Breaking Into Wall Street Investment Banking Interview Guide Pdf [upd] -

Breaking into Wall Street: Investment Banking Interview Guide

Overview

This concise guide covers what to know, how to prepare, and a sample study plan to pass investment banking interviews (analyst/associate). Use it to create a PDF or print-ready document.

The Most Overlooked Sections of the BIWS Guide

Most candidates skip the “Advanced Brainteasers” and “Industry Nuances” chapters. That is a mistake. In 2025, elite boutiques (Evercore, Centerview, Lazard) have revived “strange questions” to filter for raw intellect. Use same multiples but include control premium (typically

B. Precedent Transactions

  • Use same multiples but include control premium (typically 20-30% above trading comps).
  • Outdated (version 2.0 vs current 5.0).
  • Missing pages (often the last 100 pages on LBOs).
  • Infected with malware (yes, fake PDFs are a known vector).

The guide typically breaks preparation into four critical categories: Outdated (version 2

  1. Add target’s net income to acquirer’s.
  2. Subtract interest expense on new debt (after tax).
  3. Add synergies (net of taxes).
  4. Divide by new share count.

Core Concepts: Deep dives into Accounting, Enterprise and Equity Value, Valuation (DCF, Public Comps, Precedent Transactions), and LBO modeling. Enterprise and Equity Value

Beyond the PDF: The Final 10% That Secures the Offer

The Breaking Into Wall Street guide will get you to the final round (superday). But to convert that superday into an offer, you need three things the PDF cannot provide: