IB training/boot camps/valuation workshops etc
Hi everybody,
there's a number of firms out there, like DealMaven, Training the Street, etc. who offer similar workshops that cover DCF, Comps, valuations, LBO and M&A transactions etc. The price is about the same, I wonder if there's any difference in how they actually teach and the quality of handouts. Does anybody have any experience? TTS is supposed to be good, they are coming to my school but the workshop was impossible to get into so I am considering taking their class off-campus. But DealMaven schedule is better for me so I am debating..
Is it a good idea to put these things on your resume?
Did TTS at school. I put it on my resume under the education section.
Several interviewers commented on that and asked me about it. Then they proceeded to quiz me on the content. Of course, I was prepared for that. It was a positive part of the interview.
TTS is well-known name among the banks and many of them actually use the service for their own training.
Can't speak for the others, as I have no experience with them.
are they kidding..guys if u need this shit to get into banking u dont belong there...u will get training once u get a job...read the vault guide to finance and know basic accounting and DCFs and youll be fine
work hard get your gpa up and network.
I agree TTS price is too steep to go it alone.
I would say if you can't get in through your school don't bother. I agree that the information in TTS is not secret stuff, it's just basic corporate finance, accounting and valuation. What's good about it is they summarize several courses worth of material in a very concise way, that's helpful for interviews.
There are many other resources to prepare for technical questions that cost way less.
The Vault guides are decent, I've got all of them.
$1200/day? I had to idea. That's just wrong.
Actually..
Just checked the site $199 for a full year license.
But I agree in that this info is freely available on the web.
$199 is for the software/self-study stuff.
The $1200 (approx) is for the classes/seminars that you attend in person with live instructors, so-called "open enrollment."
I see. $200 isn't bad for the self study.
TTS is great. They came in for the valuation part of our training program.
Don't go crazy on this part. Most intern programs have a couple of days of training to get everyone up to speed. Full time analysts get a much more comprehensive program. They don't expect you to know how to model coming in.
However, the key stuff you should know is basic valuation theory. How can you value things? (DCF, Comparable Multiples, Transaction Multiples). Spend the $20 and get the vault guide to finance interviews and read up on that. That's ALL you need for interviews. Also, if you have free time, look up some excel shortcuts and practice them. They'll teach you the shortcuts in training, but it does take practice.
Spend your time and $$$ doing well in classes and getting a great GPA. Spend that time practicing your interviews and networking. You do not NEED to take a valuation class in order to get an internship or a job.
Great info.
DealMaven or Training the Street? (Originally Posted: 07/07/2007)
Deal Maven,Level 1 = $99 (Because of school rate) http://dealmaven.com/
Training the Street, Corporate Valuation Models = $199 http://trainingthestreet.com/etraining/course.html
The content looks similar to me - any insight?
Which one has better (if different) content?
Which one is perceived by banks as being better?
-----BTW, I have read the other threads on DM and TTS and they didn't address this question to my satisfaction. I would appreciate any helpful insight you could provide.
Thanks.
I'm using DM right now, it starts off kind of slow but picks up once you past the first part. I would imagine that TTS has more cred since I believe more banks use them.
Are there any large differences between the two concerning content?
I didn't notice any, but then I've never taken any corp. finance so many of the terms are over my head.
I am not absolutely sure, but it seems to me that the courses offered by TTS on their website are absolutely different from the ones they would teach you in the "real world" courses. Even the course you mentioned above, "Training the Street, Corporate Valuation Models" is actually Modules ;) and doesn't seem to do much with model-building (though, it might be good to teach you the valuation basics, I don't know)
Thanks 1gin - that's good to know!
Okay,
So it seems that DealMaven focuses more on applicability (Excel), while TTS focuses more on theory.
I have no background in either.
What would be a better choice for me, and why?
Unless you're going into boutique land, why not just wait until training? It's not much of a resume builder if that's what you were thinking.
DM focues on the financial statements a lot in the beginning so it is good if you have no background. Thats why I said it starts slow, the first couple lessons are just basic financial statement stuff.
ginNtonic,
That is what I was thinking. I am a rising sophomore (just finished frosh year) and I won't be able to take a corp. fin. course until junior year.
I was hoping to have the knowledge for an internship after sophomore year, as well as have it on my resume.
Is it worth it?
Banking isn't my first choice...I'd prefer an internship in S&T - However, I thought something like DM or TTS couldn't hurt.
Suggestion?
