What level of modelling for Summer Internship?
What level of financial modelling is expected from Summer Interns?
My summer at EB got shortened and moved to virtual, hence I am worried about what might be required from us with regards to the technical aspects of the job.
You're not going to model. No analyst or associate would ever trust an intern who is 1. remote 2. on a shortened internship unless you are a modelling wiz. Even then, unlikely you will touch a model
Agree with the post above. You will most likely not touch a model that is going anywhere near a client. If they have you do a summer project where you have to do different valuation methods maybe then but those models are of no consequence.
So how do people learn to model?
My best guess is that during the Analyst Training in summer, prior to hitting the desk as as Full-time Analyst.
The rest you will learn on the job and extent to which you acquire those skills early on depends on whether you are at BB or EB.
You won’t be modeling at any EB/BB with a structured program
Best hit the PowerPoint prep. Processing deck mark-ups for days.
Would that be the same across all of the teams?
In my group (EB) that's the most you'd be doing - mostly making slides given heavy guidance, and some Excel work (not modeling) such as making charts.
It's common for interns to get a "summer project" that includes building a valuation pack with LBO, DCF, trading comps, transaction comps, etc. They'll assign an analyst "buddy" to help/review, but for the most part it's a solo project and it's the only modeling experience the interns get. At the end of the summer the interns present their analysis to a small group of senior bankers (including the BUM / Staffer) that will use it in evaluating return offers.
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