Silver BananaTopicReplies
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Why do I subtract the g from the Wacc in the terminal value calculation?Hello monkeys Just curious on the explanation of why do I, in the perpetual growth calculation, subtract the g from the wacc to arrive at the tv (as in (FCFn(1+g))/(**r-g**)) Cheers!...
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Why Can't Interviewers Call on Time?I have had 3 phone interviews this past week: 1 with a bulge bracket, 1 with a boutique, and 1 with a hedge fund/prop trading firm. The bulge bracket was 35 minutes late, the boutique was 20 minutes late, and the prop trading firm was 15 minutes late. Every single time I have received no email telli...
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Salary/Bonuses for Canadian BoutiquesHey guys, Have been looking through WSO for quite some time on this topic but the consensus does seem at little scattered when it comes to pay at boutiques. Just wondering if anyone has any information regarding salary/bonuses at boutiques in Canada, say for a boutique doing deals in the $10M - $30...
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Background Check / Drug Testing ProcessBased on your experience, how does the background check process work for incoming IB summer analysts? When does it usually start (spring or late fall) and once it starts, does drug testing occur simultaneously or later toward the start date? Thanks...
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Telos AdvisorsHi, I was looking around and saw a boutique bank in California called Telos Advisors, with offices in Santa Monica and San Francisco. Based on their website, they focus on the tech industry, but I haven't been able to find much information about them. Anyone know anything more about them?...
1
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3 statement modeling test - can anyone share an example model please? Hi Everyone! I have a final round interview coming up at a boutique IB where I will have to complete a 4-hour modeling test. I was told that it's going to be three statement modeling test with DCF and possibly WACC calculations. Can anyone share an example of the model they had to complete or us...
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Deloitte Corporate Finance InternHow valuable is an internship opportunity with Deloitte in the corporate finance department if the final aim is to get into IB at a BB in the future?...
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TD Bank - Review - Corporate Banking10/10! Wonderful employer that truly cares about employees. Work-life balance, nice coworkers, and inclusive atmosphere that encourages learning. . Professional development opportunities limited to Canada and the US. Old technology and lots of bureaucracy. ...
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How Helpful is an Employee Referral?I understand having a referral is helpful towards receiving an interview. Does anyone have a statistic based on the percentage of applicants that have an employee referral and therefore receive an interview? Does a referral guarantee an interview? I know the higher the position of the employee, the ...
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SA: JPM S&T vs. UBS IB Need a little bit of advice in terms of which offer to take; both are in NY. I am generally more invested in IB and that type of work but I feel like I'm crazy for turning down the JPM brand, connects, etc. Also, I'm a junior so this would hopefully be where I am FT for the next 2 years. ...
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Houlihan Lokey - Review - Investment BankingGreat culture. Senior leadership definitely wants to develop its junior bankers. Good deal flow and opportunity. Long hours. Lots of strong performers in the associate level. Some VPs are less supportive of growth than others....
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Keep failing IB interviews. I'm going nutsMy background: Semi target undergrad 3.5 GPA. No-name boutique IB internship B4 Audit/TS for 2 years Doing a bit of lateral recruitment plus campus recruitment just to cast my net wide 3 BB interviews so far. Rejected by one and the other two are not looking good. I feel that if they're impressed...
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IB in Europe?Financial News London just published [an article](https://www.fnlondon.com/articles/europe-is-a-lousy-place-for-investment-banking-20181022) outlining the demise of the Investment Banking industry in Europe due to systemic issues with fees, competition, and Brexit. I am curious what the viewpoint on...
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Wells Fargo and Company - Interview - OtherOnce you established a basic understanding of the technicals, they challenged me to go further with questions about accretion and dilution in M&A deals. Another difficult question/set of questions was that they asked weird specifics about certain resume activities and asking how each one relates to ...
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2019 HK IBD Summer Analyst position (Interview Rounds, Open Internship Positions, etc)Hi Guys, I'm just curious which companies are open for IB summer analyst position for 2019. I already applied to JPM and Morgan Stanley for 2019 Summer Analyst position and did my Hirevue for MS, and soon be doing JPM as well. Currently opened for HK IBD 2019 Summer analyst position: JPM (got 1...
