Investment Banking Interview Prep
Land your dream investment banking role at Goldman Sachs, J.P. Morgan, Citi, Morgan Stanley, and more. Built by analysts who ran this exact process and got the offers: 90+ written lessons, 180+ recorded mock answers, and the grading rubrics banks actually use. Prep for networking, first rounds, technicals, and Superdays.
90+ written lessons from networking to M&A
180+ recorded mock interview answers from real analysts
Grading rubrics, question database, and AI practice
Taught by
Tate LiInvestment Banking Analyst, Bank of America
Sanmoy KarmakarInvestment Banking Analyst, Citi
Azat AgishevInvestment Banking Analyst, Morgan Stanley
William YangInvestment Banking Analyst, Lincoln International
Tanishk KhetanInvestment Banking Analyst, J.P. Morgan
Alec NickolovInvestment Banking Analyst, Tidal Partners
Ryyan RehmanInvestment Banking Analyst, Goldman Sachs
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What you'll find in this course
10 courses
196 videos
70 hours
Introduction to Investment Banking
3 modules
10 lessons
3 videos
Investment Banking Networking
3 modules
6 lessons
1 video
Behaviorals
4 modules
33 lessons
25 videos
Tell Me About a Time You Demonstrated Leadership
Tell Me About a Time You Worked With Someone Difficult
Tell Me About a Time You Failed
Additional Story Questions
Mock: A Conflict With Your Team
Mock: A Time You Showed Leadership
Mock: Going Above and Beyond
Mock: Juggling Multiple Deadlines
Mock: A Time You Failed
Mock: A Time You Solved a Problem
Mock: Where Do You See Yourself in 5 Years?
Mock: An Ethical Dilemma
Mock: A Decision With Limited Information
Accounting
6 modules
52 lessons
33 videos
Income Statement: Revenue to Gross Profit
Income Statement: Operating Expenses to EBIT and EBITDA
Income Statement: Depreciation and Amortization
Income Statement: Interest, Taxes, and Net Income
Mock: Income Statement Line Items
Mock: Cash Accounting vs. Accrual Accounting
Mock: Cash Collected in Advance, Why Not Revenue?
Mock: Capitalizing vs. Expensing
Mock: Depreciation vs. Amortization
Balance Sheet: Assets
Balance Sheet: Liabilities
Balance Sheet: Shareholders' Equity
Balance Sheet: Net Working Capital
Mock: Balance Sheet Line Items
Mock: If You Could Only Pick Two Statements
Mock: What is Working Capital?
Mock: What is Deferred Revenue?
Mock: Can Shareholders' Equity Go Negative?
Mock: Prepaid Expenses vs. Accounts Payable vs. Accrued Expenses
Mock: Goodwill and Intangibles Over Time
Three-Statement Scenarios: Single-Event Walkthroughs
Three-Statement Scenarios: Multi-Step Walkthroughs
Mock: Walk Me Through $10 of Depreciation
Mock: Stock-Based Compensation Increases by $100
Mock: Distressed Factory Sale
Coming soon
Mock: Issuing $100 of Common Stock
Mock: Dividends or Share Buybacks
Mock: Hurricane Factory Write-Down
Mock: Buying $400 of Inventory
Mock: A Customer Orders but Doesn't Pay in Cash
Mock: Prepaid Utilities Walkthrough
Mock: Raise $100 of Debt, Buy $100 of PP&E
Mock: Straight-Line Depreciation Plus Interest, Year 1
Mock: Upfront Subscription Payment
Mock: One Month of Service Delivered
Mock: Inventory Bought With Debt
Mock: Selling the Inventory, Multi-Step
Enterprise Value & Equity Value
3 modules
36 lessons
30 videos
Enterprise Value and Equity Value Overview
Free
Enterprise Value vs. Equity Value
Free
Mock: What EV and Equity Value Conceptually Mean
Free
Mock: Current vs. Implied Enterprise Value
Mock: The House and Mortgage Analogy
Mock: Can Equity Value Be Negative?
Mock: Can Enterprise Value Be Negative?
Mock: Equity Value vs. Shareholders' Equity
The Bridge Between EV and Equity Value
Dilutive Securities and Fully Diluted Share Count
Mock: Why Use Both EV and Equity Value?
Mock: Walk From Equity Value to Enterprise Value
Mock: Walk From Enterprise Value to Equity Value
Mock: Six Line Items on the Bridge
Mock: Why Add Debt on the Bridge?
Mock: Why Add Minority Interest?
Mock: Why Subtract Cash?
Mock: Basic vs. Diluted Shares Outstanding
Mock: Calculating Fully Diluted Shares
Mock: Diluted Equity Value With Options
Mock: Diluted Shares With Convertible Bonds
Mock: Basic or Diluted Shares in an Acquisition?
