Silver BananaTopicReplies
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DB Restructuring: Who Is Safe?As Deutsche announced a “global retreat”, what looks to be the safest spots to be in the bank going forward? Which markets desks and banking groups?...
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FT IB GPA cut-off?Hey all, I'm planning to go for full-time IB recruitment this fall. One issue I have is my sub-par GPA (3.4) for my business degree (+ I go to a semi-target). I'll definitely try to get my GPA higher in my last year of school but recruitment will be over by then so it's pretty pointless.. Currently ...
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Bulge Bracket Gossip - Am I at risk?Hi guys - I am an incoming IB summer analyst for a mid-tier BB in LA and attend a semi-target. I got my offer pretty early in the recruiting cycle for 2018 and therefore did not explore the option of many other banks. The past month I have been reaching out to guys that work at some EBs or other BB...
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Exploding offers for SA 2019 - what to do??Hey guys, I know a lot of people going through something similar right now - with the accelerated recruiting this year, many banks have different timelines... what can we do if we receive an exploding offer from a BB that expires in 2 weeks but haven't been able to interview with any other bank yet...
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AGC Partners - Review - Investment Bankingnice and supportive team , very friendly people, willing to help and answer questions. exposure to client calls and deals/itches. pay is well below industry average. basically doing it for the experience. would be nice if raise the pay...
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Seaport Global SecuritiesDoes anyone know about this firm, or have any opinions? Found them listed on a deal somewhere and was thinking about applying for an internship....
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Centerview Partners - Interview - Mergers and AcquisitionsIn-depth assessment of accounting and valuation - not boilerplate questions. Questions were nuanced and case-based with hypothetical scenarios assessing different transaction structures, financial events, and strategic considerations. Drilled into answers to make sure there was a detailed understand...
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Unlevering and Relevering Beta Vs Modigliani Miller Method (Corporate finance) Hi, Just a quick question--- Suppose there are two firms (A & B) with similar business risks. Risk free rate and Market risk premium are given. I also have Firm B's Levered Beta, Capital Structure, Tax rate and cost of debt. For Firm A, I only have the capital structure, tax rate and cost of debt. G...
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When to leverage offersIn what situations can you leverage an offer to get an accelerated process with another bank? Does it have to be a similar level bank? Or could you leverage a strong industry focused boutique/MM to get EB/BB first round? ...
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Raymond James Financial Inc. - Interview - Mergers and AcquisitionsHad some PE internship experiences so most of my questions were LBO based and my about my thought process during some of the live deals I worked on. Walk me through an LBO? What are five ways to increase IRR? What are the tranches of debt commonly used when LBO'ing a company? Can you give me the ran...
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Goldman Sachs ATL office Anybody know of the culture in Atlanta’s GS Investment Banking office? Would be curious given it seems like it would be a satellite office for them ...
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Piper Jaffray - Review - Public FinanceOpen culture Approachable senior management Great work hard, play hard culture, where we'd go out for drinks after work. Lack of career development Definitely not a place for new junior banker to start, especially in a satellite office...
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BB in the west coast -vs- EB in the east coastI am currently deciding between starting my IB career in either EB in [big city] in the east coast or BB in [big city] in the west coast. Would it be better to start in BB in [big city] in the west coast and try and lateral over to EB in [big city] in the east coast or see if I like the west coast....
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Union Square Advisors: more information on recruiting?Anyone has any ideas about this firm..are they recruiting at all?...
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Citigroup - Review - ComplianceGreat support from other employees, especially veteran people in the unit. Everyone wants you to succeed.. Sometimes the hectic schedule and demands to complete tasks did not allow for as much formalized training and mentorship opportunities as I would have liked....
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BNP Banking? Any good? Seen some job openings at BNP. Was wondering how is it working at BNP in NYC for one of the coverage groups? Specifically TMT and Consumer Culture Comp Hours Anything else to note ...
