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||8 months 1 week ago|
So what are people hearing at DB? Is this really going to impact VP and below pay as well? Per NY Post and Bloomberg First, it was a report by the NY post, according to which Deutsche Bank may hold back on giving out bonuses to as many as 90% of bankers and traders, noting that only the top 10% of r...
|20||2 min 19 sec ago|
I've recently been reading a bunch of books: M&A Titans, Barbarians at the Gate, Den of Thieves, Predators Ball, Big Deal: 2000 and Beyond, Rainmaker....among others. It has me wondering. Who are today's top bankers? Are there any legends-in-the-making out there currently? Is this question even ...
|49||14 min 53 sec ago|
All NY, what are peoples thoughts on this scenario for someone who isn't considering the buyside (so PE placements don't matter) but instead a long term banking career? ...
|6||58 min 24 sec ago|
Asking for an advice on choosing among summer associate offers - I'm a first year bschool student at an M7 school and have been recruiting for banking. I need to decide fairly quickly on those offers and I'd appreciate any insights. Through my own research, there have been a lot of discussions aroun...
|12||1 hour 12 min ago|
How are bonuses looking this year? Sounds like Deutsche got hammered and Morgan Stanley was down 15%. ...
|19||1 hour 12 min ago|
Mind you I'm in ops of a totally different dept but it seems like IBD is boring. Would much rather do ER/AM/S&T/ etc. ...
|52||1 hour 46 min ago|
I read in a few interview guides that this question could come up. Can I get away with saying something like I do yoga and drink green tea? Or does that sound dumb. What's that best way to answer this question? ...
|27||2 hours 13 min ago|
I applied for the HSBC NY summer internship back on December 18, finished and passed my online assessment on Dec 30, but have not heard back from them since? Is the online assessment done after they screen interviews, or does everyone who apply get to do it? Thanks. ...
|14||3 hours 11 min ago|
How does compensation compare at Citigroup versus Goldman for analysts and associates? What about at the VP level? Are analyst bonuses at Goldman set by division or can an analyst be paid whatever an MD deems she's worth? ...
|3||3 hours 28 min ago|
So applications are up! You dont have to reveal actual interview questions. Just wanted to know how youre experience was for 2016 class. As for me, the interviewer seemed more like a gatekeeper from an admission staff. Its like I had the criteria for an interview, but since I came from a "non-tradit...
|177||3 hours 29 min ago|
I received an IBD summer analyst offer from a top MM (borderline BB) bank in the fall which I happily accepted. However it was only a platform offer subject to later group and location placement. I just got my group and location placement and I'm very, very disappointed. I got placed in my absolute ...
|17||3 hours 32 min ago|
So I'm recovering from a procedure and out of commission for a couple days, and I thought I would use the downtime share a few observations / career guidance for those people starting out in the business. Take this with a pinch of salt, as its one person's advice, but these are all things that have ...
|128||3 hours 41 min ago|
****I heard people break into BNP Paribas with Babson according to the WSO Rankings Is this true? ...
|9||3 hours 58 min ago|
Hey everyone! I was just wondering if anyone knew MM banks that are good with diversity (e.g. Mix of asians, black, hispanic bankers). Banks like Harris Williams, Jefferies, etc. I've noticed that some MM banks are very good with it and others seem like they only take the same type of person. ...
|1||4 hours 16 sec ago|
The applications for the Pride Summit and the Undergraduate Camp went up today. I just applied and notified my contact in HCM. Applications will be reviewed on a rolling basis but communications will not be sent out until the deadline has passed. This thread will be updated after I follow up in a fe...
|10||4 hours 1 min ago|
I received an IBD summer analyst offer from a top MM/borderline BB bank earlier this fall which I happily accepted. However, I'm very disappointed with the group and location placement I received (a group most other banks don't consider to be IBD and in a non-financial hub city), and I absolutely ca...
|14||4 hours 29 min ago|
Here's a video quick 101 on Luxottica. Here's a Forbes article if you don't feel like watching the video. The Conspiracy Behind Your Glasses Essilor is a renowed lens crafter, Luxottica owns a ton of major frame companies, now the two will combine after Essilor agreed to buy Luxottica for $24 bil ...
