So I am currently in MATS with a big 4 and have been interviewing with I-banks and some small PEs lately. One (not surprising) question I always seem to get is about my experience with financial modeling.
I have a lot of schooling on the subject from my graduate studies and I have done my own research, however, I do not have any tangible "on the job experience" to talk about. Does anyone have any thoughts as to how to spin this to where I am not immediately eliminated from consideration?
Thanks.
Spend your own money on one or two modeling courses, put them on your resume, and create a pitch that uses those modeling skills. Shows initiative and that you want to learn.
Thanks for the reply.
Do you know of any that would be looked at favorably on a resume?
TTS and Wall Street Prep
Shame. Wall Street Prep was just having a crazy-good sale, but it's done now.
I had my WSP class listed in the skills section of my resume. I also built many operating models and DCF's for publicly traded companies in various sectors on nights and weekends. When asked about modeling, I spoke of the skills that I had learned in class, self-study, and WSP; and offered to send them one of my home made models if they were interested.
Do you mind sharing what positions you were interviewing for and what you ended up doing? sailSF
I was interviewing for boutique IB Associate and that's where I ended up.
Implications of a lack of modeling experience? (Originally Posted: 07/24/2014)
At what point does a lack of modeling experience impact your future prospects less? When I talk to higher ups in different sectors I'm interested in lateralling into (corp. dev., ER, etc.) a common theme is a big emphasis on significant modeling experience as a criteria for the job...
It stops impacting your prospects once you get to the level where the analysts/associate under you do all the modelling. It's really not that hard to learn.
This.
Just take a BIWS class and get comfortable with it. Done.
It's the more complex modeling I worry about (i.e. M&A, LBO's, IPO's, general valuation models, etc.).
You should be able to get into an entry level ER position without significant modeling experience, basic modeling knowledge is enough from experience of friends. The ER models I have used are not terribly complex, if you know how to do a basic 3 statement model, you can do ER modeling...same thing fundamentally, just different outputs.
As for the more advanced modeling you reference in addition to Corp. Dev, its really going to be an uphill battle to lateral into the role from Corporate Banking as we are modeling the pay down of acquisition financing, cash flow, etc. for the consolidated entity vs. building the merger model and getting into the weeds..if its what you really want, you should have several good options for lateraling into IBD...CB actually places pretty well into Lev. FIn.
I lateraled into IB from law in my early 30s and completely missed learning modeling. It's not that difficult to pick up later in life, whether reviewing someone else's model or constructing your own. It hasn't impacted my career at all.
How to Spin no modeling experience? (Originally Posted: 04/06/2011)
Hey guys,
I've been getting some hits on my resume as of late, but I have been having a real tough time trying to spin my lack of modeling skills.
I think I have a pretty decent understanding of valuations, financial statements and what not. I can walk through a DCF model and Merger Models (I have built some in my spare time).
I was wondering what your thoughts are.
Thanks
Not a big deal, they should realize modeling is just like anything else in this world and can be learned with practice...maybe take a WSP or tts class to show your interest.
Lateraling with no Modeling Experience (Originally Posted: 09/17/2013)
So I have been working at a small (3bn AUM) Asset Management shop for 3 years now directly out of school. We are long only and my job consists of mostly fundamental equity research for oil / gas names. While I have learned a great deal about valuing the companies and the ins and outs of how the businesses are run, I have no modeling experience in Excel since we use third party software for our valuations.
Since we are a small firm there is a very little room for growth within the company so I am looking for opportunities to lateral into a larger firm, either back over to the sell-side for Equity Research or staying on the buy-side in one of the asset management branches. Unfortunately all of the jobs I am looking at have modeling as an explicit skill they are looking for.
So a few questions ..
1.) Will taking a modeling course at wall st. prep, etc. give me the chops necessary to perform in one of these roles? I would imagine those who have been doing it for two years in an analyst program would have a massive step up on me in that regard.
2.) Is it possible to "go backwards" and enter an analyst program if I'm already 3 years out if school?
3.) If neither option sounds good, any advice? I am currently spending a lot of time networking and asking these same questions to people I know in the business, just wanted to get them out here as well in case any of you had some things to add.
Appreciate it!
Have you taken the CFA yet?
Through Level 2 as of this June, plan to take 3 next June.
so what did you end up doing?
Applying for FT, but no modelling experience? (Originally Posted: 10/12/2010)
Hi,
I am applying for FT positions at the moment and am worried about my CV.
I did my SA, but unfortunately I did no modelling (closest I got was an analyst letting me watch over his shoulder while he explained it), just loads of transaction/trading comps and research. If my CV says "Conducted various financial analyses, including transaction and trading comps", will this be acceptable for FT interviews?
Did you get an offer?
Did you apply already or are you applying now?
those would definitely be bigger concerns than modeling experience
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