According to DealMaven's site, they teach Bear, Citi, Lehman, JP Morgan, Evercore, Rothschild, amongst others. Training-the-Street does Merrill, UBS, Jefferies and a few more I believe. You cannot go wrong either way.
The big thing, to me at least, was that DealMaven offers a 'Certification in Applied Financial Modeling and Analysis' which is more of a tangible indicator of your knowledge base.
Loose example: It's the difference between saying "i studied for the Series 7" and "i passed the Series 7 exam". Deal Maven would be my personaly preference, solely for the certification option.
Hey, it's good to know there is a certification for financial modeling out there. it may be worth getting one. thanks for your comments..
anyone done DealMaven before? (Originally Posted: 08/07/2008)
For someone with relatively little finance background, how many hours does it take to complete the certificate?
i have used it - i think its pretty helpful - i never completed the certificate - more so used it as a reference.
.
Boot Camp - iBanking boot camps? (Originally Posted: 06/11/2007)
I am wondering if anyone has experience and/or thoughts about these ibanking boot camps?
I am a recent law school grad looking solely for banking jobs. I was a math major and at law school I took graduate level finance and accounting classes. I know the basics about valuation and modeling, but I feel like I need something more to get my foot in the door.
Don't do them - you don't need it.
If you're unable to do the self study guides then the invtestment makes sense. The two big ones are TTS and WSP. WSP is a lot more affordable and pretty common today but TTS is an industry standard.
Boot Camp - IB training? (Originally Posted: 05/29/2007)
I was wondering if any had completed the Investment banking training that The Investment Banking Institute offers. It is like $3000, but it seems to give a lot of insight and helpful tools for a successful career in IB.
Are you doing the one in ny?
No I am not doing it. I was curious if anyone had done it...
I just finished my first year of MBA studies at a top 10 school and am currently enrolled in the IB Institute's one month course. I've only had two classes so far, but it has been an excellent experience. I've had a few corporate finance classes in bschool, but school is very much theoretical, whereas my instructor in the course was a former VP at a top bank and he explains the concepts in ways that bankers actually use. I look upon the $2200 as another component of my b-school education that will definitely give me a leg up during fall recruiting.
Which Dealmaven package is best? (Originally Posted: 03/26/2007)
Which Dealmaven package is the most comprehensive/best value for a future analyst looking to do about a month of prep before I head in?
if you already have a job dont waste your time, the bank will train you
Just re-read your corp fin book, vault guides and market news. The above post is correct.
Me and my buddy want to split the cost of Dealmaven but does anyone know if it's possible to both use it at the same time? We'll both be drilling it constantly in May so we don't want to get screwed.
like i said you don't need to do dealmaven if you already have a job, its a waste of your time and money. the learning curve is so steap you will only be giving yourselves a couple weeks advantange over your peers. just enjoy yourself before training starts.
if you are so lame as to not take my advice, the answer is no you cannot both be logged in at the same time.
Deal Maven, Wall Street Prep, etc... (Originally Posted: 06/03/2006)
What is your overal opinion of these programs and certifications?
How are they viewed on the Street?
Should they be highlighted in the resume and interview?
I go to a target school, but won't have learned the necessary valuation techniques by the time I am interviewing for summer analyst positions.
what kind of valuation and other finance knowledge are you expected to have for summer analyst interviews?
should I invest in one of these programs or is there something else I should do?
if you have an undergrad business program, then you are going to need to know some finance (i think vault's guide to ibanking interviews should suffice). Most of the questions will just be like "how does a rise in XXX, affect the 3 financial statements?"
If you don't have undergrad business, then your interviews (if you play them right) will be entirely about fit.
Investment Banking Boot Camps (Originally Posted: 11/24/2010)
In the resume forum, I've noticed an influx of students participating in IB "Boot Camps": 40 hour deals where they teach you IB related things.
Is this type of thing necessarily good for a resume, or just considered fluff by banks? I mean, it can't be a bad thing, I don't know if I'd to putting it on my resume, though.. (but then again, what do I know)
What are some good ones in NYC?
I believe the "Boot Camps" is a kind of promation, but not an certification.
I've seen people have the "swiss academy of finance" thing on their resume too. That's maybe at least worth listing... though junior bankers may think you're a douche bag for paying like 10 grand to go to iBanking summer camp... at least you'll know some basics....
You do not need to do a bootcamp to get into i-banking.
