I applied through college or university. The process took 3 weeks. I interviewed at Jefferies (San Francisco, CA) in May 2019
Interview
The interview process consisted of 2 rounds, the first of which was in an over-the-phone format. It was mostly your typical finance questions—financial statement analysis, company/stock pitch—with a few behavioral questions. The super day was in the SF office and consisted of 5 30-minute back-to-back interviews. The interviewers ranged from analysts to managing directors, with senior bankers focused on behavioral questions and junior bankers focused more on technical questions.
Interview questions [1]
Question 1
What are the three financial statements and how do they connect to each other?
What makes a merger accretive or dilutive?
If you change beta by a factor of 2, how does that affect the CAPM model?
Phone Screen - Casual conversation with associate at the firm
First Round Interview - With two members of the team; mix of technicals from 400 guide and a bit tougher calculation questions; behaviorals gauge interest in firm, location, and team
Interview questions [1]
Question 1
Walk me from unlevered free cash flow to levered free cash flow
Tell me about a deal
I applied through an employee referral. I interviewed at Jefferies in Jan 2026
Interview
Straightforward process: 1 hour long with 3 20 minute segments with different people (MDs, VPs, Associates). They ask the simple questions like tell me about yourself and why jefferies. A lot of technical questions related to LBOs, financial statements, and discounted cash flows.
Interview questions [3]
Question 1
Walk me through a DCF. Then, explain how to calculate WACC.
I applied through college or university. I interviewed at Jefferies (New York, NY) in Jan 2026
Interview
first round was zoom with analyst, second round zoom with vp, both were really good people to speak with, mix of technical and behavioral, first round was mini case study on a business
Interview questions [1]
Question 1
heavy on valuation methods, why jefferies, what's something about you that's not on your resume, explain an LBO