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+26
What was your first big break?

kyleluck

My first big break was back in freshman year, I managed to cold call the head of investment banking at X bank. Managed to impress him enough to say he would help in pushing my resume for an interview for that year's internship. But never got the internship nor interview for the summers...

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+13
Books You Recommend

isa2130953

What books do you recommend!? Name any of your top picks - finance related or not. * Venture Deals - Brad Feld (Great for VC) * Prince of Tides - Pat Conroy (literally nothing to do with finance just a great book- sad tho) * Straight to Hell by John Lefevre (stories from a...

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+10
Making the move from Valuation to IB

_Bananas_and_co_

Fresh out of an undergrad taking on a full-time Analyst opportunity in a Valuation shop. Wondering what the exit opportunities are like after 1-2 years? IB? PE? Tips to make the move? Or would going back to school make more sense before making the move.

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+1
QUESTION: Federal Reserve and Private Banking

EFCSsponge

Hello! Does anyone know if you can work or intern with the Fed and then subsequently intern or work in the private sector?...

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+11
How to leave your IB analyst job?

throwitaway

Currently a second-year at a MM, satellite office with a smaller team. I've recently accepted an off-cycle MM PE associate role in my industry vertical and I'm going to start in July. My bonus pays last day of June, and for logistical reasons I'm going to have to relocate for this new job the first ...

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+84
The Path to Least Resistance: Why IB May Not Be What You Really Want

bill_ackman

As I am spending some time on my vacation and feel bored to death (please don’t judge), I wanted to share something that I think might be important to you guys. Although this thread will cause a lot of controversy, I have nevertheless decided to give in to my temptations and write a counterintuiti...

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+3
Blackstone Summer 2020

ch2intl

Starting discussion on 2020 Blackstone summer analyst recruiting. Has BX started recruiting? It's been silent thus far....

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+1
Chinese public companies retreat from Wall St

Skyview

Alibaba is going to list on HKEX soon. Does this mean a start for the Chinese companies quitting Wall St? What does it mean to NYSE or Nasdaq? Cold war for capital markets? Like to hear your thoughts. ...

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+1
State of RBC (NY) in 2019

ladbet

Seeing that RBC is in the top 10 in the league tables and that they advised on the Suntrust/BBT merger, curious about how people's perceptions have changed, if they have? Obviously one deal does not make a bank and they are still reliant on their balance sheet for deals, however there's been an effo...

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+1
Networking With People From Your Country

Boi

When networking with people in IB from your small European country (a couple million of us, and not wealthy) how do I address that or should I let my name address that and ask when talking on the phone about their experience as a ___ in IB?...

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+1
Direct Lending Intern transition to IB SA?

frothy88

jazzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz...

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+2
Testing thread

lusukapipe

Siparisiniz ve sectiginiz gonderim secenegi garantili teslimat icin uygunsa, odeme sirasinda garantili teslimat tarihini ve kalan sureyi (genellikle yesil renkte) gosteririz: ''... icinde siparis verin'' olarak belirtilen geri sayim suresi, belirtilen teslimat tarihinde urunun size ulasmasi icin ne ...

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+115
1st day internship work until 2 am (fucked up)

EUROPETARGET

At EB Right now. It's already 9pm talked to analyst who told me I'll be working until 2am on average (including today). I've been "reading" the compliance book since 2pm since there's not a lot to do on my first day. I think I fucked up and chose the wrong profession....

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+5
Evercore Lateral Analyst Model Test

AxeCap007

Have a model test scheduled for Evercore coming up and wanted to see if anyone had insight into what I should expect. This is for a lateral analyst position in New York. ...

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+1
Enterprise Value -- Purchase Price

monkey985

When a company purchases another for its enterprise value, does that company believe that said company is worth more than its enterprise value? Also, when people talk about a company's purchase price, is that the effective purchase price (i.e. including debt) or simply the amount paid for the compan...

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Lateral Hire Modeling Test

Piggy123

Hey all, I have an upcoming interview with an EB that will consist of a modeling test. Any idea of what they could test? Not really sure how to approach this and any help would be greatlty appreciated!...

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+1
Balancing subsidiary balance sheet after acquisition

Ballingwithabudget

Hi, I am trying to build a model where a HoldCo investment company acquires 75-100% of a target company. It is unclear yet if the HoldCo pays off the debt on the target balance sheet at transaction, and I am trying to build a model with various scenarios here. However, I have always used simplif...

