Investment Banking Interview Success.

The most comprehensive, trusted and best preparation for investment banking interviews in the world. Over 20,000 copies sold!

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Since 2005, Wall Street Oasis has been the place the most trusted resource applicants turn to when preparing for their difficult investment banking interviews.
It is no surprise that we have sold thousands of copies when we have the strongest community (over 1 million comments) and most data to pull from (12,000+ interview insights in the WSO Company Database) compared to any other resource in the world.

Our team of experts works hard every single year to generate the most comprehensive, accurate and helpful guide on the market to help you ace your tough investment banking interviews. We pull from thousands of interview insights each year in our company database to make sure that our guides are up to date and provide an accurate reflection of current trends, whether you're aiming to land at a middle market boutique bank or at one of the large bulge bracket banks.

Practice with ACTUAL Investment Banking Interview Questions
from REAL Interviews with 100s of Sample Answers

How much more confidence would you have if you knew the questions BEFORE you step into the interview room? With over 12,000 interview insights to date across thousands of firms, we have an unprecedented look on the inside to help you get ready. Old, out-of-date or stale guides are no longer your only option with Wall

Street Oasis. To read more about how we changed the game several years ago with the power of the WSO community, click here. We filter through all this rich data so that you don't have to.

Ready to Ace Your IB Interview?

  • WSO Technical Interview Guide - $ 49 Value (Learn more)
  • WSO Behavioral Interview Guide- $ 49 Value (Learn more)
  • WSO Networking Guide- $ 49 Value (Learn more)
  • WSO Video Library - 1 Year Access - $ 400 Value* (Learn more)
  • WSO Company Database - 1 Year Access - $ 360 Value* (Learn more)
  • Over 500 ACTUAL Questions from REAL IB Interviews - Priceless (Learn more)
  • * Only included in the $ 199 package
Impress your Interviewer
Land Multiple Offers
Gain An Edge

Sample Investment Banking Interview Questions

To give you a short preview of what is included in the three guides we thought it would be helpful to post some sample ib interview questions that are included in the package.

Sample Technical Investment Banking Questions:

Sample Answer: "I would want to see the Cash Flow Statement so I could see the actual liquidity position of the business and how much cash it is using and generating. The Income Statement can be misleading due to any number of non-cash expenses that may not truly be affecting the overall business. And the Balance Sheet alone just shows a snapshot of the Company at one point in time, without showing how operations are actually performing. But whether a company has a healthy cash balance and generates significant cash flow indicates whether it is probably financially stable, and this is what the CF Statement would show."
Sample Answer: "You can value a private company with the same techniques you would use for a public company but with a few differences that make it more difficult. Financial information will likely be harder to find and potentially less complete and less reliable. Second, you can't use a straight market valuation for a company that isn't publicly traded. In addition, a DCF can be problematic because a private company won't have an equity beta to use in the WACC calculation. Finally, if you're doing a comps analysis using publicly traded companies, a 10-15% discount may be required as a 10-15% premium is paid for the public company's relative liquidity."
Man Picture Sample Answer: "There are several reasons for issuing stock rather than debt. First, if a company believes its stock price is inflated, issuing stock can raise a lot of capital relative to the ownership sold. Second, if the projects to be funded may not generate predictable cash flows in the immediate future, the company would want to avoid the obligation of consistent coupon payments required by the issuance of debt. Issuing stock is also an effective way to adjust the debt/equity ratio of a company's capital structure or to monetize the owners' investment. "
Sample Answer: "LIFO and FIFO are different methods of dealing with inventory and COGS in a company's accounting policy. With LIFO, the last inventory produced or purchased will be the first to be recognized when goods are sold. With FIFO, the first inventory produced or purchased will be the first recognized when goods are sold."

...and hundreds more, along with company specific trends...