|19||5 hours 23 min ago|
I'm currently an International student going to high school in the US. I have Bangladeshi citizenship. I don't care about where I work as long as it is in either US or Canada. I have been admitted to: Mcgill (Economics) (no debt) Western Ontario (not Ivey AEO) (no debt) UMich (Ross) ($100,000 debt) ...
|23||5 hours 31 min ago|
I had a lot of AP credits going into college (covered the bulk of university general studies), which allowed me to do a quadruple major (finance being one of them). I have done a few ib interviews and I feel like I always get grilled down hard on why finance/IB questions. I was talking to my profess...
|0||5 hours 34 min ago|
Was wondering what people thought about ECM at JP Morgan in NYC. How does it compare with other groups for lateralling and do you gain the skills you'd need to lateral? ...
|0||6 hours 15 min ago|
A lot of these articles have been coming out http://www.independent.co.uk/news/business/news/br... where banks in London are considering moving a large amount of jobs into the EU away from London. Is it gonna be as bad as they say? Could all these jobs go or is it an overreaction? ...
|6||7 hours 10 min ago|
Hi guys, I'm a Junior that just got an offer to work at S&P Global's Dow Jones Indices Finance/Analytics internship. However, what I really want is something in investment banking. Can anyone who's done this program give me some insight in what it's like? Or maybe some advice about transitioning...
|1||7 hours 51 min ago|
Hi, guys I know that everybody knows P/E is capital structure dependent and EV/EBITDA & EV/EBIT are capital structure neutral. However, there are numbers of different reasons here for this argument. If I said: P/E is capital structure dependent, b/c holds everything equal, when you get more debt...
|0||9 hours 2 min ago|
Hi guys - I'm posting on here because of the traffic in this section. Simple question, for a Canadian to work in Australia, what type of visas do financial services firms typically give out (investment banks, or private equity shops)? I'm wondering whether they give out something like TN (equivalent...
|1||9 hours 2 min ago|
All, Can you help me with the following questions? What are the effects on the 3 financial statements when the following happens? A) A company reduces its accounts receivables reserve ratio. B) A company begins to capitalize R&D expenses. C) Why would a company do these things? Thanks for the he...
|1||9 hours 2 min ago|
What happened to that other thread that someone started? Did it get deleted? Or is comp something we can't talk about ...
|3||10 hours 28 min ago|
In a DCF I'm confused what to do with deferred taxes if I should include it or not? For the working capital calculation in a DCF you excluded deferred taxes but when you add back non cash expenses in a DCF like D&A and Stock based comp do you add deferred taxes? ...
|1||10 hours 55 min ago|
Hi, guys. I got a little confuse with the P/E ratio. I know that P/E ratio is capital structure dependent. But there are two explanation for this argument: 1: The EPS is after interests payments, so the company which has more debts would get lower EPS, therefore P/E ratio is capital structure depend...
|10||11 hours 7 min ago|
So I am losing sleep here and would love to get some help/advice: My situation is I recently got an IB full time offer at a MM and I accepted it and signed everything. They emailed me today about giving them my consent to do a background check on me and filling out an employment verification form. M...
|30||11 hours 14 min ago|
I heard people break into BNP Paribas with Babson according to the WSO Rankings Is this true? ...
|0||11 hours 39 min ago|
Just received an email from HR that the group placement process has gone virtual. First Goldman replacing the traditional interview process with Hirevue, now this. Any tips? ...
|0||12 hours 13 min ago|
Does anyone have any experience with the Dallas office? Hours/comp/exits? Any information in appreciated. ...
|6||14 hours 3 min ago|
Hi all, I am set to start working at a Canadian bank in Toronto this summer and am hoping to eventually make the jump to New York. I was curious if anyone has had experience with this or if anyone had any opinions on how to best position myself come my start date in order to successfully complete th...
