Capstone Partners Investment Banker / M&A Analyst Interview Questions
& Process
Real candidates share what happened, how many rounds they had,
and how the experience turned out.
Based on 10 interview experiences · FREE TO READ
Candidate interview experiences
First-hand accounts from people who interviewed at Capstone Partners.
Capstone Partners
Investment Banking Analyst
Entry Average Positive experience No offer 3 rounds
Interview process
Recruiter call Technical screen Onsite
Interview formats
Behavioral Technical
The interview process started with a 2v1 with an analyst and associate for the first round. The second round was the same, and then the third round was with a VP and MD. It was light on technical questions, mostly focusing on cultural fit, so be ready for that.
Confirmed questions1 question
- Can you walk me through a discounted cash flow analysis?
Capstone Partners
Investment Banking Analyst
Entry Average Positive experience Accept offer 5 rounds
Interview process
Recruiter call Phone screen Take home Presentation
Interview formats
Behavioral Technical Case Presentation
Started chatting in Feb for an Analyst/Associate role with an August start. COVID hit, so talks paused, and the team reshuffled, making it definitely an Analyst role. Pretty much all interviews were 1:1 phone chats with everyone on the team. Some interviews were all about behaviorals, others about fit and why I wanted the job, and some were technical. They didn't give a heads-up on what they'd focus on, so I had to be ready for anything from the jump. I eventually had a case study over the weekend: forecasting 3 financial statements to build a DCF and create a PPT. They gave me a partly filled template and a CIM to help with assumptions. I think what mattered most was a really polished presentation (like no Excel gridlines, consistent number formatting) and really knowing my assumptions inside and out (not just saying +5% growth, but having a specific view on individual business unit performance driving that growth).
Confirmed questions3 questions
- What is your motivation for pursuing Investment Banking?
- What are your reasons for choosing Capstone?
- Could you explain how to perform a Discounted Cash Flow (DCF) analysis?
Capstone Partners
Investment Banking Analyst
Entry Average Neutral experience No offer 2 rounds
Interview process
Recruiter call Technical screen Onsite Offer
Interview formats
Technical Behavioral
I applied through the on-campus process. My first round was with an analyst and it was pretty straightforward. It was a mix of technical and non-technical questions. They asked a lot about accounting, specifically how the 3 statements link together, which caught me off guard. Be ready to explain why you're interested in investment banking and why you want to work at a boutique investment bank.
Confirmed questions4 questions
- Can you tell me why you are interested in investment banking?
- Could you walk me through a Discounted Cash Flow (DCF) valuation?
- Which valuation model typically results in the highest valuation?
Capstone Partners Investment Banker / M&A Analyst Interview Questions
Quoted word for word from Capstone Partners interview reports.
“What happens to the three financial statements if depreciation expenses increase?”
Read reports →“Can you explain how $10 of depreciation impacts the three financial statements?”
Read reports →“Which valuation model typically results in the highest valuation?”
Read reports →“Can you list the three main financial statements, explain what information each provides, and how they are linked together?”
Read reports →“Could you explain what the three financial statements are?”
Read report →“Could you explain a Discounted Cash Flow (DCF) analysis?”
Read report →“Could you explain how to perform a Discounted Cash Flow (DCF) analysis?”
Read report →“Tell me about the three financial statements.”
Read report →“Could you walk me through a Discounted Cash Flow (DCF) valuation?”
Read report →Formats, difficulty and experience
Across all 10 Capstone Partners interview reports.