Silver BananaTopicReplies
+1Change in NWC: WC as % of sales, or Change in WC as % sales?Thanks for taking a look at this - see below for quick summary. Very high level model. Have 2016/17 balance sheet, no balance sheet projections. Need to know what to use as driver going forward. In driving Change in NWC impact going forward, do you: A) Take WC as a % of sales each year, then us...2
+3Top Bank vs. Top MF I am fortunate enough to have gotten SA offers from a couple of top banks (2 of PJT RX/EVR RX/Moelis LA) and a top MF (BX/SLP/Bain). My goal is eventually to get to a top HF. Is there an advantage to any of the potential options? Or should I choose based on fit? ...5
+9How is it possible to have a negative EV?So the answer is that a company has more cash than the market value of equity. That makes no sense because the market value of equity takes into account cash, thats why you have to subtract cash from enterprise value in the first place......68
+5College loans are "good debt"?I was talking about this with a friend at lunch today. He claimed that it was good debt for people fresh out of college to have as it helped their credit score somehow and he said the interest was tax deductible. Since most kids don't have mortgages it's not bad to have college debt, is this true? ...44
+1How important is reading/speaking spanish to LATAM EM trading?For EM trading in NYC, how important is speaking/reading the local language? If you only speak English, how is your career affected?...4
+1Millstein & Co InfoHi, wanted to get some insights on the firm. i had an interview with them recently, and wanted to learn more about them. - What is their interview process like? Cutoff GPA? etc. - What is the reputation of the firm? - How big is the SA / FT class, and what is the return offer rate? - What schoo...1
+8What Is Your Favorite Finance Social Media Account (Parody Accounts)When I'm not pumping up my leverage ratios I'm peeping the Instagram to stay hip with the young kids out there. What are your favorite accounts to follow for a good laugh? Shout out to my man Litquidity on Instagram but I'm trying to diversify my porfolio a little bit here. I need some fresh mat...34
+1Indepth office model I remember there being a dropbox/google drive that someone posted a while back with a bunch of different models. I'm looking for an office model with lease roll and renewal probability. If anyone could please send one to me or send me a link to the google drive that would be extremely helpful....1
+10Be a WSO Social Chair & Help Host WSO Meetups in Your City We've been getting more events going on lately (Atlanta & NYC this month) and want to keep the momentum going! We are looking for 1-2 WSO members in major cities across the world to be social chairs to help organize WSO meet ups / happy hours. Email me ([email protected]) to get an event ...115
+2Baird Montage Summer Analyst Interview HelpI couldn’t find a thread on the Montage Video Interview for Baird and was wondering what I should expect going into this next week. It’s my first IB interview, and as a freshman I haven’t had any relevant coursework to help prepare for difficult technicals. I just wanted to know if these a...6
Perella Weinberg Partners - Interview - Generalist
+36Are rich people ruining America?Hey monkeys, Just like the title says, [are rich people ruining America?]( The article claims that the future potential of the children of low-income Americans are being diminished by upper-middle-class Americans. Why? ...117
+2How much do traders at large firms get to trade with?I'm a long time lurker (2yrs) and I haven't seen this question covered on here: How much does a first year commodity trader at one of the majors (Trafi/Glencore/Vitol) get to trade with on a daily basis? Monthly? How much does a **physical** commodity trader at one of the major (Trafi/Glencore/V...8
+1How is recruitment at Brown?Any Brown alum here who could speak to how strong recruitment is? Is it as strong as other ivies? Thanks for any input. ...1
0How to Play Golf For Beginners?Golf is great and difficult at the same time. There is no way to avoid the way that golf is testing, and new players will quite often battle for a timeframe before they begin to gain ground. Additionally, the cost of beginning in the amusement can be restrictive for some potential new players. Betwe...1
Singerman Real Estate
+2Greenhill -- Reputation / ExitsHave been reading here recently that they are on a decline. Can someone confirm? How does it compare to the other EBs, e.g. Moelis, Evercore, Centerview? How are the exits? How is the restructuring practice? How many SA per class? Target schools? Thank you...5
+10Real Estate Job Market - What's the Temp?Have been looking to make a lateral transition in the institutional acquisition/asset management space for some time now (analyst/associate level). Turned down a few offers towards the end of last year think I could get something better, it feels like the opportunities are definitely a lot lighter n...27
+5Biking to my job in Chicago- Need input from the Chicago monkeysHey everyone- I've accepted a job at a trading firm in Chicago- I'm looking at housing and would like to know your guys' input. I have two choices- I can live in a 4 bedroom-3 bathroom apartment (roommates are taken care of by the apartment complex) that's a mile away from the firm. I can ...29
+4Lagavulin 16 vs Laphroaig 10Hey all, Bunch of celebratory occasions coming up for me and my family, and I'd like to buy a relatively nice bottle of scotch for us to share. Which do you prefer: Lag 16, Laphroaig 10, or something else? Generally speaking, we all like peaty/intense whiskeys, and I'm thinking of getting some ci...16
