The Wall Street Oasis Investment Banking Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the investment banking industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews pl...
|0||4 months 2 weeks ago|
With Deutsche Bank's shares sinking to an all time low due to the penalty it incurred from the US DOJ, many are speculating whether the German Government will bail the large giant out. It's "unimaginable" that the German state would support Deutsche Bank with taxpayer money because there would be ...
|11||1 min 24 sec ago|
Click here for the 2017 FT IB Analyst Recruiting Megathread discussion page. APPLICATIONS / INTERVIEWS / SUPERDAYS Goldman Sachs Morgan Stanley J.P. Morgan Bank of America ML Citigroup Barclays Credit Suisse Deutsche Bank UBS Wells Fargo Applications open: Lazard Lazard Middle Market Jefferies Cen...
|343||3 min 23 sec ago|
Hi, Anybody know about the interview process for this boutique investment banking shop? They've worked on deals like Sprint - Softbank and the Dodgers and are digital media/sports focused. I have a phone interview this coming week and was wondering if anyone has gone through the interview process wi...
|29||16 min 34 sec ago|
Hi folks, Has anyone heard back from Stephens for their superday invites? I was told they'll be sending it out this week, but haven't heard anything yet. ...
|18||17 min ago|
is FCFF just another word for unlevered fcf? and is FCFE just another word for levered fcf? thank you ...
|0||26 min 37 sec ago|
For 3 Statement Models, where quarters are used, how do you usually organize the financial statements? Q1|Q2|Q3|Q4|Annual|Q1|Q2|Q3|Q4|Annual or Q1|Q2|Q3|Q4|Q1|Q2|Q3|Q4| |Annual|Annual| Do you need to link the statements twice, once for quarters and once for annuals? Or do you just link the quarters...
|3||35 min 42 sec ago|
http://www.investopedia.com/news/shareholders-appr... The Anheuser-Busch InBev (BUD) acquisition of brewing giant SABMiller was approved today by shareholders of both companies. Earlier this morning at a meeting in Brussels, AB InBev shareholders gave the deal the green light, which followed a meet...
|0||35 min 55 sec ago|
I'm asking in the context of finding change of NOWC for the calculating of free cash flows (for DCF purposes). For the above context, I understand that NOWC = non-cash current assets - non-interest-bearing current liabilities. My question is this: Is interest payables considered to be non-interest b...
|6||37 min 40 sec ago|
Hi everyone, Thanks in advance for reading my post. I searched for the topic online but couldn't find discussions relevant to my questions. I wanted to know if it would be possible for me to do an internship after my junior year in MBB and land a FT BB Analyst position if I decide to go the banking ...
|6||1 hour 4 min ago|
I wonder if I can drop the names of some one I had a talk during the info session, which I did not ask a referral from them. Does name drops equal to the referral? One of my friend said you have to ask for consent before put his/her name on the cover letter. Again thank you for your answers. ...
|5||1 hour 29 min ago|
I have a First Round coming up in next week with PJT's restructuring and special situations team and have little to no knowledge on the restructuring industry. Anyone have any useful advice on how I can prepare for this? I'm looking to study anything and everything you guys throw my way. Thanks guys...
|23||3 hours 34 min ago|
When does FT IB Analyst recruiting typically start? I am a recent graduate (May 2017), and am wondering when banks will start taking resumes/interviewing online, or via other methods. Thanks guys! ...
|437||3 hours 35 min ago|
Is it true you need to know how to speak french if your working at Soc Gen? That what I have been told, not sure if its true or not. ...
|6||3 hours 46 min ago|
Has anyone seen a move as described above or think its plausible? Currently, doing alot of post-merger work within the CFO organization but would like to become more involved in the front end of the transactions. I miss being in the numbers of a company and feel like my technicals are starting to du...
|3||4 hours 27 min ago|
So I come from a non-target liberal arts, but have a relatively strong GPA (above 3.5) and secured an internship this summer at a boutique, of only about 20 people but who engage in large deals and a handful of multibillion dollar deals. They do not hire out of undergrad and I knew that going in, bu...
|3||5 hours 56 min ago|
Hello, I've been on the prowl for investment banking lateral analyst opportunities since the start of this summer, but the opportunities at the BB/EB/top-tier MM level have been very few and far in between. Would really appreciate any input that other investment bankers can share, either on a macro-...
