Kira video first, 3 questions with barely any prep time and you only get one shot. Then in person with one of the interviewers, EV vs equity value and Sharpe ratio came up. Third round was with the team, more cultural fit but they also threw in a brain teaser at the end. Process took over a month, super frustrating because I had other deadlines
Questions Asked
1.“What is rebalancing and why do institutional investors do it?”
2.“Tell me about a sector or asset class you follow closely and why”
TD Securities
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.“Explain the difference between senior secured debt and subordinated debt”
Citi
Investment Banking Analyst
New York, NY
Summer 2025No Offer
University of Toronto · Rotman Commerce
4th year · 3.3-3.6 GPA · 2 past internships
Hard Interview
Case studyMultiple roundsBehavioralTechnical
Q&A destroyed me. Assessment centre had light technical on EV and EBITDA, then a case study
Questions Asked
1.“Tell me about a deal or transaction in the news you've been following.”
2.“How does a leveraged buyout create value for a PE firm?”
PwC
Deals/Transaction Services Analyst
Toronto, ON
Summer 2024No Offer
University of Toronto · Rotman Commerce
2nd year · 2.5-2.8 GPA · 0 past internships
Average Interview
VirtualFast process
Gave me an Excel based case study with financial statements and had to do some data analysis. The behavioral round was all STAR format, had to talk about a time I dealt with a difficult team situation and why I wanted to go into deals advisory. Prep your deal experience stories and know basic accounting and you'll be fine
Questions Asked
1.“What's the difference between a strategic acquirer and a financial buyer?”
2.“How do you value a company with negative earnings?”
CRA
Financial Analyst
Toronto, ON
Summer 2025Accepted
University of Toronto · Rotman Commerce
3rd year · 3.3-3.6 GPA · 2 past internships
Easy Interview
BehavioralSlow processVirtual
Aapplied in October heard back in February for a summer position. 30 min interview with two CRA employees, behavioral stuff about teamwork and dealing with difficult clients and strengths then they also had a written exercise at the end where you respond to a scenario.
Questions Asked
1.“What is scenario analysis and how do you use it in planning?”