Anyone have any insight on how technical PWP / TPH FT interviews are + info about the case study?

Based on the most helpful WSO content, interviews at elite boutiques (EBs) like PWP (Perella Weinberg Partners) are generally known to be more technical compared to bulge brackets. This is because EBs often hire smaller analyst classes, meaning each analyst has more responsibility and needs to demonstrate strong technical and analytical skills.

Key Insights:

1. Technical Intensity:

   • Superdays at EBs can be highly technical, but the level of technicality may vary depending on the interviewer. Some superdays are entirely fit-based with only a few conceptual technicals, while others may dive deep into technical questions.
   • You should be prepared for rigorous technical questions, including accounting, DCF, and potentially LBO modeling. Mental math and understanding valuation methodologies are also critical.

2. Case Study:

   • While specific details about PWP or TPH case studies aren't explicitly mentioned, case studies at EBs typically test your ability to analyze a business scenario, interpret financial data, and present your findings.
   • You may be asked to walk through financial statements, evaluate a company's valuation, or discuss the implications of a specific transaction.

3. Preparation Tips:

   • Memorize and understand the questions/answers in comprehensive interview guides like the Wall Street Oasis Technical Interview Guide.
   • Practice explaining concepts under pressure, such as how the three financial statements interact or how a specific transaction impacts them.
   • Be ready to discuss valuation methodologies, including DCF, comparable companies analysis, and precedent transactions.

4. Sample Questions:

   • Walk me through a DCF.
   • How do the three financial statements link together?
   • What happens to the financial statements if depreciation increases by $10?
   • Explain the concept of PiK interest.
   • Discuss the pros and cons of different valuation methods.

To excel, focus on being technically sound, practice case studies, and ensure you can articulate your thought process clearly and confidently.

Sources: Superday Advice From a Tired Interviewer, Ask me anything - MM PE Associate, 1 year in, https://www.wallstreetoasis.com/forum/investment-banking/non-target-to-bb-ib-sa?customgpt=1, So tired of this recruiting shit, Are interviews more difficult at EBs?