Summer Training for Full time

1) 9 to 6~10pm. Depends on how much hw you have for the next day. 2) No, but they usually serve food (lunch and dinner) 3) Oh yeah, every night. 4) Easy shit 5) You take the prep course for Series 79 for about a week. 6) NM. You just drink with people in your class 7) You'll enjoy it. But still have to go to class (don't be late) and don't fail the exams. I heard barcap laid off 30% of their class after acct exam. (not even series 79). Not sure if it's true though.

is it the same for S&T?

1. No, you are typically at the building from 8 or 9 to 5. 2) The bank will cater a few meals here and there and may provide some snacks in the afternoon (e.g. granola bars, chips, soda). When you are given modeling or group exercises that require you to stay past the firm's late night dinner cut-off time, you are given your $25 Seamless allowance.
2. You get plenty of chances. If you majored in finance, you don't have to spend as much free time cramming accounting and valuation concepts into your head. You can use your relocation and sign-on bonuses to inject some life into the Manhattan economy.
3. Most banks use Training the Street. TTS will teach your class for a few weeks. The models TTS teaches you to build are intermediate in difficulty, comparable to that of the BIWS interview prep models and definitely not that advanced. If you already learned to model the BIWS way, you may find the layout of the TTS templates extremely frustrating.
4. You are given your Series 63 and 79 materials early, possibly before you even fly out to NY for training. Given the 30%-ish fail rate of the Series 79 this past summer, some banks are telling their incoming analysts to start studying now. Last summer, many banks simply put their analysts through a three-day class taught by the Securities Training Corporation in preparation for the exam. STC's training was horrible. The materials are OK, but the class added no value.
5. You may have a Saturday class once or twice, but you usually have your weekends free to do whatever.
6. It was great. I had time and money to blow on top steakhouses, restaurants and bars. I bought nice clothes and a watch. I majored in finance, so I slept through the accounting and valuation instruction sessions while the Ivy econ majors pulled their hairs out, stressing the possibility of failing the exams and consequently being placed in an undesirable group.

And now I work, stumbling into the gym comatose and unable to perform as I did when I actually slept like a normal human being, my mood buoyed by the more rapid padding of my bank account and dreams of private equity.

what about the dress code during the training ? are jeans and baskets ok ? or more like friday wear / office casual

I heard you have to wear suits majority of the time. So get use to walking in ur suits around the city.

Also, would people share their series exam experiences. How many hours were you studying per week with all that stuff going on the fun and what not. Also, any advice anyone may have the way to study .

TTS has a fairly simple and ugly layout. Just associate yourself with your bank's template

Training is a lot of fun if you were a finance major. It sucks if you were a liberal arts major (try cramming 30 credits of classes into two weeks)

This is all really helpful info, thanks to everyone for sharing. I have a question about the accounting pre-test that we're supposed to do online (which for me is in the next couple weeks) in advance of the actual training in NYC.

Are we going to be asked to build a 3-statement model or is it more basic like "what is an income statement, b/s, CFS, etc.", "how do these line items fit into the three statements"? Also, is the format multiple choice, short answer, etc.?

Thanks all!

I talked to someone about it and they said they had 15 questions but it was really detailed and they had problems. Please will someone shed some more light?

I'm also interested in hearing what the accounting test was like. Anyone?

hisroyalairness

did you take the pre accounting exam yet? How'd it go