Etiquette & Final Round

Follow the interviewer's lead. Start one notch more formal than you expect, and move to first names only when invited or when the interviewer clearly uses them.

Accept naturally and stay consistent. If another banker joins, stay formal with that person until they signal otherwise.

Starting on first names uninvited in a formal market, switching back and forth, or staying stiffly formal after first names have been clearly offered.

Interviews held in English usually move to first names faster, even in formal markets.

Be in the lobby around 10 minutes before the interview. The banker may collect you 5 minutes early.

• 30 minutes before: arrive near the office.
• 15 minutes before: review notes nearby.
• 10 minutes before: check in at reception.
• 5 minutes before: be ready to be collected.

1. Inform HR / recruiting immediately, even for a small delay.
2. Give a concrete reason and realistic arrival time.
3. Apologize briefly on arrival, then move on professionally.

arriving exactly on the minute, sitting in the lobby one hour early, failing to call if late, or over-apologizing for five minutes.

Punctuality is part of professionalism everywhere; it is judged most strictly in German-speaking markets, Switzerland and Japan. Build in transport and building-security buffers, which can be long in large bank towers in New York, London or Hong Kong.

1. Stand up when the banker enters.
2. Make eye contact.
3. Give a firm but not aggressive handshake.
4. State your name clearly.
5. Use the banker's name if introduced.
6. Sit only after invited or once the banker sits.

Greet everyone calmly. If hierarchy is obvious, acknowledge the senior person naturally, but do not make the sequence awkward.

US and UK bankers usually move quickly to first names; senior bankers in German-speaking markets, France or Japan may remain formal (surname and title). In Japan a slight bow may accompany the handshake; in parts of the Middle East, some people prefer not to shake hands with the opposite sex, so let the other person offer first.

staying seated, weak handshake, over-firm handshake, mispronouncing names, rushing into your pitch before the greeting is complete.

conservative business formal, even where the day-to-day office dress is now business casual.

dark navy or charcoal suit, white or light-blue shirt, conservative tie (bring one even if you may remove it), dark polished leather shoes, minimal accessories.

dark suit or conservative business dress / separates, blouse, professional shoes, minimal accessories.

• London: standard dark suit; still one of the more formal interview markets.
• New York: suit and tie for interviews, although many banks now allow business casual day to day.
• Hong Kong / Singapore: suit for the interview; heat and humidity mean you may carry the jacket until you arrive. Day-to-day dress (especially in Singapore) is often lighter.
• Dubai: conservative and modest; a well-cut suit, covered shoulders and knees, and restrained styling.
• Frankfurt: standard formal banking dress; polished and conservative is safest.

US technology-coverage offices (e.g., San Francisco / Silicon Valley) are markedly less formal; a suit may still be fine, but check with the recruiter what the team wears.

black funeral-style suit unless styled carefully, loud ties, flashy watches, strong perfume, sneakers, casual bags, and anything that becomes the thing the interviewer remembers.

You should look like someone who can be put in front of a client that afternoon. When unsure, ask the recruiter.

It is still an interview, just less formal.

Limit yourself to 1-2 drinks. Beer or wine is safer than cocktails. Drink slowly and alternate with water. Not drinking is fine everywhere; order sparkling water or a non-alcoholic option confidently. In some markets (e.g., parts of the Middle East) alcohol may not be served at all.

Ask thoughtful questions, listen well, and avoid turning every conversation into a rehearsed pitch. Good topics include sector trends, career path, team workflow, and market observations.

client gossip, compensation, hours complaints, politics, aggressive networking, monopolizing one banker, or visibly trying to impress.

Thank people, keep it concise, and follow up only if the conversation had substance.

mature, socially aware, and safe around clients.

If you know the restaurant, check the menu and choose safe options in advance.

• Let the senior set the tone.
• Choose a mid-priced, easy-to-eat main course.
• Avoid messy food, complicated fish, long pasta, or anything that distracts from conversation.
• If alcohol is offered, one glass is enough; water is always safe.

Expect a mix of interview, market discussion, and personal fit. Stay professional but warmer than in an office interview.

Phone away, napkin on lap, do not rush eating, do not discuss dietary drama, and thank the banker / recruiting team afterward.

Show client-safe judgment in a social setting, not restaurant sophistication.

