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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ADVICE NEEDED!!!! IB or TrafiguraHello monkeys, I need your help, I have received two offers, one for an investment banking analyst position at one of the biggest local IB firms (Not a BB, although I would like to get into one soon) and one for Trafigura's global graduate program (I would have to relocate to Montevideo), I currentl...
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Top Liberal Arts Colleges for IBD OCRWhat are the best liberal arts colleges in terms of IBD OCR. I know Williams and Amherst are probably the best, and other NESCACs have some OCR, but I'm curious about people's thoughts or experiences regarding LACs....
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2019 FT Analyst Recruiting TimelineMod Note (Andy): 8/16/18 - Updates continue to roll in, make sure to check page two for the must up to date information. Haven't seen a thread on this yet. Since Summer Analyst recruiting has gotten underway, I thought it would be helpful to aggregate any and all information regarding full-time rec...
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The Best of Big4 IB?The big 4 accounting firms' MM IB advisory arms are commonly discussed on this site, but which has the highest notoriety/dealflow/comp (US only) compared to the others?...
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how is oppenheimer?How is IB at Oppenheimer? I know it's not the greatest, but wondering if it would still be a good place to work with decent exits? This is for Full-time, not internship...
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Wells Fargo Best GroupsDoes anyone know what the best groups are at WF for exit opps? I have heard LevFin in Charlotte is strong but what about NY?...
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Guggenheim Partners - Review - Investment BankingSenior management, solid work flow with some big deals, culture, motivating environment, good comp, gym in building . Work life balance, pains of a quickly growing company (pro as well), visibility to senior management ...
JPMorgan Chase - Review - Technology, Media and Telecom (TMT)Very laidback dress code, don't even have to dress business casual to work. A lot of camaraderie among analysts.. Some of the worst hours of any JPM group, and some higher ups are pricks to the analysts. Very high turnover, with many leaving after a year or less....
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Investment banker from state schoolHello Wall Street oasis, I have a question for you all, can I get into investment banking for a non top school like say a top 75 school or is it strictly Ivy League only. I don’t care where just any ib gig with a respectable bank is it doable?...
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Best schools for Chicago I-bankingHello Wall Street oasis, I have a question that is what are the best schools for Chicago I-banking BESIDES northwestern and u Chicago. I will be honest my grades aren’t the greatest and I won’t be able to get into either of those but what other schools could make it happen that aren’t super p...
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Citigroup - Review - GeneralistThey give you a lot of responsibility one you prove that you can handle it. A lot of learning opportunities are available (from all levels) as long as you express genuine interest.. The hours are bad and there is a general lack of "care" for the junior level. More specifically, there are a lot of in...
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Lazard Middle Market Prestigeprestige, exit opps, hours, etc?...
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CS vs BAML vs Barclays vs CitiCan someone provide some insight on the ranking of these 4 banks in terms of PE exit opps? I know it varies by group so maybe a combined group ranking for these 4? Thank you. ...
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Top Investment Banks in each industry 2018I have not seen a comprehensive list of the top banks for each industry. So many people new to the banking industry have this "GS is king" mentality without realizing that GS is outclassed in many industries. I think it would be really helpful to have one thread that lists the top 3-5 banks in each ...
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Morgan Stanley 2019 SA Megathread Figured since MS just officially opened their applications for summer 2019 I’d start a megathread to keep track of updates. Has anyone applied yet?...
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Levered vs. Unlevered Free Cash Flow Differenceusually i know unlevered FCF's are used for DCFs. but why do we use unlevered FCFs instead for DCF's and when are you supposed to use levered FCFs? What is Free Cash Flow? Free cash flow is a measure of how much money is available to investors through the operations of the business after accounting...
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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? UPDATE: HireVues were sent out on Friday, Apr. 20th for Early Action timeline i...
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Big4 M&A advisory consulting vs. IBI am wondering, for an MBA student looking to make a transition to PE in the long term what is the best course of doing this (without prior PE/IB exp)? ***Would experience working at a Big 4 in M&A Advisory consulting or strategy consulting be similar or equivalent to experience at a BB IB? or EB? ...
