Silver BananaTopicReplies
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WSO Hall of Fame: Investment Banking Forum

WallStreetOasis.com

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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JP Morgan Investment Banking Junior Analyst Full Time Program

lilmosey

Currently a senior at a semi-target school and completed a summer IB internship at a lower MM firm. I heard about the investment banking junior analyst program for JP Morgan, and I was wondering when recruiting for this full-time program would start. Anybody have any insight? Thanks!...

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Accounting Jobs that pay 6 figures out of college

EliteStudent11

Why do people keep telling me they know accountants that make 100k+ right out of college. Pretty sure that’s not a thing. But it’s not like you can call these guys out on their bull shit to their face. Anyone have any data points?...

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Investment Banking is Broken

icantdothisanymore

I just left IB and went entrepreneurship way, so this is a bit of a rant post and a throwaway account, but felt like I need to share. With all do respect to hard-working individuals out there - investment banking industry is broken and absolutely worthless. The advisory side is the most useless, pa...

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Entering Investment Banking Older

bobste

This also applied to private equity boutiques that raise capital. I have worked in asset management and treasury, I have also working in consulting for commercial real estate. I have developed a substantial network of hnw and uhnw investors. Some of these are personal some business. I believe I can ...

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Roast my Networking Call

youngling

Hello WSO community, I had some kind Investmemt Banker respond back to me a week ago and he gave me the go ahead to call him for an informational interview in the near future. I've searched hard throughout the networking guide and around the site and I feel as if many, many of the networking ques...

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Piper Jaffray: Sweatier Than Ever in 2018

PJC Truther

Takeaway message: Piper Jaffray (PJC) is a massive sweatshop. Probably one of the worst MMs for work/life balance from what I’ve seen and heard. Imperial Capital is the only other MM bank I’ve heard that is worse, and I guess Lincoln now that somebody died. Background: Created this new acco...

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2018 /2019 Commercial/Corporate Banking Bonuses

betanowthanlater

I haven't seen too many posts on what bonuses and salaries are like nowadays since the 2017 thread. Curious to see if the pay bump at that associate-level affected Corp Bank or Comm Banking? Here are the numbers standing since the last update: Corporate Banking : A1: $85k + ~$45k A2: $90k + ~$55k ...

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Notorious Investment Banking Groups and War Stories

DealTeamSix

Monkeys, What are some of the most notorious "Groups" on the street? This can include massive jerks, (overly 100+ regularly) abusive workloads, or just old school street mentalities. For example, I've heard JPM HC is one of the hardest worked Groups on the street. With that being said, feel free t...

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MD ignored my emails but got hired by his boss

NONAME22222

I got a summer internship on the trading floor. I got a tour on the trading floor this week and I saw one of the MD who ignored my emails. To make it worst I spoke with him before and he started ignoring my emails after inquiring about the summer internship. The MD (who is not my boss) will sit acr...

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Should I even try to get into IB?

mthomas711

Going to Rutgers as a finance major, should I even set my aspirations towards IB? Is it possible to get in? Basically, if I get a high GPA and network my ass off - is it likely? Seems like Rutgers offers a lot of clubs to connect to alumni, and I found the amount of alumni on LinkedIn surprising. B...

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How much of an impact does your GPA have on internships/hiring?

mthomas711

How of a factor do you think your college GPA has on IB hiring? What if you’re from a target versus a mid-target? What sort of gpa is competitive from a non target versus mid versus a target?...

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Video or In-Person Interview Option

CorporateOrInvestment

I have the option for a video interview (Skype) or in-person interview with a small firm this week. I understand that it is obviously better to meet the team in person, however I am a 6-hour drive from their location and they are not offering to pay for my transportation. Do you guys think that tak...

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Energy sector having the highest M&A fee?

Wall St. Thinker

Here are some data from the Financial Times. I'm surprised that the energy sector has the highest fee, even more than tech. Why do many people think energy is shrinking? Any thoughts? Link: https://markets.ft.com/data/league-tables/tables-and-trends/mergers-and-acquisitions...

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Is it worth it to try to lateral from BB SA to a "better" BB FT?

ybanKing

Title is pretty self explanatory but a bit more of context: I'll be doing my IBD SA at Barclays in London this summer. Question is: is it worth it to try to lateral FT to American BB's that are more prestigious (like MS/GS/JP or even Citi or BAML)? I do want to pursue Masters or MBA at a good univ...

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Which of the below options will make my application for spring weeks stand out more?

Bigpaddy27

Hi, I am at a target school in the UK on the first year of a four year course. I applied for spring week this year but was unfortunately rejected by every institution despite a fairly good CV. The main problem for me was failing the online tests as fluid intelligence isn't my strong point so I will ...

