Livingstone Partners Interview Questions

7 total interview insight submissions
Interview Experience (83%)

The Interview Experience is a score from 1 star (very negative) to 5 stars (very positive) generated based on the Interview Insights at this company.

The number you see in the middle of the doughnut pie chart is the simple average of these scores. If you hover over the various sections of the donut, you will see the % breakdown of each score given.

The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few interview insights). Simply put, as a company gets more reviews, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire dataset.

4
  • Very Negative
  • Negative
  • Neutral
  • Positive
  • Very Positive
Interview Difficulty (54%)

The Interview Difficulty is a score ranging from very difficult (red) to very easy (green) generated based on the Interview Insights at this company.

The number you see in the middle of the doughnut pie chart is the simple average of these scores. The higher the number, the more difficult the interviews on average. If you hover over the various sections of the doughnut, you will see the % breakdown of each score given.

The percentile score in the title is calculated across the entire Company Database and uses an adjusted score based on Bayesian Estimates (to account for companies that have few interview insights). Simply put, as a company gets more insights, the confidence of a "true score" increases so it is pulled closer to its simple average and away from the average of the entire data set.

2.2
  • Very Easy
  • Easy
  • Average
  • Difficult
  • Very Difficult

Interviews at Livingstone Partners

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Job Title
Group/Division
Location
Experience
Difficulty
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Year 2022
Job Title N/A
Group/Division Investment Banking
Location Chicago
Experience
Neutral
Difficulty
Average
N/A
Year 2022
Job Title N/A
Group/Division Investment Banking
Location Chicago
Experience
Neutral
Difficulty
Average
2nd Year Analyst
Year 2018
Job Title 2nd Year Analyst
Group/Division Generalist
Location Valencia, Spain
Experience
Positive
Difficulty
Very Easy
1st Year Associate
Year 2019
Job Title 1st Year Associate
Group/Division Mergers and Acquisitions
Location Chicago
Experience
Very Positive
Difficulty
Very Easy
1st Year Analyst
Year 2019
Job Title 1st Year Analyst
Group/Division Generalist
Location Chicago
Experience
Positive
Difficulty
Average
1st Year Analyst
Year 2018
Job Title 1st Year Analyst
Group/Division Mergers and Acquisitions
Location Valencia
Experience
Very Positive
Difficulty
Very Easy
1st Year Analyst
Year 2015
Job Title 1st Year Analyst
Group/Division Investment Banking
Location Chicago
Experience
Neutral
Difficulty
Difficult

Interview Questions & Answers - Livingstone Partners Examples

Summer analyst Interview - Investment Banking

Anonymous interview candidate in Chicago
Interviewed: June 2022
Outcome
No Offer
Interview Source
Other
Length of Process
Less than 1 month
Application
Phone Interview
1 on 1 Interview
Personality Test
Interview
The first phone interview was a behavioral interview. I landed it by emailing the HR director of the company.
Interview Questions
Technical questions

Analyst Interview - Generalist

Anonymous employee in Valencia, Spain
Interviewed: April 2018
Outcome
Accepted Offer
Interview Source
Employee Referral
Length of Process
1-2 months
Application
1 on 1 Interview
Presentation
Interview
Got referred by an employee. The process consisted of mainly 3 stages. All but the last one at their offices. First stage - going over my CV with the head of recruiting, why investment banking and some fit questions. 2nd stage - Multiple rounds of interviews with a director and two other partners. Going through my Cv again then basic questions of a sell-side M&A process and very basic technical questions.
Interview Questions
The interviews were not difficult at all. Pretty much went through my CV and got asked some basic questions regarding accounting and valuation principles.
It is very important to check their website since they post all they do there and you can also see the recent deals they closed by office and in which particular sectors is every employee focused on.
This question is not difficult at all but I think they value a lot your response since it is a small boutique and it is very important to fit in. I was asked how i spend my day outside of work.

