Healthcare IB Analyst

Applied for the 2026 full time Investment Banking Healthcare Analyst position.

Long story but I initially got connected with someone on the biopharma team over a year prior to my interview process and maintained a good relationship with him and through him I got connected to other members on the healthcare side. At the same time I talked with analysts on the Industrials team through my own network at William Blair.

Now getting closer to the interview I had the chance to talk to the head MD on the MedTech team on two separate occasions before each round of interviews. He had worked with my dad over two decades ago but made time to talk with me through my dad.

At this point I had talked with the MD, 2 Directors, the campus hiring director (while applying for summer internship 2025 off cycle) and numerous analysts.

Although I new multiple people one of the directors I was connected with (on the industrials team) told me to apply online but said he would tell them to ignore that I was at a non-target with a low GPA (3.3 overall but 3.5 Finance and 3.0 for my Biochemistry major) and at least give me a first round interview.
The same day I got an email saying that I was moving on to the next round and to schedule my first-round interview (30 minute teams call) and that I had to complete the Suited test. Other than the concept surrounding contrapositives (someone else gave a good explanation on here) there is nothing you can really do to prepare for it.

The actual first round interview flew by, 2 minutes of introduction, walk me through your resume, behaviorals for 10 minutes - questions youll find on the 400 questions guide, Technicals for 10 - What are the three main types of valuation, why would someone use each type vs the others? and a few more that were easy. I had about 3 minutes to ask her questions.

That interview was Thursday morning, and I got an email Friday night that I was invited to a virtual superday. I scheduled it for the following friday.

The superday consisted of 4 interviews, 30 mintues each with a 30 minute break in between interview 2 and 3.
1- Director who was the technical guy - walked through a paper LBO but I got thrown off as he went step by step and didnt give me all of the information at once - I had only practiced doing full paper LBOs and actual LBOs so this was almost like a change up. asked me to find Equity value, enterprise value, net income, levered free cash flow. Gave me an amortization fee which was the only thing out of the ordinary for me.
2 - MD who asked a mix of behaviorals and technicals but all were about my resume and past work experience. since I had a PE internship he asked about some of the technical aspects related to the buy side and LBO / valuation concepts. Behavorials were related to leadership experience on my resume - question I remember was "what do you think is a misconception your peers have of you"
3 - MD (head of healthtech) this was my favorite interview, rather than asking "walk me through your resume" he asked what 3 points on my resume I want him to look at/ focus on. then he gave me all behaviorals to see how I think through processes, one was "say we are in Philidelphia and standing outside an office building waiting for a taxi, if I asked you to estimate (no actual math) how many people worked in that building, what questions would you ask me to come up with an answer?"
4 - Director who asked a mix of technicals maybe 2 of them, and then behaviorals and then ran me through a scenario - "say it is Thursday night at 9pm and you are a first-year analyst, you just got done building a deck for a sell side client who has their first presentation tomorrow morning. You get an email from the CFO who says they undershot their top line by 10% when previously they were expecting to overshoot by 10%. What would you do?

All in all, I really enjoyed the process, William Blair focuses so heavily on their culture and every time they asked why William Blair I had a very good answer because of how long I had been talking with people at the firm and how many different people I had talked with. They cared more about that than anything else.