Don't do much posting but this site has been invaluable to me so thought I'd help contribute... Quick Background: - Wrapping up my second year at a BB Tech M&A group in the Bay Area (also summered here my junior year) - Will be moving to a role at a late stage MM Tech PE fund this summer - From a semi-target public school Feel free to ask whatever you like - happy to answer questions about IB recruiting, tech group specifics, my PE recruiting process and anything else that comes to mind. ####WSO Mentor Want to work with me? Check out my profile here(https://www.wallstreetoasis.com/mentors
07 Jul 2020
Hello all. Figured I'd use quarantine to be productive and share some thoughts with the world. At the end of the day, thankful to still be employed (hopefully) and plugging away Before we start a quick acknowledgement of the normal people who are just good at their jobs (the real MVPs) who make it all bearable. Here we go. The list below generally fits within a framework I like to use: You're either a work doer or a work creator. Be good or be be normal. If you've never been a good work doer (i.e. analyst or productive associate) chances are you're not gonna be a good work creator (i.e. VP)
09 Apr 2020
Just realized that sitting at an office for 8+ hours in my potential future might be painful for my neck and back. Interested in going to PE/IB. Does anyone know if you can bring in your own chair. I was thinking like an gaming/racing style chair. Probably would go all black so it didn't stand out. Would probably go in early or later to bring in the chair to make sure I wasn't doing it during work hours. Would my coworkers/boss shit on my for it. Its a chair so like. What's the worst that could happen
24 Jul 2020
Hey monkeys, seems to be a severe lack of talk about growth equity on this forum. Was wondering if yall could shed some light on the growth equity landscape (ie. what are the top firms? how are traditional PE firms growth arms viewed in comparison? how many spots do these groups take? do they have analyst spots or only associate? do people commonly transition from IB into GE? PE into GE? if so what groups in IB/PE are good for doing so? what headhunters do these firms use? average comp compared to IB/PE? what is work like at analyst level? what is work like at associate level?) I've never seen
28 May 2020
Anyone here read this book by Bill Keenan? Personally started this last week and am about halfway through. Pretty entertaining read, dude is a solid writer and the book is certainly a throwback to my banking days (for better or worse). Interesting to see some of the differences of working at a BB such as having to deal with credit committees vs. what you'd experience at an EB or MM where you're not doing anything off your own balance sheet, but so much of the day to day bullshit rings true. Also highlights the differences between a bank w/ a lot of outsourced resources at your disposal (e.g
07 Apr 2020
Hey Monkeys, another success story from a nontarget breaking into a BB, just to give people more insight in how to go about it. I come from a school with under 5 alums in banking. so networking was by far the toughest thing for me. I realized that I wanted to pursue banking during the winter of my sophomore year and spent every Sunday emailing at least 50 people per firm. Not sure if this is the best way to go about this but I always aimed for 10 analysts, 10 associates, 15 VP/Directors, and 15 MDs. I always tried to find something that was relatable, ex) same sport played, grew up near me
07 Jul 2020
Second year tech IB analysts at a BB bank. Happy to answer questions about recruiting (interviews, networking, applications, resumes, internship experience, etc.) or the job (culture, types of deals, favorite/least favorite piece, etc.). ####WSO Mentor Want to work with me? Check out my profile here
26 Jun 2020
I've been asked by friends in finance about breaking into tech numerous times over the past year, so thought I'd do a Q&A to share more about the experience, do comparisons, and answer any questions that you might have Brief background: - Bachelor's in Accountancy - Started in Hong Kong on Trading at a global bank and subsequently moved internally across Structuring / Sales roles in Singapore and onshore China over seven years - Currently one year into an APAC Biz Ops role at a large tech firm Feel free to ask away! WSO Mentor I'm also a WSO mentor! Click here for more information
11 May 2020
Thinking about the things you can't live without doing IB or the things that make your life easier. Like an Apple Watch? Or a great bag? Do you guys have any advice on what's a must buy "school supply"?
30 Jun 2020
I received offers for analyst from a BB (think CS, UBS, Citi) and a MM (Baird, Blair, Piper) both located in Chicago. Which would be better in culture, deal quality, exit opps etc?
23 Apr 2020
Are there first-years from other banks who have yet to receive their banker bags? I know a lot of banks hand them out during the SA internship, but mine did not (unfortunately). Thanks for the input.
