Silver BananaTopicReplies
Barclays Capital - Review - GeneralistGood culture, seems like edits are not like other firms. Deal flow varies by group. Some groups are also sweatshops . Exit oops and deal flow is poor in some group. Power is best group on the street. Focus on doing well for a return offer...
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IB Networking & Deal SourceingI’m 26 years old and I live in San Francisco and just joined a new company back in July. We’re a boutique IB that focuses on debt transaction between 5-75mm in the form of traditional ABL, DIP financing, mezz, restructuring, bridge and some sell-side advisory (very small part of Business ~5%). B...
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Does withdrawing from a class hurt my IB/business school chances? Should I retake later?Background: I am a sophomore at an Ivy League college with a 3.6 GPA. This term, I am taking microeconomics with multivariable calculus, which is one of the hardest economics courses at my school. I just took a midterm and am really worried that I bombed it. Depending on how badly I did, I might con...
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How does the seller get paid in a LBO - technically speakingprobably a stupid question, but i can't seem to understand the mechanics behind an LBO. Let's say that the Target company raises debt and equity, and has some cash in its balance sheet. Now the seller need to exchange his shares of the target against the agreed upon price. As I understand it, he sh...
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Valuation of E&P Petrochemical ReportHow would you value a start-up E&P company that has produced nothing more than a petrochemical report?...
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Interview - Full time Analyst: What kind of Technicals? (IBD BAML) Hey guys, I only had interviews for internships up until now. So any one here that wants to share how an analyst interview differs? More specifically what kind of technical questions do they ask? I assume it will be more than the standard "Explain a DCF? Why is re>rd? ... " In this case it wil...
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Goldman Sachs - Review - RiskGood Brand name, Really smart co workers internal mobility friendly independence in projects Good comp. no bad thing as such, but sometimes you get stuck in really boring projects and can't really do anything about it...
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Return rate for Sophomore IBD SA at GS/MS/JPMHey guys, I go to a lower-tier target that has almost no representation at this one bank in particular (one of GS/MS/JPM) and I recently accepted an offer for 2019 sophomore SA in NY IBD after attending their superday. I am in shock still because this was my second Superday ever, the full extent of ...
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Why is insider trading illegal?It doesn't seem to harm anyone; yes it gives an unfair advantage to those in the know but since the market isn't zero sum it's not like the avg investor is getting screwed by a connected hedge fund manager. Unfairness that doesn't hurt anyone should not be illegal imho Or am I missing an important ...
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JPMorgan Chase - Review - Leveraged FinanceThe firm's culture is very good. Everyone I work with is very supportive and committed to seeing all the juniors grow. . The deal flow is light at times. There will be times where you are just sitting there doing nothing (i.e. reading the WSJ, the Economist, etc.). Worried that facetime is important...
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Career path to break into IB in the US as a foreignerI was born and raised in Seoul, South Korea. (Aside from studying in the states for 3 years for language training when I was in elementary school) I completed my internship at one of the top, yet, local IB here in Korea and was offered a full time offer which I accepted and is expected to start wor...
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Post IB Exit opps —> Maranon CapitalPosted this in the PE thread already, but curious as to see if anyone has any insight into the Maranon Capital analyst/associate program, seems like a solid shop that invests throughout the whole capital structure (senior/mezz/equity). Currently a 1st year analyst in the LevFin group at a BB and see...
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BB Cap Markets --> IBCan anyone tell me difficulty of moving from BB cap markets to IBD? Trying to make a job decision...
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Berenberg Bank - Review - Generalistgood people, drinks, corporate events. work engaing, kept busy, lots of other grads, good, big clients . long hours, pay not great in first year as no bonus but this is a consequence of a generalist programme...
Goldman Sachs - Review - Equity ResearchGreat pay culture teamwork colleague sLong hours large organization Great pay culture teamwork colleague sLong hours large organization . Long hours large organization Great pay culture teamwork colleague sLong hours large organization Great pay culture teamwork colleague sLong hours large organizat...
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Stout IBAnyone know anything about Stout IB? (most articles seem to be outdated or focused on their valuation team) Particularly interested in their LA office...
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EB vs. BB for Career Banker?For an A2A or MBA Associate, what type of firm does it make sense to be at and why? My understanding is that pay will be better at an EB, but it might be easier to win clients and / or take over someone's book at a BB....
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Houlihan Lokey - Review - Investment Banking- Good work / life balance, comparatively - Flat structure and lean deal teams; analysts get great experience - Actually a decent amount of travel for junior bankers, which can be fun. - Occasionally chase small deals - Little to no delineation in the effort required from the junior team for a $50M ...
