Anyone heard of Axelon?
opinions/ experience?
I have had a couple of messages from them in the past couple of years.
just the name sounds like a B.S. firm...
email w/ (212)-34-6537 #
.....
scam or just marketing?

recruiting 2017

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Thoughts on "Re-Imagining Investment Banking"?

March 15, 2017, 4:11 pm

≫ Next: Will I Get Drug Tested?

≪ Previous: Axelon or Axel Off

https://www.linkedin.com/pulse/reimagining-investm...

How much of this is happening now, or ever likely to happen? My own take: Investment banks struggle to adopt even very basic, and very obvious technology. The idea that they'll build or buy sophisticated AI to perform valuable work seems totally unrealistic. Yet the author is a senior technologist at Merrill, not some ivory tower dreamer.

Investment Banking

fin tech

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Will I Get Drug Tested?

March 15, 2017, 10:32 pm

≫ Next: Why have intangible assets in the first place?

≪ Previous: Thoughts on "Re-Imagining Investment Banking"?

Got a 2017 SA position in NorCal.

-Bud is legal in CA.
-There are only a few other interns (<5).
-Last year SA going back FT told me she didnt get a drug test.
-No mention of drug test except in background check release it says, "The information that may be included in your report include: social security number trace, authorization to work checks, criminal records checks, civil record checks, financial information and credit checks, federal record checks, public court records checks, driving records checks, drug tests, physical tests, educational records checks, employment history verification, references checks, sanction, licensing and certification checks."

Only the part that says drug tests in that release form worries me, but no details after that. Am I good?

P.S. I already know I'm gonna receive plenty of hate for this millionth drug test post, so if you're gonna insult me, make it a good roast :) (might get an SB...)

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Why have intangible assets in the first place?

March 15, 2017, 11:08 pm

≫ Next: Courtship in IB Recruiting?

≪ Previous: Will I Get Drug Tested?

Was having this discussion in a venture cap valuation class, and couldn't really fully discuss.

Why are intangible assets even placed on the balance sheet or more importantly, why do they matter in a DCF valuation? The value of intangibles I feel is already reflected in any substantial revenue growth/projections. Along similar lines, what exactly does amortization reflect? Depreciation reflects wear and tear and maintenance of the current quality of capital. Intangibles like brand name or recognition occurs as a result of investment in actual, material capital whose cost is captured by depreciation, so what exactly does amortization relate to?

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Courtship in IB Recruiting?

March 16, 2017, 1:00 am

≫ Next: Should I renege this late??

≪ Previous: Why have intangible assets in the first place?

Hey Monkeys,

So I go to a pretty big target school in the midwest for B4 accounting firms, and currently have public accounting as my backup plan if IB doesn't work out.

I'm in beta alpha psi, which for those who aren't familiar is a professional accounting organization. Anyways, last week we had a meeting with representatives from EY, and to my surprise they sent three partners, and four mid-level accountants to meet with about 30 undergraduates on a Thursday night!

In the networking social after, I spoke with all three partners for over five minutes each, and one invited me to their Minneapolis location for a private office tour and lunch. The other two added me on LinkedIn and said we should keep in touch.

I'm curious to those that go/went to an IB target school (or anyone with IB recruiting experience) is this kind of courtship at all found in IB recruiting? If not, what is the extent of courtship for IB recruiting?

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Should I renege this late??

March 16, 2017, 6:35 am

≫ Next: Bloomberg Marked Data Summer Analyst vs Capital One Business Analyst

≪ Previous: Courtship in IB Recruiting?

So basically my question is: should I renege my offer at a MM for a JA position at JPM?

Background: I signed a mid tier MM offer back in Dec when they gave me one and I continued recruiting. I recently got an offer at JPM as a Junior analyst (basically one year below 1st yr analyst) in a mid-tier group that is not super sought after, I kept recruiting cause I applied for it before I got the offer at the MM and I never thought I would actually be able to get it somehow.

The position at the MM is a FT first year analyst position and the MM is a very well respected one on the street and the compensation is higher.. If I renege, especially this late... I am sure they will be pissed off and I don't know if both offers will fall through, realistically speaking. I know it's bad and has consequences and I normally wouldn't do it if it's for some other BBs cause the risk is high, but I was tempted and wanted to give this a thought cause it's JP and it's really hard to get into, I worked very hard to get to this point and jumped many hoops.