+1Lateral Unlikely - Is MSF the answer?Hey all, I am a long shot that recently broke in at a very small regional boutique (extremely low GPA, non-target, late interest in finance - hustled and networked my ass off to get a gig). Although I am extremely grateful to have made it this far and I enjoy the work, I am not completely sold o...1
+1I am not going through with my FT acceptance with Big 4 to pursue Finance.. what will happen? (Will I owe them??)So I did an internship with a Big 4 and then accepted the FT offer for next year. They have paid for my CPA materials and have given me the signing bonus for accepting the FT. I no longer want to pursue Audit and am going look for a finance position elsewhere (since the Big 4 here only have audit/ta...1
Credit Suisse - Salary & Bonus - Oil & Gas
0Should I apply to the position I'm most qualified for or the one I want? (Morgan Stanley)Hey everyone, I just recently found this website and have found it truly informative and helpful. As a recently graduated senior from a non-target school about to start a one-year MBA program (same school) I had a question about a potential job opportunity. On my school's website there are two...4
+20Non-Target Recruiting Guide Part I: Resume and NetworkingHi everyone, I just accepted an offer for the summer of 2019 from my dream group at a BB. This website has been invaluable to my recruiting efforts both in terms of interview preparation and networking. I wanted to do my part and write what I feel is a solid and broad guide for freshman at non-co...11
Credit Suisse - Salary & Bonus - Oil & Gas
+11Morgan Stanley Plans to Boost Junior Banker Pay as Much as 25%Interesting to hear about the quicker promotions. I know some BB's started the 2 years as an analyst before promotion a few years back but surprised MS apparently wasn't one of them. Anyone think we should be seeing pay increases for juniors across the street similar to 2015? https://www.blo...39
+32018 Macquarie Infrastructure & Real Assets (MIRA) Sophomore Outreach Has anyone else applied to the 2018 MIRA Sophomore Outreach in NYC? Does anyone know how helpful this program is to 2019 recruiting?...37
TD Bank - Review - Risk Management
TD Bank - Salary & Bonus - Risk Management
+5Evercore RX Interview (Summer 2019)- ...23
0Ended up in Global Securitized Products for the summer, Best advice for full time recruiting?———————-/——————————————————————————————————————- ...0
+6Is IU-Kelley a target school?Undergraduate (Finance) Regardless IU-Bloomington's overall ranking in the nation, I have heard great things about Kelley as it's one of the most valued and highly reputable for employers. Would that all be true? How about their professors and teaching staff, teaching methods, internship programs...29
+1Board Member CompensationHi all, I raised capital and I have been working on a roll-up strategy for past few months. My partner and I are putting together a board of credible folks to help give us additional credibility. I was wondering what the typical comp is for board members? We were thinking of a small amount of opt...1
Citigroup - Salary & Bonus - Investment Banking
General Electric - Salary & Bonus - Energy
+43A controversial “portfolio theory” of career planningHi all. I posted earlier (about [reflecting on six years following a career change]( and got treated to a fascinating discussion — thanks to the questions raised by all of you! In that discussion, some thoughts ...17
+1Industry Research ReportsFellow monkeys, What sources do you use when conducting your industry research/market outlook? My team currently uses IBISWorld and am looking for other options. If you've used IBISWorld and other resources, how does IBISWorld stack up against your other sources? ...1
0SAT Score for consulting Do SAT scores make a big difference when applying to a top consulting(BCG, McKinsey)? I'm at an ivy and was a recruited athlete so SAT scores were irrelevant. I have above 3.7 with two quant majors but I have around a 2000 SAT score. Would I still get an interview? I don't get why a test I took 4 ye...4
CIBC World Markets - Salary & Bonus - Global Markets
Optiver - Interview - Derivatives
AMP - Interview - Risk Management
Ernst & Young LLP - Review - Insurance
Ernst & Young LLP - Salary & Bonus - Insurance
+2GS AFGAnyone have advice on Goldman Sachs NYC Financing group? Which is the top group within financing?. Any idea on exit ops from the financing groups and if it is possible to summer in financing and move fulltime to classic? Any info would be appreciated....3
+1HOW?? Big 4 back office to FT consulting roledeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedeletedelete...1
BMO Capital Markets - Salary & Bonus - Generalist
+1USC vs. UNC for financeI'm having a real hard time deciding between the two. I prefer UNC for various reasons (cost, location and college feel), but I am not guaranteed to enter the business school. USC on the other hand would be great, because my credits would transfer easily (I am a CCC student) and I am guaranteed to a...1
+1Call and Meeting Targets In SalesCurious to hear what the call and meeting targets are like in a sales role at a bank, either PWM as an advisor gathering assets, or in equity sales. Currently in an AM sales role at a vendor, and have a feeling our call targets are not very high, but would like to compare. Thanks...1
resolution economicsResolution Economics provides sophisticated economic, statistical and financial analyses, forensic investigations, forensic technology, dispute advisory, expert testimony, and specialized technology and analytic solutions to leading law firms, Fortune 500 companies, and government agencies. Found...
