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WSO Hall of Fame: Corporate Finance, Development and Strategy Forum The Wall Street Oasis corporate finance, Development and Strategy Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the corporate finance, development and strategy industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To vi...
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LC from Deutsche BankA direct genuine provider for fresh cut BG/ SBLC for both lease and purchase with Issuance from top AAA rated Bank in Europe. All inquiries through Personal message should include the following minimum information: Complete contact information: 1. What exactly do you need? 2. How long do you n...
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FLDP at Nestle and General Mills Career Path HELP!!!I just got a offer from both Nestle and General Mills for their finance program. Can someone tell me about the career path coming from these programs? And, if my end goal is to do in-house corporate development or IB. Is that possible assuming I get into a top 20 MBA program??? How do B-school look ...
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Junk Bonds in LBOsI don't understand why you would Junk Bonds in LBOs if the target has good free cash-flow? Are Junk Bonds still common?...
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Junk Bond Fees in Barbarians at the Gate"To Forstmann the junk bond was a drug that enabled the puniest acquisitors to take on the titans of industry, and he held it responsible for twisting the buyout world’s priorities until they were unrecognizable. No longer, Forstmann believed, did buyout firms buy companies to work side-by-side wi...
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Buying a distressed assetWhen buying a distressed asset under liquidation, do you pay the creditors and take the property or do you make some kind of offer based on the assets value? ...
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Company Interview: JPMorgan Chase - Corporate Client BankingGreatest Strength My greatest strength is my collaboration/communication skills. I work very well with all kinds of people from different backgrounds and ages. When I work with others, I make sure that I understand the different perspectives and objectives that each person brings to the table. At th...
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Wells Fargo Finance Analyst ProgramDid anyone else get invited to the first round phone interview for Wells Fargo's Finance Analyst Program?...
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What is an excellent EBITDA exit multiple?What is the normal EBITDA exit multiple applied in PE funds for a 25% IRR and a 5 year holding period?...
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Company Interview: Citigroup - Financial AnalystMost of the questions were basic interview questions. The Superday was split so each of the 3 interviews covered something different, like leadership/value (behavioral), technical/case interview, and fit (behavioral). A lot of the behavioral questions were scenario based, some of the scenarios were...
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Issue in regards of Letter of CreditHi Guys, I need professional advise in L/C. Pls read below issue. L/C has been issued to one of Chinese bank. Hence it's confirmed L/C, confirming bank required coverage by 1st rated international bank. So parties (applicant, beneficiary) have encountered charges of issuing bank, confirming bank, c...
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Company Interview: Apple - AppleWhy apple? This was difficult to me because, to be honest, I did not really know too much about Apple's work/coporate environment. So I gave some bs answer, saying that I like how they were constantly innovating stuff every year. Which, now that i think about it, is a really bad answer because apple...
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Company Review: Amazon - Intern- Very smart people - Tons of Responsibility - Able to move horizontally throughout firm, even encouraged - Quick advancement with hard work. - Very long hours on a fixed salary - They make finance students become programmers (lol) - Can be very siloed ...
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Prospective internProspective corporate finance intern looking for help in terms of what to study and what to prepare ...
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Company Interview: Houlihan Lokey - Houlihan LokeyFairly, easy interview, and it lasted 30 minutes with one associate. It was both behavioural and technical, and I had a few minutes to ask the associate some questions at the end about his experience with the corporate finance group. Tell me about yourself What did you study in your first two y...
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Commercial Banking - Structuring a Credit DepartmentHi everyone- I am looking for some advice on how best to structure a credit department. I work for a $1B bank and we have experienced a good amount of growth in the past 3-5 years. Does anyone have advice or examples of how many analysts they have per senior analyst, how many senior analysts per A...
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Corporate FAI am seeking to become a corporate financial analyst. should study business economics or finance? I attend the University of Georgia. Is finance the preferred degree for corporate financial analyst jobs or is a business economics and a finance degree held to the same level Note: A finance d...
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Company Interview: Prudential - Fixed Income Operations InternshipNo unexpected questions, mostly asked the basic behavioral questions (typical first round middle office type of questions). Tell me about a time you worked on a team. What are your strengths? What are your weaknesses? Tell me about yourself. Tell me about a time you took a leadership role. Walk ...
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Rip away my CV!Ripped, torn, and shredded by you and now me, got help from a diff forum, deleting this post now, tata...
