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Bank of America · Investment banking analyst · Summer Analyst / Analyst

First-round technical interview

The analyst-level technical seat: statements, multiples and merger intuition

What they actually ask

The question shapes this round uses. Larpy does not read these out. It builds each one from your own resume, because the generic version is the one you have already rehearsed.

  • “When would you focus on valuing a company's equity rather than their enterprise value, and why?”
  • “If two companies have the same EBITDA, why might they have different P/E multiples?”
  • “What is the greatest driver of value in a DCF?”
  • “What does it mean for an acquisition to be 'accretive'?”
  • “What do you know about Bank of America's business model, and how is it different from other banks?”

What this round is judged on

  • Accounting · the three statements and how a change flows through all of them
  • Valuation · multiples, what drives the gap between two of them, and when each applies
  • Accretion / dilution · conceptual merger reasoning before any arithmetic
  • Commercial reasoning · stating assumptions and thinking out loud

How Larpy grades this

We score these the way an analyst would. Per topic, what a strong answer lands and the confidently-wrong answers Larpy catches.

  • ACCThree-statement flow of a depreciation change
    Strong
    nets the tax effect correctly (net income down 7.5, not 10); adds the full non-cash charge back on the cash flow statement; closes the balance sheet and states that it balances.
    We flag
    claims extra depreciation raises net income or cash (it lowers net income; cash rises only by the tax shield); forgets the tax rate and moves the full 10 through pre-tax to net income; leaves the balance sheet unbalanced.
  • VALWalk me through a DCF
    Strong
    uses UNLEVERED free cash flow discounted at WACC (not levered FCF or cost of equity); includes a terminal value and discounts it back; sums to enterprise value, then bridges to equity.
    We flag
    discounts unlevered cash flow at the cost of equity; omits terminal value (it is usually the majority of the value); forgets to subtract the change in working capital or capex.

Larpy builds a fresh question per topic from your resume and grades the full answer live. Start the mock for the worked model answer.

Where this round sits

Bank of America’s published process. Lime marks the stage this round runs.

  1. 01
    Application (rolling)
  2. 02
    Application screening
  3. 03
    On-demand video interview
  4. 04
    First and second round interviewsthis round
  5. 05
    Final round
  6. 06
    Offer
What happens in each stage›
Application (rolling)
Apply online through the Bank of America application system, plus any resume drop your careers service runs. Analyst internship and full-time recruiting happens on a rolling basis once applications open, and interviews often begin before the deadline, so the day a posting opens is the day to apply. You may apply to one office and one division per year.
Application screening
Campus recruiting reviews applications as they arrive and programs close as positions fill. Requirements are set per program, and the bank asks for academic, professional and extracurricular strength plus a genuine, specific interest in its business.
On-demand video interview
A recorded, one-way interview of roughly 20 to 30 minutes. Bank of America publishes the mechanics: 30 seconds to prepare each response and up to three minutes to answer, with no ability for anyone to ask a follow-up. The questions are primarily behavioral and open ended, though they may ask about projects or experiences. In Asia Pacific the same stage is called the digital interview and runs on HireVue; in EMEA the video interview is part of the application itself and has to be finished by the deadline alongside the CV and competency questions.
First and second round interviews
Bank of America runs first and second rounds by phone, via on-demand video, on campus or at a Bank of America office. On the banking side these are with analysts, associates and VPs: motivation and fit, plus analyst-level technicals that get firmer as the round goes on.
Final round
The final round varies by line of business but typically means interviews conducted by representatives from the business area you applied to. For Global Corporate & Investment Banking in the Americas that is a superday of back-to-back interviews. EMEA runs an assessment center that mixes phone calls and video interviews with HR team members, business managers and possible peers, and can add exercises and assessments. Asia Pacific runs one or more competency-based interviews by phone, virtually or in an office, sometimes with a group component or a presentation exercise.
Offer
An offer is developed and extended, then a formal contract letter is signed. The summer internship class is the primary source of hiring into the full-time campus programs, and offers are not deferrable.

Sources

Built from what Bank of America publishes about its own process and from real interview data. No leaked question lists. The questions you get are generated against your own resume, so they are not from anyone else's interview.

  • companyBank of America Careers, student application processcareers.bankofamerica.com

    Separate published stage lists for U.S. and Canada, Latin America, EMEA and Asia Pacific; the on-demand video interview mechanics (30 seconds to prepare, up to three minutes to answer, roughly 20 to 30 minutes total, no follow-up questions); rolling review; the EMEA assessment center; the Asia Pacific digital interview on HireVue; and the final round being run by the business area you applied to.

  • companyBank of America Careers, hiring processcareers.bankofamerica.com

    The firm-wide four-step process (find the role, apply, interview, offer) and the statement that the interview process mixes phone calls, in-person conversations and video interviews with HR, business managers and possible peers.

  • companyBank of America Careers, student programscareers.bankofamerica.com

    Global Corporate & Investment Banking as a campus line of business, and its scope across advisory, debt and equity underwriting.

  • datalevels.fyi, Bank of Americalevels.fyi

    Analyst compensation and level context. No interview-process content.

Sources last checked . Hiring loops change, so this date is the honest limit on everything above.

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