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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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Practice in ModelingHello Everyone, I know that there are sites like macabacus that teach you how to create models, but are there sites that have questions and solutions for practice, or is that not really a thing? Thanks. ...
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Barclays Capital - Interview - Investment BankingHonestly there wasn't much. Only one question really tripped me up. -if you could only have 1 number from a company's financials to evaluate the business what would you choose? -they asked specifically about the management of the investment bank - they asked why not larger American banks, i.e. why...
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Death from Overwork (Karōshi) in FinanceAnother [heartbreaking story](https://www.wallstreetoasis.com/forums/summer-analyst-dies-at-lincoln-international) about an intern that passed away after working long hours just hit WSO and I'm thinking why does this keep happening and what can we do to prevent it (or at least make it more rare) as ...
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Thoughts on Transferring to Increase Odds of Breaking into IBDI'm wondering about people's thoughts on transferring to increase the odds of getting a job in IBD. Is there a big difference between transferring after the first or second year of undergrad? Also, if the plan to transfer is solely based on a better chance of a job at a BB/EB/Top MM and has nothin...
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Credit Suisse 2019 SA MegathreadFigured that some of the BB's already have their threads but not CS. Post any updates that you guys have about Credit Suisse's recruiting timeline (especially NY)!...
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Lying About SA Return Offer. What Do I Do?Hi All, I’m totally stumped. Last week my SA internship ended at a decent MM in SF, and I was declined a return offer. When gauging why, I found out the reasons were twofold. Firstly, I did not fit the culture of the specific team I was in - I performed well technically on the job and got along w...
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Macquarie Superday PrepHey guys, I was recently invited to a superday with Macquarie Capital(IB) on Friday. This would be my first one so I am not sure what to expect. Coming from a liberal arts background, I have very limited knowledge when it comes to technical questions. What can I do to prepare in the next 3 days? I h...
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Citi IB Group Reputation?I got an offer for Citi IB SA and I was curious to hear what the consensus was about Exit Opps and Reputation for some of its groups. I am interested in Media & Comms, M&A, and Industrials, but wanted to hear what other people think. I know for M&C it’s not as strong as the boutiques that do it li...
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SaaS modelling practice/TMT recommended?Would appreciate peoples recommendations on modelling resources/guidance for SaaS/Tech area. Happy to compensate if worthwhile...
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2019 Summer Analyst Program for Hong Kong/SingaporeAs some of the firms have already started accepting applications for 2019 for HK/SG, I thought it's the time to start this topic for those who are specifically interested in working in HK/SG. What's your background? What division(s) are you applying (not limited to IBD)? ...
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Rothschild - Interview - Investment BankingNo difficult questions. The typical walk me through a DCF/multiples. Some accounting questions. I prepared by reading the vault guide and I think it was enough, They asked about recent deals: which one I found interesting and why? They asked behavioral questions like: tell us about you were in team ...
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Associates who started as analysts: Why did you stay in IB?To the associates who started as analysts at their investment bank, why did you stay? Why not leave for buyside, corp dev, etc. after your two years? I'm genuinely puzzled by this, which is why I'm asking. I did an internship in banking, and worked in banking as a full time analyst for 3-4 months o...
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RBC M&A (NY)Does anyone know what the reputation of this group is? What the culture is like, how does the pay compare to the rest of the street, and what the exit ops are like? Thank you!...
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JPMorgan Chase - Review - Equity Capital MarketsLoved JPM - high quality people working on best accounts. . Wish there were more mobility opportunities ...
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What's your favorite banking phrase or lingo?Today I saw an analyst try to talk to an MD about working capital adjustments, and the MD went "Don't teach your father how to fuck, kid", which is something he usually says when we're showing him stuff he already knows. It always has us cracking up. That got me thinking about other phrases we throw...
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Training the street @ boutiquesI am a rising sr interning this summer at Evercore/BX/Laz/HLHZ and wanted to know how Training the Street works? What exactly do they go over etc? Just want to be informed/prepared before training starts. Thnx ...
