Silver BananaTopicReplies
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Did anywhere hear back from JPM Launching Leaders (CB)? I applied for Launching Leaders Commercial Banking through SEO and I still haven't heard back. I completed the application essay 2 weeks ago. Has anyone who applied heard back yet? ...
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Wells Fargo and Company - Interview - GeneralistDon't remember the specifics, but some detailed questions about DCFs. Asked about time management and what/how have I put a team/group assignment first before an individual one. ...
Citigroup - Review - Investment BankingGood culture, friendly people. Tribeca is a nice place to work in. People are generally optimistic about the firm and its trajectory.. Not much food variety in Tribeca. Limited seamless is a huge drag. Most people work in Midtown so housing is difficult if you want to live with friends. West side of...
BMO Capital Markets - Interview - GeneralistYou have two similar companies in terms of financials and growth, why might one company still trade higher than the other? What skills do you have that apply to banking and how did you develop these skills? What have you heard about BMO? Is there anything you haven't enjoyed about your current in...
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Majoring in Wall Street?Right now, I'm a freshman at a non-target school majoring in finance. My question is three-pronged: 1.) I've heard that Finance, Econ, and Accounting are by far the best degrees for landing on Wall Street. I've heard that Finance is slightly better in terms of entry-level opportunities, and I prefe...
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No-Name Quality Investment BanksThere is a lot on this website about the boutiques you should not work for, and we all know about the elite boutiques that provide useful experience (Lazard, Evercore, Greenhill) but are there any small, no-name investment banks that provide valuable internship experience? Specifically, did anyone h...
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Big 4 to Commercial Banking - AMASlow day at work today, studying for CFA, but taking some breaks here and there. I don't think there is a lot of information on this board as it relates to commercial banking, at least from the perspective of more junior employees with under 5 years experience. Not sure if there will be a lot of int...
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XMS Capital Partners? Was looking through my school's career portal and found a listing for XMS, a boutique investment bank in Chicago. Has anyone heard about the bank in terms of culture, hours, exit opportunities, pay, etc?...
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UBS Financial Services - Review - Credit RiskGood work environment Lower working hours vs front office Lot of opportunity for internal mobility . Very bureaucratic environment, lot of change and indecision at senior level Long working hours at certain times depending on level of activity ...
Lazard - Review - Mergers and AcquisitionsGreat team and culture. Exits are getting better and better with the office getting some pretty big clients. Industry can get boring. Can get blown up quite suddenly with no warning, all the regular cons nothing too special...
Lazard - Review - Mergers and AcquisitionsAnalysts are extremely helpful from the start. Deal flow is also great and key for recruiting. There are work life balance initiatives that have helped (kinda). . Hours are not great and a lot of bad attitudes across middle / senior bankers. Stressful environment. Often times I have noticed that vac...
Lazard - Review - Investment BankingOnly did work on weekends if time-sensitive materials for client meeting or live deal; senior management was very open and would often converse with us. generalist summer but requires placement for full-time. The process is not straightforward and requires a lot of luck in terms of how HR feels...
Evercore - Interview - GeneralistInterview questions included typical "walk me through a DCF", what's enterprise value, how to calculate free cash flow, and what drives certain multiples, and etc. questions, also a few weird ones including explaining the significance of net operating loss and how it affects the three statements. ...
Lazard - Interview - Mergers and AcquisitionsStandard HR questions, why Lazard, why M&A/investment banking, greatest weakness, etc. I believe there was another question about giving an example of when you had to lead a group of people and how did you solve any issues that arose but I could be misremembering. There were only about 5 questions a...
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Why can't I break into Investment Banking? Failed all my interviews!Hi guys, This is the first time that I write a message like that but I hope that I will have your advice. First sorry if my english is not perfect, I am not a native english speaker. I come from a target school in Europe in Finance (Top 3) and graduated with a master 2 in Finance last year. It ma...
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Morgan Stanley - Review - Investment BankingSteep learning curve, smart colleagues, fantastic career prospects. Well compensated. I was respected by upper management and work-life balance was reasonable for IB.. Lots of facetime. I spent many mornings pretending to be busy, waiting for an assignment or work. Some of my colleagues were pretty ...
Credit Suisse - Interview - Investment BankingGreat, submitted my application online. I've never networked with people at CS, and my school is not a core target for CS. So really surprised when I received the first round. As for interview questions, I think it's not very difficult. A lot of them are behavioral, like talking about leadership ex...
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Simple bonus queriesWhat is the usual bonus % of Comp for an analyst and also st VP/D level? I assume it’s similar across most regions too. Ie. NY LA vs. LONDON Paris...
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Questions For Current Summer AnalystsFeel free to answer these questions at your discretion or to add any additional thoughts. * Now that you are more than halfway through your summer, what do you wish you had done differently in preparation? * What are you thankful for knowing coming into the summer? * What have you notice...
