Guys,
I am going to be joining as an analyst at small bank not in US. The bank has no training program and I am coming from consulting background. I have some idea about M&A and IPO’s and all the jazz. I am afraid I will not be able to perform up to the banks expectation. Since I lack the IB background, I plan to take wall street prep and similar sort of programs. I have some questions/favor to ask from all the experience analysts and associates:
• What should I do in order to maintain my cool when complete project are given.. and I am asked to do DCF.. and pitch books.? Will it be impossible to teach my self and at the same time doing the job right? • If possible can any share their project they have done in past which are almost good as one would do in real deal.? I would really appreciate if any one is ready to share examples.. • Any good books … any one could recommend that I could use for my job.. since I wont be having the luxury of training. • I am very curious about the training provided to the analyst from the bulge brackets… (goldman , Merill and etc..) Can any one give me an idea do they really help you on your job.. how is the training made.. just like back in college.. case approach?
Any constructive input from you guys will be appreciated..
To be honest - Training at the BB level is a 6 week party. It's helpful for the Liberal Arts majors who have never seen a balance sheet or used Excel, but most of the learning really takes place once you start work. Check out scoopbooks.com for some practictioner's guides to banking. Also, don't be afraid to ask someone at the new job how to do something. I assume they know you were in consulting and don't expect you to do a DCF or spread comps without having someone walk you through it a couple times.
doing the job is the best training there is. Hopefully your seniors are experienced bankers you can learn from. They are obviously aware of your background and won't expect you to churn out LBO models from day one. Don't be afraid to ask question.
thanks for responses everyone so far. Where could I find examples case studies and complete excel breakdown.. for M&A and IPOs... any analyst could share their projects if possible.. please pm me..
No one is going to give you their work. Passing out confidential documents on an internet forum is a real good way to get fired.
Just go read some corporate finance textbooks.
If you have any aptitude for finance and accounting, you will pick it all up at light speed when you start work. If you don't have an aptitude, nothing in banking is that complex and you will pick it up in time. You can probably just chill out and wait till work starts. If you really want to prep a bit: read, and try to understand the vault guide to finance interviews. Understand the basic corp fin theory. WACC, DCF, etcs...Also, pick 5 companies, read the 10K's and try and understand the financial statements and notes. Grab a textbook that focuses on corporate financial reporting and use that to help yourself.
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