Lazard Summer Analyst Technical Questions 2027: The Full List

Lazard's Summer Analyst interviews for the 2027 intake include a serious technical screen — around twenty rapid-fire questions covering accounting, valuation, and M&A mechanics. This is not a "walk me through your CV" chat. Interviewers run down a list, and hesitation on basics is fatal. Below is the full list to master.

Accounting: Lazard Summer Analyst Technical Questions

• Walk me through the three financial statements and how they link.
• If depreciation goes up by $10, how do the three statements change?
• What is working capital, and how does an increase affect cash flow?
• Deferred revenue — is it an asset or liability, and why?
• Walk me through a D&A add-back in the cash flow statement.

Valuation: Lazard Summer Analyst Technical Questions

• Walk me through a DCF, step by step.
• What is WACC and how do you calculate it?
• Why do we use unlevered free cash flow in a DCF?
• What are comparable companies and precedent transactions?
• When would you use each valuation methodology?
• What is an appropriate exit multiple vs perpetuity growth rate?
• How do you value a company with negative earnings?

M&A and Lazard-Specific Technical Questions

• Walk me through an accretion/dilution analysis.
• What is enterprise value, and how do you get from equity value to EV?
• Why would a buyer pay a control premium?
• What happens to EPS in an all-stock vs all-cash deal?
• What is a PIK toggle, and when is it used?
• Walk me through a simple LBO — what drives returns?
• What is the difference between a merger and an acquisition, technically?

How to Prepare for Lazard Summer Analyst Technical Questions

Knowing the list is step one; answering crisply under pressure is the real test. Drill each question out loud until your answers are automatic — interviewers notice the difference between understanding and fluency. Work through the mechanics on paper: build a mini-DCF, link the statements by hand, run an accretion/dilution example. And use real Lazard questions with model answers: our 2027 Lazard Online Assessment Video Interview Exact Questions and Answers pack contains the exact technical questions Lazard asks with full answers, so you rehearse the real thing instead of generic guides. Twenty questions, no surprises.

FAQ

How technical is the Lazard Summer Analyst interview? Very. Expect a dedicated technical round with rapid-fire questions — basics must be instant.

Do I need to know restructuring technicals? Yes — Lazard-specific questions on PIK, distressed, and waterfalls appear regularly. See our restructuring guide.

What if I don't know an answer? Reason aloud from first principles. Saying "I don't know, but here's how I'd think about it" beats silence.

Are technicals in the video interview too? Usually one technical question appears in the video interview; the deep technical grilling happens in later rounds.

Preparing for Lazard's technical interview? Our 2027 Lazard Online Assessment Video Interview Exact Questions and Answers has the exact questions and answers — $79 one-time, instant download.