Monkey to Millions | Andrew (Session 10) - The Remote IB Internship Continues and a FT Offer Awaits? - July 3, 2020

About

In this short session, Andrew updates me on how his internship is going and how he was up until 2am the night before. We go over how to avoid mistakes and the struggles of trying to check your work with no access to a printer. I also encourage him to keep his priority on getting the return offer and with any downtime to start working through the financial modeling courses on WSO.

 

Listen to the Monkey to Millions Podcast:

Apple Podcasts - https://podcasts.apple.com/us/podcast/wall-street-oasis/id1463441793

Spotify- https://open.spotify.com/show/7nQxuApNXFkUSvojQGKyAQ?si=GrYh2zIHSsub8S8…

Stitcher - https://www.stitcher.com/s?fid=413258&refid=stpr

 

Other Services

WSO Video Library (300+ full webinars and their ppt/excel files): http://www.wallstreetoasis.com/wall-street-videos

WSO Courses: http://www.wallstreetoasis.com/guide-to-finance-interviews

WSOResume Review: http://www.wallstreetoasis.com/wso-finance-resume-review

WSO Mentors: http://www.wallstreetoasis.com/wall-street-mentors-finance-mock-intervi…

WSO Events: http://www.wallstreetoasis.com/events

 

WSO Podcast (Episode 10) Transcript:

Patrick (CEO of WSO): [00:00:23] Hello and welcome. I'm Patrick Curtis, chief monkey of Wall Street Oasis. And this is Monkey to Millions, a show where you get a front row seat as I mentor young students and professionals to try and help them break into their dream jobs. In the first cohort, you'll meet four students, all preparing for intense job interviews while trying to also balance a personal life and schoolwork. The goal of this show is to shine a light on the struggles of trying to break into competitive positions with a nontraditional background and to give you a roadmap for your own success. My hope is that as you get to know these four impressive students, you're inspired to dream big. Remember, these are real people and this is their true story. Let's get to it. In this short session, Andrew updates me on his internship, how it's going and how he was up until 2 a.m. the night before we go over how to avoid mistakes and struggles of trying to check your work with no access to a printer. I also encourage him to keep his priority on getting the return offer and with any time to start working through the financial modeling courses on. So enjoy. All right, Andrew. Session. I don't know, 11, ten, 11, something like that.

Andrew: [00:01:37] Yeah. Or getting up there. See, I kind of just quick recap. No huge changes since our last call. Pretty much. She just kept chipping away at a few transactions. So we had a small. I don't really know how to describe it. It's like it is a like kind of real estate company, but it's it's kind of weird how it's based. Like it's it's not based in the country that they have assets in. So I don't know or see where things go there. But we're just putting the other like the pitch for that. So it's essentially they're going to be like they're just looking for liquidation. Be it like IPO, private sale or something like that. So it's pretty cool to look into that.

Patrick (CEO of WSO): [00:02:20] So. So you're staying busy?

Andrew: [00:02:22] Yeah. So, yeah, last night was probably my latest night. It was like 2 a.m. Nice. That's, that's pretty up there for I guess work from home. I guess my latest night before that was probably like 1230.

Patrick (CEO of WSO): [00:02:35] Yeah.

Andrew: [00:02:36] But I don't know. It's it's pretty good. Yeah, pretty much just finished off like a ton of comps yesterday, which is funny because apparently they. Done it earlier in the week. But then I guess they hadn't done it. So they just gave it to me at like 2 p.m. yesterday. And they're like, Here you go. Urgent.

Patrick (CEO of WSO): [00:02:56] No.

Andrew: [00:02:57] But yeah. Now, besides that, just. Just keep it on my DAX. Get a little bit of Excel here and there, but. Yeah, that's. That's kind of the quick and.

Patrick (CEO of WSO): [00:03:07] Dirty, are you? So this is like, what, month? Two, almost, right?

Andrew: [00:03:13] Yeah.

Patrick (CEO of WSO): [00:03:14] So you got another few months before, I guess. What's the. What's the plan again? Remind me of the trajectory. I know everything's changing. Kind of is fluid, you know, on campus or not, you know, that type of stuff.

Andrew: [00:03:26] Yeah. So still another three courses. Is it going to be online? So. I guess I can probably work full time kind of during that, I guess, depending on the job and then graduate in January. Is it plan.

Patrick (CEO of WSO): [00:03:47] And have they expressed anything like the internship in terms of. Yeah. Come on.

