I just finished taking the students JP Morgan At the end of the Investment Banking Superday, when I came back to sort it out, I discovered that the question types in this interview were actually highly concentrated, and the high-frequency points were almost fixed. Many students have answered hundreds of questions, but what is really tested is your understanding of core technical points such as DCF modeling, three tables, and valuation methods, as well as the logical thinking of market and company analysis. Now I have sorted out all the behavioral aspects, technical aspects, market analysis and case questions that I have personally experienced. I hope it can help you get through Superday efficiently and get more offers with fewer pitfalls.
Timeline reference
| Stage | Typical time interval | Content |
|---|---|---|
| Online application is open | Early recruiting season (late fall/early winter) | Submit resume, preliminary screening |
| First meeting | 1–3 weeks after application | Zoom/phone behavioral + technology |
| Superday invitation | 1–3 weeks after initial interview | HR notifies interview time |
| Superday interview day | All day on designated day | Multiple rounds of face-to-face/Zoom interviews |
| Offer decision | 0–2+ weeks after interview | Decision making + extending the offer process |
Behavioral
High frequency basically covers these questions:
- Tell me about yourself
What the interviewer expects is Career story, not a resume retelling. It is necessary to explain clearly "how you got to IB step by step" instead of "I was an undergraduate - internship - internship again." - Why Investment Banking
Never mention "lots of money" or "big platform". A better angle is: genuine interest in deal execution, transaction exposure, and learning curve. - Why JP Morgan
Need to be specific Differentiator: Business strengths, culture, recent deals, advantages in certain sectors, rather than talking about "bulge bracket" in general. - Walk me through a recent deal
Choose a transaction that you have actually researched. It is easy for the interviewer to follow the details and ask questions, and Yixu is immediately exposed.
The core of BQ is not to "say more", but to have complete logic and credible motives.
Technical aspect
The technical aspect mainly examines financial modeling and valuation capabilities. The interviewer asked at the beginning: "Walk me through a DCF model." The students first organized their ideas and explained them step by step from forecasting free cash flow, calculating WACC to estimating terminal value. The interviewer added: "Can you do sensitivity analysis?" The student explained how to adjust the assumptions and analyze the impact on the valuation.
The relationship between the three tables is also a high-frequency test point. The interviewer asked: "How does Net income flow to retained earnings?" The students used diagrams to illustrate each step of cash flow changes and the impact on the balance sheet. Later, the interviewer asked about the valuation method: "What is the difference if comps is used instead of DCF?" The trainees analyzed their respective advantages, disadvantages and usage scenarios, and explained the application judgment of EV and Equity Value.
Throughout the technical aspect, the interviewer attaches great importance to clear logic and step-by-step derivation. Even if students do not give the final answer at the beginning, as long as their ideas are complete, they will still be recognized.
Market analysis
During the market analysis session, the interviewer asked: "What do you think is the impact of the current interest rate environment on the financial industry?" This question can be combined with macro trends and industry data analysis to mention the pressures and opportunities that some industries may face. Then he asked about the company case: "If it were the company you covered, how would you adjust its strategy?" I talked about the specific company model, recent financial performance and potential risks.
When talking about industry preferences, the interviewer directly asks: "Why do you think this industry is worthy of attention?" The answer can be supported by data and logic, rather than simply saying that it is popular. This kind of questioning is really testing you.Substantive reasoningCompetencies, not just surface answers.
Case / Situational Questions
Case questions typically involve stock price declines, M&A proposals, or financing options. For example, when analyzing a stock price drop, you can first propose possible reasons: earnings miss, guidance reduction, sector headwinds. The interviewer asked again: "If management makes adjustments, will your judgment change?" I analyzed different scenarios to maintain logical coherence.
In the M&A case, the interviewer will ask questions at every step: "Why did you choose this strategy? Can the financing structure be optimized?" I talked about strategic rationale, valuation and financing structure, analyzing the pros and cons of the acquirer and the acquired party. Financing options are often considered debt vs equity. I explain the advantages and disadvantages and give the reasons based on the company's cash flow and capital structure.
When answering a Case, it is more important to set up a framework first and then add data and details than to rush to a conclusion. The interviewer values the integrity of your thinking more than whether you guessed the answer correctly.
When preparation time is insufficient, what is really difficult is on-the-spot judgment.
This type of interview requires very high information density and on-the-spot reaction. Many students do not lack the ability, but lack accurate information about the interview process and the rhythm of the test points. Only when they actually sit down for the interview do they realize that there is not enough time. In response to this situation, ProgramHelp plays more of an "interview accompaniment" role: providing interview assistance at key nodes,VO assist And real-time interview assistance, real experts with a North American CS background will give prompts and ideas simultaneously during the interview process, guiding students to give complete answers and to the point. The effect of this kind of artificial real-time support is often much more stable than relying solely on AI simulation, and is also closer to the judgment logic of real interviewers.
