Silver BananaTopicReplies
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University of Toronto Undergrad Financial Engineering - Thoughts?UofT's engineering department offers an "Engineering Mathematics, Statistics and Finance" major. According to its description: * "Students are provided with a strong background in mathematics and statistics, and an understanding of how these disciplines apply to practice in quantitative finance...
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What are Nomura London best IBD TEAMS 2017/2018What are the best teams - Nomura London? Any updates would be appreciated. Thank you so much. xoxoxxo...
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TMT London - European BB or US BoutiqueHi All, Am a 2nd year in London and about to leave my current employer (European balance sheet bank). Got two offers: TMT boutique ( think of LionTree, Raine, Quatalyst ...) vs TMT team of an European BB (think of Barclays, UBS, CS...) and thinking to get some advice here. Both teams have good d...
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credit suisse leveraged finance origination & restructuringDoes anyone know about the reputation of this group? How much bankruptcy/restructuring do they actually do?...
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What do you EXACTLY do in ECM?I have been interviewing with a BB (GS, JPM, MS) for an ECM associate role and I am still not completely clear about the exact responsibilities that ECM have vs. IBD. I am currently working at a boutique and we don’t have the same structure and division of responsibilities. I have asked the ques...
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RBC Capital Markets - Review - Debt Capital MarketsGood work/life balance, good pay, small team, generally friendly environment, strong deal flow, educational meetings with other teams. Rare to hire back off-cycle interns, small team, limited exposure to modeling, many miscellaneous tasks...
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BB offer, fucked up grades MF recruitmentHey guys, I have a BB offer in London for SA after 2nd year. But even if I get return offer, it will be revoked since I really fucked up my grades. I know that there are many PE funds which recruit out of undegrad. But do you know any MF which recruit Undergrad students with BB experience but fuck...
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Do syndicated loans have the same priority as bank loans in the capital structure?i.e. Are they less risky and therefore more senior than senior secured notes? Do they have the same priority as plain-vanilla bank loans, or is it Bank Loans > Syndicated Bank Loans > Senior Secured Notes? Also, is a revolver be more senior than a TL? Thank you!...
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General experience - those who have got offers, transcript/background checkingJust wanted to post this to hear from you guys about your experience. When you have got offers for IBD BB SA's, when do these firms generally request your transcripts and check you grades/GPA? Does anyone know specifically for GS. For example say hypothetically I have my offer now for GS SA19 and ...
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Jefferies & Company - Interview - Investment BankingStandard questions around DCF (walk me though a DCF, how do you build your cash flows), multiples (can you divide EV / net income?), how you value a business (LBO, DCF, comps, etc). Most difficult part was to stay under control as there was good/bad cop interview where they were testing whether you ...
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Crédit Agricole Corporate and Investment Bank - Interview - Corporate BankingWhat is a reason for a loan to underperfom? What is a reason for a loan to underperfom? What is a reason for a loan to underperfom? What is a reason for a loan to underperfom? What is a reason for a loan to underperfom? What is a reason for a loan to underperfom? What is a reason for a loan to under...
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dbAchieve Summer 2019 ApplicationI am a rising sophomore at a semi/nontarget. I'm really interested in the dbAchieve program. Any insights on the recruitment process for this program from past participants? What is db looking for? Advice on what to write/mention in the essay? "If you are interested, submit your resume and a short 5...
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BNP Paribas - Review - Corporate Banking- DIverse industries served and geographies covered - Quickly exposed to live transactions if capable - Great on the job training - Most managers can be easily accessible to learn from them - Work & life balance. - Some employees work against the bank which results sometimes in slowing the execution...
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Morgan Stanley - Review - Mergers and Acquisitionsgreat people, great company, great location. you learn a lot on the job and get to meet a lot of new people to network with. work life balance, long hours, pressure, shitty middle management. its hard having a balanced life when youre working 100 hours a week...
