How to prepare for upcoming IB intern in a boutique?

Based on the most helpful WSO content, here are some detailed tips and advice to prepare for your upcoming internship at a boutique investment bank:

Preparation Tips:

1. Excel Skills:

   • Excel Shortcuts: Familiarize yourself with both PC and Mac shortcuts.
   • Excel Self Study: Engage in self-study to master Excel.
   • Advanced Excel Formulas: Learn and practice advanced formulas.

2. Financial Modeling:

   • 3 Statement Model: Understand the integration of income statement, balance sheet, and cash flow statement.
   • DCF Modeling: Learn Discounted Cash Flow modeling.
   • Accretion Dilution Model: Get comfortable with this model, especially for M&A transactions.

3. Interview Preparation:

   • Investment Banking Interview Questions: Review common questions and practice your responses.
   • Private Equity Interview Questions: Even if not directly relevant, these can provide additional insights.
   • Behavioral Techniques: Prepare for behavioral questions to demonstrate your fit within the team.

4. Networking:

   • Keep Networking: Despite long working hours, continue to network. Use your current experience as leverage and build relationships within the industry.

What to Expect:

• Long Working Hours: Be prepared for long days and the need to adjust quickly from a college environment.
• High Expectations: Working under a senior executive means you will likely be given significant responsibilities and expected to perform at a high level.
• Learning Curve: As a beginner, expect a steep learning curve. Be proactive in seeking help and resources.

Useful Skills on the Job:

• Technical Skills: Proficiency in Excel and financial modeling.
• Attention to Detail: Accuracy in your work is crucial.
• Communication Skills: Both written and verbal communication skills are essential for drafting reports and interacting with clients and colleagues.
• Time Management: Ability to manage multiple tasks and deadlines efficiently.

Building Credibility:

• Deliver Quality Work: Ensure your work is accurate and thorough.
• Be Proactive: Take initiative in your tasks and seek out additional responsibilities.
• Show Enthusiasm: Demonstrate your interest and curiosity in the field and the specific industries you are working on.
• Seek Feedback: Regularly ask for feedback and act on it to improve your performance.

Additional Resources:

• WSO Academy: Consider enrolling in the WSO Academy for a structured 12-week program to enhance your skills.
• WSO Resume Review: Get your resume reviewed to ensure it highlights your strengths and experiences effectively.
• WSO Mock Interviews: Practice with mock interviews to build confidence and improve your interview skills.

By focusing on these areas, you can maximize your chances of success and make a strong impression during your internship. Good luck!

Sources: 7 Tips for the Boutique IB Summer Stint, How to Prepare for IB Summer Internship, How should I prepare to be a good intern?