Does the Amount of Modeling/Technicality of an Analyst Position Vary by Bank?
Hey guys, I hope everyone has been safe and well! I was curious if the amount of financial statement analysis, application of accounting and finance topics, and financial modeling/Excel work that an analyst does different at any two banks? So for example, is the job of an analyst at an EB more technical than that of one at a MM? Thanks!
Not sure about EB vs. MM, but I think a lot of people consider a typical EB analyst to have more technical experience than a typical BB analyst. However, this is highly dependent on the group you're in. The technical exposure at a top BB group that runs their own model is comparable.
Best to ask about this in your networking calls.
Depends on bank and group. Banks w M&A specific groups will mean typical coverage groups will do less modeling since M&A usually owns the model. While this is the case, more niche modeling/valuation groups such as Power, Real Estate, and usually FIG tend to hold the model, so analysts in those groups tend to do more modeling than others.
Additionally, if your platform works extensively on the sell-side with the sponsor community, the sponsor will typically “own” the model while the sell-side analyst and associate work to vet the model in conjunction with the sponsor’s deal team.
The sell-side junior bankers may work on the creation and development of additional models, including revenue builds or cohort analyses. These sector-specific models can be used to support and supplement assumptions and forecasted financial performance outlined in the sponsor’s model.
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