Very Difficult Interview
I applied online and the process took 2 weeks - interviewed at Lazard in September 2013.
Interview Details – The interview process for an internship implies 4 rounds : two with analysts and two with associates. Since it was for the Telecoms and Tech team, the interviews were very oriented on the strategic aspects of the major actors in Telecoms (AT&T, Verizon, Vodafone, and in France : Orange, SFR, Bouygues, and Free). The recent disposal of Vivendi of its shares in Maroc Telecom (IAM), was the main subject of the interviews, since I knew from an intern that the team was currently working on the deal. concerning the technical part: valuation methods, and accounting cases were briefly discussed.
Interview Question – The most difficult question was for me: what do you put in a pitch presentation ? Answer Question
I applied online and the process took 1+ week - interviewed at Lazard in December 2012.
Interview Details – One interview round with about 4 bankers - 2 analysts, 1 associate, 1 vp. Interview process went by pretty standard - walk me through your resume, questions about high school, university, previous internships, extra curricular activities, why I want to do investment banking, why I choose to apply for Lazard and what I want to gain through that internship. Technical questions are fairly easy and so are the brain teasers
Interview Question – It's 12:15, how many degrees are the minute and hour hands apart? View Answer
Negotiation Details – not applicable
I applied online and the process took 2 weeks - interviewed at Lazard in September 2011.
Interview Details – Invitation for interviews came the same day I sent my application. In total 4 Interviews (all levels of hierarchy), very pleasant people. Fit and technical quesitons (valuation, corporate finance) in all interviews.
Interview Question – Please explain the APV valuation method conceptionally Answer Question
I applied online and the process took 3 weeks - interviewed at Lazard in December 2011.
Interview Details – No CV is required by Lazard in the UK. 4 competency questions (including one on valuation were submitted), and was invited very quickly to sit numerical and verbal tests.
The same day as the tests were completed, I was invited for a first round interview to take place a week later. This was a 1:1 interview with HR. It covered standard competency questions but with a bias towards Lazard's defining principles - I was asked numerous questions about times I had acted honestly and with integrity. There was also some very, very basic technical questions (difference between a merger and an acquisition, signs of a successful acquisition/merger, etc).
Upon being successful in this round, I was invited to an AC. Unlike other banks ACs, Lazard's do not involve interviews, and there is a final stage after this. The AC consisted of a resit of the numerical test, a group exercise where we were each given a different company to consider as an acquisition target, and a solo presentation. The group exercise did not require any valuation methodologies, was was more about operational synergies. The solo presentation was a roleplay where I was the IB, and involved somewhat more of a technical element, but still nothing at all detailed.
Final round involved 2 interviews with VPs. These were 30 minutes each and were probably the 'deepest' interviews I had in a bank. Standard competency questions were used for the first few minutes but then each went with its own flow. In one they pushed my technical knowledge as far as they could take it but without trying to shake me.
My overall impression was that Lazard's primary concern with candidates is commercial awareness. This was the defining principle of the extended interviews, and I was asked to go in depth on M&A deals I was interested in and how they affected the businesses involved/the rationale behind them.
Interview Question – Please tell us about a time you have acted with integrity. Answer Question
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