MM: M&A analyst (I like M&A)
JPM: Coverage group (I don't like the industry very much but I was hoping to switch to other groups after a year.)
Future: Hopefully stay in banking? But not sure, won't go back to b school.

I normally wouldn't want to do this but I saw some of my friends reneging, it was bad but they got out fine and now working at shops they want to work for. So my question is should I renege? I am currently leaning towards that and hope to get some objective advice.

Pls don't come ask why did I get the offer at JPM and other kids haven't heard back, I am very lucky and that group moved fast, that's all.

Thanks!

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Bloomberg Marked Data Summer Analyst vs Capital One Business Analyst

March 16, 2017, 6:47 am

≫ Next: Big 4 - Transaction Modelling

≪ Previous: Should I renege this late??

Eventually I would like to go into Asset Management or Trading but unfortunately I couldn't land an internship in either of those fields yet. The Capital One internship is in Product Management and Analytics.

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Big 4 - Transaction Modelling

March 16, 2017, 7:15 am

≫ Next: WSO Hall of Fame: Investment Banking Forum

≪ Previous: Bloomberg Marked Data Summer Analyst vs Capital One Business Analyst

Hello,

I made a thread recently on a related topic, but I have now narrowed down further exactly what this group does, and I am looking for some further insight.

To briefly summarize, I am in Big 4 Audit, looking to move to IB. To do so I am making an internal move to one of the Transaction departments. The actual M&A team is off limits, so the departments I can target are; financial due diligence, valuation, transaction modelling.

I have been offered a role in the Transaction Modelling department. Could anyone provide some insight into how this group would be viewed as a stepping stone to IB? I am worried that it might be too technical (if that is possible) and operational focused. It seems preferable to Valaution, which has a lot of post deal work, however when compared to FDD I think the experience will be more narrow. I've listed some recent projects that the group has done; would really appreciate some evaluation of what exits this team would provide.

Provision of a flexible integrated financial model to support a purchaser's understanding of their target's working capital cycle and the business' underlying value

Our client sold a UK-based distributor of long-haul scheduled flights, hotels and car hire, to a Dubai-based travel company for a total consideration of PS45m.
The target has many revenue and cost streams with differing complex working capital cycles. In supporting the purchase price it was imperative that a sophisticated financial model was constructed and made available to the purchaser and its advisors. The model's objective was to demonstrate the intricacies of the working capital cycle and management's view of the value in the underlying business.

Provision of a flexible integrated financial model to evaluate a range of divesture options

After a difficult period of trading followed by a debt-for-equity swap, our client, a financial institution, took control of a PS175m revenue UK pub business, and needed to evaluate a number of disposal and restructuring options with a view to potentially exiting over the short to medium term.

Provision of a flexible pre-IPO working capital adequacy model

Our client, a UK house builder, was controlled by an investment management partnership following a series of financial restructurings.
Our client had well established systems and processes for tracking land purchases and developments site-by-site but lacked an integrated financial model that could assist them in forecasting business performance, operating and financing cash flows over the next five years and stress test their long term business plan.

Thanks,

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WSO Hall of Fame: Investment Banking Forum

May 13, 2016, 1:22 am

≫ Next: Business Jobs for CFAs - outside of Asset Management, Equity Research?? Thanks!

≪ Previous: Big 4 - Transaction Modelling

The Wall Street OasisInvestment 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 navigatehere. If you think we missed a post that should be included in the Hall of Fame, please e-mailAndy@wallstreetoasis.com the request.

Click on a Topic Below to Reveal the Best Relevant Discussions:

Investment Banking 101: Understanding The Basics

What is Investment Banking?
Interested in Investment Banking? START HERE
Young People of WSO: What is with this fascination towards IB?
P/E vs. EV/EBITDA - Advantages/Disadvantages?
EBITDA vs. Operating Cash Flow vs. Free Cash Flow
Working in FIG (Financial Institutions Group) - An Overview.
An Overview of Technology Media and Telecom (TMT) - Part 1 of 2
An Overview of Technology Media and Telecom (TMT) - Part 2 of 2
Basic Overview of the Consumer Sector
Oil and Gas Overview
IBD vs. Capital Markets - How different are they?
Healthcare Overview... Part 1?
Overview of Leveraged Finance
Just So You Guys Know...
David and Goliath: The Boutique and The Bulge Bracket
WSO Finance Dictionary

