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||5 months 2 weeks 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! ...
|97||1 min 53 sec ago|
Stuck in a dead end job....well, at least it feels like I'm at the brink of being stuck. I just recently graduated (28 yrs old, worked since 12 yrs old helping to contribute to a single parent household) with a B.S. in economics from a non-target school and took a job as an analyst in the back offi...
|10||3 min 34 sec ago|
Hello everyone! I'm a little bit frustrated. Briefly about me: 2 months ago I started as an analyst at Equties Sales at top bank in EM country in EE. My department headcount is fairly small, there are 2 MDs (ex BB) and me. I have never worked directly such senior persons. So basically to develop and...
|3||5 min 34 sec ago|
How do you guys communicate with recruiters who reach out to your company email? Is it weird that I'm paranoid as shit that my email will get flagged or some other nonsense? Would love to hear systems used from people who have gone through recruiting, thx! ...
|9||12 min 5 sec ago|
I received an offer from Goldman Sachs to work in Operations. I had a shoplifting charge expunged off my record and therefore I did not disclose it during the background questioner. Is this something I should be worried about? Even if it is expunged could they still use it to deny me employment? Has...
|7||26 min 9 sec ago|
The question is pretty much self-explanatory--what's your thoughts on dating a female banker: yay or nay? ...
|83||26 min 33 sec ago|
Hey Monkeys, is anyone else in the same boat as me and doesn't have an offer yet? I've been stressing out a lot lately about recruiting and wanted to know how many people are in my situation. I go to a small semi-target and have no desire to work at NYC or a BB so I've been looking at boutiques. Tha...
|21||27 min 32 sec ago|
Any insight into the summer analyst program Is it generalist? Are full-time analysts placed into a specific industry group? Work across all transaction types (debt, equity, M&A)? ...
|1||42 min 52 sec ago|
Hi everybody, I just read that unlevered FCF gives the Enterprise Value, and unlevered FCF are before Interest Expense (Debt) and Interest Income (Cash). To do a simple bridge calculation we do equity value + Net Debt = Enterprise Value. So we add the Net Debt, whereas as i said just above I read th...
|4||44 min 52 sec ago|
So here is the deal: although I am set to graduate next May, I somehow got an IB summer internship at a large bank(not BB, but similar to RBC, Nomura type), and might get return offer from it, so now I am thinking, should I delay graduation by a semester to do that internship? Of course I don't have...
|15||53 min 23 sec ago|
Hey Monkeys, I have an offer from a no-name boutique in a 2nd/3rd tier city, which I wasn't that stoked about. But after talking with the MD, he said I would do mostly M&A (sell-side and buy-side), but I could also work with their small PE arm (there is also a restructuring arm which I could may...
|2||1 hour 19 min ago|
I have offers from UBS LevFin and Citi FIG for a SA role. I am more interested in LevFin/M&A than FIG, but am nervous about accepting an offer from UBS after reading many forums. Thoughts on exit ops/ culture in both groups? ...
|5||1 hour 44 min ago|
Hi everybody, Concerning the DCF method, could you please tell me why do we substract taxes from EBIT and not from EBITDA or Net Income or any other item ? Many thanks ...
|6||1 hour 53 min ago|
Did anyone hear back from the DB superday for corporate finance? Interviewed on Friday 10/21/16 for target school. would HRs call on weekends or no...? This for summer analyst positions, not FT. ...
|24||2 hours 25 min ago|
Hello all, This is my first post so apologies if I am breaking any forum etiquette in advance, I have searched the forums for anything similar to what I am looking for advise for and couldn't find anything so I'm posting here in hopes that I get some useful insights. First of all, to introduce mys...
|0||2 hours 46 min ago|
Hi Guys, So I got an SA offer for Barclays London and they now asked me what group I want to be in. I got the opportunity to speak some analysts, but I wanted to know what the (unbiased) opinion on WSO is. I would like to get as much modeling and M&A exposure as possible (no they don't have a de...
|0||3 hours 26 min ago|
I think the title speaks for itself. What would have better exit opportunities and lifestyle? I heard BX's Multi Asset Investing team is essentially AM, but I could be wrong For MM/BB think RBC/WFS ...
|5||3 hours 29 min ago|
Hello all, I work as a ratings advisor in the debt capital markets team of a Bank. However, wanted to learn more about Covenants, Structuring, Pricing and the like - especially in the high yield space. Any recommendations on which books I could pick up for the same? Thanks ...