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Exactly How To Take Santege Garcinia Diet?Santege Garcinia Diet capsules have to be consumed with warm water. See to it you are not taking this pills with hot or chilly water. Take two tablets in a whole day. Either eat in the early morning and also one at lunch break. Or both after your lunch. It is not a good idea to take this after your...
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Commerzbank AG - Review - Mergers and AcquisitionsHours are good and the ppl are quite nice to work with. One of the best I have seen at least. Peers are close.. The comps are way below the industry average when you take the bonus into account. However, it is fair with hours you do....
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IBD to PWMI just recently wrapped up my first year of investment banking, and I have known for a while that the job really isn't for me. I have no interest in doing the traditional PE/HF exit. I have always been interested in PWM or Private banking but never pulled the trigger on just because of the lack of i...
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UniCredit - Review - Quantitative Researchthere following positive points: nice atomasphere; greate colleagues; easy for internal transition; . the most negative point would be the salary. there arent any yearly salary adjusment as any other big banks....
DBS Group - Interview - Investment BankingInterview questions were fairly average with the walk-me-through-your CV and what-do-you-know-about-us questions. More emphasis was placed on the case-study presentation we were given to prepare. Had received the case-study question and given 24hours to prepare and submit it the previous week. Whe...
CIBC Canadian Imperial Bank of Commerce - Review - Debt Capital MarketsGood and friendly team, overall made for an enjoyable experience despite usual long hours and late nights. No complaints about culture here, but the burnout is real. As mentioned like any banking job, it's easy to get overwhelmed quickly. Sometimes feels like you aren't being compensated enough if y...
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Top Restructuring Groups on Wall StreetWas wondering about the tiers of restructuring groups. I know PJT and Lazard are top but what about the others? Thanks!...
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Houlihan Lokey - Interview - Investment BankingMost difficult was what are the different things you could do in an LBO to change the IRR. We walked through all of the potential things that could be done, but was asked to continue giving more answers even when everything possible seemed to have been said. I think the purpose was to see how you re...
IndustryPro - Review - Mergers and AcquisitionsAccess to high level work early in my career. Had the ability to be on calls with company executives and private equity firms. Constant communication with leadership. Great leadership program.. Problems similar to any boutique. Less technical work than at an MM or BB bank. Future at company is an un...
Thomas Weisel Partners Stifel Financial - Review - Investment BankingBest things about working here involve access to leadership, diverse/rotational program, KBW is awesome. Lot of work, cubicles, don't get to enjoy the office itself, responsibility for interns is lower than normal...
InterOcean Advisors - Interview - Mergers and AcquisitionsTell me about yourself. Self-explanatory, had a pretty good and logical path to how I arrived to applying for this internship. Resume-specific questions. Know everything on your resume really well. How do you look at industries/companies? From macro to micro level, what drives competition, what make...
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Top MM IBs in Chicago?Ones that come to mind include Lincoln International, William Blair, and Robert Baird. Any other insights?...
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Morgan Stanley - Interview - Fixed IncomeFor me the most difficult questions are behavioral. The phone interview was completely about my resume and interest in finance. Because most of my background was not in finance there honestly wasn't a lot to go over that was relevant or that they were interested in. However, there were the typical l...
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Goldman Sachs SSG (Special Situations Group)SSG seems like the most elite but opaque group at GS. Does anyone have any information about it? I worked at a top BB IBD last summer and am wondering if I have a shot here. How do they recruit? Somebody told me they only take 1-2 kids a year and are even more selective than GS TMT or Blackstone PE...
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Intrepid Investment Bankers - Interview - Mergers and AcquisitionsImagine two companies in these two different industries, list all the differences you would expect in their respective balance sheets and income statements. How would your parents describe you relative to your siblings? Imagine that you are working with a company, and the client-side team is rathe...
