Associate expects me to run the model
Second year Analyst here. Been incredibly busy with staffings, working till midnight most nights on a few pitches and my associate is giving me no air cover on the modeling front. I am doing ALL the comps, transaction comps, slides and he is offering no help on the model beyond checking the work and a few side analyses. As a result I have to do 90% of the heavy lifting here and will often stay past midnight on a weekday or work 10+ hours on the weekend.
is this normal or just completely toxic? He offers to “help” but I end up doing all the work.
I honestly can’t tell if this is real or satire at this point.
yeah, this one is tricky
Just have him help on comps and precedents so you have time for the model.
At this point, just waiting for a post titled "Associate expects me to shake it for him after he's done".
Its going to be an MBA associate asking for this one.
your wish has been granted
The associate should probably take a few of the slides from you but all the rest of that is very much your job. And presumably the associate is busy on a bunch of deals too.
Associate probably is working on a lot of procedural stuff which you are not in the loop on at all
I mean.....shouldn't trading comps and prez txns living inside the model (and driving the FF)?
Totally get that the associate should be helping out on the judgmental shit or one off pages that require a lot of time like big graphical pages with maps or call outs, "Investment Highlights" bulleted pages in the front of the book that seniors will probably have open for >50% of the meeting, any pages that require a lot of digging in ER (SOTP builds and the like), and other tasks that'll be a huge time sink for you that could be better spent on the FF and cash flow forecast.
But for the items that actually drive valuation (DCF/prez txn/trading comps/FF inputs, acc/dil, ability-to-pay, etc) should probably live in a single workbook that you'll need to be responsible for.
Agree this is normal. Analyst should hold pen on model (inclusive of public / tx comps). Pro-tip: pitch models should be as simple as possible and are the easiest part of building a pitch deck. You have a fully built out template and mgmt projections (or can make them up on the fly easily) that spit out simple outputs.
What is FF?
Football field, range of valuations (dcf, lbo, trading comps, precedents, etc)
Analysts are supposed to own the model, what the hell has happened to analysts these days.
Between not taking notes and not wanting to hold the pen on the model idk what analysts are even doing these days
TikToks. Money's better anyway.
To be fair to the second year analyst posting this, if you’re getting that crushed that badly, you should probably first tell your associate and then staffer if that doesn’t work out. You should be ideally running model, but then your associate should pick up the slack on other tasks (building pages, etc.) if you’re truly working till 1-2am every night.
I would communicate with them and let them know your bandwidth constraints.
I don’t know that complaining to your staffer that you have to work from 10am-1am on a weeknight is going to get the reaction you’re hoping for
I’m not OP but if the hours described are considered “getting crushed”, then I really need to reconsider what I put up with…..
In what world is this getting crushed and constrained bandwidths?
12am nights are the norm. 10hrs on weekends are the norm.
I can't imagine what a staffer would say to this...
If the associate is offering to help then just ask them to do some of these things explicitly?
Working till midnight is getting crushed now?? 11pm was average for me 12 slightly later. 9-10 a dream come true...
We are in the post-Covid era where many in today's crop of Analysts didn't do their summer IB internship in person, didn't even attend the last two years of school in person, and now are hitting the desk completely clueless.
EDIT: similar goes for MBA Associates but by and large they had a regular job prior to Covid.
Sounds like the associate might not know how to do the modeling
I never understand these situations in real life, because if there are mistakes in the model, the associate will also get in trouble.
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