Common finance interview questions

Finance interviews are high pressure by design. You walk into a room, sit across from someone who has seen hundreds of resumes just like yours, and have ten to twenty minutes to show that you belong at the table. Most candidates know the basics. Only a few know how to actually perform.

This week, we break down what the interview process looks like and how to approach the questions that actually matter.

• 📖 The Five Most Common Questions

• 🔍 Available Internship Positions

• 🎯 How to Prepare and Stand Out

— Investor Briefcase Team

Most finance interviews follow a similar structure. The first round is usually a short phone or video interview. It lasts about twenty minutes and is used to test your background, communication, and basic technical knowledge.

If you perform well, you move on to a series of final round interviews. This typically consists of multiple back-to-back interviews with professionals across different levels of the firm. Some interviews are purely technical. Others focus on behavioral questions, motivation, and culture fit. The structure may vary slightly by firm, but the core questions rarely change.

Here are five questions that you should always expect and how to approach them with confidence.

Walk me through a DCF

This is a must-know. Start by explaining how you project free cash flows. Then describe how to calculate the terminal value and discount everything using the weighted average cost of capital. Finish by adjusting for net debt to arrive at equity value. The key here is structure. Take your time, and avoid rushing through steps. A calm, logical walkthrough shows more skill than reciting memorized lines.

How do the three financial statements connect?

This question tests your understanding of how a business actually works. Net income flows from the income statement into retained earnings on the balance sheet and serves as the starting point for the cash flow statement. Adjustments like depreciation, working capital changes, and capex all affect cash. That cash balance then updates on the balance sheet. To stand out, explain why these connections matter in real scenarios by using examples from previous financial models you’ve worked on.

What is enterprise value and how is it different from equity value?

Enterprise value reflects the full value of a business, including debt. Equity value is what belongs to shareholders. To get enterprise value, you add debt and subtract cash from equity value. Candidates who stand out explain how each is used in comps or in deal structuring.

Why would a company have negative working capital?

Some companies collect payment before paying suppliers. This creates negative working capital. It’s common in retail and subscription models and can be a sign of strong cash flow.

Tell me about a time you solved a problem

This is your chance to prove you can think and take ownership. Choose a specific situation. Explain the context, what action you took, and what the result was. Great candidates keep it short and focused, but also reflect on what they’ve learned.

These questions come up in nearly every interview, but few candidates answer them well. What matters is not just what you say, but how clearly you say it. If you can explain these concepts in your own words, apply them to real situations, and stay composed, you’ll put yourself ahead of most of the competition.

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Standing out in finance interviews is less about perfection and more about clarity. Interviewers want to see that you understand the fundamentals and can explain them under pressure. Focus on the core topics like DCF, valuation, and accounting flows. Learn how to walk through each concept step by step using your own words. The goal is to sound confident without sounding rehearsed.

You also need to prepare your story. Be ready to explain why you are interested in the role and how your background connects to it. Practice walking through your resume in under two minutes. Have a few strong examples ready that show how you solve problems, lead others, or handle setbacks. These will help you answer any behavioral question that comes your way.

Research the firm. Learn how they operate, what they focus on, and why that matters to you. During the interview, stay present and think out loud. If you get stuck, take a breath and work through it. Interviewers care more about how you think than whether you get the answer right. After the interview, send a short thank-you note. Mention something specific you discussed. That small effort helps you leave a lasting impression.

If you learn the core questions, practice explaining your thinking, and prepare with intention, you will walk into the room with a real edge. One strong interview can open the door to your entire career. Make it count.

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