12 Aug 2020
I am a first year analyst (target school grad) at a small MM East Coast shop trying to lateral to the tech IB in SF. Talked to a family friend about the realm recently, he recruited for west coast tech Summer Associate roles and just finished up an internship at Top 3. Citi came up because he almost signed there, and I think the mid-tier names would give me a realistic shot. He spoke very highly of the group- pointed out recent exits such as softbank, TCV, JMI, vector capital, said new key MD hires in the last 6 months, and said high profile deals did come their way (advising Adevinta on its
10 Aug 2020
When calculating enterprise value, I can find the market value of equity for a firm using various websites, but cannot find the market value of debt. I have been looking through the 10-K report for the firm and cannot find the factors needed to calculate it (interest, % current cost of debt, weighted average maturity). Any recommendations for calculating market value of debt? Or how to estimate it? Thanks in advance!
16 May 2020
26 Jun 2020
Hello, So I am a rising senior at a target school. Due to my Arab background, I think it would be much easier for me to land a full time IB position in Dubai. However, I would hate to have to stay in Dubai forever. I am wondering, is it difficult to transfer from Dubai IB to NYC after 1-2 years working in Dubai? Ideally, I would be landing a position at a BB, so I would have a prestigous name, just not an NYC office. Any advice would be generally helpful. THX
17 Jul 2020
I'm having trouble finding what else I can do to prove to employers that I am capable of working in IB or PE. Throughout my four years at school I worked two jobs, one part time job at a country club to pay bills (and free golf), and the other were finance related internships. I didn't have the opportunity to afford an elite target school, nor did I know what a target school was when I was 17 wanting to play professional baseball. (that obviously worked out). I graduated from a non-target school this May, and I did my first IB Internship last summer unpaid to prove that I can do well. I got
07 Aug 2020
I'm about a year into banking and ... I like it? I work at a mid-tier BB (think CS, BAML, Barclays) and I really love it. Obviously, I understand that some people don't like the hours, but for whatever reason I really enjoy the culture of my firm and the work that I do. I feel like I could stay here for the next 20 years of my life and try to just work up the ladder but I'm getting so much pressure to leave from my parents and friends at school and enter private equity. I may sound like a pretentious cuck saying this but I'm not really sure what to do and wanted to get some impartial outside
13 Aug 2020
A friend sent me an old modelling test he had to complete for a BB a few years ago so that I could practice but I am having trouble with it (Balance Sheet wont Balance, not sure if margin assumptions are right). Would anyone be willing to take a look and see where I am messing up or what I should change? It's not super robust, very simple for someone who knows what they are doing I am sure. I don't know how to attach files here so I can send it or someone can tell me the best method. Would really appreciate any help.
17 Apr 2020
Hey everyone! As the title says, I was recently admitted to Yale and Princeton for fall 2020. I plan on pursuing a B.A. in Economics at either school. I plan on pursuing a career in finance (hopefully IB) after college, and I really don't know which school positions me better for recruiting and in terms of career opportunities. I would appreciate any insight you guys could offer as I make this tough choice. For context, I was also admitted into Penn CAS and waitlisted at Harvard. Thanks in advance for your replies!
28 Mar 2020
Hey Everyone, The strongest alumni connects I have are from C&R and HC at BofA. Can you guys please speak on any insight you have about these groups. From them I heard you can expect to work long hours in both compared to other coverage groups. How do exit ops and culture compare between the two? From what I have heard C&R is more work hard? Any thoughts would be appreciated.
22 Jun 2020
I am a rising senior @ NYU Stern I have a decent resume with multiple VC backed startup internships Due to covid i do not have an internship this semester (No IB summer internship) I have good networking connections, and can reach multiple people at each bank id be applying to What are my chances of getting a full time offer from IB with my low GPA and no internship?
11 Jul 2020
Hey Everyone, I was wondering if it is beneficial to take the CFA level one in college. I want to go into PE and will be interning for a BB next summer 2021. I was thinking about taking the CFA level one to add to my overall resume. Would this help me when it comes to PE recruitment or just help in general?
30 Jun 2020
This question is for those of you that actively seek out buyers and market your clients for sale. How do you get started on the process? For context, I'm on the valuation and transaction advisory team at an accounting firm. We typically advise clients on the reasonability of offers they receive and conduct DD for M&A. However we just got a client who's motivated to exit and we would like to take this company through the entire deal process. My superiors think this is something we should already be doing, but we have not done it historically. So how would a typical MM IB go about identifying
05 Jun 2020
I know this has been asked a lot before but I wanted to get a more recent perspective about IBD in Chicago as I am interested in moving the after graduating. Excluding the BBs and EBs, what are some good shops? Is recruiting as competitive as New York or is it easier? Is pay the same? What about exit ops? Thanks!