Networking & Recruiting

UG Recruiting Part I: How A Resume Becomes An Interview
UG Recruiting Part II: The First Round Interview
UG Recruiting Part III: The Super Day And Offer
Regional Boutiques Investment Bank List By City
Cold Emailing For Internship
Guide: Cold Contacting Investment Bankers For Non Targets
Good Questions To Ask In Coffee Chats
Target vs. Non-Target
The Non-Target Curse
School Representation On Wall Street This Year Is Shocking
Lateraling Guide
IB Background Checks: What You Need to Know
The HR For Trading Is Full Of Idiots
Be Careful what you write to HR (Real Life Example)

Helpful Services
WSO Investment Banking Resume Template
Resume Review by IB Professional

Interview Preparation

Acing The Investment Banking Analyst Interview
How Do You CRUSH Your Interviews?
Notes for Technical Interview Questions
Good Responses To Biggest Weakness Questions
What Are Some Good Questions To Ask At The End of The Interview?
What's The Hardest Interview Question You Were Ever Asked?
Interview Logic Riddles/Teasers
Gekko's Guidance (10 Rules to Interviewing)

Helpful Services
WSO Investment Banking Interview Prep Pack
Financial Modeling Training - Self Study

Succeeding on the Job

Succeeding as an Intern
New To Formal Fashion? Start Here.
The Do's and Don'ts for Summer Analysts
Eight Habits Of Top Bucket IBD Summers
Week 1 of IBD Internship: Training
Week 2 of IBD Internship: Hitting the Desk
Week 3 of IBD Internship: The Pitch
Week 4 of IBD Internship: Initiation

Succeeding as a Full-Time Analyst
New To Formal Fashion? Start Here.
15 Things I Wish I Knew As A First Year Banking Analyst
Performance Of Top Tier vs. Bottom Tier Analysts (Q&A in Comments)
Some Observations from an MD
Banking Lifestyle: What Are The Hours Like REALLY?
Staying Awake?
Is It Possible To Stay Healthy/Fit In Banking?
How Should I Read WSJ?
Dating As An Investment Banking Analyst

Helpful Services
Financial Modeling Training - Self Study

Exit Opportunities & Transitioning Out of IB

Life After Investment Banking
Leaving IB, Next Steps...
Why You DON'T Leave Banking For B School Just To Come Right Back...
Why Are We Obsessed With "Work/Life Balance"?
Do you guys actually enjoy your jobs?
Finance Culture - Personalities
Advice From An Advisor to Senior Wall Streeters
If You Could Do It All Again...
Quitting Investment Banking
What Is Family Life Like in Finance

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Hedge Fund Interview Prep Pack
Resume Review by HF Professional
Private Equity Interview Prep Pack
WSO Private Equity Resume Template for Professionals with Deal Experience
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Humor & Other

HEY You OCR Little F*cks
OCR: The Saga Continues (Alternate Title: I Now Have Cancer of the Nose)
Silly Shit Interns Do
Interview Questions: Tell Me A Joke...
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Yet More Fun With Resumes
Jeffrey Chiang: You will never In Your Life Ever Work On Wall Street.
A Girl On Tumblr Wrote A Guide On Targeting Bankers For Money....
Pretty Sure I'm Getting Fired From SA Tomorrow
Funny Interview Stories
Worst Interview Experience?
What Would You Name Your Firm If You Had One?
For Those In IBD: Dumbest Things You've Seen In A Resume?
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I F***ING HATE NEW YORK
48÷2(9+3) = ???
Female Bankers Are Not Good At Sex
Bankers: WTF Are You Doing From 8pm To 2am?

Investment Banking

hall of fame

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Business Jobs for CFAs - outside of Asset Management, Equity Research?? Thanks!

March 29, 2017, 9:37 pm

≫ Next: Cass Business School Job UG Prospects

≪ Previous: WSO Hall of Fame: Investment Banking Forum

If you are young in your career and have the CFA charter, what viable job opportunities do you have outside of Asset Management, Equity Research, and IM? Say, you don't have that much work experience either...

What other business fields would you become attractive for?

