Lazard Interview Questions: What They Look for and How to Ace Them

Knowing the real Lazard interview questions is the first step to landing an offer at one of the world's most prestigious M&A advisory firms. This guide gives you exactly that—verified questions from the front lines of Lazard's notoriously rigorous hiring process. We'll show you how to master them and how Cook'd AI can give you the edge to ace your interview.

Verified Lazard interview questions

These are the questions Lazard is asking candidates right now; we've categorized each one by division, group, type, and model to structure your prep.

1. Why do you want to work at an Elite Boutique instead of a Bulge Bracket like Goldman Sachs?
2. What's your favourite class at college? Why?
3. A company issues 100 in dividends. Using a 40% tax rate, walk me through the impact on the 3 statements.
4. What is the most interesting thing you have read or learned about recently that is not finance-related?

Question Division Group Type Model Why do you want to work at an Elite Boutique instead of a Bulge Bracket like Goldman Sachs? IBD General Behavioral Motivation What's your favourite class at college? Why? IBD General Behavioral Motivation A company issues 100 in dividends. Using a 40% tax rate, walk me through the impact on the 3 statements. IBD General Technical Accounting 3 statement Walkthroughs What is the most interesting thing you have read or learned about recently that is not finance-related? IBD Capital Markets Behavioral Skills / Attribute

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15+ other common Lazard interview questions

Accounting & valuation questions

1. Walk me through a Discounted Cash Flow (DCF) analysis. What are the key assumptions and drivers?
2. How would you value a financial advisory firm like Lazard? What makes it different from valuing a standard industrial company?
3. If Lazard were advising a client, what are the key accounting red flags you would look for during due diligence on a target company?
4. How does a $100 increase in depreciation flow through the three financial statements, assuming a 25% tax rate?
5. Given Lazard's strength in restructuring, what are the primary differences when valuing a distressed company versus a healthy one?

Markets & macro questions

1. What is your view on the current M&A market, and how do you see interest rate trends impacting deal flow for a firm like Lazard?
2. Pitch me a stock you think Lazard's asset management division should be looking at. What are the key catalysts and risks?
3. If you were on a Lazard advisory team for a major cross-border acquisition today, what are the top three geopolitical risks you would highlight to the client?
4. Where do you see the S&P 500 in 12 months and what are the key macro drivers behind your prediction?

Deal, client, & behavioral questions

1. Walk me through a deal you've followed recently. What were the strategic rationales for the buyer and seller?
2. Lazard is known for its advisory-focused model. How would you handle a situation where a client is insistent on a course of action you believe is not in their best interest?
3. Tell me about a time you worked on a team and had a significant disagreement with a colleague. How did you resolve it?
4. Beyond its reputation, why do you want this job at Lazard specifically? Mention a deal or aspect of the firm's culture that attracts you.
5. Describe a time you had to manage multiple competing deadlines. How did you prioritize?
6. What do you consider your greatest strength, and what is a key weakness you are working to improve?

Role-specific questions

1. As an Analyst at Lazard, you'll work in lean teams with significant responsibility. Describe a time you had to take ownership of a project with minimal supervision.
2. Lazard Asset Management is known for its fundamental, long-term investment philosophy. Pitch us a company, not just a stock, that you believe has a durable competitive advantage that will last for the next decade.
3. Given Lazard's leadership in restructuring, what are the early warning signs you would look for in a company's financials that might indicate impending distress?
4. Imagine you are advising a client on financing a major acquisition. What are the pros and cons of using high-yield debt versus equity in the current market environment?
5. How could quantitative analysis be used to enhance Lazard's M&A advisory process? Give a specific example.
6. Our clients trust Lazard for its independent judgment. Tell me about a time you had to deliver an unpopular opinion to a superior or client. How did you handle it?

How to answer interview questions at Lazard

Lazard interviews test for judgment and composure, not just technical knowledge. Your answers must be structured, clear, and concise. For behavioral questions, which are critical at elite boutiques, this means using a framework to prove your competency.

