If one is being considered for an associate position in IBD, would it be helpful to model one of the bank's previous deals and send it along for consideration? As a lawyer trying to transition, I figure it might be a good way to prove that I can do the work.
Thoughts?
No, you'll almost undoubtedly screw it up, it will come off as strange, and no one will want to take the time to look through it
Well, what if I have a couple banker friends check it over to make sure it's okay? I've built a few models of this kind before, so I'm fairly confident in it.
I'm "on hold" and I think my main weakness is that I don't come from a finance background. I thought doing this might show initiative, prove interest, and demonstrate that I can do the work.
no thats just weird. Do you know how busy bankers are? They are not going to waste their time going through your model.
Not unless they specifically ask for it.
No. No one cares. No one will look at it. And its nearly impossible for it to be perfect, which it needs to be if someone else is looking at it.
Further, if you're already being considered, they will get a feel for your technical/modeling skills regardless. You're not going to wow anyone with a model.
You need to do that with your story/personality.
I agree. In my opinion it will not help.
Thanks for the advice. I'm surprised the consensus is so strong!
I don't feel as strongly as those above, but I still agree not to do it. I doubt anyone would read it over, so the most it would do is get you a check in the "really wants the job" box. Doubt that would be enough to pull you over the line if you're on hold. In the end it would probably end up as a waste of your time.
Well, I completed the model already--before I started this thread, actually. A friend of mine looked it over and said it's pretty good and there are no obvious errors. If it will show interest, I'm all for sending it. I'm not concerned with it not helping much. I just don't want to hurt myself.
IMO this will most likely come off as awkward / desperate. If a recruit sent me a model to show off their financial prowess I would definitely find it weird. There are way more risks to the downside than possible upside benefits.
Only way this would EVER work out is if you took a recent deal that the bank or the group you've applied to has worked on, and built a model that shows some new/interesting points that they did not consider.
That's the only way. Your model probably sucks, to be honest.
Well, against the better wisdom offered here, I went ahead and sent the model. I figure, at the very least, it's an experiment.
let us know how it goes....why do you even ask for advice though?
Well, I took the advice seriously. But I feel like I'm throwing a Hail Mary at this point, anyway. I had already built the model and figured it couldn't hurt.
Also, I had tried a similar tactic with another bank--although I didn't get the job, the founding partner personally called to let me know that he was very impressed with the model and the preparedness and motivation it demonstrated. A close friend of mine in banking took a look at this new model and said it was excellent. So, I'm reasonably confident that I won't look like an absolute fool.
Most importantly, I'm confronting the problem of being a lawyer with no finance background. It seems that no matter how many technical questions I answer correctly in interviews, my technical ability is still doubted. I wanted to do something that might turn the tide.
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