Lazard Investment Banking Interview Questions
Prepare for Lazard investment banking interviews with firm-fit, advisory, valuation, restructuring, video, and behavioral questions.
On this page
Lazard investment banking interview preparation should emphasize independent advice, small-team communication, technical depth, and a credible reason for choosing Lazard over both a full-service bank and another advisory firm. Lazard UK's official candidate guidance says its video interview contains five questions and warns that reading from a script can make candidates appear over-prepared.
TL;DR
- Explain why independent advisory appeals to you, then make the answer specific to Lazard.
- Prepare M&A, valuation, restructuring, accounting, and cross-border judgment questions.
- For a recorded interview, practice on camera without memorizing a script word for word.
- Show that you can communicate clearly and work in small teams with senior exposure.
- Bring one Lazard-relevant transaction or client issue and a defensible view.
What does Lazard say it looks for?
Lazard UK's candidate guidance says prior finance experience is not required for its student pipeline and emphasizes interpersonal, communication, and teamwork skills. It connects those skills to a pure-advisory business and small-team environment. The same page describes a five-question video interview focused on personality, motivations, and interests, while warning candidates not to read from a script.
| Interview area | What a strong answer demonstrates |
|---|---|
| Why Lazard? | Understanding of independent advice plus firm-specific evidence |
| Technicals | Strong valuation and transaction mechanics |
| Advisory judgment | Ability to frame tradeoffs without a product-sales answer |
| Communication | Concise, natural delivery with senior and client awareness |
| Teamwork | Ownership without ego in a small-team setting |
How should you answer “Why Lazard?”
Separate the answer into two comparisons.
First, explain why independent advice fits you. A full-service bank may advise, lend, underwrite securities, and provide markets products. An independent advisory firm is centered on judgment and transaction advice. Explain why you want that work rather than merely saying boutiques offer “more responsibility.”
Second, distinguish Lazard from other advisory firms. Use a specific geography, sector, restructuring interest, transaction, team, or real conversation. The point must survive a follow-up asking, “Why not Evercore or Rothschild?”
A reliable structure is: business-model reason, Lazard-specific evidence, personal fit. Run the swap test from our Why this bank guide before the interview.
How do you prepare for the Lazard video interview?
Lazard UK's guidance says the video round contains five questions and advises candidates to practice in a mirror or on camera while remaining authentic. That means practice delivery, not a script.
Record answers to your background, motivation, Why Lazard, a teamwork example, and a current commercial topic. Review eye line, pace, answer length, and whether your opening sentence addresses the question. Then repeat from bullet points rather than memorized paragraphs. Keep energy consistent through the last question.
Which Lazard technical questions should you practice?
Lazard candidates should know the standard IB core and be ready for advisory-heavy follow-ups:
- Walk me through a DCF and explain when it is unreliable.
- How do you move from enterprise value to equity value?
- What makes an acquisition accretive or dilutive?
- How does purchase accounting create goodwill?
- Why would a company restructure out of court rather than file for bankruptcy?
- How do lower exit multiples affect an LBO?
- How would political or regulatory risk change a cross-border transaction?
Review comparable company analysis, precedent transactions, goodwill and purchase accounting, and restructuring investment banking. Practice the conclusion first, then the mechanism and one limitation.
How should you discuss a Lazard-relevant deal?
Pick a transaction where the advisory judgment is interesting. That might involve a cross-border combination, restructuring, shareholder pressure, a complex carve-out, or a financing constraint. Verify any claimed Lazard role through a reliable public source.
Explain the parties, rationale, valuation, alternatives, stakeholder conflicts, execution risks, and your view. For restructuring, identify the capital-structure problem and which stakeholders gain or lose under the proposed solution. For M&A, explain why the transaction is better than remaining independent. Use the deal discussion framework to keep the answer under two minutes.
Which behavioral stories fit Lazard's stated criteria?
Prepare small-team examples that show communication, adaptability, resilience, and judgment. Lazard's official candidate advice describes a relentless learning curve and emphasizes clear articulation in teams. Your examples should therefore show how you learned quickly, asked useful questions, managed feedback, and improved the output.
Avoid claiming that you always knew the answer. A strong analyst story can show an unfamiliar task, the steps used to get up to speed, the quality control applied, and the result for the team.
Ten Lazard interview questions to rehearse
- Why Lazard rather than a bulge bracket?
- Why Lazard rather than another independent advisory firm?
- Walk me through a DCF.
- Explain accretion and dilution.
- How does purchase accounting create goodwill?
- What creates value in a restructuring?
- Discuss a recent cross-border or restructuring transaction.
- Tell me about a time you learned an unfamiliar concept quickly.
- Describe a difficult team situation and your contribution.
- What political or economic issue could affect Lazard's clients?
Frequently Asked Questions
How many questions are in the Lazard video interview?
Lazard UK's official candidate guidance states that its video interview has five questions. Processes can vary by location, program, and year, so follow the instructions for your exact application.
Should I script Lazard video answers?
Prepare the evidence and structure, but not every word. Lazard's own guidance warns that reading from a script can appear overly prepared and encourages candidates to practice how they come across on camera.
What is the most important Lazard firm-fit distinction?
Explain both why independent advice fits you and why Lazard specifically beats other advisory firms for your interests. One without the other leaves the answer incomplete.
Are these leaked Lazard questions?
No. The guide and practice set use public Lazard materials, public candidate-reported themes, and established finance interview frameworks.
Sources
- Lazard application and interview advice: https://www.lazard.com/about-lazard/locations/united-kingdom/careers-in-the-united-kingdom/sharing-insights-your-questions-answered/
- Lazard 2026 London recruiting FAQ: https://www.lazard.com/about-lazard/locations/united-kingdom/careers-in-the-united-kingdom/2026-lazard-london-recruitment-process-faqs/
- Lazard careers: https://www.lazard.com/careers/