Andrew: [00:03:52] Nothing huge like it's. I'm having, like, a formal review next week with pretty much, like, everyone's comments on the team.

Patrick (CEO of WSO): [00:03:58] Okay, good.

Andrew: [00:04:00] Hopefully chip away or figure something out after that. But I've gotten, like, informal feedback. It's basically kind of like I'm not making the same mistakes twice usually. And hard worker. One guy said he definitely saw me becoming, like a lot more competent over the months that I was working there. So it's a good thing.

Patrick (CEO of WSO): [00:04:20] Yeah, you're getting better. You start off. Start off slow and get better is always a good thing.

Andrew: [00:04:25] Yeah, for sure. But yeah, that's, that's kind of it. I mean, I'll see where we are next week.

Patrick (CEO of WSO): [00:04:31] Because I like the stuff early on where they giving you feedback. Feedback or you're making just like silly, silly mistakes in comps and stuff like that. Like just Yeah, like checking triple checking in work.

Andrew: [00:04:39] Yeah, I was like silly, silly and mistakes like, I think one thing it was like, Oh, can we change like the company's use for these graphs? And I like didn't even change what it was like linked to, but I thought I did. Like I typed out all the info for the new stuff, but I didn't even link it. So I like it's just stuff like that. I mean, it's not nothing.

Patrick (CEO of WSO): [00:04:58] Yeah, it's that's hard to like get used to catching all that stuff because like, when you're working fast and especially late at night. Yeah, I think, like, your brain plays tricks on you, so you have to, like, train yourself to just, like, not trust yourself almost and like, print things and like, just review it at least once in detail. And almost every time you like, you'll catch something, you're like, Oh my gosh, I'm glad I didn't read that. And then you're like, Okay, I'm good now let me print it out one more time. You look through it again, you're like, Oh my gosh, like, I totally missed this. Like, so until you, like, have done that and you don't find those big errors, like, you should keep just looking at it like fresh. And that's why printing out actually is a big deal.

Andrew: [00:05:37] Yeah, it's just hard now.

Patrick (CEO of WSO): [00:05:40] Yeah.

Andrew: [00:05:41] Just given where things are because like, I think it's literally like disabled printing from, like personal computers.

Patrick (CEO of WSO): [00:05:48] You can't do it from your home.

Andrew: [00:05:49] You can't do it from home now.

Patrick (CEO of WSO): [00:05:51] Oh, that's a huge. That that makes it really hard because looking at it on a screen, you just it's not the same. Yeah, because it's like it's a totally different way to consume stuff and like, you quickly gloss over stuff. You can go and you can quickly slide like toggle through pages. The temptations to go too fast. And then you miss a bunch of like errors. Yeah, typos and all that stuff. So it's really hard to do it without printing.

Andrew: [00:06:17] Exactly.

Patrick (CEO of WSO): [00:06:19] Oh, man, that's a big disadvantage. You're going to keep messing up. I know. Yeah. I don't know what else you can do. There's no way to get the file to, like, your own personal computer. It's all in or whatever.

Andrew: [00:06:32] It's pretty. Yeah, it's pretty much just straight off the work computer.

Patrick (CEO of WSO): [00:06:37] Like through virtual.

Andrew: [00:06:38] Yeah, exactly. And, like, I don't have access to, like, the company's drive either, so, like, I can't look at past things that they've done.

Patrick (CEO of WSO): [00:06:47] Because, like, you can print out in the office and go pick it up or anything. Just not. It's not realistic.

Andrew: [00:06:51] No.

Patrick (CEO of WSO): [00:06:54] Yeah, that's tough. I don't know. I don't know what to tell you. Maybe look at it in, like, a different view. Like in. In the actual presentation mode, If it's PowerPoint.

Andrew: [00:07:04] Yeah, that's what I've been doing more and more of.

Patrick (CEO of WSO): [00:07:06] Yeah. Like, look it in, like, step away for 5 minutes and come back and then look at it in presentation mode before sending it.

Andrew: [00:07:13] Yeah, that's kind of the go to now.

Patrick (CEO of WSO): [00:07:17] Yeah. Maybe take notes of things you're seeing as you go so you can get through the whole thing with without stopping every time you see an error. Mm hmm. Might be like page 23. Fix that, and then kind of go through your notes and clean it. Yeah. I don't know. That's really hard, because typically what people will do is when there's a turn in PowerPoint or whatever, and there's like, tons of markups, you can use a highlighter. And as you go through and change it, you just mark it off with a highlighter, the stuff you've done.