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How is IB different from RB nowadays?

glinfico

With everyone doing everything now, how can you differentiate an Investment Banking from a Retail Banking and all the other branches of Banking? ...

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Intern Overtime

ResumeAttached

I'll be interning at a BB this summer as a summer associate and noticed my contract says we're eligible for overtime beyond 40 hours a week. Just wondering if banks actually pay overtime to interns? Seems like you would make a bunch over the summer....

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2018 /2019 Bonus Discussion

AllBurnedUp

That time of year again. Banks have finished their fiscal year and should be close to payout time (BMO / RBC / others?) Thought might be good to start a thread to see where comp is shaking out. I realize WSO has a database, but in an effort to keep things blinded and semi-real time lets post here....

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How can you take it?

donnyboy101

I've found finance to be completely unbearable. The pay and career development is excellent but the level of work, expectations, and lack of control over your life is not worth any amount of pay. Senior employees have no guts or real business skills, or they would have gotten the hell out years ag...

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Is investment banking full of rich kids?

dontbugme

It seems that to get into investment banking, you must: - apply early - have been to a target school - in order to get into the target school, excel in high school, have money and you must know which schools are targets for investment banking It seems like that in order to tick off all these boxes,...

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London Compensation 2018/19

throwaway531531

Hi, given it is now bonus season for most banks I thought I would start a thread on compensation figures for London to allow us all to compare and see whether we are paid street or below/above. Thanks Bank: Boutique Division: IBD Role: Analyst 1 Stub: 7 month - joined in June with end of year revie...

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Finance worth it if you aren't on the HF/IB/ER Track?

Milorg

incendiary minds unite…Should someone who hasn't gotten into FO/PE/HF bother continuing the finance world? PE/FO/HF work wonders but a layman/failed IBD analyst wonders what's in it for the corporate stiffs who make 80k doing back office homework for bigwigs. Be gentle with your shitthrows...

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Cold email to break into IB

Roulin

Do you think it is worthwhile to send cold emails (with the resume) to VP/MD levels ? I am currently working in M&A at a big 4, and I am actively looking for a move into a leading bank/top boutique. Thanks in advance....

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Effect of mid-year convention on terminal value

TheZhanMan

Hi guys, For the question: what is the effect of using mid-year convention on terminal value? This is my answer below, I was wondering if you guys could critique my thinking. For Exit Multiples Method - no effect because you assume company is sold off at the end of the year anyway, so terminal val...

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Rotman Undergrad becoming more of a Target?

leveragedleverage98

I am currently in Rotman pursuing IB and browse this forum often, but many of the threads regarding Rotman's undergrad prestige and status are from 2010-2013, which was one to four years after the split with UofT and it becoming a real program. I know Queens/Ivey still place more in to banking but a...

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Industry/coverage groups or Products groups (m&a)

isabellagüler

I’ve seen a lot of posts where people are brief and choose product groups over industry due to M&A but not give thorough explanations. I know it depends on the person and bank, but generally speaking, what do you prefer and why. Also, what does each entail generally. Thanks!...

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Houston Investment Banking 2019

Klaud45

Wanted to start a discussion and get some opinions on the current state of banks/boutiques across Oil and Gas/Energy, especially since DB recently closed down its Houston office. I've heard that, as far as the BBs go, Barclays and Citi are considered some of the best for O&G, over GS/MS. EBs like E...

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Best Investment Banking schools in the Northeast

mthomas711

Excluding Harvard, Princeton, NYU & Yale Preferably those that are transfer friendly, and obviously have solid alumni networks. Provide a ranking if you can....

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Dutch IB in the US

IvyGuy

Can anyone speak to how the Dutch banks do in terms of deal flow, exit opps all other relevant info in the US. Also curious as to where they are located ie CHI/NYC or smaller cities. Saw ING had some things open, and know that Rabobank and ABN Amro have offices. ...

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Invest like the Street

brit1892

Has anyone heard of Invest like the Street before? If so, what are your opinions on it? I am interested in it, but it seems somewhat sketchy at times, and I would appreciate some input....

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Morgan Stanley 2019 Freshman Enhancement Program

pare

Didn't see any other posts related to this insight program. Did any of you guys apply and to which groups? I applied to both the Institutional Securities Group and the Wealth Management program but only got a HireVue for the Institutional Securities Group so far....

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Blackstone Future Diversity Leaders 2019

jfjioaw

Anyone get an interview yet? We hear back from the program before February 15th, but I still haven't gotten an interview. Thanks!...

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2019 Morgan Stanley Inside Access Day

sophgoat

New thread. Feel free to share the interview questions here. : ) I'm from a target school but mainly applying for this program to practice my interview skills lol...

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exit opps - shareholder activism group

CaliforniaBankerrrrr

Hey all, just wondering where associates/2nd year analysts typically exit to from shareholder activism type IB groups. I know activism defense advisory is offered by some BB and EB banks and was curious if most stay in IB or eventually try to land at an activist fund or in PE. ...

