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CIBC 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 34 interview experiences · FREE TO READ

2.2 Rounds average
Average Typical difficulty
58.8% Positive experience

Candidate interview experiences

First-hand accounts from people who interviewed at CIBC.

Showing 3 of 34
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Investment Banking Analyst

Finance · nearly a year ago

Intern Average Neutral experience No offer 1 round
Interview process
Recruiter call Phone screen
Interview formats
Technical Behavioral

This was just the first round interview for an off-cycle position, and I wasn't very prepared a couple years ago. The interview was quite strange, getting an email at 10 am asking for a phone call at noon. The interviewer was impersonal and barely asked about my resume, education, or experience, then quickly moved to some basic technical questions. The whole call lasted only 15-20 minutes, and while most technicals were easy, I did stumble on a couple of harder ones.

Confirmed questions1 question
  • Can you explain a NAV model?
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CIBC

Investment Banking Associate

Finance · more than a year ago

Mid Average Negative experience No offer 3 rounds
Interview process
Recruiter call Technical screen Technical screen Technical screen
Interview formats
Technical Technical Technical

The interview process was completely disorganized and unprofessional. There were three video interview rounds. The first was with an associate who asked mostly technical questions and giggled with his girlfriend on camera during my answers. The second round featured a director who was late, unprepared, and unclear, also asking primarily technical questions. In the third round, two directors, both late, and one not even on camera, focused on very specific technical and industry questions. I was surprised I advanced given how difficult each interviewer was to connect with, their lack of professionalism, and disregard for the schedule. They showed almost no interest in my background, and my frustration was likely evident.

Confirmed questions1 question
  • What manual adjustments would you make to adjust enterprise value?
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CIBC

Investment Banking Analyst

Finance

Entry Easy Positive experience No offer 3 rounds
Interview process
Recruiter call Technical screen Onsite
Interview formats
Behavioral Technical

The process had 3 rounds: first an HR chat, then interviews with 2 Analysts, and finally a Superday. The HR round was purely behavioral. The Analyst interviews were a mix of technical and behavioral. The Superday focused on behavioral questions and some market-related ones. While none of the individual interviews were particularly hard, the intensity picked up significantly after the initial HR screening.

Confirmed questions3 questions
  • Could you explain TVM?
  • What's the difference between EV/EBITDA and EV/EBIT?
  • Can you pitch a stock to me?

CIBC Investment Banker / M&A Analyst Interview Questions

Quoted word for word from CIBC interview reports.

What is the angle between the clock hands at a given time?

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If a factory was bought with debt in year 4, what effect would that have on a DCF model's outcome?

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Can you explain a $100 debt issuance in Year 0? For Year 1, let's assume half the interest is paid in cash and half as PIK, with a 10% interest rate and a 30% tax rate.

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How do you calculate the Weighted Average Cost of Capital (WACC)?

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What are the potential reasons for differences between EV/EBITDA and P/E multiples?

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Why did a company with positive EBITDA suddenly go bankrupt? Give two potential reasons.

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How would share prices be affected by different merger situations?

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Formats, difficulty and experience

Across all 34 CIBC interview reports.

Interview formats

Technical 47.4%
Behavioral 39.5%
Case 6.6%
Presentation 3.9%
Other 2.6%

Interview difficulty

Easy 11.8%
Average 55.9%
Difficult 32.4%

Candidate experience

Positive 58.8%
Neutral 29.4%
Negative 11.8%