Silver BananaTopicReplies
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2017 Investment Banking Report: 8 Key Trends to Know Wall Street Oasis (WSO) released a detailed 2017 Investment Banking Report that includes data on compensation, the interview process, employee satisfaction, and more. All statistics featured in the reports are based solely on paid user submissions to the WSO Company Database during 2015, 2016 a...
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WSO Hall of Fame: Investment Banking Forum The Wall Street Oasis Investment Banking Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the investment banking industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navi...
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How Long Did it take for Banking to Break YouHappy Friday All! This thread is a simple one. Question: In what ways did banking break you, and how long did it take? ...
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Summer Offer Decision - UBS vs Rothschild (Both NYC)Hi all, Been a long time lurker but finally made an account because I wanted some advice (and hope to contribute in the future at some point). I've been fortunate enough to receive offers for both UBS and Rothschild for the Summer of 2019. The offers are for their NYC offices and neither are group ...
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Updated Summer 2019 SA Open ApplicationsHi everyone, I know there's a megathread for this but that thread doesn't seem to have the most accurate information. Right now it looks like the following firms have opened their general applications for Summer 2019 SA- Evercore Credit Suisse J.P Morgan Deutsche Bank William Blair Guggenheim Wel...
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Lateraling to a different geographicHi all, Decided that I will start preparing to lateral soon (think after summer, because I have a vacation planned lol). Ideally I would like to move to a bigger (balance sheet) investment bank. At the same time, I would love to make the move to London (or the USA, if there are firms that sponso...
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Artificial intelligence will wipe out half the banking jobs in a decade, experts sayhttps://www.mercurynews.com/2018/04/20/artificial-intelligence-will-wipe-out-half-the-banking-jobs-in-a-decade-experts-say/ I know people on this forum joke about how their job is so easy a monkey could do it, but where do you guys see investment banking going in the future as AI becomes cheaper fo...
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2019 Goldman Sachs IBD Summer AnalystI don't think there's already a forum on Goldman's 2019 IBD Summer Analyst recruiting process, so figured I'd start one. Please share insights/questions below! Is anyone else recruiting through the accelerated timeline?...
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Changes in Lateral Process for Summer 2018?I'll be an SA at an EB this summer and I was wondering what the lateral recruiting process looks like in the event I have an interest in switching firms for full time. Specifically what the process looks like to move between EBs in the same city, which I know would be pretty difficult to do. Obvious...
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Wells Fargo FineSo Wells Fargo has just been fined $1 billion. What effect does this have on their investment banking division?...
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Real Estate Investment Banking/Private EquityInternship is at a boutique. Would this help my chances for 2019 summer Internships as a rising junior or nah? I would be doing basic PPT slides work on potential property deals , some excel/modeling but very basic, and other busywork tasks. ...
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Oppenheimer - Investment Banking Oppenheimer recently opened up their applications for the summer analyst program. Very interested in hearing people's thoughts on Opp's IBD as I know they have lost a lot of bankers in the past few years. Would also love to know what their best groups are, exit opps, if they pay street level and how...
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Barclays Sophomore Springboard 2018Hey guys! Just wanted to create this thread because I do not believe there is one for the Barclays Springboard event for sophomores this year. Wanted to see if anyone has heard back from Barclays? Hopefully we can share our timeline information. Post when you applied and if you have had a phone ...
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PPT - Section TitlesIn a deck, if you have: 1. Section title slide with the section title being highlighted in the agenda (1) 2. Section title on every slide and you change the section title, you will have to go to every slide and change it manually. If you have 120 slides and 10 sections, that is going to drive you ...
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Deutsche Bank - Review - Investment BankingGreat culture, good hours. Great pay. You feel like you are part of the team day 1. No discrimination. Management change. It has been hit with fees a few times last few years. That creates some instability....
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Excel Print Setup TipsSetting up perfect printing for my models has always been a challenge to me. There are several elements of a perfect setup: 1. Consistent footer and header across every sheet 2. Consistent scale across every sheet 3. Pages aren't being cut off at awkward spots (adjusting manually would affect scale ...
