After your first month into your IB analyst stint, how easy should the tasks be for you? Should you be at the point where you are able to send models and investor decks to your higher-ups with no mistakes on the first draft or is it still understandable to be learning how to attack different projects and asking a lot of questions to get through things?
For those of you who went through an IB analyst stint, how long did it take before you were able to cruch your projects with no hitches and pick everything up easily?
Also is it understandable that it would take someone longer to get to this stage if they went through a bank with no formal training program?
Ultimately just looking to know what the VPs and MDs expect of you after only your first month on the job.
Personal experience of those analysts who have gone through this are appreciated
Let's be honest. IBD throws curveballs at you all the time. Maybe you'll get the hang of the usual day-to-day things and the hours, but in terms of the projects and such, you shouldn't reach that point where you're going through the motions. Ask the questions because at 3 AM when you're really crunching it, you'll be thankful you did.
Chances are you'll make mistakes down the road, as well. So you can't exactly "settle" into the IB job.
This isn't directly related to IBD, but as a quant, I didn't feel competent until I was three months in.
Also, an associate's job is to catch your mistakes. If he's not editing anything you write, he feels like he's not doing his job.
No one expects you to not get mark ups on a deck you're sending out if it's a first draft; after all, it's a first draft for a reason. That's not to say that the work you did is necessarily "wrong", but rather that there might be room for improvement, and additionally, each guy senior to you is going to have his own way of doing things.
If you're one month in, your models will have mistakes as well, but the point is to be able to catch them before they totally throw off your final valuation (or whatever you're driving at). It's ok to ask for help, but make sure you ask another analyst first and work your way up the chain.
To sum up, everyone takes a couple months to get totally up to speed, so just do your best, maybe take an extra minute or two to check everything over one more time.
At one month you should expect to be clueless. At three months you (and everyone around you) will know whether you belong or not. What you do between now and then makes all the difference.
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