Wall Street Oasis Investment Banking Guide

Date:

Chart Formatting Step #3 Apply Your Chart Template To Your Other Charts

E167: MF Private Equity and Bulge Bracket Investment Banking in London

To apply a saved Chart Template in Word, Excel or PowerPoint, simply:

  • Select your chart
  • Navigate to the Chart Design tab
  • Select Change Chart type
  • Clicking OK, all of the chart formatting you saved as a template.

    In this way, you can now cycle through your pitch book or proposal and standardize all your charting formatting using your template.

    Keys Youll Need To Master To Become A Powerpoint Guru:

  • Stop wasting time with formatting by optimizing your QAT
  • Hit your top speed with shortcuts
  • Make every slide polished and professional by mastering alignments
  • Show up all your coworkers by demystifying tables
  • Learn how to seamlessly integrate data into your slides from outside sources
  • When youve finished this article, youll be able to:

  • Update and edit slides that take your colleagues hours to make in half the time or less
  • Use keyboard shortcuts for everythingeven commands that dont have shortcuts
  • Know that every slide that leaves your desk is perfectly, professionally aligned and formatted
  • What Not To Worry About In Investment Banking Interviews: Brain Teasers And Questions To Ask

    Phew. OK, were done with that list of sample questions that ended up being surprisingly long.

    Ive seen prospective investment bankers over two subjects that do not matter much for traditional IB interviews: brain teasers and the questions you ask the interviewer when he/she asks if you have any questions at the end.

    Brain teasers are more likely in sales & trading interviews or consulting interviews, and less likely in banking because they have nothing to do with the job.

    So, I wouldnt recommend spending much time learning how to estimate the number of golf balls that fit in a 747 or how to move water between jugs of different sizes.

    If you are worried because youre interviewing at an elite boutique or a group/firm known for brain teasers, get a book to prepare.

    On another note, interviewees tend to obsess over the right questions to ask interviewers at the end.

    But the truth is, these questions are almost irrelevant unless you say something stupid or inappropriate.

    Just ask a question about the persons background, experience at the bank so far, etc., and dont devote brain cells to this one.

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    Heres How To Gain An Unfair Advantage Over Other Candidates In Investment Banking Interviews

    Without Memorizing Hundreds of Repetitive Questions and Answers

    • Learn how to pitch yourself like a pro and master the most important question in any interview: Tell me about yourself or Walk me through your resume/CV.
    • Understand the concepts behind the Technical Questions with 578+ pages of instruction, dozens of Excel files, hundreds of practice questions and answers, and more.
    • Prepare for Fit Questions Efficiently you can use and re-use the same stories to answer virtually any qualitative question, and we teach you how to do it.
    • Test yourself with 17+ practice case studies similar to the ones given at assessment centers, and then test yourself again with 218+ interactive quiz questions.

    Intelligent Preparation For Interview Questions

    Wall street oasis investment banking interview guide pdf

    First, note that this article is about investment banking interview questions not the overall process, how to win interviews, or what to do before and after the interviews.

    For those, see our articles on how to get into investment banking, investment banking recruitment, and the investment banking industry.

    Second, Im going to link and refer back to our existing coverage for many of these questions since the most important ones have dedicated articles on this site.

    The key preparation point is this: Rather than memorizing 541,763 questions and answers, you should focus on the main question categories and make sure that you have stories and examples prepared for them.

    There are only four types of questions youll encounter in interviews at investment banks, and you can prepare for 3 / 4 of them in 1-2 days .

    The last category technical questions will take more time and effort, but you can save time by focusing on the right topics and ignoring the fluff.

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    Module : Fit Questions And Deal And Market Discussions

    In this module of the Interview Guide, youll learn how to answer fit questions and how to discuss deals, companies, and markets, including your own deal experience.

    Instead of presenting a laundry list of questions and answers, we focus on the strategies behind answering questions and how to prepare your discussions efficiently. We provide sample answers for the key fit questions as well as many examples of transaction discussions for IPOs and equity deals, M& A deals, and debt deals.

