What did you actually 'do/learn' on the job besides powerpoint and basic modeling?

So before I get trolled for being an investment banking noob let me just say that I have done my years in banking and am curious about the results. I wonder whether my experience is 'untraditional' or what the typical analyst/associate learns.

I haven't really learned too much in investment banking. From looking at sample models, threads, it seems like the norm is building complex M&A models with PPA adjustments, deferred tax schedules with NOLs, advanced LBO modeling with asset vs stock purchases/338h elections, and complex models. I know capital markets is different but I was in a fairly technical group and was exposed to a lot.

The average junior tenure in banking lasts, what, 2-3 years? Let's say you get staffed on a few live deals that takes several months. In general you really get only deep exposure on a handful of topics. In my years I very rarely if ever got exposure outside of general annual company projections (most were fairly basic) and a good chunk of my time was spent in powerpoint rather than complex monthly or quarterly modeling. To this day while I can build a solid financial model I still need to consult a lot of threads since I haven't really learned much except powerpoint.

The other day someone asked me how to capitalize operating leases in an LBO and I had no idea. Apparently using an EBITDAR multiple and then using some multiple to treat the lease expense as long-term debt. I had no clue whether to amortize or depreciate it or just leave it on balance-sheet after the adjustment. Things like this make me question the real learning curve in banking.

So for those of you in banking or having finished a program, would you consider yourself an excerpt LBO modeler that can crank out complex models from scratch? Do you know accretion/dilution or can you accurately model stock buybacks for a public company? Can you even build a detailed operating model with key drivers?

I ask because I feel like in banking I only got deep expertise in a specific line (in my case we worked with preferred equity a lot for private companies), so I'm not sure whether I developed the typical banking skillset or if that even exists.