Tips & Suggestions for adapting as a new Investment Banking Analyst (mine and yours)
Hi everyone. TBH I don't know much, I am less than a month in to the role, but here's some stuff I've picked up. So I am mid way through my 3rd week as an IB analyst, without a previous summer internship at this bank (Tech M&A). I've honestly already felt pretty overwhelmed a few times and been having some imposter syndrome, but I've been gradually testing/trying that I've found to make the ramp up more manageable. In my short 3 weeks here's some stuff that I've found to be helpful, and please share your own tips to help out.
Organization:
I've found organization to be absolutely huge. I noticed that I started to have hundred of emails in my inbox and a lot of files on my desktop. I took a morning to create rules in Outlook to forward admin emails to the admin folder, move all my deal emails manually to a deal folder, newsletters and such to their own inbox, a training inbox, and a 'high priority' inbox for pending tasks that I then move to a completed tasks folder once they are addressed. For files I've found making logical folder/subfolder names and keeping them clean is very helpful.
I did a similar thing with One-Note, I have several tabs/folders and just try to use standard naming for each of the files in there (folder for call notes, training materials, self studying, to do lists, etc.)
Excel/PPT:
Still a work in progress, but got my quick access toolbar set up and try to spend free time practicing functions (look up functions, index matches, etc..) and going through training modules to try to get quicker around these tools. I took a couple of extra run around the useful parts of WallStreetPrep/TTS and the firm training materials to try to internalize concepts and look at the bigger picture on top of just the mechanical aspects of it. Have been trying to also study some previous deal materials in order to see how things are done and why they are done that way.
Not sure how to really practice PPT, need to work on this more.
Training:
Our firm provided slide decks with company/sector specific information, and printing and highlighting/taking notes on these as well as taking time to review them several times over has been helpful for understanding and internalizing some of the more firm and industry specific type of information.
Repeating Mistakes: I also made a master file with mistakes that I have made (has been on unimportant stuff so far fortunately), but I have been making a list of things to watch out for/not repeat in order to make sure that I don't come across as a slow learner/idiot.
Social/Interpersonal Honestly, I've been struggling a little bit with the social side of work, I feel like I'm not as close with people at the firm as the people who interned before me, I've made a few work friends, but unsure how to really handle these relationships. Have gotten a little too personal a few times perhaps, nothing insane, but will be sure not to do this again.
I made efforts to grab coffees with a lot of people at the firm at all levels, and I think that was a decent way to get some face time and build a little rapport, but not sure how effective this really was.
Struggles: I've been getting imposter syndrome, feeling like I don't know anything, etc... but already looking at it more objectively it seems like I've been making solid progress. It's been tough adapting from being a student for sure, I saw my parents for a day last weekend and felt heavy nostalgia and sadness, but I also feel a sense of purpose towards building my own life/career and I know that they're happy about that.
Let's see what you've got