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Recently hired IB analyst - why was this hard to break into?I am fully aware I will get monkey shit for this but if you give MS then have the balls to comment :) As the title says I am a recent college graduate who managed to land a FT role at a boutique M&A shop. Now that I have broke into the industry and seen how easy the work bankers do is, why was t...
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Guggenheim NYC: updated reputation, culture, exitshey, I've done a good amount of searching regarding guggenheim's rep, prestige, culture, and exits, but I see a lot of older threads/information and dissenting viewpoints. I do hear, however, that it's growing quite fast. does anyone have an updated/recent view on their exits and culture? Had a sup...
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Accretion DilutionHi, was wondering if anyone could walk through how to get to a post M&A EPS number. Company A has revenue of $10 mm, 20% NI margin, and 35% tax rate. Company B has revenue of $5 mm and a 10% NI margin. Company A also has 1,000,000 shares outstanding trading at $100 a share. Suppose Company A purch...
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Include Incoming SA on resumeFellow Prospective Monkeys, Sophomore here from non-target, secured SA role at large bank (think Citi/J.P./Baml within FADP program. I got kind of screwed this upcoming recruiting season (fall 2018) as banks are already interviewing sophomore for Junior SA roles for 2019. Was wondering if it would ...
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...........I will pay ......... (via venmo) to someone who can help with my financial model..but i need it back by 4/22!...
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JP Morgan -- Winning Women 2018Did anyone apply / hear back? I just emailed an analyst, and he asked me if I've heard back regarding the event. I haven't heard back and the event is on April 19-20th, so I'm not sure if I should be worried. Anyone email HR?...
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Summer offer: Top Restructuring Group vs BX Real EstateCollege junior from a less prestigious school (G town/Stern/Ross/Duke) needs some advice on offer decision. The first offer is from a top 3 RX shop(PJT/LZD/HL)'s London office. The second offer is from BX NY real estate group but not REPE (Acquisition/BREDS). My goal is to join BX PE/TacOp, Silver ...
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DB NYC vs Guggenheim NYC vs RBC NYC (M&A) vs TPH (PWP) Houston for 2019 SA -> FTCurrently hold offers for all except one listed above. Need to make a decision by the day after the superday of the bank I do not have an offer yet from. More about the situation and what I know: **DB NYC**: No idea what the hell is going on with this place. Some tell me it's a low-tier BB going th...
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Chicago or Columbia for Undergrad College ChoiceHi all, I posted a similar thread on the Jobs forum but got a limited response. Posting again here to see if I can get some other opinions. Anyway, I'm a high school senior and need to make a college decision by May 1. I have been accepted to the University of Chicago and Columbia University (Colu...
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Accounting -->IBD/MBBHey everyone! Im an accounting major at a Canadian target (Ivey/McGill/Queens). Unfortunately, I realized a bit too late that I do not want to pursue a career in accounting. I have a 3.8 GPA and a good CV. I think I have a decent chance at obtaining an MBB/BB/EB offer based on the success of other ...
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What additional Excel functions do you wish for?I am of the opinion that overall the years, Excel hasn't addressed some of the key issues that make an Analyst's life harder. For starters: 1. Trace precedents - I can't think of an excuse to not develop a function that allows you to trace multiple precedents or dependents. If you're auditing a m...
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Guggenheim sophomore superday FridayWho else will be attending this Guggenheim Superday on Friday? This is my first IB superday and it's mad early so i don't know what to expect....
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Wall Street Prep O&G vs Premium PackageHey guys, I am an incoming summer analyst at an EB in Houston. I plan on purchasing a modeling course from Wall Street Prep. I noticed that the Oil&Gas course has a lot of overlap with the Premium package. Any reason to purchase both? Does the premium package go into more detail on non-O&G specific ...
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Operating Model CritiqueHi, would anyone be willing to take a quick look at a 3-statement operating model I made for ServiceNow, Inc? It's the first forecast I've ever made so any help would be greatly appreciated! I have my first interview with a boutique in a couple weeks....
