Breaking Into Wall Street Investment Banking Interview Guide Pdf Portable Here

Memorize basic valuation formulas (WACC, Free Cash Flow, Enterprise Value).

Pro tip from the guide’s preface: “Don’t just read. Cover the answer column with your hand and speak the answer aloud. If you hesitate, you haven’t learned it.”

Equity Value + Debt + Preferred Stock + Minority Interest - Cash Represents the true cost to acquire the entire business.

Every bullet point must follow the Action + Context + Result framework. Quantify your achievements (e.g., "Analyzed 15+ target companies, resulting in a narrowed buy-side shortlist for senior leadership").

Valuing a company based on the trading metrics of similar, publicly traded peers. Memorize basic valuation formulas (WACC, Free Cash Flow,

Debt / EBITDA – above 6x is risky.

Project Unlevered Free Cash Flows (UFCF) over a forecast period (typically 5 to 10 years).

Prepared 5 STAR stories covering leadership, failure, and grit Memorized links between the 3 financial statements Valuation Can explain DCF, Public Comps, and Precedents from scratch M&A / LBO Understands mechanics of Accretion/Dilution and LBO returns Markets

The PDF doesn't ask you, “Why did you transfer from pre-med to finance?” That is a landmine. If you have a non-traditional background, you need a 90-second narrative that proves you aren't risky. The PDF doesn't write that for you. If you hesitate, you haven’t learned it

The Golden Question: "How does a $10 increase in depreciation affect the three statements?" Assume a 40% tax rate. Income Statement

A time you managed conflict within a group to deliver a project.

The is not just a study tool; it is a comprehensive preparation roadmap designed to give you an unfair advantage in a competitive market. By focusing on the exact questions asked by top firms, this PDF helps candidates transition from a student mindset to a professional investment banker mindset.

Your (finance major, non-target liberal arts, etc.) Valuing a company based on the trading metrics

I'll share the frameworks and focus areas so you can build your own personalized study plan. If you're looking for a single PDF, you won't find a one-size-fits-all guide here. Instead, you'll learn how to assemble the best resources for your own "ultimate study guide."

From Citi to Morgan Stanley: How to get into investment banking

Analyzing what buyers historically paid for similar companies. This usually yields the highest valuation due to the inclusion of a control premium and synergy assumptions.

An LBO involves a private equity firm acquiring a company using a significant amount of borrowed money to fund the purchase.