|4||6 hours 50 min ago|
Hey everyone! I just finished a first round interview with GS through hirevue, does anyone know how long it takes to hear back? It's hard to tell how I did but will GS still send an email about next steps even if you weren't selected to move on. Thanks! ...
|29||7 hours 35 min ago|
Hi, I just wanted to start a thread for JPMs Launching Leaders program. Does anyone know when we will hear back? I interviewed for IB and Public Finance a couple days ago ...
|13||10 hours 59 min ago|
Hey guys, Can't seem to find too much information about this. Can anyone group together, in terms of deal-flow/"preftige"/exit-opps some of the other tech groups in SF/Bay Area? I think most people agree that GS TMT/MS/Qatalyst are the top shops, but how would JPM, CS, Citi, Barclays, BAML, UBS, DB,...
|4||11 hours 52 min ago|
See below: In the latest sign, Goldman plans to lay off about 75 of the 300 bankers it employs in Asia, according to people familiar with the matter. The cuts will be concentrated in Hong Kong among junior staffers and won't include Goldman's operations in Japan or Australia, the people said. Chine...
|1||12 hours 5 min ago|
Hey everyone, I had a phone interview about 2-3 weeks ago with a well-known bank. I really connected with the interviewer on a personal level and got all the technical questions correct. After the interview was over, my interviewer said that they would reach back out to me very soon with the next st...
|2||12 hours 41 min ago|
Hey guys! I recently got a full-time offer with BlackArch Partners in Charlotte, NC. I've not seen too many posts about them here and was wondering if anyone had any information regarding exit opps (they have a 2-year analyst program) or thoughts on starting a career out of undergrad in Charlotte ra...
|2||14 hours 35 min ago|
Hello WSO, I am planning on applying for the top 1-25 MBA programs. Also, I am in process of studying for my GMAT and will likely take it next year. My career goals are either to go into corp finance for a bio-tech firm, but my second interest is in Investment Banking. Of course, during the MBA int...
|5||15 hours 46 min ago|
9:30 am - Arrive to work and head straight to the break room in order to pick up a couple breakfast burritos and an OJ. Hang up my suit jacket and proceed to fist-bump my favorite analysts 10:00 am - Check my email, listen to endless voicemails, and log-on Bloomberg Terminal to check the news and pe...
|30||21 hours 4 min ago|
My gpa isn't the greatest (3.23) and I don't attend a target school but I'm still interested in getting into investment banking. What are some of the banks in NYC that have a lower standard to get into? ...
|37||23 hours 43 min ago|
Hi everybody, I wanted to get everyone's thoughts on this. I currently am working in lev fin but in the back of my mind am thinking about the future and raising kids near the rest of my family. The population is around ~200k. Plenty of solid companies but I don't think working for a corporation's...
|32||23 hours 46 min ago|
Can anyone provide insight into ING's structured finance analyst program (culture/pay/exit opps)? Also, how are interviews like? Is it mostly fit/behavioral or finance/valuation based? Thanks in advance!! ...
|3||1 day 30 min ago|
How are the industry and product groups organized in Credit Suisse? Which is the biggest or most important one? ...
|0||1 day 36 min ago|
HSBC is recruiting at my school for their Global Banking Customer Relationship Management program. I tried to dig a bit into what the job is but it's still pretty ambiguous. Has anyone ever worked in that sector and would like to give some insights? Would be truly appreciated. ...
|4||1 day 1 hour ago|
Hey guys, Please forgive me if there is already another discussion on this subject that has answered my questions but just out of curiosity, how does the Wells Fargo debacle affect the banking industry at large? Sure the actual financial hit Wells will take will probably be small and not be 2008 cr...
|1||1 day 2 hours ago|
I'm a senior in industrial engineering at a state college. I have worked for two f500 companies so far. One of which I am currently co-oping in the process improvement group. The one prior to that, was in a corporate finance group (procurement). I have participated in extracurricular activities (RA ...
|2||1 day 2 hours ago|
Anyone here has received the interview invitation for the JPM Asia Jumpstart Event in NYC? Some of my friends have received the interview, but I haven't. Anyone knows that whether they will send out more invitations? ...
