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Boutique Bank Ghosting Me
Freshman here - Interviewed at a boutique IB firm 3 weeks ago. It went well, and he said he would contact me in the next week or 2 for next steps. I emailed him after the interview to thank him for his time. Didn't get a reply, but people told me usually people don't reply to thank you emails. 2...
CAGR vs. IRR... # of periods...confused...
Hi team - hope everyone is doing well. for some reason i am a bit confused on the difference between cagr and IRR. the formula seems to be the exact same? for LBO purposes. (final value / beginning value)^(1/#periods) - 1 I'm also confused on the # of periods. For CAGR, 2012 - 2013 would be 1...
Summer Internship Advice
Hey all, I'm a sophomore at a non-target trying to break into banking, and need some advice about which of 3 positions I should take for an internship over this summer. 1. Local boutique investment bank with small team (around 5 people) focused on M&A deals 2. Local PE shop with about $1bn AUM...
Fall Internship
I have seen some forums about advice on how to land a fall IB internship while an undergrad/graduate. However, I was curious if anyone has compiled a list of firms that typically offer such an opportunity? If so, please share!
Law School to IB
I am a 2nd-year law student strongly considering IB. I have a few years of corporate experience, recently completed a financial modeling certification, and am summering at a Big Law firm. To the JDs/lawyers in IB, please share your advice on how you broke into the street? Do you recommend earning...
Book file
Hey guys, There was previously a link to a shared folder with a number of books around investing/finance in general. Seem to have lost the link to it, could provide me with the link in the comment please? Greatly appreciated and thank you in advance.
WLB at top RX Shops
Hi all, was wondering if anybody could give insight into the WLB and culture at top RX shops. Interested in hearing about PJT, EVR, Moelis, Lazard, etc.
Should I Mention I Have An Offer During Recruitment Events?
So I have a sophomore IB offer at a JPM/GS/MS and I am recruiting at other banks (mostly though firm-wide programs) just in case things go south, I was wondering if I should tell them I have a sophomore IB offer at my JPM/GS/MS or if they will look at me like I'm "not committed enough" and just...
Enterprise Value and M&A Financing method confusion
Hi All, I got asked this question in an interview and remain confused till date - Acquirer A: EV = 2000, Equity = 2000 Target T: EV=1000, Equity = 1000 A buys T paying 50% premium, what happens to combined EV, Equity and Net Debt based on 1) 100% cash deal, 2) 100% debt deal and 3) 100% Stock deal...
Info Interviews with Former MDs?
I'm currently a sophomore at a non-target trying to ramp up my networking efforts. Besides cold emailing, I've been trying to find/leverage any internal connections I might have by asking family/friends for contacts, and my parents let me know of a couple former MDs at top firms who they knew....
2022 PubFin Discussion
Since PubFin often gets overlooked in the investment banking industry, I wanted to start a thread discussing updated PubFin information such as SA placements, FT positions, compensation data (base + bonus), benefits, and comparisons to other groups. Also, taking a look at the top Muni Underwriters...
European --> US MBA --> IBD MBA Associate in US --> Private Equity London
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IB 2023 Internship Recruiting Timeline - When Are Applications Opening?
So I know that some banks have already opened their 2023 internship applications, for example Citi, Mizuho, RBC, and Credit Suisse. However, when will the applications for other bulge bracket/boutique banks open? I want a comprehensive overview as well as when they will start interviewing etc....
Who has last word in interviews? Managers/Director/All of them?
Recently had interviews in BIG4 (KPMG) M&A Deal Advisory with two manager, and last one was with Director. Got some info that managers are very satisfied after talk with me (HR and Director said), but I had some uncertainty after interview with Director. I answered maximum I could, combining all...
Commercial Banking at BB (SA) to FT BB IB?
I know it's not a great spot for SA however, I wanted some opinions on how to leverage this internship to its full potential. I need to network my ass off to have even a grain of hope, what else I can do to increase my odds?
Bank withdrawing signed/accepted offer?