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Wells Fargo and Company - Review - Investment BankingGood compensation as an intern. Training was efficient. Resources (graphics, printing, etc.) plentiful. . Long hours compared to amount of deal exposure. Office politics are abundant. Too much pitching (inefficient allocation of time)...
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Moelis is a Sweatshop*"Moelis is a sweatshop"* is the lullaby at the 399 Park Avenue bullpen. Given our reputation as a sweatshop, I figured I would add some color to the below email that has been circulating its way across the street to cement our status on the street as a true ex-DLJ legacy shop. In short, if you want...
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2019 FT Analyst Recruiting TimelineHaven't seen a thread on this yet. Since Summer Analyst recruiting has gotten underway, I thought it would be helpful to aggregate any and all information regarding full-time recruiting. So far, being at a major IBD university, I have seen no information. Feel free to pass along info if you have a...
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Fifth Third Securities - Interview - Investment BankingExplain BREXIT's impact on banking in Europe ...
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POLL: Do Most Pitch Decks Suck?After 7 years in IB, I'd say I've seen some client-created pitch decks that were halfway decent. Some. Like 3. The rest, I would say are much more akin to a hot piece of garbage soaked in subway water. Share your own experience & opinions in this poll: https://goo.gl/forms/9d0yHZA3VJPmdtr73...
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Suggestions for topics for master thesisHello! I have one year left of a Master of Finance degree. Over the last two quarters (January-June) I have to write a thesis. I want to work in IB after i graduate so I want to find an IB-related topic. Valuing a company is considered a "standard" topic on my school, and it is often easier to get ...
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Thoughts on current situationI've been wanting to get into IB for some time now, with no luck. Applying to firms and networking. Started out in Big 4 and transitioned over to a large global bank, working in a corporate audit function. I don't really want to go do a 2-year MBA due to adding $200k in debt. Plus I'm not sure of my...
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Evercore Restructuring InterviewFolks - anyone interviewed with Evercore's restructuring group recently? Are they recruiting? I heard they did some phone screens. How was the experience and what kind of questions did they target? Any help will be extremely appreciated!...
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Military to investment banking transition(Enlisted Version)Hello Everyone! This is my first time posting on this forum but I have been reading around for quite some time(since High School), and I have a few questions that maybe some of you with prior experience could help me get a better grasp on. Just for some background, I am currently a 22 year old wit...
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Core finance role in indiaHi, i graduated with master's degree in finance on April 2017(from tier 3 college) I got my first job in a top asian investment bank in financial control division. I accepted the offer because of 2 reasons. 1)hoping to switch to a core finance role such as IB or "equity research". 2) i did not wan...
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Venture Capital / Growth Equity PipelineHey Everyone, I was wondering if anyone had insight into the recruiting process for vc/ge equity firms out of banking. I'm not entirely sure how it works or if there is even a specific path or pipeline. I understand that growth equity recruiting works somewhat like traditional pe recruiting but I've...
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How should i prove myself? My story about motivation and how to proceed.Hello, This is my first post her on WSO. I have been shadowing threads here for a year but I figured out it is time to reach out for advice. My story: I graduated from a MSF programme this past June. Ever since I started my bachelor degree I had my initial goal set for the aviation industry and I...
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Greenhill 2019 SA SuperdayHas anyone heard back for Greenhill & Co. 2019 IBD Superday? Heard they would start doing them soon. ...
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Depressing Moelis & Co. Staffer EmailSo this email has been making the rounds all day and it was sent by an NYC Moelis Staffer to all the analysts at the office after finding out that many of them weren't in the office at 2AM. Each number listed was crossed out to maintain confidentiality. "---- Subject: Tonight Team, I just walked t...
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Barclays Capital - Interview - GeneralistSince you are very interested in media/cultural industry, try to give a valuation about XXX (a big name in journalism). Detail the methodology you will use and list out the driving factors for profits/losses. Since you are very interested in media/cultural industry, try to give a valuation about XXX...
