accounting basics.
Understanding how the three financial statements connect is more important than memorizing every valuation formula.
- Don't neglect behavioral questions.
Many candidates focus entirely on technicals but struggle to explain why they want to work in finance or discuss past experiences clearly.
- Stay informed about the markets.
Interviewers often ask about recent deals, interest rates, or industries you're interested in following.
- Practice explaining your thought process.
Even if you don't know the perfect answer, demonstrating logical reasoning can leave a stronger impression than guessing.
- Consistency beats cramming.
Studying an hour or two each day over several weeks seems much more effective than trying to learn everything right before interviews.
For those already working in sell-side roles, I want to know:
- What's one piece of advice you wish someone had given you before your first interview?
- Any resources you'd recommend for technical preparation?
I'd love to hear different perspectives!