Real, anonymous reports from people who interviewed for Investment Banking Analyst at Lazard, newest first and distilled into what to expect across the loop.
After a recruiter call, I ended up with a fairly classic investment banking interview flow: a mix of technical and behavioral, but with the technical side doing most of the heavy lifting. I was asked to talk through my fit and motivations, then I got pulled into valuation questions where they really wanted a structured explanation. The questions leaned heavily into TEV and DCF, and they also tested what I knew about comps-style thinking and capital structure relationships through cap-related topics.
My process started online and moved fast. I did an online test first, then a recorded interview where they folded together multiple prompts into a single question—telling me about myself, why Lazard, and what would make me a good fit, all at once. The preparation time was tight for parts of the recording, which pushed me to be concise while still sounding thoughtful.
The interview process typically starts with an online assessment followed by a series of phone interviews, leading to a superday that consists of multiple back-to-back interviews. Candidates should expect a structured timeline with clear stages, often requiring quick adaptation as they progress through different interview formats.
Candidates will face a heavy emphasis on technical questions, particularly around valuation methods such as DCF, TEV, and capital structure concepts. Expect to demonstrate not just knowledge but the ability to apply technical skills under pressure, often with a focus on real-world deal scenarios.
Behavioral questions are interwoven throughout the process, with a focus on motivation for joining Lazard and cultural fit. Candidates should prepare to articulate their background and how it aligns with the firm's values, as well as their interest in investment banking.
The interview process includes assessments of candidates' judgment and communication skills, particularly during group discussions and individual presentations. Candidates should be prepared to demonstrate their ability to think critically and collaborate effectively in team settings.
Candidates should expect a fast-paced and intense interview environment, with back-to-back rounds that can be mentally taxing. Maintaining composure and clarity under pressure is crucial, as the interviewers will be assessing both knowledge and stamina throughout the process.
Candidates should prepare for specific topics such as recent market deals, restructuring, and accounting principles, as these often come up in discussions. A solid understanding of current events related to Lazard's business can also be beneficial.