Investment Banking Summer Analyst

Two rounds of interview.

First one was in a hotel in Paris with a single interview with two people (one analyst, one associate). In terms of fit questions, most of the basics were covered (why investment banking ? why GS ? can you tell me about a recent deal we made in the Paris office ?). Technicals were quite standard with a focus on DCF and WACC computation (esp. on where elements of the WACC are found). Great emphasis is put on trying to make candidates explain stuff as concisely and simply as possible to show understanding of key concepts.

Second round consists of two interviews. First one with a VP and an associate with roughly same fit questions (but more challenging, esp. when discussing why to choose IB vs. PE) and focusing on DCF again (in particular on terminal value and normative FCFs calculation across sectors). Second interview was with an MD and a VP with a brainteaser (calculate the average speed of a cyclist, not very difficult, just know you speed = distance / time and don't mess around on calcs and you'll be just fine) and some basic questions about macro and current market trends from the VP (who was from ECM). A lot of time devoted to questions. Offer received 2 days after the final round.