1. Pause for two seconds.
2. Acknowledge without self-pity.
3. Give a better version immediately.

'You're right, that answer was too generic. Let me make it more concrete. What specifically attracts me to this team is the combination of [deal / sector / platform] and the lean execution model I heard about from [conversation]. That matters to me because...'

Ask to reframe: 'May I take another pass at that with a more specific example?'

defensiveness, panic, excuses, or collapsing into apology.

coachability and composure. A strong recovery can improve the interview.

1. Stand up and face the banker.
2. Make eye contact.
3. Shake hands firmly (or follow the local greeting norm the banker sets).
4. Introduce yourself clearly.
5. Let the banker respond.
6. Use brief natural small talk if invited.
7. Sit when invited.
8. Wait for the first question rather than launching immediately.

calm, alert, respectful, and not overly rehearsed.

talking too fast, staying seated, checking phone, overdoing small talk, or forcing your prepared pitch before the banker has opened the interview.

You can handle senior client situations without awkwardness.

Show fit through substance and language rather than saying 'I fit the culture.'

• Use the right level of detail for the platform. Boutiques value advisory depth and precision; bulge brackets value polished commercial breadth; specialists value technical sector fluency.
• Reference specific mandates, sectors, or workflow insights.
• Ask questions that match the banker's seniority.
• Describe work preferences that mirror the platform: lean team ownership, global execution, sector depth, or client relationship orientation.

Instead of 'I like Lazard's culture,' say: 'The lean team model and restructuring-heavy mandate mix appeal to me because I learn best when I own analysis directly and can see how senior advice is formed.'

Specificity signals fit; generic culture language signals weak preparation.

Every market has its own business culture; do not assume your home style is universal.

• Know which language the team works in. English is usually enough in London, New York, Dubai, Singapore and Hong Kong; local-language fluency is often expected for client-facing roles in markets such as Germany, France, Japan or Greater China.
• Do not imitate local dialects or accents; use the standard language or English.

• Know the local index, two or three recent landmark deals, the main local corporates and sponsors, and the regulator / listing venue.
• Show interest in local deal flow rather than treating the office as a smaller version of your home market.

Adapt pace, formality and examples to the market (e.g., more reserved and precise in Switzerland, more relationship- and hierarchy-oriented in Japan or the Gulf, faster and more direct in New York).

Give a positive pull to this market (client base, sector, long-term plan, personal tie), not a push away from home. Show commitment: how long you plan to stay and how you will build a local network.

'I see this as a distinct market I want to build a career in, not just another office.'

It is the closing question in most IB interviews.

1. It shapes the final impression.
2. It tests preparation.
3. It shows whether your interest is specific or generic.
4. It reveals maturity: do you ask about sector, mandates, platform, and growth, or only lifestyle?

Prepare 2-3 questions. At least one should be bank- or sector-specific, one can be role / development-focused, and one can be personal to the banker if appropriate.

'No, I think all my questions were answered.' That wastes one of the best chances to signal interest.

1. Sector or mandate question: shows research.
2. Career / development question: shows long-term interest.
3. Personal banker question: builds human connection.

'I have three questions, if I may. First, on [your target sector, e.g., European industrials], how are you seeing sponsor appetite versus strategic buyers this year? Second, for a junior analyst here, how early does sector specialization typically happen? Third, looking back at your own path, which skill most changed your trajectory from analyst to VP?'

Questions should be short, specific, and easy for the banker to answer well.

• Work-life balance
• Weekly hours
• Overtime pay
• Home office
• Vacation

• Bonus amount
• Salary progression
• Promotion economics

• Headquarters
• Employee count
• Basic sector coverage from the website

• 'Why are your league tables weaker?'
• 'Why did many juniors leave?'
• 'Why are you worse than [competitor]?'

• Satisfaction with career
• Internal politics
• Whether the banker wants to leave

sectors, mandates, platform strategy, junior development, market outlook, and the banker's professional experience.

1. Sector-trend question: shows market awareness.
2. Mandate-strategy question: shows you understand real work.
3. Bank-platform question: shows strategic preparation.
4. Junior-development question: shows long-term interest.
5. Personal professional question: creates a human connection.

• 'How are you seeing [sector / region, e.g., US healthcare or European industrials] deal activity evolve over the next 12-18 months?'
• 'For juniors here, when does sector specialization usually start?'
• 'What skill most helped you move from execution to client responsibility?'

They make the banker talk about business, not HR. They also show you can engage like a future colleague.

overly long setup or trying to prove knowledge rather than asking.

