20 Lazard Interview Questions and Answers

Lazard is a financial advisory and asset management firm that offers a wide range of services to its clients. Because of the nature of the work, Lazard interview questions will focus on your financial knowledge and experience. However, the company is also interested in your ability to think creatively and solve problems.

To help you prepare for your interview, we have compiled a list of sample questions and answers that you may be asked. These questions will focus on your experience in the financial industry, your knowledge of investments, and your ability to think critically.

Lazard Interview Process

The interview process at Lazard can vary depending on the position you are applying for. However, most positions will require at least one phone interview and one in-person interview. For some positions, like investment banking analyst, there may be multiple rounds of interviews. The difficulty of the interviews also varies depending on the position. Some positions, like financial summer analyst, have mostly technical questions, while others, like M&A intern, have mostly behavioral questions. Overall, the interview process is generally positive, with friendly interviewer s and quick turnaround times.

1. What is your background in finance?

This question is an opportunity to share your relevant experience and qualifications with the interviewer. If you have a finance degree, include it in your answer. If not, explain what other experiences make you qualified for this role.

Example: “I graduated from the University of California at Berkeley with a bachelor’s degree in business administration. I also completed my CFA certification last year, which has given me valuable insight into how financial markets work. My internship at Lazard was part of that program, where I learned about investment strategies and gained valuable experience working with clients.”

2. How do you stay up to date with the financial news?

The interviewer may ask this question to learn more about your interest in financial news and how you use it to stay informed. You can answer by explaining which sources you read or watch, what types of information you look for and why you choose those sources over others.

Example: “I subscribe to several financial publications that I find through a search engine. I also have subscriptions to some online newsletters that provide daily updates on the markets. I find these resources helpful because they give me an idea of what’s happening in the market and help me decide when to make changes to my portfolio.”

3. Tell me about a time that you were faced with a difficult decision.

This question can help interviewers learn more about your decision-making skills and how you handle challenges. When answering this question, it can be helpful to describe a specific situation in which you had to make a tough call and the steps you took to reach a conclusion.

Example: “When I was working as an investment advisor at my previous company, I had a client who wanted me to invest their money into a private equity fund that would have paid out high returns but also carried a lot of risk. While I knew that investing in this fund could lead to higher returns for my client, I also knew that if something went wrong with the fund, there wouldn’t be much I could do to fix it. In the end, I decided to recommend another private equity fund that offered lower returns but also less risk.”

4. Do you have any experience working on teams?

Lazard is a firm that requires its employees to work in teams. The interviewer may ask this question to learn more about your teamwork skills and how you’ve applied them in the past. If you have experience working on teams, describe what made it successful. If you don’t have experience working on teams, explain why you’re excited to do so at Lazard.

Example: “I’ve worked on several teams throughout my career. In college, I was part of a team that won first place in our state’s business plan competition. We were able to win because we each had different strengths and used those strengths to support one another. At my last job, I was part of a small project team that helped me develop my ability to work with others. I’m looking forward to applying these skills at Lazard.”

5. Can you describe the difference between revenue and profit?

This question is a great way to test your knowledge of financial terms and concepts. When answering this question, it can be helpful to define the two terms and explain how they differ from one another.

Example: “Revenue refers to the total amount of money that a company brings in during a specific time period. This includes all sales, interest, fees or any other form of income. Profit, on the other hand, is the difference between revenue and expenses. Profits are important because they show how much money a company has left over after paying for its operating costs.”

6. Why are you interested in Lazard?

This question is an opportunity to show your enthusiasm for the company and its values. When preparing for this interview, read about Lazard’s mission statement and goals to make sure you can relate them to your own career goals.

Example: “I am interested in Lazard because of its reputation as a leader in financial advisory services. I have always been passionate about finance and investing, so I would love to work at a firm that has such a strong record of success. I also appreciate the fact that Lazard places a lot of emphasis on diversity and inclusion. As someone who identifies as LGBTQ+, I know how important it is to be able to bring my whole self to work.”

7. Have you worked under deadlines before?

Lazard is a fast-paced environment, and the interviewer may want to know if you have experience working under pressure. Use your answer to highlight your ability to work quickly while maintaining high quality results.

Example: “I’ve worked in a busy financial advisory firm for five years now, so I’m used to working under deadlines. In my previous role, I was responsible for managing client accounts and generating reports on time. I also had to meet with clients regularly to discuss their portfolios and make recommendations. I always made sure to complete all of my tasks by the deadline.”

8. Are you comfortable taking initiative and leadership when necessary?

Lazard is a firm that values initiative and leadership, so it’s important to show the interviewer you’re comfortable with these qualities. Use examples from your past experience where you took initiative or led a project to completion.

Example: “In my last position as an investment analyst at Smith & Company, I was tasked with creating a new financial model for our client’s company. The client needed this information in order to apply for a loan, so there was a deadline. I worked with my team to create the model, but when we were almost done, I realized some of the numbers weren’t correct. So, I decided to take initiative and fix the problem myself. It ended up taking me longer than expected, but I saved the company time and money by fixing the issue.”

9. Describe a situation where you had multiple priorities and how you handled it.

This question can help the interviewer understand how you prioritize your work and manage competing priorities. Use examples from previous roles to describe how you handled multiple projects or tasks at once, and highlight any skills that helped you complete them successfully.

Example: “In my last role as a financial advisor, I had several clients who were looking for investment advice on their retirement accounts. One client was interested in investing in stocks while another wanted to invest in bonds. I knew that if I recommended both of these options to each client, they would be too much for me to handle alone. So, I asked one of my colleagues to assist me with the bond investments so I could focus on the stock investments.”

