Do you really learn everything on the job?

I'm a senior with a return offer from a MM GE firm and feel like there is a big gap in what I should know for the job... valuation etc, more so on the technical side. I spoke to some people and have been told to ENJOY my senior year and not worry about work until I start. Is this the right approach? IMO not being completely versed on the technical side makes me less confident in other areas. I have also been told that I shouldn't know everything at this stage and to go with the flow. I just want to know what you guys think? Am I overthinking or should be focused on being the most prepared analyst?   

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