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||2 months 1 week ago|
Hi, I am currently working as a Summer Analyst in London at one of the American Bulge Brackets. There#s a party from my team coming up next week, and obviously it is a good opportunity to get to know the people better. However, I am a bit concerned about the stories you sometimes hear, that they wan...
|1||2 min 21 sec ago|
Hey, fellow monkeys, I am towards the end of my 1st year as an analyst in a BB, where I'm in sales and trading. It's alright and it would definitely be a nice place to be in even if I had to stay on the same desk for the next ten years. Before I started to work I had this vision of my ideal career b...
|1||15 min 4 sec ago|
Hey guys. I'm a current unpaid intern at an established VC firm and so far loving it. I go during Fridays and it's for 9 months, so I'm getting decent exposure and working with the team (so I'm not some coffee bitch or anything). However, I had previously interviewed at some corporate advisory shop ...
|2||21 min 38 sec ago|
Which valuation methods would be appropriate in valuing a private, pre-revenue medical device company whose product is pending FDA approval? ...
|0||1 hour 49 min ago|
Does anybody have suggestions? I know BIWS FIG course is great, but looking more for an interview guide (banks and insurance primarily). Thanks monkeys! ...
|2||2 hours 30 min ago|
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 Centerview Moelis Greenhill Perella Weinberg Houlihan Lokey Evercore HSBC Nomura ...
|56||2 hours 49 min ago|
I guess I'm at a bit of a crossroads to say the least. After failing to land an IB SA spot (had 2 superdays at BBs, couldn't close), I'm unsure what to do. I have an offer on the table to return full-time to a small Asset Management shop ($1B-2B AUM) and be the team's third analyst, but I really wan...
|3||3 hours 59 min ago|
Good evening, I was accepted to Bristol's Economics undergraduate course and York for PPE. Which course do you think is best for IBD / Buy-side research ? P.S: I can also go for Philosophy & Economics at Bristol, how does it compare to the ones I mentioned before ? Thank you ...
|1||5 hours 54 min ago|
Hi Everyone, Quick question. I am a Canadian Student who is going into their 3rd year. My dream has always been to work at BB in New York, and I am doing everything I can to achieve it. After speaking with a few people, I have heard a few things which I was hoping to get your opinion on. Specifica...
|0||6 hours 13 min ago|
After reading through numerous technical and behavioral interview guides, I am still having difficulty finding to what extent I must prepare for a IB internship interview. I know the basics (what's a DCF, three ways to value company, what's a 10k/10q, what's a LBO) but am far from comfortable in fin...
|0||6 hours 36 min ago|
Hey everyone, I'm a rising sophomore at a Canadian target university, and I'm looking for advice on how to improve my odds of breaking into investment banking. I'm currently doing a stint at a boutique PWM shop, and I think that for a summer freshman internship this is a pretty good start. Besides t...
|0||6 hours 48 min ago|
Myself, and a few people I know of were invited to do the 15min video interviewers for Goldman Sach's IBD summer internship. However, I believe they are not interviews, but rather you recording answers. Anybody have any experience with this/know what they ask? ...
|1||7 hours 25 min ago|
All, I am doing this because I haven't found a thread like this on WSO. I am curious as to everyone's most absurd ib interview questions that they have been asked, and their answer. Funny, intense, irrelevant, etc... I am not looking for the usual: "How many ping pong balls can fit in a 747?", ever...
|32||7 hours 30 min ago|
I'm having a bit of a brain fart - what is the right formula to do a simple revenue bridge (price, volume)? To assess revenue growth 2016 and 2015, is the right formula: - (2016 Price - 2015 Price) * 2015 Volume + (2016 Volume - 2015 Volume) * 2016 Price or is it - (2016 Price - 2015 Price) * 2016 V...
|0||8 hours 32 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! ...
|76||8 hours 54 min ago|
Hi, this is my first post in this forum. I wanted to know what are my chances of working in IB and what would be your recommendations in order for me to achieve that. First, some info about myself. I am currently finishing my 3rd year of university in Canada I am studying Finance. I have had 2 "work...
