Silver BananaTopicReplies
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2017 IB League Tables by 10k FilingsI thought it would be fun to look at 2017 league tables reported investment banking fees in 10k for 10k filers. I'm sure I missed a 10k filer but here is the list (in billions): 1. Goldman Sachs $7,371 2. JP Morgan $7,248 3. Bank of America 6,011 4. Morgan Stanley 5,537 5. Citigroup 4,404 6. Wells ...
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Southern Investment Banking pay vs NYC payHello I am a senior and looking into colleges and I have spiked an interest in investment banking. I was looking into some southern schools and was wondering how much of a pay difference is there for ib in a place like Atlanta or Houston or Charlotte compared to nyc or San Francisco pay. Also I unde...
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BNP Paribas - Interview - Equity Capital MarketsMy application was for an ECM position. Product questions : -What is an IPO and how does it work ? -Give me an example of an IPO realized by our bank lately. -Was it a success or failure ? -What is a capital increase ? How does it work ? When do you want to realize a capital increase ? What are the ...
JP Morgan Securities - Interview - Risk ManagementFor the hirevue, it was basically give me a pitch about something important to you, working in a diverse team, and leadership (so behavioral). I got a MD for the video interview and he asked pretty basic questions like tell me about yourself, why JP/risk, asked for current events example (tell me ab...
Wells Fargo and Company - Interview - Mergers and AcquisitionsThere weren't any questions that were overly difficult. A lot of questions were similar to the ones asked in the WSO technical prep guide. What is goodwill? Goodwill is an asset that shows what was paid for an acquisition over its fair market value. What ways can you value a company? DCF, LBO, comp...
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Help, is IB a Career Worth Pursuing Out of College?I'm a 2nd-year Finance student at a top 30 Business School in the Twin Cities (Nothing close to Ivy-worthy). I'm near the point where I need to decide on a career path, does anyone have any advice on pursuing IB, Public Accounting at the Big 4, Consulting, or Corporate Finance? I need some career ad...
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Ranking Fall Sophomore Internship OffersI'm an incoming Sophomore looking to break into investment banking. I attend a non-target in a small city and had a solid ER internship during my Freshman year. For this fall semester, I have four potential internship opportunities. I have interviews or offers with each of them. I'm hoping to get so...
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Piper Jaffray Superday IBD 2019Monkeys, Can anyone provide insight regarding superday interviews at PJC? This is my first superday for a MM bank, and I was curious to know if I should focus more on technicals, or on behavioral as I am getting mixed responses. My first round was solely behavioral. Appreciate the help!...
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Financial Modelling (eduCBA v Wall Street Prep v BIWSDoes anyone has experience taking financial modelling courses from eduCBA? How does it compare to Wall St Prep and BIWS? ...
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Evercore - Review - Investment BankingGreat company to work for. Good people and collaborative culture. Impressive senior management and learning opportunities.. Long work hours are as to be expected in the industry. Unpredictable schedule are the norm in Investment Banking....
Evercore - Review - Investment BankingGreat company culture and nice people. Free snacks. Small deal teams, best training and good deal and learning experience.. Long work hours and unpredictable schedule which is as to be expected in the industry. Other than that no cons....
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Global sustainable development and investment banking!??There is this pretty new course at warwick for undergraduation called Economic studies and Global Sustainable development.There is no concrete feedback available at the moment for this course as it was started in 2016 but do you guys think this course can offer a chance for breaking into investment ...
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JP Morgan Securities - Interview - Generalistyou are now bound to the current, present, discernible reality. No longer letting sorrow and grief hold you back from getting on with the realities and obligations of life. While you have tremendous compassion, sensitivity and psychic ability, you have to focus on the here and now. Becoming an appre...
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Citi Bank Public Finance1.) How is this different from Investment Banking Summer Analyst 2.) What is the intern pay? 3.) What do they ask you in the interview?...
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IB Application --> S&T Interview Offer. What happened? Should I go for it knowing nothing at all about S&T?Hi Monkeys, I am a Junior at a non-target. I recently sent in an IB SA app and got a interview offer for S&T instead. Anyone know what the reason behind this might be? For instance, did my app get passed off to the S&T team? Should I ask the recruiter or is this a pretty standard practice that doe...
