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I was writing an email to a fellow monkey who is about to start as a banking analyst in the summer. It's been a little over 5 yrs now since I was a wee young first-year analyst in restructuring for one of the Moelis/Houlihan/Evercore type firms (I call them the firms where most people will... 15 things I wish I knew as a first year banking analyst |
This is the reaction any analyst who has ever worked in banking has when you say you want to leave banking for business school then come back as a post b school associate...
<img src="http://epicpinterestfail.com/wp-content/uploads/2012/11/how-i-met-your-mother-barney-why.gif"... Why You DON'T Leave Banking for B School Just to Come Right Back... |
I get a ton of emails and answer a ton of posts asking similar questions so I thought I would answer the most common ones I get here and allow others to post their questions so everyone can see them and the subsequent answers. Hope this helps.
<strong>Summer Analyst... MSF Question and Answer |
Inspired by comments from this: http://www.wallstreetoasis.com/forums/basic-guide-ramping-up-on-a-company-with-public-information-part-1-of-3
Lets just jump in.
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I work as a currency volatility trader and manage one of the bigger G10 blocs in London. I've been lucky enough to get responsibility early in my career. I started off managing a single currency book a few months into the job, and have steadily been granted more responsibility to where I am... Ask Me Anything: I'm a Currency Volatility Trader |
I'm currently a Private Equity Analyst in Shanghai, China. Academically, I graduated from a target school majoring in Economics and Chinese. I also spent my time at college as the president of an on-campus student organization related to Finance and Economics and a volunteer for a local... Ask me anything… I'm a Private Equity Analyst in Shanghai |
<em>Mod note: Best of Bankerella - this was originally posted 10/1/12</em>
I occasionally get PMed by people at colleges I’ve never heard of before, asking if they have a shot at IBD.
Folks, why IBD? The finance world is broad and varied, and there are a million ways to... My Biggest Career Mistake to Date: Prestige |
For better or for worse, there’s a very unique feeling when everything goes completely according to plan yet nobody seems to care or notice. Such is the case with our favorite company of the moment, Tesla Motors. For those unaware, TSLA has rocketed upwards since its Q1 earnings release,... A Perfect Storm |
I work as a long/short equity analyst at a large hedge fund. I've been lucky enough to be more than just a model monkey early on in my career, but have also been exposed to the stress of being measured on returns. I primarily cover consumer and TMT names. I went the typical path (target... I'm a Hedge Fund Analyst - Ask Me Anything |
Fellow Primates,
We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a... WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond) |
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5 hours ...emm... if they get
5 hours ...emm... if they get enough people to interview, they might not need to hire anymore.. haha
I know... WTF is that shit.
I know... WTF is that shit. If I go in there and work my ass off for 5 hours / study insanely for 2 weeks beforehand and then they don't give me a job I think I'd probably shoot myself.
doesnt make sense. i
doesnt make sense.
i interviewed with an re fund with over $30B AUM and i was given a case study that i cracked in like 30 mins.
your headhunter must smoking dope. s/he probably meant that you would be in the office interviewing for 5 hrs, including a modelling test.
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man made the money, money never made the man
word, that's
word, that's comforting...Anyone else?
I would also be prepared to
I would also be prepared to model in a waterfall / promote structure and various debt scenarios. Be able to calculate returns both at the asset and fund level.
I'd say you're correct that you won't be modeling LBOs. However, you will definitely need to have a basic understanding of how promote structures in RE PE work.
5-6 hours seems a bit long.
5-6 hours seems a bit long. The RE mega-fund ($40+ billion) I work at doesn't do modeling tests, although interviews can get very personal (all fit based) or depending on who interviews you, very technical. If I had to imagine what the modeling test might look like, I would say you're most certainly going to have to load-up a past deal. You'll probably get an OM, an ARGUS file, and a set of the firm's standard underwriting assumptions. From there you will have to rebuild the ARGUS file using the firm's assumptions and create a DCF model in Excel (or edit an existing template). Once everything is tied together, they'll definitely have you walk the interviewer(s) through the model.
If you come from an acquisitions background, this whole process shouldn't take you more than an hour for a single office building; no more than 3 hours for a portfolio (3+ properties). Good luck!
Lol. It all sounds good and
Lol. It all sounds good and building the model would clearly not be a major problem except for one thing... I don't have ANY experience with Argus. Any recommendations on some sort of intro training I should do for Argus... Even if it's some sort of expensive training course, I'm not worried about cost only worried about the quality.
I would imagine that this
I would imagine that this firm does other things aside from RE, and that perhaps the other units have a 5 hr modeling test (LBO etc..)... coming from a re acquisitions background, I can't imagine what u would be doing for 5 hours, unless its like an EXCEL Test...
Yeah. The firm is large and
Yeah. The firm is large and has HF as well as LBO practice, hopefully the long-ass modeling test is for one of those and the head hunter is mistaken.
I didn't know what Argus was
I didn't know what Argus was so I went to their web site.... wow. What the fuck is up with their advertisements? That shit is ridiculous, it looks like an Alexay Vaynar video done by a high school AV class.
http://www.argussoftware.com/en/
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Argus is pretty simple once
Argus is pretty simple once you get your hands on it. Pymp, PM me and I will email you some ARGUS materials I have including instruction manuals and test cases.
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I'm currently in a similar
I'm currently in a similar situation to you. After checking out the Argus website, they offer several informational webinars - one of which I sat in on yesterday during lunch. It was a good way to at least become familiar with the program.
If you have DCF experience, looks like a walk in the park
Haha, love the videos. I
Haha, love the videos. I would burst out laughing just thinking about them if I had to rebuild an Argus file in an interview.
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^^ dude stop spamming.
^^ dude stop spamming.