Silver BananaTopic
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2017 Investment Banking Report: 8 Key Trends to Know Wall Street Oasis (WSO) released a detailed 2017 Investment Banking Report that includes data on compensation, the interview process, employee satisfaction, and more. All statistics featured in the reports are based solely on paid user submissions to the WSO Company Database during 2015, 2016 a...
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WSO Hall of Fame: Investment Banking Forum The Wall Street Oasis Investment Banking Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the investment banking industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navi...
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http://therpmshop.com/2017/12/fullhd4kwatch-daddys-home-2-2017-online-full-movie-free/therpmshop. com/2017/12/fullhd4kwatch-daddys-home-2-2017-online-full-movie-free/ therpmshop. com/2017/12/fullhd4kwatch-daddys-home-2-2017-online-full-movie-free/...
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http://therpmshop.com/2017/12/putlocker-watch-thor-ragnarok-movie-2017-free-hd-full-online/watchThor: Ragnarokfullmovie therpmshop. com/2017/12/putlocker-watch-thor-ragnarok-movie-2017-free-hd-full-online/...
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How Important is your Undergrad Reputation?I am currently a student at USC, but have a transfer plan option to Cornell, specifically the Dyson School, and am wondering if it's worth it to transfer? I know that I'll have a much better college experience here and have lived in SoCal my whole life. But I also know that Cornell will be better fo...
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Getting a return offer in a group with a ~50% return rate?I'll be interning at a group that historically has only taken ~50% or less of its interns. It's a great gig, but I'm really scared about not getting a full-time offer given how tough FT recruiting has become. Does anyone have any tips on getting a return offer in a more competitive intern environmen...
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Any bonus season openings coming up?With bonus season upon us, many folks might be planning there escape but I'm genuinely still trying to earn my solid IB experience. I've spent the last 4 months (finished school in August) at a small PE/VC shop in Toronto and while it has been a great intro, the transaction activity is limited. Af...
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Am I on the right track for Junior IB SA?**Hey guys,** **Just a brief background:** Currently a sophomore at community college in the northeast/mid-atlantic region. I am transferring to a UVA/NYU tier school after this spring as an incoming junior, and will be majoring in economics; unfortunately, my GPA just isn't high enough for the un...
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Life is over?Hi guys. I am a sophomore at non-target. Recently I am involved in an academic integrity case (plagiarism: lack of in-text citation). I will get a D in this course and my overall GPA will drop from 3.9 to 3.6 because of this. This is a freshman level writing course so it may not affect my major GPA....
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NYC Summer HousingI've talked to a number of friends that recommend NYU apartments/dorms for a summer internship. Was wondering If any of you all have stayed at NYU and which apartment/dorm you would recommend staying in. ...
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Company Review: Stephens Inc - IB analystGreat deal flow, laid back culture (at least in the LR office), enjoyable people, generalist program - the analyst training program exposes you to many different industries . Strong disconnect between senior leaders and analyst/associates, brand is not as well known outside of the south which is tou...
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Should I intern during the school year if it has a chance of hurting my GPA?I am a sophomore with little/no real finance experience and need some resume padding. I am currently applying for an internship that is with a small wealth management firm that I am pretty confident will accept me. It is 5-10 hours a week during the semester and I will be taking 16 credit hours. Any...
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1st Year S&T Analyst Lateral to IB Currently a 1st year Institutional Equities Sales analyst at a BB (started 6 months ago). Have 1 previous boutique banking internship and a credit risk internship at a BB. I have a solid team but I can see the industry rapidly evolving and this business is becoming a dinosaur that'll become extinct ...
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Non-Target to Buy-Side? Title says it all. I'm wondering for all of us non-target hustlers, is our peak being a career banker, or do we have the opportunity to break into the Buy-Side. I understand that it's a huge privilege to be an Investment Banker but is that our glass-ceiling? I'd like to know realistically speaking. ...
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Lateraling as an Associate Without Deal ExperienceI'm a post-MBA A1 in a coverage group at BAML/CS/Citi. My Associate class was pretty big, and I haven't had any live deal experience after ~1 year on the desk. I'm looking to lateral; how should I approach this in interviews when they ask me about deal experience? Obviously I shouldn't and can't ...
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Moving to Boston - SuggestionsHello all, I know this topic has been asked before but I couldn't find any that really matched my description so bear with me as I ask again. I am moving to Boston in January for a consulting gig and am needing suggestions on where to live. I am willing to spend a little more $1500-2700 month fo...
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Disney Acquires FoxDoes anybody know who the named advisors were? Does anyone have any thoughts on the deal besides what was already said. Thanks. ...
