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Future of balance sheet / in-between banks?
What are the best groups at places like WF and Nomura? Will they ever build up their advisory business or is levfin still their bread and butter? I'm fairly curious to know how changes in the economic landscape will affect deal flow, as well as what analyst experiences are like compared to bb/eb/mm
Thoughts on IB Data Science groups (eg. GS IBD Strats, Citi M&A Strategic Advisory)
Interested in learning more about what these groups and where people tend to exit to. I'm a CS/ECON double-major and have experience with data science and finance and am looking to go into IB and then preferably HF (best fit given personality and strengths). These groups look interesting but I want...
Reflexion: It's amazing how toxic junior Investment Bankers can be
I just hit the 1 year milestone working at my desk, and as I am entering my second year in Investment Banking I must emphasise how disappointed I am after seeing how toxic your peers can be. I joined my group at a BB in London last year along with 2 other analysts, and although I knew IB was a very...
Imperial Master for IBD Recruiting?
Hi guys, I have received an offer to study at Imperial Business school for the MSc Investment and Wealth Management programme (my only offer this year). I am very torn on going or not and would appreciate any advice as the deadline to accept is approaching fast! I graduated with a first-class...
Real Estate Investment Banking Coverage?
I have an interview lined up for IB real estate brokerage team at a big bank. It'll be my first ever IB interview and I dont know what to expect. However, I do know BIWS 400 are must knows, but thats all. To get ready for real estate industry specific technical questions, Im willing to spend up to...
Real Estate Investment Banking Coverage?
I have an interview lined up for IB real estate brokerage team at a big local bank. It'll be my first ever IB interview and I dont know what to expect. However, I do know BIWS 400 are must knows, but thats all. To get ready for real estate industry specific technical questions, Im willing to spend...
TD's acquisition of Cowen
Just heard the news of TD's acquisition of Cowen. Any thoughts on what this means for the TD IB brand in the near/long term?
2022 Analyst 1s base salaries & bonuses
Hi All - I work in business operations for a top-tier investment bank and trying to gauge base salary and bonus levels. Could you please post your firm (if want to remain anonymous, could you state if its a boutique or bulge), base salary for 1st year analyst, and 2022 bonus? Thanks!!
Where will the big money be made during the 2020's?
Where do you see finance's biggest "white spaces" in this era? Let's assume your goal is to become a billionaire in financial services, to put it simply. Let's also assume tomorrow you're given $25 Million dollars carte blanche, as well as a healthy rolodex, to assist you on your journey toward this...
Transaction Banking to IBD?
Hello, I'm a sophomore who was offered an internship at GS's transaction banking division. I was wondering what the possibility of me internally transferring the next year to Goldman's investment banking division. Based on my knowledge, internal transfers get past the "fit" aspect of the interview,...
Best playlists for late nights in the office
I am curious to know what kind of music do people listed when they find themselves in the office after midnight without MD or VPs around and no one to interrupt your work. Also any recommendations are welcome. I usually go with tech, house, dance and trance playlists: Armin Van Buuren, Tiesto,...
Chances of breaking into IB in Sydney without PR
Hi guys, I am in a bit of a dilemma here and would really appreciate some advice. I am an international student who has been studying in Sydney since high school. I just graduated from UNSW with an honours degree in Finance a few weeks ago. The WAM for my honours is 91.6 (First-class) and for my...
Macro Event Trading - Books
Looking for some good books to read on hedge funds and more specifically macro event trading strategies. Does anyone have any recommendations?
Just failed Series 79 TO and 63-how bad is it?
Made this account just to ask this, but how bad is it starting as a first year IB analyst having failed the 63 and 79? I know I have two tries before getting fired, which is also terrifying, but on a scale of 1-10 how dumb is my manager going to think I am?
Benchmark IB Salary London 2022
Hi guys, Here is a consolidated thread of comps in IB in London as of Jun-22 In £k GS: 70 JPM: 75 MS: 70 BofA: 57.5 (As of Feb-22) Citi: 70 BCL: 60 UBS: 60 CS: 60 DB: 59 BNP: 60 NMR: 60 LZD: 60 RTD: 62 PWP: 70 CVP: 80 EVR: 70 PJT: 70 JEF: 70 Feel free to comments if any mistakes ! *Base salary for...
Return offer rates
Have heard from a few different people across different banks that return offer rates will be lower this year than years past. Is this true? I know most places probably overhired given previous deal flow but wanted to get a sense of how accurate this was. Currently an intern at a BB in Nyc.
