PJT Partners Interview Questions
The most common technical, behavioral, and fit questions asked in PJT Partners investment banking interviews. Based on real interview experiences from successful candidates.
Last updated April 2026 · By the Superday AI editorial team
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Technical Questions
- Walk me through the restructuring of a company with a complex capital structure: senior secured debt, mezzanine, unsecured bonds, and equity. How do you determine the recovery waterfall?
- A company is in financial distress with $400M in debt and $40M EBITDA. Walk me through whether you would advise an in-court or out-of-court restructuring and the key factors driving that decision.
- Explain the difference between a Section 363 asset sale and a plan of reorganization in Chapter 11. When would you recommend each approach?
- Walk me through how you would value a company emerging from bankruptcy. What adjustments do you make to a standard valuation framework?
- A client is considering a strategic M&A transaction financed with 60% debt. Walk me through the credit analysis you would perform and how you would stress-test the capital structure.
Behavioral Questions
- PJT Partners was founded by Paul Taubman with a specific vision. What do you know about that vision, and why does it align with your career goals?
- Describe a time you had to learn a complex subject from scratch under time pressure. How did you approach the learning curve?
- PJT's analyst classes are intentionally small. How do you perform in environments where your individual contribution is highly visible?
- Tell me about a time you had to work through ambiguity and uncertainty to reach a conclusion. What was your process?
- Why PJT over Lazard for restructuring, or over Evercore for M&A? What specifically about our platform differentiates us?
Fit Questions
- Where do you see yourself in five years?
- Tell me about a time you worked on a team.
- Describe a time you failed.
- How do you handle pressure?
- What questions do you have for me?
Tips for PJT Partners Interviews
- PJT's restructuring practice (Park Hill + legacy PJT) is its crown jewel. Prepare for detailed restructuring questions: recovery analysis, DIP financing, creditor negotiations, and the Chapter 11 process. This is tested more rigorously here than at any bank except Lazard.
- Paul Taubman's founding vision emphasizes senior banker involvement and a client-first advisory model. Understanding this philosophy and articulating why it resonates will distinguish you from candidates who only know PJT by reputation.
- PJT's small analyst classes (20-30 per year) mean interviewers are highly selective about cultural fit. Demonstrate that you thrive in environments with high visibility and direct senior engagement.
- The firm has both an M&A advisory practice and a restructuring practice. Show awareness of both and articulate which area interests you more, while demonstrating respect for the other.
- PJT interviewers value intellectual precision and clarity. Practice delivering structured, concise answers to complex questions. Rambling will cost you.