Investment Banking Analyst Interview Questions UK: 8 Real Questions and What Interviewers Want

Applying for a Investment Banking Analyst job in the UK? Here is what you are likely to be asked. These questions come from our Investment Banking Analyst question bank of 25 questions, written for UK employers at junior level.

Eight Investment Banking Analyst interview questions, and what the interviewer is thinking

1. Why investment banking, and why do you want to be an analyst in our M&A team specifically?

Why they ask: This is asked in virtually every IB interview to test whether your motivation is genuine and researched.

2. Walk me through the three financial statements and how they link together.

Why they ask: This is the most common technical question and the foundation of all modelling work.

3. Tell me about a recent M&A deal you have followed and what you think of it.

Why they ask: They want evidence of genuine market interest and the ability to analyse a deal's rationale.

4. What are the main valuation methodologies, and when would you use each?

Why they ask: Valuation is the core of analyst work and they want to see you understand the toolkit.

5. If depreciation increases by ten pounds, walk me through the impact on the three financial statements.

Why they ask: A classic test of whether you genuinely understand how the statements interact.

6. What do you think an investment banking analyst actually does day to day?

Why they ask: They are checking you have realistic expectations about the work and the hours.

7. Tell me about a financial model or piece of analysis you built and what you learned from it.

Why they ask: They want concrete evidence of modelling ability beyond theory.

8. Your VP and MD both give you urgent tasks due at the same time and you cannot finish both. What do you do?

Why they ask: Prioritisation and upward communication are vital in a hierarchical deal team.

A sample answer to question 1

Why investment banking, and why do you want to be an analyst in our M&A team specifically?

What I want most at this stage is a steep learning curve, and there aren't many jobs where, within a couple of years, you're building the analysis behind decisions that reshape whole companies. During my internship in a mid-market advisory team, I worked on a sell-side process for a software business, and I loved seeing how the model, the CIM and the buyer conversations all fitted together into a single outcome. I enjoy the technical side, but I also like that it's about judgement and people, not just numbers. As for your team, you've been very active in UK mid-cap public M&A, including several take-privates by sponsors, which is exactly where I'd like to build experience. I also spoke with two of your analysts at a networking event, and both mentioned that juniors get genuine client exposure and real responsibility on live deals, which matters a lot to me.

Common mistake to avoid: Mentioning money or prestige first; Generic reasons that apply to any bank

Want the rest?

Full model answers, key points and common mistakes for all 25 questions are on the Investment Banking Analyst interview questions page. The first five are free, no sign-up needed.