How to best prepare for IB M&A internship this summer
So after a lot of networking, preparing, interviewing and waiting I finally got that all important summer internship at a well known private IB. Now what?
I've been browsing the internet gathering tid-bits of info here or there (wso m&i). But what I really want to know is how other people have prepared before their internships. I've been reading Investment Banking: Valuation, LBO, M&A and that has given me a strong perspective of how the system works. I realize the firm I am at is giving me a week long training program before they toss us into the pits, but what else can I do in the mean time that can make the summer a smoother experience and of course help me receive the all important offer.
I myself am not the strongest modeler. I've had limited experience in this area through my undergrad experience, and I would like to build my confidence, although I understand there is a minimal chance I'll be doing any modeling and every bank models differently, but it is an area I feel I am weak in.
I'm just asking for some input besides the "excel excel powerpoint" or "relax" or the sarcastic "good luck." Thanks






Learn up coffee
Learn up coffee
Dealbook Dealbreaker Economis
Dealbook
Dealbreaker
Economist
It could be overkill, but
It could be overkill, but attempt a merger model on macabacus.com and repeat it until you fully understand the many terms and conditions. It's more important to focus on your understanding of the big picture; focus less on your model format and keep doing a basic model until it "clicks". It's overwhelming at first, but the sooner you top the learning curve, the sooner you'll get to (any) modeling work at your internship, the less amount of revisions you'll have to make on a model and the more recognition you'll get from the analyst/associate double-checking your work.
Learning powerpoint/excel tricks actually does help (but only to an extent because the bank is going to have company-specific macros, their unique formats, etc.) so learning how to navigate fast and use shortcuts can cut down time. Don't focus on speed of running through sheets; just be able to learn shortcuts without constantly referencing TTS/WSP shortcut keys.
Also, focus on learning the little parts of powerpoint/excel you don't really know. I would suggest the Wall Street Prep crash course in excel if you have access to it. It's a good overview.
And... just to say it... relax. You'll eventually learn this stuff when you're there so if you have a choice between doing something really fun for a few weeks or sitting in front of a computer screen... don't be a dumbass. Have fun.
The most important part of
The most important part of your internship will not be your performance on financial analysis. It's the attitude you will have. Prepare yourself mentally by reading some of the articles on mergersandinquisitions.com