+4Moelis LA vs Moelis NY vs Lazard NYHi, First-time poster here. Just wanted to get some insight on the above decision I am making. In regards to Moelis LA, some current information would be helpful. What is the lifestyle/culture like in comparison with the other firms mentioned (I know they all work hard)? How is dealflow at e...10
0Deriving a PT from FCF yieldHey there, I think I'm missing something basic here. I'm familiar with deriving a price target for a stock based on things like EBITDA multiples, but I've seen people say things like "At $N EBITDA and a X% fcf yield, the implied price is $Y/sh for a Z% upside." What is the math there for deriving a ...4
0Difference between Asset Management and PWMWhat is the exact difference between the two terms: Asset Management and private wealth management? PWM people do not manage assets or what? What is Asset Management? Asset management is the direction of a client's capital and securities by a financial services company such as an investment b...45
+1Commodities desk: Trading/Structuring/Sales -Anyone can explain the difference for each?Hi, I wish to understand the different functions of trading/structuring/sales in commodities trading desk in an investment bank. Any experienced people can explain to me the usual job scopes/daily tasks for each of the above mentioned roles? Thank you! Also, how does trading in commodities in ...2
0Portfolio Construction DirectorAbout the PositionGuggenheim is seeking an exceptional, versatile investment professional to join its Fixed Income Portfolio Construction Group (“PCG”). Reporting to the Head of Strategy of PCG, this person will work broadly across multiple teams involved in the investment management process to ...
0Global Investment Research, Tactical Research Group, Vice President / Associate – New YorkMORE ABOUT THIS JOB GLOBAL INVESTMENT RESEARCH From macroeconomic forecasts to individual stock analysis, our team develops tools and insights to help shape investment strategies for clients and the firm. Our analysts work on client-focused research in the equity, fixed-income, currency, and commodi...
0Market Risk Analyst At CoBank, the Market Risk Analyst is a member of the Enterprise Risk Management (ERM) team and analyzes and reports on the balance sheet’s interest rate risk, supports the development and continuous improvement of CoBank’s risk management modeling practices and participates in stress t...
0Capital Markets Analytics LeadAs part of the Market Risk Management Infrastructure development project, and ongoing build out of our Market Risk Analytics team, the Capital Market Analytics Lead will be responsible for: Model development, data preparation, research and analysis to ensure appropriate capital markets position dat...
0Treasury AssociateAs a Treasury Associate, you will: Verify, analyze, and dispute, if necessary, all margin calls and recalls prepared by the team for Repos, Futures, Cash, and Derivative trades Ensure proper funding of all trading vehicles in order to meet margin calls Arbitrage interest rate spreads among differen...
0Analyst - Park Hill Private EquityIMPORTANT NOTICE: ​In order to be considered for this position, you MUST attach your resume. Additionally, we recommend that you do not attempt to apply using Safari; we suggest using Chrome.Firm Profile: PJT Partners (NYSE:PJT) is a global advisory-focused investment bank. Our team of senior prof...
0Commercial Mortgage OriginatorM&T Realty Capital Corporation is a full-service mortgage banking company that specializes in providing competitive financing nationwide for commercial properties, including multifamily, healthcare facilities, office, industrial, retail, and student, senior, and military housing. As a wholly-own...
