Summer Analyst - Live deals?How busy have you all been?
Are most bank interns getting 8-10 weeks of live deals? I am a summer analyst at a NYC BB and we have 4 weeks of training + 5 weeks of live deals. Also curious is everyone is getting worked or has it been decently chill so far
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Hope that helps.
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Barclays coverage:
Did you just say 72 hour weeks are sweaty?
he said during the week, not the whole week
anything over 60 feels sweaty when it's your first time experiencing IB hours...maybe once we experience 100+ hours as an Analyst, 70 won't feel as bad.
That's pretty sweaty for a WFH intern, relative to last summer.
what kind of work have you been doing for the live deal? I'm also at a BB on one, but mainly just attending calls and stuff.
Pretty much nobody does real deal heavy-hitting work on live deals as an intern. That real work you do will be pretty interspersed with more admin stuff. Frankly my experience was the pitches are much better to work on because you can actually QB it due to lower burn. The deals are more interesting to follow though, and definitely feel better to be working on.
Turning the annoying comments that the FT analyst doesn't want to fuck with, lol
For damn sure not letting them run with the model or turn valuation/math comments
Someone below said it, but yeah basically turning clients edits to materials - have run a few analyses is excel but nothing too rigorous yet.
Also Barclays coverage SA. Same deal, but my hours have been 8-1 M-Th, 8-9 F, none Sat, Sun 12- idek I'm working now and waiting for comments. In a known sweaty group.
Also barclays coverage and I have done maybe 15 total hours of actual work so far lol
Just curious, what are some of the tasks that you have been doing on a live deal? Currently SA at MM, been on 1-2 live deals but have not touched a model...
People won’t give you model. Unfortunately in 2 months you don’t have to ramp up enough so it’s not more painful to review than for the analyst to do it himself. Except maybe comps
I'm pretty in the weeds on comps but that's it
9-12 is very standard for the industry. I work about the same with about 5-10 hours on the weekends.
Yeah I agree 9-12 is just norm. My average over the past 2 months has been 9-1am +10h of weekend work. Have finished twice before midnight
4 weeks of training?? What kind of stuff do they have you do during training that can drag on for so long??
Jefferies Coverage
- 4 live deals, 1 pitch
- averaging 90+ hours and average of 3am-5am nights
- 3 days of training
- Definitely not chilling and at capacity
Only 3 days of training? Bro are you good? hahaha
lol We started in the week of 1st June - 1st was a holiday, 2nd was HR stuff, 3-5th was training. I definitely thought it was a little less but it is what it is.
I really like the intention of this thread but a good point to make is that most of these are apples to oranges comparisons. Everyone is at a different point on the learning curve given how new this is for most of us so something might take 3 hours for one person and only half an hour for another. A much more effective way to look at it might be listing all of the stuff you did in a day / week instead of the hour count. Just my thoughts
That's not how it works.
Slightly unrelated, but what exactly defines a live deal? I get that pitching is "live"? But if you are literally doing basic analysis on a potential pitch or transaction, is that considered live? From my research and understanding, live is when NDAs are signed and legal things become involved... Can someone please inform and shed light? I hear live deals tossed around all the time and I see different definitions online, so if anyone can share their insight, would be great
A deal is considered live when you are signed to exclusivity with the client. a.k.a you won the mandate through your pitch
Pitch isn’t a live deal, it is the equivalent of marketing. A live deal is when you have been hired by the client who is paying you to advise on the execution of a specific transaction.
Is it common for you to not get a response when you completed a task an analyst or associate asked you for? I get that they are really busy and I was pretty confident with my work, but I am not sure if he didn't respond because it was relatively a simple task and thought it was not great work so it's not worth responding and will fix myself or because he's busy or the man's just not a good person
People are generally too busy. Try to answer but generally no response mean you did ok
Man idk if I’m the only one, but I’m in an SA program at an SF shop and my one live deal has been super chill. Very manageable and I have time to work on a cool side project from another division at the bank. Hours have easily been well below 40. I just got a positive performance review as well and they said they’re trying to put me on another deal if they need.
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