Evercore Modeling Assessment
Hey everyone — I have an upcoming interview with Evercore ISI for a Research Associate role. I was told the next step is a modeling and writing assessment, and wanted to get a sense of what to expect.
For anyone who’s been through it recently (or knows the format):
- How long did it take, and was it Excel-only or Excel + written memo?
- Was it based on a real company with provided financials, or a hypothetical one?
- What level of detail was expected (3-statement model, simple projection, valuation)?
- Any advice on what they emphasize most — accuracy, structure, or investment logic?
Appreciate any insight — just trying to prep efficiently without overcomplicating it.
Thanks in advance!
Based on the most helpful WSO content, here's what you need to know about modeling assessments for roles like the one at Evercore ISI:
Format and Duration: While specific details about Evercore ISI's Research Associate modeling assessment aren't explicitly outlined, lateral modeling tests in investment banking or research roles often include both Excel-based tasks and a written component. Expect a combination of financial modeling and a memo or report summarizing your findings.
Real vs. Hypothetical Company: These assessments typically use either a real company with provided financials or a hypothetical scenario. The goal is to evaluate your ability to analyze and interpret financial data, so be prepared for either.
Level of Detail: The modeling could range from a simple projection to a more detailed 3-statement model. For research roles, there might also be an emphasis on valuation techniques like DCF or comparable company analysis. Be ready to demonstrate a clear understanding of these methods.
Key Focus Areas:
Preparation Tips:
For a more structured preparation, consider resources like the WSO Elite Modeling Package, which covers financial statement modeling, valuation, and more. This can help you refine your skills and approach the assessment with confidence. Good luck!
Sources: Q&A: GS/MS IB Analyst —> Megafund PE Associate —> HBS/GSB Business School, Observations of an Equity Research Associate, Evercore lateral interview: what to expect in terms of questions and modeling test?, A warning to those aiming for Sell Side Equity Research, 2-hour Modeling Test for HF (Fundemental Equities) - What to expect?
Hey man, first of all good luck with the process. But on your questions… typically for sell side research it’s a real model which they give you an earnings report and ask you to update it with the new financials, give rough forecast updates, and then write a ~1page earnings note as you would see from a sell side research analyst. I think the main points are 1. The company is likely one the analyst ur interviewing covers so brush up on key metrics for the sector. 2. The modeling is probably more important than the writing so they know you can actually do the job (the modeling is really basic so just think logically). 3. The writing is basically to make sure u can write grammatically correct and follow a decent thought pattern based on what you did in the model and from the press release. When I was going through it I thought it was much more complex and that hindered my ability to think big picture on it. So overall advice 1. Know the sector generally 2. Have a good understanding of how models are updated with earnings 3. Just make sure your writing makes sense and is backed by the model
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