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Seo Edge Screen ProcessI have a phone screen process this upcoming weekend for SEO Career (Edge) for investment banking and wanted to know a bit more about what I should expect. Anyone know anything about the phone screen process? What type of questions should I expect? Just behavioral or technical or both? ...
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Wells Fargo and Company - Review - Leveraged FinanceHappy with the recruiting process. Cannot speak to the actual internship experience as of yet. Looking forward to it though.. Low prestige for the bank. Only their LevFin group is respected, everything else is treated like trash....
Barclays Capital - Interview - Investment BankingI was given a case study that consisted of analyzing an income statement and a statement of cash flows. I needed to derive the companies high debt ratio, and how the company could raise more debt by employing their "Cash EBITDA" which is adding the deferred revenue numbers to EBITDA, which can be do...
Midtown Partners - Interview - GeneralistA large number of standard behavioral questions and situational questions were asked by the senior interviewers (what are you looking to get out of this internship, would you be content with building marketing materials) interspersed with standard basic technical questions such as (walk me through t...
Piper Jaffray - Review - Investment BankingI had a very good time interning in NYC. Fortunate enough to work on 2 live deals while I was there.. Nothing really to report here. Hours weren't outrageous and all senior members of the team were inclusive and friendly....
Cain Brothers - Review - Investment BankingGood culture, good hours, high deal flow, very little pitching as MD's have close relationships with clients. Pay is a little below market, exit opportunities for analysts are limited to middle/low market PE firms...
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You don't know anything— 5 things to do about itThroughout my career I was constantly reminded of how little I knew. When I interviewed for the job at Goldman Sachs, as a finance major writing a thesis on option pricing and having interned at JP Morgan, I thought I knew the job. But when I started I realized I didn't know anything. On the fir...
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2019 LONDON SA UpdatesSeeing there are now 2 Whatsapp chats (which are full and almost full, respectively) comprised of London-only applicants for Investment Banking Summer Analyst internships, a forum helps all of us communicate general updates on application timelines, updates, advice, interview experiences, etc. Feel...
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Asset write down/up -- DTA and DTLThese are the explanations for DTA/DTL creation from asset write-up/down. Is the explanation for asset write-down & DTA correct? - Asset write-up, which increases depreciation/ decreases pre-tax income on the IS (save on taxes), will produce a DTL. - Asset write-down, which increases pre-tax incom...
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Rising junior with no internship experience. Please help!I feel like I really fucked my life up so I'd really appreciate any help. I have a 3.6 GPA from a HYP school, with a major in History. My freshman summer, I stupidly just traveled over this summer and didn't do that much. And then when I was a rising sophomore, I'm not sure what I was thinking, b...
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Société Générale - Interview - Prime BrokerageI think the overall experiences was not difficult and you got an opportunity to know better about the group. Rather than to say it was an interview, I felt it was more like a information interview with both sides. They got to know me better to figure out whether I am a good fit and I also got to kno...
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Anyone know who is heading up the blockchain team at BlackRock?I'm looking everywhere but can't seem to find the person leading this new blockchain focused team at BlackRock. Anyone with a better search resource then me have access to this information? Thanks team!...
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Wells Fargo Industry and Product Groups by LocationI have tried to search the web for this and have been unable to get much insight. There was a post a few years back on here, but only one comment. Anyone know the locations of Wells Fargo's IB Industry and Product Groups? ...
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2019 FT Evercore SuperdayHey guys, wanted to have some insight about Evercore Superday process especially for Full Time. Got a superday invite for next week and was wondering if it'd be more/less technical than first rounds? Would there be deal-specific market based questions? The time allotted is also 4 hours so interested...
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JPMorgan Chase - Review - Investment Bankingflat team structure, good benefit and interesting deals. work on very small deal team such that you get a lot of exposure to all kind of things. our group pay slightly under market. the area we invest in is too niche so the exit opportunity is not to good...