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What are some little known or under-utilized time savers you guys use?Instead of just "learn excel shortcuts", what saves time that people might not normally think about? An example: outlook email templates that allow you to pull up and send a certain email, takes ...
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EY TAS vs. Houlihan Lokey FASI am posting this on behalf of my bf. He has also left a thread. Hoping to get more responses this way. He has offers from EY TAS and HLHZ FAS for internships this upcoming summer, which will hopefully lead to full-time. The question is, which one to go with? Facts: - HLHZ pay is 5k more - The tea...
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Barc LA vs Jeff New York (Full Time Analyst)Have an offer for Barc LA in gaming/lodging group and an offer for Jefferies in NY. Not sure which to take. jefferies would start generalist. Anyone have thoughts on exit opps? Would gaming/lodging pigeon hole me into real estate? ...
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Debt Route Options from Commercial Banking1.5 year analyst at a BB middle market commercial bank. Our group does fairly large, complex deals that touch the debt markets. So far, I enjoy debt financing, however realizing now is the time to get out of commercial banking if I want to be on buy-side long-term. In short, what is the next best ...
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question about GS quants who come from engineering backgoundNot in financial career and have a couple noob questions. do quants who come from Phd Engineering and work at GS progress to MD at the same rate as post-MBAs (considering their skill-set is mostly engineering so i assume their work involves doing algorithmic math to make profit for the bank, where...
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KPMG - Review - Investment Banking-good work balance -great resources -MDs are pretty helpful -good benefits -good deal flow -committed to employees . -average pay -very bureaucratic -lots of if big egos -can be way to corporate -too many polices and procedures ...
Cowen Group - Review - N/AGood learning opportunities Small, lean teams so responsibilities often surpass that of a first year role. Hours are long Less guidance / structure than a BB or elite boutique Less focus on understanding and more on pumping out work...
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Best Teams in UBS (London)Hi all, What are the best teams in UBS in London in terms of culture, lifestyle and deal flow? Many thanks...
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they say networking networking networking, but how? especially in EuropeHey, to start this off, I´m not some whiny guy who is too lazy or too shy to network or meet people. I´m just a bit confused since I registered on this board 2 weeks ago. Is it possible that 90% of the threads here are full off American students (yes I know “wallstreetoasis” hehehe)? I don...
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Goldman Sachs - Review - OperationsSuper Smart Colleagues, 3 Weeks PTO + 9 paid sick days starting day 1 as an analyst, Tremendous Access to Senior Leadership, Very Reasonable work/life balance but varies by team, Opportunity to grow and get involved in auxillary projects. Can get pigeon-holed into being an OPS person, Some weeks see...
Morgan Stanley - Review - N/AHours are good from 9 to 6. Pay is okay. A lot of networking events. Great working environment and people are nice. . Did not learn much during the internship experience and every day was pretty much the same. Sometimes there was little work to do. ...
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Piper Jaffray: Sweatier Than Ever in 2018Takeaway message: Piper Jaffray (PJC) is a massive sweatshop. Probably one of the worst MMs for work/life balance from what I’ve seen and heard. Imperial Capital is the only other MM bank I’ve heard that is worse, and I guess Lincoln now that somebody died. Background: Created this new acco...
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JP Morgan Securities - Review - Investment BankingBank has a great brand name and ton of smart people. There's focusing on protecting Saturdays and it's somewhat working. Many old school bankers at the bank who don't give a shit about junior bankers and the Protect Saturdays policy is not really practised...
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Craziest M&A Deals You'd Want to See HappenWhat is the largest or craziest M&A deal that you'd want to see happen in the near future and why? Doesn't necessarily have to be realistic....
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BNP Paribas - Review - Strategy and OperationsVery laid back management and great open door policy. Management was very invested in the development of the younger employees. They also stressed mobility within the operations department.. BNPP is a large European bank trying to make it in America.n They have great brand recognition in Europe but ...