|6||1 day 3 hours ago|
Does anyone know what groups within GS still have full time slots open? I don't want to apply for groups where there are no spots. Thanks. ...
|0||1 day 4 hours ago|
Chimps, after working with all of our first years at our firm on several deals, I've found that I'm frequently getting asked for tips and tricks that I wish I had known as a new analyst. Now, that being said, this may or may not be helpful to share with the forum, but either way, I've listed out som...
|32||1 day 4 hours ago|
Hi everyone, I am currently valuing private companies and hence have very little information. How would one go about estimating net debt of the company? By very little information, I mean I do not have access to their financial statements. All I have is a summary of ebitda, revenue, profit after tax...
|15||1 day 6 hours ago|
Does anyone have experience with this / a template model? I'm having difficulty understanding how to make reasonable projections about drugs that are in Phase II or III and have some probability of entering the market in the next 2 years. ...
|12||1 day 7 hours ago|
I see a lot of high school/college kids providing advice and "insight" into how firms place, how people should think about exit opps, what groups are best, etc. This has resulted in a lot of really stupid commentary on this forum, and I hope to remedy this. A few points: 1. Your group doesn't really...
|23||1 day 11 hours ago|
Hi guys, I have a phone interview with Gleacher Shacklock and all they say is "No formal preparation is required, however some knowledge of the company and the position you are applying for is expected." What do they mean behind this? Should I expect also technicals or market questions? Thx ...
|8||1 day 12 hours ago|
Would anyone with experience reviewing resumes for summer analyst spots be willing to help look over my resume? Current junior at a top target (HW) going for IBD SA. Please direct message me. Thanks! ...
|0||1 day 15 hours ago|
Which is more preferable: starting as corporate banking associate at (JP, BAML, WF) or IBD analyst at BB? In this scenario the corporate and investment bank are intertwined. Possible considerations: -compensation -career -exit ops Please debate. Thank you for your feedback. ...
|12||1 day 17 hours ago|
I know this has been discussed before. BX, LAZ and HL lead the pack. Lately, there has been some senior banker musical chairs in the restructuring space and I was wondering how people would rank the tier 2/3 Rx practices at banks. Rothschild, Jefferies, Greenhill, Evercore, Millstein, Miller Buckfi...
|33||1 day 18 hours ago|
How would I know I have the mathematical ability for a career in banking, particularly the math ability for a master's degree in finance?... ...
|2||1 day 19 hours ago|
Anyone know anything about Parks Paton Hoepfl Brown and their culture, deal flow, etc? They are in Houston and work in the energy space, but that's I know. Thanks ...
|10||1 day 20 hours ago|
Hey guys, I'll be starting at the M&A department at EY on october as a first year analyst. Does anyone have any experience with M&A at a big 4? I would like some input in terms of what I should expect. What the work is like, what I should be studying to adapt better, should I implement new ...
|4||1 day 20 hours ago|
Is there any reason to choose a BB such as GS/MS/JPM over an EB such as PJT/Evercore/Lazard for M&A? Seems that the EBs pay more, staff more leanly, offer the same (if not better) exit opps, etc. Why would someone choose GS/MS/JPM? ...
|2||1 day 20 hours ago|
I am about to have a first round interview with Raymond James, but mostly interested in the New York groups. Can anyone shed light on the groups available in New York for an Investment Banking Analyst? Also if anyone knows what the interviews are like, that would be helpful as well! ...
|3||1 day 20 hours ago|
All, I've been a long time lurker and recently decided to create an account. I'm an international student that summered at Jefferies / HL / UBS, and accepted a return offer to start next July. However, I am getting worried. It seems that a Trump presidency is becoming more and more likely. I don't c...
|1||1 day 21 hours ago|
In browsing this forum, I've come across some misinformation (or none at all) about Allen & Company. The firm has historically been shrouded in secrecy...until today. Hopefully, I can shed some light on this super-secretive firm. All information was gathered through online resources and discussi...
