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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
Morgan Stanley Consumer Retail Group (CRG) in London thoughts?

Fllick

Have heard from a friend who worked in MS some years back that it had a rough reputation. Wondering how it is now? Does anyone know of the exits? (couldn't seem to find these on Linkedin) Very interested in this sector but would like to get a lay of the land.. Cheers for any answers...

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Moelis & Co. London?

benjamin.vanderbilt96

In NYC and LA, Moelis is considered really top notch and on par with GS/MS for exit opps towards hedge funds and the buy side. How is the situation in London? Do new analysts have the same exit opps as analysts at GS/MS/JP and better than Lazard/Rothschild or is the bank subpar? What are the classic...

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2019 MS Early Insight African American/URM Event

MatronlyTub672

Has anyone heard back about the 2019 MS early insight program for minorities? The event is next Thursday 3/7 but I haven't heard anything....

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Capital One Healthcare Cash Flow Underwriting & Portfolio Management Analyst Interview - Any advice?

Persistent

Hi WSO, I recently received a first-round phone interview for Capital One's "Healthcare Cash Flow Underwriting & Portfolio Management" Analyst position. Since this is a rather lengthy title, I have attached a summary of the role taken from their website: "As an Analyst for the Healthcare Team, yo...

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No return offer from BB - what to do next?

take8132

Hi Monkeys, I'm an international student currently based in New York. I spent the summer in HK working as an IBD SA with a BB but didn't get a return offer, and then wasted a few months doing interviews with PE shops back and forth yet failed to land anything. Now I'm months away from graduation an...

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List all Interviews with BB on LinkedIn Profile?

Blazer1989

Hey Guys, I had several interviews already and wanted to ask whether it is ok to list all the interviews I had in my LinkedIn Profile?...

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How to "quantify" IB Resume Bullets?

John-Jacobs1

The WSO and M&I templates do a good job of the format of a resume but not really the content of the bullets. I have descriptive bullets ie "Prepared reports in XYZ industry for clients" and "Involved in CIM, and DD process" but not really sure how to incorporate numbers in my IB bullets. For other b...

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How to have effective prep sessions for interviews?

Andrew12345

Let me give you a little background first. I am a sophomore at a non-target. I worked at a regional IB last summer and will return to the same one again this summer. I am getting ready for the 2020 recruiting cycle for junior summer. Previously to prepare for interviews, I was just sort of going thr...

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+2
JP Morgan Group Placement

TJWFfan

Past posts on this topic seem outdated. About to go through JPMorgan investment banking placement over the next couple of weeks. I'm interested in PE, which groups will give me the best technical experience that also have enjoyable people to work with? Also what questions do groups asks during plac...

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Bonus carnage at the WF Corral

InfoDominatrix

https://dealbreaker.com/2019/03/bonus-watch-19-wells-fargo-carnage Saw this about an hour ago. Shared it with a co-worker whose wife works at WF. He said that she just called and the mood over there is not remotely good. And when you take into account those higher-ups that actually received high...

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+4
Is new Vault top 25 investment bank list accurate?

Humble1stYear

1. Goldman Sachs & Co. 2. Morgan Stanley 3. J.P. Morgan 4. Evercore 5. Lazard 6. Centerview Partners 7. Moelis & Company 8. Credit Suisse 9. Bank of America Corp. 10. Barclays Investment Bank (Americas) 11. Perella Weinberg Partners 12. Greenhill & Co., Inc. 13. PJT Partners 14. Citi Institutional C...

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+2
Sourcing a deal as an intern? (Ridiculous I know)

Kitchkade

I know this title is absolutely ridiculous but hear me out. A mentor of mine who helped me through recruitment (Senior MD in the PE/AM arm of an EB) called me this morning. He informed me a dear friend of his was looking to do a deal that my BB group would regularly do. It’s our specific industry...

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+3
STRH Investment Banking Sophomore Summer Analyst Position

UgEcon

Hey guys, I was wondering if anybody had any insight or experiences with the STRH sophomore investment banking position. I recently received a first round interview and have no idea what to expect out of the interview or position. Thanks...

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How to break into investment banking for non experienced

Kay3dly

hi, I'm a recent graduate who did not get a chance to do IB internships in college. currently working as a revenue analyst for an insurance company. my goal is to be in investment banking but my networking and lack of experience aren't helping. I was thinking of doing this job while I study for the ...

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+1
CapIQ Search question

John-Jacobs1

Wanted to double check I'm doing this right. For CapIQ to search for boutique IBs, it's Screener > Companies (Beta) > pick location > add criteria business description "investment bank" and then hit run?...

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+1
HSBC GBM CRM NYC

thekingkong

Hello fellow monkeys; Friend accepted an NYC SA offer at HSBC for their CRM role, which falls under the Global IB division. Was wondering if anyone has any thoughts on hours of coverage role compare to traditional product groups @ HSBC as well as what are some of the best industry groups....