Ask about daily workflow, first six months, modeling ownership, feedback style, staffing, live-deal responsibilities, and skill development.

• 'Which skill has the steepest learning curve in the first six months?'
• 'How does a junior analyst typically contribute on a live sell-side?'

Ask about sector outlook, client dialogue, platform strategy, mandate origination, and how juniors become trusted over time.

• 'Which sector in your coverage market do you think will surprise people over the next 12 months?'
• 'What makes a junior stand out positively to senior bankers?'

Ask people questions they are well placed to answer. Do not ask an MD about spreadsheet shortcuts or an analyst about firmwide strategy.

More relaxed than an office interview, but still evaluative.

• Choose something simple, clean, and easy to eat.
• Coffee, water, or juice are fine.
• Let the banker set the level if unsure.
• Avoid messy food or anything that dominates attention.

• Start with natural small talk.
• Be ready for behavioral and market questions.
• Keep answers slightly more conversational but still structured.
• Do not become too casual because the setting feels informal.

Arrive early, dress professionally, keep phone away, thank the banker, and follow up if appropriate.

You can represent the bank in semi-social client settings without awkwardness.

Cultural fit and off-script judgment.

Maximum 1-2 drinks. Drink slowly. Water is fine. Do not match a senior banker drink-for-drink.

Keep it professional but relaxed. Good topics include travel, market themes, sector views, office culture, and career reflections. Avoid compensation, gossip, politics, client secrets, and complaining about the process.

Circulate naturally, do not monopolize one person, and avoid trying to continue the formal interview. Be warm, curious, and composed.

Thank the hosts, leave at an appropriate time, and do not be the last candidate lingering.

The formal interview is over; the assessment is not.

More structured. Questions cover CV walkthrough, why IB, why this bank, strengths, weaknesses, teamwork, and technical basics. The interviewer checks whether you can be trusted on the team day to day.

More conversational and judgment-based. The senior banker tests maturity, commercial thinking, client readiness, motivation, and long-term potential.

• 'How do you see this sector evolving?'
• 'Why our platform specifically?'
• 'What would make you successful here?'
• 'What is the biggest risk in your candidacy?'

Know your story, market views, bank-specific rationale, and thoughtful questions. Senior rounds are less about memorized answers and more about presence.

Research each banker: title, sector, product, background. Prepare questions by seniority.

• Answer the person who asked, but include the room with eye contact.
• Keep answers concise; panels have less patience for long monologues.
• Track names and refer back naturally when relevant.
• Do not ignore quiet senior bankers.
• If questions come quickly, pause and structure rather than rushing.

Ask a question that the panel can answer from different perspectives, or direct one question to a specific banker based on their background.

Show you can manage multiple stakeholders in a room, not only one interviewer.

Principles first, process second, relationship third.

• A senior asks you to hide a model error.
• You notice a mistake after materials went to a client.
• Someone asks for confidential client information.
• A banker pressures you to use unrealistic assumptions.

1. Clarify facts.
2. Do not hide or falsify.
3. Escalate appropriately if needed.
4. Protect the client, bank, and team.

'If I found a material error, I would immediately tell the analyst / associate, quantify the impact, and help correct it. I would not hide it because reputational and client risk is much worse than the discomfort of admitting a mistake.'

integrity under hierarchy pressure.

Show that you understand hiring risk.

Ask a question that reveals whether the candidate can handle the job, then answer it about yourself.

'I would ask: "Tell me about a time when you received difficult feedback and changed your behavior." I would ask that because in banking, coachability is critical. My own example would be [brief story], where I learned to clarify expectations earlier and use a checklist before turning work.'

Ask what evidence proves the candidate genuinely wants banking rather than only the brand.

clever gimmicks or turning it into an attack on other candidates.

self-awareness and understanding of what the bank is actually buying: reliability, stamina, judgment, and coachability.

Reinforce interest and leave a specific final impression.

1. Thank the interviewer.
2. Mention one specific insight from the conversation.
3. Reaffirm why it strengthens your interest.
4. End confidently and briefly.

'Thank you for the time today. What particularly reinforced my interest was your point about the lean team model and how juniors take real ownership on live sell-sides. That is exactly the environment I am looking for, and today's conversation made me even more convinced about the role.'

begging for the job, asking how you did, repeating your whole pitch, or ending with a generic 'I look forward to hearing from you.'

Specific, grateful, confident, short.