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!

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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.

 
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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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