How to Spin my Experience
Hey guys I am trying to figure out how I need to "spin" my current boutique IB internship to help land me a BB SA next year (I am class of 2015).
At my current firm, the analysts do all the modeling and despite me asking kindly to help on one, they simply cannot take the risk due to the time-sensitive nature of the models and how understaffed these firms are. They need to get them out, and find it easier to do so themselves. Understandable I guess.
So during this entire summer, I have mainly been doing research reports on subsector areas, created slide decks, conducted due diligence, made industry universes, and conducted a comps and transaction analysis on each subsector to see where the multiples are currently trading at. Now, people keep telling me that I need to learn how to "spin" this experience, but I am not really sure what that means. Will having this SA internship hurt me if I try to make it sound like something its not? Basically on my resume right now, I noted nothing of current deals and only put things like I have above as the bullet points. I feel that playing this position in a conservative way would be best, but people on WSO have told me to try and spin this experience.
Can you guys help clarify as to what this means, and how I should do that. Also will this experience set me up for different types of questions in interviews coming up than a different candidate? Any advice would be great. Thanks
You can "spin", but never lie. Be prepared to talk in depth about EVERY line on your resume...especially specific deal experiences and modeling experiences if you have it on your resume. It's a big red flag if you put down you have relevant modeling and deal experience, but can't talk in depth about it to the interviewer.
Have you assisted with ANY modeling?
Well luckily I don't have deal experience or modeling experience on my resume. I did not do any of that here, and that is why I left them out. But people are telling me to try and "spin" them and put them on my resume. I like your advice better because I can speak diligently about what I did, although it may not be very "relevant" in IB terms. Although my official position was Investment Banking Summer Analyst...
And no I haven't assisted with any modeling whatsoever.
First post on the forums here (been an observer for a while), but I actually find myself in a similar situation. Thought I would share my thoughts (anyone with more experience feel free to correct).
-BB's won't expect you to have had significant modeling experience, especially at a MM bank. You are best-off being honest about your experience in regards to the internship (see GrandJury's comment), but show through other channels that you have math/accounting smarts.
-It would be better to undersell (or at least be honest about) the modeling experience, but study up on technicals so you ace them in the BB interviews -- effectively under-promising and over-delivering. If you know technicals better than the candidate who actually listed modeling experience on his resume, an interviewer would be inclined to think there was a lot "more" behind your resume than his.
Like I said, I am actually in a similar situation, so I am not speaking from the other side of the interview process. My impression is that a solid resume with a good write up of a MM experience (speaking to to actions with results, but no overblown mention of modeling) would be sufficient to gain interviews next year, assuming proper networking. That being said, if you don't sell yourself enough in the resume, you won't even have the chance to back it up in person. Anyone on the other side of the recruitment process have anything to add in that regard?
Great advice, thank you for sharing this. I like the idea of under-promising and over-delivering, that is great. Thanks
Solid advice from Sarbane's.
I'm in a similar situation as well since I'm a current undergraduate. I met with an alum from my school last week who's a VP at a BB, and he told me that he used to be really involved with the recruiting process. One time he was interviewing this kid who interned at a small boutique IB firm the summer before, and had a few specific deal experiences and modeling experience on his resume. The VP proceeded to dig deeper into the kid's experiences and it turns out the kid EXTREMELY overstated his experiences, and could not talk in depth about what he did. The interview then became extremely awkward because the VP now had no idea what was actually true on this kid's resume.
Let's just say the kid did not get an offer.
Like Sarbane's, under-promising and over-delivering would be much better than over-stating and under-delivering.
I would just word the experiences you did have as best as possible. It's still better in my opinion than having a PWM internship or (most) non-related finance internship.
Exercitationem id facilis aperiam dolores ad. Et consequatur sit eum et iure eligendi. Accusamus molestiae debitis consequatur et dolore eos.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...