I have this interview next week. Advice would be appreciated. What would estimated pay be? Etc. ------------------------------------------------ Interns in the division at firm will assist our team in evaluating potential acquisition opportunities, help with competitive market/business analysis, and perform other miscellaneous valuation related projects. This experience will provide interns with the opportunity to begin building a strong working knowledge of the mergers and acquisition process and provide the intern with a better understanding of the valuation process in the financial services industry. The successful corporate development intern candidate will assist dept in carrying out the following responsibilities: Analyze data on acquisition candidates. Use financial modeling skill to develop recommended pricing levels and the impact on firm’s financial position Prepare transaction summaries for presentation to Senior Management and the Board of Directors Validate the financial performance of acquisition opportunities through the conduct of on-site financial due diligence investigations. Interact with other departments to accurately identify the risks associated with such transactions Prepare market analyses to identify attractive expansion opportunities for firm Perform competitive market analysis by researching market trends, competitive landscape, and best practices Qualifications Basic Qualifications: -Working knowledge of financial analysis techniques and general accounting procedures -Well developed mathematical and analytical skills -Ability to identify and resolve exceptions and to analyze data -Very good verbal and written communication skills -Extremely detailed oriented -Ability to work independently and also in a team environment
Pay I believe would be around 75 + Bonus for not top 10 business school. Very good oppor for starting your career.
This is a research and analysis-oriented job, so you’ll be supporting the deal teams by doing a lot of company and industry research on potential transactions. However, it’s interesting that they also include some valuation and modeling experience as well. Overall this looks like a pretty interesting internship opportunity where you’ll have a chance to really engage with your transaction teams, rather than just doing scud work (at least based on the description). The fact that you’ll be entrusted with valuation work is definitely a positive. People have discussed extensively what you can expect for a banking interview on this forum, so I’ll trust that you’ll review previous posts and prepare responses that highlight your enthusiasm for banking, as well as your leadership and collaborative skills. Also know your typical valuation/financial statement analysis material, which you should be prepared for given your CFA experience. Not sure what the compensation will be like – could be anywhere from $0.00 to a $70-80K base pro-rated given that it sounds like it’s a regional bank.
I feel like I’ll nail this position. A IB/PE competition I participated in earlier this year really got my hands on valuation, pitchbooks, and how a deal works. I’ll search for older posts on the interview questions. This is not an IB fyi, it is a large bank in my city.
I would estimate that pay would be $60-$70K (prorated) for an internship. Use your past experience to show that you’re familiar with the process and can be analytical/detail-oriented. Be able to describe what the ideal career is for you, and why your past positions (if unrelated to M&A) were not a good fit (and be able to relate that back to why M&A is a good fit. Good luck!
FYI, I’m 99% sure this application response came as a result of my modified resume. Thank you Numi for improving the layout and content. His insight and presentation modification surpassed the assistance I got from my B School’s career services. For those on the fence, a pittance paid for a resume review may tip the scale on the other side when recruiters are on the fence.
I have a hard time believing that it would be any more than $40k for a internship. I think that anything over $40k is a far stretch.
QuantJock_MBA, just out of curiosity, are you currently in b-school? Are you interviewing for this position for your summer internship?
ook Wrote: ------------------------------------------------------- > QuantJock_MBA, just out of curiosity, are you > currently in b-school? Are you interviewing for > this position for your summer internship? Yes and Yes.
QuantJock_MBA Wrote: ------------------------------------------------------- > ook Wrote: > -------------------------------------------------- > ----- > > QuantJock_MBA, just out of curiosity, are you > > currently in b-school? Are you interviewing for > > this position for your summer internship? > > > Yes and Yes. Ah, I see. I was just curious if someone in the work force currently would be applying for an internship. But now I understand your situation. Good luck with the interview and let us know how it went.
Is this an internal corporate development gig? Or is it IB? We had an MBA intern last summer and I think he got paid around the $32-$36/hr range. We basically tried to give him a flavor for the different kinds of projects, so we had him do some research for a few things and then also let him take the lead in building a model for a project. My guess would be that the actual mix you end up with will just depend on the current ebbs and flows and where they need man power.