    Youll also learn how to present your work if you have non-investment-banking deal experience, such as client work at a Big 4 firm, law firm, consulting firm, or in a credit risk role.

    • 3 Written Guides: Fit Questions and Answers, Deal and Market Discussions, and How to Discuss Your Own Deal Experience.
    • 3 Templates and Executed Examples for Deal and Market Discussions: One initial public offering example, one leveraged buyout example, and one shipping/maritime market discussion example.
    • 3 Templates and Executed Examples for Discussing Your Own Deal Experience: One sell-side M& A example, one buy-side M& A example, and one capital markets example.

    Automatically Set The Table Style Formatting First

    To set a Table Style for your table, simply:

  • Select your table
  • Navigate to the Table Design tab
  • Open your Table Style Options
  • Click on the Table Style you want to apply
  • This allows you to instantly move from a non-formatted table to a formatted table in just a few clicks.

    Note: You can preview what the table will look like with a style applied to it by hovering on the style, before clicking on it.

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    Its Not All About The Money

    More compensation may not be enough for lots of young workers, for whom the pandemic only highlighted the less palatable aspects of investment banking even as other careers dangled more appealing work-from-home policies.

    Armen Panossian, a rising senior at Rutgers University, is interning in the logistics division of the energy company BP and hoping to land a similar full-time role after college. He said the pandemic was part of his motivation for pursuing a more 9-to-5 job rooted in finance.

    I think a lot of people rediscovered the importance of mental health, Mr. Panossian, 21, said.

    Eden Luvishis, a 20-year-old student of finance, computer science and math at the Stevens Institute of Technology in Hoboken, N.J., wants to work in fintech but would consider becoming an engineer at a major bank a career that could marry her interest in finance with a more predictable way of working.

    I was never so interested in traditional banking jobs, she said. For me it was always more of the quant side, meaning roles involving quantitative analysis. I really love math.

    Before graduating from Mount Holyoke College in 2016, Areeba Kamal worked for a summer as a trading intern handling complex bond products at Bank of Americas Midtown Manhattan tower. She arrived around 8:30 a.m. and often stayed until 10:30 p.m., trying to learn the intricacies of her product. She sent money to her family in Pakistan.

    Module : Case Study Exercises

    Investment Banking Interview Questions. Nightmares, Brainteasers and 3 Sample Answers

    In this module, youll get practice completing a variety of case studies and modeling tests given in interviews and at assessment centers in the EMEA region.

    The time required for these case studies ranges from 30 minutes up to 2 hours to simulate the time pressure you will encounter in interviews.

    The topics covered include 3-statement modeling, valuation and DCF analysis, M& A and merger models, LBO modeling, and credit analysis. There are both qualitative and quantitative case studies, and some exercises mix the two.

    We feature companies and deals from all 6 inhabited continents and a variety of industries, including airlines, manufacturing, professional services, retail, and more.

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    Investment Banking Analyst Salary In London

    Investment banking analyst salaries in London are lower than in NYC.

    As is the case in the United States, there is a standard base: In London, almost all firms currently offer a £60k base, growing to £65k and £70k for 2nd and 3rd-year analysts, respectively.

    Salary is comparable to London after adjusting GBP to EUR in smaller financial hubs in Europe such as including Switzerland, Frankfurt and Zurich.

    Position

    A Culture Of Overwork

    Although top executives of the biggest banks have recently talked tough about the need for employees to return to the office, many are paying heed to the complaints of their youngest workers. Goldmans chief executive, David Solomon, said in an earnings call this month that his firm would pay more competitively and enhance rewards for performance. Goldman is also enforcing its no-work-on-Saturday rule. JPMorgan is rolling out technology to automate some aspects of analysts work, and recently hired more than 200 additional junior bankers to ease the pressure in a particularly busy year.

