Mission
Build the technical knowledge, deal judgment, and communication skills needed to perform confidently in an investment banking Associate interview. The sequence progresses from accounting fundamentals through valuation, transaction analysis, and polished interview delivery.
Ace Investment Banking Associate interview
~22 hours · 8 courses
Course 1 · ~150 min
Explain how the income statement, balance sheet, and cash flow statement connect; walk through common accounting adjustments; and answer technical questions involving working capital, depreciation, debt, and deferred taxes.
Accounting fluency is the foundation for valuation, financial modeling, and transaction analysis questions in Associate interviews.
Course 2 · ~180 min
Build and explain a DCF, select and adjust comparable companies, analyze precedent transactions, and reconcile valuation ranges using clear assumptions.
Valuation is a core technical interview area and tests both financial mechanics and professional judgment.
Course 3 · ~180 min
Translate operating assumptions into revenue, expense, cash flow, and balance sheet forecasts; identify model errors; and explain how changes in assumptions affect valuation and returns.
Associate interviews often assess whether you can review, challenge, and communicate model outputs rather than merely recite formulas.
Course 4 · ~180 min
Analyze cash, stock, and mixed-consideration acquisitions; calculate accretion or dilution; explain purchase accounting and synergies; and identify the major drivers of deal returns.
M&A mechanics are central to banking Associate interviews and reveal whether you understand how transaction structure affects shareholders and financing needs.
Course 5 · ~180 min
Explain LBO structure, calculate entry and exit enterprise value, model debt paydown, derive sponsor IRR and MOIC, and identify the assumptions that most influence returns.
LBO questions test integrated modeling, financing knowledge, downside awareness, and the investment judgment expected from an Associate.
Course 6 · ~135 min
Explain how rates, inflation, growth, credit spreads, and market multiples affect financing, valuation, IPO activity, M&A, and sector-specific deal conditions.
Associate candidates are expected to connect technical analysis with the market environment and discuss how current conditions affect clients and transactions.
Course 7 · ~150 min
Describe the stages of sell-side, buy-side, financing, and IPO processes; identify key diligence questions; prioritize workstreams; and explain how an Associate manages accuracy, deadlines, and senior-stakeholder feedback.
Technical knowledge must translate into execution judgment, which is a defining expectation for investment banking Associates.
Course 8 · ~150 min
Deliver concise answers to fit and behavioral questions, structure technical explanations, discuss a transaction or market view, handle follow-up challenges, and communicate Associate-level leadership examples.
Strong delivery allows your technical preparation and experience to come through clearly under interview pressure.