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Lawyer regretting not having gone into IB - am I wrong?Could've done both. And would've done well in both. But feel like IB pays way more than lawyers. Yes am aware that both industries have a wide salary range but I'm talking about those top-tier salaries (but not those gross outliers). I am at a top tier law firm so I know what lawyers get paid. I've ...
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Final year student - SA in LondonHi everyone! I'm a final year student doing an MSc in Finance at a European target uni with 2 summer internships on the background (BB corporate banking and European low tier IB). I should be graduating in July 2019, but more likely targeting September 2019. I could even postpone graduation to Decem...
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JP Morgan Securities - Review - GeneralistThe compensation and culture are both great. Enjoyed working with my fellow colleagues. Very collegial atmosphere.. The work hours are terrible. Minimal work/life balance. Struggled to find time to work out and see friends....
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Bankruptcy law books relevant to restructuringsLooking for book recommendations that could serve as a good introduction to bankruptcy law, ideally with a focus on how it is relevant to restructuring. Many thanks....
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Tools of the Trade: Pro TipsStarting this up to compile best-in-class list of banker tools and pro-tricks: 1. Macabacus [dot] com -- best online resource for financial modeling (hands down). Most of it probably too advanced for banking, but sets the industry standard 2. BamSEC [dot] com -- best way to browse filings -- even i...
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Raymond James HirevueHas anyone gone through the RJ Hirevue? Similar to Goldman? If anyone has any information, please share....
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2019 SA Sophomore Internships ThreadRight now it does not look as if there is a thread going regarding 2019 Summer SA positions specifically targeted at current sophomores so I intend for this thread to serve as a tool for all of us regarding this. Down below are the programs currently open to those graduating in 2021 that I have foun...
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BAML SponsorsAnyone have insight on BAML Financial Sponsors group? (NY office) What kinds of deals do they do/culture/exits?...
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Being Understaffed as an AnalystHi all, Long time lurker and made a burner account. This site has always had a ton of great advise and useful information which ultimately helped me get a job in IB, so I figured I would post my situation. Anyway, I am currently in my second year as an analyst in a non-NYC or SF location in a cove...
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BAML 2019 SA Megathread Hey! I haven't seen a megathread for BAML 2019 SA yet, so here it is. BAML applications open July 1st. Post here if you have any updates! ...
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Evercore FT 2019 Super DayHas anyone heard back from their full-time super day from Evercore for M&A or RX? How many spots do you think they have open?...
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FT Partners - Fulltime RecruitmentHey all, making a thread for those applying to FTP (full time). Seems relatively early against many other shops - where do you guys stand in the process? Currently have a first round phone interview coming up myself, would be great to get a better picture. Also would be helpful for anyone who has ex...
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The Front Office of a Back Office is a Back OfficeHey guys, The question I want to ask is whether audit at a Big 4 is actually considered FO in the exit opportunity sense and not just by pure definition. I actually worked for audit over the summer and definitely felt that it was more BO than FO. By definition, FO is client facing and revenue gener...
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Morgan Stanley - Interview - GeneralistAsked about a business transaction of interest. Luckily I had read WSJ. Timing was very tough. Otherwise predictable. I just recently recorded the HireVues for MS and from what I've read in here and what I just saw, there are no set questions. I received one questions asking "Talk ...
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Please help me improve my resumeHi! I would like you guys help me tear apart my resume! I am mainly interested in a career within consulting or IB but I haven't excluded other industries. Be as honest as possible: please focus on content, format, grammar etc. And also, since there is nothing I can do about my existing experiences...
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How to use an offer to leverage another offer?So I recently received an offer on Friday from a lower BB (DB/UBS/WF). I want to see if I can email some other firms about the offer to speed up the process. However, the offer explodes in a week (this coming Friday). I looked to see if there is a template for emailing these other banks but I couldn...
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Lying about deal experience??In my previous internship I got mostly stuck with research and BS work with no real deal related experience. However the team was very active and worked on multiple transactions while I was there. The firm isn't IB but transaction-focused; I am currently trying to recruit for IB and deal experienc...