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TMT in LondonWhat are the best places in London for TMT as an analyst? How does Arma partners comprate to them? Thanks!...
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Feedback on CS Singapore internship?Hi, Just wondering if anyone can share there experience interning at CS SG as I recently accepted an offer and I'm curious about the culture....
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Citigroup - Interview - Corporate BankingWould you want to be the CEO of Google or Goldman Sachs? (or any other large tech versus large FI) ...
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Credit Analyst AMABackground: I work for one of the largest banks in the world by assets, in credit analysis. My job is basically to analyze the credit risk of large corporates (generally more than $1Bn in revenue). Products are not limited to loans and revolvers, but extends to everything under the sun that is credi...
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Chicago versus New YorkSo I know the top shops in New York and Chicago, but at what point are experiences in NY and Chicago equivalent? Ex: UBS-Chicago versus Bear Stearns-NY, or JP Morgan-Chicago versus BofA-NY. Also, for those that have worked in both Chicago and New York, can you talk about the major pros and cons of...
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Moelis & Company - Review - GeneralistGreat experience with lots of work and training and good exit opportunities. Good team and generalist analyst wide exposure. . Long hours, cutthroat environment, sometimes unreliable bosses with poor communication skills, not a lot of training....
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Moelis Boston OfficeHow is Moelis' Boston office? Do they do lots of deals over there, or would that be a very different experience from the NYC office? Interested in seeing if exit opps would be the same as in NYC office. Thanks all!...
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What are "case" technical questions?I have a first round (video call) with an EB for SA coming up, and I have heard it will be technical, but more "case" based and not straight out of the interview guides. What does this mean? Perhaps they will ask questions that could be applied to companies (i.e., "why would working capital be negat...
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Not Sure?Hello everyone, So I have a corporate finance internship lined up for this summer at a major advertising firm in NYC, just in case I can't get an internship more relevant to banking. The thing is, I am wondering if I should do that internship, or take a job at my school that might be a bit more re...
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BO to FO probability I was having a discussion with a friend who is starting out in internal/ops at a BB. I figured that role was considered BO but in their eyes it was the first step before moving into FO internally. Their logic, better to get in the door than not at all. Is it common/easy to switch from BO to FO, I...
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Bank of America Merrill Lynch - Review - N/AGood exposure to large transactions. Relatively good work-life balance. Team/culture of the group is good. Junior talents have left over the past few months. Analysts are getting worked pretty hard compared to previous years...
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Goldman Sachs- transferring locations post internship?I'm a current junior and am interning at Goldman Sachs in Salt Lake City this summer. I want to transfer offices post internship (preferably to Chicago). Has anyone done this successfully? Should I just apply for full-time positions in Chicago online this summer or should I try to work internally to...
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series 7 difficulty relative to series 79?Anyone done both the series 79 and series 7? I thought the 79 was a pretty big time commitment, but the book for the 7 appears even more massive. On top of that I am working at the same time so kind of worried. How was the 7 relative to the 79 in terms of difficulty? appreciate any advice from pe...
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CFA vs. IB Analyst with MBA?Better hire? CFA charterholder vs IB Analyst with MBA, assuming that the CFA has 4 years of non-IB experience. ...
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Two Bonds w/ Different Maturities but Same Price / Face. Which has higher yield?Can someone explain why they have the same yield? Wouldn't a longer maturity imply a higher yield to compensate for the additional risk? Thank you! ...
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Perella Weinberg Partners - Interview - GeneralistTo be honest there wasn't much that was very unexpected. They asked for basic 3 statements, how they link, etc. How to account for various transactions. Basic valuation methods and pros/cons to each method. M&A - why would you acquire another company? What does it mean to be accretive/dilutive? Give...
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Healthcare IB ResourcesI am a junior in undergrad and looking to get into healthcare IB following graduation. Does anyone know good resources to learn more about the industry or any advice on getting into the industry? Thanks!...