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Training the street @ boutiquesI am a rising sr interning this summer at Evercore/BX/Laz/HLHZ and wanted to know how Training the Street works? What exactly do they go over etc? Just want to be informed/prepared before training starts. Thnx ...
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If 100 of us built a model, would any two be the same?If I asked 100 analysts on this site to do a DCF model for any given company, would any two models yield the same share price? How far off do you think any two models could be? How would we know which one was better (without the benefit of hindsight)?...
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Investment Banks in MadridI obviously know about Alantra, but what are the main Investment Banks operating in Madrid? And any Boutiques you know about that are relevant? That would be pretty cool to know Thx...
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Lazard - Interview - Investment BankingEvery question was relatively simple, just basic "tell me about yourself/why you think you will be a good fit" type questions. Since this was a convertibles group, don't focus on traditional accounting and valuation Vault questions. Look at convertibles, options, and bond valuation instead. * Why...
Goldman Sachs - Interview - Investment ResearchThe hardest part about interviews in general in finance is faking it til you make it. I applied to 3 divisions even though I really wanted Investment Management so when it came down to the Research interview, it was hard to come off as really wanting research. It needs to seem like you're genuinely ...
Piper Jaffray - Interview - N/AThere were not many technical questions. One interviewer during the superday will ask you a bunch of them, but if you studied there is nothing really challenging. Majority of the questions are fit based/behaviorals/situationals so make sure to prep 6-8 stories that can be varied slightly to give exa...
Morgan Stanley - Interview - OperationsI didn't see many unexpected or technical questions during the interview. I think the most difficult one might be "Describe the most complicated group project, did you met any difficulties, how did you handle, and what's the outcome. Also he asked 'Why do you want to work Morgan Stanley? We took mos...
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Bulge Bracket Fact SheetCould somebody please make a bulleted list of all of the bulge bracket banks and include the core competencies for each bank at what they're best at? This would be to everyone's benefit who wants to learn the "scoop" on each of the big players...
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What is Corporate & Investment Bank Global Treasury Management at JPM?Is this FO or BO? It is listed under Corporate and Investment Bank on the jobs search page, but it sounds more like a supporting function role. You help clients manage cash, currency, and supply chains. That still sounds very vague to me. Could anyone tell me more about the role, like the responsibi...
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Natixis - Interview - Leveraged Finance- What is a financial due diligence? What's inside? Its purpose? - What makes a good LBO target? and examples - Restatements of EBITDA and adjusted EBITDA - Questions about specific deals: why is it a good target? What's the closing LR? What's the evolution of sales? The evolution of EBITDA margins?...
Citigroup - Review - Investment BankingGood culture, thoughtful MDs and a lot of deal flow. Best place for experience and ability to choose your path.. Hours are really long, more than other banks on the street. Management can take advantage of you if you are good....
Founders Investment Banking - Review - Mergers and AcquisitionsGreat culture with friendly staff. Hours are very decent given the industry. Deal flow is picking up. . Small deal size, pay isn’t great comparatively. Equipment and subscriptions are lacking in most regards. ...
HSBC - Review - Investment BankingGreat people, great culture, everyone willing to help out. People like to have fun and encourage you to maintain a good work life balance. Nothing really. Only thing is I wish sophomores had been given some more formal training before starting the program...
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Prep for Capital Markets position case studyHey Monkeys, I have a Case study coming up for an equity markets analyst position I have applied for. I would like to make sure I am preparing the best I can. I am practicing my modeling and reading on the companies prior transactions. If anyone has any tips on prepping for a case study interview ...
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Morgan Stanley - Review - Investment BankingStrong culture, open to recruiting for buyside jobs, strong reputation and placement in PE, focus on integrity. No protected weekends (this is a HUGE deal), you don’t get to expense late night meals in addition to dinner (I heard JPM allowed this)...
JPMorgan Chase - Interview - N/Aall question is very standard as i still waiting for next round will update it afteras i still waiting for next round will update it afteras i still waiting for next round will update it afteras i still waiting for next round will update it afteras i still waiting for next round will update it afte...