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27 Year Old 1st Year Analyst At Elite Boutique - Shot At PE or B-School?I asked the question below in the PE forum, posting here for higher visibility / volume of perspective. ------ Hi all, I have a unique opportunity / dilemma after a roller coaster of a career. Summary - I have an offer at an Elite Boutique (Evercore, Moelis, PJT) for a lateral analyst role but wi...
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Can an offer be rescinded for multiple dropped classes?I have already accepted an offer at a top IB and have slacked off heavily this semester. I did poorly on a few tests and have had to drop 3 classes. I was wondering if this could result in a rescinded offer when HR sees the transcripts. Thanks for the help....
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Buying Asset with Equity Impact on 3 StatementsBought Asset for $100 w/ $50 debt, $50 equity at 5x EBITDA. S-L Depreciation, 10% interest rate, 40% Tax rate. What is the impact to the 3 statements at T=1 (after 1 yr)?...
1
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London vs SingaporeCouldn't find any recent threads on this, but apologies if it's been asked before. For someone just starting out a career in IB, how do London and Singapore compare? Thinking mostly in terms of career progression, exit opps, exposure, deal flow etc, but would also be interested in pay/culture/whate...
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Disabilities on ApplicationHi everyone, I'm an undergrad student and I have major depression. On every application, they ask if you have any disabilities and major depression is listed as one of them. Should I disclose this on applications, or should I not include this information? I'm assuming it will only hurt my chances i...
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Black rock interview I am having an interview, what will be asked in the Financial Advisory interview for internship with Blackrock?...
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Berenberg?Anyone have any experience with Berenberg in the US? I can't really find anything on them and they seem to have a solid rotational program? ...
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Leerink Partners - Interview - Investment BankingNothing unexpected, everything they asked was very easy and could be easily prepared for. I would say they were looking for hard workers for the internship and that was their only criteria. A lot of fit based questions and some behavorial questions. The technical questions were not difficult and wer...
Citigroup - Review - Investment BankingThe juniors are great but the culture yet is pretty fratty. The brand name is amazing and has gotten me great opportunities . Bad MDs have ruined Citi. They make ridiculous requests and no one is happy working 100 hours a week. ...
Piper Jaffray - Interview - Investment BankingJust a basic how would you value x company. I had personally not been targeting IB until recently so my knowledge was nowhere near where it should have been for the interview process. Other than that just standard behavioral questions and the guy ranting about how every other bank he's worked for wa...
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BAML LevFin vs. MS/GS generalistHow would exit opps and experience at BAML LevFin - NY compare to a generalist offer at MS/GS NY? How does BAML place compared to industry groups at these two banks? Is it worth the gamble to take the generalist offer? Thanks!...
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Deutsche Bank - Review - Leveraged FinanceGood people; not overly cutthroat; significant effort from senior people to help analyst quality of life and find exit opportunities; as an analyst working directly with VP's MDs on top level commitments and deals. egregiously understaffed with truly brutal hours operating at literal breakneck flow ...
Credit Suisse - Interview - Investment BankingHow do you define success? Three strengths and weaknesses about yourself Which valuation method usually gives the highest multiple? Why credit suisse? Why investment banking? Tell me about a time you showed teamwork? Tell me about a time you showed leadership? How does Brexit affect investment banks...
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Citi SF vs MBB LAHi everyone, I'm currently a senior in college (liberal arts major) and deciding between two FT offers from Citi in SF and MBB in LA. I'm interested in VC or PE in the future, as well as business school at some point. I'm wondering which role would give me the best skill set, training/preparatory e...
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Best Healthcare Investment Banks by VerticalsWhich investment banks are strongest in services/ IT? Med devices and med tech? Less interested in pharma I know GS and Centerview do a lot of pharma, Morgan Stanley has strong Services, Gugg great Med Devices what about firms like JP/ BAML/ Evercore/ Laz/ PJT/ Citi/ Barclays/ Guggenheim/ Credit su...
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IB: Windows Version and MS Office Version?To the bankers out there, which version of windows and which version of MS Office are you currently using at the office? I'm getting ready to hit the books with the modeling and I want to make sure I'm practicing on the right stuff. Thanks....
