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Northern Trust Investment Banking Analyst Interview Questions

The questions to prepare for a Northern Trust Investment Banking Analyst interview. Questions from real interview reports rank first. Updated daily.

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1
Finance & AccountingStart here. 6 questions · ~48 min
Comps vs PrecedentsHard

Compare trading comps and precedent transactions, quantify the control premium, and recommend how to triangulate valuation.

ValuationPrecedent TransactionsComparable CompaniesNorthern Trust
Explain LBO MechanicsHard

Build a five-year paper LBO and calculate sponsor MOIC and IRR, including downside and upside sensitivities.

ValuationLBOFinancial ModelingNorthern Trust
Weighted Average Cost of CapitalEasy

Define WACC, identify its capital components, and explain its role as a valuation discount rate.

ValuationWACCNorthern Trust
Enterprise Value vs Equity ValueHard

Explain the EV-to-equity-value bridge and identify when each valuation measure is most informative.

Valuationequity valueenterprise valueNorthern Trust
Discounted Cash Flow WalkthroughHard

Build an unlevered DCF, calculate implied equity value per share, and test sensitivity to WACC and terminal growth.

ValuationDCFWACCNorthern Trust
Link the Three Financial StatementsMedium

Explain how net income, cash flow, retained earnings, and balance-sheet balances connect and how to verify a three-statement model ties.

Accounting FundamentalsFinancial StatementsThree-Statement ModelingNorthern Trust
2
More topics2 questions · ~16 min
Deal or Industry Trend InterestMedium

Tests ownership, analytical judgment, and communication through a specific deal or industry trend.

industry knowledgebankinganalytical mindsetNorthern Trust
Motivation for Investment BankingEasy

Tests whether the candidate has specific, informed, and credible motivation for investment banking.

career goalsbehavioral questionsinvestment bankingNorthern Trust

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