BB FT Training Exams
Hi Fellow Monkeys
Long time reader/poster (using an alias account) looking for serious advice.
I am a first year analyst currently in IBD training for a BB, and not doing as well as I'd hope. The material I get, the networking I am excelling at (I think), but for some reason when we are taking our exams for the training firms (think AMT/TTS/PWS) I can't seem to do well.
During exams, I do my work on excel and save it to cross-reference when we get our results. All of the questions I answer, I always seem to have the right thought process and should be getting a majority of the questions right but I keep messing up. Thus far, I have gotten a 65 (avg 75-80) on the accounting test, and a 60 on the valuation test (avg 75-80), though I did well on the modeling exam. The exams are online and answers must be inputted to 1 decimal.
Upon receiving my grade on my most recent exam (valuation), I decided to see what I did wrong cause I felt discouraged I was not getting the material. But that actually does NOT seem to be the case. Below are my key takeaways:
1) On calendarizing EBITDA, I kept messing up the percentage (ie using 25% for yr 1 and 75% for yr 2, when it should have been the opposite).
2) 2-3 Questions I got wrong because I inputted the wrong number in a cell and it spit out the wrong output (ie picked the # above my line items that I wanted to pull because my eyes just didn't line it perfectly).
3) On scrubbing numbers I'd get 6 line items correct, and add back in one line item that should not have been added back in.
4) Had one question where I wrote the wrong decimal point (think .1 vs .2 when pressing the number pad in the actual exam).
5) Lastly, mistakenly referencing the wrong cell in 1 question (blank cell above one I wanted).
Changing/fixing one number usually did the trick to fix my answer. I'm sure you can all realize my frustration in myself for making careless mistakes, but I wanted to hear your take.
Just a few questions:
a) Should I be worried? I hate not doing well, and the amount of time I put into studying really made me think I'd do well, and I even felt confident during the test. Had I not made these careless mistakes (genuinely 3 questions out of 26 I didn't fully understand how to do) I should have received an 85+
b) Is it worth it to contact the head of the first year analysts in my group? I do not want them thinking I am just not getting the material, because I am, but rather my lack of time did not give me time to look over my answers (roughly 80% of my class stayed till the end). Again, I still feel comfortable in my capabilities, but as I write this, I am shocked I was so careless in my answers (had this been graded by a person and not a machine, they would have seen I did the entire analyses and equations in my spreadsheet correctly, but did something dumb in one part).
c) How important are the FT training exams? I do not want to get looked upon poorly, nor do I want to get fired (though I think that would be a bit extreme).
I understand banking requires attention to detail and the works, but I was pressed for time and never looked over the answers, just believed I did it correctly. Thank you all for your time. Any input is greatly appreciated. And if you want to berate me for making dumb mistakes, please do. Hopefully I do not do it again...
lostanalyst
Placeat harum quos laudantium et quam voluptas. Omnis voluptatem adipisci fugit voluptatum voluptatem.
Dolor delectus in quod nobis. Qui omnis consectetur veritatis dicta expedita qui cum ducimus. Velit et numquam odio laboriosam accusamus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...