Herbert Allen III
|30||1 day 21 hours ago|
I have a first round interview coming up with both Citi and JPM for Corporate Banking analyst and would like to know more about this division. From what I learnt, this is more of a relationship management role but also perform credit analysis. I tried looking up more info online but couldnt find any...
|0||1 day 22 hours ago|
Anyone have thoughts on LionTree Advisors? ...
|10||1 day 23 hours ago|
Hi all, This topic has been discussed in the past, albeit on an old thread from 2009 (what I could find) and only covered stocks on exchanges. I wanted to get the opinion of the current full time personnel in the Investment Banking and related fields, on whether similar rules (preclearing trades, 30...
|8||2 days 21 min ago|
As the title suggests: if a company is acquired what happens to the employees? Are they all made redundant and only they executives remain? Do they have to re-interview / find a position in the new company? Does it just depend on the strategy set by the new company? I am asking as I was reading up ...
|2||2 days 1 hour ago|
Hi, I was planning to shift out of Corporate Banking (currently an Associate) and move into Investment Banking but I've been reading about these job cuts in all the IBD divisions of top banks and wondering if it is the right career anymore. I'd be grateful for any valuable insights. ...
|3||2 days 3 hours ago|
I reached out to a recruiter at Morgan Stanley late in August about the 2017 Global Capital Markets (GCM) recruiting process. She said that she would be scheduling a first round interview with me in mid-September. However, I emailed her today and she told me that I would be having an interview in th...
|1||2 days 3 hours ago|
Just days after the 8 year anniversary of the collapse of Lehman Brothers, news has surfaced of a massive fine (much bigger than expected) coming for Deutsche: Today's news that the U.S. Justice Department (DOJ) wants to slap a $14bn (EU12.5bn) fine on Deutsche for mis-selling mortgaged backed secu...
|22||2 days 7 hours ago|
A lot of us will be wrapping up our SA stints in the next couple of weeks, and if you are like me, you're thinking about return offers. I know each bank is different, but overall, what percentage of SAs will be getting return offers this summer? It will almost certainly not be higher than normal, bu...
|87||2 days 7 hours ago|
I'm a first year analyst at a EB/BB. The issue is that I'm in a coverage group for an industry that I absolutely despise. Hours are a bit on the rougher side, but the main thing is that I have no interest in the space at all. Thinking seriously about lateraling and was wondering how early I can star...
|1||2 days 10 hours ago|
I have worked on an accretion and dilution model before therefore i definitely expect to be asked about this. So could you guys please help me with any type of accretion dilution questions that you guys have come across before. That would be extremely helpful for me to prepare for my interview. I re...
|167||2 days 13 hours ago|
So, apparently I haven't been on this site in while, and it'd be a shame to make a return to just complain, but I've emptied the beers from the minibar and it's still way too early to sleep, my body now evading anything approaching a circadian rhythm. Instead of sleeping, thought I'd throw in some ...
|126||2 days 14 hours ago|
Seems as though HSBC is a ghosttown on this forum since I have yet to see a thread about them in months. Are they really that bad or is it because they are an internationally focused bank? ...
|15||2 days 15 hours ago|
Coming from a non-target (maybe a semi-semi-semi target), and have my first weekend trip coming up at the end of September. I know recruiting has been moved up quite drastically, but a contact mentioned that he thinks a decent amount of the banks that were in my top-10 have *already* picked their en...
|16||2 days 16 hours ago|
Anyone else have a first round today? Just wanted to create a thread for everyone that's going through the process ...
|3||2 days 19 hours ago|
Hello everyone I found an ib analyst position in a large mm bank. Prior to applying online, I emailed several senior bankers in the firm and tried to get interview opportunity without online application. The head of the department replied to my email within 10 munites and had his secretary arrange a...
|0||2 days 19 hours ago|
if you work for JP Morgan, JP Asset Management, or if you work for the retail arm JPM Chase.. do you technically work for JPM Chase & Co? Was just wondering what you should put on your CV if you did an internship in IBD there? ...
|0||2 days 22 hours ago|
Correct me if I'm wrong when I say product groups are focused on one deal type among various industries while industry groups are focused on multiple deal types within a single industry. I was doing some reading when someone said: In general, guys in industry groups tend to progress higher than pro...
|3||3 days 56 min ago|
Is this FO or BO? It is listed under Corporate and Investment Bank on the jobs search page, but it sounds more like a supporting function role. You help clients manage cash, currency, and supply chains. That still sounds very vague to me. Could anyone tell me more about the role, like the responsibi...
