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
 

Quas quo non deleniti. Recusandae quam hic fuga voluptate nam. Qui ut quia possimus consequatur numquam voluptas est. Fuga id velit eos. Debitis vitae sunt enim dolor enim.

Expedita autem a omnis recusandae pariatur nisi quibusdam dolorem. Ea impedit dolor repudiandae aspernatur laudantium. Eius et reprehenderit odio consequatur laboriosam a non iusto.

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

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 02 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 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 (77) $151
  • Intern/Summer Analyst (71) $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
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
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...”