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    I am sure this will be very usefull to most begginers out there, thought i would be nice since its friday and I have the weekend off

    Financial analysis, modelling and valuation

    Is aware of all Excel functionality; can use Excel
    quickly and efficiently
    Is fully aware of all relevant information sources
    (eg Bloomberg, Datastream, BIS, etc)
    Valuation analysis
    – is responsible for completion of comparable
    analysis; understands fundamentals
    – understands and applies discounted cash flow
    techniques
    Understands and applies corporate finance
    fundamentals (future value, net present value, risk
    return relationship)
    Creates solid financial models with significant input
    from superiors
    – builds robust and simple Excel spreadsheet
    models
    – is strong in basic financial forecasting techniques
    Understands fundamentals of accounting
    – how the statements are prepared
    – the interaction / interdependence of the P&L,
    cash flow and balance sheet
    – basics of financial notes to the accounts
    – how business activity is reflected in financial
    statements
    – EPS accounting, cash flow analysis,
    consolidations, debt and leases, taxes
    Builds group specific skills expertise (eg industry
    databases, specific company / market information,
    etc)



    Technical and product skills

    Mergers & Acquisitions
    Models simple M&A transactions and understands
    basic concepts
    Manages deal information and its dissemination
    – public information books, etc
    – news, research trackers
    Assists on deal administration and logistics,
    including
    – working party list
    – transaction action list and timetable
    – shared drive organisation
    Gathers and manages deal information, including
    responsibility for organisation of project folders
    Assists in preparation of documentation
    – IM / management presentation / announcements
    Equity Financing
    ???? Masters Bloomberg functionality to obtain data on
    public companies / market trends
    Masters third party data services (eg Lionshare,
    Equityware, and Deal Logic) and can interpret
    output
    Analyses precedent transactions and trading
    information
    Understands product features and differences
    between processes
    Assists on deal administration: due diligence,
    logistics, etc
    Gathers and manages deal information
    Debt Financing
    Builds and sensitises LBO models
    Drafts screeners and contributes to credit papers
    Analyses due diligence information critically



    Client Skills

    Is capable of focused pitch book / presentation
    drafts and production – attention to every detail
    Has solid basic financial writing skills
    Is responsive to client support needs (eg logistics,
    WPL, etc)
    Develops basic understanding of covered industry
    and / or product
    Develops understanding of client business
    Is capable of understanding rationale of each
    communication to the client
    Briefs senior team members on presentation
    specifics
    Is capable of explaining relevant parts of
    presentation at internal meetings


    Management and interpersonal skills

    Participates in recruiting
    Works effectively in team environment
    – has positive attitude and cooperates with others
    – employs / uses timely and effective
    communication with managers
    Manages others effectively
    – exchanges ideas with, and asks questions of,
    peers
    – interacts respectfully with support staff
    (presentations, print room, BIS)
    – manages support staff for results
    Manages self effectively
    – is accessible, reliable and responsible
    – completes error-free work
    – manages time well: prioritises and multi-tasks
    – remains cool and efficient under pressure
    – works hard, is proactive, tenacious in overcoming
    obstacles
    – can deal effectively with ambiguity and change
    – works to develop own skills, seeks out new
    experience
    – seeks out, and is responsive to, feedback
    – meets deadlines
    Understands role and what is expected from the
    perspective of other team members (eg MD vs.
    associate)
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    Very good indeed. Makes me realise why I got rejected from Deustche Bank...
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    – interacts respectfully with support staff
    (presentations, print room, BIS)


    Yeah... most analysts seem to treat them like ****
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    (Original post by Teenage Pirate)
    – interacts respectfully with support staff
    (presentations, print room, BIS)


    Yeah... most analysts seem to treat them like ****
    Well who else are the analyst going to take their stress out off?
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    interns
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    – can deal effectively with ambiguity and change

    This is more important than anything else.

    Typical scenario:

    "Hi - hoping you've got some capacity to do this for me - I was hoping you could pull together a pitch for me on x company, we're pitching for sell side. Valuation should be in line with comps, and don't overload it with debt. Do some background research on the industry and come up with some projections - don't kill yourself on this, but if you could get this done for tomorrow morning 9am that'd be great. At some point tonight I'll email more guidance which you can just build right into your model."

    Bb^
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    (Original post by Teenage Pirate)
    interns
    Cant wait to get me one of those
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    (Original post by Bb^)
    – can deal effectively with ambiguity and change

    This is more important than anything else.

    Typical scenario:

    "Hi - hoping you've got some capacity to do this for me - I was hoping you could pull together a pitch for me on x company, we're pitching for sell side. Valuation should be in line with comps, and don't overload it with debt. Do some background research on the industry and come up with some projections - don't kill yourself on this, but if you could get this done for tomorrow morning 9am that'd be great. At some point tonight I'll email more guidance which you can just build right into your model."

