Wall Street Prep vs Breaking into Wallstreet?

Wall Street PrepWSP
Breaking into Wallstreet = BiW

Hello all, I've seen all the material in BiW through a friend, and while explained well, seems too basic to me. For WSP, I saw their demo videos and everything there looks very professional (formatting / instructors / presentation of material etc). I was wondering which one would you recommend from your experience?

A little background on me. I am from the UK and have done a long term internship (9 months) at a VC and a summer internship at a boutique M&A house. Although these places have been very good in-terms of developing interpersonal skills etc, but as I have been involved with small companies, I haven't been able to experience hardcore modelling / understanding balance sheets etc in any of these roles. I am taking up an offer in Audit with a Big4 this year but will keep applying alongside and I am afraid that given my background, the questions will be very technical. So which package would you guys recommend?

Cheers!

WSO Admin note 1: WSO announces financial modeling and valuation courses

WSO Admin note 2: Breaking into Wall Street vs Wall Street Oasis

 

NEW WSO Financial Modeling & Valuation courses are here.  Read more about the announcement here.  We take online financial modeling courses to the next level with top instructor teams from elite firms delivering a world-class curriculum across Excel, financial statement modeling, valuation, M&A, LBO modeling and more.  See all of our courses here.

 

WSP takes some pretty serious effort to get through, at least I think. It teaches more thorough formatting but that's the only advantage, and I don't think it's a huge deal unless you need to create professional-ready models.

 

I don't like any of them to be honest....

WSP: They do not explain users why they are doing this or that. They have a bunch of screenshots just telling you to put this formula in or link this cell to that cell, but don't explain the concepts behind it. However, they've got some decent models and with some advanced topics on it. But I would just recommend it to someone that already has the technical knowledge and just lacks some modeling practice.

BIW: Way too basic in my opinion. Despite Brian's comments on adding new content, it is still well under its competitors. And he has said that for months, by the way. Yes, it does have more interaction than WSP's program, but for that I would recommend Wall St. Training - they also teach using videos and with a strong focus on explaining the "Why's", which is great!

To sum up, I personally like Wall St. Training. It is a bit pricey, but it is worth it!

 
lui:
I don't like any of them to be honest....

WSP: They do not explain users why they are doing this or that. They have a bunch of screenshots just telling you to put this formula in or link this cell to that cell, but don't explain the concepts behind it. However, they've got some decent models and with some advanced topics on it. But I would just recommend it to someone that already has the technical knowledge and just lacks some modeling practice.

BIW: Way too basic in my opinion. Despite Brian's comments on adding new content, it is still well under its competitors. And he has said that for months, by the way. Yes, it does have more interaction than WSP's program, but for that I would recommend Wall St. Training - they also teach using videos and with a strong focus on explaining the "Why's", which is great!

To sum up, I personally like Wall St. Training. It is a bit pricey, but it is worth it!

I don't know if this was before the advanced module, but I'm curios anyways. What exactly do you find too basic about it? I've only done the Excel course there, but I found that to be pretty helpful already and even though it's not part of the actual financial modeling course, I learnt a lot about when to use different functions in Excel. As for the very advanced stuff, I don't think you really need a video course to demonstrate it, as it becomes more about theory and understanding the thought behind things and how they work. No need for a practical demonstration, compared to something like basic accounting.

I don't know what Wall St. Training is like, but I've been very happy with the Excel course and Brian seems to respond to all comments on the site. I guess it depends what you're looking for in a video course anyways, but if it's just a guy talking about advanced financial theory to a still screenshot of Excel, I'd much rather read a book. Although I do think it would be appropriate to recommend books and other learning materials on financial theory.

 
pistacie:
lui:
I don't like any of them to be honest....

WSP: They do not explain users why they are doing this or that. They have a bunch of screenshots just telling you to put this formula in or link this cell to that cell, but don't explain the concepts behind it. However, they've got some decent models and with some advanced topics on it. But I would just recommend it to someone that already has the technical knowledge and just lacks some modeling practice.

BIW: Way too basic in my opinion. Despite Brian's comments on adding new content, it is still well under its competitors. And he has said that for months, by the way. Yes, it does have more interaction than WSP's program, but for that I would recommend Wall St. Training - they also teach using videos and with a strong focus on explaining the "Why's", which is great!

To sum up, I personally like Wall St. Training. It is a bit pricey, but it is worth it!

I don't know if this was before the advanced module, but I'm curios anyways. What exactly do you find too basic about it? I've only done the Excel course there, but I found that to be pretty helpful already and even though it's not part of the actual financial modeling course, I learnt a lot about when to use different functions in Excel. As for the very advanced stuff, I don't think you really need a video course to demonstrate it, as it becomes more about theory and understanding the thought behind things and how they work. No need for a practical demonstration, compared to something like basic accounting.