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Mesirow Financial - Review - Investment BankingNot terrible hours. Good culture would recommend to a friend. Good deal exposure and deal flow, lots of work with directors. Pay is a bit under the market value, not great exit opportunities could provide a better platform for younger analysts....
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Associate/VP level Salary for Corporate Banking - SFO areaI am negotiating my salary with my employer and hence this specific question. Any help is much appreciated. I got promoted from Associate position recently, however my new job description is Assoc. Director. I am being asked to shift to San Fran with the tech portfolio. Given the living costs there ...
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What’s the WORST Pitchdeck Error You’ve Ever Seen?I’ll start. The client’s 10-year financial projections (based on user count) were on the basis of exponential growth. And by the time he got to year 10, he didn’t have to forecast anymore because by year 8 he had already attracted 1.26 Billion Users for his app, and was raking in $636B EBITDA ...
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Mizuho Prestige/Exit opps?Currently a rising senior in college, got a full time Investment Banking offer from Mizuho Bank in their DCM group in NY and wanted to know 1) how prestigious the firm is compared to the BB/EB firms and 2) the possibility of exiting to MF or Upper MM PE firms. My goal is to end up at Blackstone/Carl...
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Wells Fargo and Company - Interview - Investment BankingThe questions were pretty straightforward. Asked about my background and deal experience. I have a background in private equity so they asked why are you interested in investment banking. They asked about a time you had to go above and beyond in a task. Superday technicals were straightforward. What...
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How does bad debt expense flow through 3 financial statements?How does bad debt expense flow through 3 financial statements? can't find this question in the guides...
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Non-Tech SF Groups: Exit opps, prestige, general thoughts?Haven't seen a lot of threads on non-tech groups in SF though SF usually are the BBs' second biggest offices in the US (except maybe chicago). e.g. GS WRA (west regional advisory), MS SF sponsors, JPM HC etc. What do they look like with regards to general prestige, exit opps into PE/HF, and genera...
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Goldman Sachs Virtual Insight SeriesBeing that I was ineligible for all diversity events, I registered for the Goldman Sachs Virtual Insight Series, which seems to be a virtual networking event. I just received the e-mail for the HireVue, with one question in a separate e-mail. The main e-mail says the interview length is around 10 m...
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Citigroup - Review - Corporate BankingThe company's culture was excellent. The opportunity and exposure to meaningful work was abundant and seniors were very encouraging on giving feedback.. Some of the work was very system specific which felt tedious at times and did not add any value intellectually....
National Bank of Canada - Review - Investment Banking- Decent pay in recent years - Seniors have changed in the past two years from BB or large Canadian banks . - REALLY bad hours in certain groups - Old school banker types / boutique-groomed MD's ruin lives with crappy deals ...
Simmons & Company International - Interview - Oil and GasWalk me through the 3 financial statements if you sell a product with a price of $20, COGS of $10, and 40% tax rate. Why oil and gas? Why Simmons? Where does Simmons rank on your list of banks you are interviewing with today? Know everyone's names, and remember people you've already met. Why wouldn...
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Why Banking Over Private Equity/Hedge Fund? For those of you who chose/want to remain in investment banking instead of moving over to the buy-side at a private equity firm or hedge fund, what are your reasons? Why would you choose banking over PE/HF? Thanks! ...
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Credit Suisse - Review - Investment BankingGreat work life balance and very collegiality enforced in the culture throughout the firm, although varies based on office location.. Some of the people that work there aren't very friendly. However you can find such personalities just about everywhere you go...
Goldman Sachs - Interview - Investment BankingIn the hirevue, there were some situational questions that I did not expect. I thought it would be all behavioral. During the superday, they asked a standard question about time value of money (take $100 now or $10/yr for 10 yrs), first with dollars and then with the Japanese yen. The trick about ...
Moelis & Company - Review - GeneralistPeople, Culture, work, deal flow, the actual work you do is meaningful and the experience is second to none.. long hours, senior team does not always see what you do, lack of understanding when it comes to communication...
