In this article, Ben shares insights from conducting more than 700 interviews for investment banking and private equity internships and graduate roles in 2025. Drawing on real interview experiences, he highlights common mistakes candidates still make, from weak first impressions in phone interviews to over-reliance on AI during preparation. Ben emphasises that the strongest candidates stand out not through rehearsed answers, but through clear communication, genuine engagement and depth of understanding.
In 2025, I conducted more than 700 interviews for internships and graduate roles in front-office corporate finance, including investment banking and private equity. Many of these were early-stage screening calls, while others were technical interviews designed to test both knowledge and commercial thinking.
You might expect that with AI tools becoming more common and the graduate market as competitive as ever, the quality of interviews would have improved.
Surprisingly, that wasn’t always the case. Some candidates still struggled with fundamentals that can make or break an impression. Often, the difference between a strong and a weaker candidate wasn’t intelligence or work ethic – it was how clearly they communicated and how well they demonstrated genuine understanding.
As someone who regularly conducts technical interviews for investment banking, private equity and other financial institutions, I want to share a few insights that go beyond the usual advice.
These are observations from real conversations – things that can help you stand out in 2026. None of them are particularly complicated, but they are the details that interviewers tend to remember.
Phone interviews are often short, sometimes just ten to fifteen minutes, which means every second counts. These calls are typically designed to answer a simple question: should this candidate move forward to the next stage?
Yet, I’ve seen candidates start with five or ten seconds of silence when the recruiter calls.
That long pause can set a negative tone before the conversation even begins. A simple, confident greeting makes a world of difference. Something as straightforward as “Hi, thanks for calling – it’s great to speak with you” immediately signals professionalism and enthusiasm.
From there, keep your answers concise. Two minutes per response is plenty; if I want more detail, I’ll ask. Many candidates assume longer answers show knowledge, but in reality, clarity and structure are far more impressive.
Above all, sound natural. Treat the interviewer as you would a fellow student you haven’t met before: polite, professional, but not overly formal. The goal is to sound confident and conversational, not rehearsed.
Video interviews bring their own challenges. One common mistake is staring directly into the laptop camera, which can feel unnatural and even off-putting. It often creates an overly intense interaction and can make candidates appear stiff.
Another is cluttering the screen with notes or reading from them during the call. If you need prompts, keep them minimal – one or two bullet points at most. A few short reminders can be helpful, but full paragraphs almost always become distracting.
And please, don’t rely on AI chatbots during the interview. It’s becoming more common, and recruiters can understand this almost immediately. Responses that appear instantly, perfectly structured and slightly robotic tend to raise suspicion.
If you don’t know an answer, admit it honestly rather than reading from your screen. In fact, not knowing an answer can spur an interesting conversation topic. Some of the most engaging discussions I’ve had in interviews have started with a candidate saying, “I’m not entirely sure, but here’s how I would think about it.”
If a candidate were to then refer to a topic that we discussed earlier in the interview, it shows they were engaged in learning from the interviewer, which creates such a positive impression. It demonstrates curiosity, active listening and the ability to think in real time.
Finally, avoid language that feels forced. Words like “furthermore”, “intersection” or “moreover” rarely sound authentic in conversation. Clear and straightforward language is always more effective.
I am not an anti-AI recruiter; I just want to see it being used better for interview preparation. If you’re using AI to prepare, and I recommend that you do, use it wisely.
Don’t just copy bullet points. Instead, ask AI to point you toward articles or resources that deepen your knowledge. For example, if you’re preparing to discuss a recent deal, ask AI to recommend news coverage or analysis that explains why the transaction matters.
Learn from those sources so you can speak confidently and add your own insight. AI should be a research tool, not a script. The strongest candidates use it to accelerate their learning, not to replace their thinking.
The biggest takeaway from last year? Depth matters.
Many candidates hear feedback like “your answers lacked detail” without understanding what that means – it’s not about length, it’s about substance. When you describe a deal or a project, don’t just explain what happened; share your perspective.
What stood out? What challenges did you notice? How would you evaluate what happened here? Was it expected? Would you have approached anything differently?
That’s what shows understanding. Interviewers aren’t only testing what you know – they’re also trying to see what you don’t know and how you think.
As 2026 unfolds, I’d love to share more thoughts. For now, my advice is to focus on clarity, confidence, and depth. Those three qualities consistently separate strong candidates from the rest.
These small changes can make a big difference. And often, they are the difference between progressing to the next round and being remembered as “almost there.”