|1||14 hours 12 min ago|
Seeking opinions and thoughts here.. I have an offer at Bloomberg to work on their Terminal help desk with advancement into advanced help essentially or sales, they call it "analytics" but really customer service from what I read. Pay and hours is unmatched: 40 hours a week for most part and $68K ba...
|8||16 hours 23 min ago|
Quick question to those who've been in the industry for a few years - have you had experience with turning down people who you have a good relationship with who keep trying to hire you? A guy I've known for about 5 years at a mid-cap place has approached me with an offer to work in their IBD team, b...
|1||16 hours 49 min ago|
Does anyone here have any tips for how to reach out to random people? I go to an extreme non-target and don't have any contacts in the finance industry, so I am forced to reach out to random people through either Linkedin or guessing their firm's email format. The people that I am reaching out out t...
|10||16 hours 59 min ago|
I am looking at breaking into investment banking and want to become a "rock star" at Excel. What are some recommendations in terms of the best training programs related to Excel. There are tons of videos on YouTube and different online courses, but which ones are going to give me the best bang for m...
|18||17 hours 3 min ago|
Hi, New to this forum and website so if I'm posting to the wrong area let me know. Also I'm from Australia if that's important. Anyhow, I'm looking into a future in financial services, mainly IB, M&A, hedge funds, equity sort of thing. I've been researching I'm getting conflicting advice in term...
|1||17 hours 36 min ago|
I am doing a summer internship at a Bulge Bracket in London this year, can choose between the above mentioned groups. Obviously I want to maximise my chances of getting a FTO. Which group would you pick? Which team is more likely to hire given the current environment? Thanks. ...
|5||17 hours 37 min ago|
Hey all. I'm currently interning at an established VC firm and love what I do when I go in on Fridays. However, I've received an email from an elite boutique saying they want to interview me. I sent the MD a cold email maybe 2 months ago and he apologised for getting back to me so late but he liked ...
|2||17 hours 39 min ago|
Is my tactic for approaching this question the right method if I am every asked it in an interview? Start by saying there are 3 financial statements and give a brief description of each one e.g. The Income Statement shows a company's revenues and expenses over a time period to arrive at net income. ...
|2||17 hours 40 min ago|
Anyone have experience with an "excel test" during an interview process? Was told there would be a ~1 hr. long excel test for a position outside of traditional investment banking / corporate finance. Anyone know what this could possibly entail? If it were just 30 min or so, I'd imagine it'd be sta...
|3||17 hours 43 min ago|
Read through this thread: http://www.wallstreetoasis.com/forums/how-is-pjt-p... But i'm looking for an update a year and a half later or so. How did comp shake out? How is the increasing deal flow? I'm less concerned about exit opps but interested to hear that side too. Basically just looking for an...
|15||17 hours 49 min ago|
Applied and interviewed for an off cycle internship position in BB last November. Emailed HR this month and they said my application is still being considered and is under compliance checks. The internship starts this February. Is the waiting time normal? Or am I already rejected? Thanks! ...
|3||18 hours 6 min ago|
I have to choose between 2 FT analyst offers (graduate) in London: - GS IBD (TMT) - Clayton Dubilier & Rice (private equity analyst in the investment team) I know the question refers to M&A vs PE, but this is also very tricky to me. CD&R is a strong PE fund, but mainly in the US where a...
|8||18 hours 8 min ago|
Does anyone know if Citi, BAML, DB, or GS has started sending out first round interview invitations? I know MS, JPM, and CS have, but I am not sure about the others. ...
|308||22 hours 4 min ago|
I have been working at an ib start up since June '16 and for a multitude of reasons am now looking to make the switch to a more establish firm (namely anything BUT a start up). I know I need to NETWORK, NETWORK, NETWORK, but aside from that do you all have any advice for me? I'm not sure what the hi...
|1||1 day 30 min ago|
In Liar's Poker, Michael Lewis calls himself an Investment Banker even though he works in S&T instead of IBD. Are salespeople and traders also considered Investment Bankers? Thanks. ...
|7||1 day 33 min ago|
Hi! Did anyone get any updates to UBS Sophomore Summer Program? I got an email that says they are currently reviewing first round video interviews. Does anyone know when we should know? Also after this what is the rest of the application process like? ...
|5||1 day 1 hour ago|
Soon to be an IBD analyst at a BB - my parents place is a 45minute commute from the office and would cost around $120 a week to commute. Is this an acceptable commute considering the long hours or should I look to rent a place near the office? How long is your commute? To those living nearby is the ...
