Every investment banking interview revolves around a relatively small group of concepts. Focus first on:
Don't move on until you can explain each topic without reading notes.
Strong candidates recognize the relationships between topics. For example: higher depreciation reduces EBIT. Lower EBIT reduces taxes, which partially offsets the earnings decline. Depreciation is then added back on the cash flow statement, so cash changes — but enterprise value remains unaffected, because depreciation is non-cash. Interviewers frequently build follow-up questions around exactly these kinds of connections.
Concrete examples are easier to remember. Suppose a company has:
Being comfortable calculating figures quickly makes technical interviews much smoother.
Behavioral questions often determine whether candidates with similar technical skills receive offers. Develop stories covering leadership, teamwork, conflict, failure, success, and initiative — using specific situations rather than broad claims. Instead of saying "I have strong leadership skills," say: "I led a five-person team organizing our university's finance conference, increasing attendance from 180 students to 265 while securing three additional corporate sponsors." Specificity creates credibility.
Reading interview guides builds knowledge. Mock interviews build performance. Practice speaking without notes, explaining concepts concisely, handling unexpected follow-up questions, and recovering after mistakes. The goal isn't perfect answers — it's staying composed while solving problems aloud.
After each mock interview, write down the questions you missed, explanations that felt unclear, and areas where you hesitated. If you repeatedly struggle with working capital or DCF assumptions, spend your next study session fixing those specific weaknesses rather than reviewing everything again. Targeted review is much more efficient.
Even one hour per day compounds quickly. Example schedule:
Consistency usually matters more than marathon study sessions.