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Shift from law to IB in IndiaCurrently a 5th (Final) year student at a top Law University (pursuing LLB) in India writing CFA L1 (Dec) this year, have previously interned with Deutsche (as an analyst intern in DCM, but mostly did Legal work like drafting agreements). The internship didn't translate into a job because headcount ...
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MUFG - Review - Corporate BankingWork life balance, responsibility as a junior employee, solid benefits, opportunity to grow if part of global analyst program. Restructuring, heavily process oriented culture, lots of tenured employees, lack of traditional Wall Street prestige...
Morgan Stanley - Review - Investment BankingI would say the overall experience is a happy one. i receive decent pay and I have work-life balance.. The sad part is the long hours and lack of flexibility. There is unavoidable if you want to work in IBD....
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Sweat Equity or Not?Hi All, I am currently advising a leading real estate group in the student housing business (the "Group") , and the owner of the company is very pleased with my services that he decided to give be a 3% success fee on the equity I raise (he plans to sell majority of his company). During the capital ...
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Summer Analyst Salary 2019? Hey, yes there are already some threads on this but the most recent I looked in had pretty strange numbers in it, I don´t think they are anywhere near close. The only reason why I´m interested in what the banks pay (or if they pay anything) is that I have to plan everything for next summer (als...
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PJT v. MS v. JPM SA 2019 (London)Hey guys, I'm looking for opinions/insights on PJT vs. MS vs. JPM in London. Any input will be much appreciated – especially re. hours and culture. Thanks in advance!...
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MS London Earlybird Programhi guys have you got any feedback or updates for Morgan Stanley Earlybird Program for any position??? Do you know when candidates will receive telephone interview AC invitations or HireVue interview invitations? Thanks!!!!! ...
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Landing on top IB firms from second tier firmsHi, Looking for some advice regarding my career path from all intelligent fellows in WSO. Let me briefly go over what I have been through. After graduation from uni with communications major, I started my career as a relationship manager in the corporate banking side and had spent two and a half y...
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Deutsche Bank - Review - Leveraged FinanceI love DB because the people there are great and very collaborative. Besides the work environment, I love what I am doing.. The hours are hard, especially as a summer intern and as this is new to me. I love what I do, so the hours are not too much of an issue....
HSBC - Review - Investment Bankinghigh pay and you will receive some special early time off for your personal time. you will also got the medical cover for the company. long working hour. you may need to work till 3 am in most of the day and you may also need to work over the weekend. There is no any OT claim for your over-time work...
Cowen Group - Interview - Investment BankingIt was hard for me b/c I was interviewing for a specific group and I didn't really have a nuanced story/background. Why HC? Why Cowen? I hadn't networked enough before so my answer was probably generic. Tell me about a specific healthcare deal and why you were interested in the space / what you lea...
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Background/reference check for returning FT analysts?If I'm a returning FT analyst to a bank I interned with, do they usually make you go through the whole background and reference check process again?...
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Let go from semester internshipI was let go just about a month into my fall internship at a boutique in the financial services industry (was supposed to run a bit into spring semester) because my interviews kept falling on my work days and I had to ask to leave early/come later to make the interviews and was told my schedule will...
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2018 FT Roommate Thread (NYC)Per forum title, looking for potential roommates for a summer 2018 start. Please PM with some details about yourself. Thanks....
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UBS SUPERDAY 10/18For anyone in the UBS superday today, have you heard back yet? Heard they usually get back to candidates pretty soon, so I'm sweatin'. PM Me if you were ....
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Demise of BAML? I’m sure you have seen it. Articles everywhere the past few days including WSJ and FT. BAML falling in league tables, bankers leaving constantly, bad hierarchy and no autonomy, etc. Thoughts? Would you be happy going to BAML while this is going on? Discuss ...
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Bank of Nova Scotia - Interview - Investment BankingNone were too difficult, it consisted of technical and behavioral questions. The technicals were fairly standard ranging from walk me through a DCF, to explaining other valuation methods commonly used in Investment Banking. Then general market and deal knowledge was also tested. Behaviorals consis...
Financial Technology Partners - Interview - Mergers and AcquisitionsTell me about accretion dilution analysis? What are the recent industry trends in Fintech ? How to value a company with negative net income and negative Ebitda? What could be the reason that sometimes a company could have positive EBITDA but negative cashflow? How to set up a public comparables anal...