09 May 2020
Hi WSO, I basically received offers from all the offers listed above (Credit Suisse NY vs. Morgan Stanley LA vs. Lazard Chicago (Rx)) and need advice on making an educated decision. MS has the brand name and is a generalist program; my favorite city is NY and I get to choose my group (FSG, M&A, LevFin, etc.); I really like the smaller size of boutique and my favorite division is restructuring. What would be best is my long-term plan is to exit to a PE MF? *Quick background about me: Diversity, East Coast Target, 3.8+, few internships in corp. dev. and wealth management in freshman and
18 Jul 2020
This program is for low income first gen kids which provides you with full rides to the top school you rank. I can rank 12 schools Obviously I know I can rank ivys first but they are so random I would perter a school that's not a ivy so I have a better chance of acceptance And also a school which has a location similar to New York This is the list of schools **Amherst College Boston College Bowdoin College Brown Univeristy California Institute of Technology Carleton College Claremont McKenna College Colby College Colgate University Colorado College Columbia University Dartmouth College
04 Aug 2020
Hi Everyone, I know that there have been multiple discussions about bonuses, but they all seem to be filled with spam. I am seeing people say that they are receiving $0 bonuses as first year analysts at BofA, MS, JPM, UBS, CS, Citi. Is this true? What was your bonus this year? If you haven't received, what is your projected bonus? ######Please Post Using This Template: BB: Top Tier, Mid Tier, Bottom Tier, Position: Analyst 1st yr, 2nd, Associate, etc Bonus/Projected Bonus:
27 Jun 2020
Hi there, I am 21 years old who has just finished their undergraduate studies and had always had in my mind to jump ship to a better firm as soon as the opportunity arises. However, the boss and the person in question who hired me, has been highly manipulative from the start, including delaying my start date for 4 months, when I started it has been non-stop abuse such as belittling, getting in mine and 2 newer colleagues faces also and calling me various swear names, insults, putting down my work ethic despite, him telling me I am a high performer and before I starting that I will be the best
01 Jun 2020
SA 2021: have two exploding offers and not sure which one to take. BAML Levfin v CVP Healthcare. Both in NYC. Got accelerated for both through network/diversity events.
18 Jun 2020
Any feedback very appreciated I'm originally from _____ and growing up developed an interest in finance because my dad loved watching Mad Money with Jim Cramer and I found his show pretty entertaining so I started paper trading. I also became interested in computer science through high school. So I wanted to pursue a career in algo trading and went to college at_____ to study cs and finance. But I quickly realized I was a lot more interested in corporate finance than higher-level cs classes. I first got interested in investment banking when I interned at ___ in the ______. Although I found the
16 Jun 2020
I am a female student at a semi-target school. I am hoping to pursue an internship through the diversity pipeline. I was wondering if investment banking or sales and trading is better suited for women? Which career has more women? Which career do women usually have more success in? I've heard S&T is very fratty and women shouldn't pursue it. Where do you think women fit in best in finance?
20 May 2020
Hi everyone, Just wanted to get some insights/opinions/insider information on: - When are bankers returning to the office? - How long is WFH going to last? I think many incoming analysts and/or junior level bankers would like to get at least an idea. Thanks a lot!
02 Jun 2020
What are some investment banks that are dedicated or specialize in areas like clean technology, green energy, sustainable businesses, etc.? Nomura Greentech and Green Investment Group (Macquarie) are two big ones but are there others? What is it like working for one of those banks as opposed to others? Are they easier/harder to break into? Do they recruit for more technical backgrounds?
01 Jul 2020
Find out about a superday decision Friday and I can't avoid thinking about it, also that will determine whether or not I transfer. How do I avoid not going crazy?
