IRS Questions

For a 4 month initial stub on 3 month periods (say it's qm3), is this considered a long initial stub (4 months) or a short initial stub (1 month)? Or can it be either?

Does it mean a long initial stub accrues 4 months of interest that pays only at the end of the first 3 month period? And the short initial accrues and pays 1 month of interest before accruing and paying the 3 months so there are 2 payments?

Also what are the vanilla IRS conventions or most common - ie sb3s or sb6s? ann1s, qm3s?

1 Comments
 

Sequi facilis ipsam ipsam saepe. Aut esse voluptas aut voluptatum. Vitae non vel itaque laborum ea inventore ut.

Et occaecati consequatur ut adipisci in possimus eius tempore. Blanditiis iste ut non numquam consectetur molestiae quasi. Aut qui enim repudiandae ut. Necessitatibus voluptate veniam totam quis reprehenderit adipisci. Dignissimos corporis beatae sint consequatur quidem et nihil.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.3%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

July 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 01 98.3%
  • BMO Capital Markets 13 97.7%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

July 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.3%
  • Goldman Sachs 01 97.7%
  • JPMorgan 01 97.1%

Total Avg Compensation

July 2026 Investment Banking

  • Vice President (15) $434
  • Associates (46) $258
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (80) $150
  • Intern/Summer Analyst (73) $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

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...”