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Nothing to do as in you’ve gone through older CIMs, model, decks and had a chance to recreate the models and decks and have gotten proficient with building DCFs, LBOs and 3 statement models?
I understand the anxiety here. I've been the intern staffer twice, and I've sat at the round table at the end of the summer to determine who gets a return offer. Let me help you!
If you have free time, your order of operations should be as follows:
1. Talk to the staffer, let them know you have free time
2. Talk to the staffer, let them know you have free time. I am putting this twice for emphasis. There is always work to be done, the staffer will know where to put you.
3. Review prior CIMs and models. Recreate models, or flow them through if you can.
4. Get coffee with people. Especially if you just reviewed their CIM or model, that gives you something great to talk about - "Hey, I saw you did [X Action] for [Y Company], that was pretty creative. Tell me more about how you came up with that idea?"
5. Read the Journal until 6. Then go home.
A little bit of downtime shouldn't scare you. A lot of downtime could be a sign that nobody wants to staff you. But in small doses, enjoy the break, let the team know you're ready to help, and use it to build your internal network.
Thanks so much for your response! How would you be able to tell if they don't want to staff you? So far, I am just assuming my deals ended, there's not much for me to do. I did let staffers now that I have free time and have capacity to be staffed, talked to COO for all of my three groups and they told me they'll help get me staffed, etc. I actually just got an email that I got staffed on this new thing for technology but it's not a deal it's just updating a deck for people from TMT group who joined recently or left, etc so I don't know if this is a bad sign?
Last week was really really busy but i have been pretty much free and very available for about 3ish days so I just don't know how i would be able to tell if people don't want me to join their deals.
I wouldn’t worry about this being a sign that people don’t want to staff you. There’s always gonna be some slow periods especially as an intern. It’s nothing personal, it’s just that you don’t have a ton of experience, and so it takes some time to get you up to speed on things when it might be faster for an analyst/associate to do it themselves
Congrats on Northwestern Mutuals!
I would wait until 6ish, then ask around if there’s anything you can help with…and if nobody has anything then say you’ll be reachable by email and leave!
As long as you’ve shown your team you can execute when it matters and you get the job done — leaving early when you have nothing to do shows confidence imo. No need to be a hardo and pretend to read the WSJ for hours or practice modeling in excel…there’s plenty of late nights in this industry — spending the little downtime you have at your desk is a fast track to burnout.
Yes it's a bad sign if you don't have any work. When groups are not busy and there is no work to do, layoffs are imminent.
If a group is consistently generating good fees, people shouldn't have that much free time with nothing to do. I'll die on this hill.
okay i mean i respect the advice but aren't u an intern too? like what do we know im asking on this forum to hopefully get an analyst's opinion or an associate if i wanted an intern advice id just turn to my friends and not be on here
I am an AN2 but hey do whatever you want man
Why not study for the gmat, read the journal, get a good business book
i would leave around 8 maybe. Not too much before that.
that being said staying until 1am with no work to do is silly
just use good judgement
Just don’t be the guy who begs for more work, but is a ghost when the really shitty task arrives late Friday afternoon, at midnight, etc. Sometimes it’s better to be the guy in the middle, than to shoot for being the top dude and inadvertently expose yourself.
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