0Market Risk ManagerThis is a great position that offers the opportunity to broaden your risk management expertise and gain exposure to a variety of business areas.  Job Description (Primary functions and Essential Responsibilities): Assist with the task of measuring and reporting on credit spread, interest rate...
0Associate, Investment Banking - TMT (San Francisco)We are currently seeking Associate and Vice President candidates for multiple opportunities available within Cowen's Investment Banking, TMT team in San Francisco. The firm values individuals who are demonstrated team players and can interact with all levels of the organization.  Successful can...
0Investment Risk Reporting AnalystPRIMARY PURPOSE OF THE POSITION The Investment Risk Reporting Analyst role resides within the Investment Risk Management (IRM) group and is a member of the Investment Risk Reporting team. The analyst takes a leading role in the specification, creation, quality control, analysis and distribution of r...
0Fund Accounting AssociateCrow Holdings Capital – Investment Partners seeks a Fund Accounting Associate to support and work very closely with the Investment Strategy Team to provide required fund accounting and reporting. Roles & Responsibilities: Prepare periodic fund reconciliation reports for P&L, NAVs, and...
0Business Analyst- Enterprise Content ManagementReporting to the Solutions Manager, the Business Analyst - Enterprise Content Management (ECM) drives business solutions within Withum’s Firm Administrative and IT teams through technology innovative initiatives.  Additionally, the Business Solutions ECM acts as technical r...
+1Evercore M&A Interview After speaking with several people across firms as well as on this forum, I've heard that Evercore has historically been notorious for extremely technical interviews. How accurate is that for summer analyst interviews and is that still the case? Is there anything I should be doing outside of the gu...1
+1Debt/Equity financing and financial statementsHi guys, Just had a quick question please. 1. If a company raises finance through equity, does this show up in any way on the income statement. I understand it'll be under 'Share Capital' under Shareholders Equity of the balance sheet and that it'll increase cash flow from financing and so n...4
+1Healthcare Investment Banking BB bankHi, Am new to WSO. Have interned in a top 10 UK bank and am now looking to move to a BB in the healthcare team. Am trying to brush up on healthcare specific valuation methods - specifically for: 1). Pharma (am thinking just normal multiples, dcf etc for big pharma - as ultimately they are lar...16
+2PJT SA vs Moelis LA vs EVR M&AHave offers from 2 out of 3 of these for summer analyst positions. PJT and EVR are in NYC. How would you decide between these in terms of exits, culture, comp, etc. ...8
+2CT shirts sale soonWhen does ct do their shirt sale when they are like 30 or 40 bucks a shirt? Will they do this within the next few weeks for interns?...6
CIBC World Markets - Salary & Bonus - Sales and Trading
Pure Canadian GamingEntertainment, Hospitality, Gaming...
+1Accrued ExpensesHi guys, Would appreciate your help on this one please. Under CASH-BASED ACCOUNTING, if accrued expenses or accrued revenue increases by 10, how does this affect the 3 financial statements. I understand how it would affect the statements under accrual-based accounting, not too sure on the ...3
PwC PricewaterhouseCoopers - Interview - Assurance
+2Goldman NYC vs. Moelis LA vs. JPM NYC vs. Moelis NYC Hi guys, Just wanted to solicit some advice. I'm currently looking into opportunities for the summer of 2019 and am fortunate enough to have offers at 3 out of the 4 places listed (Goldman NYC, Moelis LA, JPM NYC, Moelis NYC). Does anyone have good insight into where I could potentially get the ...20
+6HL RX vs Evercore RX vs PJT RSSGHey you all, Hoping to get some help deciding on what to take. Fortunate enough to have an offer from two of the three above groups (RX for HL/Evercore/PJT) and wondering if anyone could give some information about them on the following attributes (leaving it open to all 3 for anonymity and to make ...33
+1Why would a company offer tender offer?i was just wondering why a company (or fund) does tender offer? If I understand correctly, they do it to buy back shares from the existing shareholders by paying them premium, right? What's the rationale behind it?...2
+1Deadend Career in Bank TradingAlgo trading / systematic trading are all dead end career in bank. Why? you can’t hide your strategy if it is systematic and other people will steal your idea. Your work won’t get recognized and your pay will be peanut. Solution? Go join buy side. Sell side systematic strategies and algo t...2
+3Does city location matter if you're at a top BB/EB?Will NYC always have more prestige? How easy is it to transfer offices at BBs/EBs? What about PE recruiting from other cities? Will headhunters still reach out or do i need to take initiative?...19