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Finance ModelsBeing an economics major is quite the challenge moving towards financial anlaysis. Economic and econometric models are way simpler (or is it becoz I understand them better??). I really wish I could stop time so that I can just learn about financial models for a good month. Then when I'm done I can...
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Hostile takeover of a Private CompanyOk here we have a company and have identified some private companies. We are planning for an equity stake in these companies, however this is very tough as they are unwilling but instead prefer debt Finance. Taking over a public company is easier since you can apply a number of strategies such as ...
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Company Interview: Johnson & Johnson - Johnson & JohnsonI didn't get any technical questions. The recruiter walked through my resume with me. He did most of the talking. It is a very relationship based company so they just want to see if you are someone they would want to work with. I got questions like what is your greatest accomplishment and tell me ab...
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Company Review: General Electric - Great place to developFantastic mentorship culture. Still have some good management training programs if you're willing to relocate. . Declining industrial business without New York office. Sell offs likely to continue. Energy and GECAS are the only finance tracks left at GE Capital. ...
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Company Review: General Electric - GE FMP Third rotationInternational travel opportunities for training and secondments. Good input into which rotations you would like to undertake.. No say to which international location you would like to target on secondment. Some mid level management do not subscribe to company values....
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Company Interview: HSBC - Summer InternInvite candidates to ask questions - This can be the most valuable part of the interview. Why do they want to be here? Is it the challenge of the job, advances in the industry, or something specific about your company? Or is the candidate fixated on salary, benefits, and time off? If the candidate h...
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Company Review: Bank of America Merrill Lynch - GTS InternshipGreat internship, learn lots of cash liquidity management .. Was looking for something more banking related. Senior mangement is pretty old. Would def come back for another stint....
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1 year in post-MBA banking and no M&A deals closed - wait more to recruit CorpDev?It's been a year at the desk and I haven't closed a single M&A deal. Been on a couple of buysides that came close (final round in one for $1bn, finished diligence in another which was a negotiated sale of $10bn) Should I even bother starting to recruit for CorpDev? I can't really talk specifics ab...
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Work to live, not live to work. Low-stress finance jobs...What are some roles with a combination of: Lifestyle (9-5) Decent pay ($125K in high COL region) Relatively low stress (limited fire drills, limited risk or potential for major mistakes) Demand (not super niche, potential to work in a relatively wide range of industries and companies) For those...
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Fortune 50 FP&A Interview QuestionsI am interviewing for a corporate FP&A analyst position (post-undergrad) on Monday. I'm not exactly sure what to expect in terms of interview questions.. I know their business pretty cold and can talk very intelligently about the company and industry, but what should I know in terms of finance tech...
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AMA : Actuary to Big4 Consulting to CorpDev, at age 30A year ago I promised to do an AMA when I complete my first deal so here we are. This is Asia experience so may not be applicable to North America, but why not? Education: International student went to a Midwest non-target undergraduate program (BigTen but not Michigan/Northwestern) Career: Return...
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Company Interview: SunTrust Robinson Humphrey STRH - Portfolio Management Summer AnalystWhy would a bank want to lend to a private equity firm, they are very risky and we could lose our capital. It wouldn't be worth it so why are these deals done on the banks end? Can you walk me through the deal listed on your resume? What was the rationale for the deal, what was the multiple, EBITDA,...
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Exiting from Corporate DevelopmentWSO Community, I'm finishing up my first year at a private ~Fortune 500 company in their corporate development group (M&A, VC investments, some JVs, board presentations). The company's industry is loosely classified as business services. I was incredibly lucky to get this opportunity after two year...
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Maturity Quiz Hi, May I know what is the maturity of below? On October 17 2016 Nina borrowed RM 450,000 at a simple rate of interest of 3% per annum. She promised to repay the loan in two and a half years. How much will she have to pay on its maturity? ...
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Company Review: Microsoft - Great companyGreat work life balance. Good comp. Fun people and a great city. Benefits are unmatched. Rotation program.. Not as much responsibility as there could be. Finance should have a much bigger impact than marketing....
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Which SQL software does your company use? Mysql, teradata, Microsoft sql or Oracle sql? Hi All, Just want to have a general idea which sql software is popularly used in the current companies now - mySQL, teradata, Oraclesql or Microsoft Sql? If I would like to get an exam for licence in SQL, which do you recommend me to take? Thank you....
