Lazard Interview Questions & Reviews
Getting an Interview
- Popular Job Titles:
- Analyst (6)
- Investment Banking Analyst (6)
- Intern (5)
- Summer Analyst (3)
- Investment Banking Summer Analyst (2)
- Associate (2)
- Investment Banking Associate (1)
- M&A Intern (1)
- Investment Banking Intern (1)
- M&A Summer Analyst (1)
- M&A Analyst Intern (1)
- Summer Advisory/IBD Analyst (1)
- Summer Internship (1)
- Graduate Analyst (1)
Very Difficult Interview
Intern Interview (Positive Experience; 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
Investment Banking Summer Analyst Interview (Neutral Experience; Difficult Interview)
I applied through college or university and the process took 2+ weeks - interviewed at Lazard in February 2013.
Interview Details – Applied through college career site. At first, I was declined a interview, but later on accepted an interview. Met with a 3rd year analyst and 1st year associate. They seemed to be playing good cop/bad cop. Asked standard behavioral and technical questions but seemed pretty uninterested in being there interviewing.
Interview Question – Which one has a higher discount rate, DCF or LBO? View Answer
Anonymous Interview (Neutral Experience; Difficult Interview)
I applied through college or university and the process took a day - interviewed at Lazard in December 2012.
Interview Details – summer analyst in the Telecom and tech team. i had 3 interviews, 1 with an analyst and 2 with associates. each interview lasted for 45 minutes, mainly technical. they asked about evaluation methods, mainly multiples, then deals about telecom i already know about, why Lazard, questions about earlier internhips, etc
they mainly need multicultural graduates, who speaks different langages.
Associate Interview (Positive Experience; Difficult Interview)
I applied through a recruiter and the process took 4+ weeks - interviewed at Lazard.
Interview Details – At least 2 initial interviews with recruitment consultant. About 4 interviews with progressively senior team members at the company. The first interview was quite long, perhaps 2 hours. The last with 2 senior managing partners, was about 5 minutes.
Interview Question – I was given some quite specific "game theory" type questions, along the lines of the Prisoners' Dilemma, not so much to give a "correct" answer, but more for them to see how I thought through a logical, ethical, business problem Answer Question
Negotiation Details – I was offered a pretty attractive package. I did not negotiate on the salary, but I did on some of the benefits. I got everything I asked for.
M&A Analyst Intern Interview (Positive Experience; Difficult Interview)
I applied through college or university and the process took 2 weeks - interviewed at Lazard in October 2013.
Interview Details – Got in contact via campus recruitment. The employees from the Amsterdam office were very friendly and answered all questions. After a workshop on campus, for which there was CV selection, there was one more interview at the office. There were no really difficult questions in general, but the interviewers went quite into detail when it came to technical questions --> so be prepared!
Interview Question – Really know the intuitions behind every item in the free cash flow analysis, what happens if this goes up, this goes down, by how much etc. Know multiples very well. Give your forecast fo the M&A market in the next year, which industries might do well/poorly?
Also, why don't you want to do consulting instead? What's so special about our firm, compared to competitors? Answer Question
Analyst Interview (Positive Experience; Difficult Interview)
The process took a day - interviewed at Lazard in November 2009.
Interview Details – Recruitment was organized by the Cornell Partnership. They conduct the first round interviews. If successful, you are invited to an assessment centre at the Lazard Offices.
Structure of Assessment Centre:
1. Numerical Test
2. Group Exercises
4. 1:1 interview with two senior employees
The offices are very nice and located in Mayfair. The people who interviewed me were really looking for a personal fit rather than your technical skills. As Lazard places very high importance on the strategic aspect of M&A transactions, commercial awareness is one of their number one criteria in selecting candidates.
The analysts and associates I met during the networking lunch all seemed to be very happy about working at Lazard even though one of the employees told me that "the work is brutal". Nevertheless, he noted that it is extremely rewarding, especially in terms of the board level exposure you get.
Summer Analyst Interview (Neutral Experience; Difficult Interview)
The process took 3 weeks - interviewed at Lazard in February 2010.
Interview Details – When applying on their website I recall a standard mathematical aptitude test. Next step was a phone interview with an external recruitment firm. Quite technical to be a phone interview, with the interviewer asking detailed questions on the steps of a DCF valuation and which factors could affect the outcome. The final step was an assesment center at their London office, with approximately 25 applicatants fighting for what I believe were 7 spots. The day started off with a math test, after which we were split into groups of 8. In the group we recieved two separate cases which we were to discuss and present an outcome. The bankers present seemed to have created a pre-concieved picture of the candidates, as the criticism I recieved was that I didn't perform the way they would have wanted me to - not saying that I performed badly. After eating a lunch with a few of the analysts present, half the group was cut, and the other half had 1-1 interviews with MD's.
Interview Question – Which 6 people (from a list of appr. 20) would you choose to become the management of a newly formed firm? Answer Question
Analyst Interview (Positive Experience; Difficult Interview)
The process took 1 week - interviewed at Lazard in October 2010.
Interview Details – A lot of fit and mental math. Definitely need to know the basics of accounting and finance. They really want to know why IB because they expect you to stay on for 2 years. Very nice guys in general. Really have to show a passion for what you are applying to.
Interview Question – A lot of mental math. Be able to take percentage of numbers and quickly multiply. Answer Question
Investment Banking Analyst Interview (Positive Experience; Difficult Interview)
I applied through college or university and the process took 1 week - interviewed at Lazard in October 2007.
Interview Details – On-campus interview
Final rounds at the office (interviewed with 5-6 people)
Asked basic banking questions: Why Banking? Why Lazard? Why you?
Asked questions you can get from vault: How do you value a company? What are the ways? (and gets into more and more detail to see how well you know)
Basic behavioral questions
Interview Question – You're a banker and you hate banking -- it'll take you a truck load of money to convince you to be a banker. How much money is in the truck? View Answer
Negotiation Details – I negotiated for two weeks -- I wanted to be in the Restructuring group
Investment Banking Analyst Interview (Neutral Experience; Difficult Interview)
I applied through college or university and the process took 1 week - interviewed at Lazard in October 2011.
Interview Details – Normal on-campus recruiting process. First round was a two-on-one interview with Associates. Mainly technical questions, fairly intense. One interviewer would ask a question and the other would interrupt my response with another technical question. They were nice enough guys though, as after I answered a bunch of technicals correctly the tone of the interview shifted and became much more lighthearted. Nothing unexpected though. Invitation to superday a few days later. Superday consisted of 4 one-on-one interviews with VPs and Associates. Fewer technical questions, more fit questions as well as some brainteaser/probability questions.
- standard valuation, accounting questions. ex: can you have negative enterprise value, etc? Answer Question
- why lazard? View Answer
Reason for Declining – Have heard bad things about culture and bonuses. Had another offer at a similar firm.
Interviews for Top Jobs at Lazard