Financial modeling prep for interviews

Question

Hi all, how much Excel/financial modeling do banks actually expect from summer analyst candidates? Do they test modeling skills in interviews, or is it more about verbal technicals?

Answer 1

Hey!

For summer analyst interviews, banks generally do not expect you to have advanced financial modeling skills. The focus is more on whether you understand the concepts behind valuation, accounting, and corporate finance rather than being able to build a full model on the spot. Most technical questions are verbal and designed to test your grasp of how the three statements connect, how to think about valuation methods, or how different assumptions affect a deal.

Having basic Excel fluency and familiarity with simple models is still useful, especially if you want to stand out. Being able to talk through how a DCF or merger model works, even at a high level, shows that you are proactive and genuinely interested. Once you’re on the job, the bank will give you the training you need, so the interview is more about testing whether you have the foundation and mindset to pick it up quickly.

Answer 2

Hi There!

For summer analyst roles at investment banks, candidates are expected to have a solid grasp of Excel and basic financial modeling skills, such as 3-statement models and simple DCF or comps analysis, though complex modeling like LBOs is less critical. Interviews primarily focus on verbal technicals, where you explain concepts like DCF or financial statement linkages, but some banks (e.g., JPMorgan, Evercore) may include timed modeling tests or case studies, especially in superday rounds.

While banks don’t expect perfection, demonstrating competence, clear communication, and a willingness to learn is key, with 2-3 months of prep using resources like Wall Street Prep or Breaking Into Wall Street recommended to build confidence.

Answer 3

For summer analyst roles, banks don’t expect deep modeling skills. They focus more on verbal technicals—things like explaining a DCF, walking through the 3 statements, or understanding valuation multiples.

Modeling tests are rare at this level. If anything, you might get a basic Excel or math task, but nothing like full LBOs or 3-statement models. Showing that you understand the logic behind models matters more than knowing all the shortcuts or formulas.