Silver BananaTopic
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Corporate Banking final interviewI have a Corp Banking interview coming up soon for an energy group. For those in corp banking, how should I prepare? What is the typical corp banking interview like? Any energy specific items or ratios I should focus on? Thanks for the help....
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How can I successfully get into investment banking?Hello everyone, I am a high school freshman whos life goal is to get into investment banking. Here are my stats: School: competitive public high school in Silicon Valley Grades: only one semester so far, I got straight As except for Algebra II/Trig where I got a B I should not have received. I ...
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Company Interview: Fisher Investments - Account executiveThe most difficult interview questions asked were the behavioral ones that were designed to test how I handled adversity. I was asked questions that concerned topics such as previous experience will negative customers and how I handled the situation when faced with stressful situations. The question...
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Infrastructure at Canadian Pensions (CDPQ and PSP)Hi guys, I posted this in the PE subgroup but couldn't find any answers as of yet so I was hoping to see if someone had any insights in this group. I'm increasingly becoming more and more interested in the infrastructure space, especially when it comes to careers within Canada and know that the pen...
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Perella Weinberg SF vs NYCan any fellow monkeys who are familiar with Perella's NY/SF offices shed some light on relevant info for picking one of these two offices?...
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RBC NYC M&A vs. Moelis SF GeneralistI am now trying to lateral after 1 year of IB related experience. My next 2-year goal would be PE or HF. How would you guys choose given those two options? Consensus might be Moelis SF since it's an EB, but my thought is that RBC isn't bad because it's on their M&A team in New York, and I can probab...
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Technology company to investment bankingI worked in investment banking for a small banking my junior year summer and ended up taking a job at a large technology company working in data science/AI because I thought the work I'd be doing would be very interesting. About 8 months in the job I realized it is not for me and looking to go back ...
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Does the Investment Banking Wage Gap Still Exist? April 10th. What does that day mean to you? To women across the country, April 10th is known as Equal Pay Day, symbolizing how far into the year women must work to earn what men earned in the previous year. The National Committee on Pay Equity launched Equal Pay Day in 1996 to raise awareness ...
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What are the Best Groups for JPM??**Intro** I am an incoming IBD summer analyst for JP Morgan. HR said that group placement will be announced in March, so I am trying to narrow down my top choices. **Two Questions** 1. Which groups have the best exit opp? I heard that Healthcare, M&A, FSG, FIG, and T/MT) are the best so far, but ...
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From Commercial banking to Private banking?Hi!I will do a commercial banking internship in hsbc uk this coming summer. For some reason,I want to work in private banking for full time. If anyone here have similar experience can give some advice about transferring from commercial banking to private banking? And specifically, if by any chance...
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Why trading is so much popular in today’s worldPeople all over the world is always struggling hard to secure their financial freedom. You might have high-class education and skill set yet there is no guarantee that you will be rewarded with the perfect job. For this very reason, people always look for alternative source of income to support thei...
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URGENT: GOLDMAN DRUG TEST ON HRWORKWAYStook my drug test last Friday, checked hrworkways and it says successful... does that mean I passed?! Or does it mean it has been "successfully" received lol ...
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Need Help, TWO IB Offers, Exploding This Week!I hear these are both up and coming BB's, I have an offer at both. Let me know what you think. http://dinogroup.com/wp/ http://www.patolan.com/ ...
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Wharton kids favor restructuring/distressed investing?I was talking to a few friends who are currently there and learned most of the top kids (current junior/senior) are going to restructuring shops (whether it be PJT Rx, Millstein, Houlihan Lokey Rx, Evercore Rx, Moelis...) or distressed funds. Of course, you have a few at silver lake and such but ove...
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Beyond the guide: a list of real interview technical questionsOver the past few years, this forum has helped me a lot, so I thought I'd give back. The following questions are all from interviews and superdays I've had at various BB/EBs. I only posted technical questions that are not in the traditional guides. I come from a target b-school and did not go thr...
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Is it possible to lateral to the associate level without an MBA and no prior IB experience?But say you have relevant "deal" experience (aka Big 4 FDD/Valuations type stuff) and have focused on a specific industry. Has anyone ever seen this happen? I would assume this never happens at BBs but what about boutiques and smaller shops? ...
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IU to Stanford?Hi all, I am a student at Kelley business school at Indiana University. I am looking to pursue a career in investment banking and I know that Kelley is not a target school for most banks. However, I heard that a lot of Kelley grads get recruited by William and Blair which is in Chicago. How reali...
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Company Interview: Harris Williams & Co. - Associate 1The technicals in the second round 1 on 1 were very straightforward and pretty much right off the guides. The super day had two different short case studies. One was more valuation based and the other was more big-picture with regards to what kinds of questions you'd ask a management team during the...