Morgan Stanley M&A
Seeking some clarification on networking and the recruiting process for Morgan Stanley. It's my understanding (reinforced by a few current MS analysts/associates) that getting a summer analyst offer at the firm is highly contingent on knowing an MD. Meaning unless you have an MS MD pulling for you,...
Life Altering Dilemma/Pivotal Decision, Give Me your take. USC vs Cornell (I swear its different)
First and foremost I would like to apologize for the heinous clickbait title. I had to get your attention somehow, and quite honestly, the title isn't far off from how I feel. I finished my freshman year at a CC in Los Angeles and was offered transfer admission to Cornell Dyson and USC Marshall...
Should I leave IB for consulting?
Hello, a sophomore interning at a BB here. After 7 weeks of training, I realized I do not like finance as much as I thought I did, and I am actually more interested in strategy roles. I see myself working in management / growth analytics in the future. I also did not like working over 70 hours. I...
US equivalents of Canadian investment banks
I am trying to gauge the prestige of the large investment banks in Canada, specifically in Toronto. Can anyone provide a list of the big firms in Canada and an American equivalent? (ie. RBC = JPM). I have a better understanding of US banks. In Canada I'm having a hard time differentiating the big 6.
Why does customers paying upfront result in negative NWC
Question 19 from M&I400 Accounting Section: What does negative Working Capital mean? Is that a bad sign? The answer says "Retail and restaurant companies like Amazon, Wal-Mart, and McDonald's often have negative Working Capital because customers pay upfront - so they can use the cash generated to...
Help me choose a college
I am a business journalist seeking an Investment banking job, with an average GPA of 3.4 for my undergrad. I am nothing but amazed by the finance world and the work that they do. Hence i came to a realization that i can apply my research skills at an investment Banking job. My target school is...
Q&A: Head of PE at Asian SFO
I head PE/VC investing for a family office based in Asia. Our firm makes direct investments across the capital structure (private credit, PE/VC, public markets and real estate). Although we are direct investors (>95% of capital deployed are directs), we regularly review fund investment opportunities...
LevFin deal flow?
With the likelihood of a recession hitting soon and debt markets drying up, it seems that the deal flow in LevFin is pretty dead. I got an offer to join a LevFin team in August/September but due to the above, I am not sure if I should aim for another team? Do you guys think the deal flow will be...
Where to Apply: 2023 Sophomore Summer Analyst
Hello, I was wondering who was recruiting IB sophomore summer analysts for 2023. I know GS, MS, BofA, HSBC are...but are there any other firms? If so, what are the programs called?
Destroy my resume for FT IB recruiting
Hi all, I'm planning on sending applications soon to a lot of investment banking full time roles. I'm coming from a non-target and I'm currently an intern at a large credit rating agency in NYC (think S&P, Moody's, Fitch). I really want to make sure my resume is perfect before I send it out next...
How to properly leverage contacts when applying for jobs?
I'm slightly confused on how I should be properly using my contacts and relationships that I've established through networking to my advantage when I start applying for full-time roles. Do I update them after I've applied or after I had my first round? Should I ask for a resume push? When should I...
Q&A: Front Office Investment Banking Analyst in India at a Bulge Bracket (GS/MS/JP)
Hey folks - so I've noticed there isn't much on the forum with respect to Front Office Investment Banking roles in India and I decided to take the initiative to have something on the web that'll be helpful to future aspiring excel monkeys.' About myself - went to undergrad at one of the old 5 IITs...
Industry Events on CV?
Just wondering if attending several events on M&A (from FT.com, various companies etc.) should be included on the CV. Feel like it's a waste not to display in the industry lol
London Bonus FY 2021-22 Thread
Let’s start a thread with comp (London based) with the following: -Bank -Rank/year -Base -Bonus -Bucket Curious to see what comp is like across the street and how it stacks up to the US/continental Europe
Intern Class Sizes: 2022 vs. 2023
Hey guys, just trying to collect some data point. I was wondering if people can share what they know of how many interns their bank is hiring for SA 2023 vs. 2022, and if you could, add in your city.
Resume advice to break into IB?
Hi all, I'm currently spending my final university-summer interning at a large credit rating agency in NYC and have a few solid non-target university leadership experiences. My goal is to break into investment banking next year after I graduate. Any advice or suggestions on my resume would be super...
