Landed a job but not ready... what to do?
So I recently landed a full time IB gig at a highly regarded boutique firm. I prepared extensively for interviews, have had a stint at a tiny boutique at the past, and generally understand the job function, but I feel like I am not ready for the job. I have until the summer to get prepared and there is a formal training process, but I want to make that I am up to speed before then.
Any tips on what to do until then? I've been actively working on improving my soft/social skills, am taking relevant coursework in finance, but have never really worked on a real world model. I've had exposure to plenty of slide decks at my previous internship, but feel like I have a long ways to go.
Any tips/advice to make that I will be ready to hit the desk? I am in part taking it easy until I start and focusing on having fun and doing well in school but also there is the lingering feeling I need to keep grinding.
bro. just breathe. you'll be fine.
Hey man, I was never in banking but will speak to my experience as a new graduate and my first couple jobs.
I did no internships in college - I graduated with no work experience and no connections, and I landed my first job due to one of the interviewers being an alumni of my school. He asked what my favorite bars were in a our college town, and apparently I gave the right answers because I got the job.
My excel skills were extremely basic. I knew about vlookups, pivot tables, and if statements, but that was it. Guess what? That’s all I used at that job. The technical skills needed weren’t anything crazy, and all the stuff I learned was more geared towards the different databases data came from.
That job was awful - pay was shit and culture was horrendous. I landed another job with a nice pay bump and better culture, and again, the Excel skills were the same. My PowerPoint skills definitely tightened up, but the biggest learning curve on the technical side involved the databases and excel add-ins used by the company.
I then landed another job with another nice boost in pay. However, everyone at that company was a former banker. My excel and PowerPoint skills were nowhere near my peers, and the first couple months I spent several hours on my own rebuilding models and learning how stuff worked. My coworkers were great and respectfully taught me about formatting (green for sheet references, blue hard codes, black formulas). Also, I finally realized just how important knowing excel keyboard shortcuts are (and PowerPoint). I had spent a year using the excel add-in to drive my deliverables at the old company, so the keyboard shortcuts didn’t matter as much. At the new company, actually modeling took a lot of excel work, and not having to touch the mouse for say font color or any formatting is huge.
I actually started getting wrist issues as I rested my hands on the desk while modeling, so now I stretch my forearms around 5 minutes every morning and night. You can stretch them while doing other stretches.
At my current job, I’m surrounded by people with better pedigrees and more “prestigious” job experiences, but guess what? I get paid the same as them. I have the same responsibility as them. I’m treated as an equal.
When I was interviewing for different positions before my current role, I had an interview with a Harvard MBA. Dude went to an Ivy League school, was at one of the “top tier” EB groups people talk about on here for 2 years, then did a Harvard MBA. I remember mentioning in the interview I didn’t have banking experience and my modeling probably wasn’t as good as other candidates, and he stopped me and talked about how he is a busy man and wouldn’t waste his time interviewing me if he thought I wasn’t qualified. He was blunt and straight to the point and called me out on stuff I said I did but really just touched on in my previous (and at the time current) role(s). Didn’t get an offer from that place, but I realized he had a point. Don’t apologize for what you don’t have. Be confident in the skills you do have - play your strengths, and acknowledge your weaknesses if questioned, but don’t be a pussy.
Once again, my current role places me beside people with more “prestigious” backgrounds. From Ivy League MBA’s to investment bankers from NYC, my coworkers look much better on paper than I, but what I’ve realized is if a company has a good culture, your coworkers won’t harp on this, because normal people don’t make everything into a dick-measuring contest. Your coworkers will help train you to get you up to speed, and they won’t shame you for mistakes you make for the first time. Just make sure to not repeat mistakes.
There’s a thing called “imposter syndrome”, and I believe a lot more people have it than not when it comes to high-paying jobs. I might even say it could be arrogant to an extent to not have this to some degree. Why do I, someone who went to a non-target university and had a sub-3.5GPA, make 6 figures in my early 20’s? How did I get so lucky? Do I deserve this? The answer is that although luck did play a part, I worked hard. The fact you’re asking this is proof in my opinion that you will be a solid analyst once you start full time.
Good luck bro, and remember that it’s just a job. Do your best, but a job is just a part of your life.
This is legit great advice. Culture is everything and most skills are learned on the job.
I wouldn't sweat it. My boutique's training was pretty comprehensive and brought all the analysts up to speed from a wide range of starting points. Some guys had done PE internships all through school while others had just switched over from SWE / data science work.
That said, the training only goes so far. They're not going to be able to teach you every analysis or workstream you will encounter on the desk. As long as you learn quickly and take good notes you should be able to ramp with no issues.
Enjoy the next few months and try to come in on your first day feeling refreshed. Do anything this year that you’ve been putting off and enjoy college as much as you can before you graduate. Cheers man
please what boutiqe currently prepping for ft
Here is how it’s gonna go:
- If you passed interviews you likely have an OK understanding of technicals - just make sure you don’t forget but no need to train more
- Any study you make prior to starting will be irrelevant for your future performance. Party/travel etc until then (best advice anyone can give you by far)
- You will have a training, remember 60% of what they tell you, and half of it will never be applied to your job
- You will suck and be a liability for your first 6 months. NOTHING is expected of you when you start besides a good attitude (and attention to detail, which is still a developed skill)
- After 6-12 months you start tu actually get it and be good at the job.
- 50% of your bonus will come from office politics
Don’t fall for impostor syndrome - if anything, after a year you will realize analyst work is really easy (there is just a lot to do)
Prestige prior to starting does not matter. I know so many people from MIT / Oxford and so on who suck at the job.
You will slowly begin to learn, as a professional, you will never be as prepared for things in this career as you are likely used to in school and most other things. You can no longer do all the work upfront, beforehand, to ensure easy success. It's just not how it works..
The good news is, chances are you will be fine.
1. Keep a good, positive attitude. Be confident in yourself and youll be able to handle any analyst work
2. show up to work on time. leave after most, if not all, others have
3. Meet your deadlines
Do these three things and you will be promoted
Can I ask how you landed the FT offer? I am struggling getting traction rn for FT after having 3 IB internship experiences.
Bump, same situation here.
First, congratulations. Now take a breath.
Second, ask your HR contact if they can provide SIE, 63, and 79 study materials now so that you knock of the SIE and 63 before starting and be ready to sit for the 79 in your first month.
Third, get yourself a wall street prep course and follow that program.
Finally, take another breath and remember that no one knows anything when they start, this is essentially an apprenticeship, and if they didn't think you could hack it you wouldn't have gotten the offer.
is Wall Street Prep worth it?
I think so. It's the standard program used by most firms and is more than enough to take the academic knowledge you have and see how it is actually put into practice. The premium package has decent modules on building buyer lists, excel and power point tips, and some other industry coverage groups. I still use it for a LBO refresh ever now and then.
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