Hey, everyone.
I have been interviewing for a boutique IB firm that focuses on M&A. So far it has been going well (Finished up second round interviews this past Friday), but I was curious what you guys thought I should be studying for, such as what topics I will need to know going into this internship. Mainly, I have just been going over valuations, such as comps or DCFs. But since this firm is mainly focusing on M&A, should I just primarily learn about acquisition comps or something else entirely?
I'm sure they will train me as well, but I want to have a general overview of the topics.
Thanks.
https://www.wallstreetoasis.com/forums/how-to-best-prepare-for-a-summer… there's a lot of information and related threads in that link that should help
Thanks a lot for these resources.
Bump. (Add hunter.io for emails to the list)
Not someone actually in the industry but I think just learning the day-to-day jargon in any field is pretty important simply because it'll save you time and the embarrassment of asking a "stupid" question.
good luck!
MarkBaum - this is true but the best way to pick up on the jargon is to be on the job. These are the types of resources that will prepare you for being "on the job". Otherwise, you risk learning jargon that is incorrect / silly that will actually impede your performance "on the job"
Here's a list of things you should have some knowledge of: (1) The three financial statements, i.e. what the main line items are, the accounting concepts underpinning them and how different items are related to each other (2) Excel - most of the commonly used formulas and shortcuts, as well as understanding how to make some commonly used graphs (e.g. growth bridges) (3) The mechanics of valuations - having a conceptual knowledge (i.e. walk me through a DCF) is fine for interviews, but it'd be more useful on the job to look at some excel models of valuations, see what's going on, and then replicate these. Knowing (1) and (2) will help for this. (4) The sector that the boutique specialises in (should you get the offer). This won't be as useful if you are generalist obviously. If you are focusing on one industry though, the financial statements may look a bit different compared to a bog-standard retail or manufacturing company. (e.g. this particularly applies for things like FIG)
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