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April 30, 2024
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
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5 hours ...emm... if they get enough people to interview, they might not need to hire anymore.. haha
I know... WTF is that shit. If I go in there and work my ass off for 5 hours / study insanely for 2 weeks beforehand and then they don't give me a job I think I'd probably shoot myself.
doesnt make sense.
i interviewed with an re fund with over $30B AUM and i was given a case study that i cracked in like 30 mins.
your headhunter must smoking dope. s/he probably meant that you would be in the office interviewing for 5 hrs, including a modelling test.
word, that's comforting...Anyone else?
I would also be prepared to model in a waterfall / promote structure and various debt scenarios. Be able to calculate returns both at the asset and fund level.
I'd say you're correct that you won't be modeling LBOs. However, you will definitely need to have a basic understanding of how promote structures in RE PE work.
5-6 hours seems a bit long. The RE mega-fund ($40+ billion) I work at doesn't do modeling tests, although interviews can get very personal (all fit based) or depending on who interviews you, very technical. If I had to imagine what the modeling test might look like, I would say you're most certainly going to have to load-up a past deal. You'll probably get an OM, an ARGUS file, and a set of the firm's standard underwriting assumptions. From there you will have to rebuild the ARGUS file using the firm's assumptions and create a DCF model in Excel (or edit an existing template). Once everything is tied together, they'll definitely have you walk the interviewer(s) through the model.
If you come from an acquisitions background, this whole process shouldn't take you more than an hour for a single office building; no more than 3 hours for a portfolio (3+ properties). Good luck!
Lol. It all sounds good and building the model would clearly not be a major problem except for one thing... I don't have ANY experience with Argus. Any recommendations on some sort of intro training I should do for Argus... Even if it's some sort of expensive training course, I'm not worried about cost only worried about the quality.
I would imagine that this firm does other things aside from RE, and that perhaps the other units have a 5 hr modeling test (LBO etc..)... coming from a re acquisitions background, I can't imagine what u would be doing for 5 hours, unless its like an EXCEL Test...
Yeah. The firm is large and has HF as well as LBO practice, hopefully the long-ass modeling test is for one of those and the head hunter is mistaken.
I didn't know what Argus was so I went to their web site.... wow. What the fuck is up with their advertisements? That shit is ridiculous, it looks like an Alexay Vaynar video done by a high school AV class.
http://www.argussoftware.com/en/
Argus is pretty simple once you get your hands on it. Pymp, PM me and I will email you some ARGUS materials I have including instruction manuals and test cases.
I'm currently in a similar situation to you. After checking out the Argus website, they offer several informational webinars - one of which I sat in on yesterday during lunch. It was a good way to at least become familiar with the program.
If you have DCF experience, looks like a walk in the park
Haha, love the videos. I would burst out laughing just thinking about them if I had to rebuild an Argus file in an interview.
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