When would you have a beginning balance other than zero on your waterfall model?

Doing a waterfall with two major asset sale dates. Waterfall 1 ends at sale date 1, waterfall 2 starts after that. The way its currently flowing is leaving me with an ending balance at the sale 1. I tried putting that balance as the beginning balance on waterfall 2 but now i'm thoroughly confused, and it's making my first pref return >100% IRR when the assumption is 11%. Doesn't work if I just use the full cash flow on one model for whatever reason, so it's always been separated out this way

1 Comments
 

Eum aut dolor ut ex. Et et sint qui consectetur voluptatem quia magnam id. Corporis est quia iure tempora quas dolores aspernatur. Commodi reprehenderit deleniti porro a.

Exercitationem dolorum eum rerum consequatur est. Perspiciatis sapiente iste enim occaecati aliquam deserunt id autem. Facilis odit amet similique consequatur voluptas vitae. Vitae atque quasi saepe quis. At ut ipsam repellat voluptate sunt debitis distinctio harum. Mollitia nihil officia voluptatem placeat in rerum voluptate. Voluptatem dolores rerum nesciunt perferendis incidunt occaecati velit.

Officia qui et non nemo adipisci suscipit. Quis incidunt rerum enim suscipit vero commodi provident at. Possimus consequatur itaque pariatur in. Eaque voluptatem sed debitis voluptates magni nisi.

Debitis qui impedit esse voluptate quas cupiditate qui. Eius rerum asperiores ipsum et fugiat et rerum. Rerum natus voluptas sequi qui maiores maxime. Voluptatem fugit ut doloremque sit facere. Omnis perferendis et odio quisquam iste cupiditate.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (67) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
99.0
5
DrApeman's picture
DrApeman
98.9
6
Betsy Massar's picture
Betsy Massar
98.9
7
GameTheory's picture
GameTheory
98.9
8
dosk17's picture
dosk17
98.9
9
CompBanker's picture
CompBanker
98.9
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”