Summer Associate vs. Summer Analyst

AltESV — Tue, 17 Jun 2008 19:38:43 -0400

I've read all of the threads on summer analysts—tips/advice, regrets, daily tasks, attire, etc.—and I'm wondering how similar the summer associate experience is. Obviously tips like "don't go home early" or "pay attention to details" carry throughout any internship, but I'm asking more about the details of the job.

Just as one example, several people have said that SA's should try to get modeling experience if they can, although FT analysts will be hesitant to let them. Does this apply for associates as well, or are they expected to be proficient modelers already?

Any other insight on what summer associates do, how they fit into the deal teams, what is expected/required for success, etc. would be much appreciated.

How do you tell a superior that they are a terrible writer?

AltESV — Wed, 11 Jun 2008 18:59:59 -0400

I've been tasked with "editing" a document that literally makes me want to throw up after every sentence I read. I'm supposed to track changes via Word but at this point there is more red than black on the screen. The ideas are good but every sentence is just awkward, poorly worded, and often flat-out grammatically incorrect. How do I tell my boss's boss that he can't write for shit and needs to take all of my edits? Or should I just send the heavily marked-up version and not comment on why I basically rewrote the whole thing?

Note: This is not someone for whom English is a second language and I actually think he believes he is a good writer.

Conferences for networking

AltESV — Mon, 02 Jun 2008 14:02:21 -0400

Is it worthwhile (as a student/prospective monkey) to attend IB/M&A/PE conferences to network?

Below is the conference that piqued my interest, but I see ads for similar conferences all the time.
https://chapters.acg.org/philadelphia/conference2008/

Some of them can be quite pricy, but this one is only like $500. Just curious if others have tried attending events like this and if it has been a good way to network.

Current status and 5-10 year outlook for YOUR sector/product?

AltESV — Mon, 12 May 2008 14:09:37 -0400

After reading GameTheory's excellent analysis of the Healthcare IB market (http://www.wallstreetoasis.com/forums/healthcare-ib-0), I began wondering what kind of untapped collective knowledge we have on the board for other groups. What are your thoughts on the industry or product that you cover?

e.g. Where is TMT heading over the next 5 years? What is the M&A outlook like? Will LevFin ever recover to where it was before the subprime mess? Is Restructuring the new M&A? etc.

How important is following the markets/news?

AltESV — Thu, 08 May 2008 15:47:26 -0400

Or: Do you really read the WSJ every morning?

Just curious if "following the markets" is really a critical part of banking or just something you need to do for interviews.

Obviously you'd need to be aware of what's going on with a company you are working with, and major market news like the sub-prime crisis, but do you really need to read about every public company that announces its earnings? Or about what's going on in the democratic primaries? Or the latest employment report?

It just doesn't seem that relevant to me to what most people actually do in banking.

I'm talking about for IB, not S&T where every bit of news could move the market one way or another.

Takeover Defense Fees

AltESV — Tue, 06 May 2008 10:05:14 -0400

How are bankers compensated for takeover defense advisory in a hostile takeover? I know bankers are typically only paid when a deal closes, but isn't the point of a takeover defense to prevent a deal from closing? It would seem like the bankers incentives are not aligned with those of the company.

This was brought up in one of the MSFT/YHOO threads, but no one had a complete answer.

If Microsoft goes hostile...

AltESV — Mon, 28 Apr 2008 17:25:27 -0400

Thought others might be interested in this detailed explanation of several potential scenarios:

http://blog.pmarca.com/2008/04/if-microsoft-go.html

What do you guys think? Is Microsoft going hostile? Did Yahoo call their bluff? Is Yahoo screwed either way?

Excel: "Copy down" with keyboard?

AltESV — Wed, 23 Apr 2008 14:33:40 -0400

I'm not sure if "copy down" is the technical term, but I'm talking about when you select the first few items in a list, then click the bottom right corner of the selection and drag down or right to extend the list.

For example, starting with
January 2008
February 2008
Then being able to quickly copy down to get monthly labels for the next 20 years.

SF influence on NY hiring?

AltESV — Wed, 09 Apr 2008 14:08:04 -0400

I will be entering Bschool in NYC in the fall, and looking to secure a BB summer in 2009. I'm living in SF until July/August, and wondering if it would be worth my time to try having informational interviews with people out here. Through family and other connections, I could probably get in with some VPs/MDs, but I don't want to waste their or my time.

Beyond BBs and elite boutiques in NYC

AltESV — Fri, 04 Apr 2008 13:03:26 -0400

Could anyone provide (or point me to) a good list of the top 20-30 non-BB banks based on their NYC offices? I'm looking for MM/Foreign Banks/Boutiques/etc.