Anyone not know how to model after their analyst stint?
I did 2+ years in banking and got good reviews, I have been on 2 closed deals and several pitches and other mandates. Tbh I never learned how to model. I did a lot of PPT bullshit, comps, some rollforwards here and there on some simple stuff but I've never built a grounds up model / really worked on any type of operating model, etc. Now I'm interviewing to GTFO banking and I don't have a lot to show for my 'advanced excel modeling' skills.
Which LMM are you at?
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Was banking worth it overall? And do you wish you were at a more boutique bank like EB or even just a regular boutique?
You’re honestly very lucky you haven’t been exposed yet - my advice would be to teach yourself how to model as soon as possible
No need I’m not staying in finance
Irregardless excel is used in pretty much everything, not sure what you want to go to, but that skill set is valuable
Yes dude I am glad someone else is on the same page. I was top ranked analyst 2 years in a row but my bank has an M&A product team that does ALL of our modeling. I was in coverage and never even sniffed a model.
I have no fucking clue of how you model
be above 6 foot, striking features, sub 10 body fat, take some headshots and go to casting calls
Superb advice
Try the BIWS courses which cover advanced topics so you don't get bored with the basics. Think they have PF, FoF, M&A etc.
My experience has been that there is a lot of modeling in the sense of running LBOs, putting together DCFs, and doing some accretion-dilution analyses, but you’re usually modifying existing templates rather than building something from a blank excel sheet, and you’re rarely making three-statement models from scratch.
This brings knowledge of how models work conceptually, and puts you in a place where, if you had to build any of these from scratch as an interview, you’d probably be able to do so with 10-20 hours of Breaking Into Wall Street preparation. That’s *far* from “not knowing how to model” at all, and, in my view, this is entirely normal.
The thing I will concede, though, is that, given the above, I’m not usually speed-tested on my excel shortcut skills. I have to be deliberate about incorporating them into my routine, as it’s “too easy” to just … not use them, given how rarely I’m doing formatting entirely from scratch.
Personally, I would not put “advanced excel skills” on my résumé, as I wouldn’t say I have “advanced” excel skills. I would feel comfortable saying I understand financial models, though, as I believe that, conceptually, you learn them inside and out on this job.
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