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Investment Banking Summer Analyst - Ask Me Anything

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Original post by gr8wizard10
very good, went to see some street performances and a boat road on the Thames, then a stroll through southbank before I had to head back to work for a call.

be curious to learn, ask lots of questions, network with people (go out for coffees/lunches) and just enjoy your time really.. you don't have much pressure at your stage


Cheers mate
Reply 41
Avatar for KLL
KLL
11
Original post by gr8wizard10



a lot seem to think we aren't leaving the EU and it's just a political play

ordered a pizza last night and ate at desk, so far had no downtime and been kept quite busy so in the days ahead I may give you an indication

Can confirm this, few think a Brexit is gonna happen. It's just so unreal and irrational, many struggle processing it.

Won't recommend making fast food dinners a habit, esp when workload is heavy. Would recommend finding time to eat with your team and/ or folks from other teams. Helps to tune off for a bit and good opportunity to build relationships and rapport
Original post by KLL
Can confirm this, few think a Brexit is gonna happen. It's just so unreal and irrational, many struggle processing it.

Won't recommend making fast food dinners a habit, esp when workload is heavy. Would recommend finding time to eat with your team and/ or folks from other teams. Helps to tune off for a bit and good opportunity to build relationships and rapport


the potential consequences on the industry is distressing.. couldn't have come at a much worse time for this years intern cohort

our ceo came to give a talk to us interns, namely for reassurance purposes i'm guessing
Original post by gr8wizard10
the potential consequences on the industry is distressing.. couldn't have come at a much worse time for this years intern cohort

our ceo came to give a talk to us interns, namely for reassurance purposes i'm guessing


When do u suggest i should apply for next summer?

What skills are needed for your role?

I've learned excel/VBA pretty well but how if at all would VBA help an intern? like would a script that simulates stock price paths be useful? Or are we looking more at using macros to auto fill tables?

Man so jealous of you/analysts in general, really hope I make it.
(edited 7 years ago)
Reply 44
Avatar for DireB95
DireB95
6
What kind of work have you been doing? a lot of research etc?
Original post by gr8wizard10
given its the weekend have more leeway on time management, just making my way to work now so happy to answer most things :smile:


Didnt you already do an SA stint last year?
Original post by Esoteric-
Didnt you already do an SA stint last year?


Can answer on his behalf (as I know him irl).

Was a 'special' programme open to a select few first year students, he's returning to one of the desks he rotated into before.

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Original post by Oilfreak1
When do u suggest i should apply for next summer?

What skills are needed for your role?

I've learned excel/VBA pretty well but how if at all would VBA help an intern? like would a script that simulates stock price paths be useful? Or are we looking more at using macros to auto fill tables?

Man so jealous of you/analysts in general, really hope I make it.


i've never actually made a summer app, but the general advice is apply early

skills: attention to detail, attention to detal, attention to detail.. the rest is just common sense and pretty easy to learn. but learn not to make mistakes and go through the numbers/slides like a hawk. perfection is the key to success as an analyst.

people know when you accidently left a double space between 2 words on p16, or didn't put a full stop at the end of your 2nd footnote on page 54, and you used a different font size for your x and y axis on a graph in page 8.

vba helped me a bunch when i was on the trading floor last year. less prevelant in ibd (don't really need it for m&a)

for me it was about automating spreadsheets and making it pull in data automatically or creating scripts to not have to do a series of tasks and make things more efficient for the desk.

good luck, your time will come if you keep at it

Original post by DireB95
What kind of work have you been doing? a lot of research etc?


preparing comp profiles, running model outputs, creating deck slides, prepping notes on conference calls, updating comps sheets, news runs updates other ad-hoc tasks

Original post by Esoteric-
Didnt you already do an SA stint last year?


prince hit the nail on the head, i did 2 previous internships in banks, one after a levels and one after my first year of uni :smile:
(edited 7 years ago)
As a recent graduate from a target uni without an internship, would you suggest to apply for Summer Analyst or Analyst, or take an indirect route such as getting into Big 4/Hedgefund and then transfer to the investment banking industry?*
Original post by sfs1012
As a recent graduate from a target uni without an internship, would you suggest to apply for Summer Analyst or Analyst, or take an indirect route such as getting into Big 4/Hedgefund and then transfer to the investment banking industry?*


not sure how you'll get into a HF as a grad, if you're willing to commit to big 4 then do it, but wouldn't do it just for the sake of going into banking as it's still quite competitive. I'd say just have a re run on the summer internships
Original post by sfs1012
As a recent graduate from a target uni without an internship, would you suggest to apply for Summer Analyst or Analyst, or take an indirect route such as getting into Big 4/Hedgefund and then transfer to the investment banking industry?*
You could always do both.
Original post by gr8wizard10
given its the weekend have more leeway on time management, just making my way to work now so happy to answer most things :smile:


Obscure Question lol So; I've been growing out my beard for the past 3 weeks now for my bro's graduation (for pictures innit lol) and it got me thinking - From your experience and from what you have seen - beards or nah for FO roles? Saw a few people at JPM with beards who were in FO...

