Hi everyone, Does your average analyst use templates while modeling or does the format come from your head. Also, how long are memos required to be (on average).You can name the length for any specific memo.
Finally, are they all written in a format which comes from the banks library? How much creativity will acutually go into writing a memo?
| +90 | [2026 - October] Unbiased Prestige Rankings | 57 | 2h |
| +88 | Who is the final boss in Houston Energy? (GS, JEFF or EVR) | 23 | 50m |
| +81 | You should probably leave IB | 27 | 3h |
| +46 | Why Do We Turn Comments? | 11 | 2h |
| +43 | Tomorrow Will Be Better | 5 | 4d |
| +41 | Moelis PCA vs Lower tier BB Coverage | 30 | 1d |
| +26 | Lateraling as Analyst | 25 | 1h |
| +26 | Banking (Un)fortunately Still Needs You: My Case for Bankers in the AI Era | 4 | 2h |
| +24 | How much should you ask questions / seek feedback as an intern? | 9 | 14h |
| +24 | UBS IB #24 in US M&A in 2026 | 10 | 11h |
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.
Most models are already pre-built. Where people will expect you to grow your learning curve will be in the methodology of such and the complexity of the deals you'll be modeling. Each analysis, whether it be comps, LBO's or projections will have its own mechanisms.
Typically, an associate or more senior analyst will usually give you more insight into them, but most BB's expect you to know the types of models, their fundamental development, concepts etc., and a moderate degree of excel proficiency.
If you want to learn how to write a memo, google it. Remember brevity takes precedence regardless of the subject matter. Each bank may have its own style so try to get your hands on two or three to fall in line...
I've been through dealmaven already, but it didn't seem all that great. Is there any other place I could get solid modeling practice?
Learning how to model really comes from on-the-job experience. If you don't have that, I recommend understanding the fundamentals of accounting / finance because at that point, modeling is just punching in numbers in Excel.
Most of the templates I was handed as a 1st year absolutely sucked in retrospect. They "worked" but were either sloppily thrown together or had gone through so many iterations that they were confusing as hell.
Once I learned the basic mechanics of everything, I took the time to build models from scratch. Now I've got a repertoire of just about anything I'd be asked to model, with clean formatting, good Excel hygiene, intuitive organization, etc.
And once you know your own model inside and out, making changes or additions should be fairly straightforward.
But that comes with time. I'm 2 1/2 years into the job....
Majority of models are pre-built, but most analysts will go ahead and change the model to do what they need/like to do quicker, and make their own version of it.
Internal approval memos can be anywhere from 3 to 30 pages long. It really depends on the deal.
Short memos don't really require creativity too much creativity, just decent formatting and good comps. Long memos on the other hand require you to be creative about how you analyze data and materials.
I wouldn't say the majority of models are pre built. I think that any time something needs to be done extremely quickly (i.e., get me merger plans for company buying 2-3 different targets in an hour or two), then things are pre-built. Also, for the first 1/2 or so of yr 1, 75% of things will be prebuilt.
After that situations/assignments get so complicated that pre-built stuff rarely works, but it is ok b/c your skills have improved such that you can easily build your own sick models if you're good.
Omnis aliquam tempore impedit et et saepe ut. Qui cumque mollitia at atque animi deserunt. Est velit adipisci enim eos in sed exercitationem numquam. Consequatur dolorem aut quasi cum.
Eos qui dicta quia. Dolore rerum et a nulla et eos. Vel esse nesciunt et id illum ipsa.
Consequuntur sunt quia eos dolor natus totam porro. Repudiandae dolores et suscipit quasi officia explicabo. Dolorem pariatur eos sed illum.
Ea aliquam est temporibus autem. Id nisi itaque eum. Eum vel omnis minus exercitationem sed quibusdam at. Eius vel esse praesentium sapiente doloribus ducimus. Est iste ut sed culpa aut quod. Autem rerum asperiores qui amet.
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...