Centerview Partners · Investment banking analyst · Summer Analyst / Analyst
Final round technicals
Senior bankers, harder valuation and teasers you cannot prepare for
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.
- “How would you value Tesla, and what key items would you include in a pitchbook for its valuation?”
- “How do you account for Stock-Based Compensation (SBC) in a DCF?”
- “Over a 24-hour period, how many times does the minute hand on a standard 12-hour analog clock completely pass the hour hand?”
- “Estimate what percentage of the total land area of Chicago is covered in concrete.”
- “Name ten things you can do with a charger besides charging a device.”
What this round is judged on
- Valuation · a real company valued with the items that actually matter
- Estimation under pressure · assumptions named, then carried through
- Mental math · fast arithmetic done aloud without losing the thread
- Poise · staying structured and personable on an unanswerable prompt
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.
- 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.
- MAAccretion / dilution
- Strong
- compares the two P/Es for a stock deal (higher acquirer P/E = accretive); for cash/debt, compares financing cost to the earnings yield; notes synergies can change the outcome.
- We flag
- claims an all-stock deal is always accretive because no cash is spent; ignores the relative multiples entirely.
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
Centerview Partners’s published process. Lime marks the stage this round runs.
- 01Application
- 02Recruiter screen
- 03First-round interviews
- 04Final roundthis round
- 05Offer
What happens in each stage›
- Application
- A resume through the online form on the Centerview careers page. Centerview recruits formally at a set of undergraduate campuses and informally from a much broader range, and says it is open to candidates from all schools and academic disciplines. Applying to more than one office is explicitly not reviewed, so pick the office.
- Recruiter screen
- A short screen before you meet bankers. Centerview does not publish its interview stages, so the form of this round is candidate-reported. The content is a resume walk, why banking, why Centerview, and a first read on how you think out loud.
- First-round interviews
- Interviews with bankers, mixing fit with fundamentals. Centerview is the outlier of the elite boutiques in what it asks: alongside standard accounting and valuation, the reported bank is heavy with brain teasers, market-sizing estimates and mental math, because the firm is reading raw problem solving rather than memorised drills.
- Final round
- Back-to-back sessions with senior bankers, including the partners who run the deals. The estimation and mental-math content gets harder and less predictable, and it sits next to real valuation and merger questions and a hard read on whether you would be good in a room with a CEO.
- Offer
- Centerview hires summer interns from the junior class and full-time analysts after graduation, and says it commits extra resources to analysts in the hope they stay beyond the analyst years rather than rolling off at two.
Sources
Built from what Centerview Partners 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.
The firm's stated hiring philosophy, "Bankers at Centerview Partners are made, not born", its openness to candidates from all schools and academic disciplines with various work experiences, summer internships for college juniors feeding full-time analyst hiring, the deliberate departure from a two-year analyst program in favour of investing so analysts stay longer, resume submission through an online form, and the instruction that applications to multiple offices will not be reviewed.
The advisory lines a candidate is hired into: Strategic Advisory, Restructuring and Recapitalization, Independent Board Advice, Special Committee, Shareholder Activism and Capital Advisory. Also the Vault survey ranking the firm the number one investment bank to work for.
Investment banking compensation and level context. No interview-process content.
Sources last checked . Hiring loops change, so this date is the honest limit on everything above.