Andrew: [00:07:44] Yeah, that's what I did at the last internship, and I was really helpful.

Patrick (CEO of WSO): [00:07:47] Yeah. Well, that's not easy, especially when you work until midnight or whatever. Did not. Yeah. Okay, well, good luck. So, like, you're getting a review, It sounds like it'll go fine, but you also don't know how many return offers are going to give, right?

Andrew: [00:08:04] I'm not sure. There's. So there's three, like investment banking interns between Toronto and Montreal. So I don't know if it's like one from each office for sure, but kind of see where things are. Like, I know, like the other interns, like he asks me to sometimes, like, look over his stuff. So I don't know, like, where he's sitting.

Patrick (CEO of WSO): [00:08:25] Yeah.

Andrew: [00:08:25] Or if he's, like, even thinking about coming back.

Patrick (CEO of WSO): [00:08:29] Perfect. Well, anything else I can help you with? Have you had a chance to go through any of the financial modeling stuff at all, or are you just being crushed?

Andrew: [00:08:37] I've been getting a little bit crushed here and there. Is that kind of just like straight through, like my accounts for W so that I could access?

Patrick (CEO of WSO): [00:08:46] Yeah, you should have access to the Excel modeling financial statement. Modeling course, The LBO modeling course. Although I would stay away from the LBO for now, it's not as fundamental. Yeah. For you some more advanced and then you could do the valuation modeling courses going up. Now that's like, that's kind of just relying on what you already doing, but it has a lot of it's super, super robust. It's going to have a ton on like weird of all the different types of adjustments. Yeah, and it's kind of fun because it's Nike and Adidas and like, you know, all those companies, you can see all the stuff they're doing, know, working on an M&A, the M&A modeling course, the course the DCF modeling is done, but it hasn't been recorded, meaning it's it's still probably a month out, probably more like seven weeks out. And then the M&A modeling course is being is about 80% done in terms of content development. But then again, we've got to get all the recordings done and get it up into the LMS. So yeah, probably late August, but valuation will be up in the next two weeks, like fully done. So that's exciting. So that'll be a good one. That's a oh yeah, that's a meaty one, man. Like it's going to be a lot of hours going through that. But I think it's good because you can watch it a2x speed and just crank through it and anything that's like different, you can slow it down and be like, Wait, what was that just conceptually to help you kind of figure out how to spread? I mean, I think you know, how to spread a cost, but just it may help the sections on like actually digging into different types of companies might be really helpful. Yeah, I'm going to have some adjustments to make sure you're kind of looking at it the right way.

Andrew: [00:10:19] Yeah.

Patrick (CEO of WSO): [00:10:20] Because there's a lot of funky stuff with with like a weird year end. So there's a lot of calendars or calendarsation like with the course and there's like some the foreign currency stuff with Adidas and how they're accounting for stuff versus versus Nike. So it's pretty cool. Yeah. Yeah. So yeah you can get that all through your, your account. It's you should have access if not just just paying Ivy. Yeah. We'll, we'll make sure you have it. Awesome. Anything else going on with. Schools, you know, is going to be virtual. It sounds like you're basically in like in limbo.

Andrew: [00:10:58] Yeah. Like, I feel I feel like I've kind of already graduated.

Patrick (CEO of WSO): [00:11:00] Did you move somewhere? Are you home now or what?

Andrew: [00:11:03] I was at my girlfriend's and now I'm just at my grandparents for the weekend, so. Yeah, just chilling out here.

Patrick (CEO of WSO): [00:11:09] Cool.

Andrew: [00:11:12] B.a. with school, it's like it's really weird. They won't even, like, open like the campus gym.

Patrick (CEO of WSO): [00:11:16] Yeah.

Andrew: [00:11:17] Even though, like, every other gym in Nova Scotia is already opening up. I didn't go to the gym, like, every morning.

Patrick (CEO of WSO): [00:11:23] Yeah.

Andrew: [00:11:24] They just decided to keep that close. So it's kind of kind of shitty on that end.

Patrick (CEO of WSO): [00:11:28] Yeah, because you can't go there. Yeah, and that's free if you're. You have to pay.