I don't know what Wall St. Training is like, but I've been very happy with the Excel course and Brian seems to respond to all comments on the site. I guess it depends what you're looking for in a video course anyways, but if it's just a guy talking about advanced financial theory to a still screenshot of Excel, I'd much rather read a book. Although I do think it would be appropriate to recommend books and other learning materials on financial theory.

So, there is a basic Excel course that comes along with it?

 

Also, I personally think audit is analytical, but I know a LOT of people that think it's mindless and robotic.

For them, not "any experience is good experience". These people will look down on assurance, and TBH from what I've seen the audit -> IB path is quite rare.

I would say to revisit if you can get more applicable experience for IB during that time instead.

 

Hi Guys, I am looking for a good financial modeling course and have zeroed in on Breaking Into Wall Street and Wall Street Prep. I have good knowledge about financial statements, but basic understanding about valuations. I am looking for a course, which offers me knowledge about financial modeling from scratch (assuming I have no prior experience) as well as teach me exactly how this is applicable in the real world. Given this, can anyone suggest which course is better and more recognized in the market?

 

I took a couple of wall st. prep course's and my teachers said when it comes down to it there about the same. Just the price is what matters for what your being taught. Because some are money than others and your learning the same material. Hope this helps.

 
fderango:
I took a couple of wall st. prep course's and my teachers said when it comes down to it there about the same. Just the price is what matters for what your being taught. Because some are money than others and your learning the same material. Hope this helps.

so M&I BIWS and WSP cover the same material? does that mean that it will be redundant to study WSP if I finish BIWS?

 

From what i was told what your being taught from all these different courses the material how it's presented might be different and as well as the price but like I said before I was told the hard material itself is the same. I was able to take a few such lbo/pe and val/dc for cheap because my school work somthing out with wall st. prep. The teachers both work on wall st.. So I'm going by what they told me and what they did in there everyday job routine. Let me know what you think.

WSO is partners with WallStreetPrep, as a WSO member you get a 15% discount. That's all I've got, sorry

"You stop being an asshole when it sucks to be you." -IlliniProgrammer "Your grammar made me wish I'd been aborted." -happypantsmcgee
 

WSP is great to get started - but I think some of their models (i.e. lbo model) are too complex... not in the sense that it's super advance, but there's just easier/more clear ways to do the same thing... can't comment on BIWS, but I would still recommend WSP.

 

I agree with James. I did the WSP in-class thing at my school and, while it was good and clear, the models were clunky and prone to crashes.

The instructors are great, though. I am scheduling them again for this upcoming year for our school.

The $200 I paid for the in-class program was worth it just for the friggin' Excel tutorial every class. I'm about 30x faster in Excel now.

 

BIWS is really good - gives you videos and a number of PE models, along with Brian explaining finer points for PE recruiting (re: what questions they like to ask and how to answer them, and what simplifying assumptions you can or should make if given a case exam)

migs: Even if you're already in IB, these courses save time by going through easy to follow and well laid out models or just refreshing oneself on concepts vs. going to a firm's past deal models and trying to figure it out. A lot of times models done for clients are overly or unnecessarily complex (because a lot of random bells and whistles are added per clients' requests), so it's a pain to go through those for interview purposes.

 

If you're planning on using BIWS for interview prep I would advise against it. I used BIWS thinking it would help with interviewing but it's very overkill for what you need to know even for full-time interviews coming out of a good SA program. With the M&I guide it'll be more than what you need to know for the interviews.

Of course if you're getting BIWS as prep for an analyst stint, I highly recommend it. Brian goes through all the models step-by-step and you'll be able to understand it front to back. I went through the advanced DCF / Merger Model before my interviews and I was able to talk about the theory behind each step with no problems during my interviews if I was asked about it.

 

BIWS is thorough to the point of where it gets a little too granular for internship and even full time recruiting. If you want to know how to do DCF, LBO, Merger Model from the ground up AND understand the intuition behind it I highly recommend BIWS.

For full time recruiting I only went through the DCF and Accounting portion of the program and during my interviews I was not once stumped by any of the basic / advanced questions I was asked. In fact, I answered one of my accounting interview questions so clearly my interviewer told me to thank my professor for doing a great job.

I would also like to add a little something in regards to customer service. I bought BIWS a week before they had a promotion for their interview guide and was a bit disappointed I missed out. So I e-mailed Brian to see if I could get the promotional benefit as well and he responded within a few hours and granted me the promotion.

 
Best Response

I figured I would share our thoughts on the differences between our programs.

On price: Through WSO, you get 15% off, putting the WSP package at $425 (vs $497 for BIWS).

On substance, one major difference is that while both BIWS and Wall Street Prep have good reputations with the students that take the self-study, Wall Street Prep is retained by investment banks to train their analysts and associates, while BIWS is not. The program you would be received is self study version of the program investment banks use to train their analysts and associates.