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+2
GS JPM and MS SF reputation

flowerchange

Any thoughts about GS WRA (not TMT), MS SF, and JPM M&A in San Francisco, in terms of exit ops, culture, etc? How does this compare to opportunities such as CS, BAML, Citi and Barclays NY? I've heard that GS NY, MS NY, and JPM NY is better than the ones in SF, but would you take an offer from these ...

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+4
UCL vs. Warwick vs. CASS for BSc

Ilya K.

Hi All! Year 13, got offers from Warwick and CASS for Management, and from UCL for IMB (information management for business). Which one would give me the greatest chances for breaking into M&A at a top BB? I know the courses aren't great but have a solid CV (3+ internships) + decent CFA lvl. 1 kn...

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+5
How easy to go from Chicago to NYC Post Banking?

Bankerguy92849

Title says it all - how easy is it do get exit ops back to NYC if you start off in Chicago at one of the better offices there (Moelis/GS/Lazard/etc) and want to go back to NYC....

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+42
Summer Analyst Hours at BB/EB

ibpotential

What hours should someone expect as a summer analyst at a BB or EB. I obviously know that a FT analyst can expect 80+ per week, but is that the same for a SA? Mod Note (Andy): Don't miss the most upvoted comments below: Top comment 1, Top comment 2. ...

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+1
FIG Valuation

outofoffice

Valuation of FIG between FCFE or Dividend Discount Model? in the FIG industry because of capital regulatory ratios such as Tier 1 capital, I have always been more comfortable with using the DDM as it allows us to find out the cash that a bank can pay to shareholders while taking into consideration ...

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+2
Need to choose between RBC NY or HL NY?

gorilla6293

Any advice would be much appreciated. Dont have any offers yet but in a debate with my friend who has an offer from HL ...

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+1
Upper Westside Three Bedroom One and a Half Bathroom Duplex Apartment

jeanineschnell

Looking for a roommate who will occupy one bedroom which is fully furnished and have a smaller bedroom to use as office space. I am an owner of a small dog and I am a non smoker. The building is on Columbus Avenue and has 19 floors, laundry room on the lobby level and 24/7 security guard. Asking $15...

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+1
Modeling question: how to create a toggle that allows a 3-statement model ouput to be shown monthly, quarterly, or annually

wild_heart

Does anyone know how to do this? Can you do it with Offset & Match? Any suggestion would be highly appreciated. I understand Offset & Match can be used to create scenarios, however the outputs always have the same number of columns regardless of the scenario we select. For the model output to dynam...

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+1
What to expect from the Series 50?

FunkyFresh72

I am 99% sure I am going to land an analyst position at a pubfin firm in NYC. If offered the position, I have to pass the series 50 within 30 days (the firm will provide study materials and will pay the exam fee). Im kind of nervous. A quick google search tells me the national pass rate is 84%, and ...

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+1
Do you have to meet up for coffee during networking, or is a phone call enough? And is it too late to network?

flowerchange

I want to be based in new york next summer for IB, but I'm interning in a city far away and won't be able to meet up with bankers. I have very good stats but wondering if just a phone call will be enough to get me an interview. Will this be a problem for SA 2020 recruiting? Also, is it too late to...

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+11
Incoming Associate - Advice

ilovefrankee

I've seen lots of posts giving advice to incoming analysts ('What I Wish I knew before joining [BB]') but I haven't come across any for incoming Associates. For background, I'm joining a BB (London) having worked in a family office role for 3+ years. I'm mentally preparing myself for the increase...

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+3
Better Work Life balance

theGodfather

Just finished my internship in M&A at a Boutique (think Roth, Laz / EUROPE). Never skipped a week end, also analysts, associates and VPs are always there... no matter if it's Saturday or Sunday. I like this job, never stop learning but imho not worth all the sacrifices (I know not everyone here th...

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+4
Lateral Opportunities "What would you do?"

Bill Stern @ Axe Cap

Just received 3 offers from STRH, Regions and Fifth Third IBD coverage team. However, I have only been 5 months into my current role as a BB ABL analyst. I was wondering if someone could potentially offer advice and guidance on what would be a good step for me to take. I will be moving to a new city...

