Incoming SA at a WF/RBC and interested in placing into Lev Fin. Was wondering how/what I should prepare for calls/placement networking. Any help would be appreciated.
| +148 | AI Creating More Work | 44 | 1d |
| +146 | Senior Banker's Guide to IB Recruiting / Group Placement (with a Healthcare Bent) | 18 | 18h |
| +142 | Shit PWP Culture | 88 | 1d |
| +117 | Is pay at BofA really that bad? | 58 | 1d |
| +81 | Day at Macquarie | 8 | 9h |
| +44 | Is the life of a VP at a 'top-bank' really good? | 15 | 2d |
| +42 | How bad did I mess up | 10 | 35m |
| +29 | Law school instead of MBA for RX Banking | 5 | 3d |
| +29 | No BB RO 2026 | 10 | 1d |
| +28 | Misrepresented Houston IB | 14 | 5h |
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.
Read the LCD leveraged loan primer, really contains everything expected of an SA to know. If you want to seem really advanced, look into different credit agreement structures, different provisions, and how banks are competing/collaborating with private credit (look into unitranche financing).
Interned this summer at a modeling-heavy levfin team, not sure how much of the model does Wells/RBC hold the pen on, but here’s what I’d recommend besides being good at three-statement / LBO modeling:
- Learn how to do cap tables, they should take about an hour but since you’ve never done them before it takes forever, especially when you’re calculating LTMs, digging for prices and new tranches on Bloomberg, creditsight, markit etc….. you can do this in your own time to practice but there’s very little courses available for Levfin specific cap tables. Go on X and look for the Bear Stearn Levfin primer, and go on @Boringbusinesses, he has a primer on cap tables there as well. You can also go on google, go to “advanced search” and type in Lender Presentation, and make sure the file type is in PDF. There will be a bunch of presentations there that levfin teams put together for deals, usually there’s sources & uses and pro forma cap tables around the second or third page. This is also useful to see what type of materials you will need to know, and also have a creative repertoire of slides you can take inspiration from. I would recommend to save some that you like on a folder.
- Debt comps. I could not find a single guide online, but it’s basically like doing a bunch of cap tables but on a comps layout. I wouldn’t worry too much about this, if you can master the cap table you can master this.
- Practice your typing and listening skills. You will be joining tons of back to back due diligence calls with sponsors and lenders, and a lot of it you may not know, so be ready to take super detailed and organized notes. I like typing in the question then putting the answer in bulletpoints in a different color. But yeah be ready to take a ton of notes.
- I like to follow some credit-focused meme pages and newsletters, it keeps you in the loop. High yield harry, junkbond investor, pari passu, 9fin, Octus, etc.
That’s all I can think off at the top of my head, as an intern I would say the work was 40% email, 40% excel, 20% PPT (that was my personal experience, others had much more PPT). Your main deliverables will be:
1. Cap tables
2. Debt comps
3. Sources and uses
Aspernatur id molestias excepturi adipisci id provident. Dolores consectetur eum voluptatum dignissimos adipisci magnam facere. Numquam nihil ut quasi quia sed occaecati omnis quae. Adipisci quos et culpa natus non magnam. Consequatur vel aut facilis sit quasi repellat. Beatae maiores iure dolores deserunt eligendi perferendis non qui. Velit ipsum deleniti consequatur numquam sed magnam corporis.
Temporibus ratione minima quam sit hic est odit. Assumenda omnis natus ullam praesentium. Porro natus totam dicta. Expedita sapiente occaecati earum voluptatem vitae dolorem in explicabo.
Ipsum est recusandae est ut eum laboriosam. Saepe necessitatibus tempora ratione commodi incidunt. Sint cumque natus quia a veniam. Dolor voluptas dolores quam a. Voluptate sint sint tempora.
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...