Internia

TD Securities Interview Experiences

Investment Banking Analyst

Toronto, ON

Summer 2025Accepted

Wilfrid Laurier University · Business Administration

3rd year · 3.7+ GPA · 2 past internships

Hard Interview

Multiple roundsBehavioralTechnicalStressfulFast process

Group case was 4 of us in a breakout room with about 30 minutes to solve some government consulting scenario about budget allocation or something. One guy immediately tried to take over and wouldn't let anyone else talk which made it really awkward. Pretty sure the observers noticed but who knows. The one on one interviews before that were normal behavioral stuff

Questions Asked

  1. 1.What is goodwill and when does it arise on the balance sheet?
  2. 2.Whats a break-up fee in M&A?

Sales & Trading Analyst

Toronto, ON

Fall 2025No Offer

University of Waterloo · Mathematical Finance

3rd year · 3.3-3.6 GPA · 1 past internship

Hard Interview

TechnicalVirtual

Fumbled a yield curve question pretty bad. Started with a recruiter phone call, then a zoom with a rates trader who asked me to price a bond after a rate move and pitch a macro trade

Questions Asked

  1. 1.What are the three main valuation methodologies and when would you use each?
  2. 2.Why do companies merge or acquire others? What are common strategic rationales?

Investment Banking Analyst

Toronto, ON

Winter 2026No Offer

University of Toronto · Rotman Commerce

3rd year · 3.3-3.6 GPA · 1 past internship

Hard Interview

Multiple roundsTechnicalBehavioralStressful

VP asked about an energy deal I didn't know and that pretty much killed it. Two rounds then a superday, DCF and three statements stuff

Questions Asked

  1. 1.Explain the difference between senior secured debt and subordinated debt

Investment Banking Analyst

Toronto, ON

Summer 2026Accepted

Queen's University · Commerce

4th year · 3.7+ GPA · 3 past internships

Hard Interview

Multiple roundsTechnicalFast processIn-Person

Networked with two analysts at the school info session, definitely helped. First round was fairly standard fit and basics, why IB, why choose TD over the US banks, explain a DCF. Final panel with an MD and two directors was intense but I'd prepped the accounting stuff cold. One of them went into how rising rates affect an LBO model and I had a solid answer. Whole process was under three weeks.

Questions Asked

  1. 1.How do you calculate enterprise value from equity value?

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