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Summer 2020 Recruiting Has Started.. (See Attached)I applied to a certain bank for SA19 in June. It's now only two months later, and I've just applied to their SA 2020. Am I reading this wrong or am I misunderstanding the app? This is pretty retarded - I applied just in case. ...
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Houlihan Lokey - Interview - Investment BankingNothing out of the ordinary. Asked me about recent transaction which led to further questions about the industry and reasoning behind company acquiring (energy industry). Know general trends for industry you are applying to. Also asked me about the history of the firm and standard techincals you wi...
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Akuna Capital Jr. Trader Phone InterviewHey Guys, After clearing math-sequence test and personality test round. I have my next round phone interview with trader (may be technical round) next week. What should I be expecting? Anyone who had their phone interview with Akuna capital for Jr. Trader role, your insight would be of great help. ...
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Technology Banking Trends Hi everyone, I have an interview coming up with a bank in silicon valley - I know next to nothing about technology, so can yall help me out here? I just want to get up to speed on current trends and maybe some general info about SF cultures. Thank you! ...
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Background Check for unpaid part-time internship experienceI got an offer from a BB and am currently undergoing a background check. I was not a typical finanical background for my undergraduate so I did not get a summer internship after finishing my undergraduate. during that summer, I did an academic research with one of my professor from school and also a...
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What type of IB banking job is this?Hi, I am interested in getting into investment banking. I have come across a job opening which is very ....peculiar. It sounds very administrative yet the job title is "Analyst investment finance,private markets." I need a more educated opinion on this and it won't let me post links yet so pleas...
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Goldman Sachs SLC 2019 SA Hi Seems there's already a thread for GS 2019 SA but guess we'll need one dedicated to the Salt Lake City. Heard they are trying to expand talent base these days. Semi to non-target here but a target school for GS. Would appreciate if anyone could share updates on interviews/timeline!...
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Received a Full-time Return Offer... Leap of Faith?I recently received a FT return for a lower tier BB in NY. I enjoyed my summer experience, but I'm concerned I won't have the exit opps I'm interested in coming out of my analyst rotation. They've given me 2 weeks to accept; I have two first-round FT interviews lined up with Tier 1 BBs (and likely 1...
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Who do you know has had the most unconventional journey to IB?IB seems to have a pretty conventional pathway from undergrad to a FT offer. You intern in something finance-related before junior summer, you get the junior year internship, and you either get a return offer or you recruit for other FT offers. I was just wondering if you guys personally have had or...
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Lazard 2019 SADoes anyone have information or insights on Lazard's 2019 Summer Analyst recruiting process? Please share below!...
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BAML Palo Alto SuperdayHi all, Did anyone else get the invite for the BAML PA super day this friday? Also, any insights re: how far along in their process they are (ie, how many spots are left) would be appreciated...
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BMO Capital Markets - Review - Investment BankingExcellent Culture Great client reach Industry leader in Nat Res Boutique feel with a bulge bracket client base. Despite being an industry leader in North America, the brand name isn't quite as strong in Europe yet....
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Pro-forma income statement model for interviewThis might be a dumb question but I searched around and found no related answers: I am building a pro forma quarterly and annual income statement model that covers 2017 and 2018 as requested for an interview. I am familiar with 3 statement modeling, but the difficulty arises when they requested tha...
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Wells Fargo and Company - Interview - Investment BankingMost of the interview consisted of fit based questions. Wells really focuses on hiring people who are personable and can get along with others. For this reason, most of the interview was focused on getting to know me and figuring out how I work in certain situations. Questions included: Why Wells, W...
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Barclays Toronto UpdateCan you guys please share any insight you may have on BarCap Toronto? Whether it be comp / culture / exits related, that would be amazing! Thanks...
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Piper Jaffray - Interview - N/Aphone call with human resources was very straight forward- why banking, why middle market, tell me about yourself had a phone call with an associate to learn more about the san francisco office/consumer group tell me about yourself, talked about current summer internship experience, various behavior...

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