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Company Review: Moelis & Company - Incoming Analyst PerspectiveN/A - Have not started yet. Will use this sentence to fill up remaining character spaces that are required.. N/A - Have not started yet. Will use this sentence to fill up remaining character spaces that are required....
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Are the yield to maturities (YTM) of bonds stated as an APR, or an EAR?Just doing a finance question and can't seem to find a straight forward answer online as every website says something different....
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GPA importance after getting SA offerMy GPA tanked during recruiting this semester and wasn't super high (3.7+ish) to begin with. Is this going to be an issue for full time or for post-IB?...
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GSAM -> IBD?How difficult is the internal move from Goldman Sachs Asset Management (in particular fixed income investment strategies) to IBD? Thinking of summer analyst in GSAM to full time in IBD - is that possible? And would you take an internship at GSAM over one at a MM investment bank (if your eventual goa...
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Career choice after Master's: consulting or bankingHi everyone BG: I am a recent college undergrad from a west coast non-target. Recently I have been doing an ER internship at a MM bank (off-cycle, long-term, have potential become a FT after a few months, either in the bank's IBD or stay in ER). I am going to grad school (Master program, non-MBA) ...
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Is Traditional Finance Dead?The freshmen going into college today, blind to the realities of the world, will dutifully complete their business degrees, and in 4 years come out realizing that they are absolutely 100% fucked. How do you compete with the metric shit ton of computer science, statistics, physics, etc. majors coming...
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Why M&A?I have an interview coming up (tomorrow) where the interviewers have stressed, "Know which groups that you most want to work in and why." I know I want to work in M&A... I'm not sure if my reasons are "interview-friendly". So, I'm curious, what are some good interview answers for "Why M&A?"? Thank...
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How to do Opex Adjustment for a comparable valuation analysis?I am studying comparable valuation analysis, and there is a form below I really have no idea how to deal with. * Non-recurring item adjustment 2015 2016 2017 * Opex Adjustment * Non-opex Adjustment I hope to know what info I should look at in 10K and how I should calculate these account...
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Gain/Loss on Sale of AssetSay you sell an asset for $100 that had a book value of $80, how would that affect the 3 statements? (40% tax rate) Thanks...
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London IB 2018 Summer Internship Discussion So I’m quite new to this site, but one of the reasons for me making an account is that I'm looking to secure (ideally) a BB IB summer internship in London next summer. I'm currently on internship in a small financial services firm in Dublin, and while the experience is semi-good (and the pay is 0)...
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GMP Securities InterviewHas anyone done the interview for GMP Securities in their energy group? was wondering when they usually get back. ...
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1st Year MM Analyst....... PE/ MBA adviceFrom Midwestern state school, starting FT at MM (Baird, HW, HL, Piper) this summer. PE: Too early to start networking? Is it worth networking within MF, or do they only take BB MBA: Have been told MBA is only worth it if its a top 10-15 program. I tend to agree as I'm not trying to load more stud...
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American Recruiting for London SA Hi Wso, I've recently been selected for a final round interview with GS for a London SA position. I am based in the US (non EU citizen), however intend to relocate to London after graduation if extended the position. I have little information on how recruiting works for overseas internships, and wh...
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Smart Questions to Ask During a Private Equity InterviewI'm having the first one soon w/ a PE shop. Any thoughts and insights you could provide for? Questions to Ask at the End of a PE Interview Just like any interview, private equity interviews will likely end with the interviewer offering you the chance to ask questions about the company and it is ...
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Contracting Job Offer AdviceI currently have a 6 month contract job offer with BBH, and I have a final round for another 3 month contracting job with MS tomorrow. I'm wondering as far as exit opportunities go assuming I don't go full time with either, which would be best? MS pays more also, but going on the job search grind in...
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Finally got FT offer now sad?Finally got offer for a boutique in SF. I've been working so hard for this. Coming from a non-target school with a shitty GPA, I've had to put in countless hours of networking and interview prep. Just realized something I've never really thought of because I was so focused on breaking in. I've bec...
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How to forecast the Free Cash Flow?I am studying comparable analysis and need to forecast the FCF (= Cash from operating activities - CapEx) for the next two fiscal years. I have the FCF (LTM 10/31/2017) and the estimated CapExs for 2017E, 2018E and 2019E. I hope to know how I could get the Cash from Operating Activities for 2017E, 2...
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Tech IBD Hi. I was looking for some advice with regards to tech banking. I dont have IBD experience but have knowledge about the industry and was looking to see what the culture is like in TECH IBD. My knowledge base is mostly around Enterprise Software.  I wanted to know how IBD groups in this space wor...
