I'm an engineering student with no background in finance, and just got accepted into IB. What resources/knowledge/skills/websites etc would you recommend to make up for this lack of finance background, to help me succeed on the job?
I suppose this applies to other non-finance majors too.
So far I've just started doing some general reading and youtubing on finance and investing (more specifically - Bruce Greenwald's lectures on value investing).
Investopedia offers a (paid) course called The Fundamentals of Investing, which sounds interesting. Is this relevant/helpful enough in IB to make it worth buying?
I've always wanted to learn a bit more about statistics as well, but don't know how helpful that would really be.
Another option is to work through some of the modelling courses etc on WSO, but I suspect that most of that stuff will get covered during training or on the job. Thoughts?
Any advice would be greatly appreciated.
How did you make the jump? Did you have any prior Ib internships? Better read books on corporate finance,than investing.
No, I didn't have any internships. I had pretty good academic achievements, as well as soft skills that help with interviewing. Using the guides to craft my story also really helped.
I should mention that I live in an emerging market country, so don't know if it's easier to break in here than in the US etc.
Thanks, anything specific in corporate finance that you would recommend to start with?
This is a list of books mentioned on WSO
Fundamentals of corporate finance by Richard A. Brealey, Stewart C. Myers, Alan J. Marcus
Brealey & Myers on corporate finance: Financing and Risk Management
Brealey & Myers on corporate finance: Capital Investment and Valuation
Valuation: Measuring and Managing the Value of Companies by Tim Koller, Thomas E. Copeland, Marc Goedhart, David Wessels
Accounting for M&A, Equity, and Credit Analysts by James E. Morris
Investment Valuation: Tools and Techniques for Determining the Value of Any Asset by Aswath Damodaran
Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions by Joshua Rosenbaum, Joshua Pearl
The Interpretation of Financial Statements by Benjamin Graham, Spencer Meredith, Spencer B. Meredith
Quality of Earnings by Thornton L. O'glove
It's not all corporate finance,but I think it doesn't hurt :) And congrats on your job!
What’s your base knowledge? Have you taken financial and managerial accounting or basic finance? Do you know what time value of money is?
This will help everyone know what they should be recommending you.
My base knowledge is very little to be honest. Thus, I think it would be best to start with a good foundation, whatever that entails.
I had a little bit of basic accounting in high school, and I had one university course that covered DCF and the time value of money.
To get a better view of how the economy as a whole works, I've watched a couple youtube videos, and I'm currently reading "Economics in one lesson" by Henry Hazlitt.
I'm very eager to learn, and just wanna know what would give me the best returns for time invested. Any advice would be greatly appreciated.
Honestly just read the Rosenbaum book and practice building the models they have from scratch
That seems like a decent option, thanks.
Aswath Damodaran, an NYU finance professor, has a finance blog that is worth checking out. http://pages.stern.nyu.edu/~adamodar/
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