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Should I transfer from my T20 semi-target to a stronger target?

aspiringbanker2019

I'm a freshman at top 20 non-ivy semi-target (think Vandy/WashU/ND) who has come to realize that breaking into EB/BB in NYC is a long shot from this school (w/o special connections or extreme networking) despite its academic reputation. I'm also not very keen on the school's location or student body...

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Take quant dev offer or try for banking?

mpa_rf

I'm a 4th year CS and math undergrad with some offers for software engineering, quant dev, and research roles. My best offer is from a well known HF for a quantitative research role (first year TC is 400k) which is well beyond my offers from regular Big N software companies. But I've heard that peo...

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A VP level employee submitted my application through the referral system, how likely will I get an interview?

SUMMMERRR

I know it's always better to have your resume forwarded to HR, but a VP at BB is referring me to another group by submitting my application through the referral system. I'm wondering how likely will I get an interview if I get referred by a VP on the system?...

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STRH Investment Banking Sophomore Summer Analyst Position

UgEcon

Hey guys, I was wondering if anybody had any insight or experiences with the STRH sophomore investment banking position. I recently received a first round interview and have no idea what to expect out of the interview or position. Thanks...

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Please Help Me Understand Corp. Finance / M&A at the Big 4

achille_17

Hi all, As the title says, I would appreciate if someone, preferably who has worked at one of these firms for a few years, could take some time to explain the different divisions within the Big 4 firms, with a focus on Investment Banking / M&A. I have read a few threads on WSO and also on other sit...

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The endless pursuit of money

OverCompensatedTeller

Since this post will probably get a ton of MS, I will start this with a disclaimer. There is no judgement from me, I honestly just have a genuine curiosity of what I am about to ask. Disclaimer: I fully understand it is within everyone's legal right to earn as much money as humanly possible. I am i...

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JPM CIB Risk

Nit14me4

I'm just looking for some updated information about CIB Risk at JPM. Most of the other threads are pretty old and inconsistent. I'm a sophomore who is only eligible for the following groups (summer intern): Country Risk, Insurance, Natural Resources, Public Finance, Wholesale Credit Solutions, Who...

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Switching IB coverage groups / geography?

PEPlaceholder

Hi guys, I am trying to understand how difficult it is to switch coverage groups at a bank after starting as a full-time analyst in an office, as well as what is the typical timeline? Lets say I start in a certain group such as GS industrials / Nat Res and want to go to e.g. TMT, how long do you ty...

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Funniest things MDs say

DCF_king

List some of the funniest phrases your MDs have used Ex: "spin your wheels" "bat this around internally" ...

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Best desk at Nomura Hong Kong (Markets)

Beabs

I will be interning in Nomura's Markets Division in Hong Kong. They recently sent me an email asking for my top 3 desk preferences. I have heard that Nomura is very strong in Fixed Income in HK/APAC. Any advice on the best desks/asset classes in Nomura? Thanks in advance!...

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An Honest reflection from my first Summer Analyst role: The Good, The Bad, The Ugly (mainly bad and ugly)

sell-syde

I come from a target West Coast school. I say target because being on the West Coast, there are only three name-brand schools you can land a job on at an i-bank on the West Coast. Those name brands from my POV are Stanford, Berkeley, and USC. I go to one of the first two. Hats off to the Moelis - Cl...

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GS Veterans Integration Program (VIP) 2019

vet_1

I'd like to start the 2019 Veteran Integration Program thread this year. The application just opened up and I plan on applying in the next week few weeks. Taking this content directly from last year's post - In past years the application entailed an online resume screen, followed by a Hirevue inte...

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Why don't Investment Banks work with Unicorns?

sell-syde

Why do investment banks raise capital? If Rivian Automotive can have Amazon lead a $700m capital raise, why on God’s earth would they hire a bank to lead the raise for them? It seems like the Unicorn Start-Ups wouldn’t want to approach an i-bank to lead a round for them if they have already secu...

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Soft Skills in Investment Banking

focus.

Hi, I would like to know what are your thoughts on soft skills in IB. Which are the most important? How do you improve emotional intelligence?...

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Top Chicago IB

w s

Background: Notre Dame sophomore looking into Investment Banking internships/jobs in Chicago. Was wondering if there was a list or if people had suggestions of top IB firms and groups to start networking with....

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Ziegler Corporate Finance - Chicago

anonymooose33

Hi All, Anyone have information on Ziegler in Chicago? Specifically curious about anyone who has worked there and knows (i) Reputation of Corporate Finance/Healthcare division (ii) Is this Investment Banking?, (iii) Compensation from Analyst to Associate (iv) type of work that's done at Ziegler/und...