Sample Fit Investment Banking Interview Questions:

Sample Answer: "I am going into this as an unparalleled learning experience. Everyone I have spoken with in the industry tells me you learn everything on the job. While my undergraduate studies prepared me for business, I know that most of the skills I need will be acquired on the job. I understand the hours and the workload, and I want to work incredibly hard to gain real world experience that isn't available in any other profession at this stage in my career. I know these skills will prepare me for anything I want to do later in my career."
Sample Answer: "I feel I am as prepared as anyone else coming out of college to handle the long hours. In fact, when you add up all the time I spent doing all my different activities, school hours were almost as long. Every day I was up at 7:30 for classes that ran from 8:15 until 1:00. After class, I would grab lunch and then go to golf practice, which didn't get me back until 5:00. Then I would grab dinner, and work in either my room or the library until I was done, which usually wasn't until pretty late at night or into the morning. While I know it isn't the same stress and time commitment as finance requires, I feel my experience has left me well prepared."
Man Picture Sample Answer: "In my internship last year, I was responsible for aggregating data my company collected and summarizing it using Microsoft Excel. When I started, the analysts on the team had been doing the aggregating, manually collecting all the data, applying formulas, etc. It seemed like they were wasting a lot of time. I had a little bit of experience with VBA, and over the course of about a week, I taught myself to automate the entire process whenever new data became available. It was great that as a summer intern I was able to implement a system that is still saving time today. "
Sample Answer: "In my free time at school, I like to do things that allow me to spend time with my closest friends. I am a huge sports fan, so we just watch games in our apartment or maybe go out to a restaurant or sports bar. We will even go to a game live if we can get tickets. I also try to stay healthy, so I spend some of my free time in the gym."

...and hundreds more, along with company specific trends...don't underestimate the importance of the fit questions!!!

1. Technical Interview Guide (Part 1 of 5 included)

This 110+ page guide is a compilation of the most common technical investment banker interview questions and sales & trading interview questions encountered on Wall Street. The fourth edition includes a 3 statement Sample Financial Model built to illustrate the typical valuation methodologies used in investment banking and private equity firms. The guide is an electronic pdf and the model is an Excel file so you get everything immediately and can start studying right away.

  • Sample Financial Model - 3 financial statements, DCF and other valuation techniques
  • 200+ of the most Common Questions With Sample Answers
  • Common Brainteasers and Solutions
  • 20+ easy to read charts to help you remember what you read
  • Income Statement, Balance Sheet, and Cash Flow Basics
  • One page tutorials on how to read each of the financial statements
  • Current events-related interview questions and explanations
    (including the European Financial Crisis and Mortgage Crisis)
  • Detailed LBO (leveraged buyout) explanation

UPDATE: Wall Street Oasis has also released a new supplement to the technical guide in the form of flash cards! We provide you with 184 sales & trading and investment banking interview questions and answers from the technical guide to help you prepare in the best format possible. The flash cards are part of the PDF which you can print on any double-sided printer, cut out the cards, and begin studying right away!

Technical investment banking interview questions are part of almost every finance interview. While the level of difficulty of these questions vary from firm to firm, you will undoubtedly be quizzed on technical questions in at least one round of investment banking interviews. Detailed and accurate responses will more likely impress your interviewer and help you land the job. In this difficult market and competitive industry it is important to gain any edge you can. If you put in the time to review, this guide will give you that edge for investment banking interview preparation. Good luck!

Types of questions that are included in this guide:

  • Accounting, Finance and Valuation
  • Stocks
  • Bonds and Interest Rates
  • Currencies
  • Options and Derivatives
  • Mergers and Acquisitions
  • Brainteasers

Table of Contents and Page Previews Below:


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Just got the new technical guide. By far much better than vault. Very detailed (80+ pages) with charts, graphs, etc. I'll be reading this at least once this summer in prepping for fall interviews.
-- banker88.

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The WSO technical guide is awesome! I landed a FT Citi IBD job with it!
-- R.S.

