IEG Investment Banking interview questions

the first interview was oral with a presentation of the company and questions about my previous internships, then we had some logical questions and a quick balance sheet analysis. The second interview is a case study.

First interview was a short chat, why do you want to join this firm and some brain teasers. It was the second interview that was the waste of time. A 'case study' that was more like a homework or self study session. Asked us to come down for 9 hours, I even took a day off for this. No presentations of any kind. Just a financial modelling test and a powerpoint. Best of all, we were told after the 9 hours that our starting pay would be $490 per month and increase gradually over a year until we reach $1000+ per month. Utter waste of time.