|0||3 days 2 hours ago|
Hey, I'm interviewing with Centerview soon, and I'm wondering if anyone has worked there/knows anyone who has? I'm just interested to know about the culture from an insider's perspective, and don't know anyone there. Would be really informative to learn anything that is unique to Centerview, apart...
|0||3 days 4 hours ago|
Unser Serviceteam in Wien, das sich in die Bereiche Vertrag und Schaden aufteilt, kummert sich gemeinsam mit unseren Kundenbetreuern um die bestmogliche Beratung und Betreuung unserer Kunden. Als fachliche Profis im Innendienst stehen die Kollegen mit Rat und Tat zur Seite, wenn es darum geht, die b...
|1||3 days 4 hours ago|
Is your firm/group a 'bro's club'? How much do you think the settlement was for? Bank of America Corp (BAC.N) has settled a lawsuit by a former top female banker who had accused it of being a "bro's club" that favored male employees over women, and punishing her because she complained about questio...
|0||6 days 4 hours ago|
Talk around FT is that Apple is looking to acquire McLaren Technology Group. What do you guys think on this potential acquisition? Final purchase price? And will this be Apple's big new wave? ...
|13||3 days 11 hours ago|
Hey guys! Did anybody pass BNPP's online tests ? If yes, what is the minimum score required ? Because I find them quit long, 12 minutes for 34 questions (maths) and 12m for 49 questions (verbal). I don't know what about you, but I did not have enough time to finish both tests... Even if you have t...
|0||3 days 12 hours ago|
Sup peeps. So I got into PSU and UW Madison and don't know who to go with. My main focus is on who will give me the best chance at landing a FT FO M&A IB position, and both have pretty strong programs that have helped other students do so. For the unaware: PSU Nittany Lion Fund placement- http:/...
|24||3 days 14 hours ago|
I was wondering if anyone knows of any deals Nomura have advised on - have my interview in a few days. The main one I can find is the dragon oil deal, however I wanted to have a couple more just incase. ...
|4||3 days 16 hours ago|
Why seeing illegal activity only made me feel rich and how sudden wealth and good fortune fail through my fathers ceiling only with the hope to find my views an vows which only made me try to tried truth seeking under the word of how god could and would entrust into my life without justifying my be...
|2||3 days 16 hours ago|
As the title says. If you check out the Credit Suisse Holt Valuation Challenge you have a chance to win an IB internship. Pretty cool huh? You need 0 background in finance, and good presentation skills. Read more about it here: http://www.holtvaluationchallenge.com/ ...
|0||3 days 16 hours ago|
Mod Note (Andy) - We're reposting the top discussions from 2015, this one ranks #13 and was originally posted 2/22/2015. I'm a long time reader and first time poster. I've seen a lot on the forum regarding STRH and I wanted to write a full review of the firm. I think the mini reviews in the Firms se...
|68||4 days 2 hours ago|
I am about 2 years into my role in CRE banking, and I was interested in crossing over to traditional IB. I really love my role, but I was thinking about fixed income as a primary target, and getting out of SF and to NYC. I wanted to take a break and go back to school for an MBA, as well as increase ...
|0||4 days 2 hours ago|
Yesterday I had a networking call with an analyst. As this was my first networking call, I am not really sure how well I connected as I have no other calls to compare it to. However, it went for around 30 minutes, and she gladly connected me to someone else on the team. After the thank you letter...
|2||4 days 14 hours ago|
Im curious to know if anyone has heard back about this dinner, The JPM recruiter I had spoke to seemed to like my resume and assured me I would hear back, I still have two weeks until the event Any and all info would be appreciated! ...
|1||4 days 17 hours ago|
Hi, I have a telephone interview for a summer internship at UBS in the CCS division (IBD) for the London Office. I would really appreciate it if anyone that has previously had the same type of interview can provide tips/questions asked. Any other general tips would also be great! Thanks ...
|1||4 days 18 hours ago|
I've agreed to a request to meet a class of 2016 MBA grad in the next few weeks for an informational interview. Does WSO have any advice for how I should prepare? What should I wear? ...