+2Bulge Bracket Drug TestRecently accepted an offer at a bulge bracket in NYC for next summer, and I wanted to find out if they drug test. Does anyone know which bulges drug test their incoming interns and which don't? PM me if you wanna know which one I'm referencing specifically....5
+3What is a trader's objective and how can they justify not speculating?Hi, Probably a really stupid question but struggling to get my head round it. Obviously the Volcker rule puts restrictions on banks to prop trade, or more broadly take speculative positions. But how exactly does this work in practice? As a market maker you have to hold inventory. If a client o...6
+2Few Contacts in New Location -- How to Network for FT?Posting from a throwaway account. Coming from a top school and tried to get NY banking for SA but didn't. I was very fortunate to get a great lower bank on the West Coast. All my contacts and networking was done for NY however, so I barely have any West Coast contacts. Planning on killing it for ...6
+9Associate vs Analyst Work BattleHow is work divided between associate vs analyst at your bank? What is the norm? Do your associates make slides or do models or do they only open pdfs and mark them up? At my group, some associates will help out analysts in excel/ppt when busy but others will refuse to do so entirely. Certain...11
+1Useful/neat resources for on the job?Not looking for interview guides or anything’s like that, more like macabacus, logointern, or anything that might help with day to day work in IB/PE. Thanks in advance for sharing...3
+1Accretion and dilution - what does it mean high levelI'm a bit confused on the concept of accretion and dilution. Basically, what I can understand is that an M&A deal is considered "accretive" if post-merger the earnings of the company are higher than previously, and it's considered "dilutive" if the earnings are lower. But wouldn't pretty much any M&...2
+5What is your opinion where we are in the cycle and how is your firm preparing for the next 12-18 months?I'm curious what everyone here is thinking about the state of the market. On the commercial lending side, we are currently experiencing a significant drop in spreads on new debt deals and the intense pressure coming from life insurance co's. It seems a lot of the project loans i'm seeing across my d...6
+1Looking beyond PE (public service or coding/tech or both?)Am fortunate enough to have an offer to join a PE firm in summer 2019 as an associate. It would be a 2 year program with potential to stay on as a third year senior associate. (currently 8/9 months into a FT IB analyst stint) I know I will love the diligence/analytical/investing aspect of the ne...1
+1IB Books - Debt/LevFinHello fellow Monkeys, I am currently trying to build my own collection of finance related books. I am currently looking at "A Pragmatist's Guide to Leveraged Finance: Credit Analysis for Bonds and Bank Debt" and would appreciate if anyone has it in PDF. I can probably help with few of the books I...2
NextEra Energy - Salary & Bonus - Risk Management
+1The way out of my undergrad... ...1
+3Questions about Analyst to Associate promotionsHey everyone, I will be joining a "low-tier BB" (WF/DB/RBC/UBS) in NYC as a first year investment banking analyst in the M&A group this summer. So I'm from a non-target (top 20 US News liberal arts) school and I can count the number of alumni in PE on one hand. Our alumni who work in PE are all at l...1
+3JPMorgan 2018 IB Launching LeadersJust thought I'd start a thread for this as they begin sending out invites. Feel free to update this with offers, interview experiences, etc....34
+1For a 30 year old, is a BS in computer science a better route than an MSf from Georgetown university?Need advice: Experience: - 3 years financial forecasting experience in a condo association management company. - 5 years experience investing in personal stock portfolio (including options). - 1 year computer programming experience in c++, python, data structures - I've taking statistics cl...1
+2Investment Sales vs SaaS/Industrial/IT/Automotive SalesHi everyone, This question likely comes from a different background then most of the folks here, and I am not certain I'll find the right answer here, but I'd love to the get the input of you incredibly talented folks on the cre sales side. I am getting a finance degree, but my passion and exper...1
NextEra Energy - Salary & Bonus - Energy
+2Deutsche Bank Rise Into Success Event 2018I just received an invitation to this insight program. Is anyone else going? (We can make a groupme)...6
BlackRock - Interview - Asset Management
+4Mckinsey interview on hold-- has anyone had this? Hi, So, I recently have been going through the McKinsey New Ventures interview process for an analyst role as an experienced hire. After R2 interviews, I received a call from the recruiter to give me interview feedback. Overall, they said that I had done okay, (not amazing but well). As next ste...6
+2UK Corporate Broking. Any insight?Hi guys, Any insight about corporate broking divisions in IB? Hours, Comps, daily Job (Modeling skills needed), Exits etc.? ...8