24 Jun 2020
Hey Monkeys, Long time lurker here, so I'm currently a student at a no-name school, guaranteed none of you have heard of it no alums in banking. In high school, I took a lot of AP classes and came to my current school with the option of graduating in 3 years which I decided to pursue, realized I enjoyed IB and cold-called like there was no tomorrow, miraculously I got a position at a mid-tier BB and know I will be placed in one of the worse groups that are known to pigeonhole analysts for next summer. So I was previously planning to graduate in 2022 but now am thinking I want to spend an extra
15 Jul 2020
How do you guys think the workplace in investment banking will change after things maybe get back to normal? I know some industries expect more flexibility in terms of allowing some employees to WFH on some days and come in on others. Since IB is unique in the way of analysts roles, do you think there will be any changes in terms of coming into the office or anything else? I've talked with some bankers who've expressed that they are just as efficient at home. Do you think there will be changes to office configuration like having desks more spaced apart? I'm curious to see what changes your
30 May 2020
Hi, I wonder about the job oppurtunites a MSc in Finance would be out of these universtites: - Master in Finance from Imperial. - MFE from Said Business School. - MFA from LBS. I am interested in IB, HF and PE. My interest have always been in HF but starting in IB at a bank would be a great start in my carrier. And thereafter move to HF after a couple of years. I wonder what my chances are at GS/MS/JPM in London. Do they recruit from alot of students from Imperial? If I cant land IB at those what other oppurtunities do I have? Thanks,
23 Apr 2020
Hello everyone, I recently got accepted to a BB bank and I could not be more excited. I read online that background checks can be incredibly thorough. The issue is I contributed to a scam company called New York International Capital. It was an unpaid internship, but work was given to us and it was actually quite frequent even though the internship was remote. I put it on my resume, but it was not even brought up during the interview because it was throughout my freshman year and my future accomplishments overshadow it. Recently, people who I know who also worked there showed me this daily
30 Jun 2020
I'm a engineering grad from a top public university in Texas. Graduated last year and started as an Middle Market A&D Analyst at a boutique in Houston. Have a small team but great deal flow. Past 2 year comp per title was significantly higher than Wall Street. Our hours are pretty relaxed as well, avg. about 55-60 so overall a pretty good deal. However, I've always wanted to work at a larger bank mainly for more exposure and future opportunities in PE/Corp Dev. I've only been working at my current firm for about a year, is it still worth trying to get into a BB or a well known bank? I do have
20 Jul 2020
Hi, Hoping someone could point me to which macros to use. I'm aware of TTS and Macabacus, but know TTS is no longer offering there's at least online and Macabacus costs money. I was wondering if anyone could send the TTS version.
12 Jul 2020
Hey guys, I recently got accepted to Mccombs at UT (in state) and plan on majoring in finance. I got into UCB for the Global Management program as well. GMP at Berkeley means that I am a direct admit into Haas. This would give me a Bachelors of Science in Business with a global management concentration. I would like to try and get a job in IB or consulting. I plan on doing an MBA after a few years of experience as well. Cost isn't a major factor. Thanks.
10 May 2020
Hey, After you finish your masters in London, you still apply for the SA roles right? Does anyone know about 2021 cycle in London? I saw many 2021 threats but I guess they concern US recruitment. Any help?
08 May 2020
I've recently been admitted into NYU CaS but not Stern. I want to go into finance/IB after undergrad and have heard recruiters heavily prefer Stern grads over CaS grads. I could try internally transferring into Stern but from what I've heard that's near impossible and even Stern students have a hard time competing for IB jobs let alone non-Stern. Of course, NYU is still NYU and NYC and still NYC with all its finance opportunities. How true is all of this? Please be blunt, I don't want rare success stories but the realistic truth. My alternative is saving around 20k and going to my state school
25 Apr 2020
Class of 24 Cornell ILR. Extremely excited that I got into a target school for ib. I'm a little confused now about what I need to do to prepare myself for ib. First school. People have told me mixed opinions about Cornell ILR. Some have told me to transfer to ECON or AEM asap. Other people have told ILR places pretty well into IB (Linkedin), and I will have the ability to get a pretty high GPA and take a lot of business-related courses. Second Internships. What internships should I be looking to get my freshman and sophomore year? What should I avoid? (IB-boutique, PWM, PE?) Three ECs. Current
15 May 2020
Hello - I'll be in an esoteric DCM (ABS/CMBS type) group starting FT at a top BB in the next few months. I am excited about the role. However, I can see myself wanting to switch to corporate IB in order to do work that is more modeling intensive and advisory heavy (I understand that's more at a senior level, but you gotta start somewhere). I understand there is almost no skill set overlap, however, I was wondering: 1) Would it be realistic (with good reviews) to lateral into IB INTERNALLY after 2 years IF I'm willing to start over as 1st year? 2) How tough would it be to go from a top BB name
20 May 2020
So I'm a current Canadian high school senior, and I am going to be enrolling at a UK target uni for accounting and finance. However, my end goal would be to work in the finance sector in NYC. I don't want to be a quant, so are there any masters in finance programs that place into IB in NYC, or should I take the path of least resistance and after university do my analyst years in London and then do an MBA in the USA.
29 May 2020