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You will very rarely get exposed to the type of financial modeling that bankers complete: 3-statement models , DCF models , M&A models , LBO models , and so on. Think: benchmarking portfolios rather than modeling companies. As with the job itself, the theme is breadth over depth.
Equity research recruiting tends to be less structured, though the bulgebracket banks and elite boutiques still run traditional processes that start over a year before summer internships. bulgebracket research team to startup PE firm).
You’ll also have to spend time learning/reviewing the technical questions, as the day-to-day work in ECM and DCM is far removed from subjects like Equity Value vs. Enterprise Value or a DCF model. Should You Accept a Capital Markets Internship or Job Offer? If it’s a 5-person regional boutique , take the BB capital markets offer.
Admittedly, not all banks did this, and many bulgebracket firms will start in the normal time frame of January – March. Yes, you can read guides , take courses , and watch YouTube videos , but you should also spend a few hours building simple DCF models or 3-statement models to learn the key concepts.
bulge-bracket banks , such as JPM, GS, MS, and Citi, always rank well in the league tables. The other bulgebrackets (BofA, Barclays, UBS, and DB) tend to rank lower, but this varies each year. Investment Banking in Dubai: The Top Banks The usual U.S. are much less active.
You won’t have time to build a simple DCF model or do more than look at multiples and qualitative descriptions, so you must think and act quickly based on limited information. The best way to prepare for the case study or stock pitch is to practice reading about different companies and making decisions quickly.
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