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Media Industry Good Books/Guides?

LeveragedBlackouts

Hi guys, my interest lies within the Media & Telecommunications industries and I've been trying to find good reads/study material for both. In terms of Telecommunications, I know the Fisher book is a guide resource but does anyone have any other recommendations for Telecom and some good material rel...

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+1
How to proceed after meeting the CEO? (informal interview).

TomFord

Hi, I had the opportunity to meet with the CEO of a small IB boutique. The place seemed great with a relaxed and yet hardworking culture. The conversation went very well, and the technicals as well. We ended up talking about interests such as aviation and cooking in the end. I sent a thank you not...

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FIG Analyst Performance Trust Capital Partners Chicago

ryan.hildman

Any insight into Performance Trust Capital Partners Chicago office would be great, this is a FIG analyst position. Any details for comp, exit opps, deal growth, or additional thoughts on the firm would be great. ...

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+5
Leave 100k+ bonus for Immediate PE Offer?

knightbanker

Monkeys, In a position where I was able to swing a solid PE offer at a fund that I like with solid a work life balance and career progression outlook within the firm. The issue is they want me to start before I get paid my 3rd year analyst bonus (expecting ~$120k+). They want me to start by the en...

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earnings announcement, returns and after-hours trading

monsmatglad

Hi. I am currently studying earnings announcement and the return on stocks. I am aware that many companies postpone their announcements till after the exchanges have officially closed. However, I know that after-hours-trading might occur as late as 8 pm. How late can the earnings announcements gener...

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+2
Fortune 100 Finance Rotation vs. No-Name Boutique IB

frenchbulldog123

I’m a senior at a non-target. I have two offers - one at a F100 doing a corporate finance rotation and the other as an analyst at a local boutique investment bank doing lower middle market M&A deals (sub-20mm in size). F100 Role: * Relocation to tier one city * Great benefits * 3-year progr...

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Failed a course after my application - does that affect my offer?

chloezqj

Hi all, I am a junior and have an offer from a major IB. When I applied for the role, I had a 3.7 gpa and had never failed a course. However, I did fail a course last semester and thus my gpa dropped to 3.5. The professor was terribly boring, I was busy for other upper-level courses and interviewin...

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SoTP approach with holding companies (negative cash-flows)

sim.a

Hi! I'm currently working on the valuation of a group that own 2 different businesses. In a nutshell it’s an holding company (A) owning 2 holding companies (B & C) – B & C being involved in 2 different industries (they each have a number of subsidiaries). I have the BP for each company of the ...

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Outsourced M&A Research and Support/CIM Drafting

barrylincoln

Hey all, I was approached by a friend from a boutique (read "small") M&A shop asking about how they might outsource the drafting of a CIM. They appear to be reasonably busy but don't want to hire. Are there any reputable businesses that will draft a CIM for a fee? Former bankers? Thoughts and sug...

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Accelerated BB/EB FT Recruiting London

dcf.lbo.

Hi! I have posted with a new account for anonymity reasons. I was just wondering whether anybody has any inside into whether BBs/EBs in London have accelerated FT recruiting and how to participate in the process. I will be interning at a US BB during the summer but have become increasingly wary ab...

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Hirevue for Experienced Hire??? IBD/M&A

LDNFinance

This one sort of threw me off guard. 2+ years experience going for a non-entry level position in M&A. Was expecting a 1st round face to face, however, the Director I've been referred by informed me that HR have replaced 1st rounds (even for experienced hires) with HireVue video interview. They'v...

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100

El Rey del Dios

The headline index of manufacturing activity hit a four-month low of 52.0 in February. A score of below 50 indicates recession, while above 50 indicates growth. The PMI is currently at its second-lowest level since July 2016 – the month following the EU referendum. Although stronger than French a...

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DCF Growth rate on Revenue

teachmepls0101

I'm currently doing a DCF analysis, but I'm stuck on the future growth rate part of the analysis. I was told to use the industry growth rate as the growth rate for the company I'm doing the analysis for. Also, that I should be incorporating inflation rate as well? My industry is Clothing/Apparel. Wh...

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List of technology-focused boutique IBanks/Advisors?

43563458352345145254624

Hi all, Where can I find a list of boutique investment banks/advisors that serve or focus on the Technology sector or any combination of the TMT/Internet/Software subsectors? So far I've really only found Marlin and Associates. I have not been able to find a list like I have been able to for the o...

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2019 PJT Partners Undergraduate Women’s Program

SadMonkey98

Has anyone heard back yet???????? They say they will send decisions by March 4. Good luck everyone! ...

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+2
Should I transfer colleges again?