|2||3 hours 33 min ago|
Hey Guys! Which BB/EB have their Summer Analyst Super Days going on right now? Has anyone heard back from MS, BAML, CS and Barclays? Which Middle Market banks are giving out first rounds now? Please share guys! Thank you. ...
|32||6 hours 29 min ago|
I know this question has been asked MANY times. But, once again.. Which major is better overall, in terms of jobs? I come from a non-target school, and it seems like every student here has a hard time getting a general finance internship/job, (never mind investment banking). At this point, I assume...
|71||6 hours 43 min ago|
Need advice, I have these offers for SA 2017 - I know most people would say EVR but there's a few extra factors in play in my mind. I've already interned at Citi m&a, so having done 2 internships before FT there would put me in a good position to get on big deals (and m&a handles most execu...
|4||7 hours 10 min 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...
|590||7 hours 24 min ago|
So my friend run into some technical issue when applying for a bank. He reached out to me because I have been through the recruiting process with the same bank and asked me for HR's contact. Without hesitation, I gave him HR's email. By hindsight, I realized that I did so without asking HR's permiss...
|9||9 hours 37 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! ...
|469||9 hours 40 min ago|
Hey guys, I'm starting a thread for this program since first rounds are supposed to start coming out this week. Has anyone received anything yet? ...
|2||10 hours 6 min ago|
I read amongst UBS group, LF/FS places well for exit opps. How's M&A in UBS in terms of exit opps? ...
|0||10 hours 7 min ago|
Title says it all, which one should I take for IB. Mostly interested in HC, but open to other groups as well. ...
|11||10 hours 28 min ago|
A lot of people are unhappy in their jobs. In fact, 2.8 million Americans quit their jobs every month. I've written extensively about how you should quit your job, and for many people, that advice is all they need. There is, however, one situation where that advice does not suffice. Some people are ...
|1||10 hours 43 min ago|
For those of you not just in AM but also in IB that have been fortunate enough to receive a return offer or have gotten a position somewhere else, what do you plan on doing for the next 5-8 months? I'm ahead on my credits and will only be taking two upper finance courses in the spring (both of which...
|15||10 hours 54 min ago|
Throwaway since this probably would make it too easy to tie me to my real account. Anyways, I'm a 2nd year analyst at a top MM in a super lean industry team (<10 people). It's been made clear to me for a while now that I have the option to stay for a 3rd year if I wanted to (was easily placed to...
|6||10 hours 57 min ago|
Hello everyone, does anyone have experience atRBC "mid-market" M&A or Big4 Corp finance M&A Curious about exit opps and if this closes any doors on working at boutique investment banks in the future. Thank. ...
|2||11 hours 5 min ago|
Hi monkeys, I go to a top target (H/W) and I am currently deciding between 2 SA offers. I am learning towards PJT RSSG due to the highly technical exposure in RX and having the flexibility to switch to L/S HF, PE, distressed HF/PE in the near future. I understand that Bain Cap is already buy-side b...
|16||11 hours 24 min ago|
Hi - First year at a top BB (NYC) here preparing for PE recruitment process. Ideally targeting upper middle MM / MM PE firms; no interest in MF or growth equity. As I begin to think increasingly more about where I want to end up post-banking, geographically speaking, it would be very helpful to rece...
|3||12 hours 18 min ago|
Stats: School: Top 5 state school. (Think business programs at UNC, UVA, Michigan, or Berkeley) Concentration: Business with a second major in economics, minor in computer science. GPA: 3.9+ Extracurricular: Personal investment portfolio/experience. (Option trading, and event driven mostly in devel...
|9||12 hours 50 min ago|
I recently found out that I got into B-school and have decided to sign-up for some BIWS courses to familiarize myself with excel, modeling, and IB recruiting information. I am trying to decide whether I should sign-up for the interview guide or the excel and fundamentals program first. I noticed pe...
|6||13 hours 1 min ago|
The general IB recruiting is really useful but posts about sophomore programs get buried so made a sophomore specific thread. Here are some of the ongoing sophomore diversity/non diversity programs and recruiting for investment banking and other divisions -Wells Fargo -Citi -JP Morgan -Morgan Stanle...
|23||13 hours 35 min ago|
I am Currently a senior at a target school in Canada and interned at a boutique investment bank in Toronto during the summer. I got a few first round interviews for the Big 5 investment banks, but didn't land an offer. It seems like all the banks are done recruiting, and I am panicking. I am not sur...
