Investment Banking Summer Analyst

Status
Group/Division/Type
Investment Banking
City
New York
Interviewed
January 2014
Overall experience
Very Positive
Difficulty
Average

General Interview Information

Outcome
Accepted Offer
Interview Source
Applied Online
Length of Process
Less than 1 month

Interview Details

What did the interview consist of?
Phone Interview
1 on 1 Interview
Please describe the interview / hiring process.
I started communications with the firm by reaching out to to recent grads from my university who currently work there (around early-mid December). One forwarded my resume to HR.
In mid-January I got invited for a first-round phone screening. I was interviewed by an alumnus from my school who worked in the NY office for years and is now at a regional office. I think that in general with their interviews, they try to get as many alumni as possible to interview you, which makes for a nice conversation. First round consisted of only basic technicals (reasons to issue equity vs. debt, walk me through a DCF). The vast majority of it was just a really great conversation; we hit it off well.
Less than 12 hours later I got an email from HR that I was invited to a superday. The superday that they had scheduled interviewed with ~7 first round interviews, so I asked to reschedule it, and they were happy to do so. They asked for my preferences and we scheduled a date from there. Of any bank I've experienced time conflicts with, Lazard was by far the most accommodating. It was such a large relief during such a busy time in my life, and they made the superday entirely for me, which I found to be a really nice gesture on HR's part.
My superday was ~1.5 weeks after my initial phone screening.
I actually rode the elevator with Ken Jacobs (CEO of Lazard) headed up to my interviews, so that was a nice surprise. I was greeted by HR, who sat down with me for 15 minutes to chat and asked if I had any questions. Again, really sweet and unlike my experiences in BB superdays where they shuffle you around like a herd of cattle without being too warm and welcoming.
The superday consisted of 4 interviews with people across different groups (FIG, TMT, Power & Energy, Restructuring); it was nice to get that exposure from the start.
First interview was slightly nerve-racking but we hit it off being from the midwest. Her technicals were mostly conceptual and we talked through them.
Second interview was also an alumnus from my school and a good friend of my first-round interviewer, so that was great to talk about. I remember the technicals being pretty standard from the guides and asking basic questions about WACC.
Third interview was a guy that was around my age (a young associate) and I'm pretty certain he hadn't done interviewing much before because he was way too impressed when I knew some frequently-used brainteasers. We talked about geeky things like programming for most of the interview.
The final interview was the most enjoyable one I've ever had in my life. He didn't believe in technicals because he didn't think it measured a person; he thought it was about a person's character. We talked about some of my travel experiences (he and his wife honeymooned at the same location as where I volunteered for a summer). I honestly left that interview thinking, "I really, really hope I get this offer!"
HR had a quick 5-minute follow-up chat and walked me out. Again, super sweet people.
The next day, I was in the regional city where my first-round interviewer was doing some other superdays, and that interviewer called me up saying she had a surprise for me. At the time, I didn't put 2 and 2 together so I had no idea what the surprise could have been; I was just exhausted from interviewing over the course of that day. I went to her office and she introduced me to everyone there, and then in her office was the offer letter. It was such a sweet gesture, and she brought me into the conference room after all was said and done to chat about my opportunities.
I gave it a couple of days--I wanted to be absolutely sure. After the first day I was dying to get the acceptance letter sent to them. I called the HR woman that was so sweet to me, my first-round interviewer, and the 2 alumni who I was in contact with originally as soon as I accepted the offer. Happy ending!
Overall Company Rankings
Blurred content of Overall Company Rankings Blurred content of Overall Company Rankings

Want Access to these Lazard Middle Market Overall Company Rankings?

  • Free 1 month access by adding just 1 salary datapoint here
  • REAL salary bonus data across 1,000+ companies
  • Plus free 1 month access to 10,000+ interview insights

Was this interview insight helpful?

How many stars would you give to this interview insight?

2 Votes | Avg: 5

Other Interview Data

Associate (Vice President)
Goldman Sachs, CHICAGO, 2016
Trader (Vice President)
HSBC, New York, 2022
Vp (Vice President)
Morgan Stanley, New York, 2021
Vp (Vice President)
Morgan Stanley, New York, 2021
Quantitative Strategist (Vice President)
Morgan Stanley, NA, 2020

Unlock WSO Database

1 month free. Add your own pay data.