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How is oppenheimer IBHow is Oppenheimer IB for full time? Is it worth it to do banking here? kdlsjfldskjflkdsj flkdsj flkdsj flkds...
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Houlihan Lokey - Top Groups (Chicago Office)Besides Restructuring, what are HL's top groups in the Chicago office? Thanks for your input/ help. ...
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2019 Full Time Offers: Salary & Sign-on BonusThere has been some whispers floating around that street pay is increasing to 95K either this year or next. I thought a new thread was needed to help those who are about to sign FT offers for next year. Traditional "street pay" from what I understand is still 85K + 10K sign-on bonus. Some banks vary...
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Goldman August SuperdayJust got invited to a Goldman Superday for August in the details it's only an hour long which seems short to me. How many interviews are they usually? If its only an hour it seems like their is only two. ...
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Jefferies & Company - Review - IndustrialsNot many. Good group of guys at the analyst level but associates / VPs difficult to work with. Annual ski trip customary, although juniors work throughout the trip.. General lack of respect, poor technical training relative to other banks, depravity of outsourcing relative to other banks leads to lo...
Morgan Stanley - Interview - Private Wealth ManagementThere weren't too many difficult questions. A lot of them were things such as, tell me about yourself and what do you do for fun. All entirely behavioral. The hardest question I thought was tell me about yourself because that's such a loaded question and next time I will not go to the interview unpr...
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Deloitte Application Deadline Does anyone know when the 2019 Deloitte SA application deadline is? I have looked all over their website and cannot find it. Thanks! Can be for San Fran, Chi, or Charlotte....
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Lateral Recruiting - IB Associate at EB / BBHow long does it take to hear back after final round for lateral associate roles? Is it typically as quick as undergrad / analyst recruiting (1-3 days after the final round) or does it take much longer? Also, would they just delay the process for the heck of it (making you want it more, etc) or is i...
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2019 Full-time ANALYST EVERCOREGuys please post here for first round invites for fulltime that should be out this week. ...
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JP Morgan Securities - Review - Corporate BankingGreat team that has fun during work but gets things done at the same time. Management is supportive and everyone is talented.. Some times hours can really kick up when deals come around, but I guess that is to be expected of banking....
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UBS NY Exit Opps With UBS rebuilding its brand in the US, what sorts of exit opps are there for UBS bankers? Do UBS people exit to PE? ...
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Société Générale - Interview - Investment BankingOne guy asked a bunch of brain teasers because he had done math undergrad and doubted that our econ program was quantitative. There was the classic goat and three doors problem (it's a probability thing) so look that up if you aren't familiar. They do a lot of project finance and E&P so there was an...
SunTrust Robinson Humphrey STRH - Interview - Investment BankingIf there is a $10 increase to depreciation, what are the effects on the three financial statements? Name and briefly describe three valuation methodologies. Which methodologies tend to range higher and which ones lower? Which multiples would we typically use to value companies? What are some pieces...
Deutsche Bank - Interview - GeneralistPretty basic.. Asked about P/E, DCF model questions, valuation questions (enterprise/equity value) of a company with specific questions about a certain company. Seemed like there was a list of questions they asked so they were all standard questions with no tricky ones. Got the walk me through a DCF...
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Petrie Partners - Houston, TX?Anybody know anything about this firm? They visited my school a while back and seemed pretty solid for being so new. Any input would be great. I'd love to know more about them before fall recruitment. ...
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Rothschild - Interview - Investment BankingBehavrioals were all very straightforward--tell me about yourself, what do you know about banking/analyst role, why Rothschild. Valuation was a little difficult--they definitely expected you to know specifics of LBO/DCF. Was asked directly whether an LBO has higher or lower valuation. But the interv...
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CS SA 2019 IBD Offer DecisionI recently got a generalist offer from CS IBCM for 2019 SA program. My deadline is looking like it's before other banks I'm interested in are having their superdays, but I'm hopeful that I can land interviews at other banks. Any thoughts on the outlook of CS IB for the next few years? How favorably ...
