Unless you're at Goldman, they really screw you over by not letting you model much. It's such an important skillset for a banker or financier. It hurts your career prospects and pins you to coverage banking (maybe that's why they do it...)
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So who models brah
Group/bank dependent. Industrials/FIG gets a lot of reps because of industry specific nature.
Industrials?
At least in my bank, industrials analysts see lot of volume (team is very high in league tables) and get a lot of modeling exposure because of it. Like I said, group/bank dependent.
Not having to model everyday is a blessing tbh. You can always supplement your modeling skill on the side if you're that worried.
You'll get plenty of excel experience in the background even in a coverage group where M&A holds the model. Focusing on the industry & valuation pages allow you to gain a different skill that enables you to learn more about the macro & bigger picture. I believe that skill set is more valuable than pure modeling in the long run, as once you get senior that's the most important feature of a banker to a client.
It's good if you want to stay in coverage banking but not modeling will impact your ability to recruit for PE, Growth, Corp Dev, and more.
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