HF Modeling exam / test question

Hi all, 

Has a question on the typical in person modeling exam for most HFs. I know this has been discussed at length in other posts but just wanted to confirm if they ever ask for an LBO or M&A model (saw a comment saying this happened at a few places)?

Otherwise I am assuming it is build a 3 statement projection with ~3 years of quarterlies,  model out bear base bull, and slap some multiples on it / sensitivity and then engage in discussion over revenue and cost drivers at the end. Otherwise in some cases if necessary, run a DCF (low/no profit growth co.). 

Lastly, how detailed do you try to get on the things that can be summarized with percentages? (working capital, D&A, etc.) 

And then I assume when it is a case study/take home you will want to build everything out in as much detail as possible (or at least if it is at all somewhat relevant to the discussion) 

Thanks

3 Comments
 

Cupiditate eligendi repudiandae consectetur expedita vel eum occaecati qui. Et consequatur dolores nobis doloremque.

Sit sit natus rerum non consequatur. Assumenda et ut ducimus reprehenderit et possimus. Autem sed libero et excepturi. Quo sint dolorem et qui quia aut autem. Qui dicta soluta non autem tempora eum laboriosam. Omnis ratione itaque nulla reprehenderit.

Career Advancement Opportunities

October 2026 Hedge Fund

  • Point72 99.0%
  • D.E. Shaw 98.0%
  • AQR Capital Management 97.0%
  • Citadel Investment Group 96.0%
  • Magnetar Capital 95.0%

Overall Employee Satisfaction

October 2026 Hedge Fund

  • Magnetar Capital 99.0%
  • D.E. Shaw 98.0%
  • Blackstone Group 97.0%
  • Citadel Investment Group 96.0%
  • Two Sigma Investments 94.9%

Professional Growth Opportunities

October 2026 Hedge Fund

  • AQR Capital Management 99.0%
  • Point72 98.0%
  • D.E. Shaw 97.1%
  • Citadel Investment Group 96.1%
  • Magnetar Capital 95.1%

Total Avg Compensation

October 2026 Hedge Fund

  • Portfolio Manager (9) $1,648
  • Vice President (27) $464
  • Director/MD (11) $372
  • NA (9) $320
  • Engineer/Quant (83) $287
  • 3rd+ Year Associate (26) $284
  • Manager (4) $282
  • 2nd Year Associate (32) $253
  • 1st Year Associate (76) $193
  • Analysts (235) $177
  • Intern/Summer Associate (29) $145
  • Junior Trader (5) $102
  • Intern/Summer Analyst (276) $95
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”