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Comprehensive list of BB IBD Open Positions for Students & Graduates for 2018, 2019 & 2020We put together a list of all the open applications for current students and recent graduates (undergrad & MBA) for bulge bracket banks. It's a bit of a pain to weed through each bank's site, so we thought this might help. Cheers! You can find the list at [http://www.iworkonwallstreet.com](http://...
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William Blair - Review - Technology- Midwestern laid back nice people - Dig into company operations - Powerpoint skills are emphasized and learned here. - Very little technical experience - No mentorship - Only sell-side mandates - Not open to PE recruiting...
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Following-Up After First RoundHey guys, After a first-round investment banking interview, do you think it's necessary to follow up? Just to send an email thanking the interviewer for taking the time. Or is it a bit repetitive given that you just interviewed with them. Let me know what you guys think!...
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UBS Superday Advice?I have a UBS IB summer analyst superday next Friday, its my first superday and I have a vague idea of what to expect. Any advice and things I should do to prepare? ...
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I'm lost with my internships Hi guys, Lets imagine that you have all these offers, how would you rank it? 1) M&A **large** cap within CACIB (**Paris**, France) 2) M&A **mid** cap within SocGen (**Marseille**, France) Many thanks :)...
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Gleacher Shacklock / Nomura Exit opps (London/Europe)I'm currently recruiting for SA in London and have interviews with both of these firms. I'm just interested in what kind of PE exit opps they offer. Especially in the UK and continental Europe. ...
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Alvarez & Marsal - Review - Mergers and AcquisitionsOpportunities within the firm are the primary driver for my decision to join Alvarez & Marsal ("A&M). The firm offers exposure to high-profile restructurings (Lehman Brothers, HealthSouth, and recently Toys R' Us) and mergers & acquisitions. Although A&M is considered a turnaround/consulting firm,...
UniCredit - Review - Debt Capital MarketsThe working schedule was decent compared to other departments, the team was great and had a nice deal flow. . Trading and DCM are in an old building whereas other departments enjoy a nice office space. HR processes were extremely tedious....
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Summer Associate IB GPAI go to a top 5 business school and I'm recruiting for investment banking. My GPA is a 3.0 right now. Will this hinder me in going after summer associate investment banking positions at a bulge bracket or middle market/boutique? My school implements a Grade Non-disclosure policy too so will banks ev...
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Secured FT offer but don't meet requirements Hi guys, burner account because I know judgement is coming. I am a senior about to graduate, and have accepted a FT offer at MM in IBD. I've done my drug test and full background checks and successfully passed. But I have one unresolved issue.. Im coming from a somewhat unconventional non-targe...
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Canadian Big 5/Globals TimelineHey guys, so I go to a mid-target in Canada (not Queens or Ivey) and am thinking about doing investment banking next summer. Does anyone know when the applications open for the global banks like Morgan Stanley and JP Morgan. If they've already closed I guess I have time until Big 5/MM open (heard it...
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JPMorgan Chase - Review - Investment Banking- Good QoL initiatives that are taken seriously - High responsibility - Good dealflow - Good spirit in the team. Still typical drawbacks of IB entry level jobs, like: - too many iterations on pitch decks etc. as every level from Associate to MD tries to "add" more value - work can be repetitive - ...
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Best industry/product groups for each Canadian Bank?What are the best groups to join within RBC, BMO, CIBC, TD and Scotia? E.g. BMO M&M Best as in the best deal flow....
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JPMorgan CIB Global Treasury Managment InterviewHi, I have an interview with JPM’s CIB Global Treasury Management program. Does anyone know what to expect for an interview for this program. Will there be IB-type technical questions or more behavioural?...
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How to follow up with bankers as a freshmanI am a 1st year at a target and have had many opportunities to network with BB bankers so far; after each event I added the ones I talked had talked to (at least for 10 minutes) on LinkedIn and all of them have so far accepted the invites. What would be the next logical steps? ...
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Is my American Dream Over?Hello You Great Folks, I have spent the entire last decade working on my profile in a developing country and setting myself up to work on Wall Street. Now that I have an admit from a Top 20 US BSchool, I see that the H1B Visa has become a big issue and it is causing me lot of nervousness. I really ...
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Emailing a VP or MDTrying to network with alums from my school. I was wondering: what circumstances would sending the email to the MD or VP, say, do more harm than good? If I do screw up, Would the MD even remember me later on when I go apply or would it just be another annoyance in the sea of othe emails he’ll forg...
