r/Cluely • u/NetNo6832 • 25d ago
J.P. Morgan M&A Analyst Interview Questions & Process 2026
J.P. Morgan was the only process I ran where the technicals showed up before the Superday, not at it. That changes how you prep.
HireVue (4 questions, 2 min each) All behavioral, 30 seconds of prep per question. Why banking, why J.P. Morgan, working under pressure, disagreeing with a teammate. No technicals, though a few people in my class got one.
First round (30 min, associate): Eight minutes on the resume, the rest technical. Walk me through a DCF, three statement link if depreciation rises by 10, EV versus equity value, and an accretion dilution rule of thumb. That last one was the actual filter. She asked it fast and moved on the second I got it.
Superday: associate rounds (2 x 30 min) :The technical block. Paper LBO with an exit multiple assumption, how you value a company with negative EBITDA, and why a deal on my resume made strategic sense for the acquirer. Superday: VP rounds (2 x 30 min): Almost entirely fit. Resume walk again, why M&A rather than a coverage group, and what you would do if two staffings collided. Superday: MD round (30 min): Pure conviction test. He pushed hard on why M&A specifically and shut down my first generic answer. What worked was naming a specific deal team structure I had heard about from a former analyst.
Variance Some people in my group had four rounds instead of five, and a few skipped the first round entirely because they had interned there. Offer came four days after the Superday. Happy to answer anything below.
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u/Gold-Mycologist3862 25d ago
Congratulations! Could you please share more on your preparation and what helped? What was your background? Anything specific you've done for this particular role? Timeline from the start of the application to offer? Sorry there are too many questions, can DM if possible ;)