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Share CountHi, fellow monkeys! I have several questions on the very basic matters that I am confused with. Let's imagine there is Company A with 900 shares *On issue by the end of 2017* (a figure displayaed in Annual Report). Also I know that Company A acquired 100 of its own shares (i.e. they became Treasur...
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BAML Palo Alto Office - Recent Thoughts?Does anyone have any updated thoughts on BAML's Palo Alto office? The few threads floating on here about it are pretty mixed - there's one from 2012 that's super negative and one from 2015 that's decently positive. I know it's not MS/GS/Q, but how does it stack up to JPM/CS/Other BB/EB tech groups...
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Lateral BB Move - “Early” Promotion? Please help! Currently at a BB - just entered 3rd analyst year and got an offer from another BB (same tier). They are offering me a position as senior analyst. However, I think given turnover in the market, recent accelerated programmes at banks and several cases I’ve seen where people were bumped up by a year...
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Moelis NYC vs SF vs LAReally interested in any insights/info you guys have into the different offices and what could potentially be the best opportunity. Also ranking them 1-3 would be helpful if possible. Thanks...
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Tudor Pickering Holt and Co - Review - Investment BankingTPH has great deal flow and the senior bankers are very knowledgeable. Also as an analyst I have great access to clients.. I work a lot. Every Sunday is a given and a lot of weeks its Saturday too. Did I mention I work too much?...
Harris Williams & Co. - Interview - Mergers and AcquisitionsThey asked me about previous transactions. I just missed this one. The other question had to do with saying you have a company that sells baseball bats. How might you go about finding an acquirer? This was interesting as I was not expecting a question that would ask about non-analyst-task questions....
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Which MM offer should I choose?Which firm should I choose if my goal is vc / growth Equity? One of the lesser known TMT Boutiques (Arma, CODE, STRATA, Torch, Stella EOC, Bryan Garnier & Co, Mooreland etc.) or go with a known MM firms where I will probably be in a "generalist" team (Lincoln, Baird, DC, Harris Williams etc.) This...
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Golub CapitalThoughts on lev fin on Golub, CIT and Antares? I know MM, but is it a good spot to start out at? Comp, exit opps etc...
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GS 2019 New Analyst UKHas anybody heard anything or had a response to their application yet? If so what was required for the next stage?...
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When is full time recruiting?Since the recruiting for SA has been moved up (basically starting March 2018 for Summer 2019). Will that push up the recruiting timeline for full time positions? Just wondering if I’ll be applying to FT positions (2020) before I even start my summer (2019) internship......
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Credit Suisse - Interview - Investment BankingFirst round: Pitch me a stock and then tell me the main risks to it. What does it mean to you to be a leader? What type of leader are you? Second round: Tell me about a time you broke a rule. Tell me about a time you failed. Asked very technical questions based on listed deal experience in resume. ...
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CITI IBD Summer Analyst 2019 Assessment Does anyone know what are the questions that CITI asks in their assessment exam? Are they all behavioral? Also, what are the next steps after the assessment is submitted? ...
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Calculation of Net DebtHere is something I can't wrap my mind around - how come Accounts Payable, Other Short-term Liabilities and Long-term liabilities are not considered "debt" in arriving at the Net Debt amount? ...
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Attempting to Move to Specialty Investment BankGood Afternoon Fellow WSO Users, I'll start of with some personal background: I began my college career as a computer science major who was invested in gaining experience and networking throughout campus. I went to a non-target private university in Connecticut, and by the end of my sophmore year ...
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Bankers who review Hirevue interviews - funniest ones you've come across?senior monkeys - any interesting stories to share from when you're going through these video interviews?...
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William Blair vs Harris WilliamsDoes anyone have thoughts on which of these banks they'd pick if they had offers at both? I liked the location of Blair (Chicago) more and got on a bit better with the people. The people at HW were cool though; Richmond is dirt cheap and it seems like they'll basically drag you into MM PE...
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JMP Group - Interview - HealthcareModeling difficulty was unexpected. Excel technical was very hard. Had to know conditional sum and count really well to even make a dent into the exam. Had to get the sum and counts of conditions from a large data excel sheet. Really need to understand your index and match functions and must be abl...

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