|0||9 hours 24 min ago|
I recently began doing work as an Analyst for a new boutique that advises small, closely owned companies (rev ~$1-10MM) find buyers to liquidate their equity stake. This is my first M&A/IB role, but I don't feel like I have broken in. I'm not getting paid and I feel like I don't get a lot of exp...
|3||9 hours 35 min ago|
I have always wondered about this. I go to a so called target school but I never felt like it really gave me any advantage over other schools. I like reading all the posts about people breaking in from "non targets" but I feel like it is pretty much an even playing field. Sure, some schools might ha...
|38||11 hours 1 min ago|
I am a 2nd generation South-East Asian from Miami. My mother was born in Latin America, and speaks Spanish fluently but is Vietnamese. While the exact definition of what "Hispanic" means is often debated, the first few results on Google state, "Hispanic or Latino Americans are Americans with origi...
|8||11 hours 6 min ago|
I'm a rising sophomore in college, currently interning at a small private equity fund. For next summer, I'm trying to do IB and think Lev Fin and Financial Sponsors could be a good fit. I've been doing some research and it seems like the Acquisition Finance team at Mizuho covers both Leveraged Finan...
|1||11 hours 18 min ago|
Hello, I recently applied for an accelerated interview process for an investment banking analyst program at Stifel. I have a first round coming up in a couple of days and was wondering if anyone has interviewed there or if anyone who works there would like to have a conversation about the firm. Tha...
|1||12 hours 1 min ago|
Hi, I'm an incoming college freshman. I competed in an international competition this summer, that's technically a high school competition, and placed 3rd. Should I put this on my LinkedIn as well as job resumes, or would that be kind of dumb since it's from high school? What about other national aw...
|3||12 hours 50 min ago|
Hey guys im new ...
|2||12 hours 56 min ago|
Hello everyone, I will start an internship with a MM IB in Frankfurt in November. Originally, I applied for a FT position, however the bank told me that they normally require an internship before giving FT offers. How are the chances to convert an internship to a FT offer with MM IB like William Bl...
Germn Born Chinese
|2||13 hours 15 min ago|
If I graduate from a top MBA program at age 32, 33, or 34, and would like to go into ibanking upon graduation, all other things being equal, would my age put me at a significant disadvantage to other candidates? ...
|42||14 hours 5 min ago|
Hi All, So I was wondering if anyone knows who (if anyone besides the BCG team) your results are shared with? I have a disorderly persons offense for marijuana possession from college (expunged from regular criminal check, but still shows up on fingerprint report). I was hired at a major financial f...
|1||14 hours 29 min ago|
I want to break into investment banking. However, some of my internship experience is seemingly irrelevant. I have had two internships, one in tax accounting, the other in finance. My question: what qualities do interviewers look for when assessing internship experience? What should I try to highlig...
|0||15 hours 3 min ago|
Masters in Finance, Masters in Management Studies, Masters in Financial Engineering. Are they worth it if you don't get into Investment Banking? Thinking about getting one of those degrees, working, then MBA and trying again if I don't get into Investment Banking. ...
|2||15 hours 24 min ago|
I am a rising Junior at a target majoring in Economics and Math with a 3.4 GPA. I have completed a search fund internship (where I did a lot of industry research and due diligence) and a very small boutique IB (performed basic valuation, created many CIMs, industry research, aggregated KPIs, etc.) i...
|3||15 hours 32 min ago|
Heading into my senior year in college. I'm a liberal arts major, should I switch major to Finance or get a MSF, MMS, MFE degree ...
|0||16 hours 9 min 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...
|218||17 hours 3 sec ago|
I started my freshman year with a 2.34 progressed every single semester since then. I pledged a fraternity and didn't realize the importance of an education. Also wanted to ask does putting down a fraternity look bad or good on a resume? I go to University At Buffalo (non-target) which allows retak...
|40||17 hours 42 min ago|
I saw a lot of people heading to PE (even it's a 2nd tier) after 2 years of investment banking. Is it really worth it? Id personally pick the former due to its prestige and higher compensation. ...
