Interning at an M&A firm/Business Broker this summer
How should I label my position on my resume? Am I still technically an investment banking summer analyst? I do the modeling/pitchbook making that any other SA would, just the companies I work with are small privately owned businesses for the most part. Obviously, I am trying to make myself appear as hirable as possible to an investment bank but don't want to be misleading.
Yes put investment banking summer analyst. It is essentially the same thing as summer intern at many places, but sounds a lot better. Just wondering, how are you doing financial models for small privately owned businesses? Do you do any valuation work?
Seller's Discretionary Earnings method. Its a simplified DCF because these companies either have terrible accountants or keep the books on quickbooks making their financials a huge mess. Still finding free cash and predicting future cash flows to find what the buyer would be making before owner's salary, "entertainment" expenses, etc. Then adding a multipler to come up with a valuation price. From there, it's just marketing that price and letting buyers offer til a markt price is found.
Sounds like a cool experience. Definitely would agree that labeling it as an SA experience would be appropriate. Just make sure to explain the deets once you get to interviews.
Out of curiosity, how did you go about finding this position?
I started looking for IB internships late due to switching my major spring semester so I was just calling small firms in the area. Met the principals and thought it would be a good experience. I work with the senior bankers daily and sit in on meetings with the buyers/sellers so I've enjoyed it thus far.
That's exactly what I am doing!! I have been told that if you expose yourself to bigger deals then you will have a fighting chance, but either way we will be ahead of someone with no experiece modeling and doing deals. Business Brokerage seems to be really similar to lower Boutique IB becasue they allow you more interaction with clients as compared to a summer analyst at a BB. What Brokerage are you working for and if you want you can PM me.
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