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Life at Morgan Stanley - LondonJust got accepted to this event. Has anybody been to it previously, who would like to share their experience? Is this an opportunity to land an internship next summer? Anybody else going this year and not sure what to expect? I'm debating whether or not it's worth flying in from Dublin for a 4 hour ...
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Career path changeI have been at a firm doing valuation work for about a year and am finding out that I strongly dislike the work for a few reasons: 1- I know I am in finance, but I really dislike working in huge excel models all day. I am not terrible at it but I find that it drains me and bores me to death. 2- I ...
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Enterprise Value + Equity Value Technical QuestionsHey guys, So recently got asked this question in a first round interview -> If you buy an operating asset worth $100 with 50% cash and 50% debt what happens to both EV and EqV? (In theory) I'm confused how to tackle these questions, and anyone with strong technicals care to explain? I've read the...
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Investment Banking Inter/Fulltime as CS majorHi Guys, I'm a CS major, junior/rising senior and minoring in Economics from semi-target university. I have very much interest in Investment banking(20% for money, 80% for what they do) or other related fields. I did my internships as Application Engineer and Application Developer in Bristol Myers ...
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Projecting Bank Balance SheetHello to everyone. I am a little stuck on projecting a bank balance sheet here. Could someone help me what is the correct way to project the " Debt securities on the asset and Liabilities side for a bank. Should it be a simple % growth or is there something better to use or more exact? Also on a si...
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Top 20 Banks To Work For - "Employee Satisfaction" - 2018 EditionSaw this just posted on Poets & Quants (sourced from WSO) and wanted to S/O Patrick & WSO for being the ones taking the reigns and providing this insight that nobody else has offered! It's awesome to see this site earning even more recognition and autonomy in the space. Let's see what you guys think...
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London School of Economics - General Course - Should I go?Recently accepted into the program. For those not familiar, it's a year long study abroad program in London. Considering to attend during my senior year. I already secured an internship at an IB firm for the upcoming summer. I have two concerns. In the situation that I do not receive a full time o...
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Predatory Lending & lawsuit. HELP PLsssss lolThrowaway. I've accepted a job at a firm right? It's all good. Good office. Good peeps. I find out today that the firm's being sued. What for? It financed a company. That company now named in law suit. Alleged predatory lending. Like, I don't have a problem with this company. I do not think they...
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Predatory Lending & lawsuit.Throwaway. I've accepted a job at a firm right? It's all good. Good office. Good peeps. I find out today that the firm's being sued. What for? It financed a company. That company now named in law suit. Alleged predatory lending. Like, I don't have a problem with this company. I do not think they...
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Why Banking in 2018?From what I notice on the forums, so many people think that going into banking will make them rich and happy after they go through this grind. This is particularly obvious on my college campus. I attend one of HYP and I see so many people walking into this field looking it as a great "career-starter...
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Easy Company to Practice 3 Statement ModelHello all. This is my first post on WSO. I am mostly doing this for fun, as I am at a non-target, but I am an analyst for my school's fund. I was wondering if you guys had any good companies that were simple to model. I am looking to build a somewhat complex model (i just built a relatively complex...
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Associate at a small bank, didn't get offer at BB internship, what do I do now?I graduated from an MBA program in 2017. Over my summer I interned at a BB but didn't get an offer. No real good reason other than the MD's didn't know me well enough. So I left on good terms. Problem was, that threw me into the lateral bucket, because all the other banks filled their 2017 class...
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Valuation help, thanks!Hi, I've been set a valuation assignment to value a small business and I have a few quick questions that I would appreciate help on. 1. If there is a one-off maintenance cost every 5 years of 200k, would it be appropriate to spread the cost annually, i.e. 40k per year? 2. If the acquirer is look...
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2019 NYC SA recruiting timeline pushed up to March/April? Currently a sophomore at a top undergrad Econ program. Hearing from friends at BBs in NY that first round interviews are going to be starting in Spring, around March and April. If this is the case, will interviewers just not care about what you're doing this summer? It just seems like at this stage...
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Really annoyed working under know-it-all analystHas anyone ever had problems working under someone who makes it his/ her life goal to make everything a lecture? I recently interned for a boutique investment bank under another analyst and at first I thought it was great that someone above me was willing to show me the ropes. Lately its been a lot ...
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2019 IB Accelerated RecruitingAlright monkeys, here's the 411. I'm a sophomore at an HYP school. JP jumped the gun this year with their 2019 recruiting - they opened 2019 SA apps today. I know that in order to pass the resume screen and score interviews (which will be happening in APRIL/MAY of this spring!!) I'm going to need to...