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What is Canadian comp and recruitment like?How much do analyst/associate/VP/MD make on average at the big 5 canadian banks? I assume it is lower than the US, but is it around 50% less compared to BB or like 80%? Also how many people are recruited per year into Bay Street? Since there's only 2 or 3 schools that actually get recruitment on-ca...
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How to calculate EV/EBITDA for the next fiscal year?I am studying the comparable analysis. The fiscal year ended Dec 31. Now I know EV/EBITDA (LTM-10/01/2017) = Enterprise Value / LTM 2017 Sales = $ 1,500 million / $ 1,415 million = 1.1x. 1. How can I calculate the EV/EBITDA (NFY - 2017E)? How can I know the [2017E EBITDA]? 2. How can I calculate ...
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Laid off analyst still unemployedBeen laid off and it has been 5 months and I have yet to nail anything down. I was in a Capital Markets Group at a BB in NYC and it has been very difficult for me to get the next gig. Anybody else experiencing the same thing? I have had a bunch of final rounds but have been unable to land an offer a...
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US BB IBD Analyst --> Asia Buyside Recruiting?Hi all, I'll be joining a top BB in the US next year as an IBD analyst and am interested in buyside recruiting in Asia (HK or SG) in case I don't receive an H1-B visa. Does anyone know what the process might be like for someone who is not a Mandarin speaker, and how valued the US experience would be...
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JP Morgan Junior Investment Banking Analyst ProgramRecently saw a posting for this program go up. Can anyone cast any light on what it actually is? From what I understand it's a 1 year program, then after do they cut you or are you asked to stay on given good performance? Insight into comp and details about the program would be appreciated as well!...
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Company Review: JPMorgan Chase - SolidGreat culture. Smart MDs who were always willing to lend a hand. Talented middle level as well, mostly ex IBD.. Not great compensation, poor career path going forward. Directions were unclear at times, but that’s likely group specific. ...
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Background check question here!In my application and job history I documented information about all of my past employers but I did not include my father's company. I have done basic bookkeeping work for him for years and am on they payroll for small salary related to it. I didn't include it because the work is not relevant and ...
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Buyside Recruiting on OPTLong time lurker here. Should def contribute more to WSO going forward. I was wondering if any of you did buy side recruiting while on OPT. Any advice? With the headhunter meeting season kicking off, I’m trying to plan out how to best approach them. Ofc I’ll be straight with them concerning t...
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Company Review: China International Capital Corporation - CICC HK reviewenvironment is pretty mild. good deal flow good deal flow good deal flow good deal flow good deal flow good deal flow . heavy workload heavy workload heavy workload heavy workload heavy workload heavy workload heavy workload less bonus ...
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Top 20 US Uni or Warwick for IB?I am a high school senior looking to break into IB. I have an offer from Warwick and potentially an offer from a university ranked 11-20 in the United States (think along the lines of Vandy, Northwestern, Berkeley). Assuming I get into both, which one betters my chances?...
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Money vs. ExperienceAt what point does a higher salary/bonus trump gaining better experience? Disclaimer: I do not work in IB. I work about 50 hours a week (60 at best during a busy time) at a BB in what is considered a “more desirable” group within Corporate/Commercial Banking. While my pay is decent, I have rece...
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Houlihan Lokey Bonuses ChicagoDoes anyone have any idea what current bonuses have been for the Houlihan Lokey Chicago Corp Fin group ? ...
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Company Review: HSBC - Great Investment Banking HouseGreat and smart people working on a breadth of landmark transactions. 12 hours on a decent day, 18 on a bad one. . Far too bureaucratic with many inefficient processes. Slow increments. Base pay and bonus could be better. ...
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2018 FT/Off-cycle London Recruiting Timeline Megathread***UPDATED AS OF 04/12/2017*** Title says it all - the 2018 FT IB mainly covers the US schools so I thought I'd start one for London ones. BBs: Goldman: Open (apparently had to attend an August networking invite, apparently offers are out NEW: IBD sent out Hire vues a few weeks ago) JPM: Open - ...
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De-levering Interview QuestionA company trades at an EV/EBITDA multiple of 10x and has a Debt/EBIDTA multiple of 6x. What multiple (EV/EBITDA) would the company need to sell some of its assets for if their priority is to de-lever? Not sure about this one... thoughts?...
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How do you get from EBITDA to free cash flow?I got asked this in an interview and it tripped me up. I can get from Revenue to FCF. My thought process is you take Rev - COGS - Operating expenses = EBIT, then take EBIT * (1-tax rate) then add depreciation, subtract change in working capital and capex. So to go from EBITDA to FCF do you subtrac...