EDIT: I just had a call from the head of HR who said nothing could be done. They could offer me nothing. When I told them about the bad PR, that it meant applicants could never trust a signed contract with JPM she merely repeated that they could do nothing. Long time lurker here doing my first post....
Which Banks Sponsor International Students (H-1B Visa) 2023
Does anyone know an up to date list of banks that are still sponsoring Visas for Undergrad international students? I'm looking to recruit for a 2023 IB internship and I would like to know what banks actually sponsor without discrimination. If they sponsor on a case by case basis, please also note...
SA Internships for Senior Year
Hello Monkeys, Fairly late on the whole IB thing and I'm starting to stress out. I've had two Big 4 Accounting Internships in the past and now when I'm applying to IB's, I've realized they want more actual banking experience. So, I've been trying to find internship and co-op opportunities to get...
Structured Finance vs Municipal Finance IBD & Exit Opps
Have the opportunity to join either the Structured Finance IBD group or the Municipal Finance IBD group (haven’t discussed comp as yet). What are the exit opportunities for both and which group is better in the short and long term. I’m trying to avoid being pigeonholed.
Loan Syndications Exits
Got an offer to join a major balance sheet bank (Japanese) in its loan syndications team, primarily working on origination. I come from a credit analyst background and was told primary tasks would include pitching, structuring deals, discuss covenants etc. What would be some common exit opps from...
Investment Banking Trends in 2022
Just creating a thread to add any trends that you may notice from an investment banking perspective in 2022. I have added some trends that our bloggers have added: Trend #1 : Sustainable finance achieving new heights Trend #2 : Hefty liquidity in the market driving the M&A sphere Trend #3 : SPACs’...
Does anyone actually like their job?
Hello all, I am a current undergrad that just signed an offer for a FT IB position after graduation. After reading all the threads about 1st years quitting or having breakdowns, it makes me wonder, are there any analysts here that like their jobs? If so are you east / west coast? what makes it...
Sony/Bungie
Anyone know which banks are on this deal, and which are buyside/sellside? Would love to hear more about this!
ASO to VP
I'm in incoming Investment Banking Associate at a BB. I was wondering about ASO to VP promotion since once either get promoted or leave after 3-4 years. In the event you don't get ASO --> VP at your specific bank, how easy is the transition for ASO to leave and become VP at another bank? If doing a...
Do you believe all men are created equal? Why can some break into finance and others can't?
All men ... are NOT created equal. Others are born with more speed, some with greater beauty, some are born into poverty, and yet others are born sick and frail. Every human being is essentially different, both in birth and upbringing, in sheer breadth of ability; yes, that is why people...
What is the best time to email an MD?
Hello, I was wondering what is the best time to follow up with an MD via email. We recently connected on the phone (few days ago) and he told me to reach out again in about a week.
Investing in startups while working in IBD
Hi, so the title pretty much sums it up. Does anyone invest in small private startups as a side income stream? To put into perspective, I have received an IBD offer at a BB but before this I worked in VC and intend to continue advising and investing in tech startups. Are there any restrictions...
Pre-university undergraduate IB related experience
What are some options and ways to get relevant investment banking experience in the summer before starting an undergraduate degree at university?
Issue Solved! Thanks everyone
Thank you everyone for your help, solved my issue by lateralling. I wish deleting posts were a thing.
PE v. REPE Comp
I'm an undergrad finance and real estate major looking at opportunities for the next coming summer and the two paths I'm looking at is IB to PE or straight to REPE. I haven't been able to find anything comparing the comp between traditional PE and REPE. I know REPE is typically less hours, but how...
My associate is a brick
I am a first year analyst who just joined the firm in July last year. Got staffed on a live deal and the associate is a goddamn brick - never responds to me not matter how many times I reach out to him, zero collaboration when working on the deck and processing comments from VP/ MD, reached out to...
