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+25
How was Investment Banking modeling done back in the day?

Howard Hughes

Have always wondered this. Investment banks have been around long before excel - even back to the 80s and 90s - so how would investment banks and private equity firms create <abbr title="initial public offering">IPO</abbr> pricing, valuations, <abbr...

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+12
Net debt: The definite list

plsfixtx

Since this topic comes up on <abbr title="Wall Street Oasis">WSO</abbr> every now and then, I thought that it might help to collect everything in one list. The underlying definition is all "interest bearing liabilities". I will split it up into “positive...

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+7
The wall street personality

Oligarch92

Yet to work my first 'real' job, I have had my first real exposure to people in the industry through reaching out to a handful of PMs, associates, etc. Many are happy to grab lunch, well-mannered, yet, and particularly with more senior people, are unsmiling and morose. It confuses...

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+1
NYC Networking Trip - Tips?

red4ever15

Headed up to NYC next week to grab coffee with some alumni who work in IB at BB and boutiques. Wondering if anyone has any tips for how to maximize my time - I'll be there Mon-Thur. Also should I just stick with asking for a cup of coffee? While I have a good number of contacts I have already spok...

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+1
Submitting application online

phixate

Hey guys has anyone had trouble submitting applications online? I submitted my app to the career portal but it doesn't show up in my job submission page. Didn't receive a confirmation email either. If anyone could provide some insight, that'd be helpful thanks....

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+2
BAML Diversity Programs

coldchicken

Do the BAML spring diversity programs come with an attached first round interview? Have some other conflicts so wondering if the program is worth it....

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+1
Interview with managing partners

Binary_Noise

This comment has been overwritten. This comment has been overwritten. This comment has been overwritten. ...

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+2
Searching for a Mentor

Sangisinacoma

Hey Guys, I am an undergraduate student coming out of the University of Vermont. So far at school I have managed to pull a 3.85 GPA with a dual degree in Stats and Finance. I've had a couple internships (3), and I am also an NCAA athlete on the University Snowboard Team. I'm graduating in May. I h...

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+17
Morgan Stanley Early Insight Programs 2018

pw135

Just thought that I'd make a thread for this year's MS early insight programs. Does anyone know when we will start hearing back from MS?...

105
+2
Nontraditional Student, Community College Education, 30yr old lesbian latina woman

ACCTStudentIB

Hi! I need some crucial school and career advice. Quick background on me, I am a nontraditional student (30 yr. old woman, lesbian, Latina), and I’ve been working full-time for 8 years at a bank for auto finance. (Just call center and paper pushing type of work, went from $27K to $52K in my 8 year...

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+1
Exit Opps: Credit Funds

SirGrayWalrus

What kind of Analysts do they mainly look for? Is it possible to go from DCM/Private Placements/Corporate Banking into Credit/Distressed funds?...

1
+1
Proper way to follow up?

JohnnyZ47

Last week I added an alumnus on Linkedin as a connection, then asked him if he had any time for a brief informational interview since I wanted to make the transition into IB. To my surprise, he directly asked me if I found any job openings that I'm interested in his bank and he can send over my res...

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+1
Changed Second Major - Problem for Background Checks?

scarecrowbanker

this problem has been solved already thanks for the input wish you all find enjoyment in whatever youre doing...

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+2
Bank of America Email Format?

arpe44

Looking to email alumni from my school working at BOFAML and emails keep bouncing back. I looked at previous threads but none seemed to help. Any help with the email format? Thanks ...

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+1
Webinar: "My experience as an analyst at Goldman Sachs" -- 9pm ET, 3/4/19

AndyLouis

On Monday March 4th, 9pm ET, Wall Street Mentor Jay will be hosting a webinar entitled "My experience as an analyst at Goldman Sachs". Space is limited to the first 100 registrations. REGISTER HERE. Bio: Jay is a current student at London Business School. He spent 3 years at Goldman Sachs Asia w...

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+1
BAML Diversity Forum Invite

coldchicken

I got invited to a BAML diversity forum but there is a potential conflict for me. Does anyone know if there are first round interviews attached to their diversity programs? I know their general apps don't open until July 1st but I was wondering if diversity recruiting was earlier....

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+8
2018 /2019 Commercial/Corporate Banking Bonuses

betanowthanlater

I haven't seen too many posts on what bonuses and salaries are like nowadays since the 2017 thread. Curious to see if the pay bump at that associate-level affected Corp Bank or Comm Banking? Here are the numbers standing since the last update: Corporate Banking : A1: $85k + ~$45k A2: $90k + ~$55k ...

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+3
Analyst at 27 or head to B school?

