I’ve got a first-round interview with MS and want to be sure I’m ready for the technicals. Anyone know how deep they go into accounting or valuation?
Hi there,
first of all, congrats on the interview!
I don’t know the exact technicals they ask in London specifically, but I’ve coached a bunch of candidates for Morgan Stanley in other regions, and the core topics tend to be pretty consistent.
You can expect the usual mix of accounting, valuation methods, and maybe a few brainteasers or market-related questions just to test how you think under pressure. They also like to ask about recent deals, so I’d recommend having a transaction you can speak about intelligently (ideally one MS was involved in).
Let me know if you need any support with your preparation!
From my experience they typically cover Valuation, Accounting, LBOs and Market Awareness. You should expect a mix of technical, behavioral and market-based questions.
In general you should stay sharp on financial modeling, read the FT, and keep up to date on recent Morgan Stanley developments.
Hey, I had a first-round interview with Morgan Stanley in London not too long ago. They did ask a mix of standard technicals, nothing crazy but you definitely need to be prepared. One question I remember was something like "how does a $10 increase in depreciation flow through the statements. "
They also asked me how I'd value a company with negative EBITDA, so be ready to think beyond textbook answers. I'd recommend going through the M&I and Street of Walls guides and if you have access to WSO or have done a few PrepLounge finance cases, those help too.
Morgan Stanley’s IB analyst interviews usually cover core technical topics like accounting, valuation, and financial modeling, but they keep it focused on entry-level understanding. You can expect questions on how the three financial statements link together—for example, how a change in working capital affects the cash flow statement. They’ll also ask valuation questions around DCF, comparable companies, and precedent transactions, often wanting you to explain when and why each method is appropriate.
Besides direct technical questions, be prepared for case-style questions where you might analyze a company’s financials, assess an acquisition’s impact on earnings (like accretion/dilution), or walk through a simplified LBO model. These cases test both your technical knowledge and your ability to apply it logically under time pressure. Practicing clear, structured explanations is key to nailing this part of the interview.
