Goldman Sachs IBD Analyst Interview: Full Superday Breakdown (2025 Offer)

I got my Goldman Sachs Investment Banking Division offer two days ago. I've been fielding a lot of messages from friends asking how the process went, so I figured I'd write it all up properly here instead of repeating myself over text.

This is the full breakdown of my Goldman Sachs IBD interview process — every stage, every question I remember, and the things I wish I'd known going in.

Quick Stats

• Role: Investment Banking Analyst, IBD (generalist coverage)
• Location: New York, NY
• Timeline: ~6 weeks from application to offer
• Rounds: HireVue → Superday (5 interviews)
• Outcome: Offer — $110k base, ~$165k total first-year comp

I'm a senior at a semi-target school. I had one Goldman-specific coffee chat before applying, which I think helped my resume get a closer look.

Stage 1: HireVue Video Interview

The HireVue came about two weeks after I submitted my application. It's asynchronous — a camera records you answering questions with a countdown timer. You get one or two practice questions first, which helps you get comfortable with the format. The real questions were:

• "Why Goldman Sachs specifically? Why not another top bank?" (They really mean this one — you need a real answer, not "prestigious culture")
• "Tell me about a time you had to manage two competing deadlines simultaneously."
• "Walk me through a recent M&A deal or IPO you've been following and what you think of it."

For the deal pitch, I talked about a mid-cap specialty pharma acquisition I'd been tracking. I knew the strategic rationale, approximate deal size, and why the premium made sense. Keep it specific — vague answers on HireVue hurt you.

Stage 2: The Superday

A few weeks later, I was invited to the virtual Superday. Five back-to-back 30-minute interviews with people ranging from a first-year Analyst to a Managing Director. It went from 9 AM to 1 PM with short breaks. By interview four, your brain is running on fumes, which I think is partly the point.

Technical Questions

Goldman expects you to know your accounting and valuation cold. Not just the concepts — the mechanics. Every answer needs to be fast and precise.

Questions I was asked across the five interviews:

Three-statement modeling:

• "Walk me through what happens to all three financial statements if depreciation goes up by $10."
• "If a company repurchases $50M of stock using cash, walk me through the impact."

Valuation:

• "Walk me through a DCF from scratch. How do you choose your discount rate?"
• "What's the difference between equity value and enterprise value, and when would you use each?"
• "If a company has negative EBITDA, how do you value it?" (They want EV/Revenue, comparable transactions, or liquidation value — not "you can't value it")
• "A company issues $100M in debt and uses the proceeds to buy back $100M in equity. What happens to EV?"

Markets awareness:

• "Where do you see the 10-year Treasury going in the next 12 months and why?"
• "What sectors are currently seeing elevated M&A activity?"

Behavioral / Fit Questions

These happened primarily in the VP and MD interviews. Goldman interviewers reference the company's 14 Business Principles constantly — it's not just a branding exercise, they genuinely filter for alignment with them.

• "Which of Goldman's 14 Business Principles resonates most with you? Why that one?"
• "Walk me through your greatest professional failure. What did you learn?"
• "Are you more of a leader or a team player? Give me a specific example."
• "If I called your last internship manager right now, what would they say is your biggest weakness?"
• "If we give you an offer today, will you sign?" — Say yes. They want commitment signals.

The "stress test" moment

In my MD interview, he interrupted my DCF walkthrough mid-sentence: "You're going too slow. If you were in a live deal and I asked you to summarize this, how would you do it in 30 seconds?"

It's a composure check. Don't apologize excessively, don't rush into rambling. Just reset, synthesize, and deliver cleanly.

One Thing Nobody Tells You About Superdays

After a Superday, your interviewers compare notes. Goldman interviewers are coordinated — they flag inconsistencies. If you tell one story to an Associate and a slightly different version to an Analyst, it comes up. Keep your answers consistent. Better yet, have a small set of genuinely strong stories and rotate them deliberately.

Compensation

First-year Analyst base in NYC is $110,000. With the year-end bonus (typically 50–100% of base for strong performers), total first-year comp lands in the $165,000–$180,000 range. The hours are brutal — I knew what I was signing up for, and I still want it.

Feel free to drop questions below. Happy to help anyone who's prepping for IBD recruiting.