MS Case Study

For an MS (Morgan Stanley) coverage team associate lateral role, the 1-hour Excel case study is likely designed to test your technical skills, financial modeling abilities, and your ability to analyze and interpret data under time pressure. Based on the most helpful WSO content, here’s what you need to know:

1. Key Skills to Brush Up On:

• Financial Modeling: Be prepared to build or modify a financial model. This could include tasks like creating a DCF (Discounted Cash Flow) model, LBO (Leveraged Buyout) model, or a simple three-statement model.
• Data Analysis: You might be asked to analyze a dataset, calculate key metrics (e.g., EBITDA, margins, growth rates), or identify trends.
• Excel Proficiency: Ensure you're comfortable with Excel shortcuts, formulas (e.g., VLOOKUP, INDEX-MATCH, IF statements), and pivot tables. Speed and accuracy are critical.

2. Likely Case Study Scenarios:

• Valuation Exercise: You may be given a set of financials and asked to calculate valuation metrics like EV/EBITDA, P/E ratios, or perform a DCF analysis.
• Scenario Analysis: You could be tasked with creating sensitivity tables or running scenarios to show the impact of different assumptions (e.g., revenue growth, cost changes).
• Data Cleaning: Sometimes, the case study includes cleaning up raw data and organizing it into a usable format.

3. Preparation Tips:

• Practice Financial Models: Use WSO’s financial modeling templates or other resources to practice building models from scratch.
• Review Common Metrics: Be ready to calculate and interpret metrics like ROE, ROA, IRR, and NPV.
• Time Management: With only 1 hour, prioritize tasks that will give you the most points. If the instructions emphasize specific deliverables, focus on those first.
• Attention to Detail: Double-check your formulas and outputs. Errors in Excel can cost you points.

4. Behavioral Component:

Even though this is a technical exercise, your ability to explain your work clearly and logically during a follow-up discussion is crucial. Be prepared to walk through your thought process and justify your assumptions.

5. Additional Resources:

• Check out WSO’s Excel Modeling Course for a refresher on key skills.
• Review WSO threads on Excel case studies for insights from others who’ve gone through similar processes.

Good luck! Nail the case study, and you’ll be one step closer to landing the role.

Sources: Case study interview for MBB consulting - 24 of my best tips on how to get in, Case study interview for MBB consulting - 24 of my best tips on how to get in, What did you wish you knew when entering consulting recruitment?