Curious about what is suggested to brush up on. Is building operating models something that IB teams do or is that done by corporate finance teams? Also, what metrics are used for projections--ex. for accounts payable would you use DPO or other similar ratios? Or is it all based on ER projections?
| +72 | PWP acquisition by Piper cancelled | 28 | 6h |
| +62 | Is my MD a grifter? 16 years, 8 firms | 21 | 1m |
| +54 | "Corporate & Investment Banking" Analyst - Why? | 39 | 2h |
| +47 | MS / GS IBD ACs London interview processes run by nationality? | 43 | 2h |
| +43 | No return offer - UPDATE. | 12 | 1d |
| +42 | What does JEF banker always think they’re EB? | 24 | 3m |
| +41 | Article: UBS Wall Street Rebuild Is a Study in Management Failure | 7 | 3d |
| +37 | Moat of modelling in PE/Finance completely vanished; | 12 | 28m |
| +29 | Lack of talent in IB! | 25 | 1d |
| +28 | What Are The Best Boutiques 2026/2027 | 16 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Bump
This topic has been covered hundreds of times.
Suggest you have the following locked down:
1. Basic accounting principles. How a 3 statement model interacts.
2. DCF - know how to put one together given a business projections
3. Paper LBO - like so: https://www.streetofwalls.com/finance-training-courses/private-equity-t…;
4. Comps - what are comps and what are the typical comps you'd use for a public vs private situation
Thank you!
Based on my own experience:
You need to know how everything works, not necessarily how to do it. If you can figure out how a DCF, 3 statement, comps, LBO and merger model work then you will be fine.
Realistically you’re an intern, you’re not going to be modelling on the job. Most you’ll do is some comps/update existing models.
Have a solid understanding of Excel so you can check and update things quickly without screwing it up.
FAR more important: PowerPoint
If you can get really good, really fast and not make mistakes it will make you stand out. Delivering high quality, error-free work product within the requested timescale or faster will make you look better than any modelling skills you might have but won’t be using. Always remember: Quality > Speed
That, a good attitude, friendliness and a solid understanding of the fundamentals of finance will get you an offer. Be quick to learn and ask the right questions too (only once and not if you can google it) and set reasonable expectations for when people can expect work product from you.
Good luck!
Thank you so much, appreciate the helpful advice!
I interned at jefferies and there were some people that didn’t know the difference between equity value and enterprise value
Average Jefferies employee
NYC?
Quibusdam blanditiis beatae earum dolores explicabo similique sed. Et soluta soluta sit ipsum. Id fugiat quis est. Tempora porro voluptates repellendus ea exercitationem. Exercitationem nihil magni iusto sit ullam provident. Ab voluptatem nihil et vel voluptatem.
Hic incidunt reprehenderit ut totam eligendi. Quo voluptatem deserunt adipisci voluptas ipsam vel. Dolores adipisci eos aut rem temporibus ab. Vitae et iste dolorem ipsa velit. Cumque autem officiis ut in nemo sint. Accusantium est aut non ut quo voluptas aut.
Cupiditate est velit explicabo tempora. Magni ut non quo occaecati.
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...