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Hiring at Goldman Sachs: Analyst track vs. lateral hire?I'm a bit confused about the pros/cons of applying to Goldman Sachs via the analyst track or as a lateral hire. My situation: * I have a PhD (almost finished), MS, and BS in STEM fields. Interested in moving into IB or MBB consulting. * I have ~2.5 years of work experience in gov/industry role bet...
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Financial Modeling Help!!! Need by Sunday night!!Hey guys, I'm working on a financial forecast and i can get the CFS to balance but the B/S is off by 1-4 each year. I have a presentation on Monday and need some help! Any idea where to begin?...
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IB Summer 2018 Recruiting Deadlines/ how the process is workingPost deleted-no longer relevant---------------------------------------------------------------------...
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IB SA --> PE FT ProcessWill be working in the M&A team of an EB this summer (EVR/PJT/CVP) and would like to know what the process looks like for going from IB SA to PE FT at MF/UMM. Do headhunters reach out for FT positions or is it up to the SA to network and express interest in recruiting? Do these funds recruit exclusi...
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Upenn Econ or Rutgers UndergraduateOk...So what do I do. I currently go to Rutgers University and study Finance and Math. I got accepted transfer to UPenn Cas-Econ. My options are as follows... UPenn- Econ - 58k of debt total, payments look to be $700/month for ten years. Rutgers - Finance & Math - No debt or I could change my ...
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Should I invest in a financial modelling course before becoming an Analyst?Hi all, I will be starting a full time position as a first year IBD analyst next year, my question is if its worthwhile to do a financial modelling course before starting? I really want to do well and be a top performing analyst. As a background, I did not come from a finance related major, but I ...
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Senior Banker Comp in Canada?What can a VP/Director/MD expect to make in Canada? Generally do senior bankers make more in Calgary or Toronto?...
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Calgary or Toronto for IBHey everyone I had some quick questions about IB in Canada and which city I should be focusing on. Toronto being the financial capital of Canada would most likely have the biggest job market but I'm leaning more toward Calgary due to the cheap COL and housing. Also, I have more of an interest in en...
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J.P. Morgan 2019 IBD Video InterviewHi guys, sophomore at non-target here. I submitted my app for JP Morgan IBD 2019 yesterday and just got invited to do a video interview. Anyone else get the video interview? Also, will there be another phone interview after this or straight to superday? Any insight or advice is appreciated. ...
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Calgary IB any info?Hey everyone, I had a couple questions about IB in Calgary and how it compares to Toronto or the States. 1: Which school is the best for breaking into Big 5 IB in Calgary? Ivey is known as the best school for Toronto and the States but is there a better school for Calgary? 2: Is there a comp diffe...
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How to find bankers from non-targets?Hello all, I'm a major non-target student looking to network with bankers at BB's & boutiques in the NYC area. My first plan of attack before sending a mass of cold-emails to complete strangers was to look for other bankers who are from non-targets as well. I am having a little difficulty going ab...
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Which in door spot to take interview calls in midtown NYC?Hello - I am looking for suggestions of indoor space to take interview calls in midtown. Office conference rooms are not available. I am afraid to bump into colleagues if I use lobbies close by. Streets are noisy and cold. Any suggestions? Highly appreciate it. ...
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Top groups/firms for real estate restructuring?Recently took an interest in real estate and restructuring has been on my radar for a little over a year now. Wasn't able to find any real ranking of real estate specific restructuring practices. Banana for your thoughts?...
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Bank of America Merrill Lynch - Interview - Oil & GasHalf behavioral, half technical questions. I have a non-finance background, so I screwed up several questions about bond cuz they are not in the interview guide lol. But overall it was very easy. It's all about fit. Half behavioral, half technical questions. I have a non-finance background, so I ...
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JPMorgan 2018 IB Launching LeadersJust thought I'd start a thread for this as they begin sending out invites. Feel free to update this with offers, interview experiences, etc....
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Role of product group MDsFor career bankers, is it better to be in a coverage group than a product group? I feel like those MDs would have closer relationships to companies due to covering a specific industry. When a healthcare company wants to do an M&A deal or raise capital what role would M&A MDs or LevFin MDs play becau...
