Python, R, Tableau in IB?
Hi all,
There seems to be an increased focus on learning Python, R and other data analysis skills for better placements in Finance. I want to know what scope of work in IB requires such skills. I am a student with no prior experience in Finance and am wondering how crucial it is. If anyone can give me some examples of their field of work and if it is relevant to them, it will be cool. Do you reckon someone working in M&A or Leverage finance would have much work with such skills?
I continue to be amazed by how much this sort of question pops up. At least in terms of IB, I've never had to use any of these languages nor have I ever seen anyone talk about or use them.
While I'm sure they can be useful to learn to increase your logical / critical thinking skills, you will not get any material value from learning these languages. I would spend this time focusing on understanding financial / technical concepts or learning advanced things in Excel, which is a "language" you will be using extensively in IB.
Also, can someone please tell me who is spreading this rumor that knowing these languages will give you a leg up in IB?
Well, there is no exact mention that its helpful for IB specifically. However, I do see a lot of masters(Finance) courses teaching Python and R as a part of the curriculum to enhance student's prospects of landing a job in Finance. So, i just wanted to know if the touted "Finance jobs" entailed IB roles. And fin meme pages that tout these skills as increasingly relevant for Finance. I know, I could have been more prudent when considering the source, but nevertheless, thanks for the info.
Very good answer A2! Agree 95% but there are situations where knowing a little python can be helpful and its a good super power if you know how to lever it. Not mandatory and excel/ppt/vb more important but if you are technically inclined its not a bad skill to develop. but not major programming. mostly some quick data analysis or automation. ignore R and focus on python!
Agree on ignoring R. Picked up R in college at analytics classes, but never really used it, unlike Python.
I have built a BI solution using Tableau for a local stock exchange prior to moving to ER, and I also used Python sometimes when I worked for a stock exchange. Now I am doing ER and IB (IPO, DCM) at an MM IB since the beginning of 2020, and did not have any chance to use neither Tableu nor Python yet. You simply don't need it here. Your time will be better spent learning Excel and modeling.
Tableau is very simple. You can probably learn it in 1-2 days. There is a lot of online courses. It is not a coding language, unlike Python and R, two powerful languages especially for data science. If you are a math or stats major, you should have had some experience with R already.
For IB, you really don't need any programming skills. However, for the sake of your future, I recommend learning some programming languages. Python is a good place to start.
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