More normal question now - Are staff from other desks / teams procative with interns Ie do they make it difficult for interns to network with them etc or is it as simple as sending an email to them to see if they wish to have coffee with you so you can ask qns?

From what i have read on the " A day in the life of an..." on M+I; they make it seem like a real chore and task just to get 2 mins with a FT analyst (or whatever rank of the person) Is this accurate?

As per, big up yourself mate (gl + hf on the SI btw) - always appreciate your take on things (Y)
Original post by tazza ma razza
Obscure Question lol So; I've been growing out my beard for the past 3 weeks now for my bro's graduation (for pictures innit lol) and it got me thinking - From your experience and from what you have seen - beards or nah for FO roles? Saw a few people at JPM with beards who were in FO...

More normal question now - Are staff from other desks / teams procative with interns Ie do they make it difficult for interns to network with them etc or is it as simple as sending an email to them to see if they wish to have coffee with you so you can ask qns?

From what i have read on the " A day in the life of an..." on M+I; they make it seem like a real chore and task just to get 2 mins with a FT analyst (or whatever rank of the person) Is this accurate?

As per, big up yourself mate (gl + hf on the SI btw) - always appreciate your take on things (Y)


I have a beard, and ben interning for 3 summers now and it hasn't caused any problem. don't think anyone gives a ****, aslong as it's identifiable / clean and well kept. you need to look presentable.

man i just knock on the MDs door and have a 20 min chat with them about life, you can tell when someone is busy or not, and the worst thing someone can say is no, not right now.. come back another time. obviously don't go around pestering people, and emailing would be the most appropriate way.

if you're not a complete numpty and can handle social situations it's not a chore. the best thing is to just have common sense when interacting with people.

thanks for the kind words :smile:
Do you have any advice for a first year with only accounting internships (3, at two FTSE 250s and a Big4)? I've talked to quite a few senior people in finance who say that I could get into banking/consulting with them if I spin them the right way.

What sort of transferrable skills should I emphasise on applications next year? (primarily looking into AM but S&T has recently caught my eye).
(edited 7 years ago)
Reply 54
Avatar for makrxx
makrxx
11
So 2 months till summer apps open, how can I better prepare for interviews? Do you recommend knowing as many technicals or just a few key ones?
Original post by mitchell.gkm
Do you have any advice for a first year with only accounting internships (3, at two FTSE 250s and a Big4)? I've talked to quite a few senior people in finance who say that I could get into banking/consulting with them if I spin them the right way.

What sort of transferrable skills should I emphasise on applications next year? (primarily looking into AM but S&T has recently caught my eye).


if it's equities, accounting is valuable so there's that, otherwise demonstrate s work ethic an interest in the wider economy. you can spin them to demonstrate how your values are in line with the firm, and you meet there competencies.
Original post by makrxx
So 2 months till summer apps open, how can I better prepare for interviews? Do you recommend knowing as many technicals or just a few key ones?


know the overarching technicals of your area of interest, keep up to date with the market. get a friend to practice interviewing with you and provide eachother feedback
Original post by gr8wizard10
if it's equities, accounting is valuable so there's that, otherwise demonstrate s work ethic an interest in the wider economy. you can spin them to demonstrate how your values are in line with the firm, and you meet there competencies.


Yeah equities is the goal! Thanks for the advice.
Reply 58
Avatar for makrxx
makrxx
11
Thanks for the reply! Your other thread with the example of what an m&a analyst does - is that the bulk of the work? Dosen't seem too overly complex, or one that requires you to think. (as compared to markets)

So is there so much work to do, of those kind, that require one to work till 2am every night?
Original post by makrxx
Thanks for the reply! Your other thread with the example of what an m&a analyst does - is that the bulk of the work? Dosen't seem too overly complex, or one that requires you to think. (as compared to markets)

So is there so much work to do, of those kind, that require one to work till 2am every night?


modelling requires some intuition, but even then it's addition, subraction, multiplication and if you're feeling a bit adventorous maybe some division

but generally yeah, pitching can take a lot of time drafting the material, especially when you need to do revisions all the time until the last second

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