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Summer 2019 Recruiting TimelineWith the investment banking recruiting timeline seeming to move earlier every year, what do you guys think that the timeline for Summer 2019 recruiting is going to be like?...
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If I see another "Incoming IBD Analyst/Summer Analyst" on LinkedIn.. I'll k--l someone Guys, This is a serious and sincere plea to any of you undergraduate kids who're using these silly titles on their LinkedIn profiles. Please for god's sake, take this out. It just looks stupid and wannabe-ish. I don't know who started doing this and where, but it's just annoying to see. We get that ...
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High yield ratingHello, Do people with high yield rating experience from CRA build relevant experience to lateral to lev. finance financial sponsor or M&A group? curious how cra analysts are seen by IB recruiting team. Interested in credit investment/resesrch at an AM or one of product groups mentioned above....
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Advice to Lateral into Investment Banking?Hey guys, I'm a senior at a non-target state school and tried my luck at FT IB recruiting this semester. Although I wasn't a summer analyst, I've had a number of internships and built a reasonably strong resume (solid [not stellar] GPA, 5 internships, strong campus leadership, valuation experience)...
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Places to live in NYC this summer that is not NYU? What's a good place or site to use to get a decent housing arrangement this summer? NYU is like 4600 almost for the entire summer and am trying to find something less because I feel that's just not worth what you're getting. I saw https://www.nycintern.org have pretty dam decent housing and it'd be ...
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Company Interview: Credit Suisse - Corporate FinanceI was asked a case interview, in which I have to analyze a various situations using finance concepts such as NPV, IRR, decision matrix. It also required some economic background as well to answer those questions. There seemed to be right or wrong answers and it was important that I say the right ans...
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How to buy stock with a credit card?I'm a little invested but I feel like right now us a good opportunity for me to make bank. So to that end what are some good ways to buy stock with my credit card? Should I just buy some gold then immediately sell it etc. My limit is 27k for all three cards....
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Company Interview: Bank of America Merrill Lynch - AnalystQuestions on the project experience i had working at an energy investment firm - how did you determine the project beta. some more questions about my experience working in M&A and one live deal i worked on there. why i chose major and school. tell me about a time you exercised leadership. some basic...
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Why are recruiters so useless?I’ve dealt with both internal corporate recruiters and external (headhunters) and I continue to be amazed at how awful they are as a rule. I applied to a super regional bank, a recruiter reached out with some questions and stated that after I filled it out they’d reach out to set up a time to ...
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Which is more sensitive in a DCF: FCF or the Discount Rate? Looking at the impact of increasing taxes on valuation. On one hand, (assuming debt is in the capital structure) the cost of debt decreases due to the larger impact of the tax shield. This reduces the associated risk of debt thus reducing the risk profile of the company, reducing the cost of that ...
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Private banking internship in Monaco or in PWM in Canada? (2nd year student)Hi, I'm a 2nd year university student currently living in Montreal (Canada) looking to get an IB internship next year. I received two offers for this summer: 1. Intern at a large private bank in Monaco 2. PWM internship at a large bank in Montreal. I want to have a career in Canada, but love Monaco...
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Company Review: Bank of America Merrill Lynch - BofAMLSeniors take quality of life initiatives seriously. Large class sizes spread work around and mean that you will likely meet people that you get along with. People don't seem as pretentious as at other banks. Will get live deal experience, do M&A equity and debt issuance in most industry groups. Mana...
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2018-02-182018-02-18 ...
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Choosing between mid tier BB vs Oxbridge MAI'm originally from North America and am attending a university (UCL/KCL) in London and have accepted an offer from a mid tier BB in London (DB/UBS/CS) but also recently learned that I have been accepted for a MA Public Policy program at a Oxford/Cambridge (duration = 1 year). I have contacted the ...
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CMBS and CDSWorking on an investment case study where the national oil company of a sub investment grade country wants to sell its office premises for $150 million on a 15-yr lease with an option to put it back at the end of the lease. Rather than a straight sale where one investor buys the building, I was thin...
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High School Question420.....................................::..25$(225)?:/:$743 avjuszsargggg420.....................................::..25$(225)?:/:$743 avjuszsargggg ...
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Best exam book for Series 79 and Series 63?Hi all, hoping to leverage some of the older more experienced analysts/associates on this site - what are some of the better known books / practice guides for the Series 79 and 63? Additionally, if anyone has any thoughts on the timeline for time it takes between studying and taking the exam that wo...
