I’m finishing my finance degree in management engineering here in Italy and really want to land an internship in Investment Banking focusing on M&A work. I know the interview process is pretty intense and I want to make sure I’m ready.
I’ve been looking around and there are tons of prep materials out there like the 400 questions from BIWS and WSP’s RedBook. It’s honestly a bit overwhelming with all the options.
Can anyone share what worked best for them when preparing? I’m wondering if there’s a good way to organize my study plan or specific areas I should focus on most. Also curious which resources you found most helpful for getting confident before interviews.
Practice telling stories about deals you’re passionate about! Your Italian market knowledge is a huge advantage - dive into recent European M&A deals and get comfortable discussing cross-border dynamics. You’ve got this!
Skip cramming hundreds of questions - master the fundamentals instead. Nail valuation methods: DCF, comps, and precedent transactions. You’ll need to walk through these models step-by-step under pressure, so practice until it’s second nature. Build simple LBO models from scratch since M&A interviews love throwing modeling tests at you. Stay current with recent deals in your target sectors and have compelling stories ready. Read equity research reports and understand why companies made specific moves. Mock interviews are huge - find someone to drill you on technical stuff and behavioral questions. Most people mess up by not showing genuine interest in specific deals and market trends when they’re talking to interviewers.
Skip the random technical questions and focus on real case studies instead. Pick 3-4 major M&A deals from different sectors and really dig into them - why they happened, what multiples they used, how they financed it, what synergies they found. This way you’re naturally connecting technical stuff with market knowledge.
You also need a solid framework for live case studies in interviews. Most people bomb these because they don’t have a clear method. Practice walking through deals from start to finish - initial screening, evaluation, execution. Hit the key decision points and risks.
Your engineering background is actually a huge advantage over pure finance kids. Show them how you tackle complex problems step by step - that’s what they want to see.
And come prepared with smart questions about their recent deals and where they’re positioned in the market. Shows you actually care about the firm, not just any job.
networking trumps study guides every time. hit up alumni who work in M&A and ask what their interviews were actually like - you’ll get way better intel than any prep book. and don’t skip practicing pitch decks since some firms will have you present mock deals.
Start technical modeling way earlier than you think. I focused too much on memorizing formulas instead of actually building models from scratch - big mistake. Download real 10-K filings and build DCF models for actual companies. It’s messier than textbook examples, but that’s what they’ll test you on. Don’t skip the behavioral prep either. They’ll ask why M&A specifically, so have solid examples of deals you’ve followed and what caught your attention about the strategy. Practice explaining complex stuff simply - if you can’t explain an LBO to your non-finance friends, you’re not ready.