J.P. Morgan first-round interviews

Hey there, 

a few of my candidates have gone through first-round interviews at J.P. Morgan recently, so maybe I can help. From what candidates have told me, the focus is usually pretty classic. Expect questions on the three financial statements, how they link together, and things like what happens when depreciation changes or how an increase in revenue flows through the model. Changes in working capital do come up, but they’re often wrapped into broader accounting or cash flow questions.

Valuation basics definitely show up too (especially DCF and comparables) though you likely won’t be pushed into full modeling in the first round. Just make sure you can explain the logic behind each method and when you'd use them. If you're solid on accounting and can speak clearly about valuation concepts and walk through a simple DCF or accretion/dilution logic, you’ll be in a good spot. 

If you need any support with your preparation, feel free to reach out. I wish you much success! 

Hey!

For J.P. Morgan first-round interviews, especially for a summer analyst role, the technical questions tend to focus on fundamental accounting and finance concepts. You can expect questions about the three financial statements—how they connect and affect each other—and basic accounting principles like working capital changes. Interviewers often want to see that you understand how the income statement, balance sheet, and cash flow statement interact because this forms the foundation of more complex topics.

While deep valuation or detailed modeling questions are more common in later rounds, it’s still useful to have a basic grasp of valuation methods like discounted cash flow, comparable company analysis, and precedent transactions. You might also be asked straightforward questions on simple modeling frameworks or how to approach common valuation scenarios. The best way to prepare is to be comfortable explaining core concepts clearly and confidently, as well as practicing some simple technical questions. Focus on mastering the basics first, and you’ll be well-positioned to handle whatever comes your way in the first round.

Hey there,

In J.P. Morgan’s first-round IB interviews, expect a mix of behavioral and technical questions focusing on core accounting concepts like the three financial statements and basic valuation methods such as DCF. While not as deep as later rounds, you should be comfortable explaining how financial statements connect and walking through simple models. 

Preparation should include reviewing fundamentals, practicing clear communication, and understanding situational questions to showcase problem-solving skills.