Securing A Return Offer As A Sophomore Summer Analyst
Hello everyone! I am an incoming sophomore ib intern at a GS/MS/JPM and I would absolutely love to turn this sophomore internship into a junior opportunity. I have no friends nor family in the industry so I am turning to WSO for advice! Does anybody have any experience being a sophomore intern and...
IB chances
Greetings, Hoping to get some help from WSO; wanting to know what and if I still have chances of breaking into IB. Im currently a sophomore at a non-target ranked roughly 50 nationally in bay area studying economics with a mediocre gpa (3.0-3.5) playing sports and have only really started to...
Workplace Politics
We all know about the workplace politics that go on in investment banking. How do you play your cards right in climbing up the ladder?
What would you have done differently?
If you were a 21/22 year old again getting ready to enter into IB, what would you have done differently to fully maximise the time you spent there?
Moving Office in BB Investment Banking - LDN to NYC
How possible is it to move office from London to NYC permanently as an BB IB analyst? If possible, how long does it usually take?, Who to ask to move office and best way to break it to them without burning bridges ? What do exit options look like for a U.K. banker moving office to the NYC ?
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MBF HSG Vs MSc in Finance Bocconi
I received offers from the University of St. Gallen and Bocconi respectively for the MBF and the MSc in Finance programmes and I still have to decide between the 2. Goal: IBD in London, or Zürich to a lesser extent Pros/Cons HSG: (+) Placement in Zürich is amazing, London not the best but looks...
Career Path Advice Please Folks
Hey monkeys, I am a junior at a non-target, majoring in finance. I have a 3.85, I am the VP of a finance club at my school, and I participated in multiple IB-related trainings and competitions. My life goal is to make it into a BB. I had a IB SA role in a regional private equity boutique in my...
Seeking advice - How can I break into investment banking from my weird circumstances
My circumstances for the most part are my own fault, I never really took my education very seriously, got mediocre grades at GCSE and A-Level and kind of coasted through until I hit a wall at university, I've dropped out multiple times before taking a break and re-evaluating my life. I've finally...
NYC Summer Analyst Housing
Where do Summer analysts in NYC typically live? How much on average would you say you should be spending on rent as a SA?
Does time still fly by?
As I get older it feels like time goes by faster - High School went by fast, University has been going by even faster. For those that have been working in IBD for a number of years, does time still feel like it goes by fast given the hours?
Highest Paying Entry Level RE positions?
I am wondering what the best jobs in CRE are right out of college in terms of pay? I know there are so many directions to go in but which companies, and positions pay the most all in?
Freshman Cold Emailing Investment Banks, Private Equity Firms, and Venture Capital Firms
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Baird IB vs. Goldman PWM
I'm currently getting my MBA. Have an offer with Biard IB gov and defense group based in DC. Also have an offer to join Goldman PWM in miami. Having a hard time deciding between the two. I like the career optionality I get with IB. But I also like the Goldman brand, better lifestyle, and big upside...
BB S&T/IBD vs Multi-Manager Hedge Fund
Hey, I am currently a senior analyst working in Risk at a BB outside the US (London, Hong Kong, Tokyo). Within a month, I will be internally moving to a team that sits between S&T and IBD working on Structured Finance, Mortgages etc. I have been very interested in Real Estate and this is a role that...
Brokerage Disclosure Requirement
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2022 Public Finance IB Compensation
I was looking to see if anyone had any updated figures for Public Finance IB analysts/associates compensation (base + bonus). Looking through some of the older forums gave some pretty broad and dated responses. My current understanding is that PF base salary is the same as other IB specialties but...
IB vs Consulting ---> FAANG Corp Dev vs Corp Strat
I'm currently a sophomore at a T10 but non-target university beginning to think about my long-term career prospects. I've been pursuing IB over the past semester or so, but am beginning to think about pivoting towards consulting since I believe the work is more interesting and better suited for my...
Why is IRR compared to COE?
Basically the title: Why is IRR compared to COE? would love an ELI5 type response, but open to anything As a follow up, if IRR>COE why is that considered an acceptable LBO? Feel free to correct anything - just a monkey trying to learn
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