|4||20 hours 21 min ago|
Hi all, just a technical qns on the adjustments on EV. The simplified version for EV calculations of is EV = debt + equity - cash + operating and capital leases A) For cash, do we deduct "restricted cash" from EV? And why? If it depends, under what circumstances do we remove it? I personally don't d...
|1||20 hours 46 min ago|
I love finance, I really enjoy working in it. The numbers, the models (excel), all of it. However the hours are somewhat getting to me. Although I probably don't have the very worst hours out there, having my weekdays being constrained to long days in the office and limited sleep is just not great...
|44||1 day 6 hours ago|
Hey all, I am a rising senior, currently working in PE in the Dallas/Fort Worth area, planning on going into investment banking. Would ideally like to be in Houston but no shot I go into energy. Are there any IB's in Houston that are diversified and recruit analysts for non-energy groups? Thanks ...
|5||1 day 8 hours ago|
With the traditional, "Why Banking?" question, I think there hasn't really been much chatter about what is it that bankers do, especially at a junior level, that makes this business so unique? For any of the current analysts/associates out there- are there any reasons why you chose the investment ba...
|3||1 day 9 hours ago|
I've been doing a lot of networking trying to get in at the associate level in banking (I have 10 years of related work experience) - and finally got my resume through at a BB and an analyst is now reaching out to set up a phone call. Seems like a bad sign or am I being paranoid? ...
|4||1 day 11 hours ago|
Hi, please I need a clarification on this, I am trying to apply for a summer internship with one of these BB Investment Banks , does anyone know for sure if they will be willing to sponsor my travel costs, if I survive the recruitment process, all the way from Nigeria, thanks. ...
|0||1 day 12 hours ago|
We're giving away 10 free copies of Jared Dillian's new book "All The Evil Of This World" to 10 lucky participants. The contest begins tonight at midnight and ends midnight Monday August first. We will pick 10 winners from all the entries and mail you a free copy of the book :-) To enter, all you ...
|2||1 day 13 hours ago|
I am a pennystock trader and I perform risk management analysis all the time. I don't want to seem foolish nor too uneducated when I meet him. I want to prove my intelligence and show up ready to talk to him. Is there anything I should study or know about before I meet him? Any insight would be help...
|4||1 day 13 hours ago|
Are we in a bubble? More than 50% of industry leaders in a recent study have cited that valuations in their industry are unsustainable. Dollar Shave Club had about $152MM in revenue last year. Idk if this is right but with an EBITDA margin of, let's say, 20%, this company has only about 30MM in EBI...
|24||1 day 15 hours ago|
Hi, I'm currently an MBA Summer Associate at a BB. I wanted to try this out and it's clearly not for me. The hours are hellish. I want to go for MBB consulting full-time, but am worried that if I don't get a return offer from the BB it will look really bad (chances are I won't get an offer). Brexit ...
|11||1 day 16 hours ago|
I've recently had a few people tell me that ibanking is dead, changed forever, no longer a viable career path, etc. One was a BB ibanker but his group was shut down and he is now in admin inside the same bank wishing he could get back into the deal business. The other was tracking to ibanking and...
|0||1 day 17 hours ago|
Hey guys, I am curious about the transition from consulting to banking. I work in a modelling heavy firm and am exposed to M&A deals and valuation related work frequently. I have been here a few months and have a M&A internship as well. I enjoy the work but want to switch to banking. I am cu...
|0||1 day 17 hours ago|
I am a rising sophomore at a non-target school majoring in accounting. After some serious networking, I just recently got an internship offer to work at an insurance company in their investments team. They have fixed income, equity, real estate, and PE portfolios and I will be focusing on equity res...
|7||1 day 17 hours ago|
It makes no sense... All these banks' diversity programs say, "...is open to students who identify as Black, Hispanic or Native American students in their sophomore or junior year." Is there a reason for this? Last time I checked, Asians are minorities. ...