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Recruiting Dilemma - Sophomore InternsI currently face a dilemma that I’m certain plenty of other folks on here could relate to. I’ve accepted an offer for this summer with a BB as a Sophomore. For myself, the ultimate goal is to receive a return offer with this firm and to return for next summer. The problem arrises when realizing ...
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Best Industry's to CoverTitle of the thread explains the question. Which industries are regarded as the best to cover? Which are hot right now? Which look to be best for a long-term career (20y+ horizon)?...
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Robert W. Baird & Co. - Interview - TechnologyI would say the LBO model. I don't think other banks have an LBO test as such. I prepared a lot for LBO. I ended up using some WSO LBO prep test questions which were/are very helpful. My wife also bought (A really complex) LBO question set from a UK based company (from a website) which does the same...
Deutsche Bank - Interview - Investment BankingTell me about yourself. Tell me about a time that you worked as part of a team. How was the tax reform impact your current company? Why do you want to do investment banking? Why do you want to leave a senior role in your current company to be an associate at our firm? Tell me about a technology tre...
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Going to Amherst College next year... why are all the LinkedIn IB profiles former athletes????hey everyone, im a senior in HS about to graduate and im going to amherst college next year. im probably going to major in econ + something like history. im interested in finance for sure, not sure if it's IB or what, but somehow by the grace of god i landed this general rising-seniors diversity int...
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2018 FT Roommate Thread (NYC)Per forum title, looking for potential roommates for a summer 2018 start. Please PM with some details about yourself. Thanks....
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2019 J.P. Morgan Proud to Be SuperdayI noticed there wasn't a forum made for this. I applied around mid Feb. and received a link to do the HireVue last week. If you guys completed the HireVue, please feel free to share the questions with us! :) ...
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Morgan Stanley - Interview - OperationsI was asked about a time where I was told to do something which wasn't in my normal role for a candidiate and how would I respond to it. It was a difficult question because it wasn't scripted I think and wasnt it any of the interview prep or WSO material I had used to prep for but it was something I...
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PWP LA or BB regional office??Hello guys, first time posting but need some help. Got an offer to lateral into PWP LA (opening new office out there) or do I stay at a BB firm. At a regional office for the BB firm. Have family and personal ties to LA/West Coast but don't want to sacrifice career for it. Let me know what your tho...
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So I'm Probably Going to Get a Lot of Shit for This...deldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldeldel...
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Goldman Sachs - Interview - Private BankingWhat would you do with 1 million dollars? How would you invest it for your client? The question basically was asking if you knew how to be a good wealth/asset manager and cater to the needs of the client, and also tested your knowledge of the best securities on the street whether that be a certain s...
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Why is banking becoming more competitive?Why is banking becoming more competitive, given that more and more top students choose to go to startups in the Valley? Isn't the whole point of pushing banking recruiting earlier and earlier in order to snap talent early, before they've had the opportunity to consider other options? ...
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Full-Time IB Recruiting w/out InternshipHey everyone, I am a junior in college and plan to go through full-time IB recruitment this Spring/Summer, however I won't be interning in IB this summer. I have a 3.6 GPA at a Midwest Target School, interned in PE this fall, and have accepted a corporate finance internship at a fortune 500 company ...
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BB offer, fucked up grades MF recruitmentHey guys, I have a BB offer in London for SA after 2nd year. But even if I get return offer, it will be revoked since I really fucked up my grades. I know that there are many PE funds which recruit out of undegrad. But do you know any MF which recruit Undergrad students with BB experience but fuck...
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Checking in 6 years later [IB to MBB transition]Hi guys, Feinstein here. Short story is, a bit over six years ago, I posted on this forum regarding a career decision on whether to stay in IB or go to MBB ("Please Talk Me Out Of This - 2nd Year BB Associate"). I ended up going to MBB. It’s been six years, and somehow I remembered this post, so I...
