What exactly do you do your first year as an IBanker?

Career Opportunities & Internships Investment Banking
1

<p>Could anyone tell me the basic job description of a first year investment banker and what tasks they usually perform?</p>

<p>Thanks</p>

2

<p>anyone? Please?</p>

3

<p>Depends what position? Analyst or associate? Depends what bank.</p>

4

<p>pretty sure I’ve posted this link before</p>

<p>[What</a> Do Investment Bankers Do? | Mergers & Inquisitions](<a href=“http://www.mergersandinquisitions.com/what-bankers-do/]What”>What Do Investment Bankers Do? A Non-Boring Answer)</p>

5

<p>^^^very good website. Read through as many of the articles as you can</p>

6

<p>First year is probably a bit different than what experienced do. [Let</a> me google that for you](<a href=“LMGTFY - Let Me Google That For You”>LMGTFY - Let Me Google That For You)</p>

7

<p>^i checked google but it didn’t really focus on first years. I was just wondering if you get people coffee and type numbers in the spread sheet.</p>

<p>thanks to the link a few posts above- thats great info</p>

8

<p>Update spreadsheets all day, errrrryday. Revise. Revise. Revise again. Occasionally update charts and put together powerpoint presentations. REVISE. add commas. REVISE!</p>

9

<p>You work a lot. A lot.</p>

10

<p>You be a ***** your first year. Working 80-120 hours a week working on pitchbooks. You also change fonts and make edits such as fix commas, font size, etc. Seriously, that’s al you do. [WallStreetOasis.com</a> | Your Finance Community. Advice on Finance Interviews and Careers in Finance.](<a href=“http://Wallstreetoasis.com%5DWallStreetOasis.com”>http://Wallstreetoasis.com)</p>

11

<p>I mean, edits (commas/fonts) can’t be ALL you do
No research? No meetings?? No opinions or decisions at all? Not even once a week?</p>

12

<p>^^not much…actually it depends. If you’re at a small boutique or if you are lucky enough to become an analyst in PE/HF out of UG, you’ll get facetime =D</p>

13

<p>Editing won’t be ALL you do but it will feel that way. Yes you do some research, yes you participate in meetings, but no you won’t make too many decisions, wtvr that means.</p>

14

<p>you spend a ton of time spreading comps, which would fall under (really ****ing boring) “research”</p>

15

<p>@ dartmouthforever do you really expect someone who asks this type of question to have any clue what spreading comps means?</p>

16

<p>Spreading comps in 6 easy steps:</p>

<p>1) Look up the company’s filings (10-K and 10-Q) on Capital IQ.</p>

<p>2) Pull equity research on the company from whatever sources you use.</p>

<p>3) Enter the company’s cash, debt, share count (and options table if you want to be precise to get the diluted count) from the latest filing.</p>

<p>4) Enter the company’s trailing-twelve-months revenue and EBITDA (and probably more metrics depending on industry but let’s just keep this general for now) by:</p>

<p>a) Entering revenue from latest 10-Q and 10-K and then subtracting revenue from 10-Q a year ago.</p>

<p>b) Entering EBITDA from latest 10-Q and 10-K and then subtracting EBITDA from 10-Q a year ago. To find EBITDA, start with Operating Income and add back the Depreciation & Amortization on the cash flow statement as well as any one-time charges… comb the footnotes of the filing for one-time and unusual charges like lawsuits, settlements, etc. and add them back. This is the fun part of the process.</p>

<p>5) Enter projections from equity research analyst… usually two years forward (so 2011 and 2012). Look up the revenue and EBITDA from report and enter them.</p>

<p>6) Make sure everything ties out and get your multiples… in this case, TEV/R and TEV/EBITDA.</p>

17

<p>PM me if you want to see an actual pitchbook from an IBank</p>