Just The Tip
|42||1 day 1 hour ago|
I always hear people talk about investment banking's ridiculous hours (with a few analysts saying that they work 100 hour weeks). However, I do see many graduates in my school frequent restaurants, road trips and at times go on extended vacation. ...
|8||1 day 3 hours ago|
Hello, I'm currently a sophomore at a top 30 business school studying Finance. I plan to graduate college with at least a 3.8 GPA. Before I graduate I plan to have an internship this year at a small financial firm and to be a summer analyst intern for Summer 2018 (hopefully in Houston). Anyways, I j...
|9||1 day 4 hours ago|
There have been a few recent threads discussing the potential benefits and drawbacks of various legal stimulants on job performance, but I haven't seen much discussion around the effect of other (legal) psychoactive drugs on performance in high stress jobs like those found in the finance world. Spe...
|5||1 day 5 hours ago|
I am looking for some advice on what you may think is the best option for my junior summer internship- Morgan Stanley- Wealth ManagementMerrill Lynch- Wealth Management ---Both are just working for a group of financial advisors-- BNY Mellon- Asset ManagementPrudential- Asset ManagementPNC- Asset Man...
|12||1 day 5 hours ago|
Hey guys I currently go to a PAC 12 non target where I study Finance and have a 3.9 GPA. My school has a program where they place kids into IB but obviously transferring to a target would increase my chances. I would like to do S&T and am wondering which target schools are in my range. So far I ...
|5||1 day 5 hours ago|
Hi guys, I'm from a top target school and currently have an internship for the summer at a BB M&A group. Should I want to lateral to a different BB next year, what should I do? I'm mainly interested in TMT or M&A for lateral, but that may be asking for too much. I understand that FT recruiti...
|1||1 day 6 hours ago|
Having a tough time deciding between the two here. Love the culture and everything about Evercore, but I am told by a few unbiased people in finance that turning down GS is not really an option. ...
|9||1 day 6 hours ago|
As per title, I would appreciate any information on Gleacher Shacklock. How well are they doing? ...
|10||1 day 8 hours ago|
Did anyone hear back from UBS for this Sophomore Summer Analyst program after submitting the video interview? ...
|11||1 day 9 hours ago|
Received a full time offer at Wells Fargo IBD as an Associate. Any thoughts on this firm? Is much expected from them in the future? ...
|15||1 day 9 hours ago|
Interested in how exit opps from Wells compare to those at other banks. Also any other insight if this is group/location specific. Thanks. ...
|3||1 day 9 hours ago|
I know that most of Wells IBD groups are in Charlotte - but what groups in particular are in NYC? I'm guessing FIG, can people help me out here? Thanks. ...
|5||1 day 9 hours ago|
I've got a sell day coming up for WF and want to get some more info on groups within IBD. Looking for info on M&A in particular, but any group will be fine (dealflow, comp, exit ops...etc) ...
|16||1 day 9 hours ago|
Does anyone know how good Wells Fargo Securities IBD analyst program is in terms of exit opps, deal flow, etc? Does it compare to a bulge bracket in terms of deal size? ...
|17||1 day 9 hours ago|
What are the top groups at WFS in terms of deal experience / exit opportunities? ...
|20||1 day 9 hours 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!! ...
|5||1 day 9 hours ago|
If I work for a whole year before lateralling into investment banking, would I join as a second year analyst or would I have to start from the bottom? ...
|13||1 day 9 hours ago|
Hi, can anybody explain me that Why use EV/EBIT multiple when compared companies in the asset intensive industry? I've read a interview question about this: Question:'TheEV/EBIT,EV/EBITDA,andP/E multiples all measure a company's profitability. What's the difference between them,and when do you use e...
