M&I's program - Breaking Into Wall Street does a good job walking through the different valuation methods, but it seems more focused on preparing for interviews than learning how to model things out for real. So if you really want to pick up the hard skills, perhaps you would need a book or some other program where you can really do things step by step.

 

From an academic standpoint and from learning the fundamentals in valuation, I am sure these guides do a pretty good job teaching you valuation specifics and all the accounting/finance intrcacies - how to adjust for things, whats included and whats excluded .. yada yada.

What it won't teach you is the experience you get as an analyst modeling these things over and over, and having an associate over your shoulder correcting you and teaching you even more. As banker88 said, these guides are more for kids who want to break into banking who know little about it.

 
Best Response

OK...so this seems to be recurring theme on this site, so here's my personal take on some of the financial modeling and valuation training programs out there. This is strictly my own personal opinion and assessment of these programs, so ultimately, you'll need to judge for yourself what works best for you.

Breaking into Wall Street: Dirt cheap, and great for those with no to limited financial background. I actually was one of the first to review it and suggest some tweaks to the program, and it looks like it's been getting better over time.

Wall Street Prep: Primarily self-study. VERY tedious. You must be 100% committed to get through it, that's all I can say. I have a couple of their textbooks from an on-campus live training seminar they did one weekend-- they covered Financial Statement Modeling and DCF Valuation. Very dry, but I feel it covers the financial concepts as thoroughly as an introductory corporate finance textbook (or could serve as a decent supplement). I think it's really more for those with an intermediate background or understanding of finance.

Training the Street: Although I have not taken any of their courses, upon viewing their model templates, I feel their target audience is much like Wall Street Prep-- it's probably best for those with intermediate to advanced finance backgrounds.

The Analyst Exchange: Did all of Phase I and Phase II modules (Financial Statement Modeling to Valuation and Presentation). I think it's one of the best because: a. one-on-one interaction with a live instructor (online via Skype) helps you build a strong networking relationship with current Wall Street professionals b. you go at your own pace...the instructor will review the concept until you fully understand it c. you gain both a solid conceptual and technical understanding of key finance concepts (you know how to do it in Excel, and more importantly, WHY you're doing it) However, it's not for beginners the way Breaking Into Wall Street is. You should be advised that it would probably be best to begin The Analyst Exchange after you've had a finance course or two under your belt. It just makes the learning process go by a good deal quicker.

Ultimately, the final choice will come down to one of two factors: a. cost b. learning preference/style

Hopefully, that helps some of you decide what would be the best investment.

Good luck!

:-)

 

Explicabo libero ab deleniti repellat magni. Non corrupti nobis laborum rerum tempore labore. Eveniet dicta rerum maiores consequatur mollitia. Repudiandae assumenda facilis quo in deleniti. Ut dolorem sint deserunt ullam accusantium neque maiores. Aut est deserunt cupiditate.

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...”