lateral modeling tests or techincals
Is there a typical test banks have you do when looking to lateral (1 yr experience)? Also, are most lateral interviews more or less technical heavy? And to what level (basic/advanced?) I know it depends on the group but just wondering generally if anyone had any two cents.
If anyone has any idea on what the job market is like, would also love to know.
Definitely will be asked technicals. Types of questions will depend on the firm/group. Interviewing for an M&A group? Better know acc/dil type questions. Interviewing for a sponsor-heavy EB group? Should know LBOs and DCFs well.
I think almost all firms will give laterals some sort of model test/case study/assessment. This is to make sure you can actually do the job, and to understand that you’re not coming in with the same knowledge/ability as a first year.
Most lateral interviews will be technically heavy (assuming you're referring to BB/EB). Prepare for several rounds of interviews (5-8), where the process can seem like a marathon. It's important to be well like by many people in the group, as you will get many rounds with various associates/VPs. While it does vary, a lot of groups do administer modeling tests, where you should expect some variation of a three statement LBO, DCF, accretion dilution spread. I expect the lateral market to flare up and stay hot through the summer as people jump ship after bonuses.
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