|3||14 hours 10 min ago|
Hey guys, So real quick I'm a Finance major and Econ minor at a target school, going to be working at an investment bank after graduation. Just wondering, I'm thinking about dropping the econ minor. Do business schools (M7) care if you have a minor or not, or if you double major with regards to appl...
|3||14 hours 16 min ago|
Right now, I'm a senior in high school. I am contemplating between Marquette Business School or UIUC economics (non-business school). UIUC has a better school and is cheaper in general, but I won't be going to the business school. However, at Marquette, I prefer the size,I get to go to the business ...
|2||14 hours 23 min ago|
Just got the email invite to the Wells Fargo sophomore diversity summit in Charlotte, anyone else going? ...
|22||14 hours 47 min ago|
I know front office interviews are taking place now but when do back office interviews start? I've only heard back from Operation positions. But not Audit, Finance, etc. ...
|0||14 hours 53 min ago|
First post here. I'm a senior at a borderline semi-target liberal arts school (top 35 in US News National if that means anything) going through FT IB recruiting. Long story short, OCR at my school is thin, but I managed to get 2 super days with Southern MM banks. I believe I checked all the boxes in...
|18||15 hours 37 min ago|
Hey guys, I have offers from DBL and Lehman for 2017 SA IBD. I've heard great things about both firms but I was hoping I could reach out and hear from some of you guys that are experienced and know a lot about finance. My main concern is which bank has more prestige. I don't really care about anyth...
Cosimo de' Medici
|5||15 hours 42 min ago|
posted a similar article before for a friend who had a goldman offer for the 10 week ibd summer internship starting june 2017 and also had a tier 2 (or tier 3 not really sure what banks fall into what tier tbh.. inbox me if you wanna know the name) full time analyst ibd offer to start july 2017, he ...
|6||15 hours 45 min ago|
My name is  and I am currently a second year student at the University of Warwick studying for an MPhys in physics. After carefully researching your company and its growing position in the market, I am writing to outline my keen interest in the Equity Capital Markets Insights Program at UBS. I ha...
|0||16 hours 10 min ago|
Hey everyone, I have a question on BB lateral hiring that I know some others may be interested in as well. I'm a first-year analyst at a regional MM (STRH, RJ, etc). I'm interested in making the jump to a BB. I'd like to be in an industry group (industrials). Question is, how soon is too soon to beg...
|3||16 hours 18 min ago|
have heard conflicting views on this... for those in the industry going through resume screening.. would you toss the resume altogether? cgpa is 3.4 and 2nd year GPA is 3.8 ...
|1||16 hours 26 min ago|
Delete delete delete delete delete delete delete delete delete delete delete delete delete ...
|11||16 hours 35 min ago|
I had a conversation with a contact at a large (top ten) commercial bank, we mostly spoke about their capital markets roles, but he asked if I'd consider a relationship management role or portfolio manager role. This would be in corporate banking either as a generalist with a geographic footprint or...
|2||17 hours 2 min ago|
What are the top investment banking groups in Toronto and how large are teams? I've heard that Canadian banks generally do better in Canada than globals and that most global offices are generally pretty small and deals are run out of their NY offices. Is this generally true? ...
|3||17 hours 57 min ago|
I recently received an offer from 2nd tier BB SF tech group and was wondering as to how the recruiting landscape looks like for FT positions for 1st Tier banks like GS/MS/Q/JPM. Also, I know people at JPM/Q and will definitely be able to reach out to them for clarifications but wanted to get some a...
|8||18 hours 23 min ago|
Hey guys, I got selected for a first round phone interview for JPM Corporate & Investment Bank Risk Summer Analyst position next Monday. I was just wondering what I should expect for the interview, will it be mostly fit or some technicals as well? I've looked at questions for IB such as valuatio...
|2||18 hours 46 min ago|
What are the typical exit opps for a convertible bonds origination desk (the converts team in ECM) at a BB? I searched and found the common response that they are better than vanilla ECM but not much more that. Any help is appreciated. ...
|3||19 hours 41 min ago|
Anyone else have a first round today? Just wanted to create a thread for everyone that's going through the process ...
|41||19 hours 58 min ago|
I am posting this because this site has been a tremendous help when I was first getting started. In no way do I view my story as special, I actually believe that people from my background are extremely common in my experience, but people on this board seem to think going to a non-target is a death s...
|13||20 hours 54 min ago|
If so, please comment. Curious to see what sophomores are up to. I have a couple friends who did superdays but no luck. ...