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Thoughts on Silverpoint Capital?How are SPC's performance and culture/comp in recent years? And their investment mandate? I noticed they have several guys in Chicago for direct lending or MM PE, and they also hired some analysts with real estate debt background? Also, it's one of the few distressed funds hiring undergrad kids. Fr...
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PJT Partners - Interview - Restructuring1. If you were working at the firm as an analyst and were asked to design the PJT restructuring interview process, how would you go about doing so? 2. You have a company with 50 in EBITDA. You find that market comps for comparable companies is around 6x. The company has 400 in debt and 0 in cash. W...
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Millstein and Co - Interview - Restructuring1. There was a value-break analysis type question that asked how much the secured loans would be trading at and how much the equity would be trading at. The given data was 50 EBITDA, 10x EV/EBITDA multiple. The capital structure was 400 bank debt, 400 secured loans, and the rest was equity. 2. Ano...
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PJT Partners - Interview - RestructuringDuring 1st round they seemed to be gauging interest in PJT RX. Asked lots of questions about resume and why RX and why PJT (needed really solid answers for those). Technical questions in 1st round were not hard: Why discount using WACC? Why is the CAPM formula what it is? Superday was entirely case ...
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Société Générale - Interview - Mergers and Acquisitions- What's the birth rate in France? - Why do you have to remove treasury shares from the share count when calculating equity value? Why would a company buy its own shares back? - I also had a ECM related question : if you're an investor in a company, and that company raises new capital, how can you b...
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Wells Fargo Intern Earning 40K?My friend recently received an IB internship from Wells Fargo and claimed he was going to make around 40K this summer. His logic was to work 80 hours a week for 10 weeks where he was going to earn $40 per hour and $60 per hour overtime. Can someone with past experience confirm this?...
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UBS Investment Bank - HealthcareInterested to learn about the current state of UBS - Healthcare...deal sizes, culture, exit opportunities at Associate level......
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Macquarie Group Limited ABN - Review - Mergers and AcquisitionsSteep learning curve, lots of responsibility provided to you as a junior and interesting work, company very willing to take you to client meetings. Tough hours at times during deals, harsh feedback and high expectations in terms of work from the get go...
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Citigroup - Review - HealthcareChill, good people, decent deal flow. There is a lot of others but these three points are key to know. Name brand and prestige. People make fun of “ shiti “ so it isn’t the most highly sought. But who cares right ...
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Goldman Sachs Los Angeles OfficeDoes anyone have any insights into this office? I know that they are exclusively WRA, but I’m curious about prestige, deal flow, exit-ops, etc. ...
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2019 Sophomore InternshipSup Monkeys, I am currently a Freshman at a non-target school but have a 4.0 GPA and a nice M&A internship at a Fortune 500 company lined up for this summer. Just starting to think about the process for internships after next year and was wondering if anyone has any advice for getting a sophomore i...
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2018 GS Undergraduate Camp vs Barclays Sophomore SpringboardI just received notice that I got accepted to the GS Undergraduate Camp and the Barclays Sophomore Springboard Program. The GS runs from May 14-16, the Barclays from May 16-17. Does anyone have any insights/experiences at either? The GS program offers networking opportunities for all groups, worksho...
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Guggenheim Partners - Review - Investment BankingVery hard working office, gast growing firm. Hours are what you would expect from a growing boutique.. Dealflow is spotty, some huge deals come through while others are more middle market. Still establishing its reputation on the street....
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Millstein and Co - Interview - Restructuring1. What are the advantages of filing for bankruptcy? 2. Walk from EBITDA to Free cash flow 3. What does it mean if change in net working capital is negative 4. How can Enterprise Value be lower than face value of net debt? 5. Why might a company go bankrupt if it isn’t in a declining industry?...
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Kimberlite - Interview - Mergers and Acquisitionsthe modeling test was just difficult. a debt waterfall basically but had complex components of the acquisition company being public. on the phon interview there was a question that was easy. It was: how can you improve IRR of a real asset. I simply answered by investing in improvements to the asset....