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+1
RBC ECM SA 2020 Superday

Zemaitis32

Hey everyone, Wondering if offers have been extended yet from the Equity Capital Markets specific superday earlier this month with RBC. You had to specify your interest in ECM in your IB SA 2020 app to get invited. Thanks! ...

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+109
What Made You Ding a Summer Intern?

ctrl-z

Title says it all. I know that the intern making accumulated simple mistakes or if the intern just isn't a cultural fit they won't end up with a return offer. Do you guys have any stories of single actions/events where an intern was instantly 'dinged'... like something you can't come back from? Wo...

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+4
Help with UK Summer week/Summer Analyst recruiting

WChssenior

Im an incoming freshman (or first year, whatever you want to call it) at Oxford studying PPE after this summer. Rn im confused abt summer week -> summer analyst. Once I complete summer week at a bank, do I get a return offer for the coming summer or the summer next year (that is if i get an offer). ...

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+5
Qatalyst Partners First Round Interview for Full-Time

gonline47

I just received an invite for a first-round interview with Qatalyst Partners for their full-time position for 2020 in SF. I currently am working as a summer analyst at a BB for S&T in New York, and this feels completely different considering its boutique, and investment banking in SF. Do you guys ha...

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+1
How does someone know they want to be an MD/that they’d be a good MD?

Jacob42

All the analyst work that people do seems to be Excel/PowerPoint editing and financial models. But MDs are more relationship-driven roles. So how does someone know they’ll like/be good at being an MD as an analyst or before even if the work isn’t really similar at the entry vs. the senior level?...

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+2
Columbia GS. Is it BS?

Younghoon

Hi, I found Columbia GS a good looking way to transfer. GS stands for general studies, and they take all the same classes as columbia college students. Same classes, professors, and even the diploma. My major is going to be Econ. The thing is, Columbia GS consists of non-traditional students such ...

5
+1
Thoughts on Tesla being acquired?

ProfessionalPatagucciHardo

Recently saw a post about Tesla being a good acquisition target. Attached is the link: https://www.investopedia.com/will-tesla-be-taken-over-by-ford-apple-or-toyota-4688794?utm_campaign=fb_main_page&utm_source=facebook&utm_medium=social What are everyone's thoughts on this?...

1
+6
Barclays Group Placement

pooponme1234567890

Anyone know when Barclays will send out group placements for this upcoming summer for the summer analysts...

11
+2
Teach for America vs. Boutique IB

EarlFromUtah

So I go to a top Ivy, and majored in the humanities. I got into Teach for America in their early admissions round, but I also have an offer lined up at a boutique investment bank in NYC. I’m not sure what I should do. The path I’m familiar with is TFA -> MBA -> Consulting/F500. I’m not sure if...

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+113
Investment Banking Resume Template - Official WSO CV Example

WallStreetOasis.com

Attached to the bottom of this post, you will find the Wall Street Oasis Investment Banking Resume Template for undergraduate students, used by the WSO paid service and thousands of candidates to successfully land a job in investment banking. For those of you looking to make sure your CV format i...

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+22
Future of Oil & Gas Banking

ogbanking713

From Texas, plan on going the Associate route after my MBA. Is it still prudent to go into O&G banking if you want to be a career banker? Won't the industry keep fighting an uphill battle that gets steeper and steeper every year? Is this on the back of the minds of current bankers in O&G? I'd lik...

22
+2
VERY Basic Financial Modeling Question Regarding Time 0 Cash Flows and Initial Investment

cbermudez8

I need a small favor. I have a very basic question about discounted cash flow modeling. I think I know the answer, and it is probably obvious, but I have been thinking about it so much that I have confused myself. This issue is very important to a financial model I have created for the acquisition o...

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+4
Rising Senior...Would highly appreciate some insight on developing a strategy to land a FT offer

AceVen

Hello All, I am a currently a rising senior studying finance at a top 50 US undergraduate business school. Next week, I start my summer analyst position in NYC. Although I a grateful to have landed an internship in a tough job market, and will make the most of it, the internship is within the opera...

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Law School Sanity Check

jl12

I am considering going to law school and want your guys' opinion on some of the reasons why I want to go to law school. I want to emphasize that these are not the only reasons why I want to go to law school. These are only the ones relevant to this site. Background: - I just finished my junior year...