Mock: Dilutive Securities and Examples
Mock: Solving the Bridge for Enterprise Value
Mock: Can Equity Value Equal Enterprise Value?
How Business Events Affect EV and Equity Value
Valuation Multiples: Pairing Metrics With EV vs. Equity Value
Mock: Why Financing Events Don't Affect Current EV
Mock: Issuing $200 of Common Shares
Mock: Share Issuance Plus Dividends
Mock: Stock Proceeds Used for an Acquisition
Mock: Preferred Stock Funding PP&E
Mock: Buying Inventory With Cash
Mock: Collecting $200 of Cash Upfront
Mock: EV or Equity Value in Acquisitions?
Mock: Is EV the Same as the Purchase Price?
Valuation
4 modules
55 lessons
44 videos
Time Value of Money
Beta
Cost of Equity and CAPM
Cost of Debt
WACC
Mock: What Happens to WACC When Leverage Increases
Mock: What the Discount Rate Means
Mock: Cost of Equity, Intuitively
Mock: What WACC Means Conceptually
Mock: Calculating the Cost of Equity
Mock: Calculating the Equity Risk Premium
Mock: A Beta of 1
Mock: What Beta Means Intuitively
Mock: Can Beta Be Negative?
Mock: What a Beta of 0 Means
Mock: When Higher WACC Means Higher Valuation
Mock: Unlevering and Relevering Beta
Mock: The Levered Beta Formula
Mock: Calculating WACC
Mock: What the Tax Shield Means
Mock: Why Debt is Cheaper Than Equity
Unlevered Free Cash Flow
Terminal Value
Mock: Walk Me Through a DCF
Mock: How Would You Value a Cow?
Mock: Why You Might Not Use a DCF
Mock: Walk From Revenue to Unlevered Free Cash Flow
Mock: Calculating Terminal Value
Mock: Fixing a DCF That Seems Wrong
Mock: Signs of Bad DCF Assumptions
Mock: Unlevered vs. Levered DCF
Mock: Why SBC Isn't Added Back to FCF
Mock: Three Ways Taxes Impact the DCF
Mock: Explicit Forecast Period vs. Terminal Period
Mock: Perpetuity Growth vs. Exit Multiple
Mock: Sanity-Checking Terminal Value
Mock: After Implied Enterprise Value, What's Next?
Mock: Sum-of-the-Parts Valuation
Trading Comps: Building the Analysis
Precedent Transactions: How They Work
Mock: When a DCF Beats Comps
Mock: Cashiers vs. Vending Machines
Mock: The Most Common Valuation Multiples
Mock: Selecting Comps and Precedent Transactions
Mock: Applying Comps and Transactions
Mock: Same Buyer, Drastically Different Multiples
Mock: Tech vs. Industrials at the Same EBITDA
Mock: Valuing a Pre-Revenue Startup
LBO
4 modules
36 lessons
26 videos
Returns Metrics: IRR and MOIC
Transaction Assumptions and Purchase Price
Sources and Uses of Funds
Debt in an LBO: Capital Structure and the Debt Schedule
Mock: Walk Me Through a Basic LBO Model
Mock: The Assumptions That Matter Most
Mock: Calculating IRR
Mock: Calculating MoM
Mock: The Rule of 72, 114, and 144
Mock: True Purchase Price and Sources & Uses
Mock: Sizing the Debt in a Buyout
Mock: What is PIK Interest?
Mock: After-Tax Cost of Debt Drill
M&A
4 modules
39 lessons
29 videos
M&A Overview
Free
Why M&A Deals Happen
Free
The M&A Process
Free
Mock: Walk Me Through a Merger Model
Free
Mock: Why Acquire a Competitor?
Free
Mock: The Purpose of a Merger Model
Mock: Merger vs. Acquisition
Mock: Five Strategic Reasons to Merge
Mock: Sell-Side Process Walkthrough
Mock: LBO vs. Strategic Acquisition
Accretion and Dilution
The Math Behind Accretion / Dilution
Building the Pro Forma Income Statement
Mock: The All-Stock Accretion Test
Mock: Why Deals Are Accretive
Mock: Why Deals Are Dilutive
Mock: All-Debt Deal, Accretive or Dilutive?
Mock: Why EPS Matters So Much in M&A
Mock: Foregone Interest on Cash
Mock: P/E 25x Buys P/E 15x
Mock: EPS Accretion Drill, Share Math
Mock: Financing Mix Accretion Drill
Mock: All-Debt Deal Drill
Mock: Combined EPS Drill
Mock: Pro Forma Metrics Drill
Mock: Combined EV Drill
Mock: Combined Multiples and Deal Financing
Full-Length Mock Interviews
5 lessons
5 videos
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