How To Become A Top Bucket Analyst
Hey Everyone,
Heard a lot of people talking about bonuses and being a top bucket analyst. What does top bucket analyst exactly mean? Work the most? Do the best work? Any tips to become a top bucket analyst and get that PHAT bonus in the future?
Sounds simple but do what you're told without mistakes in a timely manner. If I were to redo my 1st year in IB, I would have slowed down which sounds counterintuitive, but truth is nothing is more annoying than adding turns to a deck. Think through to the final product, put yourself in your Associate or VPs shoes, and most importantly ask questions. All of these things will propel you ahead and shape you into a better analyst so once you get some reps in, you'll know what you're doing.
Oh and don't be a dick
https://www.wallstreetoasis.com/forums/eight-habits-of-top-bucket-ibd-s…
Join a group where you are a good cultural fit, find the sector interesting and enjoy the work
Slightly off tangent but not being top bucket but the bucket right after is the sweet spot imo. I’m able to spend less hours cause I’m not getting crushed as much as top bucket but still respected enough to get on good deals and not shitty staffings. Also just find my health to be more important than to be top as I have a “weak” body to begin with.
I’d probably have to work a couple more hours of week (being proactive/checking my work closely) which as I’m already pulling in 70-80 hours a week would be a huge difference over the course of two years
If you can be top and really keep your sanity kudos to you, I couldn’t and perfectly content with where I am. Its sort of like how not everyone wants to work in IB because of insane hours even if the $ is good. In that sense not everyone wants to be top bucket
The Alex Moran strategy
In my opinion from someone who's gotten a top bucket review and is annoyed with bottom performers in my group:
Plenty of more things to add but just a few that come to mind
Don't be a meanie and say that you're "annoyed" by bottom performers. Who are you anyways?
I'd actually think the first years are the ones who will spend more time checking and making sure the deck is good to go before sending. Funny to see this is not the case in your opnion. I never understood this whole check your work, print it out, check it again, etc. By the time I finish my slides, the associate has already sent a "How's this coming along" type email and I feel obligated to send a draft sooner rather than later. Whenever I actually do do what you are suggesting, I get a "This shouldn't have taken you that long to do..." You got to strike a balance
Your reading comment I think is the true differentiator. It's extremely tough to be reading something about the open banking software space and COVID's impact on it when you get done with work around 4am every night. It's very hard to be higher level and take on the job of an associate and an analyst when you are the sole analyst on a lot of things. This might be some advice for more senior analysts who can boss a first year around. Reading industry reports is the real difference between whether you actually love what you are doing and the sector you are in and whether you are just in this job for the money. I realized I am in the job for the money as I don't give two shits about my sector and feel like we are just BSing most of the content in the slides we come up with anywyas. If your BSing skills are top notch, you could get away with not knowing shit.
Regardless, as a top bucket analyst myself, as much as it sucks, it's the best feeling in the world when you're getting your review and all the seniors are praising you like you're the best analyst in the world. It's the one time where you actually feel like all of that hard work was worth it. Of course, that only lasts for 15 minutes, but it's been the best 15 minutes of my banking career.
Lol not sure why it's mean to be annoyed with bottom performers. Could see how this affects people differently depending on the size of the group. My group is small, so just a couple analysts who don't take it seriously and cruise make my life much more difficult. If we all pulled our weight, it would mean I could work less so I guess that's where it's frustrating. I could see this being less of a problem in a larger group with more analysts but I couldn't speak to that since it's not my experience.
I agree that we are busy but we aren't working nonstop all day. There's definitely down time to read during the day while waiting for comments.
Balancing accuracy and speed are definitely tough. My best advice there is to under promise and over deliver. It took me about 1.5 years to get an idea of how to manage expectations. One of my problems when someone asked when I could get something done was giving them too early of a timeline and then eventually when I didn't have something done because I didn't give myself enough time is when people got upset. Do yourself a favor and under promise, then when something is done ahead of schedule people will be happy. With that said, pretty much no matter what you're going to get the associate/VP sending you "where are we on this?/need to get this done ASAP shouldn't take this long..." even if it's completely unreasonable timeline to get that certain project in that amount of time. As a more sr analyst I find it easier to give some push back, but gotten so many of those emails at this point they don't really bother me.
Banking is all about BSing. The best sr bankers are amazing BSers. Sr bankers are salesmen, it's a sales job at that level and salesmen are sleazy BSers haha when I first started out I thought the sr bankers were geniuses but you come to realize that's not true (they just have a lot of reps). Same intelligence as any other smart person.
-Be someone who gets it
-Be the first one in and the last one out on your deal team
-Thoroughly check all work and formulas numerous times
-Get to know your shortcuts and customize the quick access toolbar in excel and PPT
-Stay hyper organized
-Study the deals you work on; know their rev, ebitda, ev, etc.
-Over communicate
-be a problem solver, try to answer your own questions before asking a higher up
-always be positive, just not overbearing
-Meditate, eat healthy (salads for lunch), exercise everyday (it can only be 15 min if need be), have the "getting better everyday" mindset