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I’m back. CUNY to Banking. AMABeen a while since I’ve posted here. It all started a long, long time ago. 2006, by my count. Here it is 12 years, two home and three kids later. It’s been a hell of a ride. I started in ops making around $35k a year. I’ve added around $225k to that number since. I’ve done that by being genu...
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PwC PricewaterhouseCoopers - Review - GeneralistGood team. Slightly more relaxed than other middle market banks. Work from home culture is promoted.. Office was not very good. Employees were scattered in different conference rooms all over the floor. I think they have moved into a new office now....
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How do investment banks allocate analyst and associate headcount to different groups?Does anyone know what the process is for how groups get junior banker headcount allocated to them? For example: -- Do a certain number get allocated to groups them based on the # of MDs in the group (i.e. X analysts/associates per MD)? -- Is it based on projected revenue or deal count (i.e. this ...
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Citigroup - Review - Investment BankingHelpful HR, Friendly directors (most of them), Good events and networking sessions, Good exposure to execution and client calls.. The focus of the early training program could have been directed more towards the actual work, instead of generalist powerpoint/excel skills....
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Moving to SecuritizationHello, I'm looking at a job offer for a securitizations (structuring) role. I'm coming from a corporate banking job right now. How do those compare in terms of quantitative skills necessary, and what would an average day look like in securitizations?...
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Moelis LA vs Moelis NY vs Lazard NYHi, First-time poster here. Just wanted to get some insight on the above decision I am making. In regards to Moelis LA, some current information would be helpful. What is the lifestyle/culture like in comparison with the other firms mentioned (I know they all work hard)? How is dealflow at each?...
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Lazard - Review - Investment BankingGood deal flow, lots of responsibility from the get go, very smart people, some fun company outings,. Long hours, some groups have a hierarchal structure which makes it difficult to communicate with senior people ...
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Turkish Investment bankersI am a Turkish-American college student at a school in VA, who will be interning at a bank in Istanbul this summer. While I plan on spending my career in the United States, I would like to meet Turkish professionals or ones who have worked in Turkey to discuss transitioning and preparing for differe...
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Best Undergraduate Program for IBI am a senior very interested in getting into IB out of college. That being said, I have gotten into the following schools and would love to hear this community's insight on the best option strictly for IB. **Northwestern University**: I'd get an econ degree likely combined with the Kellog Financia...
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Goldman Sachs - Review - GeneralistGreat hours, and the number vacation days are plentiful. The office has a relaxed culture relative to the New York, San Fran, or Houston. For a generalist role, the learning curve flattens out quickly. Without exposure to the strategic rationale behind deals, adjustments, etc. the job becomes rather...
JPMorgan Chase - Interview - Mergers and AcquisitionsVery specific questions about every single step in the merger model. And even though the IB book by joshua pearl and the other joshua says to add amortization from the deal, you supposedly do not. You get asked about when to include additional paid in capital when calculating diluted shares in a dcf...
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PWP vs. Guggenheim IBDHave options at these two firms and am having a very hard time deciding. Could anyone provide insight on exit opps/pay/culture? I get the impression Guggenheim has more upside, but PWP is safer...It seems like Guggenheim has been rising fast, with their most recent class getting great exits...but ...
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Wells Fargo and Company - Review - Investment Bankingculture was great, team driven work, boss was always ready to help out when I needed it, going back FT. hours were bad sometimes, but that is expected with a busy season. Charlotte isn't NY, but fine place to live....
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2018 Houston Bonus NumbersFor people who have gotten their numbers, what are the Analyst or Associate numbers coming out for Houston looking like? BB or EB...
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Best Houston Banks for Exit Opps?Title says it all, which banks in Houston have the best buyside exit opps? How does this vary if you want Energy vs. Generalist, PE vs. HF, MF vs. MM etc? Are people mostly constrained to Houston or can they recruit for Dallas/Austin or NYC/SF/etc? thanks!...
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Graduating this month and beginning my SA position this Summer: Dilemma Hi WSO, I was lucky enough to land a SA position in IB at a BB in NY (yes, HR and the team are aware, agreed with my reasoning that doing an SA is the best pipeline to land a FT job in IB). Of course, my #1 priority is to get a return offer for this particular team, and work for this BB FT (they ...