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Citigroup - Interview - Investment BankingThe toughest questions are always those that want you to reflect on yourself and show your weaknesses to your employee. The specific question i found to be really tough was the one where they asked me to explain one of my greatest weakness and how it had an impact on me. I think they key to these ki...
Citigroup - Review - Equity Capital MarketsBig platform with strong client coverage in the region. Very diverse group of people in the company given its global mobility.. Too big to make changes fast enough. Hierarchy is quite apparent at senior level. Seniors are too comfortable to try new initiatives / make changes. ...
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Why Would You Not Use a DCF for Financial Institutions?The guide says it's because fin institutions are highly levered and they do not re-invest debt in the business and instead use it to create products. Also, interest is a critical part of a bank's business model and working capital takes up a large part of their balance sheet. What exactly does this...
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M&A for healthcare company?My end goal is investment banking but I went to a pretty low tier academic institution. I have been doing business valuation for a CPA firm for almost a year. I have been approached by a healthcare company for position in their M&A department. They are owned by a PE firm so they have capital to spen...
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commercial bank Anybody who has done the modified discounted dividend model for commercial bank valuation, I would like to ask the following questions 1) Should Deposits drive or determine the Advances or vice versa ? Which one should be projected first ? 2) How should the Terminal value be determined ? For per...
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Goldman Sachs - Review - Investment BankingIncoming intern, so have little to say about this at this moment. Interviews all were a very positive experience. Incoming intern, so have little to say about this at this moment. Interviews all were a very positive experience...
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Exit Opps for Mezzanine Investing Straight Out of Undergrad?I am going into mezz investing (think investment arm for insurance company) directly out of undergrad. To my understanding, the company does sub debt as well as equity co-invest. There is extensive modeling on the job to evaluate returns. I was wondering what would be my chances of getting into PE d...
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KBW-Stifel Updated Rep?Other posts seem to be outdated or prior to the acquisition. Wanted to get opinions on KBW's culture, pay, prestige, exit ops, lateral ops. Any info would be awesome Thanks,...
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SunTrust Robinson Humphrey STRH - Interview - Investment BankingNone of the questions were out in left field. Just know your the 4 major valuation methods and be able to talk about a DCF & LBO in depth. Given the fact that STRH leverages its balance sheet, know about debt repayments and how to value a bond. Other then that pretty behavioral, because fit plays a ...
Deutsche Bank - Review - Investment BankingThe training was great and i liked the fellow analysts. I was able to travel quite a bit on live deals and pitches. . There were no checks and balances on the happiness of people and that is why all the good people left....
Goldman Sachs - Review - Investment BankingGreat place to start a career - very smart and motivated individuals, high standard of work, room for advancement, people who want to see you be good at your job. Long hours and lack of work/life balance. Lack of consideration of time by coworkers, even those not too senior....
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IB, PE, or CorpDevI am currently a high school student looking to go into a career in finance. I've looked at most the options, and I would like to go into IB for the exit opportunities in PE and hedge funds. I know that the hours will be terrible, but is it worth the effort? One of my teachers also suggested corpora...
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2018 Point72 Case CompetitionDid anyone who participated in Point72's 2018 case competition get a notification of their result? My team hasn't gotten any emails yet. Thanks!...
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Rothschild NY Placement DayDoes anyone have insight into Rothschild NY's placement day process for Global Advisory? Interested in learning about the groups, etc. ...
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2019 IB RecruitmentHave struck out in FT recruitment. Any banks still recruiting? secondary options to go lateral into IB?...
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BNP Paribas - Review - Investment BankingThere is a good atmosphere, helpful colleagues, nice and big exposure to deals and senior members of the teams.. Sometimes too much work, not enough training of juniors, lack of modelling skills development perspectives...
JP Morgan Securities - Review - Investment Bankinggood bonus, good working hours not very expensive to live in south africa approachable seniors good exposure . 1. BEE is a major problem 2. foreigners not preferred ( i got lucky) 3. not much modeling exposure 4. corporate broking kind of environment ...
BNP Paribas - Interview - Investment BankingValue drivers for an LBO ? should have asked the interviewer to repeat the question and clarify a little bit further. Answer was mainly around cost of debt and add-on transactions. I was thinking more about operational optimization, dividend recaps or asset sales (which would also impact IRR, MoM). ...
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BAML M&A vs BlackRock PAG?I was fortunate enough to receive offers from these two groups, both with very different opportunities. I have around 24 hours to make a decision, and would greatly appreciate any input. BlackRock (Portfolio Analytics Group) - base is almost 2x as much as BAML, and the work is definitely more techn...
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