Best Modeling Prep?
I am joining a premier boutique bank this upcoming summer as a FT analyst. I was recruited through a diversity program and am getting anxious as I realized I don't know how to model at all, meanwhile everyone else in my summer analyst class did really well with their models and summer projects.
I honestly don't know how I got the return offer but now I want to know how to do the job when I join full time. Does any one have any model courses they found helpful that they've learned from?
Thank you
Hey there! It's great to hear that you're eager to learn and prepare for your upcoming role. I've got just the thing for you. The WSO Elite Modeling Package is a fantastic resource. It's our most popular program and includes 6 courses that will guide you to modeling mastery.
Here's a quick rundown of what's included:
Excel Modeling Course: This is the foundation for all finance careers. It will help you get comfortable with Excel, which is crucial for any kind of financial modeling.
PowerPoint for Finance Course: This will help you master the art of creating pitchbooks and presentations, another key skill for analysts.
Financial Statement Modeling: This course will unlock the secrets of the 3 financial statements and how they interact in a model.
LBO Modeling Course: Here, you'll learn to master Private Equity LBOs, a key part of many finance roles.
M&A Modeling Course: This will help you unlock the secrets of M&A modeling.
Valuation Modeling Course: This course will teach you about trading and precedent comps, another key part of valuation and modeling.
Remember, mastering these skills is a big commitment, but it's definitely worth it. If it were easy, everyone would do it! Good luck with your preparation, and don't hesitate to reach out if you have any more questions.
Sources: Q&A: Equity Research Associate at a Boutique Firm, Hi, anyone in HK looking for analysts?, Firms Still Recruiting for 2020 Full-Time Analysts, 2021 Full Time Analyst Recruiting Advice
Most summer analysts don’t know what modeling is: modeling is not comps or benchmarking charts etc, it’s either financial model (so we have the P&l projected into the future, then this P&L flows into a DCF and LBO or discounted future equity analysis etc.) or an operating model - taking a company’s vdr download and building up revenue and each expense line item with specific drivers (this is done for a company at the beginning of a sellside process)
You will not learn how to build real functioning operating models likely until you start the job - I think the best practice is to take one course on three statement modeling of your choosing - then just pick 5 public companies in your sector and build their models. The magic is in your forward assumptions which is a combination of accurately reading historical performance and seeking out information on where experts think the company is going (listen to mgmt , earnings calls, etc.) then when you have its three statement model, feed that into a DCF and lbo - rinse and repeat
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