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Goldman Sachs - Interview - Investment BankingI think the most difficult for me is how do you ensure inclusions within team. Did not prepared for that one because I thought it is already included in 'how well do you incorporate team-spirit in your previous projects'. The question is hard to answer because inevitably there are certain barriers i...
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Best PowerPoint PluginsHello WSO - I tried searching for this but was unable to find an exact match for my question. My question isn't "what are your favorite PowerPoint shortcuts" but rather what are some of your favorite downloadable PowerPoint plugins? I'm trying to find a few that might improve productivity. Seems li...
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Elite Boutique Hours & CultureHave offers from a few of the listed boutiques: Lazard Greenhill Evercore HLHZ Perella Weinberg Would be interested in the hours and overall work culture/environment at these firms. Thanks....
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Evercore now has the largest IBD franchise among the independentsI've been following closely the first quarter results of all the banks to gauge their respective performances. Surprisingly, I found that Evercore now has the largest investment banking franchise, surpassing the usual Lazard and Rothschild (apparently since 2016). Maybe it's just me but this is just...
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GS SA 2019 HirevueHey everyone, just wanted to know if anyone's heard back yet for the accelerated process for GS IBD. I applied a week ago and still waiting for the Hirevue. Does anyone have more info about their process?...
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Morgan Stanley - Interview - Investment Banking1.What's the most desirable capital structure? 2.some situational behavior questions like what would you do if your associate gives you a task and asks you to finish it in one hour but at the same time you are working on an assignment for VP on another project? I gave my answer but he pushed me wit...
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Criteria for Choosing Summer Analysts after SuperdayBased on what criteria / characteristics do bankers evaluate SA candidates after a superday? How do they "score" candidates? ...
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Houlihan Lokey - Review - RestructuringPeople Unlimited vacation Happy hours Company events Lack of face time Winter break Compensation Culture. Lack of helpful feedback Lack of centralized resources makes certain inter office tasks somewhat inefficient ...
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Life after Investment Banking Like a majority of people who are on this website, I used to come on here and write bullshit about a life partly my own, partly fantasy. I'm now going to uncloak the anonymous man and tell you my story. My name is Stephen Ridley. I graduated from a top tier British University with a First Class Ho...
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Investment banking and going to the gymI'm pretty much a gym freak and am worried that banking is going to cut into my workout time. While I'm willing to sacrifice some workout time, I pretty much need an hour a day to lift, etc. Are most of you guys able to hit the gym every day? Is it any easier for associates to escape during the d...
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Between 2 Evils im starting my masters in finance from a target school this year. i understand the IB recruiting process. but does any one know if i should apply for SA or FT positions since i'll be getting my masters ...
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Rescheduling superdays because of other internship A lot of EB/BB firms will be doing superdays on set Fridays in May. Is it bad to ask firms for a reschedule if you are working a boutique internship this summer and need to work on that day? ...
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Best way to go about planning a Gap Year?I’ll start by giving my stats: 17 (almost 18) y/o AA female, homeschooled high schooler, applied to a few colleges yet only down to one state school (my gpa was not so nice). I was very unmotivated throughout high school which led me to do home schooling which I loved and learned better with and m...
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How do you account for FX risk in your Risk-Free Rate?Got this question for an interview earlier this week. Anyone knows the best answer to this? Also, anyone can share similar interview questions (more advanced questions, not covered in BIWS guide) they faced pertaining to CAPM and DCF?...
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Why are you an MD / why become an MD?Despite the demographic of this site, I've always been curious as to what the motivation is behind becoming or being a Managing Director in IB? Is it because you love IB and wanted to be an MD from day one? Is it because you want to be the next big rainmaker? Perhaps you want to one day launch your...
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Which in door spot to take interview calls in midtown NYC?Hello - I am looking for suggestions of indoor space to take interview calls in midtown. Office conference rooms are not available. I am afraid to bump into colleagues if I use lobbies close by. Streets are noisy and cold. Any suggestions? Highly appreciate it. ...