LeonRoz

I attend NYU, not Stern though, having transferred from an academically excellent nontarget (think JHU, Carleton, Swarthmore). I love being an NYU student. Living in the city and attending NYU has given me long-awaited happiness and extraordinary access to finance professionals and career resource...

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+2
2019 FT Roommate Thread

bry_d

While it may prove too early to lock down housing, finding roommates couldn't be early enough. I'm a respectful, clean and considerate guy looking for solid roommates. Basic information below: City: Chicago Preferred Neighborhood: River North, South Loop, West Loop, pretty much open to anywhere in...

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What are some good starting VC firms in Orange County/LA area?

ISA2130953

I am trying to get into VC but I wanted to know of some good firms to start networking/looking for internships with. If you have any advice at all please let me know! Thanks...

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London Stock Exchange Group - Business Graduate Programme NEW YORK

Symfuhny

Hey guys, Has anyone heard back from LSEG in regards to their Business Graduate Programme in NY? I received a call over a month ago from somebody at the firm asking if I was also interested in locations near where I live and said I should hear back the next week about NY, but haven't heard a thing ...

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+3
MM Investment Banking Outlook

Bill Stern @ Axe Cap

I was recently in a meeting with some senior regional coverage bankers and it seems like BB has soften up their IB fees per deal and size. They are looking to tackle the MM area by leveraging its balance sheet. How big of a threat is that to EB and other MM boutique?...

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The Raine Group - culture, reputation and comp information

theparadox

Has anyone heard of them? Any insight on their culture, reputation, and comp would be appreciated. ...

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ECM Folks, What's the answer to this question?

SabalSabal

I realise this may be very simplistic to you but here we go: Assume I want to raise $100m in an IPO. The underwriter's fees are 2%. Which scenario would apply? 1). I raise 102 million to cover fees in the actual IPO. 2). I raise 100 million but actually get 98 million in my infusion of capital. ...

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Recommended book on M&A technicals and tactics?

biggity

What book would you recommend that covers sell-side M&A processes? I'm interested in process, technical details, negotiation tactics, and strategies / tricks of the trade, etc. I've run deals before, but am curious what everyone thinks are best books covering this. There are certainly tons of books...

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+5
Intern Overtime

ResumeAttached

I'll be interning at a BB this summer as a summer associate and noticed my contract says we're eligible for overtime beyond 40 hours a week. Just wondering if banks actually pay overtime to interns? Seems like you would make a bunch over the summer....

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+31
Bulge Bracket and Elite Boutique Tiers

Premia

Hey everyone, feel like we haven't had a good ol' argument/friendly discussion in a while. What would you say is the current tier list of investment banks in 2016 based on overall brand strength? If you have real balls, rank them with no ties (1a, 1b). Ranking the Bulge Bracket and Elite Boutique B...

362
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Goldman Sachs Asset Management Private Credit Interview

fynance18

Hey All -- Just landed a phone interview for GSAM's Private Credit Group (credit alternatives). Anyone have any experience or insights on the group or the interview process? I'm from a slightly non-traditional background (not LevFin or Corporate IBanking) so any tips for prepping technicals for a pr...

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What banks do recruitment sophomore spring for junior year internship?

Jordan-Taylor1

I'm a sophomore at a target school, but I feel like I don't know when applications are due. I know that recruitment starts sophomore spring, but I don't know how to find all the applications because the university doesn't want recruitment this semester....

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Please be absolutely honest: Do you try to steer conversations to that point where the other person asks where do you work?

Blazer1989

I can imagine that there is some feeling of pride connected to: I work at GS/MS/JP/Moelis/Jefferies/Houlihan...

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A1 Lateral: Guggenheim or Euro BB? (CS/Barclays)

helpmedecidepls

What's up everyone, I'm a frequent lurker here on WSO, and after some serious networking grind I was able to get two offers to start as an Analyst 1 after this summer. I graduate from UG this spring. I am not someone who plans to pursue PE and I see myself staying in banking to the VP level at min...

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+2
Toronto - Boutique Investment Banking Compensation

whatsapitchbook

Hello, I'm interested in hearing what people have to say about the compensation (base and bonus) offered to summer analysts, full time analysts, and associates at boutique investment banks in Toronto (in $CAD). I've done some searching on the forum and through Google and have found very little d...

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How to tell a deal in an interview that the team has done?

sunnysi

So I am going to have an investment banking summer analyst interview with a bank in HK and as part of the preparation, I researched on the bank's recent deal. Since the deal was done by that bank, they know the deal better than I do. In this regard, how should I walk them through the deal? (It's a M...

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How common is it for firms to restructure governments? Is there one firm that gets most of these mandates?

Dizzybird

Hey everybody, I know PJT was providing restructuring services for Greece. Are there any firms in particular that specialize in restructuring on governments, particularly in developing nations? How common are such mandates? ...

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