6 Comments
 

There's already a thread on this exact thing - "Morgan Stanley Phone Interview Off Cycle" - where one reply said expect pure behavioural. Single anecdote from 2021, so take it with salt. The WSO interview database also has an MS London off-cycle entry (dated 2016): numerical tests first, then a phone round, then two face to face.

The FIG part is what should shape your prep, and FIG is broad - banks, insurers, specialty finance, brokerages, asset managers, fintech. For banks a normal DCF breaks (free cash flow doesn't mean the same thing for a lender), so there it's dividend discount models and P/BV vs ROE plus regulatory capital; insurers get similar treatment, while asset managers are valued like normal companies. M&I's FIG guide lays all of that out. I'd prep story, why MS, why FIG, the basic accounting/valuation core, and the bank-specific valuation on top.

Past IB & PE interview questions - ledgershelf.com
 

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