I just applied for the Junior analyst position. What does this entail really? I am going in from the non-traditional background. What is a day to day like for junior analyst? I read somewhere, but can't find that site now, that you are compiling publicly disclosed files and putting them together and things of that sort along with some financial modeling? What kinds of files/documents are these? Any insight?
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What department are you an analyst in?
I just finished the video interview for JPM junior IB analyst position (waiting to hear back from them). Not really sure where they will place me though..
Ah i see. let me check that video quick
It usually seems (at least generally) that there is a lot of work such as excel, doing random stuff for associates, and the like. As you move along you get to do more interesting stuff, but the excel stuff is good because the bank has you do models like valuation of companies ( this is a big one), Leveraged Buyout Models (LBO), and the like.
There is stuff like industry specific modeling. For example, for investment banking in the retail industry, the models in that sector will be different than they would be in the mergers and acquisitions field or the media.
Thanks very much!
There is a site called Mergers and Inquisitions that has a lot of helpful articles on the field. I would suggest checking it out.
I will check that. Thank you for your suggestion.
You're welcome good luck!
For sure good luck
Being a Great Junior Analyst (Originally Posted: 05/09/2012)
This is an open ended question, but what makes a great analyst? I assume that as a junior analyst working for one or more senior analysts on the buy-side you are probably fleshing out their ideas more than coming up with your own (or maybe I'm wrong). What are ways that junior analysts can best add value and move up the chain of command without overstepping their bounds?
A few general and then specific ideas
1) automating everything you can and not fucking up the basics. get through this phase as fast as possible--it will be the first few months on the job if you're good, for some it takes a year or two.
2) showing occasional flashes of insight--mathematical, how a company works, etc.
3) always outworking your alleged peers
4) having a great attitude
5) challenging your superiors' theses thoughtfully when you actually have a point--this requires a lot of discretion and soft skills, and the longer you are on the job the better you will recognize sound versus unsound lines of reasoning. don't get a big head because they are most likely leagues ahead of you, but if there are details that contradict or shoot a hole through a thesis, bring them up. you will be starstruck by the brilliance of some people esp. if you work at a great shop for the first few months, but once you get more on their level in terms of understanding finance/mathematics by learning on the job/reading you will be able to talk more intelligently.
6) understanding something esoteric that is actually important and that your superiors don't have a great grasp on--if you take the time to understand some weird corporate situation and event or some cutting-edge volatility forecasting model or whatever, and present to them thoughtfully why using it would be a good idea/can demonstrate how it makes everybody money, you are adding value. the flip side is that things are esoteric for a reason so you will be doing heavy lifting intellectually.
7) learning how to pitch a great idea--they will slowly work you into this, and being able to concisely sum up your thesis convincingly is very difficult
Look, most of this is simply just related to having fundamental curiosity about the world and not being stuck-up enough to think that learning the basics doesn't apply to you. Learn the basics. Do the basics faster and better than any of your peers. Once you get an idea of what you like and don't like, find a really fucking hard problem that you want to attack that nobody knows the true answer to and that your MD permits you to work on, and become an expert at all previous approaches to solving it, and then present your bleeding edge solution to the group.
If you are interested enough in solving these problems, you just might make a career out of this if the people around you don't screw you over out of jealousy or spite. This is why there is hopefully a good culture in place and presenting portfolio ideas doesn't turn into a blood sport.
Resurrecting this thread to point out that this is the best post I have ever read on WSO.
Out of interest, what kinds of things do you have in mind when you say automate everything you can?
It's probably different at other buy side shops (and its never this way on the sell side), but our associates are given coverage straight out of undergrad. Generally they are given names that we are less likely to invest in. Then they build up coverage over time.
Automation to the extent that you can accomplish it is helpful.
I would not be so keen on going out of your way to try to show "flashes of insight" as you might make yourself look like a fool. Worry about making money for the PM as that's all they care about.
Work hard and don't mess up
^^ Agreed syntheticshit killed it
I guess I'm doing something right since I've done all of the above!!
the concise part of number 7 is very important. Learned this the hard way lol.
BB Junior Analyst Position (Originally Posted: 02/19/2014)
Some BB banks are rolling out a new position called a "junior analyst" - does anyone have some insight into what this role would look like? Any details would be appreciated.
lol i saw this and was confused as well.
Is this how they're going to get around the new lifestyle trend?
"Yeah our analysts get off Friday night / Saturday... our junior analysts on the other hand..."
Was reading about this as well. One of them seemed to imply that it would be a one year contract, which seems very strange.
I think the idea is indeed to "lighten the load" on the analysts.
Also think that after 1 year you'd be funneled into the analyst program. I wonder how exit ops would work...
Any one has updates on the Junior Analyst Program at JPM? Thought last year was their first year doing this. How's the 2014 class doing now? Any idea on what % received/will receive a spot in the full-time Analyst Program?
Anyone has updates on the Junior Analyst Program at JPM? Thought last year was their first year doing this. How's the 2014 class doing now? Any idea on what % received/will receive a spot in the full-time Analyst Program?
Anyone has updates on the Junior Analyst Program at JPM? Thought last year was their first year doing this. How's the 2014 class doing now? Any idea on what % received/will receive a spot in the full-time Analyst Program?
Anyone know which banks have this program aside from JPM?
interested in this as well
Junior Analysts (Originally Posted: 05/20/2014)
Have any of you ever felt like the management and/or the IR people are slightly looking down on you during conference calls or (albeit less common) the meetings just because you are a junior member of the team? I do a lot of calls myself with these people, as we have a small team/horizontal structure, and quite often I feel like they don't take these conversations as seriously as they would with the more senior guys. What are your thoughts?
Most of the people I work and interact with are much older than me. As long as I don't mention that I'm an analyst or make myself sound/seem like an analyst, they give the respect of anyone else. Don't give them a reason to look down on you.
I'm either extremely ignorant or this has never happened to me.
I have a good friend who also echoes this sentiment. Told me he always makes sure he's on his A game to mitigate this as much as possible.
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