Wall-St Training Program
Have any of you ever heard of a company called "Wall-St Training"? They approached a group on my campus, (top liberal arts school), trying to get them to bring their program to campus. Basically its two weekend sessions where you learn financial modeling and then get a certificate of completion or whatever. All sounded very sketchy. They apparently are present on other campuses but I am not sure. They say they lose money on university/college programs but do it and act as a headhunter for top performers in the weekend sessions. I am naturally skeptical, especially of things like this, but anyone have any experience with this program?
I used it on my campus! Here is my review of it:
1) The people doing it are pretty experienced bankers (at least in my case) and some firms on the street hire them.
2) Mixed feelings about the weekend training. It is really fast, so if you know nothing it is hard to grasp things. You learn excel, but when it comes to understanding the model in financial terms it might be difficult because you might be struggling just to keep up. It could be a good experience however, if you get a good thoughtful guy. My instructor was on crack, digressing more than half of the time, talking shit about ppl and finishing the course by 2pm when it was supposed to be 9am to 5pm ( saying he did us a favor). I got to see what a semi successful banker looks like.
3) Don't believe about losing money crap. They are former bankers and no way in hell they decided to be charitable all of a sudden. They make quite a lot if they get 30 to 40 ppl to participate. Also, they are trying to capture market share among universities because it is hard to compete with more professional firms that are hired by big banks.
4)They do talk about connecting you, but they don't. You get their contact info and that's about it. Unless somehow the instructor likes because you really stand out with something, otherwise they don't do anything for you in that regard. You could pay them and they say they will help to find a job, but I never went that route and i there plenty free headhunters to do it.
5) I did it for the experience, which wasn't great in terms of learning but was ok to understand some basics and some perspectives. They offered a deal which wasn't too expensive so I took it, but this year they came back and the price was higher, so you can see their marketing strategy.
If you got extra money and never seen a financial model or ever used excel for finance go for it. Expect to fall behind though if you do not know excel.
Hope it helps.
You do not need modeling training before starting at any BB bank. There is no need to debate this at all.
If you need to learn the technicals before an interview, buy the WSO and Vault guides.
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