|18||1 day 18 hours ago|
Hello everyone. I am currently a rising senior at an extreme non-target who is hoping to break into investment banking. Despite going to a small, unknown school I was able to land a summer analyst position at a big 3 credit ratings agency. I am truly thankful for this opportunity and consider myself...
|0||1 day 20 hours ago|
Hey, Does anybody have a good Project finance model they could share? Preferably one with a DSCR debt sizing VBA script in there. Thanks. ...
|0||1 day 22 hours ago|
I have begun the networking process and attend a "target" school. I am not saying I could get into any BB I chose, but if I actively pursued a few I believe I would have a good chance. I know about vault, however I still believe BB's are the best place to start your career and they factor in boutiqu...
|8||1 day 22 hours ago|
Hi Monkeys, I am currently preparing for the graduate recruitments in London. I wondered: 1. Will they ask me in which group (sector or product) I want to work in if I am recruited? 2. If yes, should I really perfectly know this sector or questions will remain basic? 3. Which sector would you recomm...
|0||2 days 46 min ago|
I'm currently studying economics at a target university. Both my major and cumulative GPA are perfect, which I know are important when it comes to recruiting. However, I'm extremely bored in my major (not challenging or rewarding) and want to change it to either mathematics or theoretical physics si...
|1||2 days 1 hour ago|
Hi All, Looking to get some real, genuine feedback on this. I am currently a rising sophomore transferring to another university. On my resume, what should I do for listing a GPA? (Given that I haven't even taken a class at the new university). I am obviously putting my GPA from my previous institut...
|1||2 days 1 hour ago|
Hello fellow members, I was wondering if anyone in here is fro Germany or has experience with German universities and which ones are considered "target schools"? I have read before that most Banks primarily recruit from the following: WHU, EBS, HHL, Mannheim and Frankfurt (goethe) Thanks ...
|29||2 days 1 hour ago|
Guys, Currently interning in the workout group of a major bank and am almost positive i will receive a full-time offer.(Disclaimer: I really like everyone i work with and have ;earned so much. I just feel like my personality fits the IB mindset better) That being said i am STRONGLY considering push...
|1||2 days 2 hours ago|
The title pretty much states my question. I'll be in New York this upcoming Winter and want to know what the best spots are for a decently priced meal. Any recommendations? ...
|5||2 days 2 hours ago|
I'm coming across this problem where there is a deferred tax asset/liability in projections. Anyone have any insight on how to handle this? My three options: 1.) Project as a percent of revenue and just keep constant 2.) Project as decreasing over the projection period - reasoning: my thinking is th...
|2||2 days 4 hours ago|
How hard would it be to move from Consulting to IBD and what will I have to do? Is networking all I have to do? ...
|0||2 days 4 hours ago|
I'm a liberal art major. Is getting a MSF or MMS at a top school worth it? If I network well will there be a chance I might be offered a job in the IBD after I complete the program? Tuition is 50k. I'm thinking about working and networking my way into IBD then get a top MBA instead. ...
|0||2 days 4 hours ago|
I had a bit of an odd situation freshman year of college and I cannot work under an FDIC insured bank for the next few years. This takes off GS and most Investment banks, honestly never even seen an Investment banking internship not under a FDIC insured bank... However, when I look up Morgan Stanley...
|29||2 days 7 hours ago|
If anyone has any insight on this process I'd appreciate it. Basically got started late in the game (econ major, decided om IB senior year). Ended up at a no name boutique to get my foot in the door/get some experience. Pro: Great deal experience, since I am the only analyst in my office and they d...
|3||2 days 7 hours ago|
Is it important to put how much money the company you previously worked for manages? I've seen "AUM $4b" before and wanted to know if this is something companies look for on resumes. Kind of a noob question but I would like clarification on it. ...
|1||2 days 8 hours ago|
Rising freshman at target school. Hey everyone, I'm really interested in IB and I'm trying to figure out the skillset I need to bolster my resume and skills for such an industry. I'm wondering what are the thoughts on a Programming language for IB? It seems like aside from maybe SQL and VBA, there i...