It's hardly a "make or break". I've also heard of interviewers sometimes grilling candidates harder on technicals if they have it listed.
I can maybe see it being valuable on a resume if you list it to be helpful in your "acquiring of fundamental investment banking knowledge" rather than listing a wide range of niche topics that you covered or claim to know in-depth. IE if you're an Economics major instead of a target major.
Training the Street - Experiences? (Originally Posted: 11/06/2013)
I have the opportunity to take a Training the Street class specifically on modeling for Investment Management at a discounted rate. For somebody looking to make a career switch into AM would this be beneficial? My previous job Excel work was basically making charts and tracking budgets so I feel like the class would likely be helpful even if it just teaches me to use excel more efficiently. I know WSO has some deals with Wall Street Prep but I feel like I've seen Training the Street mentioned favorably elsewhere on the forum. Anybody have experience with them and their classes?
It's decent for the price, especially at a discount. The training that TTS gives incoming associates and analysts is pretty weak compared to AMT and a few other competitors, but if they are giving it to you at a discount it is worth it.
Depends on the discount. 5%? No. 50% why not.
DealMaven vs Training The Street Online Courses (Originally Posted: 04/30/2007)
I'm a sophomore, and failed to land any type of i-banking or corporate finance SA position. To make something productive of my summer, I'm planning on taking either the Deal Maven Applied Financial Modeling e-course or the Training The Street Corporate Valuation Training. Does anyone have any experience with either of these programs? Also, would these carry enough weight in an interview or on my resume to make it worth my time? Thanks.
I received an email from dealmaven with a discount offer. PM me if interested.
Learning the concepts should make it worth your time. All people care about is the resume, god forbid you actually learn something.
I'm doing it to learn about financial modeling. I was asking if the course was recognized as a meaningful learning tool by recruiters. Having these skills and not being able to ever use them would be a waste, wouldn't you say?
I beleive they have a client list on the DealMaven Website. Apparently some BB use it to train their analysts, so I would guess it's pretty recognized.
Do both. They certainly won't take the whole summer, though. TTS is about a 5 hour time commitment, and DealMaven is around 30-40.
Think about reading Damodaran's Applied Corporate Finance.
Most BBs use training the street. Damodaran also had some great books out and a resourceful website.
About "Training the street" (Originally Posted: 08/28/2008)
Has anyone taken the courses of "Training the street", especially the corporate valuation modules? Will one benefit a lot from those courses if he has passed the Level-2 of CFA? Thanks.
Training street covers a different scope of knowledge than the CFA.
level 2 CFA is more in depth, especially FCFE valuation. CFA focuses heavily on multiples whereas TTS is a walk in the park.
Thanks a lot! I wonder whether TTS will cover issues related to real work of banking analysts. I find level 2 CFA is a little bit away from the real world, say, FCFE valuation is not so widely used.
I am in a TTS course right now. I would say that their valuation approach is pretty heavy on multiples, as mentioned.
It's a really solid course. As far as benefit from your perspective? I think perhaps the modeling skills will be beneficial.
I always find it helpful too see how another mind goes about solving the same problem.
If your employer is hefting the tab, glean as much as you can from it!
TTS mainly helped me become an Excel shortcut master. I nearly made it to their top-50 quickest list for the formatting exercise!
Financial and Valuation Modeling Boot Camp (Originally Posted: 12/03/2012)
Has anyone done the in-person, 3 day bootcamp? If you have, how well did this program prepare you for Full Time?
I am thinking about either doing that or the BIWS Premium Package (Fundamentals + Advanced) before beginning my full time role in July and wanted to get some feedback.
Not sure if you are referring to the Wall Street Prep IB Bootcamps, just wanted to make sure you know you get 35% off for those if you are still a student and sign up with a .edu address through WSO (can just click name "Wall Street Prep" to access it - discount should be applied at checkout)
Best of luck and congrats on the offer! Patrick
Patrick - Thanks for the congrats. I am referring to the WSP Bootcamps.
I will definitely use the discount if I decide to go.
I did both - and both experiences were very solid. It ultimately comes down to your style of learning.
Personally, I liked my experience with BIWS a bit more since I could learn things at my pace. That being said, when you sign of for WSP's boot camp you also have access to their web modules. They're fine, but I didn't find them as engaging as BIWS. I also found BIWS's explanations about certain financial concepts more clear and intuitive.
If I'm not mistaken, I think BIWS hiked up their prices a few months ago, but the Premium Package is still considerably cheaper than the WSP bootcamp.
