Do I need to know any financial modeling for IB internships?
As the title says. What do I need to know for an IB internship? What should I go learn?
I'm not in college yet, so trying to learn what I can while I have the time.
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Yes, you'll need to learn how to model but you won't really be in charge of a model; that's more an A2 / associate's role. Banks treat interns like they know nothing (and you really do), so I wouldn't be too intimidated by a lack of modeling skills. I didn't become a good modeler until after the first year on the job. I'd just be sure to know how the three statements work, along with the dcf. They'll also have you do a WSP / TTS modeling course your first few weeks of the internship.
Ok since I'm not in college yet where would I learn the three statements and such? I plan on going to university for a undergrad in finance but was hoping to possibly grab an internship before.
Got it, there wouldn't be a firm that would give you that exposure before you start college. Don't get me wrong, very ambitious on your part and good for you, but firms wouldn't do that. If you really want to have an internship before college, you could reach out to local wealth management shops and see if you can do administrative work for them
Yes that's what I've been doing. I've contacted all the local banks in my area for possible interning/low level positions. So far I have one phone call lined up with a Manger/VP of one of these banks. Trying to get into something dealing with asset based lending or a commercial real-estate financing group. I'm hoping to have at least a little banking experience that will look good for later.
That sounds good, keep up the good work! It'll pay off.
Thank you for the advice
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