Morgan Stanley 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 313 interview experiences · FREE TO READ
Candidate interview experiences
First-hand accounts from people who interviewed at Morgan Stanley.
Morgan Stanley
Investment Banking Associate
Mid Average Positive experience Accept offer 3 rounds
Interview process
Recruiter call Technical screen Onsite
Interview formats
Technical Behavioral
I had an HR round, then spoke with a senior associate and the hiring manager. There wasn't a case study, it was all pretty straightforward. You should prepare for technical and behavioral questions. Make sure you know why you want the role and what kind of deals the group works on.
Confirmed questions1 question
- Could you describe a deal you worked on in detail?
Morgan Stanley
Investment Banking Analyst
Intern Difficult Negative experience No offer 3 rounds
Interview process
Recruiter call Technical screen Phone screen Onsite Background check Offer
Interview formats
Technical Behavioral Case
First round was great. Likable associates with simple technicals and behaviorals. Very get-to-know-you. Second round was awful. 3 back to back to back 20-min interviews in a poorly organized Zoom room. My interviews ended up being ~25, ~15, and ~12 minutes. Pretty sure the last guy almost fell asleep on me. With VPs & Executive Directors. 1 technical, 1 fit and 1 mix (tech-specific) interview. Final round: Superday. Not sure what this was like, didn't make this round. Intense, I imagine.
Confirmed questions2 questions
- Can you discuss a tech trend that interests you, name a company involved in it, and share your outlook for that company?
- Given the current macroeconomic conditions, what is your perspective on the future of M&A and IPOs?
Morgan Stanley
Investment Banking Analyst
Entry Difficult Positive experience No offer 5 rounds
Interview process
Recruiter call Technical screen Onsite Panel Presentation Background check Offer
Interview formats
Technical Case Presentation Behavioral
Investment banking interviews are pretty intense and have many rounds. They really check your technical skills, how much you know about the market, and if you'd fit in with the team. You should expect them to ask technical questions about valuation, accounting, and market trends. They'll also ask you behavioral questions about how you work in a team and how resilient you are. You might have panel interviews, case studies, and they might even stress-test you. To do well, you need to prepare, stay calm, and communicate really well.
Confirmed questions2 questions
- Can you pitch a stock to me?
- Or, tell me about a macroeconomic theme.
Morgan Stanley Investment Banker / M&A Analyst Interview Questions
Quoted word for word from Morgan Stanley interview reports.
“We each roll a 6-sided die. If my roll is higher than yours, I win. What is the probability of me winning?”
Read reports →“What would be the impact on the financial statements if depreciation increased by 10?”
Read reports →“Regarding the LatAm group, can you name the countries in Latin America with the highest GDP?”
Read reports →“If you had the choice between receiving $1 million now or $100,000 annually forever, at what interest rate would you be indifferent between the two options?”
Read reports →“If a company with a lower price-to-earnings ratio buys a company with a higher price-to-earnings ratio, would that be dilutive or accretive?”
Read report →“Can you explain how purchasing a factory for $100 of debt impacts the three financial statements?”
Read report →“What is the effect on TEV if you pick up $100 from the street?”
Read report →“I have a brain teaser for you, can you divide 1/13 in decimal form?”
Read report →“What if there were 1000 total cupcakes, with 900 of one flavor and 100 of the other?”
Read report →Formats, difficulty and experience
Across all 313 Morgan Stanley interview reports.