nervous incoming SA

hello everyone. i go to a target uni and was fortunate enough to receive a SA offer for 2024. coming on here to ask for advice 1) tips for success as an SA, 2) how to combat nervousness, as i am very nervous about this coming summer.


I'd love any advice for SA success on anything, but particularly:

1) balance between independent work and being told what to do. this past summer, i was lucky enough to have an incredibly kind and helpful supervisor that told me exactly what i needed to do, so i would do exactly as i was told. sometimes i'd make mistakes but it was nbd. what is it like for workstreams for interns? 

2) how to improve speaking skills. i tend to ramble when i speak, do employees generally speak in a structured format 24/7? at the firm i worked at, everyone was incredibly well-spoken.

3) how to not have any mistakes and increase attn to detail. 

4) how to work quickly with HQ output. what is the level of quality expected from SA in general? perfect slides? quick analyses?

5) what exactly does above and beyond mean for interns? any examples?


reasons for being nervous:

1) given the current state of the economy and how rough it was to receive offers this summer, i am quite worried i wont be able to receive a return offer nor another offer at an other firm in case things hit the fan.

2) i feel like i shouldnt have received an SA offer in the first place. it was purely chance how i was even selected to interview, during my final round case interview i wasnt even able to finish the case but i had a very nice PL interview me. 

3) this past summer, i interned at a small consulting firm and did receive a FT offer from them but mostly think it was because of my personality and not my work, stakes are much higher next summer though.

 

Hey there, future star of the finance world! First off, congrats on snagging that SA offer – that's no small feat, especially coming from a target uni. Now, let's tackle those butterflies in your stomach and set you up for a summer of success, shall we?

1) Balance Between Independence and Guidance: - Embrace Proactivity: While it's great to have clear instructions, showing initiative can set you apart. If you finish a task, don't just sit idle; ask for more work or suggest improvements. - Seek Feedback: Regularly check in with your supervisor to ensure you're on the right track. This will help you adjust quickly and learn the ropes.

2) Improving Speaking Skills: - Practice Makes Perfect: Consider joining a public speaking club or practice with friends. The more you practice, the more confident you'll become. - Structured Communication: Yes, in high finance, clear and concise communication is key. Try the "STAR" method (Situation, Task, Action, Result) to structure your thoughts.

3) Attention to Detail: - Checklists Are Your Friend: Before submitting any work, create a checklist of common errors to look out for. - Double-Check Your Work: Always review your work with fresh eyes, maybe after a short break, to catch any mistakes.

4) Quality and Speed: - Quality Over Speed: Initially, focus on delivering error-free work. Speed will come with practice and familiarity. - Learn the Tools: Master Excel shortcuts, PowerPoint tricks, and any other software you'll be using to increase efficiency.

5) Going Above and Beyond: - Add Value: Look for opportunities to add insights or suggest improvements on projects. - Network: Build relationships within the firm. It's not just about the work you do, but also the connections you make.

As for the nerves, remember: - Economic Concerns: Focus on what you can control, like your performance and attitude. Make yourself indispensable. - Imposter Syndrome: It's common to feel like you don't belong, but remember, you were chosen for a reason. Trust in your abilities. - Past Experiences: Use your previous internship as a learning experience. Reflect on what you did well and where you can improve.

Remember, everyone starts somewhere, and it's okay to be nervous. Use that energy to fuel your preparation and drive. You've got this!

Sources: Advice for summer and return offer rate?, Advice for summer Asset Management interns, Tips for incoming summer analyst in Corporate Banking?, Recruiting Tips for Summer Analyst Prospects

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For once the Monkey Bot gave a pretty decent answer.

I'll only add my personal take on your questions below, but genuinely the MB version above is not a bad high-level view:

  1. Independent working - Frankly, for an SA it's a non-issue really, since you'll have to be told what to do, so not exactly a deal breaker. However, to showcase that you can do more than what you're told, you can:
    • Engage your supervisor early & often: align with them on process + output and if you hit a roadblock of some sort, try to invest some time trying to solve it, and if you cannot, seek their advice, prefacing that you have tried XYZ and think maybe ABC could also work, but you'd like their input
    • Workplan a little bit: every day you'll have a series of tasks / to-do's to perform, of course you'll be told what to do, but if you can invest ~15-20mins every morning to think about your day and where you think you should invest your time and efforts, that'd be great. It does not matter at all how right/wrong you are, only matters that you do it (getting better comes later with experience + feedback)
    • Update your supervisor with EOD notes: at the end of each day, prepare 3-5 bullet points on what you completed on the day + any new insights gathered that are relevant and share some potential next steps for the following day (usually follows logically from whatever you were doing before + wherever the team happens to be at). That will be a great recap for you & your supervisor. A simple ping on Teams or via email is best
  2. Speaking skillls - This will come with practice, simple as. And yes, consultants do end up doing Top-Down communication all the time and signposting everything they say (force of habit). The Pyramid principle is your friend: Main Message first, then main supporting arguments (signposted: "Three things Id like to talk about", "First", "Second", Finally"), and then circling back and deep-diving where most relevant. Practice, practice, practice. Your writing here is structured well enough, so you clearly get it. Just need to do it all the time now :D
  3. Zero Defect - We call it zero defect (ZD) at Bain, but that's the same thing: minimise errors (to 0 if possible). The simplest way to do it is to build a process for yourself:
    • In an Excel model, have clean tables with clear labels, that all match each other across sheets, and build checks (e.g. percent totals = 100%, or Revenue across Geos = Revenue across Product Lines, etc.), making sure that two things that should be equal to each other, are indeed equal. Very important, and builds trust
    • In PowerPoint, have a set checking process as you build / update a slide: do all the numbers tie up? Did anything change here that impacts something elsewhere? Did anything change elsewhere that impacts this slide? Does the tag still make sense with the content of the slide after updating it? Are the sources correct?
    • Truth is, the easiest way to simplify checks later on is to reduce the need for them.... so basically, as soon as you write something CHECK it. You re-wrote a paragraph? Re-read it NOW. You changed a figure in the data row of your graph? CHECK if it impacts ANYTHING on the slide or elsewhere. You added a new insight or piece of data on the slide? ADD the source NOW
      • I suck at ZD personally, so I try to minimise the need for it down the line (nothing worse than re-reading the same 15 slides at midnight trying to catch typos
  4. Expectations - Honestly, expectations are pretty low of SAs, as long as you don't ruin anything. Perfect analysis? No one expects that from you, but if you can do it, it's a big plus for everyone. Perfect slides? Definitely not expected, as even first-year FT employees aren't there, often. But do try to minimise errors. The best way to produce high quality output is to be diligent, have a repeatable process (eg for building an Excel model, for checking a slide, etc.), and to document everything you find (if you see a good data point online, screenshot it, put it in a OneNote and copy the URL, as someone might ask you for it 2-3 days later)
  5. Above & Beyond - To me it's about doing more than what you were asked. Everyone can do what they're told, but not everyone does that one bit extra. It can take many forms:
    • Offering to help out the team when you're done with your tasks. I do that often, especially when I happen to finish early. My philosophy is that if I can invest 30mins of my time and help you get out 30-45mins earlier, I should at least offer. They may very well say no (for various reasons), but they'll always appreciate the offer. And sometimes you can be helpful and help out a bit
    • Volunteering to (1) take notes during meetings you're attending but aren't sure what you're doing there or to (2) organise social events for the team if there are any, such as team events or lunches
    • (rarely, because more difficult without much experience) Suggesting a different idea / approach for a given task if you think there's a possibly better / faster way to do it, or some extra piece of work that could be done to strengthen an argument

Now, regarding your reasons to be nervous, it's luckily very simple. You cannot control the economy, but if you work well with your colleagues and do a good job, your odds of getting a return offer increase dramatically. So, work well this summer, be diligent, focused, and also be yourself (no one likes to work with a robot).

As for your other 2 comments, I can understand why you'd feel that way, and I commend you for not being cocky or arrogant. Humility is a quality I certainly value a lot, but do not let it drag you down and not feel confident about your abilities. It's very hard to "con" major consulting firms, even at the recruiting stage. By and large, everyone hired has the skillset to succeed, what happens afterward is dependent on too many factors to count.

If you made it, you made it. Leave it at that. Not sure if it'll mean anything to you, but I have met people with imposter syndrome at Bain all the way up to Associate Partner. It's natural, You're surrounded by very capable people, and hardly anyone of them publicly voices how unconfident they feel. However, rest assured that many also feel that way (including experienced consultants, managers, and principals).

I feel it too sometimes, but I don't let it bother me because I just focus on what I'm doing. I do the best I can with what I have in front of me, I take feedback seriously, and I move on. If you did your best, you have nothing to be ashamed of nor regret.

Best of luck to you!

PS: here are some additional work-related advice I gave a while back - LINK (others also added some good advice on there too, so read on)

 

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