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advice needed for internship in investment bankHello. I'm an accounting and finance major s . I recently got an opportunity to intern for an investment bank. However, before I reach the interview phase I need to submit an investment proposal. In the attached picture are the requirements. ![w][w] It seems to me that this is too open ended and vag...
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JPMorgan Chase - Interview - Sales and Trading1. Can you describe a morally ambiguous situation you were in and how you dealt with it 2. What makes you stand out and why should we pick you instead of other candidates 3. Have you ever done something that your parents did not want you to do and then you got caught, can you describe the situation ...
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BAML Consumer and Retail groupHey Guys, I was wondering how BAML C and R is ranked in respect to other C and R groups on Wall Street and some exit opps that are available if you end up doing C and R at BAML. Any input would be greatly appreciated....
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LionTree Advisors - Interview - Investment BankingThe most difficult question asked was how to get from P/E ratio to EV/EBITDA, and you were given a set of figures that ranged from revenue amount, margin for ebitda, percentage of debt and equity, depreciation and ammortization, costs of goods sold as percentage of revenue, and you would be required...
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Junior Analyst. Fucked up and I think I might be gone. Was it too bad?I fucked up an email sent to potential investors. My MD gave me shit and I'm pretty sure I'm gonna be out the door before this day ends. I owned up to my mistake, but was it really that bad? Like, would a potential buyer not look into a teaser just because the header of the email has a typo?...
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Guggenheim NYC: updated reputation, culture, exitsHey, I've done a good amount of searching regarding Guggenheim's rep, prestige, culture, and exits, but I see a lot of older threads/information and dissenting viewpoints. I do hear, however, that it's growing quite fast. Does anyone have an updated/recent view on their exits and culture? Had a sup...
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Source of Cash vs. Use of Cashhow do we understand what's a source and what's a use? I understand AR/AP, but are there other instances? Sources vs. Uses of Cash on the Balance Sheet Broadly speaking - sources of cash are things that yield cash and uses of cash drain the cash balance. Assets are typically a source of cash as the...
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If I am interning at a BB in IBD in one group SA - is it possible to switch into another group full time?Hi - was wondering how easy it is for me to switch into another group within IBD if I am in SA in a certain group? For example, if I am in investment grade finance but want to switch into Lev Fin or M&A - how do I do this and how hard is it? Would appreciate anyone who knows or has tips on this/has ...
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Selling Knopman Series 63 & 79 Study MaterialHey guys - I am selling my Knopman Marks Series 63 & 79 books. I am not located in NYC but can ship anywhere in the US. Comes with book and study materials. ...
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Securitization of Pharmaceutical/Biotech IP - Intangible Asset-backed SecuritiesDear Friends, I am conducting some research for a paper exploring the potential for large-scale securitization of pharmaceutical/biotech IP and their role in forming an alternative funding method for small to mid-cap pharma. If anyone works (or knows someone who works) in/with securities, derivati...
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Bain Capital PE vs PJT RSSGHi monkeys, I go to a top target (H/W) and I am currently deciding between 2 SA offers. I am learning towards PJT RSSG due to the highly technical exposure in RX and having the flexibility to switch to L/S HF, PE, distressed HF/PE in the near future. I understand that Bain Cap is already buy-side ...
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First round Interview at PJT (BX) RSSG and HL RXDoes anyone have some insights into what top RX groups' first round interview look like at associate level? Are they different than general boutique banking interviews (some fit + difficult technical)?...
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Moelis vs. Evercore vs. PJTAlready accepted an offer to one of these, but wanted to get the general perception of these groups. Had an offer for Moelis, Evercore rx, and PJT advisory (they had apparently already finished rx). All are NY based. Moelis - tougher culture, blended program so get some rx exposure, great reputati...