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Bankers Unite: Under Siege By EsquireWe are under siege by Esquire writer Christine Flammia "Dear Rich Young Banker Dudes, Your Bags Suck" A snippet: "A brief transcript of my own such story: "So, Christine, what do you do?" "I'm a style editor." "Oh, that's cool. I'd like to think I'm a pretty fashionable dude." He raises his ...
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Lazard - Review - Investment BankingGreat junior team in all groups, very willing to teach. Expectation that full-time offer is yours to lose, which creates a supportive intern class culture. Some teams have worse culture than others - seniors bankers can be difficult to speak to and the team structure can be very hierarchical...
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Debt Scenario ModelFor starters, I am not in IB but in Commercial Banking as a credit analyst in a MM group. My problem may seem simple to most of you but thank you in advance for taking the time to read. I am looking for advice and/or examples of how to take financial statements of a company and test them against v...
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Bonus Range for IB Analysts?What percentage of his/her base salary is a top bucket analyst's performance bonus? And how large is the gap in performance bonuses between bottom bucket and top bucket analyst? Hypothetical example: Top Bucket: Base - 85k, Bonus - 64k (75% of base), Total - 149k Bottom Bucket: Base - 85k, Bonus ...
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Bank of America Merrill Lynch - Review - Investment Banking* Managing directors in many groups are supportive in job hunt * Great junior culture - lot's of fun * Good junior banker initatives . * Top heavy * Hours can be volatile, as in any investment banking role * Not enough analysts/associates ...
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Highest CompCan we get a list going with banks that pay the highest comp for incoming IB Analysts out of college? I know Centerview should be on the list ...
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Citi - Review - Investment BankingGreat projects. Good location. Clean office. Everyone working here is kind and willing to help me out.. Sometimes the project can be time consuming. Maybe I am doing it wrong. Was expecting to learn more ....
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Most Badass Intern Story? I love the stories of interns crashing and burning, drinking too much, or doing something stupid as much as anyone else, but are there any tales from the opposite end of the spectrum? Mod Note (Andy): One of the most viewed posts of 2017. ...
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Stout Risius Ross - Review - Generalist10001000100010001000100010001000100010001000100010001000100010001000100010001000100010001000100010001000100010001000. 10001000100010001000100010001000100010001000100010001000100010001000100010001000100010001000100010001000100010001000...
Bank of America - Review - Healthcaremoney, career growth, opportunities outside of the industry and within the industry, meet senior leaders. lots of hours, lots of rudimentary work, miss family vacations or friends trips, have to have thick skin on job...
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2019 Full-Time Recruiting RecommendationsHey, everyone, I would appreciate any insight, I am going to be a fifth-year senior with only one semester left at a non-target school. Transferred there after playing college basketball elsewhere for a year and transferred due to a blown out knee. I am Double-Majoring in Finance & Management with...
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DCF Multiples methodI don't conceptually understand the multiple method. What does it mean to "assign a ratio such as EV/EBITDA from a comparable company to determine the terminal value". I think the wording is confusing me. Can someone give me an example? Lets say: A comparable company has a EV/EBITDA ration of 8X...
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Incoming graduate IBD analyst - checklistWant to have everything prepared and ready for when I start as an IBD analyst in a couple weeks. - 2 suits: Navy and Charcoal - 5 shirts - 3 ties - 2 black pair of shoes Was wondering what else I would need? Would I need a bag or briefcase? Or anything else at all you would recommend to prepare/ha...
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Death from Overwork (Karōshi) in FinanceAnother [heartbreaking story](https://www.wallstreetoasis.com/forums/summer-analyst-dies-at-lincoln-international) about an intern that passed away after working long hours just hit WSO and I'm thinking why does this keep happening and what can we do to prevent it (or at least make it more rare) as ...
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Piper Jaffray - Interview - Investment BankingWhy Investment Banking? The interviewer expected a detailed analysis and how this question relates to your background and career aspirations. Why the Company? Employer wanted to hear about interaction with employees and about an outline of the company's culture and values. Why this industry group?...
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Compensation Question - Middle MarketHi guys, received an offer from a lower middle market boutique in NYC - VP level. Similar to other LMM boutiques they pay a below street base with a % of fee instead of a 'performance bonus'. Base is only $105k. They say average fee is $1.5mm to $2.0mm (guessing they are exaggerating a bit to sell m...
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Piper Jaffray - Interview - Investment BankingWho was the most difficult boss you've had and why? Tell me about a time you had to work in a group and you had to resolve a conflict. Tell me about yourself (walk me through your background). Why banking? Why this bank? Who have you met here? What group are you interested in? Extensive resume que...
Perella Weinberg Partners - Review - Mergers and Acquisitions-Culture -Events (happy hours, etc.) -Good management all-around -Interesting work (M&A, some ECM/DCM, etc.). Everything is highly group-dependent, so if you get in the wrong group you are basically screwed.......
