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Sponsors for Educational Opportunity Investment Banking Overview Part 2 . Patrice Mitchell & Andrea M. O’Neal Co-Managers, Investment Banking Program. Roles within Investment Banking. Managing Director Manages the relationship between the client and the bank

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sponsors for educational opportunity investment banking overview part 2
Sponsors for Educational Opportunity

Investment Banking Overview Part 2

Patrice Mitchell & Andrea M. O’Neal

Co-Managers, Investment Banking Program

roles within investment banking
Roles within Investment Banking
  • Managing Director
    • Manages the relationship between the client and the bank
    • Negotiates terms of the deal and fee structure
  • Vice President
    • Manages the deal/pitch process
    • Reviews all work before it goes to the MD
  • Associate
    • Checks the analyst(s)’ work
  • Analyst
    • Builds the financial model
    • Performs valuation analyses
    • Constructs the pitchbook
  • Summer Analyst
    • Assist the analyst
analyst responsibilities
Analyst Responsibilities
  • Performing financial valuation, discounted cash flow (DCF) and multiples-based analyses (comps)
  • Building and using financial models
    • Financial models are tools constructed in Microsoft Excel used to forecast a Company’s operating performance
  • Preparing presentation materials and drafting registered documents for the SEC
    • Pitchbooks are presentations made to clients highlighting idea(s) to address company-specific needs
    • Drafting sessions are meetings between the client, bankers and lawyers where the aim is to generate a “clean” document for the government and potential investors
  • Conducting industry and product research
attributes of a good analyst summer analyst
Attributes of a Good Analyst / Summer Analyst
  • Attention to detail
  • Strong work ethic
  • Quick learner
  • Ability to communicate effectively
  • Understanding of accounting principles
  • Solid quantitative, analytical and technical skills
  • Familiarity with Microsoft Office – tech savvy
benefits of a position within investment banking
Benefits of a Position within Investment Banking
  • Exposure
    • Unrivaled access to senior management of multinational and multibillion-dollar corporations
  • Prestige
    • Advising corporate clients on financings and M&A opportunities
    • Participation on the “headline grabbing” deals
  • Transferable Skills
    • Modeling
    • Valuation – Comps, DCF
    • Financial Statement Analysis
    • Multitasking, proven work ethic
day in the life
Day in the Life
  • 9:00 a.m. – Rush out of the apartment to the subway station for a 30-minute commute.
  • 9:30 a.m. – Quickly check e-mail, calendar and status of current projects
  • 10:00 a.m. – Quickly browse the Wall Street Journal, Yahoo! Finance and Bloomberg to get up to speed on market news
  • 10:30 a.m. – Start working on the ever-growing list of things to do. Review financial model for project #1 before sending it to other members of the deal team. Prepare comps for project #2.
  • 1:10 p.m. – Grab lunch; sometimes an hour, most of the time you need to eat at your desk.
  • 1:30 p.m. – The associate on project #1 reviewed the analysis and provides constructive comments, which are “turned” (incorporated) into the model.
  • 2:30 p.m. – Conference call to discuss model for Project #1, which produces more issues/questions that need to be addressed.
  • 3:30 p.m. – Start the pitchbook presentation for project #2 by putting together a “shell” (outline).
  • 4:00 p.m. – Grab coffee with co-workers
  • 4:15 p.m.– Get back to the office and get cranking on the revised model; Complete revisions and send to the deal team before 6:00 p.m. deadline. Send shell of presentation (Project #2 to associate)
  • 5:30 p.m – Send out the revised model (after the associate review it)
day in the life cont
Day in the Life (cont.)
  • 6:00 p.m. – Start working on project #3; this one requires updating an old pitchbook for a different client with current market data
  • 7:30 p.m. – Dinner time. Order with a bunch of colleagues from online delivery service
  • 8:30 p.m. – Return to cubicle with a heavily, marked-up copy of the presentation for project #3
  • 11:00 p.m. – After turning all the comments, send the revised version to associate who does a final review and sends it to Production.
  • 11:15 p.m. – Reopen the model for project #1, continue working on analysis
  • 12:30 a.m. – Finish up the comps for project #2, send them to the associate for review.
  • 1:00 a.m. – Production calls to inform the analyst the books are done; “Flip the books” which means turn each pitch book to make sure all pages were printed correctly and are in the appropriate order
  • 1:30 a.m. – The books are flipped and send them by car service to one of the attendees of the meeting the following day. 2:15 a.m. – Stop working on model and comps when all previous comments are incorporated and issues are resolved; catch a cab to get home; rest for another busy day
next steps
Next Steps
  • Zoologic
    • Intro. to Securities Markets
    • Intro. to Corporate Finance
    • Intro. to Analyzing Financial Statements
    • Time Value of Money
    • Intro. to Equity Valuation
  • Recommended reading list
    • Training the Street: Valuation
    • Liar’s Poker
    • Monkey Business
  • Vault Career Guides
    • Invest Banking
    • Finance Interviews (quick math and case study)
    • Top 50 Banking Employers
  • Webinars
  • SEO alums
  • Enroll in finance and accounting courses
more resources
More Resources
  • Periodicals
    • Wall Street Journal
    • Financial Times
    • BusinessWeek
  • Internet
    • http://dealbook.blogs.nytimes.com/
    • http://finance.yahoo.com
    • http://money.cnn.com
    • http://bloomberg.com
    • http://investopedia.com
    • SEO Partner Firm websites
  • Television
    • CNBC
questions
Questions?

Patrice Mitchell

pmitchell@seo-usa.org

Andrea O’Neal

aoneal@seo-usa.org