QuantJock_MBA Wrote: ------------------------------------------------------- > FYI, I’m 99% sure this application response came > as a result of my modified resume. Thank you Numi > for improving the layout and content. > > His insight and presentation modification > surpassed the assistance I got from my B School’s > career services. > > For those on the fence, a pittance paid for a > resume review may tip the scale on the other side > when recruiters are on the fence. Thanks for the kind words - I’m glad I was able to help. You’ve come a long way, and I’m confident that you’ve positioned yourself well for this interview based on what we’ve discussed. At this point, perhaps the most valuable thing anyone can tell you is to just relax, be confident and enjoy the opportunity to meet with the bankers.
artvandalay Wrote: ------------------------------------------------------- > Is this an internal corporate development gig? Or > is it IB? > > We had an MBA intern last summer and I think he > got paid around the $32-$36/hr range. > > We basically tried to give him a flavor for the > different kinds of projects, so we had him do some > research for a few things and then also let him > take the lead in building a model for a project. > > My guess would be that the actual mix you end up > with will just depend on the current ebbs and > flows and where they need man power. I think you know what bank I’m talking about. It is more on the corp dev gig as you mentioned above.
QuantJock_MBA Wrote: ------------------------------------------------------- > FYI, I’m 99% sure this application response came > as a result of my modified resume. Thank you Numi > for improving the layout and content. > > His insight and presentation modification > surpassed the assistance I got from my B School’s > career services. > > For those on the fence, a pittance paid for a > resume review may tip the scale on the other side > when recruiters are on the fence. Were you paid for this plug or did he do your resume for free? You have to disclose this information.
QuantJock_MBA Wrote: ------------------------------------------------------- > artvandalay Wrote: > -------------------------------------------------- > ----- > > Is this an internal corporate development gig? > Or > > is it IB? > > > > We had an MBA intern last summer and I think he > > got paid around the $32-$36/hr range. > > > > We basically tried to give him a flavor for the > > different kinds of projects, so we had him do > some > > research for a few things and then also let him > > take the lead in building a model for a project. > > > > > My guess would be that the actual mix you end > up > > with will just depend on the current ebbs and > > flows and where they need man power. > > I think you know what bank I’m talking about. It > is more on the corp dev gig as you mentioned > above. Ah yes, I figured it out. It may be worthwhile to review how valuing financial institutions differs from standard FCF models. It’s call the equity method.
I paid for his service. After getting close to 0% response from intern postings online, I knew that something had to change. Ever since, I’ve had a steady response from good reputable intern postings. It could be a coincidence, but I believe a logical reason for this was simply the reformatted resume. No payment for the plug or concession at all from Numi. He’s simply a good guy who’s helped me out a great deal with career guidance. He’s helped me out, so I’m vouching for his service in return.
artvandalay Wrote: ------------------------------------------------------- > > > Ah yes, I figured it out. It may be worthwhile to > review how valuing financial institutions differs > from standard FCF models. It’s call the equity > method. Can you elaborate? I don’t know this right off the cuff. Is this an interview question?
investing.business.uconn.edu/2009_managers/MBA/…/finstitutions.pptx The basic idea is that the traditional FCF measure doesn’t make sense for banks, so a modified approach is used. I don’t think it would be something they would ask, but it’s probably good to be aware of at least generally going into it.
A guy works for my friends hedge fund who has an MBA from MIT, graduated last year. You know what they are paying him? Nothing. Alot of new MBA grads will work for free apparently to avoid having a gap in their resume. I wouldnt count on too many clams for this job, if any at all. The job description you posted sounds more like resume building. Just sayin, though Im not in the industry.
artvandalay Wrote: ------------------------------------------------------- > investing.business.uconn.edu/2009_managers/MBA/… > /finstitutions.pptx > Could you please provide another link, this one is not working. I am interested in this information. Thanks