What do analysts in an M&A group actually do?
I want to learn more about the M&A group, and I want to really understand what people mean when they tell me that M&A includes the most "modeling."
but my real question deals w/ what analysts in M&A product groups actually do on a day-to-day basis. What types of valuation methods are most common? comps? precedent transactions? Is the analyst's job to assemble these?
Also, what types of "models" do these analysts run? What types of inputs/drivers go into these models?
more like it includes more database running and doing secretary work...
you do everything from comps, dcf, a/d, lbo model. Depending on how big your group is, sometimes you are even in charge of operating models.
M&A groups are going obsolete soon though, it's a biggest waste of resources and every group should run its own deals instead of letting someone who has no exp in tech to run some microsoft valuation. That being said, for the time being it's still one of the best groups.
^pissed TMT banker
u mad im in yo bankz, doing yo models?
As long as they're excel and not people, do all my models, please.
What are the activities of M&A analyst? (Originally Posted: 10/22/2007)
Hi guys, What are the typical role of an M&A analyst at I-bank? What all should I be prepared for such interview? Thanks for your much needed help. S
um...well you eat sleep and drink excel. read the vault guide to ibanking. also, think hard. realize there are 168 hours a week and you will be working 80-100 of them doing mindless and irritating work. think long and hard before going into ib. s&t is better hours and same pay.
I would recommend ScoopBooks "The Practioner's Guide" to Investment Banking. I work in PE but my analysis is obviously very similar to that of an M&A banker's daily routine. Check out their website. The book is pricey ($100) and unfortunately you dont have the luxury of putting it on the company account but I think it is a worthwhile investment.
Also, note that you really do not need a business/finance background to get an M&A job. You need a strong academic profile and outgoing personality to ensure that you "fit" within the culture and have the requesite intellectual horsepower to perform mundane calculatiosn all day.
Good luck!
i think the guys in M&A division of those big houses are really smart guys, who are expertise in either accounting,law or finance, and have strong communication skills.
on the other hand, someone in the house told me that their M&A team members are not highly professional in this field, but only a good project manager, outsourcing all the work to accountants/lawyers and so on
which is more accurate description about the real world of these guys?
but i will definitely second junkbondswap's recommendation on ScoopBooks; fantastic source of info, definitely good prep if you're going into a technical interview, although might be overkill for a first year analyst interview; not sure, didn't know any finance or accounting before banking
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