Roast my resume
Hi all, I'm currently an intern at a large credit rating agency in NYC. I'm a rising senior at a non-target school. My goal is to break into investment banking after school. In my opinion, the biggest highlights of my resume would be my current internship and all the listed University leadership...
Roast my resume
Hi all, I'm currently an intern at a large credit rating agency in NYC. I'm a rising senior at a non-target school. My goal is to break into investment banking after school. In my opinion, the biggest highlights of my resume would be my current internship and all the listed University leadership...
Requesting PTO as an employment condition?
So I found myself in the mix for a couple IB roles and its looking like I will be making the jump from TAS if I get an offer. Has anyone ever requested PTO before they start? I have a trip booked with my dad as a father's day gift to see our NFL team play in October. In any other profession this...
Investment Banking during recession?
With recent bank earnings reports showing a pretty grim outlook on the IB front, is anyone else concerned about return offer rates for this summer? Considering that recessions typically last ~2 years, will next summer's SA's be hit even harder? Also, for anyone who is old enough to have experienced...
Info on Raymond James RX?
I was wondering if anyone had any insights on Raymond James' RX practice in NYC? I believe it's called Capital Structure Advisory now; any info on hours, dealflow, comp, culture, etc.?
Sophomore Internship: Hedge Fund or PE/IB?
Hi all, I'm a rising-sophomore at a target currently applying to internships for next summer. I am mainly interested in HF/PE/IB for a first job out of college, but I'm not sure about how to approach next summer: This summer (freshman summer), I'm currently interning at a hedge fund, but not really...
Charlotte IB Comp
Curious as to what compensation in Charlotte looks like for the banks that have pretty large offices there such as Wells Fargo, BOFA, etc. If anyone in Charlotte, or knows someone there, could share what bases and avg. bonuses look like across any level, would appreciate it. Also, although I assume...
Is it possible for VP or Directors to land a job in PE?
I was wondering could a VP or a junior Director in Investment Banking get a job at a PE megafund without any prior PE experience and without doing an MBA? Let's assume the VP works in M&A or Leveraged Finance (not talking about ECM or DCM)
Investment Banking Outlook
We all say the MS miss. What is everyone's outlook on IB in the coming years? Is it here to stay? Still the best spot for the best exits? Curious on your thoughts.
Rising College Freshman Would Appreciate Any Advice about IB Summer Internships
Hello, before I start, I ask that you please be patient with me. I'm a first-gen college student, who has a father that works in the trades and homemaker mother, who didn't know the first thing about finance until a little less than a month ago. At any rate, I'm an incoming freshman at Yale who is...
RBC Pathways Summer 2023 Superday
Hello All Title says it all. I have a superday with rbc next week. I am wondering how technical it will be. OR how should I prepare for it. Please someone look out and bless me.
Shall I buy a laptop for SA IB position or wait for bank to give
Hi, should I buy a laptop for my SA role in IB or shall I wait for next summer and my employer to directly give me a laptop? The reason I was thinking about this was because I have been using mac since day one and haven't got a lot of experience on windows. Thanks!
JPM Networking?
I know this has been touched upon in previous years, but wanted to know if anyone knew if JPM referrals still don't mean anything (if that was ever even really the case). I know they supposedly have a "no networking/referral" policy where its very HR driven/automated, but I find it hard to believe...
Relevant Internships for SA Investment Banking
What are some of the required internships?
Applying during a gap semester
So, I'm currently a class of 2024 (entering my junior year), but for various reasons, I was considering taking a gap semester this coming spring. A few questions: 1. If I took a gap semester this spring (therefore went from expected graduation in spring 2024 to December 2024), would I be able to...
Would you work in IB if you were in my position?
So I recently graduated from a non brand name school, going to a top MSF program in US/Europe along with pretty solid prospects to land a MM offer. Have been networking hard, have had a several month boutique IB internship and other F500/Investment Management internships, and feel pretty good about...
Do large diversified financial institutions offer more job security compared to pure Investment Banks and Boutiques?
In times like now in which IB fees are dramatically dropping (ECM down by 80%, M&A slowing down, less DCM and Leveraged Finance activity...), do Investment Banking professionals at large diversified financial institutions (Citi, JP Morgan, BoA, Wells Fargo, RBC) with a more balanced mix of revenues...
Upcoming IB Interview
Hey guys, I have an upcoming IB interview this week and was looking for advice to calm my nerves beforehand. I have had one previous IB interview and my nerves really hindered my performance as the questions were all valuation questions I had practiced before. For context this is my second SA...
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