Summer 2027 Intern - Investment Banking - Generalist

3 Rounds - HR Screen, 2 Person Zoom Interview, Superday IRL.
Interview guaranteed through the FLF program. Its generalist and in the chicago office.

1. HR Screen
a. Why Stout?
b. What skills and experiences have made you qualified for the role?
c. Why Chicago & Middle Market?
d. Tell me about a time you faced criticism and how you reacted.
e. Investment banking is a high intensity job with a large learning curve, tell me about a time where you learned a new skill and how you prepared.
f. Tell me about a time you faced a conflict or a disagreement and how you handled it.
2. 2 Person Interview
a. Why Middle Market, and why Stout?
b. What skills or background make you qualified for investment banking?
c. Tell me about a time you handled multiple priorities?
d. Walk me through a traditional sell side process.
e. You’re showing a valuation to a client, and the management doesn’t like your assumptions, how would you respond?
f. Name the valuation methods and rank them from highest to lowest valuation.
g. Walk me through a DCF, make sure you include both calculations for terminal value.
h. Company A has 20% margins, Company B has 40% margins, same EBITDA: which one will cost more?
i. What risks associated with $50M revenue that don’t exist with a $5B revenue company?
j. What are ways an LBO of a $50M revenue might scale returns compared to a $5B revenue company?
k. Walk me from net income to free cash flow.
l. A company has always had positive EBITDA but just filed for bankruptcy. What could be an explanation?