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Just bought the guide, and I can say that it really goes into a lot of detail to introduce and expand on certain concepts.
-- Sisak.

2. Behavioral Interview Guide (Part 2 of 5 included)

This comprehensive guide is a compilation of over 100+ of the most common behavioral / fit questions encountered in investment banking interviews with detailed advice and examples. This guide was created to provide prospective financiers a quick review for a fraction of the price of other investment banking interview guides. This is an electronic pdf so you get everything immediately and can start studying right away (unless you pay with an echeck which can take 3-4 days to verify).

  • Expanded general tips and preparation
  • New questions
  • Sample answers to each and every question
  • More advice on how to respond
  • Additional advice on asking the interviewer questions and over 30 sample questions to ask.

Fit questions are part of almost every investment banking interview. There are certain questions you can always expect to get, but often candidates are unsure of how to best approach them. In this investment banking interview guide, not only do we give you guidance but we even provide specific examples. That is the primary difference between this guide and others. A sample response of what an interviewer is looking for is provided for every question. In this difficult market and competitive industry it is important to gain any edge you can. If you put in the time to review, this investment banker interview guide will give you that edge.

Types of questions that are included in this guide:

  • The One Question You WILL Get In
    Your Interview
  • Industry
  • About You
  • Situational
  • Tricky
  • Other

Table of Contents and Page Previews Below:


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All I can say is I wish I had the Wall Street Oasis Behavioral Guide before I went into my banking interviews. I was well prepared for some of the fit questions that came my way, but others challenged me. With the extensive number of questions in this guide and the sample answers, I would have felt prepared to handle almost anything.
-- 2nd Year Analyst, Credit Suisse, Mergers and Acquisitions.

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I have purchased the Technical, Behavioral and Networking guides. All of them are great! I bought the Vault guides for $ 25 or $ 30 or whatever, but I think these guides are actually better.
-- NewIBHire27

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I've owned several interview prep guides, this being my second WSO guide (first was for Technical Interviews), and the products that WSO has produced are by far the best ones I've seen. The Behavioural Guide covers most, if not all, of the questions you'll get in an interview (I recently interviewed with an elite boutique, some of the questions I was asked were almost identical to the ones in the guide). I will tell you up front that you should not expect the "perfect" answer to each and every single fit question you'll be asked, because the guide does not provide them. What it does provide, however, is the FRAMEWORK that you need to formulate your own, genuine, answer -- this is what interviewers are looking for! Overall, I am very satisfied. Combine this with the tech guide, and you'll be set for 90-95% of the questions thrown your way during interviews.
-- Mez B.

3. WSO Networking Guide (Part 3 of 5 included)

This 71 page guide is a thorough introduction into the fine art of networking. Worried you aren't sending the right Thank You note? This guide can help with specific examples. Wondering how to broaden your search and improve your chances of landing that coveted investment banking interview? This info-rich book is packed with 71 pages of detailed strategies to help you get the most of your networking.

  • 148 Copy-and-Paste Questions for you to ask in an interview (both informational and actual interviews)
  • How to navigate LinkedIn and Cold Calling/E-mailing with success including 14 message templates
  • 8 easy-to-follow tips to make sure your resume makes a great first impression
  • 3 Polished WSO Resume Templates (Word files) from our famous Resume Review service included (one for undergrads, another for experienced applicants and another for experienced applicants with deal experience)
  • 21 things you should be doing RIGHT (and right NOW) for networking success
  • How to AVOID networking failure
  • How to make a huge impression at business conferences
  • 8 crucial steps to make sure you are negotiating your offer properly
  • A plug-and-play template for that crucial 90 Second Elevator Pitch

NOTE: As a reminder, this guide is an electronic pdf so you get everything immediately and can start reading right away.

