A multilayer capacitor, includes: a body including a dielectric layer and first and second internal electrode, and a first external electrode and a second external electrode, each disposed an exterior of the body, the first external electrode being connected to the first internal electrode and the second external electrode being connected to the second internal electrode, wherein the first external electrode and the second external electrode include an electrode layer disposed on the body, and including a first intermetallic compound and glass; and a conductive resin layer disposed on the electrode layer, and including a plurality of metal particles and a resin.