|1||2 days 9 hours ago|
What are your guys thoughts on Roger Ailes, CEO of Fox News, being fired by the Murdoch sons due to the recent accusations of Gretchen Carlson? ...
|2||2 days 10 hours ago|
Hey guys, I'm a rising junior and I am currently interning in Advisory at one of the Big 4. To make a long story short, I am incredibly fed up with my internship. I've been working for nearly 6 weeks and half my time has been literally spent doing nothing -- I've done a lot of reading and even enrol...
|4||2 days 10 hours ago|
Wells Fargo is rolling out a new program that is offering student loans days after it announced plans to launch a robo-advisor service in early 2017. The bank states that it is the largest student lender of U.S. commericial banks is offering an interest rate discount of 0.5% to Amazon prime customer...
|0||2 days 12 hours ago|
How is Creidt Suisse TMT NY holding up these days? I know there's been a bloodbath in SF with senior tech bankers leaving but haven't heard much about New York recently. Also, how is the current culture, exit opps, etc especially compared to m&a? ...
|1||2 days 13 hours ago|
I'm currently an IB SA in one of the BBs. We all know that it's nearing the end of the internship for the summer, and I'm quite scared to see what the return offer rates will be - especially for smaller groups in IB. Do you think the market will make banks allocate fewer return offers this year? And...
|0||2 days 14 hours ago|
|0||2 days 17 hours ago|
Anyone know anything about these guys in Newport Beach? How are they viewed in the industry? ...
|3||2 days 18 hours ago|
|5||2 days 19 hours ago|
Can you make money on Facebook, and is it too much hard work? i mean you would need to have at least a 100+ friends for your group and also how much do you make on online commercials - not much right? is it a good idea to do or waste of time? Thanks for your time anyway! Have a great day. Johan -...
|0||2 days 21 hours ago|
Fitting that the day I finish the popular book Flash Boys (yes I know I'm behind on this) this news come by my desktop... James Simons and Renaissance Technologies has recently filed a patent for outrunning speed crazed traders through executing synchronized trades in multiple exchanges. The inventi...
|1||2 days 22 hours ago|
Have you guys heard this guy's podcast? Do you think it is legitimate and helpful for understanding the financial services industry? Saw him on Business Insider the other day, Goldman Sachs TMT Analyst that recently left and trying to "increase transparency in finance". ...
|2||3 days 3 hours ago|
I'm trying to buy a laptop before my IB stint, and I expect to doing remote work on it during travel and at home. Any recommendations? ...
|2||3 days 3 hours ago|
Having trouble figuring out how to follow up with everyone I have been networking with so far. How do you send an update email that you are applying to their firm thru accelerated recruiting? Should I ask everyone again for a coffee chat or phone call? ...
|5||3 days 3 hours ago|
Anyone heard anything about the Birmingham office specifically? What is the culture like? I want to be able to stay close to home and help out on my family's ranch over the weekends. Roll Tide! ...
Gold Man Stan
|7||3 days 6 hours ago|
Anyone have any info on Millstein & Co? The last company-specific WSO post seems to be from March 2013. Interested in firm reputation, culture, deal flow and hiring. Thanks! ...
|2||3 days 6 hours ago|
What's the typical compensation for credit investment associates at the megafunds? (i.e. KKR, Apollo, Centerbridge, etc.) Can't find any solid information on this ...
|6||3 days 9 hours ago|
Good Morning, A sign of the times - there seem to be a number of opportunities at credit funds that invest in sub investment grade debt, CLOs, and credit strategies within PE funds. I'm sure experiences vary across funds, but can anyone provide salary, hours, and experiences from Analyst through whi...
|7||3 days 9 hours ago|
I just finished interviewing a few hours ago with a VP from a local firm for a spring analyst position but I have no idea if I should send a follow up email. I got to the office about 20 minutes early so I talked with the receptionist who offered me some chocolate mints. Not sure why but caffeine al...