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2019 J.P. Morgan Investment Banking SADoes anyone have the questions for the IB hirevue that they are willing to share or any insight of how the process goes? Thanks guys!...
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where do i go in the next 2 yearsSo, im at a slightly above average stem school majoring in Electrical Eng, 3.5 GPA w/ a non-ib internship this summer at a BB(UBS NYC). What do I have to do if I wanna turn that into an IB internship by my junior year summer? currently a sophomore THANKS!...
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How to get into Bank of America Merrill lynch summer internship, Questions and Tips on landing the Job. I am new here, Joined wall street to learn about invesment banking interviews and in particular about Bank of america, merrill lynch and tips on how to do well in interviews, kind of questions they ask , and what to expect....
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Stephens Inc. vs. Raymond JamesI've seen some good threads on both, but I'm wondering how Stephens Inc. and Raymond James stack up to each other overall. Also, I have some very good insight into Stephens in Arkansas, but I'm curious how Stephens' ATL office compares with RJ's....
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Is my modeling experience typical? - MM Boutique AnalystI am currently several months into my second year as an Analyst at a medium sized middle market boutique bank in a major midwest city. My experience has been great, and I know it is far off but I am already thinking about what my options will be in less than a year. However, as of right now, the a...
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Deutsche Bank - Interview - Investment BankingI got asked a couple of brainteasers such as how many golf balls can fit into a Boeing 737? What are some of your unique strengths and weaknesses? Tell me about a specific tech trend that you follow and find interesting and what you find interesting about it. Then they asked some specific follow-up ...
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HELP PLEASE, Present Value of Future ValueHello all. I'm doing a PV of FV analysis using both P/E method (applying NTM P/E multiple to NTM EPS, then discounting by cost of equity) as well as the EV/EBITDA method (applying NTM EV/EBITDA to NTM EBITDA, then subtracting away debt, noncontrolling interest, adding cash, etc. to get to equity val...
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Lazard - Review - Investment BankingThe culture was tremendous the entire summer with many people willing to take the time to teach the summers. A ton opportunities to learn about different industries and transactions while also forming your own opinions and contributing to the conversations. The junior bankers carry a lot of responsi...
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Help me pick my undergrad- U Mich, Boston College, Pitt, & OthersNot sure if this is the best place to post this, but I'm going for it. I need to make a college decision by May first and I'm pretty damn lost. Right now, my options are U Mich, Boston College, and Pitt. Additionally, I was wait listed at UVA and UNC (Rejected from Duke, Northwestern, and Georgeto...
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Morgan Stanley TorontoDoes anyone know much about the Morgan Stanley Toronto office? What is the deal flow like, does the office execute deals themselves? Is it very mining/O&G focused, what are exit opps like...
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Got Goldman HireVue, but I don't meet GPA reqNot sure if it means they're overlooking it, or if they're just not going to consider it after I do the HireVue. Thoughts?...
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Citigroup - Review - Financial Institutions Group (FIG)Large amounts of responsibility early on, modelling exposure, seniors always open to recommendations and questions, visibly concerned about my hours, but I had lots of fun. None, other than it was advisory instead of principal investing. Really missing some people, had a great time...
Piper Jaffray - Review - N/AGreat culture, respectful seniors, exposure to all parts of deals. Pays street and meal stipends are average.. Lots of administrative tasks to be done because of leaner deal teams. Fewer resources than bulge brackets....
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Second year analyst interviewGoing into interviews for a second year analyst position at a BB in London this week and would very much appreciate any input on how these interviews may differ from SA and first year interviews, especially with regards to technicals. How much different do you believe the technical questions will ...
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William Blair - Interview - Investment BankingI would definitely say to go into the interview prepared with an industry that you like and know about, or just one that you know in depth to answer multiple questions. You will be asked about a company or two and how they keep an edge on their competitors and how its valued. There was also an LBO ...
Goldman Sachs - Review - Investment Bankingccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc. ccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccccc...
Capital One Financial - Interview - TechnologyThere was nothing too difficult, but some of the questions were you know it or you dont type questions meaning they were conceptual. Like if you didnt know some stuff about AWS and they asked you how to implement a load balancer using AWS you wouldnt be able to answer that query properly. Other than...
SunTrust Robinson Humphrey STRH - Review - Investment BankingPeople are very geniune and get along well with each other. Training for new analysts is very fun and informative.. Not as "impressive" to the outside world since it is investment banking in Atlanta. Some groups treated better than others...
Jefferies & Company - Review - GeneralistLearning a lot, big exposure to the industry, lean deal team. The boss takes care of his bankers as long as we get the work done. great culture. Obviously just like any other banks, long hours are the death of IB. No sadness specifically related to my bank only. Support group (HR, IT ) could do bett...
