Advice for incoming SA at MM HF
Hi everyone, i’m incoming at a mm this summer. Have been working on the modeling aspect. But looking for advice on anything I should work on or just general tips for the summer. Hoping to learn a ton while also not having to not nag about stuff that might not be important. Appreciate any advice
Bump
If p72/CAP: Practise modelling different types of revenues and cost structures (try to use EBIT/gross margin bridges provided by the companies) the academy part of the internship will be evaluating how you think about businesses generating revenues and how that translates into profit (so cost structures)
The other bit is rotations, and realistically the best thing you can do here is a) learn to code or b) become an excel wiz so you can manipulate data and build trackers easily. You’ll be doing odd jobs for your PM/team on this point.
Everything else still applies, you’re given harder/more work than your sellside SA friends but a lot of the same attributes are being evaluated, show up on time, positive attitude, take notes, be proactive etc.
Try to build authentic connections, MM’s can be isolating at times…I personally went the extra mile to help an intern I liked that didn’t get a return get a placement at another MM so it can go a long way
If nepo PM hire:
be as good as an analyst coming out of IB/ER and you might get a return lol
adding on a little here: your rotation matters like 70% of it. Don't fuck it up. Literally half of it is being a person being easy to talk to. Attitude is the other of half the battle, just show you want to learn and go above and beyond to help, do whatever you can. Grab coffee with everyone on the team. If you have a NY based team but PM sits in Connecticut hop on the train one day. Figure out how your PM/analyst you're under communicates and do that. Your goal is to walk out with them saying they liked you and would want you on their team.
While you should try to be the first one in and last one out, this isn't banking your sleep matters a lot. I tried for a minimum of 6 1/2 hours every night and usually would just leave the office at 10/11pm as working had diminishing returns at that point. Hopping on calls and joining things if your team lets you is also a great way to show you're interested.
The summer is extremely stressful but looking back I had a great time and got to work with tons of really smart people. Good luck.
What kind of work were you doing during your rotation?
Did you ever feel like you weren’t/couldn’t make detailed / revenue builds or on the flip side you were trying to be to detailed and getting unrealistic projections?
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