DayMan247

I'll keep it short. I have been working in asset management for the last 4 years and recently earned admittance to a top 15 MBA program with the hopes of transitioning into banking. I was recently approached with a potential opportunity to become an analyst with a solid MM firm in town. I had been ...

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+2
Cover Letters (2020 SA)

Elias-Van Emmerick

Hey all, A good few applications for 2020 internships (Citi, PWP, few boutiques) don't require cover letters, and don't mention the need for them in the job posting, but there is a space to upload them in the application itself. Does HR actually read these letters, or are they unnecessary?...

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+1
International Female - 2020 SA chance?

LizJiang10

Hi guys! I'm an international female student (Asian) in a non-terget public U (UW-Madison, UMN, OSU...) I'd like to hear about my chance of getting a 2020 SA in a BB. Here is my profile...Thank you in advance! Major: Accounting & Mathematical statistics, CS minor GPA: 3.55 (I know its low and I'm t...

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+1
Aspiring biotech analyst (just moved to NYC)

pierpont1993

Hey WSO, I know this is a long shot, but I am looking for help breaking into the industry. In April 2017, I rejected my laboratory supervisor’s offer to fast-track into McGill University’s PhD program in Experimental Medicine. I began immunological research so that I could help alleviate the m...

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+1
Fisher Investments Guides

Anwar Congo

Does anyone have PDFs of the Fisher Investment Guides? I'm specifically looking for the guide for Consumer Discretionary but it would be great if we could have one forum where we can exchange them all....

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+1
Does some know reputation, pay and bonus at Houlihan Lokey M&A London?

3SCap

Does some know reputation, pay and bonus at Houlihan Lokey M&A London? Is it comparable to other elite boutiques in London? Pay for analyst I-III?...

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+6
Bank of America Merrill Lynch to drop Merrill Lynch name from Investment Bank

C-K.K.

WSJ just reported that BofA is planning to change the marketing name of its investment banking unit "Bank of America Merrill Lynch" to only Bank of America (Securities) and reduce the wealth management operations' name to Merrill. How will this affect the reputation of the bank and its ability to ...

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+1
Main Diff in job btw M&A and Big Four M&A Transaction Services

jcmiraculis

It may sound very simple but happy to listen your views re main diff between M&A at IB banks and transactions services BIG 4 or M&A Big 4. How Transaction services Big 4 do help to move to PE later on? ...

1
+2
Full time offers London: JPM vs Moelis vs Lazard

juan.longo97

Hey! I am deciding between three full time offers in London. Which one would you pick between Moelis and Lazard (both mixture of restructuring and M&A) and JP Morgan M&A. I am very interested in distressed and restructuring but not 100% sure yet. Does JPM have a significant brand name advantage over...

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+17
Houston Investment Banking 2019

Klaud45

Wanted to start a discussion and get some opinions on the current state of banks/boutiques across Oil and Gas/Energy, especially since DB recently closed down its Houston office. I've heard that, as far as the BBs go, Barclays and Citi are considered some of the best for O&G, over GS/MS. EBs like E...

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+1
Job offer with better comps from another boutique - Should I take the offer?

Marcus Nietzsche

Before everything else, we're not US based so in case some things I say are quite different from how you'd except, it's probably because of that. Going 1 year in a boutique IB. Another boutique gave me a job offer, same basic package but way better bonuses, there's a fee-sharing bonus - you get to ...

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+1
Moving from IB to different sector (from Korea to USA or Canada)

T.Stark

I've been working in Corporate finance (2.6 years) /Portfolio Management (1.6 years) for around 4 years in Korea. Although I am a US Citizen, my parents are Korean and I lived more than half of my life in Korea. Other half in Canada and USA respectively. I did some IPO investing/Portfolio manageme...

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+2
Is a Corporate Finance Certification from Columbia University worth it?

ISA2130953

I don't have a target school on my resume so I was wondering if this certification will help. The focus is on investments, valuation, stocks, etc. Do you think this is worth it?...

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+32
The Myth of the "Target School"

westsider

**Disclaimer: Semi-target Alumni** Now that training is finishing up at my bank (GS/MS), I wanted to share with WSO how radically different the analyst class make up is compared to the pre-conceived notion of it being filled with mostly target schools. Sure, once again Wharton put the most kids a...

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+1
Full time vs keep applying options

thenewchimp

Hey, is it better to accept my small IB full time position or keep applying for better firms with more experience/ skills and try and start in a better firm?...

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+1
Graduate scheme consulting Investment Banking

Logisticjoe

Was recently approached by a recruiter for a graduate scheme IB consulting position. I’m a recent grad, two finance internships, military service. Have been trying to break into banking/research for a few months now. Had anyone had experience with these roles? I know the pay is terrible and usuall...

