Stephens 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 62 interview experiences · FREE TO READ
Candidate interview experiences
First-hand accounts from people who interviewed at Stephens.
Stephens
Investment Banking Analyst
Entry Average Neutral experience No offer 3 rounds
Interview process
Recruiter call Phone screen Onsite
Interview formats
Technical Behavioral
It was a pretty simple process. I had an initial screen, then another phone interview, and finally a superday. It wasn't too difficult, but they really focus on culture, so networking is key. Overall, it was a good experience and I liked the people I spoke to, but it didn't work out in the end.
Confirmed questions1 question
- Can you explain the three financial statements?
Stephens
Investment Banking Analyst
Intern Average Positive experience Accept offer 3 rounds
Interview process
Recruiter call Technical screen Onsite
Interview formats
Behavioral Technical
I had a really good experience with the interview process. Everyone I talked to was nice and helpful. A big part of it was about fit and if I'd be a good cultural match. The technical part wasn't too hard, just a basic check.
Confirmed questions3 questions
- What makes you interested in Stephens?
- Why are you interested in our Dallas office?
- Could you walk me through your background?
Stephens
Investment Banking Analyst
Entry Average Positive experience No offer 3 rounds
Interview process
Recruiter call Phone screen Onsite
Interview formats
Behavioral Technical
So far everything's been on Zoom. There are 3 rounds total. The first round is with an associate, the second with a VP, and the third is the Superday. I've made it to the second round and they've only asked me basic stuff. I reckon the first round is 100% behavioral and 0% technical. The second round is probably 60% behavioral and 40% technical. The Superday is gonna be 100% behavioral and 100% technical, haha.
Confirmed questions4 questions
- What made you decide to apply to Stephens specifically?
- What led you to pursue Investment Banking?
- Can you describe the role of an investment banker?
Stephens Investment Banker / M&A Analyst Interview Questions
Quoted word for word from Stephens interview reports.
“What is the impact on the financial statements if depreciation increases by 10?”
Read reports →“What is the impact of taxes on a Discounted Cash Flow analysis?”
Read reports →“Describe the impact on free cash flow when net working capital is increased.”
Read reports →“How do you determine the Weighted Average Cost of Capital (WACC)?”
Read reports →“What are the three primary methods for valuing a company?”
Read report →“If we enter at 10x revenue with 50% equity, a $100 million topline, and 80% free cash flow, what would be the return multiple?”
Read report →“Can you explain how to perform a Discounted Cash Flow (DCF) analysis?”
Read report →“Can you describe the main factors that influence the Internal Rate of Return (IRR) in a Leveraged Buyout (LBO) scenario?”
Read report →“What financial metrics would you use to assess this company, or its various divisions or locations?”
Read report →Formats, difficulty and experience
Across all 62 Stephens interview reports.