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A company uses $50 of cash to buy PP&E, how does the EV change?The answer is supposed to be that EV increases by $50 because you are converting a "non operating" asset (cash) to an "operating" asset (PP&E), but I don't really understand the accounting behind this. Could someone please explain in an alternative way?...
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Startup to automate IB analyst work?I wondered when some startup was going to try and tackle this. Pellucid Analytics is trying to add some automation to the pitchbook generation process. What do you think monkeys? Will this catch on? Will analysts be replaced by software?...
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Company Review: PJT Partners - Best bank on the streetPeople are great, analysts are very smart. Unlike other boutique banks, the personality of the analysts is laid back and chill, but also very intellectual. Work experience is second to none, deal flow is decent, but exposure and responsibility is best-in-class. . N/A, Nothing to complain about. I ha...
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Is IB realistic for meHey guys, I know there's a million of these post but I'm really unsure of what to do and could use some feedback on my situation I am a computer engineer from Rutgers University (Big Ten State School) -3.4 gpa (2.7 underclassmen GPA || 4.0 upperclassmen GPA) (due to personal issues my freshman and ...
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Which investment banks out there may be willing to structure/deal non-traditional securities?Say I'm a risk-bearing entity that wants to offload some of my risk via a type of non-traditional security. My understanding is that a bank might underwrite and buy these securities from me, and sell them to investors. Are there any banks known to be willing to take a look at facilitating somethin...
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Feeling Undervalued? Do ThisIn life and in our work, it can be easy to lose our sense of value. We look around at other people who are seemingly achieving more than us, "worth more," or otherwise more valued, and we can get down on ourselves. But when we look at situations differently, take control of our thoughts, and begin...
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Onex Toronto RecruitmentHi everyone, First year analyst here in NY, looking to move back to Canada soon for family reason. Was wondering if anyone knows the timeline, recruitment process and headhunter handling Pre-MBA associate hiring at Onex Toronto office. How does the logistic look like for someone not currently worki...
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How DO you Find EV of a Private Company ????If you have the financials of a private company how do you find the enterprise value? Is it just the total of the assets (market value) + net debt? Thank you!!!!...
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Company Review: Société Générale - SatistifiedI did not start my internship yet. . I did not start my internship yet. ...
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Healthy Midtown (East) Lunch Spots?Trying to not die so getting healthy. For those of you similarly concerned, what healthy lunch spots in the Midtown (East) do you go for lunch? Bonus: what do you do on Seamless for dinner? Also, how are you guys tracking macros / what places that give you that info do you go to? It's pretty hard t...
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MBA from USC Marshall vs Georgetown vs Carroll vs Questrom for IB/AM (International)Hey guys, I'm an international with overall 5+ years of experience. Relevant finance experience: strong foothold in Indian Equities + cleared CFA L3. I have to choose a B-school from Georgetown/USC Marshall/ BC Carroll/BU Questrom for a full time MBA. Post graduation, I want to break into Asset Man...
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Company Interview: KeyBanc Capital Markets - KeyBanc Capital Markets Investment Banking Summer AnalystThe technical interview questions were the hardest aspect of the interview. These included accounting questions discussing depreciation and its effect on various financial statement lines. In addition there were more specific research questions i.e. walk me through how many golf balls would fit into...
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How to properly ask for other bankers to speak with?Hi all, So I'm currently networking as I'm trying to break into IB (I go to a non-target). My school actually has a good amount of alumni in banking and I've been reaching out to them. So far, my informational interviews have been going really well (I've had multiple people tell me I ask good ques...
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Probing Questions on a Deal - How Best to Respond?I am wondering how others would handle this situation. My firm was running a sell-side. At one of the the management presentations, one of the MDs of a buyer started making small talks with my director and I (then later, directly with me when I was alone at one of the breakout sessions). He would ...
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Fordham 3+2 with Columbia or Georgetown and 300k DebtHey guys! I'm a high school senior applying to university as a finance major and I've been accepted a couple places early action. Unfortunately I'm in a unique position where my family has a modest income (100k combined) but high investment property assets (dad rolled 401k into property in 2008) and...
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LBS/Darden/Ross/Johnson for NYC IB Associate RoleHi all, Curious to get people's thoughts on MBA programs. I am coming from a non-finance background and I am hoping to use my MBA to pivot into an IB role in New York. I am choosing between LBS, Darden, Ross, and Johnson. I am leaning towards LBS for the international experience but would like to ...
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What do Post-MBA IB Associates Do?Hey all, I've seen a lot of posts about people not needing finance experience getting into IB from top business schools. How do these Associates manage analysts if they've never had that experience? What are the duties and roles assigned to a post-mba associate? I'm assuming it's different and mo...