In addition, we are hired by the top universities globally including Columbia Business School, Cornell, Wharton, London Business School, Kellogg, MIT to prepare their MBAs and undergrads.

Ultimately, both programs strive to teach the same modeling methodologies. Wall Street Prep's program is an integrated training platform where we try to mimic the experience of being in a classroom. You gain access to a collection of videos that guide you through the model building exercises, while physical manuals allow you to press the pause button on the videos and think through steps - similar to the process of being in lecture, followed by working through a guidebook to complete exercises.

Lastly, you can take a look at a thorough comparison chart done by WSO's founder right here: //www.wallstreetoasis.com/financial-modeling-training (and get 15% off)

Matan Feldman Founder, Wall Street Prep Learn Financial Modeling
 

I've done two 3-day Wall Street Prep courses in the last 3 years. Once was in college and once was after 6 months into my Analyst stint.

I bought BIWS last year to help me as I transitioned to a new firm working on different types of deals.

I really like the BIWS website interface and training much more and would really recommend it. WSP is fine and the books are solid, but personally I liked the BIWS videos, presentation and teaching format much more.

However, I've never worked on FIG specific models so discount the above how you want.

"If you want to succeed in this life, you need to understand that duty comes before rights and that responsibility precedes opportunity."
 

Hey zeroblued. Actually, I am going to hit both private equity and consulting - NOT IB analyst positions. My background is in Engineering and patent law. I don't have much of a finance background, but I do have a strong stats background (b/c of engineering degrees).

 

Currently doing the WSP premium package, but no real experience with BIWS. There is a pretty good amount of theory covered for all topics (although basic accounting knowledge is assumed). As for it being mechanical, it is a self study program that takes you step-by-step through all the models and applying all the concepts. So really you can do the various models at your own pace and if you make a mistake and can't identify it, you can take a look at how the program did it and really just use the WSP models as guides.

You should also consider the factor of BIWS being primarily video-based (as far as I know), whilst WSP will send you all the materials in print and all the excel materials on a CD (online videos are also available but are not too useful). So it also depends on your preference as to how you learn best.

You should keep in mind though that overly emphasizing any training programs or certifications in an interview or on a resume is basically asking to get grilled on technicals. Best of luck, I hope whichever option you choose works out for you!

 

I always speak very, very highly of the BIWS program when asked. I'm about finished with my BB analyst gig now and have done AMT and TTS training as well as a part of that. I took BIWS while in college while it was still exclusively video-based, as CorpFinHopeful mentioned, and that was the best for me. However, they just sent an email saying they also added transcripts for all the courses too if that's your thing. Can't speak to Wall Street Prep as that's just about the only one I haven't done, but I'm sure it's excellent as well.

Hope that's helpful.

 

Not entirely sure why you think this warrants a new thread as it has been covered pretty in depth. Over the course of 6+ years I have done WSP, BIWS, and TTS. I would give a slight edge to BIWS primarily because I enjoyed watching the videos more than I enjoyed reading through the WSP book. With that said, the WSP book is very thorough and each page helps walk you through step by step. I think all 3 programs have solid name recognition and offer comparable quality. Remember, this stuff isn't rocket science. You can check all 3 websites to see exactly which banks and universities use which program.

Bottom line: if you spend the time to complete any one of the programs you will have an edge during recruiting/interviews and it will give you a head start come training. These training programs are all very helpful but don't stress as you will learn what you need to know during training and on the job. No one expects you to be a ninja coming out of undergrad. Best of luck to you.

 

I'm interested in this as well.

How long do each package take? Anyone?

I am edging towards BIWS, but does anyone know how long BIWS take to learn roughly?

 

I'm an incoming SA at an EB and we're required to do a few Wall Street Prep courses for pre-training. Haven't really around to it yet, but the fact that a bank would pay for that program for their SA's must speak to the effectiveness of the program.

 

I have experience with the WSP package, and in my opinion it is quality stuff. Also, you get 100 dollars off the listed price if you are a WSO member which you should factor into the equation. Apart from this, from what I have experienced and from what other users have said, it really depends on how you would prefer to learn. The content and quality levels of the two options are pretty much on par with each other, BIWS just has superior video content and WSP has better print/written content. So if you want basically a text book with some excel templates on a CD, take WSP, if you want to learn via videos, take BIWS. Best of luck, whichever package you end up choosing!

 

Tough to say as most people obviously only choose one and cant comment on the other. I bought WSP 4-5 months ago and think it is OK. Walks you step by step modeling DCF and has a ton of content, but the videos are more of a walkthrough step by step instruction as opposed to actually teaching you the information to retain it. Have not experience with or heard of anything about BIWS- however it seemed that WSP is a bit better known brand wise on the street which was a large part in my decision to go with WSP

Recent College Graduate
 

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