Pointing out bosses Template mistakes
I just started an internship this week doing land acquisitions for a developer/home builder and after diving into my first CMA model I noticed a few small errors in formulas and spelling. I’m just curious how managers of interns accept being told they messed up and if it’s something I should bring up or just continue about my business. Just wanted to see wassup. Thx
(Updated) the error must have been something I did cause it was correct in the template! Thanks y’all
Ah, the classic dilemma of spotting a banana peel in the boss's work – do you point it out or just sidestep it? Here's the scoop based on the highest ranked content on WSO:
Approach with Humility: Remember, you're the new monkey in the jungle, so it's all about how you present your findings. Approach the situation with a humble attitude, acknowledging that you're still learning and you might have misunderstood something.
Be Tactful: Instead of outright saying "you made a mistake," you could frame it as a question. For example, "I noticed something in the CMA model that seemed a bit off to me. Could you help me understand why it's done this way? I want to make sure I'm learning the correct process."
Offer Solutions, Not Just Problems: If you're going to bring up an issue, it's always better to have a suggestion for how to fix it. This shows initiative and that you're not just critiquing but contributing.
Pick Your Battles: If the errors are minor and don't impact the overall work significantly, it might be better to let them slide for now. If they could lead to bigger issues, then it's worth mentioning.
Timing is Key: Find a good moment to discuss this when your boss isn't swamped with other tasks. You want their full attention and for them to see that you're trying to ensure the best quality work.
Document Your Findings: If you decide to bring it up, have the errors clearly documented so you can show exactly what you're referring to.
Remember, it's not just about what you say, but how you say it. Swing it right, and you could be seen as proactive and detail-oriented. Swing it wrong, and well, let's just say you don't want to be that intern. Good luck!
Sources: Ways of Underperformance - and how to avoid them (Part 1), How to train attention to detail, Practicing attention to detail, Investment Banking Analyst: 15 Things I Wish I Knew, https://www.wallstreetoasis.com/forum/investment-banking/advice-on-improving-terrible-attention-to-detail?customgpt=1
If its typos and inefficient formulas, they probably just don't care enough to fix it. Personally, I would just fix the typos myself and not say anything because its not adding any value.
For the formulas are you sure they are errors? Is it resulting in the numbers being incorrect? I would approach those as a "hey I noticed X and Y formulas looked a bit off in the model from how I understand the math, can you walk me through the calculation?" rather than telling them they're wrong. Same bonus points for finding an error if you're right, but you don't look like a know it all intern.
What type of formula errors are you referring to?
If the error has gone unnoticed for this long a question of relevance might be one consideration. Another might be does this "error" make the firm more money.
One possible way to approach the question, to have an excel. Say, ''Hi, I was practicing on making my own models and calculations. I was calculating X this way, but I see that the model is calculating X this other way. My answers are slightly different, is there a reason for one vs the other?"
Interesting, first I am hearing this. What's an error you've seen that would be positive and make the firm money?
Didn't even think firms would do that, but I guess it could range from honest mistake to deliberate.
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