Not doing well in training for BB at all, am I fucked on the desk?
Hey guys just looking to calm my anxiety I guess. I have never interned in IB and did not major in finance, and our instructor/professor goes wicked fast and doesn't really stop for questions. I am having a lot of trouble grasping the material, and I performed pretty horribly on every exam we have gotten, accounting, valuation, modeling, etc. Does this directly translate to me probably being fucked on the desk once I start? I know it varies per group/bank, but if I am in coverage will I get thrown into a bunch of complex technical work as soon as I start? I am trying my best after training to learn stuff on my own and study on my own, but tbh for me it is a LOT of content and am feeling very pressured. This is for FT BB if it matters.
Thank you guys
Some places look at the training results as a first indicator of ability and others don't care. If you're struggling with concepts, take some extra time after training to review what you've learned or speak with the instructor. Most of training is likely unrelated to the job but some of it (modeling) can be relevant.
Focus on showing them how much you improve during the internship.
I’m in the exact same boat and am so nervous
The training is completely irrelevant to what you actually do on the desk. My BB had a European company teaching the training, so we were learning European standards despite being a US BB and in NYC, and stuff like NOPAT that you'd never use
That said, if you are a non finance majoe and are struggling with basic stuff like 3 statements, simple modeling stuff etc, I might take some time outside of the actual training to self-teach a bit. Pick up one of the cheaper accounting primers and learn that, or try a simple modeling course just to get your toes wet in it.
You're not expected to know everything by all means and the training scores are totally irrelevant. Also if you're not a finance major your group will get you are still picking it up, just try your best and don't get overwhelmed
Second this. Try your best, be honest about what you know and what you don’t know. Don’t be afraid to ask if you’re not clear because people will get more irritated if you don’t ask and mess it up. If you showcase the drive to learn, any good-hearted, humane person will appreciate it and guide you through the process. If they don’t, well then you know what kind of person they are.
Why is NOPAT irrelevant in the US ?
EBITDA, EBIT, NI to a lesser degree are the preferred metrics. Personally have never seen NOPAT used outside an EU context.
Nah fam you start modeling months into the job
Modeling is not the most pressing topic despite all the hype on this site when you hit the desk. For the first few months, even your most “technically savvy” peers will be building PIBs and other discussion materials, sending calendar invites, and scrubbing/building comps from templates for the first 30-60 days.
This is not to say you should relax, but continue what you’re doing by really grinding offline to feel technically sound when the time does come, but make sure the little seemingly insignificant items on the way are of stellar quality. You can build a lot of great rapport before even touching a model this way.
Boutiques too?
Boutiques you might be working on a model of significance 30 days in but still it would be mostly done by a senior analyst - at a top EB and I took the first stab at an operating model about 2 months in because that’s when a new sellside happen to solidify. Remember most of staffing isn’t just out of thin air but when new processes kick off. For example, You won’t be brought in 3/4 of the way into a deal to do a merger model from scratch, but if you get staffed at the start of a process early on then you get the reps that way
100% a woman diversity hire
How did you pass the interview and technicals?
Memorizing the 400 guide and even the academic version of valuation techniques is not the same as building a model in excel lol. Usually the disconnect is lack of excel exposure in new analysts
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