Again, it comes down to learning style, but if you're fine absorbing the material either way, I would go with BIWS.
esbanker - Thanks for the informative reply. I will definitely use this to help my decision.
TTS, Deal Maven, analyst exchange, or wallstreetprep (Originally Posted: 05/06/2007)
Hi, major cpa accounting/finance, nyu stern.
I'm wondering what is the best (and cheapest) program to go through. I have good textbook knowledge but very little modeling experience (save the infrequent projects) and an unrelated internship.
I've heard that TTS is used by BB. which ones?
thanks very much.
http://w4.stern.nyu.edu/emplibrary/ACFZMLvHg.pdf
Why don't you take M&A (C15.0050) at your school instead? What have you taken/will take at Stern?
I'm completly done with the finance curriculum but have a few CPA accounting cources left along with the M&A course.
However, I would like to complete one of these financial modeling modules first.
i'm debating whether to get Dealmaven, Training the Street, or WallStreetprep.
So on your resume, what classes do you list? (asked differently, what finance classes have you gone through?)
I took TTS - Valuation as part of training for SEO. I was promoting SEO-U a couple of weeks ago which provides Dealmaven training for its participants.
TTS was great review, I hadn't covered Merger Consequences Analysis or Leveraged Buyouts, but everything else I've learned at Stanford GSB. I'm sure the course offerings are pretty similar at Stern.
(PS: If anyone who reads this is at Stanford, take Finance 335 and Finance 324, they are some of the best classes I've taken)
financial markets/corp fin/finc. management/risk management/international financial management/investment banking.
How long is the $200 online TTS? How many hours is that and dealmaven?
bump
It depends on what you're looking for: WallStreetPrep and DealMaven have good take home programs. The Analyst Exchange is very thorough, probably the most detailed, but a bit more expensive, but cheaper than a TTS seminar, which is just a review. That's the results of my research so far!
No one has mentioned the FACTSET Financial Modeling Program?
how about leverage academy? I have heard good things about it.
From training I know that both MS and CS use TTS if that helps.
I-Bank training (TTS, IB institute, WS Prep) (Originally Posted: 03/22/2007)
Does anyone have an opinion on or has anyone been through any of the IB training courses? The ones that I know of are IB institute (ibtraining.com), wall street prep, teach the street, and deal maven...
we brought Wall Street Prep to campus. was $200 per person for 40 people. Basically a good intro to what you would so as an analyst, but i really didn't take too much away from it. Our club pro-rated it, and my portion was $25, which was arguably not worth it. overall WS prep no go imo.
thanks for the feedback, anyone else have any experiences?
I felt DealMaven was worth it. Friends that went through the TTS training sessions at banks had very good things to say about the course.
TTS was great. Never met anyone who went through it that had bad things to say. Would be interested to see if anyone had a negative experience with TTS and better elsewhere.
Do the BB's use TTS to train summer or full-time analysts?
depends on the bb
Would training courses be something you put on your resume?
Yea under activities or skills
All good. WSP and Dealmaven tied for #1. IBI #2, it is a little high level.
TTS is used by the majority of BB's to train. I don't think any of the other firms have much traction training BB analyst classes.
BIWS
BIGH
BKPP
I've sat in for a few IB Institute classes before w/ Ashish Kohli. He was very good - conducts an interesting class, brings in real world examples - big picture concepts, tries to get the entire class involved. He also offered to help a lot of the students do one on one resume edits and answers any questions via email or after class.
That said, I do agree with Jerome123 that IBI is a bit high level for the analyst-level. Those who had some initial understanding of valuations and general financial modeling concepts benefited. But people w/o any prior knowledge were kind of lost.
Tried 2 classes of WSP - I didn't really like it. Thought they rushed through the material and didn't explain it well. However, this was like 4 yrs ago, they could have changed things since.
A number of banks use TTS, dunno if mine did/does (I was S&T), but heard nothing but good things.
Good post Kanon!
DealMaven - Any thoughts? (Originally Posted: 03/19/2007)
Hey guys, I'm thinking of taking the DealMaven course over the summer ,any thoughts? Good? Bad? A better alternative?
care to share what it's about?
Good. A little simplistic and redundant if you're a finance undergrad major. If you have the $, pay a little more for Training the Street's on-line program.
This ^^^ is incorrect.
