Less than 1 year at BB M&A: is this enough to learn sufficient technical skills? When does the learning curve start to drop?
Hi fellas,
For ex and current bankers out there:
How long were you on the job before you could put together a model with reasonable comfort? By reasonable comfort I mean without constant supervision/question asking. i.e. no late nights wondering why the fuck your BS doesn't balance, or googling how to enable circular references for debt and interest etc.
Being a non-finance student, I am still at that stage where I wouldn't feel too confident if someone gave me 3 days to bang out a functional three statements and a dcf/lbo.
After say, 10 months on the job, would you be reasonably comfortable with this? How much left is there to learn in your second year?
If, say, someone wanted to jump to MM PE after 1 year, would they be technically savvy enough to handle the job?
Appreciate the input!
Honestly depends a lot on what deals you happen to be staffed on.
Say, the average guy in M&A at the average BB?
or depends on how smart you are?
If we're talking at a BB, my vote is around 4-5 months on the job? That's when I think most analysts should know enough to squeeze out a operating model + valuation for most vanilla companies that is mechanically functional, but maybe with shit assumptions/drivers. For one off cases where they deal with a situation they haven't experienced before, at that point they should also be able to figure it out themselves without asking.
Curious as to whether people agree/disagree. How long did it take you guys?
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