Just finished the Goldman IB analyst process, summer 2026 cycle. Going to write this out while it's fresh.
First round was a HireVue, 30 minutes, three behavioral questions and one technical (basic DCF mechanics, nothing exotic). Turnaround on feedback was 10 days, which felt long.
Superday was a full day, five rounds: two behavioral, one technical finance, one markets awareness, one "fit" with a managing director that was essentially a stress test. The MD just... stopped asking questions at one point and waited. I think she wanted to see if I'd fill silence nervously. I gave one more clean sentence and let it sit. I think that was right.
Technical round had LBO structure, accretion/dilution, walk me through a DCF, and one curveball about a company I'd mentioned in my "deals you're watching" answer. Know what you claim to know. They will poke it.
What surprised me: the behavioral rounds were actually harder than the technicals. "Tell me about a time you disagreed with a team decision" and "when did you miss a deadline" are not softballs here. They want a real story, not a polished non-answer.
Offer came 6 days after Superday. Base is in line with street, signing is competitive. Overall experience was intense but felt fair.