    A first-year investment banking analyst in New York can make as much as $160,000 in a year, including a bonus, according to estimates from Wall Street Prep, a company that helps aspiring bankers train for the industry. But several firms, including Citigroup, Bank of America, JPMorgan and Barclays, have raised the salaries of junior bankers. Credit Suisse paid what it described internally as lifestyle bonuses of $20,000 to younger bankers.

    Some of todays heaviest hitters in banking got their start in that heyday, including John Waldron, the president of Goldman Sachs Sharon Yeshaya, Morgan Stanleys new chief financial officer and Carlos Hernandez, executive chair of investment and corporate banking at JPMorgan.

    And theres the pull of Silicon Valley.

    He said, Honestly, J, the way that Ive seen that we work these kids, Im not sure that I want that for you, Mr. Lee recalled.

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    Selecting A Program That Is Right For You

    Wall Street Prep pioneered the Financial Modeling Self Study Program in 2003 for students and professionals pursuing careers in finance. The program is now used widely at the worlds top investment banks, private equity firms and MBA programs .

    Since 2003 several other companies have emerged to offer similar programs, including Wall Street Oasis in 2020. In this article, I will try to lay out some of the differences and similarities between the programs and explain why Wall Street Prep remains the best choice.

    Strategically Arranging Qat Commands

    Investment Banking Interview Course

    To arrange commands on your QAT, follow these steps:

  • Click the Customize Quick Access Toolbar command
  • Select More options
  • As a result, the PowerPoint Options dialog box opens up, drilled into the Quick Access Toolbar options.

    This is where you can see what is already on your QAT and all the commands you can add to your QAT.

    While right-clicking the commands in your Ribbon is typically easier, you can also use this dialog box to add and remove commands from your QAT. This is especially helpful for commands that are hard to find or dont exist in your Ribbon.

    To rearrange commands on your QAT:

  • Select a Command in your QAT window
  • Use the Move Up / Move Down arrows to rearrange your commands
  • Click OK when youre finished
  • In the picture below you can see Ive arranged the formatting commands into the first three positions of my Quick Access Toolbar.

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    Projected Investment Banking 2021 Bonuses

    Johnson Associates, a compensation consulting firm, expects year-end incentives to increase to their highest levels since the Great Recession in 2008 as the financial services industry is benefiting from a sharp rebound in deal volume.

    More specifically, the following bonus changes are currently anticipated for 2021:

    • Investment Banking Underwriters: Forecasted to Increase by 30% to 35% Year-over-Year
    • Investment Banking Advisory & Equities Trading: Estimated to Increased by 20% to 25% YoY

    Projected 2021 Bonuses

    In 2021, Goldman Sachs and JP Morgan are each preparing to pay out larger-sized bonuses to their investment bankers, with practically all investment banks following suit.

    For instance, Goldman Sachs is expected to raise base salaries for their entry-level investment banking analysts from $85,000 to $110,000.

    Therefore, in addition to the increased base salary, the top banks are focusing on building a pay-for-performance culture.

    Everything You Need To Master Financial Modeling

    Enroll in The Premium Package: Learn Financial Statement Modeling, DCF, M& A, LBO and Comps. The same training program used at top investment banks.

    Investment Banking Associate Interview Questions

    There are no huge differences for Associate-level candidates, as the same topics and types of questions tend to come up.

    The main difference is that you need to be more polished because everyone at this level at an investment bank is articulate and has more real-world experience.

    Its also quite important to focus on a specific industry because they want candidates who can leverage their pre-MBA experience for something useful on the job.

    Finally, case studies sometimes informal verbal ones, sometimes in writing, and sometimes in Excel are more likely to come up at this level.

    For more, please see our article on the investment banking associate job.

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    More Selective Than Harvard

    JPMorgan, for instance, received almost 50,000 applications for about 400 internship positions at its investment banking program this year, according to a person with knowledge of the company. The acceptance rate of less than 1% makes JPMorgan’s investment bank harder to get into than Harvard or Yale.

