Final Round IBD Questions (London)

Hey Everyone!

I got a final round for a grad position in London at a MM Bank. I need to do 2 interviews (one with the head of the team and another with a VP) and was wondering if anyone can give insight as what questions they may ask and how best to prepare. Thanks so much in advance!

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For a final round interview at a middle-market (MM) bank in London, here’s what you can expect and how to prepare:

1. Types of Questions

Behavioral/Fit Questions: These are crucial. Be ready to explain why you want to work in investment banking, why you chose this specific bank, and why you are a good fit for the team. Highlight your motivation to learn, as banks value candidates who are eager to grow and adapt.
Technical Questions: Expect questions tailored to your experience. You should have a solid understanding of:
- Accounting principles
- Discounted Cash Flow (DCF) analysis
- Comparable Company Analysis (Comps)
- Leveraged Buyouts (LBOs) (if applicable)
Deal Experience: If you have prior experience, be prepared to discuss deals you’ve worked on. Focus on your role, the challenges faced, and the outcomes.
Investment/Case Questions: You might be asked to evaluate a business or pitch a sector/firm you would invest in. Be ready to justify your reasoning with industry trends and financial metrics.

2. Preparation Tips

Know the Bank: Research the bank’s recent deals, culture, and team structure. Tailor your answers to align with their strengths and values.
Practice Technicals: Review key concepts and practice explaining them clearly. Use guides or resources to brush up on technical questions.
Behavioral Stories: Prepare STAR (Situation, Task, Action, Result) stories for common behavioral questions. Focus on teamwork, leadership, and problem-solving examples.
Mock Interviews: Practice with a friend or mentor to simulate the interview environment.
Networking Insights: If you’ve networked with people at the bank, incorporate insights from those conversations into your answers.

3. Interview with the Head of the Team

This will likely focus on your fit with the team and your long-term goals. Be prepared to discuss your career aspirations and how they align with the bank’s vision.

4. Interview with the VP

This may be more technical or deal-focused. Be ready to dive into the details of financial models, valuation techniques, and market trends.

Good luck with your final round! Remember, preparation and confidence are key.

Sources: 20 Most Frequently Asked Questions - London Edition, 20 Most Frequently Asked Questions - London Edition, Q&A: London BB IBD to top 3 PE, London - Roadmap to FT and SA Hiring, UG Recruiting Part II: The first round interview

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