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Do I have a chance at PJT RX if I'm not from Wharton/Harvard?I got a first round with PJT Restructuring despite having a 3.6 and zero banking/finance experience on my resume. I go to a target, not H/W though. Is the playing field relatively even once I have this first round? Do non H/W kids have a realistic chance at PJT RSSG? Any specific things I should do ...
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Goldman Sachs Virtual Insight SeriesBeing that I was ineligible for all diversity events, I registered for the Goldman Sachs Virtual Insight Series, which seems to be a virtual networking event. I just received the e-mail for the HireVue, with one question in a separate e-mail. The main e-mail says the interview length is around 10 m...
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How do Balance Sheets affect a BBs performance? How do balance sheets affect a banks performance? What about a bank’s (JPM, BAML) balance sheet enables it to compete better in IB? What exactly do banks use large deposits for? ...
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How do investment banks allocate analyst and associate headcount to different groups?Does anyone know what the process is for how groups get junior banker headcount allocated to them? For example: -- Do a certain number get allocated to groups them based on the # of MDs in the group (i.e. X analysts/associates per MD)? -- Is it based on projected revenue or deal count (i.e. this ...
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PWP vs. Guggenheim IBDHave options at these two firms and am having a very hard time deciding. Could anyone provide insight on exit opps/pay/culture? I get the impression Guggenheim has more upside, but PWP is safer...It seems like Guggenheim has been rising fast, with their most recent class getting great exits...but ...
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SA 2019 Boutique offersStudent at H/W/S and was fortunate enough to get offers/interviews at these places. I was interested in getting some unbiased opinions ranking summer analyst spots from the following boutiques: Guggenheim NY, Rothschild NY, Greenhill NY. I have my own opinions but wanted to hear unbiased opinions ab...
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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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Bank of America Merrill Lynch - Review - PowerWe were ranked the #1 team and had good management and budget support to do everything we needed to do.. The hours were long and the work was 'grindy' - similar to being a news desk at bloomberg rather than putting out unique research...
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US to HK IBDHow hard is it for an American to work in Hong Kong through an internal transfer or Analyst/Associate off-cycle hire? Never got to go abroad in college and would love to go to Asia for a few years before making a long-term career move....
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2019 IBD SA Recruiting Timelines London Hi All, I read IBD SA recruiting in the US has begun extremely early this year for 2019 positions. I was wondering whether anyone had any info regarding recruiting on this side of the pond. Will applications here also open sooner? Many thanks...
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Credit Suisse Women's Top Talent Program 2018Does anyone know what the program structure is like? Is there a super day? (this is for IBCM, Equity Research, S&T or Tech). Thanks!...
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Deutsche Bank - Interview - GeneralistThe majority of my interview investigated valuation methodologies highlighted on my resume. So, the interviewer asked questions about comparable analyses, precedent transacations, M&A premium analyses, discounted cash flow valuation, and accretion & dilution based questions to probe whether or not m...
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Need Networking Advice. 2018 Summer Internship, Should I Still Recruit For 2019 Full Time? Hi all, I am looking for some advice regarding a situation I am in. I recently got a BB internship for the summer of 2018 (my dream internship) and I am excited for it. At the same time, I still want to expand my network at other firms just in case full-time recruiting is necessary. I have several...
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Top IB Recruiters in London for lateral hiresHi all, Anyone know who the top IB recruiters are (e.g. which ones do Evercore, PWP, PJT, Centreview, GS) use for lateral recruiting at an analyst / associate level? Thanks...
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HSBC - Review - Investment BankingKind people and soft environment No one is pushing too hard No punishment if you generally do not feel well and wanted to take sick leave Flexible on holiday . HSBC’s core business isn’t investment banking and you will soon realize it after joining. No one seems to care about junior development...
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HSBC - Review - Investment Banking-Onboard training in London -Rotation programme gives the possibility to explore other teams -Pooling system. - No accelerated promotion especially at junior level - Long term total compensation curve flat ...
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