    That level of interest doesn’t seem to be isolated to JPMorgan, which is a juggernaut on Wall Street across advisory and trading businesses.

    Goldman Sachs, the world’s top mergers advisor, saw a 50% increase in applications for its investment banking analyst program this year compared with 2018, according to a person with knowledge of the bank. While banks don’t typically disclose specifics about their programs, making it hard to know how many join Wall Street out of college, it’s likely that a few thousand are hired at the top investment banks every year.

    Meanwhile, the industry’s best-known feeder schools say that demand for finance careers hasn’t abated.

    At the University of Pennsylvania, for instance, finance has been the top destination for students for the past two decades, according to Barbara Hewitt, executive director of its career services group. The percentage of graduates with full-time jobs choosing Wall Street has stayed at roughly 30% since at least 2015, beating out consulting, technology and health care.

    Investment Banking Interview Questions Category : Discussing Deals Markets And Companies

    From the Navy to Real Estate Investment Banking

    This category includes questions such as:

    • Tell me about a recent deal.
    • Tell me about a deal our bank worked on recently.
    • Tell me about a company youre interested in.
    • What makes Market X interesting to you?

    These questions are not that important unless youve had extensive deal experience that the interviewers plan to dig into but they do require extra research and preparation.

    We recommend the following steps:

  • Look Up 1 Deal the Bank Has Worked on Recently Find something from the past ~6 months on the banks website or via Google searches. Outline the background, deal rationale, 1-2 financial stats, and your opinion of it. This can be very short because you just need to show that you know something about the bank.
  • Prepare for 1 In-Depth Deal/Market/Company Discussion You should also prepare for a more in-depth discussion of a deal, and this deal does not have to be one that this bank advised on. For this, youll need the background information, deal rationale, a few financial stats, and your opinion of it. If they ask you to discuss a market, pick the market from this deal and make sure you know the approximate market size, key trends/drivers, major competitors, and your opinion of its prospects.
  • There are many tips on how to research and prepare for these questions in our articles on discussing a recent deal and discussing your own deals.

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    Here Are Just A Few Of The 20000 Candidates Who Have Taken This Course

    “I couldn’t be any happier with the material as the questions that I was asked during my 12+ interviews came directly from the study guides. Thank you sooo much, you guys really helped change my life!”

    “Without a doubt, the WSO IB Interview Course 100% helped me. I bought it a few days before my interview and used it to cram. A few of the questions I was asked were directly lifted from the course guides…as a result of prepping with the packet, I got the job in corporate banking energy team in Houston. Our team maintains the relationship with the clients and provides bank debt instruments such as RCFs, term loans, bridge loans, etc.”

    “Both of the fit and technical modules of the course were incredible. The fit portion was especially helpful for understanding what the job precisely entails and how the industry works. I was then able to clearly evaluate my own experiences and make the appropriate connections so that I could highlight the skills I could contribute. The technical module was also great since I hadn’t taken any finance courses prior to recruiting, so it helped me focus on the more important aspects to have a better understanding.”

    “This course helped me so much! All of the modules were great, but what I found most valuable was the firm-specific advice! In terms of results, I’m now a first year IB analyst in London!”

    Adding Commands To Your Quick Access Toolbar

    To add a command to your Quick Access Toolbar, simply:

  • Right-click the command in your PowerPoint Ribbon
  • Select Add to Quick Access Toolbar
  • Youll then see the command added to the end of the QAT.

    The formatting commands I recommend adding in PowerPoint are: 1. Font Color 2. Shape fill 3. Shape outline weight.

    Note: To add the shape fill and shape outline weight commands, youll first need to insert a shape and select it to open up up the Shape Format tab, as pictured below:

    Adding commands to your QAT is the first step. The next step for taking your formatting skills to the next level is to strategically arrange the commands on your QAT.

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