• Use the STAR Method: The most reliable framework is the STAR interview method (Situation, Task, Action, Result). It keeps your answers focused and under two minutes. For a question like "Why an Elite Boutique?", use STAR to frame a real experience that demonstrates your preference for lean teams and deep advisory work.
• Structure Technicals: Even for technical walkthroughs like the "3 statement impact of dividends," structure is key. State the initial change, then walk through each statement logically. Don't ramble; show clear, linear thinking.
• Emphasize Your Role: In the "Action" part of your story, always use "I," not "we." Lazard wants to see individual contribution and ownership, which is essential in their lean deal teams. Close with a quantified "Result" to make your impact concrete.

This structured approach is a skill. Cook'd AI helps you practice it, with one incoming Lazard analyst noting it "pointed out that I messed up the accretion/dilution logic in my M&A pitch." That's the level of detail that lands offers.

What Lazard looks for in candidates

Lazard prizes technical skill, but they hire for judgment. They look for candidates with strong problem-solving abilities, cultural fit, and composure under pressure. More than just your technical knowledge, they evaluate your communication—can you be concise and relevant? They value flexibility, especially an openness to groups beyond restructuring, and a real-world awareness of their recent deals and market trends.

If you're from a target university

Your path is more defined, but also more competitive. Focus your preparation.

1. Don’t over-index on restructuring. Lazard hires summer analysts as generalists. Expressing a rigid preference for RX can be a red flag. Show interest, but emphasize your desire to learn across the firm.
2. Prioritize M&A technicals. Your first-round interviews will be M&A-focused. Save the deep restructuring dive for when you are angling for group placement at the end of the summer.

If you're from a non-target university

You have to create your own path. The interview standards are identical, but getting there is different.

1. Make your application flawless. Your resume is your first and most critical test. It must be perfect to get noticed without an on-campus presence. An employee referral is your single best tool for getting a look.
2. Master your story and technicals. You may only get one shot. You need to prove you belong by demonstrating not just competence, but the polish and cultural understanding that shows you're ready for the role.

Lazard interview tips

Before your Lazard interview

• Master your story and know the firm's deals. You need a crisp way to tell me about yourself and a specific Lazard transaction you can discuss intelligently, connecting it to why you want an advisory-focused role.
• Practice your technicals out loud. Your ability to explain a complex topic like a DCF under pressure signals composure, which Lazard values highly.
• Prepare questions that show you've done the work. Your questions for the interviewer should demonstrate genuine curiosity about Lazard's culture, recent deals, or the analyst experience.

During the interview with Lazard

• Take a moment to think before answering a tough technical question. A thoughtful pause signals composure, while a rushed, incorrect answer signals panic.
• Answer the question asked, then stop. Lazard interviewers are testing your ability to be concise and client-ready; rambling is a major red flag.
• If you make a mistake, own it and correct it calmly. How you recover reveals more about your judgment than getting every detail perfect.

After the interview with Lazard

• Send a brief, professional follow-up email within 24 hours. Reference a specific, interesting point from your conversation to reinforce your engagement and leave a strong final impression.
• Debrief immediately. Note down the questions you were asked and honestly assess your answers, especially the technicals, so you can refine your approach for the next round.

Get the Cook’d AI advantage for your Lazard interview

Your Lazard interview doesn't have to feel like a high-wire act. With the right preparation, it can feel like a conversation where you get to demonstrate everything you've worked for.

Cook'd AI functions as your personal career mentor, anticipating exactly what you'll face in Lazard's rigorous interview process — from behavioral questions to technical deep dives — and managing every detail of your preparation so you can focus on what matters: showing up confident, prepared, and ready to impress.

Through personalized coaching, behavioral simulations, and real-time feedback, you'll build the kind of clarity and consistency that makes interviewers remember you for the right reasons.

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