|10||1 day 9 hours ago|
Hey guys! I recently (Jan 10) completed the superday for GS in the Jersey City office. This particular position is in the Finance division for the Controller's function. I'm hoping maybe I can connect with other prospective hires? Also, can anyone tell me how long it usually takes to hear back from ...
|6||1 day 10 hours ago|
So, on paper, my freshman year has been going fantastic. I made a GPA over 3.9 at a Top 20 (semi-target) University, made plenty of lifelong friends who also know how to have fun, and found a great balance between maintaining a vibrant social and academic life. There's a lot to be excited for next s...
|30||1 day 11 hours ago|
Searched and saw some older threads, but haven't really seen anything as of late. Curious what word on the street is (or any other opinions or comments the community may have) regarding WF IB. From what I've read so far, sounds like they've been pretty successful since building out the platform ~5 ...
|29||1 day 11 hours ago|
I understand that the university itself is not considered among semi-target schools, but a bunch of people informed me that their business school is fine. Saw their 2016 undergrad finance ranking is placed at #16 by U.S. News, but not sure if it's reliable enough of a source. Anyways, small classes ...
|0||1 day 11 hours ago|
Hi, I'm an underclassman currently looking for internships and am hoping to enter IBD in the long run. Knowing that many of the front office roles at banks are already filled, I was just wondering what you guys thought is the most applicable to future ibd interviews/internships out of these back off...
|1||1 day 11 hours ago|
Hi, I currently work part-time at my school's finance department and our team is assigned a fund raising project. Could anyone has certain experience before share some idea about identifying fund resource and fund raising metrics? Thanks a lot!!!! ...
|0||1 day 11 hours ago|
(Undegrad) How well is NYU Stern perceived by recruiters, specifically compared to Duke, Columbia and Cornell? Would a student at Duke, Columbia and Cornell have an edge vs. NYU Stern in terms of recruiting? How would you investment banking analysts assess a kid from NYU Stern, Duke, Columbia and Co...
|220||1 day 12 hours ago|
I have recently started working in strategy consulting for a boutique consulting firm. In my day to day activities currently I am working on an ongoing project looking at things like financial statements, mergers and acquisition opportunities, market trends, corporate strategy etc. . on behalf of a...
|11||1 day 12 hours ago|
Hi all, I will be interning at MS this summer for IBD and I have the group selection phase coming up. I am wondering if anyone can comment on the various IBD groups at MS regarding their culture, exit opps, hours, return offer rate, etc. Any information would be greatly appreciated. Also, if anyone ...
|10||1 day 13 hours ago|
I am about to begin my work in the Wells Fargo Financial Analyst Program. Has anyone on this site gone through this program? If so, is there any information you could give me on what it was like, information you learned, if you feel it benefitted your career, or anything at all you would like to sha...
|7||1 day 14 hours ago|
I am looking to make the jump to the buyside next recruiting cycle and was wondering if anyone working outside of the financial hubs (NYC, Chicago, etc.) has had any experience working with buyside headhunters. I am currently at a Southern MM Ibank and headhunters are very rarely talked about or hea...
|0||1 day 14 hours ago|
Hi, I am wondering why ChemChina was able to (potentially) acquire Syngenta for a "mere" 20% premium of the previous share price, whereas Bayer had to offer a 40%+ premium for Monsanto. Syngenta and Monsanto are very similar companies with a similar revenue, profit, cash flow, and work in the same i...
|0||1 day 15 hours ago|
Hi everyone, I'm sure there are some similar posts out there but I'm hungover and not feeling very resourceful. I'm interning at a top MM bank in Chicago and have to preference groups soon. What are your guys' opinions on groups out of Chicago and group placement in general? I know industrials typic...
|3||1 day 16 hours ago|
Heard Citigroup used to bump their first year analysts from $85k base to $90k after the first 6 months, but did not this year. Can anyone confirm? Also overall what have senior analyst bonuses been like for the firm and versus street? ...
|3||1 day 16 hours ago|
Congrats, you've made it into finance...in the middle office. What is the middle office? Definitions vary, but think risk management, certain accounting roles, corporate treasury--broadly speaking, you interact with the business divisions on externally-related (i.e. client, funding) topics, but don'...