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FLDP phone screen, what to expect?I have a phone screen for an FLDP tomorrow and I'm slightly confused on what to expect. I know typically these are basic behavioral and fit questions, but before I was even offered a phone screen they gave me a pre-screening questionnaire asking about strengths/weaknesses, why 'x' company, leadershi...
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Corporate Financial AnalystHi, my name is Francis. I'm studying biomedical engineering at the University of Florida. I want to become a corporate financial analyst. What degree should I get if I want to become a corporate financial analyst, business economics or finance? For corporate financial analyst positions do the majori...
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From law to strategy - Tactical questionsGood evening everybody, From what I've seen, this subject has been discussed many times in this forum and elsewhere. However, I would like to submit my own case and get some advice regarding my project. As you got it from the title, I am a junior attorney ("avocat") in Paris. I have been offered s...
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1ST Round Phone Interviews this Week?Sup Monkeys, Can you please which firms (F500) are giving out first rounds next week? Thank you so much fellow monkeys!...
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29 Year-Old CFO of Kraft HeinzThe $100 billion food empire has decided to entrust the financial direction of the firm in the hands of a 29-year-old. David Knopf has worked at Kraft since 2015 and is a partner at 3G Capital. Prior to Kraft and 3G he worked at Goldman Sachs and Onex. He will become one of the youngest CFOs in the ...
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Corporate Development opportunitiesHi folks, I'm currently considering a jump into corporate development from a 2-year stint at a boutique IB/consulting firm. I'm looking at a few options: the first is with a large, well-known industrial company (not quite F100, but definitely F500). The other is with a much smaller, relatively youn...
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CPA or GMAT? 5 Year MAC Program Grad- Incoming F100 FLDP with Corp Dev Aspirations or MBA -> IBDHi Monkeys, A little about me. I graduated from a top 20 target in Econ but didn't get the job I wanted out of undergrad, decided to do a masters of accounting degree at a similar school and now will work at a F100 FLDP. As stated above my goals are to break into corp dev internally then possibly a...
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How to create a credit write upIf you want to be in IBanking you have several companies like Wall Street Prep or BIWS that sells guides on how to built financial models and evaluate companies from scratch. What about for credit analysis? Say a company wants to borrow $300 million dollars. Is there anyway guide out there that'll w...
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More enjoyable: FP&A vs. TreasuryAnyone have experience in one or both that can chime in? Currently in FP&A now and it feels like a churn and a grind relatively often. Thinking treasury might be a more enjoyable next step with a still fairly decent career path. Thoughts?...
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Do I have a shot at a corporate development role?**Current Work Experience** I'm halfway through a corporate finance rotational program at a top five insurance company in the Midwest. First rotation was in FP&A, second rotation is in reporting (BRUTAL), and third rotation will be accounting. Also passed level 1 of the CFA in June 2017. **Colleg...
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Help me win this TARGET!!!So we sent an expression of interest to a target that needs some money and they got hang up excited. Then we asked for an update and the target was now a little resentful stating that they will arrange a meeting but they have a number of Financing options through Bank X. It turned out we had already...
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Most insane fees for an IPO book underwriter?We are listing on an exchange and the Corporate Financier wants very high fees. 1. 5%-7% of the fees raised 2. Success fee of 2.5 Million 3. Monthly retainer fee of 500K This to me is insane and literally 10X what the IPO legal advisor is charging, who is also the project manager. Any takers? ...
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Early adoptor?We are currently setting out to raise funds via a roadshow for an IPO. However the corporate Financier is quite concerned that investors will require to see someone who has already invested. Some investors have declared interest to invest on the CONDITION that they are not the only investors, how do...
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Goldman Sachs 2018 Internship Housing SLC Hi guys, Just accepted a offer for GS in SLC for summer 2018 in the finance division, anyone know a good place to find housing? I saw the university of Utah but it looks pretty dingy. Any help would be good, thanks!...
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Company Interview: Apple - Financial What was your least favorite thing about apple software? This question was interesting to get considering I was applying for a finance role. I mentioned to the interviewer that the lack of integration of the alt key into mac version of excel made using apple products for financial models very diffic...
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Corporate Development Perspective: Deal Frequency vs Deal Size?? Hi all! In an effort to keep this as brief as possible, I wanted to get opinions on Corporate Development roles with a particular focus on the transactional functions of said roles. If possible, I'd love insight from individuals who've had experience in Investment Banking, Private Equity & CD. In sh...
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Finanacial Analyst (FP&A) interviewHi, I am interviewing for a position of financial analyst with experience on the ops side, do you have any tips to be successful at this interview? What questions can I expect and how do I prepare for it. Thank you in advance!...
