Lack of Modeling
Secured a FT offer in a group that is known as the top group in the bank. Strongest deal flow and hardest group to break into. Only issue is that they don't model. Goal is MM PE. Do I need to look at lateraling to another group based entirely on the fact that my group doesn't traditionally run with the model or should I just focus on practice models on my downtime?
bump, interested
models are important but its easiest to learn. being "good" means you understand the business/industry/transaction rationale, can understand/develop thesis. modeling at the end of the day is a sanity check.
if you are getting good experience, do not lateral. understanding sale/M&A process is just as important.
Very much agree with Whiskey5’s post. I learned modeling on my own by practicing at home because modeling wasn’t a meaningful part of my banking job. Didn’t have a problem securing PE jobs.
From the perspective as the PE firm, we assess our associate candidates on about 8-10 different factors. Modeling is just one of them. While you can differentiate yourself with exceptional modeling skills, lack of modeling will not ding you from our processes. You can learn that on the job.
Im curious of the other factors if your willing to share!
The factors we evaluate candidates on include, in no particular order of importance whatsoever:
1) Financial Modeling 2) Accounting 3) Deal Experience (we interview later in the cycle) 4) Ability to analyze a CIM 5) Ability to dissect an industry 6) Writing skills 7) Social / Communication / Interpersonal Skills 8) Cultural / Fit with our values
Please do share as well
My firms (LMM) view is that while modeling is important, like said above isn’t the end all be all.
Learn how to understand the models and financial statements, not just pump them out.
One can be an A+ modeler, but if they can’t interpret what the model produced, it is almost worthless.
Just my 2 cents.
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