|0||21 hours 9 min ago|
Does anyone know of a good resource for the reasons behind key developments in a specific share price? In other words, somewhere I can go back, lets say 3 years, and find out the reason behind certain significant developments (increase or decrease in share price)? Google Finance and Reuters have som...
|0||21 hours 15 min ago|
|2||21 hours 20 min ago|
I interviewed at Duff and Phelps for their corporate finance first analyst role last week and haven't heard back yet, was wondering is there anyone in the same boat? Or has anybody already heard back?? Thanks. ...
|3||21 hours 21 min ago|
Current student at a semi-target in the Midwest hoping to land an internship; just seeking advice to better prepare myself if I get in somwhere. ...
|3||23 hours 8 min ago|
Hi there, I graduated from Yale in 2015 without any background whatsoever in finance. I'll be completing my two-year Teach For America program in June 2017. At that time, I'll be 24 years old without any formal finance training but great interest in banking. Questions I have for y'all: 1. What aven...
|5||23 hours 12 min ago|
Hello! I applied for IBD at JP after taking summer summer classes, I completed summer classes and my GPA was up however couldn't pay the tuition for it so I'm being told that my credits for the summer may not count. I've paid for the fall though. I've also disclosed this and was told to submit updat...
|9||23 hours 12 min ago|
So I heard an associate discussing how somebody should not build in the functionality in an lbo model that would allow the buyer (PE firm) to finance the transaction with the target's cash. Why is that? Don't you have a lot of cases where the market steps in and punishes the co for hoarding too much...
|0||23 hours 16 min ago|
Dear all, I am sorry for the noob question. I am sure they both have it but I can't seem to find it. I need some data on company's own valuation report for my thesis research. Thanks in advance! ...
|0||23 hours 51 min ago|
I've noticed that many firms like MS, JPM, & GS have their own PE/HF/etc. depts. What do you guys think about these roles compared to other FO roles? It seems as though some (eg. GS PIA) usually hire internally from their IBD class, is this normally the case? ...
|14||23 hours 58 min ago|
Roughly how many bankers across all products and sectors do each of the following shops have? This information is surprisingly difficult to find. PJT/BX: Goldman:Evercore:Morgan Stanley:Lazard:J.P. Morgan: Centerview:BAML:Greenhill:Credit Suisse:Moelis:Barclays:Deutsche Bank:Citi:UBS: ...
|1||1 day 1 hour 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? ...
|34||1 day 2 hours ago|
an off topic disussion what are the ways to improve your luck exposures in life................................................................................................ ...
|0||1 day 5 hours ago|
There are tons of reasons to buy or add-on. However, I can't really think of good reasons to sell other than the owners trying to capitalize on the assets, getting out of the business, or that the price is just right... any help is appreciated!! ...
|0||1 day 6 hours ago|
Hi guys, I have a first round with D.A Davidson coming up and was wondering if you guys have any insights on the LA group's industry coverage? ...
|5||1 day 6 hours ago|
Did anyone get an update on this? I got an email about a first-round phone interview with the Markets division. ...
|25||1 day 9 hours ago|
This might be a silly question, but I come from a very non-core school and also have no friends in the industry, so I have no people to reference. Should I bring anything to a superday? As in, copies of resume, work examples, financial calculator, pen & paper, etc. etc. Thanks all ...
|10||1 day 10 hours ago|
Has anyone taken the HSBC online Assessment Test for SA IB yet? I have just taken it last night and wanted to see when I would be able to know if I got put through to the next round. Also has anyone had the phone interview yet? Is it mostly behavioral questions? ...
|5||1 day 10 hours ago|
Has anyone heard anything yet? I know they mentioned we are supposed to hear by this coming Friday. Also another question-- what is the deal with the gift cards they gave us? Do we just keep them and use them up and not submit any reimbursements? ...
|2||1 day 11 hours ago|
Hey guys, So how much does an M7 MBA matter really for getting into a good buyside shop? In terms of life after undergrad, and then maybe a few years in banking/ER (and maybe 2 years in PE, maybe not) a lot of people apply to an MBA, hoping to land at an M7. But really, how much does this matter whe...
|2||1 day 11 hours ago|
What are some of the industry specific multiples for biotech companies? Like a botox manufacturing company. ...
|0||1 day 12 hours ago|
Have a first round interview next week and they asked me to list my office locations, but I'm not really sure. I heard it doesn't vary TOO much between offices, but I feel like since LA is their HQ, it might be best. Any thoughts? ...
|1||1 day 12 hours ago|
Hi guys, I recently got a summer internship offer from GS in the operations division. I have a question about their background check. In my resume, I listed my major GPA under "GPA:...", but not specifies as "Major GPA:...". I assume that they would think the number after GPA on my resume is my cumu...