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Calculating the Jones model within ExcelHi All, I am hoping someone has experience in calculating the Jones Model, within Excel. I have calculated the firm parameters: α1 - Aτ-1 α2 - ∆REVτ α3 - PPEτ As well as accτ/Aτ-1 Where Aτ = Total Assets, ∆REV = Change in revenue, PPE = Gross property, plant and equipment and ac...
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Post MBA at Chevron/Exxon/ShellAnybody know what life is like at these companies after you get your MBA? I've searched their websites and have found some useful info but nothing about salary or work-life balance. I work in Energy right now for a different major but would be open to moving after getting a part-time MBA from a ...
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Too old for Finance Leadership Development Program?Long story short, I spent 6 years in the Navy and now am finishing up my undergrad in finance at a non target school. I'll be 30 when I graduate and my main worry is, is that too old for a development program? I am networking my butt off looking primarily for investment banking but corporate finance...
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Corporate Development Deal FlowFor those of you in corp dev, what is your deal flow like in a given year? How many teasers, CIMs, management meetings, and closed transactions? Edit: I guess it would be appropriate to include my personal experience. We're looking at maybe 5 CIMs in a month and meeting with a management team on 4...
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Can they fire me at a company I started?Basically we are listing an Investment company on an exchange with 30% management shares (20% locked in for three years). I am trying to consider what kind of situations can lead to that dreaded thing of being fired as a CEO after all my sweat, trying to make sure we structure everything so I can be...
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Company Interview: Bank of America Merrill Lynch - FMAP What is your experience with excel? - the corporate finance role has you dealing with multiple large data excel sheets everyday, so they like to see some experience with excel. For the internship, it wasn't a must-needed skill as they teach you, but for full-time I would imagine that you need to kno...
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consumer insights & strategy manager?Hi, anyone with experience in market research/consumer insights willing to share their wisdom? I am thinking of joining an international market research agency as an account executive. My plan would be to stay for ~4 years then exit to a consumer insights and strategy management role at a big FMCG ...
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credit spread / coupon of a new bond issueHi all, I have been wondering for a while now how you estimate the credit spread / coupon of a new bond issue in case you have got few comps, ie no other issuers and old bonds have shorter maturity. I assumed you would take the z spread of the current issue and add some bps to compensate for the lo...
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List of Leadership Development ProgramsI found these lists of LDPs and just wanted to share. Obviously it's not a complete list, but I figured it would be useful for those of us targeting FLDPs. If you have anything else to add to the list please do. http://csb.uncw.edu/serviceLearning/NewGraduateLeadershipRotationalPrograms.html https...
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Pivoting from Bus. Analyst to Fin. Analyst-2nd year analyst -fund acc't & bus. analysis experience Taking up a BA position with a BB in several days to kill the resume gap. Do any of you have suggestions for transitioning to a Mid. Office - technical/data analytics role? ...
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Amazon’s Diversification Strategy – Innovative genius or Impending collapse?Amazon’s rapid growth and diversification, from Whole Foods and “Meal-Kits” to optimizing its prime membership package, seems to signal an increasing interest in industries outside of simply retail; but could this monopoly-like strategy face harsh challenges that slow roll its growth and even ...
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Good Questions to Ask a Bank COO?Scheduled to grab lunch with the COO at my current MM firm (think Stifel, Jefferies, Baird, etc.). We connected because we went to the same school. I’m a recent college grad, currently in a LDP rotational type of program, and simply grabbing lunch for networking purposes. What are some good questi...
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FP&A Possibilities after undergradHey all, I am a rising junior at a target school 3.7 GPA hoping to get into FP&A after undergrad. I am currently doing a double major in Finance and MIS, however, I've been thinking about doing Finance/Accounting rather than Finance/MIS due to the nature of FP&A. Can any one with prior experience co...
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Two companies bid for a diamond mine A diamond mine decides to offer for sale and a buyer approaches them. In the process another buyer shows interest and approaches the seller. The one company has money, the other has to first raise the funds and list on the exchange. Ideally this couldn't be bad as a DD could be done while the fund...
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Learning SQL for FP&AWhat is the best way to learn SQL for use in finance, namely FP&A? I've watched videos on YouTube but most of them are focused on the syntax. I do know that SQL is used in some type of DBMS like IBM / Oracle / Microsoft Excel. So, when job applications list SQL experience (like for FP&A Analyst posi...
