What is the difference between executing / owning different work-streams?
Have heard that some banks differ in terms of the expectations of analysts in owning vs executing certain work-streams such as modeling and CIM preparation. What does that mean exactly? Does that mean that some banks expect analysts to just source and pitch for the deals while others expect analysts to actually execute the transactions from start to finish? Is that what is meant by this?
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You would never be expected to source or lead deals as an analyst. I mean logically speaking who would you even turn to source a deal - Chad from the Finance club? How do you even know how to 'lead' a deal?
I would argue that it's actually more group-dependent than bank-dependent and depends really on whether you're leading the operating model or off-sourcing it (for example to the M&A team or country team). In some groups you'll be doing the CIM entirely, for some, you'll be doing more of the sector part (strategy, market overview etc) and the valuation is done by someone else, it just really depends.
As an analyst, you'll be doing whatever your team is assigned to do (probably by the leading MDs), and within that, likely stuff like updating comps / doing the valuaton/ business plan etc but you'll never be leading the deal or expected to come up with some nuanced analysis. 'Owning' the model refers to being the primary person responsible for it, but again, you'll never be 'owning' the deal
So from my understanding, by 'executing' the person probably meant working on a small part of the CIM rather than 'owning all of it'. And same goes for valuation?So in other words, it is a matter of how much responsibility an analyst is given, and that differs between group to group and bank to bank?
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