10. How do you work with people who disagree with you?

Lazard is a company that values teamwork and collaboration. Your answer should show the interviewer you can work with others to find solutions or compromises when needed.

Example: “I believe it’s important to listen to all sides of an argument before making my decision. I try to understand why someone disagrees with me, and if they have valid points, I’ll consider changing my mind. If not, I’ll explain why I disagree with them and offer alternative solutions.”

11. What is your opinion of the current state of the market?

The interviewer may ask this question to gauge your market knowledge and opinions on the current state of the economy. It’s important to be honest in your response, but you can also use it as an opportunity to show how you would apply your analytical skills to help Lazard clients make informed decisions about their investments.

Example: “I believe that the current state of the market is a good time for investors who are looking to diversify their portfolios. The stock market has been volatile recently, which makes now a great time to invest in alternative assets like real estate or private equity funds.”

12. What steps would you take to help a client complete an IPO?

This question can help interviewers understand your knowledge of the IPO process and how you would apply it to a client’s needs. Use examples from previous experience or explain what steps you would take if you haven’t worked with an IPO before.

Example: “I have helped clients complete IPOs in the past, so I know that there are several important factors to consider when helping them decide whether this is the right move for their company. First, I would evaluate the company’s financials to see if they’re ready for an IPO. Then, I would look at the market conditions to make sure the timing is right. Finally, I would work with my client to determine which exchange would be best for their business.”

13. Tell us about a time you had to deal with a difficult co-worker, what did you do?

Lazard is a company that values teamwork and collaboration. Your answer should show the interviewer you can work well with others, even if they are difficult to get along with.

Example: “I once had a colleague who was very critical of my work. I tried to be as friendly as possible but he always found something wrong with what I did. Eventually, I realized this person just needed reassurance in his own abilities. So, I started asking him for advice on how I could improve my work. He seemed surprised by this change in attitude but eventually became more helpful and supportive.”

14. Give an example of when you took on more responsibility than was asked of you.

Lazard is looking for employees who are willing to take on more responsibility when needed. This shows that you’re a team player and eager to learn new skills. When answering this question, think of an example where you were able to complete tasks or projects without being asked.

Example: “In my previous role as a financial analyst, I was tasked with creating quarterly reports for the company’s board of directors. However, one week before the deadline, our CFO left the company unexpectedly. I took it upon myself to finish the report by myself so we could still present it to the board members.”

15. Give me an example of a time when you had to prioritize tasks in order to meet a deadline.

This question can help the interviewer understand how you manage your time and whether or not you have experience working under pressure. Use examples from previous work experiences to show that you are organized, detail-oriented and able to meet deadlines.

Example: “In my last role as a financial advisor, I had to prioritize tasks in order to meet client expectations while also ensuring that all of my team members were meeting their goals. This was especially important when it came to quarterly reviews, where I would need to ensure that our clients’ portfolios were performing well and that we were meeting their investment objectives.”

16. Explain EBITDA to someone who has no prior knowledge of business or economics.

EBITDA is an acronym for earnings before interest, taxes, depreciation and amortization. It’s a financial metric that measures the operating performance of a company by excluding non-cash expenses such as depreciation and amortization. This question tests your ability to explain complex concepts in simple terms.

Example: “EBITDA is essentially a measure of how much money a business makes from its operations. The formula is EBITDA = Net Income + Depreciation and Amortization. In my last role, I used this metric to help determine whether or not we should invest in a particular company.”

17. Provide an example of a personal goal you set for yourself and how you went about achieving it.

Lazard is looking for candidates who are goal-oriented and driven to succeed. This question helps them determine if you have the ability to set goals, plan out how to achieve them and follow through with your plans.

Example: “I recently decided I wanted to learn a new language. I started by researching different methods of learning languages online. I found that Duolingo was one of the most effective ways to learn a new language. I signed up for their free trial and began studying every day. After two months, I had learned enough Spanish to hold basic conversations.”

18. What do you see in our business that you think needs improvement?

This question is a way for employers to see how you would fit into their company culture. They want someone who can be honest and direct, but also tactful when offering suggestions. When answering this question, it’s important to show that you are willing to help the company improve in any way possible.

Example: “I think one thing Lazard could do better is offer more opportunities for advancement. I’ve noticed many employees have been here for years, which means they aren’t getting promoted or learning new skills. This may lead to some dissatisfaction among staff members. I’d like to work with management to create a plan to promote employees regularly so everyone feels challenged.”

19. If I spoke with your last manager, what would they say about you?

This question is a great way to learn more about the candidate’s work ethic and how they interact with others. When answering this question, it can be helpful to mention something specific your last manager said that you found particularly meaningful or impressive.

Example: “My last manager would say I am an extremely hard worker who always strives for excellence in my work. She also mentioned that she appreciated my ability to think outside of the box when solving problems and that I was always willing to help out wherever needed.”

20. Give me an example of a time when you utilized resources creatively.

Lazard is looking for candidates who can use their resources to solve problems and create solutions. This question allows you to show your problem-solving skills, creativity and ability to work with others.

Example: “At my previous job, I was tasked with finding a way to reduce the cost of our company’s health insurance plan. After researching several options, I found that we could save money by switching from an HMO to PPO. However, this would require employees to switch doctors. Instead of making everyone change doctors, I worked with human resources to offer employees the option to choose a new doctor or stay with their current one. We saved thousands of dollars while still giving employees the freedom to make their own choice.”