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Citi interview questions

114 questions researched across 6 Citi seats in Banking, Markets, Wealth. Below are 12 of them.

Seats we researched

  • Investment Banking AnalystBanking · graduate · 30 min
  • Markets Summer AnalystMarkets · intern · 20 min
  • Investment Banking Summer AnalystBanking · intern · 20 min
  • Wealth InternWealth · intern · 20 min
  • Operations InternOperations & Technology · intern · 20 min
  • Technology InternTechnology · intern · 20 min

12 Citi interview questions

  1. What happens to the balance sheet in a merger?

  2. Explain the difference between management rollover and management incentive equity.

  3. Walk me through a CIM you worked on: the sections, your responsibilities, and the tools you used.

  4. Walk me through how $10 of depreciation flows through the three statements, assuming a 25% tax rate.

  5. A company buys a factory this year for $100 million and depreciates it straight-line over ten years. Walk me through how each statement looks three years out.

  6. A company trades at 15x EV to EBITDA with a 20% EBITDA margin. What's its EV to revenue multiple?

  7. Explain terminal value and the two ways to calculate it.

  8. Walk me from revenue down to unlevered free cash flow.

  9. Company A trades at 20x earnings and buys Company B for 15x earnings in an all-stock deal. Accretive or dilutive, and why?

  10. How would a rise in interest rates change a DCF?

  11. What are you following in the markets right now, and why does it matter for Citi's clients?

  12. Pitch me a stock.

What a strong answer does

The questions above fall into 3 kinds. What a strong answer does differs by kind, not by question.

Technical9 of 12 above
State the intuition first; walk through the mechanics; make assumptions explicit; test a risk or edge case; connect the answer to the role.
Market2 of 12 above
State a view; support it with evidence and a catalyst; explain valuation or transmission; give the strongest countercase; name the risk that would change your mind.
Behavioral1 of 12 above
Lead with the claim and context; isolate your personal action and decision; explain the trade-off; quantify the result; finish with what you learned and changed.

102 more Citi questions

The rest of the bank — 114 in total — is asked by the interviewer during practice, so you meet them the way you would on the day rather than reading them first.

Practise Citi questions

How these questions were researched

Every question carries a provenance grade. Some were reported by candidates who sat the round, some come from the firm’s own published guidance or a source that trains for it, and the rest are written to match how this firm asks. Each seat is studied on its own — the round it actually runs, the order it runs it in, and what it is listening for. A Citi round is not a generic behavioural screen, and practising one as the other is how people walk in unprepared.

Falas is not affiliated with or endorsed by any employer named. Simulations are independent practice based on publicly described recruiting formats.