Table of Contents and Page Previews Below:


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I was tired of the typical advice from my advisor, and decided to get my hands on the WSO Networking Guide. It has been paying dividends since. It was easy to understand and offered practical advice I could use for every setting. I not only found my 'style', but it helped me land my current job. A+ material WSO. Will definitely recommend it to my friends.
-- Chris

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After a few years in finance, what I've realized is that most important skill you can have on Wall Street nowadays is the ability to sell yourself. The networking guide is a Bible for how to meet the right people and, more importantly, maintain those connections.
-- Daniel

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The WSO Networking Guide is perfect for anyone who wants to network more effectively. Like many people, I was worried that I may not be networking as well as I could, and this guide definitely helped me step up my game.
Many of the tips and ideas from it helped me land my current job. If you have any doubts about your networking skills, buy this guide!
-- Michael

4. WSO Video Library (Part 4* of 5)
*Note: Included in the $ 199 IB Prep Pack Plus

The Wall Street Oasis video library offers more than 100 exclusive finance videos, including recorded mock interviews and detailed Q&A finance videos with our experienced Wall Street Mentors. Once you have signed up, you can watch unlimited finance videos from the industry and position of your choice. We are excited to offer this innovative Wall Street video library to help you prepare for your own finance job interviews. As of 2014, the majority of the videos are useful for investment banking analysts, investment banking associates, sales and trading, and management consulting positions.

Free Preview to a Few Webinars in the WSO Video Library Below:

MBA and Your IB Career
Webinar Image Preview
IB or S&T: Which is right for you?
Webinar Image Preview
IB Internship Survival
Webinar Image Preview

Here is a partial list of the Investment Banking webinars,
exclusive to the WSO Video Library:

  • Transitioning from Investment Banking
  • Banking Fit Interviews
  • Banking Technical Interviews
  • 3 Secrets to Breaking into S&T
  • Leveraged Loans Market
  • Mastering the Sales & Trading Interview
  • Fixed Income Sales and Trading
  • Breaking in / Working in S&T - September
  • Best Practices for Technical Interviews
  • Working for a market investment bank
  • How to decide between IB or S&T
  • Experience as an Analyst at Goldman Sachs
  • Non-Target School to BB IB.
  • Going from engineering to banking
  • Technical Interview Prep
  • Recruiting for IB in Germany
  • MBA and your IB / PE Career
  • IB in India: Foreigners working in India
  • Surviving a summer IBD internship
  • How a Middle Market M&A Process Works
  • Who is capital markets right for?
  • Mid Market PE & M&A in Toronto/Canada
  • Make the most of your summer internship
  • IPO's: How they are sold and valued
  • And Many More...

The most comprehensive, trusted and best preparation for investment banking interviews in the world.

5. WSO Company Database (Part 5* of 5)
Note: *Included in the $ 199 IB Prep Pack Plus

Exclusive Data on Compensation, Interviews and Employee Reviews

1. Salary & Bonus Detail

We make it easy to know how much mula you can expect to make at thousands of firms and positions. Quickly scan 100s of companies for the minimum, maximum, median and average base salary and cash bonus by position.

2. Unique Company Insight

We make it easy for you to compare companies across a variety of metrics, including overall rating, interview experience, relative compensation, diversity in recruiting, the percentage of interns getting full time offers as well as what the top schools, top degrees and majors targeted by each firm. We even go so far as to quantify the firms relative position to others using percentile rankings in each category.

3. Never Feel Naked in an Interview Again

Ready for that tough interview? Get the inside scoop and see what candidates interviewing for the same position were asked in prior interviews at the same firm to see if you're ready. Interview insights focus on the toughest questions to make sure you are ready to land an offer. Don't go in without doing your homework...which starts right here in the WSO Company Database.

100% Money Back Guarantee

We are very confident that the Investment Banking Interview Prep Pack will help you ace your interviews if you put in the time to study. We are so confident that if for any reason these materials do not meet your expectations, we would be happy to provide you a full, no questions asked, 100% refund within 30 days of purchase. Just e-mail and she will process the refund within 24 hours.