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+1
Boutique IB Summer Analyst to BB Full-Time?

vtchimp

Hi, this is my first post here: I'm a junior studying Economics at a non-target school. Over the past summer, I was able to intern as a PE research analyst at an asset management firm ($40B+ AUM). I used that experience to land my next summer analyst internship at a regional boutique bank that typi...

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+1
OFF CYCLES

thenewchimp

Hey! How easy are off cycles to get into vs Summer Analyst programs vs applying to full times? THANK YOU!...

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+3
Looking for honest resume feedback/critique for 2020 SA?

fwadjwadj

Sophomore looking for ways to improve my resume before I start applying for 2020 SA, thank you in advance! https://imgur.com/5t29nPx...

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+1
Restructuring consulting vs banking

fitzmagic

Has anyone worked in both rx consulting and rx banking ? What're your opinions on both roles in terms of learning opportunities, networking, project management skills, life style, comp ? Currently deciding between top rx consulting firm think A&M, Alixpartners and a top 10 boutique rx banking firm, ...

1
+7
Average 1st year analyst all-in street comp?

Anonymous Monkey

Wanted to to get a poll to see what street comp is for vast majority of BB’s/MM. Obviously many EB’s have different comp structures but wanted to compare comp across various banks. Personally, received $85k base (standard) and $35k bonus at my respective bank for 1st year comp, is this normal or...

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+1
Imperial Mathematic and Finance or UCL Computational Finance

Oleksandr-Tsymbalov

Choosing between two university MSc Offers. Does anyone have opinion on these two courses? Which one do you think is better/ more targeted/ better at securing job after in Research Department at an Investment Bank....

1
+3
Top Private Credit vs IB for Developing Investor Skillset?

TreadFast23

Given the choice of entering a top buy-side credit fund doing direct lending and mezzanine at a shop like Golub, Ares, Crescent, or GSO vs entering a typical IB analyst program either BB or MM right out of school, what do you think best sets you up for a career as an investor if you know you want to...

1
+2
What jobs to transfer from to get into IB?

Jordan-Simkovic

I'm currently a student at a non-target school (CUNY Baruch). I'm doing my best to get a very high GPA and then transfer to a target school. Worst case scenario, if I do not get in to a target school, what other jobs could I take to be able to get into IB? Just to preface, my final goal is PE, but i...

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+3
A bunch of target / semi - target schools have decided to prevent banks from recruiting on campus before the fall

teaktable

With JPM/GS/MS having already agreed to do the same, if the other banks continue to recruit on a super accelerated timeline, they will have to recruit again in the fall after many students renege on their offers. thoughts? charactercharactercharactercharactercharactercharactercharactercharacterch...

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+2
Canadian Students: US Summer 2020 Internships, Visas

ibcad

Curious to know which American (specifically NY) investment banks still offer visas to Canadian citizens. I know some boutiques still do but BB's are much more reluctant. What's the word?...

12
+3
Enterprise Value Interview Questions for Banking

sandrosilva822

I recently had an interview in which I was asked the following questions. They all had to do with what happens to enterprise value when you issue new equity or debt. The questions were: If the current EV of a company is US$500mm, (equity value = US$300mm, net debt = US$200mm, other EV items assume...

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+1
Brown University's Placement in Investment Banking?

XI67895

Hello, What are Brown University's Reputation and Placement in Finance? I have read through threads and it seems that there are mixed feeling. Is it a "Target" School or a "Semi-Target" school? It's an Ivy so.... ...

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+1
ECM Interview at BB

C_M_R

Hello everyone, I have an interview in 2 weeks for an ECM Analyst Internship (6-month) at a BB in Paris, France. I've already been invited to M&A interviews and know the usual technical questions (which btw often represent 90% of the interview in France) but I don't know what to focus on or to add ...

1
+2
Stub valuation with JVs / associates

sa-jue

Hello, am looking at an example where a company has a number of JVs and associates and goal is to calculate the value of the stub. A company owns 80% of JVs worth 100m due to a recent deal with an investor, has 10m in net cash, the JVs are valued at 5m on the balance sheet, the current market cap ...

9
+1
Summer 2020 IBD Internships

IBDECONCAS12345

Hi Everyone. College: Boston University Major(s): Economics and Mathematics, International Relations (International Economics, Business, and Politics Track) Minor: Business Administration (Finance) Major GPA: 3.70 Overall GPA: 3.41 Summer 2019 Internship: 10 week internship in Transaction Advisory ...

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Summer Intern Housing In Toronto - Looking for Roommates and Woodsworth?

Banker in Progress

Does anyone know where the best place to stay in Toronto for interns. Im working at a bank close to bay street and would love suggestions. I saw the Woodsworth but since I don't know anyone I wondering if Ill get fun roommates. Anyone have any advice about where to live and experience at woodworth? ...

