Difference Between a Good Analyst and a Great One

I think a good summer analyst does enough to get the offer. That means things like triple checking your work for calculation and formatting errors, doing things on time and with a sense of urgency (if required), and having a good attitude.

A great summer analyst is the one who not just does the work but absorbs the material and is able to ask meaningful questions (and follow up questions). For example, we didn't have any great summer analysts last summer. One was pretty good. He came from a non-target but had done an IBD internship at a smaller bank the summer before. You could tell that he had really retained alot of what he had learned because he understand alot of financial concepts. The only problem was that he was very quiet, maybe because he was nervous. But we tended to be a rowdy bunch and you really need to come out of your shell and ask questions (and there is such a thing as stupid questions).

Tough to be a rockstar during the summer. You can't lose, though, if you follow a few pointers, in no particular order:

1) Be proactive and ask people if they need help. Make sure you do it right before you leave at night too, if you're not the last one there. Also, don't let analysts forget about the projects you're working on--if you tell them to go over your work, they say "later", and later comes and they still haven't checked up, stay on them about it without being a total pest. Don't let things fall through the cracks.

2) If you don't understand something, ask for help rather than do something wrong.

3) Submit flawless work product, and try to be quick about it. Don't make mistakes. Always check it one more time than you think it needs. When I first started, an associate told me to always assume something is wrong with whatever you're doing (sounds like a recipe for therapy down the road, i know), and that really helped, actually. We weren't kidding when we told you attention to detail is key.

4) Try to understand not only WHAT you're doing, but WHY you're doing it. Take the time to ask questions and get some context. Then, if you think there's a better way to do something, ask your analyst with whom you're working if they think it's a good idea, but for the sweet love, be humble about it. If you have good ideas that add value (and it will take time, and a few stubbed toes), that will really make your analyst look great, which will in turn reflect upon you. Don't just be a pair of hands and a keyboard--try to be better at whatever you do, each time you do it. This is what separates the simple, reliable analysts from the rockstars. The rockstars are also creative (and usually pretty personable).

5) Don't be a douchebag. Nobody likes arrogant or anti-social summer analysts. Try and get to know your coworkers, but don't be smarmy.

So! Do all that and you should be fine. Sounds easy, right? Lots of fine lines to walk in what i just outlined, but having worked with tons and tons of summer analysts / associates, those qualities seemed to best define the shining stars that I can remember. Good luck!

Indeed summed it up pretty well. I would argue (and along the lines of my original post) that #1-3 is just being a "good summer analyst" and #4-5 are "great summer analyst." There are more intangibles that come with being great summer analyst, but it's difficult to put them into words.

Yeah, agree with GameTheory. Last two points are gravy, and will make you really stand out. First three are the essentials.

Indeed, can you give some examples of how can SA can be creative?

Sure, absolutely. Just today I was working with a summer analyst on a map of the US that showed the major natural gas basins overlayed with where our client company had operations (there were a lot of locations). She had all the data to get it done, as well as a rough sketch by me to guide her. I told her, however, to use her judgement in displaying it in a way that was clear and didn't look busy, or, frankly, crappy. Sure enough, the way that I'd originally suggested looked okay (would've gotten the job done), but she'd also taken the time to re-do the map in a way that looked much better and then worked with the graphics people to make it really professional-looking. I was busy on other things all day, so if she'd plopped down the original idea on my chair and left me to judge it so-so maybe later tonight, then I would've had to tell her to take another crack, which would've been a lot of time wasted. Rather, she took the time to not only do what I told her, but she went above and beyond to make it better without me having to tell her. We got this done in a day, when it could've stretched to two. I was impressed by her proactivity and creativity.

While this is just one example, there are plenty of ways to think critically about what you're doing to try and do above and beyond what's asked of you. That's the point here.

thanks, helpful post

Just a small question. If you are a bit quieter than your peers (not shy, just a bit reserved), would that be a huge detriment to converting the internship into an offer?

Haha I think you're the fucking tool Mark Klein. I am asking a legitimate question, because I want to make the most of my summer experience and maximize my chances of getting a full time offer in a difficult market. I have no idea who the fuck you are, but you can go fuck yourself.

To everyone who replied, I appreciate your responses. Thank you.

This is serious -

A good summer analyst is able to get completely hammered with the analysts in his group on a Thursday night and fit in with the team.

A great summer analyst is able to do the above, and be at least 80% productive the next day.

Mark Klein dropping the ether. Fall back little summer analyst bitch. Get me some coffee and make me a PIB.

The only thing getting dropped is the soap with you in the shower with your associate. Let's see who's getting fucked.

SA with 280 points for posting? I'm sure you're this annoying in your group. Let me know if you get the job. Ass clown

LMAO @ all the unwarranted immature teenage machismo being tossed around in this thread....

anybody notice the cool new WSO layout lol

I seriously don't get what all the hate is about. I'm just here trying to ask a legit question on how to be the best summer I can be, because I don't think that many offers are going out this time around.

I agree that this is one of those stupid ass questions that get asked in info sessions, but this is an anonymous forum, and I wouldn't ask it unless I really wanted to see what people thought.

Seems like everyone is just tense because the axe has been falling and bonuses might not be that great. We're all in this together, so chill out.

Haha you can be like that if you want.

Mark Klein's reaction in this thread is pretty non sequitur.

So you ask stupid questions, even after you analyze them and categorize them as stupid?

I would say if your analyst is like mark klein, maybe you should focus on being yourself, prove to the bank they got the person they wanted to hire. If you bring fluff just to stand out, I think mark klein would grab a bat and beat you with it.

I would say this is the difference:

A good summer analyst will get his work done accurately and on time and ask me the appropriate questions to make sure it gets done correctly. In addition, he or she will act appropriately, get to know us, and have everyone like him/her.

A great summer analyst will go beyond what is expected of him/her and actually make my life easier in ways I wouldn't have expected, as well as take on responsibilities not normally granted to summer interns. Further, he or she does this without screwing anything up in the process.

Example: I give him/her a template to work with and he/she finishes the comps, changes around the template and makes it easier for me to update in the future through some change I hadn't thought of.

Beyond just that, there's also understanding the larger picture - the whole forest vs. trees thing - and understanding not only what you're doing but why you're doing it and the role of banks in the grander scheme of things.

Many summer interns ask me about modeling, pitching, deals, etc. but I wish they would ask me more of the larger questions as well.

http://www.mergersandinquisitions.com/
Mergers & Inquisitions

I meant that it's a stupid question at info sessions because people will just ask for the sake of asking a question (just like 99% of all questions during the Q&A).

But regardless of whether the question was stupid or not, thank you guys for the intelligent responses, they were really helpful.

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I think you'll know when you're a great analyst when directors (Ds, EDs, MDs) invite you to things that do not necessarily add direct value to the firm, but helps YOU become an even better analyst as a whole. This typically means things networking meetings, term sheet calls, presentations by your directors, etc., and other meetings and sessions that you don't really belong in as an analyst. This not only shows that your Ds are willing to have facetime with YOU, but also shows that they respect you as a successful investment and that somewhere along the line, they got the idea that you really want to learn the entire picture and to be a great banker for the firm, not just learn to do comps and make pitches all day.

Anyway, I'm still an SA as well so take my comment with a grain of salt. Somebody mentioned that interns who want to understand the big picture and to ask conceptual questions beyong those relating to his direct work are the truly successful ones. Management recognizes these things and, if they like you, I think they'll actually be more than willing to facilitate your development.