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Macquarie CapitalHello, Could anyone offers some insights into Macquarie Capital, some pros about the company, some company specific things (i.e. corporate culture) that perhaps it does differently than its competitors. I know that Macquarie is a MM firm, and is big on restructuring. Tried doing some research, but ...
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Bank below par debt repurchase accountingDear WSO, I am currently looking into banks accounting and would like to understand how banks' repurchase of their own debt would be accounted on their financial statements. For example, a bank has a 500m bond outstanding trading at 80 on the dollar, what would happen if the bank repurchases all o...
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Citigroup - Review - Investment BankingGood culture, increased responsibility after demonstrating good results. Invited to come along to meetings with clients. Long hours as usual, have to learn the politics of the office and imposed networking. Unclear about hierarchy and priorities on assignments...
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Top Consumer Retail Investment Banking GroupsInterested in this industry. What are the top banks (BB and boutiques) in consumer retail? It seems that the forums agree that BAML and Barclays have great C&R groups....
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Discount Dividend ModelWith the dividend discount model, the formula is share price = dividend of share/(discount rate - dividend growth rate). I had no idea what discount rate you would use. Would you use cost of equity? Given that stocks are equity....
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SunTrust Robinson Humphrey STRH - Review - Technology, Media and Telecom (TMT)*Culture around bank is generally good *Compensation is in line with the street while most employees are located outside of New York. * Senior management a little out of touch * No form of protected hours so while some groups have great work/life balance, others are slaveshops ...
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Should the possibility of a recession be considered in going for Rx vs. traditional coverage?In the event of a recession in the next few years, which seems very possible to me, wouldn't restructuring groups experience more deal flow and have much greater job security than traditional IB? ...
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IBD: M&A vs. Capital Markets Post-MBAHi all, I'm about to start an MBA (M7 - Finance Oriented School) and considering applying for an associate internship in banking next summer but have some questions. Looking at the different parts of banking I think I am more interested in capital markets (particularly DCM) than M&A: the type of w...
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Calculating the cost of equity using swap as a proxyHello everyone The other day I was talking with the analyst of my group and he said that he had read elsewhere that you could calculate the cost of equity for the wacc using the 10Y Swap price the company was paying on it. I don't think it makes sense - neither does he - but wanted to know if some ...
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How Much Does Networking Matter Once You Get to a Superday?As the title suggests, how much networking should you continue to do once you get invited to a super day? Obviously, you can never network too much, but I am wondering if at this point it would be better for me to focus on preparing for technicals/behaviorals rather than continuing to reach out to a...
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How is a DCF based on assumptions?I understand how to walk through a DCF and I know that one of the cons of a DCF is that it is based on assumptions. But what are the assumptions? All of the things you need to find have formulas for example, FCF, WACC, Terminal value, EV. I don't get what is being assumed. ...
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Intern goodbye email tips to end on a good noteIs there a best way to go about doing these? I hope to maybe work here down the road and keep up the relationships I've made with the employees at the firm. Do you guys think individual emails or mass emails are best?...
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FinTech Companies Could Soon Be Competing With Investment BanksHi everybody, I stumbled upon an article, which states that the government is working on legislation to allow "online lenders and payment companies" to expand and provide banking services. The article mentions the rapidly expanding companies Square and Coinbase are pushing for this legislation, alth...
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Is it easy to transfer from an IB in a small European city to London?I am a postgrad who is trying to start a career in IB. Let's say that i could have a good chance to get a job in IB (like Citi, MorStan) in Eastern Europe. Or i could stay in London and find some other jobs. Plus i am not an EU citizen. So i would like ask if there is any chance that after working ...
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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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SA 2019 Recruitment timeline for Canadian undergrads to USHi WSO, I'm a sophomore currently attending a top target in Canada for US EB/PE/BBs. From speaking to alumni and current juniors going into their summers in the US right now, I haven't been able to establish a clear timeline of recruitment for firms like HL, Mo, EVR, GS. I have been browsing a lot l...
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Barclays Capital - Review - Public FinanceThe team is really good. Not a frat culture, but everyone is really friendly and people want you to succeed. . Long hours can be a drain. That's what's to be expected of banking, so nothing bad there. I wish they bumped up the food stipend from 25 to 30...
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Summer 2018 Citigroup Summer Sophomore Leadership Program Hey guys, I just got an e-mail from Citigroup replying to my submitted application for the Sophomore Summer Leadership Program. It is just asking "to preference your business line of interest." I'm assuming the fact that I got an e-mail back is a good thing. Did a lot of people get this, or is th...
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Goldman Sachs - Review - Investment BankingThe company had strong deal flow, solid culture, and gave interns good exposure to large transactions from day one.. The firm gave pretty minimal exposure to senior staff with the culture creating great distance between junior and senior levels....

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