Hi,
So I realised I really like modelling after doing BIWS, and I would like my ''first'' analyst position to be just that, modelling and creating powerpoint pitches etc. In my opinion this is work that matters, and you feel like you actually do some thinking and use your knowledge. When I did a bit of work experience in MO it was mind numbing, and I felt like I could easily have been replaced by a robot monkey.
I know that one does a good amount of modelling in investment banking, but I don't want to get into that because of the hours. I enjoy sleeping.
What other jobs include modelling, valuation and pitches? I know you'll say equity research, private equity, corp dev etc... but could you be a bit more detailed and maybe include some others?
For example, I thought corporate finance was almost just accounting...do they do a lot of modelling?
Thanks, and sorry if the question is confused, I'm confused.
I clicked here because i misread the title :(
but OT: how quanty are you? lots of people do nothing but model algo's in quant. trading.
Most big accounting firms have TAS or Valuation groups. ER also involves some modeling.
I hear Vogue has several openings.
I might get flamed for this, but I've talked to a number of valuation groups and they will all tell you that the modeling they do is leaps and bounds ahead of the modeling IB does. And the majority of I-bankers I've talked to will say the same thing to. Why is this? Because valuation needs to come up with a very precise number because whatever they say is usually legally binding and final, while bankers are coming up with a range of numbers and trying to sell the number (highest # possible if a sell side client, lowest # possible if buy side client).
Also, financial opinions groups(sub-set of valuation at some places) does a ton of modeling.
Valuation groups (Deloitte, Duff & Phelps) use the theories precisely. Everything is precise. Very inflexible
Perfect example is WACC. With the 10-year Treasury at all time lows, the CAPM is spitting out ridiculously low cost of equity values.
A banker might look at what CAPM and WACC say, but it is usually ignored because interest rates are too low and the "market risk premium" is the most subjective number on the planet.
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