    Bb^
    Tomorrow morning at 9am: Oh you finished that? I'll have a look in the afternoon. => they look at it a few days from then
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    (Original post by Bb^)
    – can deal effectively with ambiguity and change

    This is more important than anything else.

    Typical scenario:

    "Hi - hoping you've got some capacity to do this for me - I was hoping you could pull together a pitch for me on x company, we're pitching for sell side. Valuation should be in line with comps, and don't overload it with debt. Do some background research on the industry and come up with some projections - don't kill yourself on this, but if you could get this done for tomorrow morning 9am that'd be great. At some point tonight I'll email more guidance which you can just build right into your model."

    Bb^
    My favourite:

    [Ask for some long and tedious piece of analysis/work] and then say [ oh and by the way i needed them yesterday]

    When said in the right tone of voice can set a fire to the opposing side as it means a days worth of work needs to compressed into 4-5 hours
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    (Original post by Galatasaray)
    I am sure this will be very usefull to most begginers out there, thought i would be nice since its friday and I have the weekend off

    Financial analysis, modelling and valuation

    Is aware of all Excel functionality; can use Excel
    quickly and efficiently
    Is fully aware of all relevant information sources
    (eg Bloomberg, Datastream, BIS, etc)
    Valuation analysis
    – is responsible for completion of comparable
    analysis; understands fundamentals
    – understands and applies discounted cash flow
    techniques
    Understands and applies corporate finance
    fundamentals (future value, net present value, risk
    return relationship)
    Creates solid financial models with significant input
    from superiors
    – builds robust and simple Excel spreadsheet
    models
    – is strong in basic financial forecasting techniques
    Understands fundamentals of accounting
    – how the statements are prepared
    – the interaction / interdependence of the P&L,
    cash flow and balance sheet
    – basics of financial notes to the accounts
    – how business activity is reflected in financial
    statements
    – EPS accounting, cash flow analysis,
    consolidations, debt and leases, taxes
    Builds group specific skills expertise (eg industry
    databases, specific company / market information,
    etc)



    Technical and product skills

    Mergers & Acquisitions
    Models simple M&A transactions and understands
    basic concepts
    Manages deal information and its dissemination
    – public information books, etc
    – news, research trackers
    Assists on deal administration and logistics,
    including
    – working party list
    – transaction action list and timetable
    – shared drive organisation
    Gathers and manages deal information, including
    responsibility for organisation of project folders
    Assists in preparation of documentation
    – IM / management presentation / announcements
    Equity Financing
    ???? Masters Bloomberg functionality to obtain data on
    public companies / market trends
    Masters third party data services (eg Lionshare,
    Equityware, and Deal Logic) and can interpret
    output
    Analyses precedent transactions and trading
    information
    Understands product features and differences
    between processes
    Assists on deal administration: due diligence,
    logistics, etc
    Gathers and manages deal information
    Debt Financing
    Builds and sensitises LBO models
    Drafts screeners and contributes to credit papers
    Analyses due diligence information critically



    Client Skills

    Is capable of focused pitch book / presentation
    drafts and production – attention to every detail
    Has solid basic financial writing skills
    Is responsive to client support needs (eg logistics,
    WPL, etc)
    Develops basic understanding of covered industry
    and / or product
    Develops understanding of client business
    Is capable of understanding rationale of each
    communication to the client
    Briefs senior team members on presentation
    specifics
    Is capable of explaining relevant parts of
    presentation at internal meetings


    Management and interpersonal skills

    Participates in recruiting
    Works effectively in team environment
    – has positive attitude and cooperates with others
    – employs / uses timely and effective
    communication with managers
    Manages others effectively
    – exchanges ideas with, and asks questions of,
    peers
    – interacts respectfully with support staff
    (presentations, print room, BIS)
    – manages support staff for results
    Manages self effectively
    – is accessible, reliable and responsible
    – completes error-free work
    – manages time well: prioritises and multi-tasks
    – remains cool and efficient under pressure
    – works hard, is proactive, tenacious in overcoming
    obstacles
    – can deal effectively with ambiguity and change
    – works to develop own skills, seeks out new
    experience
    – seeks out, and is responsive to, feedback
    – meets deadlines
    Understands role and what is expected from the
    perspective of other team members (eg MD vs.
    associate)
    As I don't have a weekend off and loads of work, I take over the part, what you need once you are in banking as opposed to what is required to get the job:

    - rule of three

    ;-)
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    (Original post by Jochen85)
    As I don't have a weekend off and loads of work, I take over the part, what you need once you are in banking as opposed to what is required to get the job:

