The superday interview is the final and most important hurdle for investment banking candidates. It is traditionally held at the bank’s office and consists of multiple intense rounds of case studies, technical questions, group exercises and presentations, designed to rigorously assess the technical skills, mental abilities, teamwork and communication skills of the candidates. Thorough preparation and extensive practice are crucial for excelling at the superday interview and landing the coveted investment banking job offer. This article provides an in-depth look at the key elements of the superday – typical interview formats, essential tips, and how to systematically prepare for the various question types – with the aim of giving readers a comprehensive guide on investment banking superday mastery.
Case studies examine analytical skills and structuring abilities
Case studies are an integral part of the superday experience, used to assess the candidate’s financial modeling skills, analytical abilities and structuring capabilities. Common formats include building a merger model from scratch, analyzing a deal scenario provided in a slide deck, and proposing an optimal financing structure for a company. Thoroughly brush up on key technical skills like merger modeling, LBO modeling, DCF valuation and sensitivity analysis. Understand the strategic rationale and commercial considerations behind deals. Learn to structure ideas logically and present to interviewers in a clear, convincing manner. Practicing mock cases with ex-bankers is the best way to develop the skills needed to shine.
Technical questions drill into core finance knowledge
Expect a barrage of technical questions on accounting, valuation, corporate finance and markets at the superday. Master the basics thoroughly – DCF, comparables, precedent transactions, LBO modeling, merger consequences, capital structure. Understand valuation intricacies like WACC, APV, terminal value and sensitivity analysis. Brush up on technical knowledge relevant to the group you are interviewing for – FIG, TMT, Healthcare, Industrials. Learn about recent deals and market developments. Go through guides like the 400 IB interview questions to avoid blindspots. Practicing mock technicals under time pressure is essential.
Group exercises demonstrate teamwork abilities
As investment banking is a team-based job, group exercises are used to assess cooperation, leadership and team dynamics. Common formats include group case studies, presentations, in-tray exercises and role play scenarios. Brush up on frameworks for breaking down problems (e.g. MECE) and structuring presentations. Be willing to listen, cooperate and compromise. At the same time, know when to take leadership when required. Stay calm under the pressure of observers watching. Practicing mock group exercises with other candidates prepares you for the dynamics of the real experience.
Acing interviews requires meticulous preparation
Preparing for a banking superday is a mammoth task given the wide range of question types and grueling nature. Create a study plan focused on technicals, mental math, case studies, markets and behavioral/fit questions tailored to the bank. Thoroughly research the firm and interviewers. Enlist ex-bankers for detailed feedback on mock interviews. Get used to thinking on your feet under immense pressure. Proactively network with firm insiders for insights on the superday format and interview style. Show passion for finance and conviction in your career goals. With meticulous preparation and practice, the banking superday can be conquered.
The investment banking superday interview is a challenging yet surmountable obstacle along the path to a coveted front office role. By thoroughly honing technical skills, soft skills and mental fortitude through rigorous practice, candidates can enter the superday with confidence and greatly boost their chances of securing the job offer.