|0||4 days 22 hours ago|
|0||4 days 23 hours ago|
Even the average banker from an Ivy league makes less than a a majority of doctors. OK now lets get to business. ALL you finance/banker propenents say bankers can earn the most, 100x etc etc. Those are the .0000000001% of people. There are doctors that can make that much, although its much lower bec...
|32||5 days 1 hour ago|
|11||5 days 2 hours ago|
Hey guys, I've got a super day with JPM tomorrow for investment banking. Was wondering what the likelihood of having to do a stock pitch is. ...
|2||5 days 4 hours ago|
Hey Monkeys, I have been asked to do some research into film library financing. My boutiques resources are pretty slim and online searches do not reveal anything as recent. What I am curious about is what is the general LTV given to film libraries? A 2011 Bloomberg article stated that LTVs dropped f...
|0||5 days 4 hours ago|
Does anyone know of the RX group at Barclays? Found a couple of old threads here but looking for any updated info, particularly, the hiring process and group reputation compared to RX specialists (HL, PJT, Lazard, etc.) Thanks! ...
|5||5 days 6 hours ago|
I have been in contact with a recruiter for a large IB. I have been persistent about pursuing their analyst position. But they've recently told me that it would be difficult to land a position because I lack an IB internship. What are my options? My degree is in mathematics from a liberal arts colle...
|6||5 days 7 hours ago|
After 7 years at BB, started growth i-banking shop, growth capital / M&A three years ago, have good deal flow. Looking to access alternative buckets of capital beyond vanilla pe / vc / hf / mezz for financings of growth companies (direct investing in private growth companies - not start ups). F...
|1||5 days 13 hours ago|
Does anyone know how to calculate the WACC (or any appropriate discount rate) for a startup service company with no debt, funded through a mix of employee capital and venture capital? I don't think this matters, but no dividends are paid over 5 year projections (it's a growing company). I would appr...
|42||5 days 16 hours ago|
WSO, it is time to talk. The new trend around here lately has been to post about how badly you hate your job (specifically in iBanking) and then act like a genius when you decide you want to leave. This needs to stop. It is not a shocking revelation that you don't like working 100 hours a week, ge...
|139||5 days 18 hours ago|
What did you guys think of this massive takedown by Senator Warren? Telling Wells Fargo's CEO to resign directly to his face. Here's a quote from Warren during the congressional hearing: Other big banks average fewer than three accounts per customer. But you set the target at eight. Every customer ...
|35||5 days 18 hours ago|
I am working on putting together a comp. set for a lower-middle market private company. However, given the niche market of the client, putting together a comp. set is a challenge. I did find divisions of public companies, that relate. However, I am not sure how to value that portion. To be specific...
|4||5 days 18 hours ago|
Can anyone provide any insight into JP Morgan Latin America M&A group and other relevant Latin America front office groups on the street. I've read on here that the only down side of LatAm groups is that it may be a bit harder to land PE placements than traditional groups, but since it is so har...
|0||5 days 19 hours ago|
I'm currently a second year at a target school with 3.8 GPA double major in Art History and Economics. Planning to apply for 2017 Summer Analyst. I'm really worried about the tech questions in interviews, because given my background, I have not had any econ/finance course before college. And because...
|0||5 days 19 hours ago|
as far as I know, this is the corporate banking division of Citi, correct? What are the pay, hours, and exit ops like coming from GTS? ...
|27||5 days 20 hours ago|
I am meeting with a co-founder and part of the upper management at JMP Group in San Francisco for an interview. I recently graduated from UC San Diego with a degree in Psychology, but I was on the team that won the 2012 entrepreneurship challenge at UCSD, and have started two companies within the tr...
|0||5 days 22 hours ago|
Does anybody have information regarding the GS Hirevue process? Specifically: Are they hard to land? (Because I go to a non-target 3.75 with relevant work experience & managed to land one) Questions they ask? (Assuming they are all behavioral on the first interview) Average time to respond? Wha...
|1||5 days 22 hours ago|
Seems as though risk is extremely unappreciated on the forum and is unfairly grouped with ops and compliance as "No Man's Land" at a bb. I've noticed the pay is decent compared to some other finance jobs and that they have become quite the necessity post-2008. @IlliniProgrammer and @SSits seem to gi...
|22||5 days 22 hours ago|