Merrill 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 25 interview experiences · FREE TO READ
Candidate interview experiences
First-hand accounts from people who interviewed at Merrill.
Merrill
Investment Banking Associate
Mid Average Positive experience Accept offer 3 rounds
Interview process
Recruiter call Technical screen Onsite
Interview formats
Behavioral Technical
So, I had 3 rounds of interviews at Merrill Lynch. It was a mix of technical and personal questions. I spoke with Associates, VPs, and Managing Directors. They asked both qualitative and quantitative questions, including stuff about investment banking and how deals are put together. It was a very professional experience.
Confirmed questions4 questions
- Could you explain the three main financial statements?
- Can you tell me a bit about yourself and your background?
- What makes you want to join Merrill Lynch?
Merrill
Investment Banking Analyst
Entry Difficult Neutral experience No offer 3 rounds
Interview process
Take home Phone screen Onsite
Interview formats
Technical Behavioral
It kicked off with an online math skills test. After passing that, I went through a few phone interviews with a good number of technical questions. Once cleared, I had an in-person interview with four people, some focused on technical knowledge and others on personality, and there seemed to be some tricky questions. One interviewer asked me the exact same question twice, and I noticed they did the same with other candidates. I just answered it again calmly, using different words. I messed up some technical questions, which I think is why I didn't pass this final round. The interviewers seemed really tired and annoyed.
Confirmed questions2 questions
- Could you explain what a convertible bond is?
- What is market beta?
Merrill
Investment Banking Analyst
Intern Average Positive experience No offer 2 rounds
Interview process
Recruiter call Phone screen
Interview formats
Behavioral Technical
I applied for a summer internship within BAML. A few weeks after that, I had two phone calls, one with an analyst in Paris and one with an Associate in London. The calls were pretty basic and short, about 20-25 minutes each, with very few questions.
Confirmed questions3 questions
- Can you tell me about your background?
- Why are you interested in BAML specifically, rather than other bulge bracket firms?
- What are the primary valuation methodologies used in investment banking?
Merrill Investment Banker / M&A Analyst Interview Questions
Quoted word for word from Merrill interview reports.
“How would an increase in depreciation impact the three financial statements?”
Read reports →“Explain how to derive a MXN WACC starting from a US$ WACC.”
Read reports →“Could you explain what a convertible bond is?”
Read reports →“Consider a game where you can roll a die up to three times. You can decide to stop after the first roll, the second, or the third, and you get paid the value shown on the die. What's the fair price I should charge you to play this game?”
Read reports →“Could you explain how one might value a gold mining company that has recently acquired a field but has no production as of yet?”
Read report →“Could you explain the reasons behind the recent economic crisis in simple terms?”
Read report →“Could you explain the Discounted Cash Flow (DCF) model?”
Read report →“What are the primary valuation methodologies used in investment banking?”
Read report →“Can you explain a Discounted Cash Flow (DCF) analysis?”
Read report →Formats, difficulty and experience
Across all 25 Merrill interview reports.