|36||1 day 16 hours ago|
I am sort of use to it, and I have a very basic knowledge of how it operates, but what are some important things to know about a terminal in regards to investment banking? I have seen their "Bloomberg University" cheat-sheet on Investment banking, but I feel like those are just basic keystrokes tha...
|9||1 day 16 hours ago|
Can't find any information on the role, which division it's in etc. I was thinking Real estate but what type of role is it? revenue generation/fancy word for words, not exactly sure. ...
|0||1 day 20 hours ago|
Background: I work for one of the largest banks in the world by assets, in credit analysis. My job is basically to analyze the credit risk of large corporates (generally more than $1Bn in revenue). Products are not limited to loans and revolvers, but extends to everything under the sun that is credi...
|97||1 day 22 hours ago|
I just got invited to the finance, specifically treasury, superday at Goldman Sachs on Thursday. I assume since I got the invite so close to the superday, I wasn't a very competitive candidate and only got the spot because someone else dropped out. The superday is only going to last 2 hours, accordi...
|6||1 day 22 hours ago|
Joining the IFC as an Investment Analyst straight out of undergrad...is it possible? Or is finance experience a prerequisite? ...
|2||1 day 23 hours ago|
Trying to make a decision. Does anyone have any perspective on these two groups in terms of summer experience as well as exit opps? ...
|6||2 days 1 hour ago|
I can only speak to the investment banking labor market (the market for investment banking summer interns and full-time analysts), but it's clear that the recruiting timeline is being pushed up earlier and earlier. Traditionally, the banks would recruit students during the winter/spring of their jun...
|0||2 days 1 hour ago|
Hi Everyone, Has anyone received an offer for the 2017 Corporate Client Banking or Commercial Banking Associate programs yet? If so what was the comp? Thanks all, ...
|5||2 days 2 hours ago|
Fellow Monkeys, Long time lurker, first post. Worked my way to an MBA programme and was fortunate enough to land a seat in IB coverage group at a place like Jefferies/Wells Fargo/RBC/UBS/DB. Unfortunately, through the placement process, the group I joined is not in an industry of interest. At the ti...
|1||2 days 3 hours ago|
I'm still just in high school, but I plan on a career in finance. I live in Indiana, so going to IU would be very convenient for me since it would be much cheaper and I'll still get a very good financial education. Can I still break into Investment Banking coming out of a semi-target like IU? ...
|5||2 days 4 hours ago|
This question comes up all the time, based off the extensive research that I have done on this site. But I was wondering which undergraduate school, out of my options, would the best for me to go to in order to have a career in Investment Banking. All of these schools I have been accepted to and alr...
|3||2 days 6 hours ago|
Im gonna make this post short. I KNOW both arent ideal roles. I really want to transfer to IB through hard, hard networking and being a good performer and maybe doing things on the side. Having said that, I know the switch is possible to IB but out of these two roles: Ops at BB vs. Commercial bankin...
|4||2 days 6 hours ago|
Haven't seen too many posts to shed light on this so ask away. Also see my latest post here: http://www.wallstreetoasis.com/forums/how-to-get-t... Mod Note (Andy): This is an older AMA originally posted on 2/20/16 but the OP let me know he's still able to answer some questions! Check out this other...
|113||2 days 8 hours ago|
Nevermind. Got the answer I needed...thanks for all the input everyone. Idk why I over thought this. Its really not a big deal haha ...
|9||2 days 8 hours ago|
Given my resume... What is my best course of action to get into I-banking? I will not accept being told that it can't be done. I would drive 12 hours to New York and beat on doors if that is what it would take.https://sli.mg/TTnTWI ...
|19||2 days 8 hours ago|
I would appreciate any candid advice on this issue. I interviewed with 6 companies last Fall for the summer analyst position at GS, MS, JPM, BCG, McKinsey, Bain. I had final rounds with GS IBD, MS GCM. I accepted MS GCM before JPM IBD final round. I had final rounds with BCG. I didn't have enough ti...
|4||2 days 10 hours ago|