Andrew: [00:11:34] Yeah, that's not too bad. I think it's like 200, 200 bucks or something for, like, four months.

Patrick (CEO of WSO): [00:11:40] Okay. Not too bad. And these guys are paying you, right? The internship.

Andrew: [00:11:45] Oh, yeah.

Patrick (CEO of WSO): [00:11:48] Do they pay you overtime? Like they do some internships here?

Andrew: [00:11:52] Now it's just salary, but, I mean.

Patrick (CEO of WSO): [00:11:56] It's pretty good.

Andrew: [00:11:57] It's pretty good. Yeah.

Patrick (CEO of WSO): [00:12:00] Good. Good, man. Well, it sounds like you're doing fine. How about any of that? Any of the networking? Have you been able to keep up with any of that? Like keeping just your any of the warm leads you had, like New York or whatnot up to date?

Andrew: [00:12:12] Not too much. Kind of just focusing more on like people on my team and some of the employees on my team.

Patrick (CEO of WSO): [00:12:18] Yeah. So you're like, mingle, just get the return offer. Yeah. Pretty. Yeah, I think that's that's the right priority, I think. I mean, it might make sense if and when you get that return offer to or maybe potentially reach out to any people in New York. And, you know, given everything that's happened and the recession we're in now and less activity typically. Right now, it's kind of a tough time to be graduating. Well, you know, so if you were to delay it to next summer, might be better for you if you did want to explore potentially going to another shop like a barber shop. But if you really like it there and they seem like they have good deal flow. Sounds like an awesome place for you.

Andrew: [00:13:02] Yeah.

Patrick (CEO of WSO): [00:13:03] For sure. So, like, no pressure you can handle. She can handle the late nights and you like it there. And the trajectory is good, and you're learning. That's kind of one thing.

Andrew: [00:13:13] Yeah, for sure.

Patrick (CEO of WSO): [00:13:14] So it's all you're all doing, like real estate, right?

Andrew: [00:13:18] Yeah, It's like real estate. Renewables, few consumers and a little bit of tech here and there.

Patrick (CEO of WSO): [00:13:26] So you get a little mix. That's good. Yeah, I think for sure. Like your first. I think it's better if, like, your first job out of school, you can get a little bit of everything. Yeah. Keep more doors open. Just just makes it easier. Just in case, you know, something like deal flow dries up for whatever reason or something happens, you just never know. Yeah. Especially at the smaller shops. A lot of things can change fast, so. It's good.

Andrew: [00:13:52] For sure.

Patrick (CEO of WSO): [00:13:52] Anything else going on with you?

Andrew: [00:13:55] Uh, no, nothing. Nothing here. Just getting back into the gym. Just. Kind of enjoying my time off of work. Yeah, that's.

Patrick (CEO of WSO): [00:14:07] Time. What do you mean? Time off? I mean, you just work till 2 a.m.. Oh, you mean a weekend or whatever?

Andrew: [00:14:12] Yeah. Yeah, like. Like Saturday after I finish working in the morning.

Patrick (CEO of WSO): [00:14:18] Good, good. Well, it's good. Yeah. You take advantage of the times you have away from the computer, right?

Andrew: [00:14:23] Oh, yeah. I love it now.

Patrick (CEO of WSO): [00:14:25] Well, I'll let you and Joe, we get the holiday weekend here in the States. Yeah, I don't think people are doing too much, but I'm curious. Well, I'll talk to you offline about something, but I have some questions for you. But in terms of just other stuff, yeah, just let me know if I can be helpful before our next call. Of like, whether it's the financial modeling stuff, whether it's, you know, questions about networking. I still think you should keep some of that stuff warm. Maybe drop an email to some of the kind of better conversations you had to people with the better conversations you had kind of earlier in the year. Just to give them an update, maybe maybe you want to wait for the offer just to give them like it's the right time, you know, like, oh, thank you. And just kind of think that just keep that warm, potentially even just down the road in a couple of years. We could.

Andrew: [00:15:18] Yeah, sounds good.

Patrick (CEO of WSO): [00:15:19] All right. I'm going to. We'll call it and then. Yeah, that's it. We'll talk soon.

Andrew: [00:15:25] Sounds good.

Patrick (CEO of WSO): [00:15:26] Bye. And thanks to you, my listeners at Wall Street Oasis. If you have any suggestions whatsoever, please don't hesitate to send them my way. Patrick at Wall Street Oasis. Com. And till next time.