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Goldman Sachs Investment Banking Interview Questions

Looking for Goldman Sachs interview questions? Start with 5 firm-labeled workbook prompts. Three worked examples are below. No signup.

Recorded roundTechnical topicsWorked answers
See the worked examplesFree Goldman Sachs Excel / 5 in the sample

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Goldman Sachs round labels: what is actually in the bank?

The full workbook has 53 Superday prompts, 6 HireVue prompts and 15 with no recorded round. I would use those labels to choose practice, not predict the next interview.

HireVue

Six prompts carry this label in the full bank. This free drill does not include them. Pick a HireVue-labeled prompt from your copy and answer in your own words.

No recorded First Round set

No prompt in this bank is labeled First Round. The 15 Unspecified prompts stay unknown. You can use technical practice for an early interview, but that does not change the source round.

Superday

53 prompts carry this label. Four of the five questions on this page are from that set. I would answer them out loud, then repeat the weakest one.

Three worked answers

See how the answer gets built

Read the setup, work the steps, then say the answer cleanly.

01
SuperdayAccounting

Three-statement walk

Interest expense is 10% on $100 of debt, and the tax rate is 40%. Walk through the three statements.

Say your answer first. Then reveal the steps and check the assumptions.

Reveal the worked answer

Assume the $10 interest is paid in cash, there are enough taxable profits to use the tax shield now, and there are no other changes.

Income statement

$10 of interest expense lowers pre-tax income by $10. At a 40% tax rate, taxes fall by $4, so net income falls by $6.

Cash flow statement

Start with net income down $6. Interest was paid in cash, so there is no add-back. Cash falls by $6.

Balance sheet

Cash falls by $6 on the asset side and retained earnings falls by $6 on the equity side. The balance sheet balances under those assumptions.

Interview check: $10 × (1 - 40%) = $6 after tax.

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02
SuperdayValuation & Multiples

Read growth from forward multiples

Company A trades at 20x EV/Revenue with a forward EV/Revenue of 20x; Company B trades at 20x with a forward multiple of 10x. Which company is growing faster and what is each growth rate?

Say your answer first. Then reveal the steps and check the assumptions.

Reveal the worked answer

Hold each company’s EV constant and assume its current and forward multiples use consecutive-year revenue.

EV / Revenue20.0x → 20.0xRevenue is flat: 0% growth
EV / Revenue20.0x → 10.0xRevenue doubles: 100% growth

Conclusion: Under that fixed-EV assumption, Company B’s revenue doubles while Company A’s stays flat. Without the EV assumption, the multiples alone cannot tell you the growth rates.

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03
SuperdayDebt & Leveraged Finance

Calculate pro forma leverage

Net debt of $500M and EBITDA of $250M - what is the net leverage ratio? A acquires B at 3x EV/EBITDA; B has $50M EBITDA - what is pro forma net leverage?

Say your answer first. Then reveal the steps and check the assumptions.

Reveal the worked answer

Start with net debt divided by EBITDA, then state the financing assumption.

Current$500M / $250M2.00x
Debt-funded purchase($500M + $150M) / ($250M + $50M)2.17x
Stock-funded purchase$500M / $300M1.67x

Assumptions: B is bought at 3.0x on $50M of EBITDA, has no existing net debt, and the debt case uses debt or cash that increases pro forma net debt by $150M.

More questions

Two more prompts stay closed until you commit to an answer. Round labels come from the workbook source, not a fixed interview script.

SuperdayDCF & WACC

1. EBITDA to UFCF.

Check the worked answer

UFCF = EBITDA - cash taxes on EBIT - capex - increase in operating NWC. This is the standard interview bridge: EBIT = EBITDA - D&A, and EBIT × (1 - tax rate) + D&A gets you back to EBITDA less taxes on EBIT. Do not subtract interest in unlevered free cash flow.

UnspecifiedAccounting

2. Accounts receivable goes up by $2 - walk through the 3 statements (40% tax).

Check the worked answer

Assume the $2 increase comes from new revenue earned on credit, with no extra expense and a 40% cash tax paid now. Revenue rises $2, taxes rise $0.80 and net income rises $1.20. Start CFO with +$1.20 and subtract the $2 increase in AR: cash falls $0.80. On the balance sheet, AR +$2 and cash -$0.80 match retained earnings +$1.20. An AR increase alone does not tell you the income-statement effect; ask what caused it.

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The full workbook

The paid Goldman Sachs workbook is $29.99 and has 74 source prompts: 53 worked answers, 17 practice frameworks and 4 dated research/checklists. Filter by recorded round and topic, then keep your copy.

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