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Wells Fargo Summer Analyst Diversity Program 2018hey! anyone else going to this? just rsvp'ed for the one in Charlotte on Sept 27-28. anyone know what the program will be like? honestly a little confused still as to what specific roles exactly this summer program is for lol...
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Company Interview: Wells Fargo and Company - Corporate Risk Development Program (Capital Market)- Tell me about an even you have read recently and how do you think it'll impact the banking industry from a corporate risk standpoint? (I literally just the front page of the Market section on WSJ daily to keep up with any big events ie M&A and then go to MorningStar--mostly free if you're in a dec...
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FCF Calculation Confusion QuestionHey all, I've been tasked to derive an enterprise value for a mall that will begin operations as of 2018. I'm attempting to attain the FCF but something is confusing me and it is the following: Balance Sheet: Year 0 (2017) Cash 22,000,000 Assets: 22,000,000 Long term debt: 12,000,000 Equity:10,0...
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WACC Classic Vs. VanillaI've been tasked with calculating the present value of cash flows is the same using both the classic and vanilla version of WACC. Given the following information: • Required return on equity is 12% • Required return on debt is 6% • Constant debt proportion of 40% based on market values • Cor...
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Disney Corporate Strategy / Corporate Finance / Decision Support?Hi all, I know a lot has been said about the strength of Disney's corporate strategy group in terms of exit opportunities, business school placement, buyside, etc. However, I'm a little confused about the actual layout of the firm. So at my school they recruit for: - corporate finance - Decision S...
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Company Interview: Ameresco - Corporate Finance InternI saw that you're interested in [insert something from Interests section of resume here]. Can you tell me about it? Why did you apply for this role? Why are you interested in finance? Why did you apply to our company? Are you interested in the energy efficiency and renewables industry? The few qu...
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Company Review: Siemens - Siemens FLDP Intern-Real work experience, they'll make you prove yourself for that return offer -well compensated, $25 plus housing and travel -endless upward mobility because of the company size. -not everyone is work focused, many employees are content working the 9-5 -sometimes hard to see how your work matters in ...
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How limited is your career by your industry?Does the industry you're in limit your options? In the early years of your career. For example, marketing analyst in retail to something in healthcare? Or energy to transportation? Talking mainly corporate strategy-type roles. I just landed my first job out of college and I'm really excited abo...
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Financial Model for Corner StoreHi Folks, I was brought in on a project for a non-profit (no pay) project. This group works with small business owners in little served socioeconomic groups. I was asked to work with a group of small corner stores/bodegas and help them turn their businesses around. I created the standard financial...
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Company Review: KPMG - Summer Internship in KPMGIt is a great experience since the people are very nice and the workload is fine. We don't need to work overtime. . I was not very interested in accounting but then then too bad I don't get to change to the advisory team....
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Project selection different discount ratesHi, I hope this is a relevant section to post in if not please move it. When comparing multiple projects is there a rule or 'correct' way to choose if they have different discount rates or can you straight up just compare the present values of the cash flows. cheers....
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Citi Corporate Banking GroupsHi Monkeys, I want to apply to Citi's corporate bank, but aside from the obvious sector coverage that they have, I do not know what the groups within the division actually do. There don't seem to be any resources available online, and searches here have yielded nothing. Would anyone have any insig...
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Scenario analysis - just an Actuarial thing?The best way to do Financial projections is to produce scenarios. Start with a best estimate model, identify the main business drivers; say Inflation, Sales, Business Mix etc Shock them up and down and produce worst case scenarios and best case scenarios. Then present management with a funnel of pos...
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Company Review: 3 Seas Capital Partners - finance intern good hours, easy work, it was very easy to do to the work while in school, and the work was interesting . none, except for maybe the fact that there wans't enough valuation work, we could have done more dcf and lbo ...
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Company Review: JPMorgan Chase - Finance Analyst Program•Large amount of exposure to various lines of business within the bank •Get to work in various roles within the bank •Many opportunities to network internally •Ton of benefits for working at a large firm. •Can get lost within the organization and not much individual attention •Don't alwa...
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Standard Chartered Bank's "Corporate & Institutional Clients and Corporate Finance" InternshipIs the "Corporate & Institutional Clients and corporate finance" internship at Standard Chartered Bank their IBD internship? I know that generally, for SCB's other internships such as in Commercial Banking or Wealth Management, their interviews are composed of purely resume-related and behavioural q...
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