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Programs similar to the Junior Analyst IB Program at JPMGraduated in May 2017. I am going through the interview process for the JPM Junior Analyst IB Program. I was wondering if there are similar IB / ER programs tailored to applicants with non-traditional backgrounds (i.e. non-target, 1+ years in a finance role other than IB, non-finance backgrounds, et...
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Alliancebernstein onsite interview Hey guys! I have an onsite interview with alliancebernstein for software development associate - their Technology and operations program (TOP) role. I would like to know what kind of questions are asked, esp the financial questions. I am from a technical background. Just want to be prepared for all...
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Company Interview: Morgan Stanley - Morgan Stanley IBD AnalystThe individual case study was looking for your ability to structure a comprehensive argument for why you were choosing a particular target. This had to include strategic fit along with valuation considerations. One note on the case study is that there is barely enough time to read through the case a...
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Salary for FO Whole Loan (Mortgage) TraderHello all- I've been in the MO for an elite BB (JPM, GS or MS) performing due diligence on trades for 5-7 years and thinking of moving over to the FO for higher comp. Over the years, I've made connections with many folks in the FO (internally and externally) and proven myself FO worthy. I understan...
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Most Promising IndustriesOver 2017 and into 2018 we've seen a lot of larger deals announced in the TMT, Healthcare, and Consumer Retail industries, along with many sponsor deals. I'd like to know what sectors you guys think will be most promising and deal-flow heavy over the next 3-5 years?...
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Investment Banking Analyst after MBA: is it possible? Anyone heard of it? After MBA it may not seems as the smartest decision but with zero finance experience and huge desire to start career on the investment side (PE, HF, VC), IB is a necessary bridge to all those roles. Well, I am concerned with two things: is it possible and whether it makes sense? Thanks....
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Big 4/CPA then get my CFA and break into IB? Hello WSO Network, Here is the deal. I am 22 and a Senior Accounting student with a subpar overall GPA (2.9/4.0) and a decent Accounting GPA (3.6/4.0). I want to break into IB, I attend a non-target university as well. I know that I am going to have to grind 10x harder and go a different route to ...
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The best of the back (or middle) office?obviously most people here are IBD or bust, but for those of us happy making a decent living and prioritize work and family time, what are some of the better roles in the BO and MO? the only real BO/MO role i am familiar with is Trade Support so i am interested in knowing what else is out there. ...
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Perella Weinberg Chicago.....................................................................................................................
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Upward MobilityI'm really interested in a long-term career in IB (transitioning from Analyst > Associate > VP > MD etc.). I'm starting to think about junior summer recruiting, and I want to know which banks will be best given my career goals? For example, I heard the majority of analysts at Lazard leave after 2...
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Los Angeles Investment Banking ChatI’m currently a sophomore Finance and Economics major at a non-target school in the Midwest, but I’m interested in investment banking in Los Angeles. I’ll be interning there this summer at a BB, but not in IB. I was wondering if anyone on this sub with experience in the industry (full-time or ...
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Good interview questions?fhkgdgkgjfgjfkgdfjgkdfjgkdfjgdfkgjdfkgjdfkgjdfkgjdfkgjdfkgjdfkgjdfkgjdfkgjdfkgjdfkgjdfkgfjgkdfjgkdfgjdfkgjdfk...
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2019 SA Recruitment Investment Banking MegathreadUpdate which applications are open/early recruitment, etc... I want to establish a single place where all students can come come to share knowledge, questions, information, and concerns regarding investment banking summer analyst recruiting for summer 2019. US focused. Good luck to everyone. Goldm...
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Quit EB/BB before first year of analyst program is up?Hi, I am seeking advice on possible exits in my situation. I am at a BB/EB in London, and despise the work from the bottom of my heart. The team I work with is horrible, and I haven't been able to sleep properly since last summer due to stress and constant bombarding of email requests from seniors...
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Company Review: Raymond James Financial Inc. - AnalystGreat work/life balance, office culture, ability to take on as much responsibility as you'd like..... Tough working environment at times - put on an island iin terms of figuring stuff out for yourself due to lean deal teams...
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Company Interview: Wells Fargo and Company - IB SAPretty straight forward interview. First half behavioral, why IB, why us, who did you talk to at our bank before this, ecct. Second half was technical, how do the 3 financial statements link, walk me through a DCF, how do you calculate the growth rate, what is WACC, how do you calculate it, whats th...
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Company Interview: Goldman Sachs - Goldman SachsIf you were to purchase a house at a certain price, and then sold the house at the exact same price a year later, is there any way for you to make a profit? What is a recent deal you have followed and can you walk through the specifics. What happens to each financial statement with a 10$ increase...

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