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Wells Fargo and Company - Review - Investment BankingA lot of successful team-building activities and Wells Fargo events occur. Also, the employees are all friendly and naturally mingle outside of work.. We keep getting hit by the media. We hope to get over this soon. Also, some MD's can be a little tough....
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Definition of MM PE FundWhile MF PE firms are well distinguised, there seems to be a lot less clarity in the MM PE range. What would constitute a LMM PE firm vs a MM PE firm? Would a PE firm with $1 - $2 billion AUM and invests in companies with EBIDTAs between $5 - $50 million be a lower mid market or a MM PE firm? Is it ...
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Weighing two different IBD internship offersHey guys. I have recently received two summer internship offers from two MM firms. One is based in NY and the group is DCM. The other one isn't based in NY or a large city and the group is Real Estate. My ultimate goal is venture capital or private equity, which opportunity do you think would be the...
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JPM ASIA (SG/HK) S&T 2018Heard that Singapore held superday this week, not sure about HK. Anyone got an offer after the superday? ...
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Is a 3.5 GPA and a 3.8 Major GPA good enough for IB or CB?Hello, So I am an Engineer major Junior looking to get into IB/CB (both I found very interesting). And I have a cummulative GPA of 3.5 and a major GPA of 3.8. I know that business majors have ridiculously high GPA's and that worries me. Also, my engineering program is within the top 10 in the US. M...
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Will CFA Level 1 help me break into the analyst world A little background I am currently graduating this spring(2018) with my Bachelors in Finance. I go to a private school in Rochester, it's obviously not a top tier school but does hold the AACSB accreditation for its business school. During my undergrad I played football for my school and doubled up ...
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Long Term Career in IB or Consulting? (Canada)Hey guys, student in Canada looking for some insight about the finance industry up here. I'm looking for a more long-term career in finance rather than jumping firms. I've heard a lot about IB in Canada being good for career bankers which is exactly what I'm leaning toward but I wanted to know a bi...
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Morgan Stanley - Review - GeneralistChose the company because I connected with the people and was not disappointed by that whatsoever. . Long hours and internal politics. But, sadly, that's seems to be the norm in every IB I have friends in....
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How to deal with insecurity of interning at a low-tier firm?Unfortunately I did not get a good internship gig for my junior summer, and so will be forced to intern at an MM. Obviously I will do everything I can to get a job at a prestigious firm for full time, but in the meantime I can't even look my friends and classmates who are going to BB's and EB's in ...
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Promotions easier in IB or ConsultingJust out of curiosity, how do the promotions compare from IB to Consulting? Is it harder to go from an analyst to Partner at MBB or Big 4 or from an analyst to MD at a BB?...
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Recovering from the 100+ hour weekJust wanted to ask those with experience how long it takes to recover from a 100+ hour week, and if you have any tips/methods to aid in recovery. I have just come off a 6 week spat wherein I had total hours of sleep totaling in single digits from the time I came in Monday and the time I left Friday...
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Chicago BB and EB RankingI've heard a lot of mixed views on this topic and there has not been a discussion about this in recent years. How would you all rank the Chicago BB's and EB's? I've heard great things about Citi, GS, and William Blair; but not much about other firms....
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Tech IB - Arma Partners vs GP Bullhound vs FT Partners vs HLIn the space of Tech-focused IB advisory, which one has the best reputation, culture, deal flow, involvement with mega-transactions, culture and exit options? Put HL on the list as they just bought Quayle Munro in the UK....
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Modeling Guides - FreeHey monkeyz, Sick of paid content and click bait? Listing some free modeling resources below: 1. Macabacus DOT com - LBO 2. Macabacus DOT com - Operating model 3. Macabacus DOT com - DCF 4. MultipleExpansion DOT com - Easy LBO (good starting point) 5. MultipleExpansion DOT com - Training LBO ...
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Very much overwhelmed So I am feeling a little overwhelmed regarding interviews. I am currently ending my sophomore year and I am starting to apply for 2019 SA positions. I will be submitting my application to Wells for their IBD internship soon. The problem is that I hardly know anything about the technical questions. T...
