technical/computer skills for banking

I've realized that major banks like Goldman, Morgan Stanley, etc. require computer programming skills for finance related internships. For anyone out there with experience, what kind of computer programming or technical skills are needed? And are these kind of questions asked at the interview?

 
goblan:
Excel. VBA helps too.
just to clarify, the computer programming requirement does not mean programming languages i.e., c++, java, etc. right? unless you're applying for an engineering or an IT job i suppose?
 

You do have to know some of the basics. Pick a cheap textbook on introduction to finance, and read it.

Might sound corny, but it's so true: read everything you can. Just read through a finance book. Also, do yourself a favor and check out the endless supply of resources out there: ibankingfaq.com comes to mind. There are others. Start with the basics, like the Vault guides and ibankingfaq, and you'll see what kind of general things you should know.

 

It was fairly rare that I was asked any technical questions even for full-time hiring, but because you're an econ major, you may be asked questions about material you would have learned in your classes. In fact, out of a zillion interviews, I can remember the two (yes, two) technical questions I was asked. The first was "If I asked you a technical question, would you be able to answer it?" to which I responded "It's very unlikely," and he asked me some really easy question that I still blanked on. The second was essentially some sort of bond-valuation question with a twist. Based on your background, people asking you these things are just trying to see what you've read up on. As long as you don't go in there acting like you SHOULD know the answer to technical questions (like saying you took finance classes), chances are if anyone asks you them, they're just trying to see how you react under stress.


http://ibankinglife.blogspot.com

 

Don't know about the online stuff, but....

I'd recommend a basic book on accounting, and then the book "Valuation: Measuring and Managing the Value of Companies" by Copeland, Koller, and Murrin.

Classic text on the subject. I think it's around $80 (although someone who has recently purchased it will have more current pricing info--mine's about 4 years old).

You should build some solid Excel skills, too. Plenty of books on financial modeling with Excel out there.

 

The Copeland valuation book is a classic, however I've found that in every day practice there are other books that are equally, if not more valuable. Anybody in valuation, generally subscribes to works by these two authors as well:

Aswath Damodaran: - "Valuation: Measuring and Valuing the Value of Companies"

Pratt & Reilly: - "Valuing a Company"

 

If you can find anyone who's a first year analyst they'll have plenty of valuation booklets that they received on their training and don;t really use anymore. GS, Merril definately have good booklets that'll teach the essentials

 

TheAnalystExchange is a live class that you can take via the internet. For someone that has no background, it may be a better experience than reading out of a book. Plus they help you with interview practice, etc.

 

Iusto quibusdam labore provident voluptatibus molestiae sint. Deleniti ut at nostrum quidem et itaque. Assumenda excepturi magni porro placeat enim qui neque dolorem. Consequuntur aliquam fugiat aperiam. Illo odio quos aut omnis praesentium aliquid.

Repudiandae quisquam architecto molestias non. Totam at commodi expedita in odio. Vitae et enim voluptas numquam. Voluptate est maxime illum et ut rem dolores sit.

Velit aut itaque voluptatibus corporis nesciunt. Recusandae tempora alias dicta provident sit. Saepe praesentium nihil nobis et necessitatibus perferendis ut. Eveniet rerum alias assumenda possimus. Aut tenetur ut porro sequi animi perferendis voluptatem.

Sint repellat quos voluptatibus et. Suscipit ipsa molestias corrupti. Corporis est et et provident et blanditiis.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $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

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...”