If you've landed a finance interview , whether it's for a work experience placement, a vacation internship, or a graduate role first things first: well done. Getting to the interview stage is genuinely competitive, and you've already done something right.
Now the nerves set in. What will they actually ask you? Do you need to know what the ASX did last week? Will they quiz you on discounted cash flow models?
The honest answer is: it depends on the role and the firm. But for most student and early-career interviews in finance, the questions are far more manageable than you think if you know what to prepare.
This guide breaks down exactly what to expect, with real example questions and tips on how to answer them.
The different types of finance interviews
Before you prepare, it helps to know what format you're walking into.
Phone or video screening is usually the first round. It's short — 20 to 30 minutes and is designed to check whether you're articulate, genuinely interested, and not a liability. Expect motivational questions and a couple of soft competency questions.
Structured panel or one-on-one interviews are more common for vacation internship and graduate programs at larger firms. These follow a set format, often with a mix of competency, commercial awareness, and motivation questions. Some firms score your answers against a rubric, so they're consistent across candidates.
Casual or informal chats are common for high school work experience and smaller firms. Don't be fooled by the relaxed tone — they're still evaluating you. Prepare the same way.
The five types of questions you'll face
1. Motivational questions
These are the most common and the ones most students underprepare for. Interviewers want to understand why you want to work in finance and why you want to work at their firm specifically.
Common examples:
Why do you want to work in finance?
Why are you interested in this firm specifically?
What made you apply for this role?
Where do you see yourself in five years?
How to answer them well:
Be specific. "I've always been interested in finance" tells them nothing. What got you interested? was it a subject at school, a family member's career, a news story about markets, a book you read? Ground your answer in something real.
For "why this firm," do your homework. Look at their recent deals, their graduate program structure, or something specific about their culture or focus areas. Generic answers are easy to spot.
For high school students applying for work experience, it's completely fine to say you're exploring whether finance is the right path for you. Curiosity is a valid and honest answer.
2. Competency and behavioural questions
These are the "tell me about a time when..." questions. Firms use them to predict how you'll behave on the job based on how you've behaved in the past.
They sound intimidating, but for students, "experience" doesn't mean work experience. It means school projects, sport, part-time jobs, volunteer work, family responsibilities — anything where you've demonstrated a relevant skill.
Common examples:
Tell me about a time you worked effectively in a team.
Describe a situation where you had to manage competing priorities.
Give me an example of a time you showed initiative.
Tell me about a time something didn't go to plan. What did you do?
Describe a time you had to persuade someone to your point of view.
How to answer them: use the STAR method
Structure your answers using STAR — Situation, Task, Action, Result.
Situation: Set the scene briefly. What was the context?
Task: What was your specific role or responsibility?
Action: What did you do? (Focus on your actions, not the team's.)
Result: What happened? Quantify it if you can. What did you learn?
Keep answers to two to three minutes. Practise saying them out loud — not reading them from notes, but speaking them naturally. The structure should be in your head, not on the page.
3. Commercial awareness questions
These test whether you're paying attention to the world beyond your campus. Firms in finance want people who are genuinely interested in markets, business, and the economy — not just people who've memorised interview prep material.
You don't need to be an expert. You need to be curious and informed.
Common examples:
What's happening in the economy at the moment that interests you?
Tell me about a recent news story that caught your attention.
What do you think are the biggest risks facing the financial sector right now?
If you had $10,000 to invest today, what would you do with it and why?
How to prepare:
Read something financial every week in the lead-up to your interview. The AFR, the Financial Times, or even a good finance newsletter. Pick one or two topics you genuinely find interesting and can talk about confidently — not a list of facts you've memorised.
For the investment question, you're not expected to give a professional portfolio allocation. They want to see how you think — whether you can articulate a view, explain your reasoning, and acknowledge risks.
4. Technical questions
For high school and most early-stage university interviews, heavy technical questions are rare. But for vacation internship and graduate roles at investment banks, asset managers, or professional services firms, you may get some basics.
What's fair game for students:
What is a P/E ratio and what does it tell you?
Can you explain what a balance sheet, income statement, and cash flow statement are?
What is compound interest?
What does diversification mean in an investment context?
What's the difference between equity and debt?
What's not expected: Complex valuation models, advanced derivatives, or detailed regulatory knowledge. If you're asked something you don't know, it's better to say "I haven't studied that yet, but here's how I'd think about it" than to bluff.
5. Questions about you
These are lighter but easy to fumble if you haven't thought about them.
Common examples:
Tell me about yourself.
What are your strengths?
What's a weakness you're working on?
What do you do outside of study?
What's the last book you read?
Tell me about yourself is not an invitation to recite your resume. Give a two-minute summary of who you are, what you're studying or doing, what drives you, and why you're here. Think of it as your opening pitch.
For weaknesses, be honest but strategic. Pick a genuine area for improvement and talk about what you're doing about it. "I used to struggle with public speaking, so I joined my school's debating team" is far better than "I work too hard."
Questions to ask your interviewer
Most interviews end with "do you have any questions for us?" — and saying no is a missed opportunity.
Good questions to ask:
What does a typical day or week look like in this role?
What's the most valuable thing you've learned in your time at the firm?
What does the firm look for in candidates who go on to succeed here?
What opportunities are there to rotate across different teams or areas?
What would you say is the culture of the team?
Avoid asking about salary in a first interview, or anything you could have found on their website in ten minutes.
A few practical things
What to wear: Business professional or business casual, depending on the firm. If in doubt, overdress slightly. For high school work experience interviews, neat and tidy is always appropriate — you don't need a suit.
Arrive early: Ten to fifteen minutes early. Not more. Rushing in late is disqualifying; arriving forty-five minutes early creates awkwardness for everyone.
After the interview: Send a brief thank-you email within 24 hours. It doesn't need to be long — two or three sentences acknowledging the conversation and reiterating your interest is enough. Very few candidates do this. It stands out.
The most important thing
Finance firms at the student level are not looking for people who already know everything. They're looking for people who are curious, coachable, self-aware, and genuinely interested in the industry.
Prepare your answers, do your research, and show up as yourself. That's what gets you the placement.