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Macquarie Summer Analyst 2019 Process

NYC.to.BOS.to.NYC

Can anyone who has either gone through the process or has insight into it be able to provide some background into their process for Summer hires? It seems like applications were released quite recently so I should actually be able to considered before first-round invites are sent (again, might be wr...

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How well will the Corporate Finance Institute FMVA (Financial Modeling & Valuation Analyst) courses prepare me for my SA role?

GQW

Are the CFI courses, specifically the financial modelling courses, appropriate to prepare me for the summer? Or are courses such as Wall Street Prep, Training the Street, and BIWS much better uses of my time/ more focused towards IB. ...

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What outside vendors make the IB job more efficient for you?

KingKongInTheTrunk

Besides, your party-favor guy and Seamless, curious as to what kind of 3rd party resources everybody uses in IB to make the job more efficient? What kind of tech, databases, plug-ins, outsourcing, etc. people are using? ...

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What do I need to do if I want to break into IB from Consulting?

dragonblade

Wanted to see anyone has or know of anyone that has made the jump from FT consulting to FT IB, 1-2 years out? What was the process like? Thanks in advance!...

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UK IBD M&A 12-month intern tips

thehipsterwannabe

Dear all, I have received an offer for a 12-month IBD M&A internship in London; I will complete this between the 2nd and 3rd year of my degree as a placement year. I have no experience in finance and I study an unrelated subject (Chemistry). I learnt about M&A through reading online, but I have v...

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2019 Summer Analyst Program for Hong Kong/Singapore

Beabs

As 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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Key Banc Capital Markets - Investment Banking

Thomas-Heyden

There hasn't been anything on Key Banc Capital Markets since 2009 so I wanted to see if anyone has a more recent status. Are they a pretty well respected MM? Good exit opportunities to BB banks or PE? Competitive pay & bonus? ...

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Sophomore Summer Internship to SA 2020

berkeleybear2021

Hey all, Sophomore at a semi-target. Wondering if an internal audit internship at a large financial services firm (KKR, Blackrock, etc) or corporate finance internship at tech company (Visa, PayPal, etc) would be better for SA 2020. Already have a boutique IB remote internship under my belt, wonder...

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AMA: Former no-name IB Analyst --> Data science/Artificial Intelligence position at large quantitative hedge fund

GeorgeWashington519

Hi All, I’m an ex-IB analyst at a no-name boutique in a major city. I recently left my job at the boutique after a year and a half for a new position in data science/artificial intelligence at one of the largest quantitative hedge funds in NYC. My career path sounds a little bit strange to many p...

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2019 Goldman Sachs Exploratory Program HireVue

frankxie

Hey guys, I just got the HireVue invite yesterday for the exploratory program. Has anyone finished it? How is the question? ...

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Difference between JP Morgan and JP Morgan Chase

HopetoBank

I've always thought that they were the same. Apparently not. The big money/main jobs are at JP Morgan (investment banking) and what goes on at JP Morgan Chase? Are J.P. Morgan and J.P. Morgan Chase the same? Although the naming of J.P. Morgan and J.P. Morgan Chase are very similar, they both of...

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SA and Full Time Recruiting 2020 thread

John-Jacobs1

Wanted to better organize the 2020 recruiting here instead of my previous post. @AndyLouis" Current 2020 SA Info: [quote="champagnepaki"] Not really. Sure the WSJ article from this past Fall brought awareness and the process will probably be a little slower this year, but all of my contacts are i...

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AMA: Non-Target -> 3rd Year Analyst MM IB

NuclearPenguins

Unfortunately turning comments on a pitch deck today so I have some time in between turns to do an AMA. Thought I'd give back to the community here now that I'm wrapping up my 3rd year at a MM. Definitely wouldn't be here today if it wasn't for WSO. ###Quick background (Non-Target -> 3rd Year Analy...

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Leveraged Finance Lateral

ibankingmonk1234

How difficult is it to lateral from a market-based leveraged finance group to a modeling intensive leveraged finance group?...

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Private Capital Advisory (Secondaries) interview

wabo22

I have an interview next week for the Private Capital Advisory group at a MM/EB (Lazard, Evercore, PJT). I know these roles tend to be less technical than M&A/RX groups; beyond typical fit/why this role questions, what should I expect to be asked in terms of technicals? My current role is less mod...

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Best groups in BMO NY

Hehetao

Didn't get any responses, so I will try posting it again... I am planning to join BMO NY as a summer associate. It is a generalist offer. However, would anyone comment on the best groups in terms of learning, career growth and deal flow? Thank you very much!...

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Banking/Investment Competition in Europe in Spring 2019?

lowkeyexcited

Want to ask if there is any banking/investment competition out there in Europe? I'm currently spending a semester in Paris and want to further improve my knowledge and build my resume. ...

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