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Company Interview: Mooreland Partners - Mooreland PartnersFocused more on the tech sector rather than finance. Lots of questions about current trends in the market, current M&A deals that have taken place and what new start ups and tech companies were notable. I was asked to broadly explain the M&A process through each step. What I thought were key attri...
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Company Interview: HSBC - Global Banking & Markets Analyst - off-cycle internship### Online test What do you do when the MD suggests not telling the client proper odds of a deal getting done and you've voiced your opinion stating that you feel HSBC should be honest with the client but the MD says he knows the client better? ### Phone interview What's more important, logic or ...
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Saving Time Bitches (Investment Banking & Private Equity)That's right. It's summer time. Although doing deals and pounding out diligence is sweet, the Hamptons are sweeter. How can we save time to get out of the office faster? Putting together a list of best practices and techniques (applicable to junior PE & banking professionals). There are a few pre...
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2018 Full-Time IB Recruiting Timeline Megathread PageSee the 2018 IB Summer Analyst recruiting megathread here Updates: * Wells Fargo is only accepting applications on July 12th for FT IB and S&T. * Goldman Sachs applications will open July 15th * [Guggenheim is open.](https://guggenheim.wd1.myworkdayjobs.com/en-US/External_Careers_Site/job/N...
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Mizuho SA 2018 RecruitmentIs anyone going through the Mizuho IB recruitment for SA 2018? Has anybody interned at Mizuho and care to elaborate on the bank and their experiences?...
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Anyone heard of CFI: Corporate Finance Institute?Here's the legit looking website: https://corporatefinanceinstitute.com/resources/careers/how-to-job-guides/ Anyone with a first-hand experience with this website? Thanks, Yasir...
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DCM PathI'm interested in going into DCM. Yes, I understand that it usually comes with a sacrifice in regards to exit opps. Any insight on whether or not the "path" of going into DCM is any different than it would be for M&A? Tips on internships, target schools, competition, etc. would be helpful.... Mo...
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Company Interview: Morgan Stanley - Investment banking summer analystWhat is the yearly revenue of the starbucks downstairs? How would you value an energy company? How has the energy markets performed and which subverticals do you think will be most affected by the downturn in oil prices? How does the macroeconomic environment look? How will the strength of the U...
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Sell-side advisory for midsize MedTech firmI am looking for sell-side advisors for my company, MedTech and expect to transact around $80-100M. Company is very strong in China. Would BBs be interested in working with me or is the transactin size too small? should I only contact MMs? I would appreciate recommendations for firms that have stron...
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How legit is the whole Corporate + Investment Banking edge for banks moving forward?I've heard on occasion from some senior bankers that the whole combined Corporate + Investment Banking edge (i.e. JP/Citi/BAML) will be increasingly important for snagging deals in the future (have heard this especially from bankers FROM those banks...) Also, Citigroup's strength in the league tabl...
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Company Review: BMO Capital Markets - BMO Capital Markets IBDThe best thing about the company was the camaraderie. The juniors (analyst, associates) were very close and hung out outside of work. There was a collegiate culture and no one threw anyone else under the bus. If you had trouble performing, staffers would make an effort to understand why and to bring...
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11 Cardinal Sins of Economics from last lecture by my professor @ a top 10 b-schoolI currently go to a top 10 business school and these were the "11 Cardinal Sins of Economics" to wrap up the last lecture of my managerial econ course. Thought I would share this. Feel free to expound and discuss your opinions. 1) Our company must be worth more than that we paid for it. 2) Costs ...
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What is basic shares outstanding? How to find it in 10K?I am calculating [Diluted shares outstanding = Basic shares + In-the-money options - Shares repurchased under TSM]. However, I do not know what the "basic shares" here exactly means. Does it refer to the number of "Weighted Average Shares Outstanding" in Income Statement or the number of "Common & P...
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First year internship for investment bankingHey guys, I'm a first year student at a target school in the UK. My long-term goal is investment banking at one of the bulge brackets or one of the M&A advisory boutiques. I'm looking for a first year internship that would bring me into a good position to apply for summer analyst programmes after ...
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How much does your undergrad GPA matter after 1st job?After the first job, without regarding business school, how much does your undergrad GPA matter? Say you're trying to go to another firm after say 5-6 years after the one after graduation, would the potential firm look at GPA in a large manner?...
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Lehman VS Goldman VS Lazard VS UBShey ya'll, this site has been amazing, i have learned so much from everyone, so i finally decided to create an account! i received IBD offers from Lehman, GS, UBS and Lazard, however I am completely unsure of which one to take. How would you rank those four? would u mind ranking them in order for...