TTS online costs $200 whereas DealMaven costs up to $800
TTS Online is composed of 5 applied corporate finance interactive learning modules. They are the same thing that is used by the BBs, but instead of ~15 there are 5. (Think ML University)
DealMaven teaches you how to build a basic, or as one banker I know put it, "cute," financial model.
They are in no way substitutes.
I have taken both, and would suggest purchasing both. If you have to go with one, take DealMaven.
For DealMaven, it doesn't take very long to complete it, so get the three month version.
Aspiringmonkey - email the DealMaven people and ask for their Student Pricing Package (university e-mail address required). There is a ONE MONTH subscription available for $70, and if you are diligent you can easily finish each of the two modules in a month. Not $800, $70, and if you paid anywhere close to $800 you are a fool. I have also taken both, paid $199 for TTS, $140 for two months of DealMaven (don't pay the extra $ for the certificate, IMO)
I agree they aren't substitutes, as TTS actually teaches corporate finance, whereas DealMaven is basically an Excel tutorial with a little financial modeling sprinkled in, but does teach some useful shortcuts and Excel nuances for the uninitiated.
IMO?
IMO = in my opinion
I didn't pay anything - my employer paid for me to take it at the discounted rate. Considering that the program will be passed down to interns for years to come, they opted for the lifetime plan.
To elaborate, I took DealMaven first, then TTS. THE ONLY THING THAT TTS TAUGHT ME THAT I DIDN'T LEARN FROM DEALMAVEN WAS LTM. I did the first module in a week, including the model.
Ultimately, if you have to choose one, it really depends on what you are using it for. If it is prep for a summer internship, buy DealMaven. If you want to leverage it in interviews, buy TTS.
One other thing... I bought TTS right after it came out and they messed up on the billing. I took all the courses before they found the error, so it was essentially free.
This won't happen for you, but you should find an alumni that is willing to give you a password to their ML University (I'm sure other banks have this, ML is just the one I got access to), which is the same thing with about 3x as many modules.
i took DealMaven earlier this semester just to give me a rough idea what modelling was all about. I enjoyed it but it wasn't something that deserved the unnecessary hype it gets. I'm interning at a BB and we have a one week training period which i hope to reinforce all the things i learnt. In the mean time, i'm currently using Training the Street which i got free access and its far advanced than the maven
You're currently using TTS? It takes maximum 5 hours to do... (30-60min per training session, but usually closer to 30)
How is WallStreetPrep compared to Dealmaven regarding prep for a summer internship?
i think their about the same. I haven't used WallStreetPrep but i heard it's pretty similar to dealmaven. go with the one month package for 49.99 and see if you enjoy it http://www.dealmaven.com/studentkb
Here:
http://wallstreetprep.blog.ca/
Take 15% off the Basic or Premium Package with my Program Referral Code.
Good Luck!
Finance and Modeling Bootcamps / Executive Education (Originally Posted: 12/01/2015)
Recently got clearance to find a 1 - 2 week finance bootcamp / executive education class to take in 2016 and wanted to poll this forum to source potential options. Ideally, looking for something with a respectable name (Wharton, Chicago, Stanford, Harvard, INSEAD, Investment Banking Institute?) that will provide a good learning and networking opportunity.
For context, currently working as a Corporate Strategy Manager with an MBB background but don't have an MBA so all my finance knowledge has been picked up on the fly. Future career path could be Corp Strat/Corp Dev/MBB or potentially boutique IB/PE/VC.
Any ideas?
If you decide to visit the UK, you may consider: 1. https://www.london.edu/education-and-development/executive-education/to… 2. http://www.lse.ac.uk/study/summerSchools/executiveSummerSchool/courseDe…
Investment Bank Workshops, Programs, Bootcamps, etc. (Originally Posted: 10/05/2011)
Let's compile a list of workshops, programs, bootcamps, etc. (including diversity initiatives) offered by various investment banks. I'll continue to update this post with new programs as they're posted.
-Goldman Sachs Undergraduate Camp (3-day freshman bootcamp geared towards minorities) -JP Morgan Launching Leaders (sophomore internship and scholarship geared towards minorities)
Energy Rodeo Leaders in Investment Banking Marquee Group
Thanks for sharing Goldman Sachs Undergraduate Camp. This event is open to Black, Hispanic, and Native American students from all majors and disciplines and is best suited for rising sophomores. The three-day program offers an introduction to the firm’s business, history and culture and features presentations, workshops and networking opportunities.
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