3
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Sovereign Advisory - exit options Hi guys, I'm trying to get more information on Sovereign Advisory, and apart from the very little information available on the teams at Lazard, Rothschild and Millstein, there is not much info on how to get into the groups, and the career paths thereafter. If you've got info, could you please help...
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Why Oil & Gas?superday coming up for an associate position with the oil & gas group of a BB. My reason for wanting to work in oil and gas is more driven by location (originally from TX and want to work there after graduation), so I am having difficulty coming up with a good answer to the "Why Energy" question tha...
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JPMorgan Chase - Review - Public FinanceJ.P. Morgan. Absolutely one of the best firms on the street with some of the most experienced individuals. Biggest pro is saccess to so many professionals willing and available to help you.. Few opportunities as an intern. Usually looked at as in the way by many people on the desks, but may be the s...
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GPA and health issuesHello, I am a second-year student at a target school with a solid resume and good experience, however, I was really sick this year and my grades suffered greatly due to my illness. How can I explain this to IB recruiters, especially the banks that require having at least a 3.5 GPA in order to be co...
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Bridge Loan LBO ModelUnderstood that bridge loans are typically replaced by high yield bonds, but is anyone aware on how that would affect the inputs on the LBO model? That is, should the bridge loan debt repayment schedule mirror that of a typical high yield bond debt repayment schedule? Or is there a better way to m...
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Demand for Generalised Linear Models (regression) for large data sets in Credit ModellingI am a PhD student in statistics doing research on big data for regression models. I was wandering whether there is demand for big data tools in generalised linear models for data sets with large p (number of coefficients/parameters) and/or large n (number of observations). I'm thinking that the Cre...
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Investment Banking as a long term career?Hey guys. I'm heading into my undergrad soon and I'm hoping to land a job in IB at one of the Big 5 banks in Calgary as energy is what interests me the most. Anyways, as is the norm up here in the North, I'm not going to pursue exit opps and instead stay as a banker. What I'm wondering is how good...
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Cappello Capital Corp. - Review - GeneralistThis summer I will be starting, but I have heard experiences there are great and you get exposure to seniors early (mainly for learning). There is an expectation that you will work banking hours, and work as hard as IB SAs do, but they do not pay...
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Scotiabank - Review - Debt Capital MarketsNA as I am set to intern summer 2018 ......................................................................... NA as I am set to intern summer 2018 ...........................................................................
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Arma partners vs FT Partners (London)Which do you think offers the better exit opps and pay? Do both of them pay the average? I appreciate your help!...
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Bad dual enrollment grades from high schoolHi monkeys! I am a high school senior who has been attending a STEM high school dual enrollment program with a university for the last two years. I will be attending a southern non-target with a full ride scholarship for national merit later this year. Unfortunately, I just found out that my grades...
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Probably not looking at a BB/EB offer for SA this junior year, how will FT recruiting work?I'm probably not going to be able to land a BB or EB for 2019, probably looking at a couple of MMs for 2019 SA, How does FT recruiting look for 2020 FT? I know it's much less structured, but is it pretty much the same, network early, ask around, and apply when the apps come out? How many spots are o...
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Can you get laid off if there's no space above?More specifically could a VP who's a good worker and bringing in clients not make it to MD since all positions are filled and he's passed 3 years? If so would he have options like getting hired into another bank or is he screwed since he had no exit opps?...
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Investment Banking Interview Questions - A Comprehensive Guide I was in your shoes about five or six years ago. I worked as an investment banking analyst at a Moelis/Houlihan/Evercore type firm in restructuring, got an offer for direct promotion to associate, passed on that to go to grad school in Europe, and have recently returned to take my associate perch i...
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KeyBanc Capital Markets - Review - GeneralistGood atmosphere for an investment bank. Upper level management hopes to see young analysts succeed in the space.. Just like any bank, the hours can be unpredictable and weekends can be blown up. Just a part of the industry....
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