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+1
Investment Bankers in Toronto where you at?

Banker in Progress

Is there anyone who works in Toronto who is available to answer a few questions for me, seems like there are barely any members from Toronto on here. Please let me know. ...

1
+2
JPM Pencils Down Policy

catmann

Happy Friday All, I will be matriculating this fall at an M7 or Top 10 MBA program and will be looking to move from Consulting to I banking. The protected weekends and work-life balance policies aren't a complete decision maker for me, but as this will be a long term career move, I'm interested in...

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+1
High School Student Advice

James-Brickman

Hello, I am currently a high school sophomore and am highly motivated to pursue a career in finance. I have been succeeding in school and am in a solid position to attend a target university as an undergrad. It would extremely helpful if someone already positioned the industry could provide some adv...

4
+1
Foot in the door.

jonathantbarrett

Hello all, I am interested in making the switch to investment banking coming from a background in financial planning/advising. In preparation for this potential move I have been researching online certifications such as IBP, CIBA, and FMVA. I am just looking for a foot in the door and would like...

1
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+1
At this point in the year, what's the best summer opportunity still available?

cicada

I had originally enrolled to study abroad and study subjects completely unrelated to finance, but I have been advised that wasting my sophomore summer abroad will be a bad idea when I'm looking for a junior summer internship next fall. For context, I have a >3.8 GPA majoring in economics at a priva...

1
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+10
Banks sponsoring visas (undergrad)

sj13

Which banks are still sponsoring H1B visas? I haven't seen an updated post about this wrt 2019 SA recruiting so would appreciate any insight. ...

79
+1
Need todelete

mickejohn09

deletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedelete...

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+1
Goldman Sachs Private Real Estate Group - Advice

Vito_Genovese

Burner account here. I have spoken to someone at GS regarding an open analyst position in the IMD, GSAM Private Real Estate Group essentially doing business development and investor relation duties. Job description didn't really show much analytical duties, it was a lot of creating marketing materi...

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+1
Interviews for Industrial Coverage Groups?

Andrew12345

Hey guys. I'm a sophomore non-target getting ready for 2020 recruiting. I decided a couple of months that I am most interested in working in industrials. I like the longevity of their business models and the vital role industrial companies play in our economy. I am hoping to get on some calls soon w...

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+1
Are certain non-engineering FAANG or F500 offers as compelling as i-banking?

Anonymous Monkey

This layman's most prestigious internship list is interesting (and slightly odd it's missing the likes of McKinsey, Bain and Exxon?). I've noticed a lot of friends at my top target are mulling both investment banking and FAANG internships, and some upperclassmen pivoted to pursuing FAANG after inter...

1
+2
Duties of a first-year analyst?

Neilman

Can anyone shed light on typical day to day functions of a first-year analyst? What exactly are you doing when you're staffed on a live deal? When you're not on a live deal? What is the most challenging aspect of the job?...

1
+1
Unprofessional MD...but I still got an offer...what to do?

YoungKapitalist

Hi everyone, I'm a current senior at a (just barely) semi-target. I recently interviewed with a MM bank for a part-time internship in a group focusing on a region I'm interested in. After one interview with an MD, I received an offer. The issue is that this MD was by far the most unprofessional, di...

3
+3
Best groups in BMO NY

SummerExperience

Didn't get any responses, so I will try posting it again... I am planning to join BMO NY as a summer associate. It is a generalist offer. However, would anyone comment on the best groups in terms of learning, career growth and deal flow? Thank you very much!...

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+1
Energy IB MBA Schools

dywm

Hello, How would you balance the network and energy expertise McCombs/Jones has with the slight, and sometimes big, ranking/prestige/learning difference with schools like Darden, Fuqua, Johnson(Cornell), H/S/W/B/C if your ultimate goal is energy IB? I know McCombs and Jones are solid schools that ...

3
+1
When to speak on conference call - Investment Banking Off-Cycle (ECM Group)

carrasboy

Dear all, I started as an ECM off-cycle analyst in January at a top-European IB. I have already done many slides, worked on equity story and valuation topics and I assist VPs on 80% of client meetings (IPOs, equity PP, equity-linked, capital raise etc). However, many conference calls take place on...

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+42
Ask Fake DickFuld January 2016

DickFuld

Yes, you read that right. AndyLouis asked me to when I was going to do an AMA a year and a half ago or so in some random thread. I first researched what "AMA" meant and then realized it was a great opportunity. I had not really been in the DickFuld character yet and I truly never thought anyone...

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+2
Why are we on earth?

idkwhyimadethisaccount

Serious answers only. Just curious what you guys think the reason that we are here on this earth really is....

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