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Estimating the coupon rate for a bond issuance...I am planning to: 1) Look up the company's credit rating 2) Use the rating to find the current yield spread for similar (rating/maturity) bonds 3) Look up the relevant Treasury forward rate for three years from now 4) Add the yield spread to the Treasury forward rate Will this work or is... 4 2 years 2 months
NYC banking salary --- where does it all go?A reasonable breakdown for a thrifty analyst during a good year: $125,000 All-in compensation -46,033 Taxes (29.7% federal/state/city, 6.2% social security, 1.45% Medicare) -19,800 Rent ($1,500 per month) and utilities ($150 per month) -6,000 Food ($500 per month) -6,000 Entertainment ($... 37 2 years 3 months
Private equity arrangement feesAre they a tax deductible expense of the target company? 2 years 5 months
Question for PE GeniusesWhen they want to take cash out of their investment, sometimes they will do a dividend recap. Why wouldn't they use the debt proceeds to buy up treasury stock instead? Wouldn't that delay/decrease the tax effect? 4 3 years 1 month
Enterprise Value, according to McKinseyI noticed that in the McKinsey valuation book, enterprise value is defined as the present value of operations + the present value of non-operating assets. That is a different definition from the one I learned in class, EV = Equity + Debt + MI - Excess Cash. I realize that they have the same... 3 3 years 1 month
Need Interview AdviceI have been interviewing for Summer Associate positions at BB banks and, while I am regularly invited back for final rounds, I haven't been able to close the deal anywhere yet. I have gotten some feedback from alumni and interviewers and the consensus seems to be that I have a very strong... 5 3 years 3 months
M&A Question - Seats on the board? When an acquirer company acquires a target company, does the target generally get seats on the acquirer's board? Is that typically among the terms of the deal? 1 week 1 day
Exploding OffersHow long do they usually last? I have heard everything from 24 hours to 2 weeks. 3 3 years 3 months
LBO Model Question - Fair value? In a real-world lbo model, do you bother to mark the target's balance sheet to fair value? Or is it more trouble than it's worth? Just wondering what is done in practice. 6 1 week 2 days
Enterprise Value - Hypothetical example Let's say you have a hypothetical company with $50 market value of debt and $50 market value of equity. No preferred stock, cash, or minority interest. The enterprise value is $100. The company decides to take on additional leverage. It raises $25 in debt (at a higher interest rate) and uses the... 9 1 week 3 days

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My GPA (3.1) broke me. At least, that's what...My GPA (3.1) broke me. At least, that's what Darden told me in my feedback interview. Kinda lame that your grades from undergrad play such a large role, but these adcoms have to make good decisions from limited data. 329 9 months 6 days
Enterprise Value - Hypothetical example (...Enterprise Value - Hypothetical example (Originally Posted: 12/20/2012) Let's say you have a hypothetical company with $50 market value of debt and $50 market value of equity. No preferred stock, cash, or minority interest. The enterprise value is $100. The company decides... 79 1 year 7 months
The most attractive thing about banking for me is...The most attractive thing about banking for me is that it offers an established career path where there is the opportunity to become an MD some day. Despite what recruiters will tell you, corporate rotational programs and junior PE/HF positions will rarely take you to the top of those... 36 2 years 6 days
People only rely upon prestige when they can't...People only rely upon prestige when they can't come up with any better differentiating factors, which is probably why the undergrads on this site are so preoccupied with it. 27 2 years 1 week
Both will give you a great education, provide you...Both will give you a great education, provide you with incredible job opportunities, and shield you from any contact with the huddled masses that make up the 99%. 75 2 years 2 weeks
torchic: mdk6c: Just try to be subtle about it...[quote=torchic] mdk6c: Just try to be subtle about it. Some analysts make it very clear that they don't care any more, which can be a drag for those who actually are considering a long-term career in banking. some analysts consider a long term career in banking? wow [/quote] I know, PE is... 19 2 years 1 month
Just try to be subtle about it. Some analysts...Just try to be subtle about it. Some analysts make it very clear that they don't care any more, which can be a drag for those who actually are considering a long-term career in banking. 19 2 years 1 month
FB has all that cash and it's not like Zberg has...FB has all that cash and it's not like Zberg has to get board approval for an acquisition. 45 2 years 1 month
Hernandez: For the public private equity firms...[quote=Hernandez]For the public private equity firms, do they have to file these with the SEC? [/quote] Nope 9 2 years 1 month
Solidarity: It's bogus... I imagine you spend...[quote=Solidarity]It's bogus... I imagine you spend all your time drafting marketing materials, DDing a lot of managers and assets and what not. Not what comes to mind when you think "Blackstone"[/quote] Bogus? If you worked your way up in Park Hill with the ultimate intention of starting your... 7 2 years 1 month
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