Breaking Into Wall Street Investment Banking Interview Guide Pdf Jun 2026
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LBO questions are crucial, particularly for PE and top-tier IB interviews. The guide teaches how to structure an LBO model, analyze returns, and understand the impact of leverage. How to Effectively Use the BIWS Interview Guide
Determine if you can handle 80+ hour work weeks and represent the firm in front of clients. 2. Behavioral Questions & Personal Storytelling
The value of the entire business (Equity Value + Debt + Preferred Stock + Minority Interest - Cash). This is the "takeover price." III. Phase Two: The Behavioral "Fit"
You need to understand Merger and LBO models inside out. A standard merger model analysis starts with purchase price and financing structure, then determines whether the deal is accretive or dilutive to the acquirer's EPS. For LBOs, focus on how financial sponsors use debt to enhance equity returns. This public link is valid for 7 days
You must be comfortable with the three main valuation methodologies: Trading multiples. Precedent Transactions: Historical transaction multiples. Discounted Cash Flow (DCF) Analysis: Intrinsic valuation.
: Ask 2–3 highly tailored questions about the interviewer’s specific deals or sector views.
Disclaimer: This article provides a summary of strategies commonly found in top investment banking interview prep materials. Success requires rigorous, personal preparation.
Do not skip the accounting questions. Ensure your foundation is rock solid. Can’t copy the link right now
Here are some tips to help you prepare for your investment banking interview:
Share a genuine professional or academic failure, emphasize what you learned, and explain how you applied that lesson to a future success. 3. Core Technical Concepts: Accounting & Valuation
: Deep dives into Accounting, Enterprise and Equity Value, Valuation (DCF, Public Comps, Precedent Transactions), and LBO modeling.
The is a comprehensive, structured resource designed to help candidates master both behavioral "fit" and technical interview questions. The latest version (4.0) consists of over 578 pages of content and 14+ hours of video , focusing on conceptual mastery rather than rote memorization. Core Content & Key Features The guide teaches how to structure an LBO
┌──────────────────────────┐ │ Valuation Techniques │ └────────────┬─────────────┘ │ ┌─────────────────────────────┼─────────────────────────────┐ ▼ ▼ ▼ ┌─────────────────┐ ┌─────────────────┐ ┌─────────────────┐ │ Public │ │ Precedent │ │ Discounted │ │ Comps (Relative) │ │ Transactions (Relative)│ │ Cash Flow (Intrinsic)│ └─────────────────┘ └─────────────────┘ └─────────────────┘
What is the Breaking Into Wall Street (BIWS) Interview Guide?
The Breaking into Wall Street guide is generally structured to mirror the structure of a real investment banking interview. 1. Accounting and Financial Statement Analysis
: Quantify the positive outcome and share what you learned. 📈 Current Markets & Deal Discussion
I. Introduction to Investment Banking