    - rule of three

    ;-)
    Thats whats required from Analysts 1 & 2 once you join

    Here is wahts required from Analyst 3s

    The fact that I have the weekend off doesnt mean i wont be working

    Financial analysis

    Is an expert in all Excel functionality
    ???? Valuation analysis
    – is an expert in comparable analysis; specific
    adjustments (eg pensions, leases, associates)
    – is comfortable with discounted cash flow
    techniques
    ???? Is comfortable using and discussing corporate
    finance fundamentals
    – can offer informed opinion on, and meaningfully
    discuss, assumptions with senior bankers and
    clients
    ???? Creates solid financial models with limited guidance
    – understands key ratios analysis (operating and
    financial)
    – applies advanced financial forecasting techniques
    – builds ‘complex’ financial models for specific
    situations (industry and / or product)
    – serves as expert resource on data management
    and modelling issues
    – models leveraged buyouts
    ???? Reviews and applies public disclosure, particularly
    financial accounts, with further rigour


    Technical and product skills

    Mergers & Acquisitions
    ???? Models M&A transactions and understands
    concepts
    ???? Is aware of basic M&A, tax and accounting issues
    ???? Understands basic structure and rationale of M&A
    deals
    – financial
    – industrial
    ???? Understands structure and mechanic details of
    sell-side transactions
    – transaction action list and timetable
    – key documentation
    ???? Assists on deal administration
    Equity Financing
    ???? Is aware of basic tax and accounting issues
    ???? Models capital markets transactions (eg rights
    issues)
    ???? Drafts internal committee materials
    ???? Provides general support for transaction execution
    ???? Understands capital markets structures
    – variety of equity instruments
    – issuance process mechanics / dynamics
    ???? Understands investor categories
    Debt Financing
    ???? Develops operational models, where applicable
    ???? Takes the lead in drafting certain sections of the
    credit paper
    ???? Gradually develops a basic understanding of term
    sheets
    ???? Liaises with client / consultants in the due diligence
    process
    ???? Co-operates with industry groups to refine credit
    analysis
    ???? Provides general support for transaction execution

    Client skills (external and internal)


    Is capable of drafting clear and concise presentation
    pages
    ???? Is capable of delivering selected parts of
    presentation at internal committees / client meeting
    ???? Develops understanding of covered industry
    ???? Develops detailed understanding of client business

    Firm and business knowledge

    Understands and follows internalxxx
    processes (eg compliance, deal logging)
    ???? Stays current on regulatory / compliance issues
    ???? Develops understanding of firm and client based
    legal issues and documents
    ???? Has overall sense of financial services industry
    structure
    ???? Has overall sense of x business lines
    and develops sense of cross-selling opportunities
    – includes services provided by
    Transaction Banking, Global Markets and
    Private Wealth Management
    ???? Manages career and considers how best to achieve
    longer term objectives
    – broadens understanding of x career
    opportunities
    – is proactive in gaining experience and interacting
    with other groups within x

    Management and interpersonal skills
    Participates in recruiting and formal training
    ???? Acts as informal mentor to other Analysts
    – teaches best practice; is perceived as ‘best in
    class’
    – introduces them to presentation services, print
    room, etc
    – is a ‘gateway’ to other teams within the bank
    ???? Works effectively in team environment
    ???? Is effective in managing expectations of associates,
    and has the ability to consistently set and meet
    demanding deadlines
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    Is that what is required from someone hoping to be an analyst, or from someone who actually is one?
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    (Original post by chillern)
    Is that what is required from someone hoping to be an analyst, or from someone who actually is one?
    I suppose you have to have most if not all the interpersonal and the soft skills before hand and the hard skills after you join

    At the end of 2 years you have to check all the boxes
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    (Original post by Galatasaray)
    lot of stuff to make the role sound more respectable and intellectually challenging than it really is
    Here's what you need be able to do: do lots and lots of mundane, tedious donkey work, making lots of teeny tiny judgement calls along the way, at the early hours of the morning for a task you were set at 8pm the night before. Do this over and over again, with hardly any mistakes, despite the sleep deprivation.
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    Why don't you chuck IBD in the title? Don't know what could drive someone to work in IBD.
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    Definitely should have been given IBD title.... reminds me why I feel lucky to be in S&T.
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    You S&T guys like fetching coffee/ lunch for your team? Sorting out admin stuff for most of your first year? Working in an area where the exit opps are much more limited?

    Advantages/ disadvantages to both.
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    sounds riveting
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    (Original post by Teenage Pirate)
    You S&T guys like fetching coffee/ lunch for your team? Sorting out admin stuff for most of your first year? Working in an area where the exit opps are much more limited?

    Advantages/ disadvantages to both.
    IBD is **** compared to S&T. Fact.

    And don't give me that bull about exit ops, your job is so ****, you want to exit it before it starts.
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    (Original post by DerPumuckl)
    IBD is **** compared to S&T. Fact.

    And don't give me that bull about exit ops, your job is so ****, you want to exit it before it starts.
    Yeah, I guess you can be sure that you want to be a trader for the rest of your life based on your 2.5 months of "work" over the summer.
 
 
 
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