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Barclays Capital - Review - Mergers and AcquisitionsGreat learning opportunities, mentorship can be found if effort is put in, industry leading deal experiences. Tough hours as most jobs in the industry, always a few bad seeds in terms of senior bankers, missed out on personal events...
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Greenhill vs HL RX vs MS vs BAML vs PWPFinished SA recruiting at a top target school and came away with these offers in NY. MS and BAML are generalist offers so I wouldn't know what group I'll be placed into. Greenhill & PWP are generalist M&A / RX offers. I like RX so I'm thinking between HL, Greenhill, & PWP at this point. Also, I th...
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Info interview with RX director; what to ask?I spoke with him very briefly at an info session at our school, and I think I showed I knew a fair amount about RX. I followed up and we're scheduled to speak Friday. I don't know what to ask him, since I feel like RX is a fairly different beast from normal banking....
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Lazard - Review - Investment BankingLazard was a tough place - like no hours but super interesting work and deal flow. Good exit opportunities. . Long hours were brutal. Managing directors did not interact with junior folks. Very strong hierarchy. ...
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Guggenheim IBD SA 2019 SuperdayAnyone have tips for the April 20th Guggenheim NYC Superday? This is for the summer 2019 Investment Banking internship. ...
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Moving from Corporate Accounting to IBI have been working as a Corporate Accountant for 3 years. I graduated from a very non-target school with a 3.2 GPA. Currently, I'm studying for L1 of the CFA. I would like to get into IB. What can I do to position my self to land an offer? ...
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*****2019 Houston SA Recruiting Megathread*****EARLY RECRUITMENT PROCESS / APPLICATIONS / INTERVIEWS / SUPERDAYS Hey guys. With this insanely early timeline and recruiting already under way, I wanted to establish a single place where all students can come come to share knowledge, questions, information, and concerns regarding Houston investment...
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Petrie Partners superday?Good morning, is it true that the Petrie Partners super day is happening today? If so, it doesn’t sound like I made it......
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Perella Weinberg Partners - Interview - Investment BankingYou did a case competition. Who are your teammates? What strategy did you pitch? Why did you pitch this strategy? Have you considered IPO? If you are doing IPO, how would you want to do it? How many percent do you think you should do? What are some of the potential issues if you didn't do 100% IPO? ...
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Introduction to Key Players that Lead to an EngagementHi, our firm was recently approached by a leading foreign company looking for JV partners to establish and expand their business in my country ("Home Country"). The CEO's (a very prominent man) head of business development (together the "Foreign Party") asked us to introduce them to key players i...
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*****2019 Summer Analyst IB Regular Recruiting Timeline Megathread Page*****REGULAR RECRUITMENT PROCESS / APPLICATIONS / INTERVIEWS / SUPERDAYS Now that accelerated recruiting for summer 2019 is coming to a close, I wanted to start this thread so that we could keep track of where each bank is at in the process. Feel free to share any relevant information including first ro...
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PJT Partners, Evercore Summer 2019 Recruiting Timeline ??I see on the websites of PJT / EVR and other similar firms that applications for most divisions (including M&A and RX) for US locations are already open. This is quite surprising since only JPM is open so far of all the BB's. Is this for accelerated recruiting, and are they evaluating on a rollin...
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*****2019 Goldman Sachs IBD Summer Analyst Megathread *******Megathread dedicated to the 2019 Goldman Sachs IBD Summer Analyst application process. March 25-28 were Insight Days in SF and Houston April 15 was the deadline for Early Action. July 1 is when they will open Regular. Right now its only Early Action applicants, so if you've applied early, plea...
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If I ever get fired in banking its because...CFOs who provide me with financial statements that look like something out of Jumanji. How am I supposed to work on the model when capex is in your pre-tax expenses and you've clearly had your audit done by El Pollo Loco. I drooled over working in M&A as an undergrad and now I regret not getting in...
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