Starting point for Summer 2020 Internship
Rising sophomore in college and I have ZERO background in finance. I’d like to try out PE through an internship for Summer 2020. Please help with resources, websites, interview prep, general PE advice. Any help is greatly appreciated
Rising Junior in same situation, interested
Well, I have been in a similar situation to you so I can help. First, you need to learn the basics of Finance. This includes DCF,LBO,WACC, M&A, Alpha, Beta, Systematic Risk, RSI, MACD and various financial ratios. Second, you need to learn the basics of accounting which includes debits and credits. (Assets = Liabilities + Owner's Equity) and the basic accounting statement. Third, start to learn how to make financial models and different valuation methods. Fourth, at your college or university, make sure you join all the finance clubs or have a job that deals with cash. Fifth, start following the stock market globally and the news everyday which include all of them world wide. I can provide more information if you need.
P.S Start learning and mastering Microsoft Excel, Powerpoint and know SQL.
Thank you so much for the tips. Any specific websites or resources to learn these things? I’ve heard of guides like the M&I 400 for investment banking. Is there an equivalent for PE?
I know you want to do private equity but it is generally a bit more difficult to attain than an investment banking internship. What usually happens is people do their two year stint as an investment banking analyst and then move to PE/HF. Is it possible to take a finance class before SA 2020? Generally, it is a lot easier to learn through someone who much more experience. I would also even recommend going over practice questions for C.F.A charter.
What exactly is a "rising" sophomore?
about to enter your sophomore year
We had an intern describe himself as such during a presentation. None of my coworkers knew what that meant and thought he was just trying to make himself sound more impressive.
I use the term rising because I’ll be a sophomore at the start of the next school year. Otherwise some people may be confused as to whether I just finished sophomore year or I’m about to enter in the fall.
I really don't know how common that terminology is outside of university circles. Maybe it matters in some places, but I think people who graduated long ago and work jobs don't think much about the school year cycle. It's ok to just call yourself a sophomore or 2nd year undergrad. Personally, I hate the term sophomore and never use it because it is derived from the word "sophomoric".
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