Summer Analyst

First round was 30 minutes on the phone with an Analyst. Round consisted of basic valuation technicals (i.e. walk through a DCF, brief run-through of comps and precedents, and basic accounting questions), as well as "Why Lincoln?" and "Why Middle Market?". Overall, Round 1 was focused on technicals.

Second round was 30 minutes on the phone with the recruiting manager. Round consisted of walking through my experiences and how they would be transferrable to the role of an IB Analyst, as well as gauging my understanding of IB as a whole. Questions included "What does an Analyst do on a daily basis?" and "Strengths/Weaknesses?". Also included were a few technicals, but less focused on valuation, and more focused on accounting/financial analysis (i.e. "If you could choose one financial statement to evaluate a company, what would it be and why?"). Again, you'll get "Why Lincoln?" and "Why Middle-Market?".

Overall, fit is most important and there won't be anything too technical. Stick to the guides for tech prep and do your best to generate a good answer for "Why Lincoln?".