Summer Analyst

The first round interview was a 30 minute 1 on 1 call with an analyst at the firm. It started off with basic "tell me about yourself", "why banking", "why tech" questions (Lazard SF) and then moved into market knowledge questions about a specific vertical you're interested in, as well as general trends/acquisitions/stocks in that vertical. It then moved into technicals. They started off super basic (three valuation methods, calculating wacc, etc.) and then moved into slightly tougher questions.
They asked "if two companies are identical except one has a lower tax rate, which one has a higher EBITDA multiple", "Company has $7 EPS, trades at 15x P/E. Tax rate falls from 35% to 17.5%. What happens to share price?", and "Why could a company with a low WACC yield a low valuation?" were some of the ones that come to mind.