Technical interview
Format. One 45-minute interview, commonly a two-on-one panel.
Duration. 45 minutes
Panel. An Associate and a VP who specialise in quantitative execution or lead the modelling workstreams.
Assessed on. Core corporate finance: the three statements and how they link, DCF/comps/precedent valuation, capital structure, WACC and basic LBO and M&A mechanics, with intuitive comprehension over rote memorisation.
Typical scenarios. Examples include a £100m depreciation increase across the three statements at 25% tax, what happens to EV if the share price drops, and why a firm might raise a convertible bond over straight debt or equity in the current UK rate environment.
Common failure modes. Getting flustered when pushed past definitions into edge cases, guessing instead of reasoning aloud, or missing your own multi-step errors.
Tactical advice. Talk through your logic step by step; if you slip, acknowledge it immediately and correct it (for example noting depreciation is non-cash so cash from operations actually rises). Memorise the Beta derivation: Unlevered Beta = Levered Beta / [1 + (1 - Tax) x (Debt/Equity)].
Behavioural / competency interview
Format. One 45-minute interview, typically two-on-one or one-on-one.
Duration. 45 minutes
Panel. A VP or Director from a core industry group or the generalist advisory pool.
Assessed on. Structured communication, resilience, teamwork, project management and alignment with Evercore's values (Client Focus, Integrity, Excellence), plus whether you grasp the day-to-day reality of a London analyst.
Typical scenarios. For example managing two conflicting senior deadlines, why Evercore over Goldman or Morgan Stanley given their larger balance sheets, and rectifying an error found in your own work after submission.
Common failure modes. Generic answers that fit any bank, using 'we' instead of 'I', or missing the independent-advisory distinction.
Tactical advice. Use STAR rigidly with ~60% on the Action, quantify achievements, and on 'why Evercore' emphasise pure advisory, conflict-free lean teams and specific recent London deals.
Written modelling / case study exercise
Format. A 60-minute solo paper-based or computer-based exercise in a controlled room.
Duration. 60 minutes
Panel. Worked alone; output collected and graded by an Associate or VP before final scoring.
Assessed on. Technical precision under time pressure, data synthesis, clean formatting, accounting integrity and commercial insight.
Typical scenarios. Building a 3-year, 3-statement forecast from growth assumptions, or calculating fully diluted shares via the Treasury Stock Method from strike prices and in-the-money options, then an EV calculation.
Common failure modes. Failing to manage time, leaving the qualitative summary blank, balance-sheet linking errors, or a messy, illegible layout.
Tactical advice. Prioritise structural correctness over complexity; a simple, fully balanced model with zero formatting errors beats a half-finished broken one. Reserve the final 10 minutes to check formulas and write a bulleted commercial summary.
Restructuring / distressed case (RDA only)
Format. One 45-minute interview or case presentation, for Restructuring and Debt Advisory candidates.
Duration. 45 minutes
Panel. A VP and an MD from the London Restructuring group.
Assessed on. Distressed situations, the capital-structure waterfall, credit agreements, liquidity runway and the competing motivations of stakeholder groups.
Typical scenarios. For example a company with a £500m senior secured bond maturing in six months, leverage at 8x EBITDA and £15m liquidity in a declining sector: walk through the strategic options and where value breaks in the stack.
Common failure modes. Suggesting standard M&A solutions while ignoring covenants, failing to find the fulcrum security, or muddling UK Schemes and Restructuring Plans under the Companies Act 2006.
Tactical advice. Approach every problem from liquidity and the capital waterfall; ask for leverage metrics, maturities and collateral, and know the distinction between an out-of-court consensual restructuring and an in-court process.
Partner / Senior MD interview
Format. One 30-45 minute interview, one-on-one or two-on-one.
Duration. 30-45 minutes
Panel. A Senior Managing Director or senior country/sector Partner.
Assessed on. Executive presence, maturity, leadership potential, macro vision and the airport test (would the partner put you in front of a FTSE 100 CEO?).
Typical scenarios. For example where European private equity is heading over 24 months given monetary policy, an underpriced geopolitical risk, or what story your CV will tell in five years.
Common failure modes. Sounding rehearsed or robotic, superficial macro answers, no personality, or basic closing questions answerable from the homepage.
Tactical advice. Match the partner's energy; this round weighs critical thinking over formulas. Read the Financial Times and the Economist daily for two weeks beforehand and form defensible economic views.
Informal lunch with current analysts
Format. A 45-minute informal group setting with 2-4 current analysts and no senior bankers or HR present.
Duration. 45 minutes
Panel. First- and second-year analysts.
Assessed on. Cultural compatibility, social intelligence, humility and authenticity. Officially unscored, but analysts flag toxic, arrogant or unprofessional behaviour to HR.
Typical scenarios. Conversations about live deal flow, day-to-day life, training, working hours and hobbies.
Common failure modes. Dominating to show off, asking about exact bonus figures, poor table manners, or disengaging because 'it is not assessed'.
Tactical advice. Treat it as a genuine chance to learn; be a polite listener, include fellow candidates, and ask about onboarding, the transition from university and deal staffing.