Associate Interview - Mergers and Acquisitions

Anonymous interview candidate in Chicago
Interviewed: December 2019
Outcome
No Offer
Interview Source
Applied Online
Length of Process
Less than 1 month
Application
Phone Interview
Interview
1st phone interview for 15 minutes. Why Livingstone, why middle-market, why IB, SAT Score, etc. Very generic questions.
Interview Questions
I had the first-round quick 15-minute phone interview with a Director at the firm. It was a quick call for checking candidate background, so I did not get any difficult or unexpected interview questions at all. Why this firm, why investment banking, why middle market, why Chicago (I am currently in New York), test scores (SAT, ACT, etc.), etc. After these, I had a chance to ask questions. I was told that the first phone interview will be followed by another round of phone interview on technicals, but have not got a second call.

Investment Banking Analyst Interview - Generalist

Anonymous interview candidate in Chicago
Interviewed: November 2019
Outcome
No Offer
Interview Source
Applied Online
Length of Process
Less than 1 month
Application
Phone Interview
Group Interview
Skills Test
Interview
Short 10 minute call with a junior banker. Background info, why XYZ Bank, ACT score, etc.
30 minute 4 on 1 Skype technical/behavioral interview including valuation, accounting, and brain teaser questions (90% technical interview).
Interview Questions
1. Given FY2018 revenue of $100, profit margin of 40%, EBITDA margin of 20%. Given a FY2019 top-line growth rate of 25%, told that your Operating Expenses are 60% fixed and 40% variable. Find profit margin and EBITDA in $'s for FY2019.

2. Relatively simple accounting questions -- e.g. Is accounts receivable a source or use of cash on the Cash Flow Statement? Walk us through how you came to that answer.

3. Did not ask typical, high-level valuation questions like "What are the main valuation methodologies?" or "Which methodologies give you the highest valuation?" Instead they were specific questions about minor DCF components. Should not be too difficult if you study the WSO interview guide. One example was "Explain the difference between levered and unlevered FCF within a DCF. When would you use each and how do the formulas differ?" Also asked about how to unlever and relever Beta within CAPM when deriving Cost of Equity.

*I was probably asked 12 different technical questions over the 35 minute interview. I would say about 10 of them came verbatim from WSO interview guides. Just be prepared to explain or reasoning in more detail than what is typically provided in prep material*

1st Year Analyst Interview - Mergers and Acquisitions

Anonymous employee in Valencia
Interviewed: February 2018
Outcome
Accepted Offer
Interview Source
Employee Referral
Length of Process
1-2 months
Application
1 on 1 Interview
Group Interview
Background Check
Interview
Went through an employee referral, basically two interviews after screening my CV. They were looking for an intern but in the first interview with one of the partners they changed their mind and actually told me it was for a full-time position. Bascially went though my CV, basic questions about why M&A, why this company, etc. 2 round went through the other 2 partners and one of the directors, basically the same plus if I knew where i was getting into (hours, type of job, etc). I was not asked any technicals (only if i knew how a sell-side M&A process consisted of.

I was appointed 2 weeks later and they offered me the job.
Interview Questions
I think i was not asked any difficult question, most of them where behavioural questions, easy to answer. Since it is a small boutique they did not push too hard plus I had an employee referral which sahred things in common in terms of past education and so i belive that made things easier. Since I was comming from consulting they asked why I wanted to switch careers. They also asked me about my performance in university (because I had one really bad semester mainly because of an external issue regarding my exchange)

Analyst Interview - Investment Banking

Anonymous interview candidate in Chicago
Interviewed: 2015
Outcome
No Offer
Interview Source
Applied Online
Length of Process
1-2 months
Application
Phone Interview
Group Interview
Interview
Applied online, two, 30 minute phone interviews before Superday. First interview behavioral and second all technical. Both phone interviews had team of 4-5 interviewers with one leading the questions.
Interview Questions
Increase in which balance sheet items is a source/use of cash? , List key assumptions in LBO. , When is enterprise value equal to equity value?
When there is no debt, or net cash is 0.
, What valuation method is best to use when company is being acquired by a PE firm?
LBO model.
, Gave EBITDA value and multiple, asked for corresponding enterprise value and equity value assuming certain debt and cash.