ING Investment Banking Analyst interview questions & guide 2026

Preparation for ING interviews requires a balanced focus on technical mastery and clear, structured communication. While questions vary by region and team, the following categories represent the core of the interview loop.

Finance and Accounting Technicals

These questions test your ability to navigate the language of finance. You must be comfortable explaining the mechanics of financial statements and valuation methodologies without hesitation.

• Walk me through the three financial statements and how they link together.
• Explain the difference between Enterprise Value and Equity Value.

Effective preparation for ING is about building a "technical toolkit" and a coherent narrative. You should be able to explain complex financial concepts in simple, logical steps.

Technical Knowledge – You must be fluent in accounting and valuation. Practice "walking through" a DCF or a three-statement model aloud until the logic is second nature.

Commercial Awareness – ING values candidates who understand the broader market context. Stay updated on major M&A deals and industry trends, particularly those involving the bank’s core sectors.

Structured Problem-Solving – Whether you are answering a technical question or a case study, use a structured approach. State your assumptions clearly and walk the interviewer through your logic step-by-step.

Fit and Motivation – Be ready to explain your career trajectory. Connect your past experiences to the specific skills required for an analyst role and demonstrate a genuine interest in the firm's client base.

The interview process at ING is designed to test your technical aptitude, intellectual curiosity, and cultural fit. You can generally expect a multi-stage process that begins with a screening round, followed by more technical, in-depth interviews with senior bankers. In some regions, this may include a formal modeling test or a take-home case study where you are asked to build a valuation model or prepare a presentation.

The firm prioritizes candidates who are not only technically sound but also collaborative and professional. You should expect a mix of behavioral questions—focused on your resilience and long-term career goals—and rigorous technical assessments. The pace is professional, and while some processes may involve multiple rounds, the goal is to assess your ability to contribute to a high-performing deal team.

The timeline above reflects a typical progression from initial screening to final-round interviews. Candidates should use this as a framework to manage their preparation energy, focusing on technical fundamentals early and transitioning to behavioral and case-study practice as they advance to later rounds. Note that specific regional processes may vary slightly in the number of technical rounds.

Technical Mastery

This is the baseline requirement. You are expected to be precise. "Strong performance" means you can explain the why behind the how—not just calculating a WACC, but explaining the implications of the inputs.

• Financial Linkages – Ensure you can bridge the Income Statement, Balance Sheet, and Cash Flow Statement perfectly.
• Valuation Logic – Understand when to use specific multiples and why certain valuation methods are more appropriate for specific industries.
• Modeling Mechanics – Be prepared to discuss how you would structure an Excel model, including key drivers and sensitivity analysis.

As an Investment Banking Analyst, your day-to-day work is centered on supporting the deal flow. You will spend significant time in Excel and PowerPoint, translating financial data into pitch books and information memoranda. You will be responsible for maintaining valuation models, conducting industry research, and assisting with due diligence processes.

Collaboration is key; you will often work closely with Associates and VPs to prepare for client meetings. Your ability to synthesize large amounts of data quickly is essential, as you will often be asked to support multiple workstreams simultaneously. Whether performing a paper LBO calculation or updating a comparable companies analysis, your work is a critical input into the firm's final recommendations to clients.

A strong candidate for an Investment Banking Analyst position at ING demonstrates high academic achievement combined with a practical, hands-on approach to finance.

• Must-have skills – Advanced Excel proficiency, strong accounting foundation, and the ability to build and error-check financial models under tight deadlines.
• Soft skills – Exceptional attention to detail, a proactive work ethic, and the ability to communicate complex concepts clearly to senior colleagues.
• Nice-to-have skills – Prior internship experience in finance, knowledge of Bloomberg or Capital IQ, and familiarity with specific industry sectors relevant to ING.

Q: How difficult are the technical portions of the interview? A: The technical questions are designed to be challenging but fair. They test your fundamental understanding of finance. If you have a solid grasp of accounting and valuation mechanics, you will be well-prepared.

Q: What is the best way to demonstrate my motivation for ING? A: Research the firm’s recent deals and its specific focus areas. Being able to articulate why ING’s platform is the right place for your career goals is essential.

Q: Are there any specific tips for the modeling test? A: Focus on speed and accuracy. Use consistent formatting, label your assumptions clearly, and always double-check your balance sheet to ensure it balances.

Q: What happens if I don't know an answer? A: Be honest. It is better to walk the interviewer through your logic to arrive at a potential answer than to guess. They are looking for your thought process.

• Structure your answers – Use the STAR method (Situation, Task, Action, Result) for behavioral questions to keep your responses concise and impactful.
• Practice mental math – In some rounds, you may be asked to perform quick calculations without a calculator; keep your skills sharp.
• Stay updated – Read financial news daily. You should be able to discuss the current interest rate environment and how it impacts M&A activity.
• Be curious – Ask thoughtful questions at the end of your interview. It shows you are genuinely interested in the firm’s operations and culture.

The Investment Banking Analyst role at ING is a demanding, high-impact position that offers a front-row seat to the global financial markets. By mastering the fundamentals of accounting, valuation, and behavioral communication, you position yourself as a serious candidate capable of contributing to the firm’s success. Remember that consistency and structured thinking are your greatest assets throughout the interview loop.

You can explore additional interview insights, practice questions, and preparation resources on Dataford. We encourage you to approach your interview with confidence, knowing that your preparation will provide the foundation for a successful performance.

The module above provides insights into the compensation structure for this role, including base salary and potential performance-based bonuses. Understand that these figures are representative of the market and can vary based on your experience level, location, and the specific group you are joining. Use this data to set realistic expectations as you navigate your career progression at the firm.