Bank deck
Lazard interview questions
Lazard-specific prep: storied advisory franchise, restructuring pedigree, cross-border M&A focus, and the fit answers that land.
Start free45 questions · included with every Pro plan
Prepping the fit side too? How to answer "Why Lazard?" →
Wondering about pay? The IB salary calculator has analyst and associate ranges from named public sources.
Every question in the deck
- When and where was Lazard founded, and what was its original business?
- What were the three 'houses' of Lazard, and why do they matter to the firm's identity today?
- Who was Michel David-Weill, and what happened to Lazard's structure in 2000?
- Who was Felix Rohatyn, and what is he best known for?
- Who was André Meyer, and why does his name still come up at Lazard?
- How and when did Lazard go public, and who drove it?
- What does it mean that Lazard is often called the oldest independent advisory franchise on Wall Street?
- Where is Lazard listed and headquartered, and what are the practical logistics details a candidate should know?
- Sketch the historical arc of Lazard in six to eight beats — the version that shows genuine depth in a 'what do you know about us' answer.
- How should you handle questions about Lazard's leadership, given that leadership changes over time?
- Give the model answer structure for 'Why Lazard specifically?'
- Why work at an independent advisory firm like Lazard instead of a bulge bracket? Give both sides.
- How do you answer 'Why Lazard over Evercore, PJT, or Moelis?' without trashing anyone?
- What do lean deal teams at Lazard mean for the analyst experience, and how do you use that in interviews?
- Lazard is often described in the 'haute banque' tradition — what does that mean, and how does it show up in the firm's culture?
- 'What do you know about our culture?' — give the model answer structure for Lazard.
- What questions should you ASK a Lazard interviewer at the end?
- How does Lazard's international character affect day-to-day work, and what should you emphasize as a candidate?
- How do you build a behavioral story that maps to Lazard's 'trusted adviser' identity?
- An interviewer pushes: 'You'd get capital markets and balance-sheet exposure at a bulge bracket. Aren't you worried about the narrower platform here?' How do you answer?
- At a structural level, how does Lazard make money? Describe the segment logic a candidate should understand.
- What does Lazard's Financial Advisory business actually do beyond plain-vanilla M&A?
- What should a banking candidate know about Lazard Asset Management?
- Why is Lazard's business model often described as resilient across cycles?
- What is Lazard's position in restructuring, and why does the franchise matter to a candidate?
- What is sovereign advisory at Lazard, and why is it distinctive?
- Why is Lazard structurally strong in cross-border M&A, beyond simply having foreign offices?
- How does an independent advisory firm actually earn revenue on a deal, and why does 'no balance sheet' matter?
- What is the typical process shape for a Lazard summer analyst candidate?
- What should you expect at a Lazard superday, and how do you prepare for the emphasis?
- How do Lazard restructuring interviews differ from standard M&A interviews, and how do you prepare?
- How does networking for Lazard differ from networking a bulge bracket?
- Does Lazard recruit generalists or into specific groups, and how should you prepare either way?
- Restructuring basics: what is the difference between Chapter 11 and Chapter 7 bankruptcy?
- What is DIP financing, and why would anyone lend to a bankrupt company?
- Explain the absolute priority rule and the recovery 'waterfall' in a restructuring.
- What is the fulcrum security, and why do distressed investors care so much about it? Work a quick example.
- Out-of-court restructuring versus Chapter 11: what are the tradeoffs, and what is the holdout problem?
- What signs tell you a company is a restructuring candidate?
- What is a 363 sale, and how does it differ from a plan of reorganization?
- How does valuing a distressed company differ from valuing a healthy one?
- You're advising on a cross-border acquisition. What considerations come up that a domestic deal wouldn't have?
- How do you handle currency in a DCF for a foreign target, and where does country risk enter?
- Why do precedent transactions usually imply higher values than trading comparables, and when do you rely on each?
- How do the main valuation methodologies typically rank on a football field, and how does that feed a fairness opinion?
Every answer is human-reviewed — written & reviewed by people who've worked at bulge-bracket banks, leading hedge funds, and top tech finance teams; firm facts verified against primary sources.
Also interviewing at…
Interviewing at more than one bank?
Pro covers all 30 decks (2,300+ questions) — including every bank deck — including this one — forever.
Email me the Lazard question list.
Every published question from the Lazard deck, each linking to its page — one email, free, no mailing list.
Free tier: 20 cards + 10 daily reps + ALL drills — no credit card required.
Try the real thing
1 / 3LBO & Paper LBO
What is a leveraged buyout?
10 real questions a day, picked for you.
Free tier: 20 cards + 10 daily reps + ALL drills — no credit card required.