What do you do if the project budget is unexpectedly exceeded?

Ace your IB interview! Discover how to answer "Why investment banking?" and stand out.

When you're applying for an internship or your first job in the finance industry, you'll eventually come across something called a fit interview. Maybe you've heard the term before, but what exactly does it involve? Is it about your skills? Your personality? Or just some casual small talk?No need to worry. We’ll explain everything you need to know about fit interviews from the ground up. Even though they’re often considered the more relaxed part of the selection process, you should definitely not underestimate them. What Is a Personal Fit Interview?A fit interview (sometimes also called a "personal fit" or "cultural fit" interview) is all about you as a person. The key question is: Do you fit in with the team and the company culture?This is especially important in the finance industry, where you'll often be working closely with others, performing under pressure, and interacting with clients. That’s why recruiters pay close attention to how well you match the bigger picture. They want to know:Why are you specifically interested in finance?What truly motivates you?How do you handle challenges?What’s your approach to teamwork?It might sound soft at first, but this is where your authenticity and connection to the role really shine through. If you ace the fit interview, you're showing that you’re not just a great candidate on paper, you’re a great match on a human level too. What Can You Expect in a Fit Interview and What Questions Will You Be Asked?A fit interview usually lasts just 10 to 20 minutes and often takes place at the beginning or end of your interview day. Sometimes it’s held over the phone or via video call. The questions typically fall into four main categories: Resume QuestionsIn this part of the interview, the goal is to understand the choices you've made along your academic and professional journey and why you made them. It's important to explain your experiences with a focus on analytical skills, sense of responsibility, and relevant hands-on experience. Interviewers want to hear how you’ve handled complex situations in previous roles or projects, and what kind of value you were able to create.Typical questions might include:What were your responsibilities during your internship at [Company]?Why did you choose your field of study or your area of specialization?What did you take away from your work on [Project/Job]?What matters in your answers?You should be able to clearly explain your path and show how each step has helped you grow.. Highlight why you chose a particular major or internship and what you learned from it. Your answers should make it clear that you've made intentional decisions and that you can confidently explain and reflect on your journey. Motivational QuestionsThese questions aim to understand why you are interested in the finance industry and why you want to work for this specific company. Especially in finance, interviewers expect you to have a solid understanding of the industry and the challenges it is currently facing. They also want to get a sense of your long-term motivation.Typical questions includeWhat interests you about the finance industry?Why do you want to work with us in particular?Where do you see yourself in five years?What matters in your answersYour motivation should feel genuine and well explained. Avoid empty phrases and instead give clear, specific reasons why this industry and this company appeal to you. Mention aspects such as the company’s values, focus areas or projects that truly speak to you. This shows that you are not just applying to do something related to finance, but because you believe this is the right place for you. Personality QuestionsThese questions are meant to assess your social skills, your ability to work in a team, and how you approach problem-solving. In the finance industry, teams often work closely together and need to communicate precisely and with trust. Interviewers want to make sure that you can stay cooperative under pressure and handle conflicts in a constructive way.Typical questions includeHow would others describe you?Tell me about a situation where you solved a problem within a team.What was your biggest mistake and what did you learn from it?What matters in your answersIt is important to clearly show how you work with others and how you handle challenges. The most convincing answers are based on real examples, such as how you helped resolve a team conflict or communicated clearly under time pressure. What really matters is not just what you did, but how you acted: reliably, thoughtfully and with a focus on solutions. Stress QuestionsSometimes interviewers want to see how you handle pressure. In the finance sector, you’ll often face tight deadlines or complex challenges, so they want to know that you can keep a cool head even in high-stress situations.Typical questions includeWhy should we choose you over someone with a better academic record?What makes you a stronger candidate than other applicants?What would you do if you felt completely overwhelmed during your first project?What matters in your answersThe focus here is less on what you say and more on how you handle the situation. Stay calm, take a moment to think, and show that you can respond in a structured, realistic, and professional way, even under pressure. Responses like “I would set priorities, seek support, and take responsibility” show that you are resilient and capable of managing challenges effectively.