I have an upcoming on the spot case study for a small boutique on the west coast (US). This is an entry level analyst position (I graduated undergrad last month) and the case study is the 1st round interview.
This is a pen, paper & calculator case study. I will be given a hypothetical company's financial statements to make relevant observations using basic financial concepts.

Any recommendations on how to prepare for this? The case study is up to 1.5 hours long.
The firm specializes in the following areas:
Merger & Acquisition Advisory
Business Valuations, Fairness & Financial Opinions
corporate finance
ESOP Formation & Valuation
Financial Reporting & Tax Compliance
Distressed Situations

obviously, fall recruiting did not go well for me, so i am willing to do whatever it takes to nail this.

background on me: transferred to semi target, interned at a small consulting shop last summer

Thanks! love this forum

Comments (7)

Best Response

@6221_analyst, my guess is that you get the three financial statements (maybe even just the IS and BS) and some vague company information. I would build a basic projection model and a DCF. All of this is possible with pen and paper. You can then make some notes of what you can infer from the financial (e.g. "I noticed that A/R was dropping as sales were increasing...") and some questions to ask (e.g. "I noticed that this company is relatively young, so I ramped up CapEx before leveling it off in my model..."). No one is going to tell you to come up with a list of questions, so this will be key to setting yourself apart from other interviewees. It shows that you care and were actively thinking.

Practice the building a projection model, a DCF, and a cash flow statement. Good luck.

Investment Banking Interview Course


thanks for the swift response @Sil !

I forgot to mention the case study will have a set of questions that I will answer. I asked if it would have a specific objective (financing scenarios/M&A/typical case study) and they told me it would be more general/open ended.

any other feedback is greatly appreciated!


Might 'halp' if you spelled correctly. Presentation is everything.


@Ebolamonkey I did that on purpose. I will use proper spelling in the future.


Wait, hold up. Now I am curious. Why would you spell help as halp?


I've just seen it spelled that way on the internet before. Thought it might grab some attention.
urban dictionary:
1) Help.
2) Favorite word of Code Zero, used when he is in distress.
*1) HALP! How do I surf the net!?

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