10
+6
End Game

bluecollarfinanceguy

Monkeys, Generally speaking, I think we would all agree that the easiest way to get rich is to invest the most amount of money as you possibly can, as early as you possibly can and to let it ride. I personally believe this, and this is what drew me to a career in this industry. Also due to this be...

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+2
What does it mean to "contact HR"

sdfkjkjsdfkj

I was told by a contact to reach out to HR about getting an interview. Who should I contact and how could I find their information? I'm a sophomore at a non-target for this firm....

2
+3
Should Vertical-Integration Be More Regulated?

isa2130953

While monopolies may seem a thing of the past, they are still our whole reality. Ever since the 1890 Sherman Anti-Trust Act, we have scarcely seen the horizontal monopoly, but vertical monopolies are still a huge chuck of the giant companies out there. ####For further analysis on horizontal monopol...

11
+96
Worst Interview/Job Experience: Can You Top Mine?

isa2130953

I desperately wanted to move to California and I was applying to every job under the Sun. The first call I got sent me through the roof, and it was for a "finance" job but they were very vague about what they actually did. That was the first red flag. My naive self hopped on a plane with some of m...

122
+1
JP Morgan application status

Onito

I applied a position online and a few days later I got a hirevue invite but on the same day, my online application status became "Withdrew" and the job status says inactive (No Longer Accepting Job Submissions). I did not withdraw the application myself. I was able to complete the video interview a...

1
+2
Alumni Cold e-mail

wdupguy

Trying to get a fall IB internship. Here is my Cold E-mail template that I started using today. No responses so far :[. Thoughts? "I am a rising junior at semi-target currently interning in Corp 500 FP&A. As someone learning more about finance and financial markets through this internship, I am he...

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+1
2019 SA First Day Logistics

DarkArts

My 2019 SA stint for a MM starts next Monday and I have yet to receive an email detailing the first day logistics. Anyone else?...

4
+1
Goldman Virtual Insight Series 2019

Wangjangled

Did anyone register for the insight series this summer? I got an invitation but never received any materials about the start/the event after registration. It started Monday, but I still haven't gotten anything. Anyone else run into this problem?...

1
+1
"Well, I have no more questions, so what else do you want to tell me about yourself?"

TheZhanMan

Had an interview go really, really well, really clicked with the interviewers, etc, but 20 minutes in they just threw me this question and I got caught totally off-guard. I ended up telling them something I did that wasn't on my resume, but wasn't sure if that was the best approach. Any advice on ho...

1
+94
2018 /2019 Bonus Discussion

AllBurnedUp

That time of year again. Banks have finished their fiscal year and should be close to payout time (BMO / RBC / others?) Thought might be good to start a thread to see where comp is shaking out. I realize WSO has a database, but in an effort to keep things blinded and semi-real time lets post here....

155
+1
MM ER internship to IBD SA (UK/HK)?

Hellomyles21

Hi I am currently a graduate doing an ER internship at a middle bank with some global presence, especially in Asia. While I found ER interesting and learned valuable skills on the way, I realised I wasn’t a markets guy and wanted to work with private information, instead of just following companie...

4
+2
Which BIWS course should I get? Breaking Into Wall Street

ozilgoff

Looking to learn valuation, accounting, finance, and excel to win valuation roles. Breaking into wall street offers a lot of courses and it's pretty pricey. Which one should I go with? The basic $347 excel and fundamentals-accounting, 3-statement modeling, valuation, and M&A and LBO modeling, the $5...

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+5
career paths for for aspies in finance other than hedge funds

BobbybananamA

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+13
PowerPoint Skills

WallStreetOasis.com

Hey guys, something in the works right now, but for those of you in IB, what are the top things that determine whether someone is "good in PPT" or not for IB? Obviously attention to detail matter, but I mean more specifically within PPT...what skills are crucial? alignment/quickkeys/consistency, e...

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+1
How are the hours in Compliance, Operations, and Risk Management at a BB Bank?

Reggin

Are 50-60 hour weeks common in back/middle office functions like Compliance, Operations, and Risk Management at a BB? At first I thought they were solid in by 9 and out by 5/6 jobs, but I asked a few friends in compliance who cited "50-60" hours weeks in compliance and "occasional 55/week" in Ops. A...

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