|3||1 day 12 hours ago|
Post any questions you may have and I'll do my best to answer! There doesn't seem to be much information on this website regarding this niche role so I'd like to just expand on this and hopefully future readers can gain insight on this function. I interned this past summer in Market Risk at a top B...
|41||1 day 13 hours ago|
Would it be better to take a FT offer from a Tier 3 bank in NY (SMBC, SunTrust, BTMU, ING etc) or Big 5 Bank in Canada? ...
|1||1 day 13 hours ago|
This question actually comes up from the M&I guide (Q16 pg 82) but I need some further explanation Question: you sell 10$ of inventory for 20$ revenue - how does this flow through? Answer: IS: NI goes up by 6 CF: +6 from NI, and then +10 from decrease in 10$ in inventory = +16BS: inventory goes ...
|2||1 day 13 hours ago|
Not really sure what model/multiple I should use to value a leasing company,any insight is appreciated :) ...
|2||1 day 13 hours ago|
Does anyone have a "paper" lbo model in excel which assumes constant debt pay-down at EOY? Most that I've seen only model out paying the debt down in the sale year, but I'm trying to find one where interest is accruing from multiple different creditors and the cash generated each year goes to payin...
|0||1 day 15 hours 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. ...
|25||1 day 17 hours ago|
I received an internship offer for JP Morgan's Corporate Analyst Development Program. Instead of a pro-rated salary, I'm being paid hourly and overtime pay which I thought was kinda weird. I was wondering what's the general reputation of the program? If anyone who has done the program: is overtime ...
|0||1 day 19 hours ago|
Hi everyone, I've somehow managed to get invited back to a BB public finance superday. Considering my limited finance experience, what technical questions should I prepare for? They asked a basic bond and interest rates stuff in the first round, and I don't know how much more technical it'll get for...
|6||1 day 19 hours ago|
Had an operation done in first year prior to finals, and ended with a 3.0 that year. In second year I was able to get a ~3.8 and had decent extracurrics and work exp on my resume too. Assuming I get a first round interview, is that a reasonable answer? ...
|8||1 day 19 hours ago|
Hello guys, I am looking for some advice over which program to apply. Would you suggest me to apply to Msc. in Finance or Msc. in Finance&Accounting at Imperial? My goal is to work later in M&A. Looking at the course content i was leaning towards F&A however looking at the employment rec...
|0||1 day 20 hours ago|
Im a hs senior right now and am appling early decision to brown. Does anyone know the recruiting oppurtunities for ib from there and whether its considered a target? ...
|6||1 day 21 hours 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 ...
|52||1 day 22 hours ago|
I heard that there have been some invitations sent out for S&T and CMO, and some rejections sent out for S&T and CMO. What about IBD? Any update? ...
|0||2 days 39 min ago|
I just received an exploding offer from DB (SA). I do not have any other offers at the moment, but have several superdays with other BBs. If I do not want to renegotiate, should I just take this offer? I am extremeley nervous I won't get another offer. I think I would take it any other Summer, ...
|38||2 days 1 hour ago|
Any insight on the timeline for banks in Chicago? Have first rounds and superdays been given out yet? ...
|1||2 days 1 hour ago|
Do you regret not going into another industry? If so, what industry is it? From a curious fellow monkey. ...
|2||2 days 4 hours ago|
Hi, I searched around the forum but felt that the other topics were a bit outdated/sparse. So I have an offer from GS/MS/JPM in San Francisco for banking (non tech) for summer analyst. If I want to end up in New York for full time, how difficult is it to make the geographical switch? Obviously I kno...
|3||2 days 5 hours ago|
Hey everyone! Did anyone hear from Lazard ? if yes, which location? Any superday invites yet? Samridhi ...
|0||2 days 5 hours ago|
Company A has a higher EV/EBITDA than company B, but company B has a higher P/E than company A, what are the possible explanations? ...
|22||2 days 7 hours ago|
Hello friends, Does anybody know when Jefferies NYC starts recruitment for non-core applicants? Also, do they recruit during spring for SA? Thanks! ...
|3||2 days 7 hours ago|
Hello, I have an interview with CMO / capital markets at Citi next week. I was wondering if anyone interviewed with them and have any advice/tips on what it's like. Also, what does capital markets exactly do? I understand the general idea, but since CMO has so many groups within it, I'm having a har...
|1||2 days 7 hours ago|