Got an IB Associate Interview with No Deal Experience?

Current Position: I'm coming up on two years in my first job working in a Chief of Staff type role for Leveraged Finance at a 10-20 ranked bank. Basically we work very closely with the team head and markets head on deal tracking, revenue reporting, executive updates/presentations, and ad hoc studies. We don't, however, get into the weeds with clients, modeling, or legal docs. The job is considered front office.

I'm looking to make the jump to a LF desk out of interest and due to fear of career stagnation, and have been applying to analyst LF/M&A roles at similar or lower tier shops. Internal transfer is in the cards but i'm honestly looking for a change of pace.

Recently, I accidentally applied to a LF associate role at a bank in the 20-25ish range and, to my surprise, got a phone screen request.

How do I approach this? I feel like this is already off the table due to lack of experience and the fact that they're probably looking for someone who can make an immediate impact, but Id feel pretty dumb flat out rejecting the call (believe it's just with HR first). Do I try to sell myself as an analyst hire? Do I just sorta ignore it and go with the flow (I can imagine the modeling/deal work interview questions will come up)? 

I was thinking of being up front about the unlikely fit for this role and trying to get in good graces with HR for a related analyst position, but any advice is welcome.

1 Comments
 

Dolorem libero assumenda aut qui et voluptatem nihil. Ea vero fugiat ipsam ea sed repellat aliquam. Iste et dolor quidem iste officiis aut. Iusto et non et placeat.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
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
GameTheory's picture
GameTheory
98.9
6
dosk17's picture
dosk17
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
bolo up's picture
bolo up
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...”