Gold Man Stan
|11||3 days 9 hours ago|
What is everyone's opinion on the future of the non-US BBs, like CS, Barclays, DB, HSBC Securities, UBS. Do you think this would not be a good time to go into their programs or nothing to worry about. In addition if you had to go from best suited for the future to worst what would it be? I know CS m...
|0||3 days 10 hours ago|
One of my Princeton friend told me that, in investment banking, your undergrad degree is the most important regardless of your grad degree. He also says since most of the demands are for undergrads, it is extremely difficult for grad students enter this field. Is it true? What about Ph.D? Are peopl...
|3||3 days 10 hours ago|
Hey friends. A bit of background. I graduated from Oxford Medical School a year ago with a BA in Neurosciences and BMBCh (Distinction) in Finals. Had a gap year and will be starting my foundation year training in 2 months or so (similar to American "residency"). So I'm a doctor and I lol at your pa...
|173||3 days 11 hours ago|
Hi WSO Forum members, I am based in Eastern Europe and am finishing my undergrad. Decent GPA, experience with startup and in Risk and reporting at a major BB in Frankfurt. I have been offered the role of Investor Services associate at a major bank here that I am starting next month, but I do not wan...
|0||3 days 11 hours ago|
After a recent treasury market rally, economists expectations have become more and more bullish. "Ten-year U.S. yields will fall more than 50 basis points, or 0.5 percentage point, to 1 percent in the first quarter of 2017" - Matthew Hornbach, Morgan Stanley None of the 61 economists surveyed by Bl...
|0||3 days 12 hours ago|
So the "housing manager" of my fraternity also happens to be an ED at a top BB in NYC. With a staggeringly-low GPA of 3.17 at a target school, my chances for an IBD junior-year internship anywhere are abysmal considering just my grades. Any advice on how I should reach out to someone so senior in th...
|1||3 days 13 hours ago|
Please include Location and Product/Coverage Group There have been several similar post but I think this question needs updated answer for 2016. I would choose generalist a Moelis in NY. ...
|1||3 days 14 hours ago|
MY friend just graduated this year but no more information is added to his linkedin or facebook. Does this mean that he failed to get in? ...
|4||3 days 17 hours ago|
Why does Moelis/Evercore make you take it while Lazard/Greenhill don't???? This test is terrible. ...
|2||3 days 19 hours ago|
How much networking did you do when you landed your FT IB gig?.. ...
|0||3 days 20 hours ago|
I was asked in a BB IBD summer intern interview something along the lines of.. how can a company decide on using debt or equity to fund an acquisition/transaction and what are the benefits and disadvantages of using each one. I can't remember exactly what I said but I spoke a bit how using debt is r...
|3||3 days 20 hours ago|
Has anyone heard back after interviews on July 14th for IB? Thanks! ...
|3||3 days 21 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...
|110||3 days 22 hours ago|
I am now working in Big 4 London as a audit associate. I have been already ACCA exam qualified, but still work for ACA qualification as requested. Now, I have a chance to break into a Top BB (like GS, MS, JP) finance department as a product controller associate (delta one trading). It is a experienc...
|7||3 days 22 hours ago|
Hi all, What are the best resources to learn about financial modeling for distressed companies? I'm interning at an asset reconstruction firm this summer and wanted to learn as much about the process before I start. Thank you! ...
|0||3 days 23 hours ago|
Hey guys, I was about about to start an internship in Capital Structure Advisory and found out the importance of some critical ownership thresholds when we structure a M&A operation. So could anyone please help me to understand how these thresholds are important to shareholders and the company i...
|2||4 days 5 min ago|
Hi Could anyone let me know whether Deutsche Bank back office IT staff has corporation title like Analytics, Associate, VP, ED etc? If so, does Deutsche Bank has a parallel functional job titles for IT staff? I know some banks don't give IT staff corporation titles. A developers in those banks are...
|0||4 days 8 hours ago|
I am interested in their summer Advantage program. Could someone how has recently completed the program tell me about your opinions? Thanks ...
Jason Li Han Xun
|13||4 days 8 hours ago|