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Cowen 2018 Investment Banking Analyst ProgramI just heard back from Cowen about ranking preferences for coverage/product/location. Has anyone else heard from them about the 2018 analyst program?...
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Greenhill's franchiseI'm interested to know what folks think of Greenhill's franchise--particularly those with real experience. It seems several years ago, the consensus was it was still one of the more sought after spots on the Street. Now, when I look across threads, I rarely see Greenhill mentioned along with Evercor...
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Company Review: RBC Capital Markets - Would recommendflat hierarchy and strong culture, with the ability to learn a lot during your internship. I completed it last summer and enjoyed my experience.. Large corporation and with that comes admin burdens as well. Certain tasks aren't the most elegant but gets pushed down analyst level....
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Fully Diluted Shares Outstanding Hi, This is my first time creating a Comparable Companies Analysis and I'm using a financial valuations book to help guide me through the process. I'm a bit confused on calculating equity value. I know the equation is Share Price x Fully Diluted Shares Outstanding, but I'm confused about c...
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Will FT Job Offer be Rescinded for Academic Dishonesty (Cheating: F in Class that I have to Retake)?I signed a job offer with a smaller but recognized IB in NY last month and they had my transcript with them (which I sent them) during the interview process. However, I just found out that I will get an F in a class I am taking this semester (my first semester of senior year) and that I have to reta...
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Wall Streeter with Harvard Medical DegreeHello. I am a high school student and my dream is to work for some major bank on Wall Street. I think a Degree in Finance or MBA is mediocre and wondered if a medical degree from Harvard would be better. I would be referred to as doctor and have higher status than those guys with useless MBA degrees...
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Valuation of a $10M company with 50% licensing and 50% service revenueTitle says it all. Was asked this on an interview. What is the value of a company with $10M in revenue of which 50% comes from licensing and 50% from services. How do you get to your answer? I also asked a follow up question, how much is EBITDA? and he said assume 25% even though I think this que...
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Company Review: BMO Capital Markets - Good ExperienceThe people are top notch within Canada with the senior bankers being global industry leaders (especially in the mining group) and the junior people are great people who are very open to helping you. . - As an intern, you are given a lot of the 'bitch work' and have to jump through a lot of hoops to ...
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Company Review: JP Morgan Securities - 3- great benefit package and salary - constant information flow and access to the smartest minds around. - easy to get lost in large institution if you're not networking and seeking out mentors - doublework & facetime... ...
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As an M&A Investment Banker, What Value Do You Actually Add?There it is. The age-old question that continuously pops up, especially when it comes time to sign an engagement letter. I know what our seniors say, but am more curious to hear what you think the value is that M&A bankers actually add. Is M&A advisory dead? A dedicated corporate development team ...
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FT Partners Associate - Online AssessmentHi all. I have an interview with FT Partners for an Associate position. As part of it they require you to complete and online assessment that goes for roughly 30 minutes Has anyone completed this assessment before or has knowledge of what type of assessment it is? Behavioural? Maths? Etc. Thank...
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Is Indiana University Kelley School of Business a target school for IB?I am deciding on what undergraduate business college to go to and I came across IU Kelley. I was wondering what all of you think about the school. ...
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Breaking into London Investment Banking as an International studentI have been a WSO reader for a long time and I am heading to UK for undergrad this september to do my undergrad in economics and finance at a strong semi target university. Due to the Visa problem for Non EU students how hard will it be to break into Investment banking in London? ( its already hard ...
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Houlihan Lokey - LAHey guys, There's very little information available online on Houlihan Lokey and their LA office, despite being headquartered there. I know their RX group is one of the best, but there is conflicting information on its culture and hours. So if any intern or monkey working on the west coast has any...
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Buy side fees versus Sell side fees?Are buy side fees more lucrative than sell side fees? Should you try to get staffed on buyside projects for more fees?...
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Moyer Restructuring Guide PDFDoes anyone have the PDF of Distressed Debt by Stephen Moyer? I'd really appreciate it, hardos. Thanks in advance. ...
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Company Review: Barclays - Barclays - Good direction, good peopleCulture, morale, overall group strength, company direction, work life balance, firm prestige, group placement process. Few elite groups, several non traditional ib groups despite accepting ib offer, no centralized m&a group (not necessarily a con)...
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Finance major or Mathematics/Philosophy double majorHey, I'm in my first semester of university and I'm really not sure if I should be in this finance major or if I should do a double math/phil major. I know it's kinda early to say this, but I don't think I will really like the finance program. Right now I pretty much dislike all my classes but econ...

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