Summer Analyst Work Flow

two of my friends work at seperate ibanking boutiques and they both have said all theyve been doing is PowerPoint/pitch book presentations and 50 hour weeks

working at a restructuring boutique. lots of valuation (comps), pitch books, due diligence...3 live deals...85+ hour weeks.

Rising Junior at a boutique. Pitch Books, Industry Research etc. Built a consolidated projections model linking the three statements. Basic M&A comps (from Capital IQ). Other than that, I have been playing around with models from some of the past deals.

Rising junior in DCM...running some analyses on Excel, making PowerPoint slides, writing daily market commentaries, odd jobs researching stuff on the net...about 65 hour weeks.

Bulge Bracket IBD. A lot of market due diligence, some pitchbook, analysis on Excel, going over deal sheets/structures, deal flow not really a problem (3-4 deals going on at the same time), little modelling from scratch. 75 hours/week on average.

Ok, so are we supposed to know how to build a complicated model (ie. distressed company with multiple subs generating irregular cashflows albeit on different time lines) by the end of the summer? I've been looking at models to familiarize myself with everything, but I was never asked by my analyst to actually build one from scratch. Who would trust a SA anyway?

Can any past SAs comment on whether they actually modelled during their summers? Or did you all do stuff like what we mentioned in this thread?

Interesting. I've been averaging 95 since i've been here at a bulge bracket. tons of pitching and modeling going on still. not many new clients though, mainly the biggest clients we keep advising though. tasks are standard- ppt, excel, and pulling research.

MM IBD - doing about 80-90hrs - mostly odd valuation project projects, and began to learn some M&A modeling this week. Staying busy with M&A stuff as all equity stuff is on hold. I've been lucky though since some interns have been doing only PIBs, comps, profiles and pitches since they started.

when you guys say you're "modeling" - are you helping out an analyst while their building a model or something?

one of the "elite" boutiques that gets tossed around on here

1st week(out by midnight): getting up to speed on legal stuff(for restructuring) related to my first live deal I got staffed on.

2nd week(out by 2): got staffed on second live deal. Doing power points for most of the week for client and committee presentations

3rd week(same as 2nd except one day where I pulled an all-nighter): First modeling work. Performing a variance analysis and also doing comps

Spreading comps isn't exactly "building a financial model" in the least bit.

80 hours a week. Mostly creating powerpoints, market updates, some basic financial modeling. the work is good but sometimes it can get boring. My bosses know how to party so they took us all out for clubbing and drinks etc.

How long does it usually take for a SA to finish a set of comps?

Also, could anyone elaborate what's contained in the presentations, or better yet, have an example they found/made. Thanks.

the var. analysis and comps i mentioned were in addition to actual modeling

how long does it take to finish comps? Very quick I'd say, less than an hour if you're doing standard comps.

Presentations: Varies too much based on what's needed at the moment. I doubt anyone would give you an example as that would probably violate security policies or something.

any of you guys getting work from two or three different people at the same time with the same deadlines?

the story of my entire week

it happened to me as well this week and what's worse is that I didn't manage to make the deadlines for any of the work, had to push it by about an hour or two.

it's worse when they retroactively change the deadlines they gave you.

Rising junior interning in FSLF of a BB IBD. I'm cross-employed in 2 groups so I receive assignments from both teams.

I've done pitches, valuations, presentations, term sheets, and shitloads of LBO modeling.

I have been hearing so much from IBD SAs and you guys are doing a good job. What about other SAs in other divisions such as S&A and ER and other interns who are interning at HFs.

I know from an interview experience with HF that SAs will be individually teamed up with portfolio mangers, but what exactly do they do besides ordering lunch and coffee?

Hedge funds is too diverse a category to describe a cohesive set of experiences. My friend is a rising senior nat. gas trading intern for a HF.

His day:

Get in at 5 AM, get out at 2-ish after the pipelines have closed or something(whatever that means).

He goes drinking with his MD's(All ex-Enron, Goldman, or Tiger guys) pretty regularly and got utterly hammered last night. He also claims he saw his boss beat up a homeless person yesterday night. That's a pretty interesting internship dont you think?

wow i bet he really showed that homeless guy. Way to put him in his place!

that guy sounds like the biggest douche on earth.

The learning curve's plateaued for me-I think I'm going to call it quits at the end of this month.

another story from him:

at the welcoming dinner for him at a nice restaurant, one of the MD's asked the waittress if he could lick her neck. He also crashed his boss's range rover.

Rising junior interning at a HF. Generally been getting in at 745. Go over yesterday's trades. Run through Reuters and shoot an email out with any new/SEC filings on our portfolio. Go over broker research, listen in on conference calls, meet with management. Usually out by 530-6pm. Overall pretty good experience and hopefully will help me leverage into institutional sales next summer.

Ha, that reminds me...

My dad was out for dinner at one of the more expensive restaurants in Montreal with a very, very good corporate lawyer with whom we are family friends...

When the waiter brought the lawyer his pasta, he looked at the waiter and said: "This pasta smells like dirty cunt."

You put ex-enron, jaron, tiger i bet you can throw in some BP/shell/Duke guys in there....what do you expect, that is basically animal house two...