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Oppenheimer 2019 FT Analyst Superday Invites/ResultsHi All, Looking to keep this thread open regarding hearbacks from OpCo's previous and upcoming superdays. Currently waiting on hearback from the one ~2 weeks ago. Anyone else involved?...
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UBS AG - Interview - GeneralistThe questions were the typical walk me through your resume, why this bank, why finance. They also had me talk about my past internship at a small asset management firm. I would have to say the most difficult questions they asked were the technicals, such as the effects of selling an asset at a lost ...
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1 market, 1 slideHi guys, Imagine you have 1 slide and you have to present a market (how fast this market is growing and so on), how would you organise your slide? Many thanks :)...
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Deutsche Bank New CEO, a BB dying?Deustche Bank just named a new CEO, before John Cryan finished his 5 year restructuring plan. Christian Sewing was named as the new CEO by the chairman of the board Paul Achleitner. Sewing comes from the retail arm of the bank, the opposite of Cryan's background. Do you see Deutsche leaving its CI...
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CIBC Canadian Imperial Bank of Commerce - Review - Mergers and AcquisitionsGreat team at the organization and the responsibilities provided to analysts on various deals continue to increase. . Work life balance is difficult, however, that's what we signed up for. Live as close to the office as possible. ...
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Do HRs really review every candidate's hirevue?I had several hirevue interviews but doubted that if HR actually reviews every single one. Do they tend to only review the candidate from target school given limited spots?...
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GPA Uncovered GradesI have a 3.21 GPA on my transcript because my school did covered grades first semester freshmen year. If I factor in those grades, my GPA is a 3.25. I do have a piece of paper that shows my freshmen year uncovered grades so I could back up the 3.25. Thoughts? ...
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JP Morgan Securities - Review - Investment BankingGood pay and challenging working enviroment . Didn't like my boss ...
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What brands clothes to wear for woman in investment bank?What fashion brands for women in investment bank to wear? I only know Brooksbrothers, anything else?...
3
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LSE Diploma in Accounting and Finance: useful for someone without IB experience? I graduated in July 2017 with a First in Chemistry with my only relevant work experience being 3 weeks spent at a hedge fund. I didn't manage to get a job during my final year and since then I've been job hunting. I've also been accepted onto the Diploma in Accounting and Finance course offered by L...
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IB Management Program vs IB Program -- Morgan StanleyCan someone explain to me the difference between the Morgan Stanley 2019 IB full time program and the MS 2019 IB Management full time program?...
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Signal Hill Capital Group - Interview - N/AWas asked how to calculate the Total Addressable Market (TAM) of a certain industry - detailing commercial and consumer markets. Also asked what is the maximum amount of change you must have so that you can't make change for a dollar. How would you value a horse? How do you value a pre revenue com...
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I can't decide what credit card to get - Please HelpHi, I'm a student. I'm trying to find a credit card that offers the best deals. I need it for my personal needs. I found some suggestions on the site below. But I'm undecided. I need your help. https://creditcardsforbusiness.info/the-4-best-student-credit-cards-of-2018/...
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Barclays Capital - Review - Investment Bankinggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggg. gggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggggg...
Brown Gibbons Lang and Company - Review - Investment BankingThe Dinner is compensated. That's about the only pro. Decent deal experience. Need to hire more analysts. . Very long hours. Senior Management doesn't have an open door policy and isn't well coordinated with each other in terms of work being assigned....
Brown Gibbons Lang and Company - Review - Investment BankingThe Dinner is compensated. That's about the only pro. Decent deal experience. Need to hire more analysts.. Very long hours. Senior Management doesn't have an open door policy and isn't well coordinated with each other in terms of work being assigned....
Nomura Holdings - Review - Leveraged FinancePassionate team, great office with good perks; canteen, gym. Weekly drinks with team, easy to speak to senior members.. With everything it depends on the team one is working for. Some teams tend to be less friendly, however my team and desk and we’re fine....

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