those of you who had an easy banking experience - how f’d were you when you went to PE?
curious to hear how bad my plight might be… haven’t modeled much if anything. Know how to build an LBO and DCF and all the basics in a model test but how fckd am I?
You’re fine. You’ll learn on the job/training. Everyone’s IB stint is different and very few incoming associates have extensive modeling experience.
For the most part, there’s a bunch of imposter syndrome, and every associate thinks they’re the odd man out with weaker reps.
Remember us MBBers can hack it, and I didn’t even know the OpEx buckets when I went to PE.
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Ty sir! Am worried about fellas coming in my class from RX and Botique backgrounds who are wayyyy more technically competent than me and the fact they had 2 years of that experience compared to my BB coverage experience (still very strong). Is there anything you suggest getting up to speed in the first few months / suggest doing to be on a strong front foot? Obviously believe a ton in the “learning on the job” saying but def wished there were things I was told going into banking FT on politics etc… that would’ve made my experience so far stronger . Much appreciated
Congrats on UBS Tech! But no seriously, you will be fine. If people from consulting can do fine and get promoted, someone even in a banking team with no deals should have more than enough required technical knowledge.
Just master the 1 tab LBO and you’ll be good to go from the perspective of understanding theoretical finance concepts . Honestly the biggest technical excel skill you end up using is data cutting - so learn how to do a good index match, pivot table, use AI to clean data, etc.
You’ll be fine technically, the job is not that hard to be fair (unless you’re doing infra modelling then you need proper experience). I was worried as well also given I’ve joined one of these funky structured strategies (eg stuff like Apollo hybrid). The hardest part in my view is just having a quick commercial mind which I think takes time and reps to build
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