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Cass Business School Job UG Prospects

March 30, 2017, 12:47 am

≫ Next: UBC BA ECON, QUEENS BAH ECON, Or WESTERN ECON?

≪ Previous: Business Jobs for CFAs - outside of Asset Management, Equity Research?? Thanks!

Hello!

I am a 20 year old student on a gap year and have just finished my stint at KPMG Singapore's M&A division and am awaiting for university to begin this September. Currently, I've a place at Cass Business School for the following undergrad courses: Management, Accountancy & Finance and Bank & International Finance.

I would like to work in investment banking (specifically M&A, for now) in London in the future however combing through WSO's threads, I have become aware of Cass' less-than-illustrious reputation. Thus 2 questions at hand:
(i) Will my job/internship application as a Cass Business School UG be less well-looked than from other target schools?
(ii) Which UG degree do you recommend taking/is best suited for a career in IB?

I look forward to receiving your replies!
Many Thanks,
Nbensily

Cass

Cass business school

b school

LSE; International Student; Job prospects

Asia undergrad

london

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UBC BA ECON, QUEENS BAH ECON, Or WESTERN ECON?

March 30, 2017, 1:45 am

≫ Next: What's your best elevator pitch!

≪ Previous: Cass Business School Job UG Prospects

I got into all 3 and I hope for a career in Investment banking or anything really finance related. I live in BC so UBC is definitely what I'm strongly considering but I wanted your guys thoughts on this? Some people say Queens econ is a lot better? is that true?

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What's your best elevator pitch!

March 30, 2017, 4:17 am

≫ Next: Any of you Bankers see UVA Alumni on the street? (Seeking advice)

≪ Previous: UBC BA ECON, QUEENS BAH ECON, Or WESTERN ECON?

I was wondering what's the best pitch you have given, it could be to impress a new client or to score chicks. Do you tend to keep it too short or flood it with jargon's(in case of a client), what's your type? It could be something awesome you witnessed.

I'm listening!

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Any of you Bankers see UVA Alumni on the street? (Seeking advice)

March 30, 2017, 8:00 am

≫ Next: What are some exit opportunities from Asset Based Lending?

≪ Previous: What's your best elevator pitch!

Looking for some tips and pointers from some of you who might be able to steer me on a better path.

I attend Northern Virginia Community College and am guaranteed admission into UVA; I am **NOT ** admitted to UVA McIntire. If I was to attend UVA it would be as an Econ student..

My other option is to attend James Madison University (alum database shows quite a few that have gone to goldman/JPM/bb etc from here) and attain a Quantitative Finance degree. I have heard that even Goldman has recruited at UVA and that it is a very good tier 1 semi-target, does this sound right?

Personally I feel that a quantitative finance degree should hold more weight to a BB as the course is much more rigorous and leaves me with more skills. However, is the prestige of UVA going to overpower that? Which one do you guys here think is more valuable, QF from a non-target or a simple Econ degree from a tier 1?

I can do math in my sleep and have taken some intro programming courses so QF wouldn't be a problem for me even though i'm pursuing an analyst role at a BB; being a quant doesn't sound bad either. Let me know.

uva undergrad investmentbanking associate analyst entry level student advice bb ib goldman

Promote On:

to Thursday, March 30, 2017 - 10:55am

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What are some exit opportunities from Asset Based Lending?

March 30, 2017, 8:49 am

≫ Next: How to prepare for crazy interview questions

≪ Previous: Any of you Bankers see UVA Alumni on the street? (Seeking advice)

I've been an analyst in an ABL group at a top BB for a couple of years now.

I've had pretty solid deal experience on both the credit risk and new business sides, I've built out financial projections for M&A transactions that were partially financed using a revolver or term loan, modeled downside cases, prepared pitchbooks for new ABL opportunities, etc. About 85% of the clients I work with fall into the $500MM to $3B revenue range and the other 15% are in the IB. Typically in the Retail and Energy space.

While I've learned a lot, I don't see myself being a lifer in this kind of role. A few analysts from my bank have gone industry, moved to other banks and a handful have gone on to PE at tiny shops. What are the exit opps from what you guys have seen?

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How to prepare for crazy interview questions

March 30, 2017, 9:24 am

≫ Next: Have you ever accepted a job because it was the only offer that you had?

≪ Previous: What are some exit opportunities from Asset Based Lending?

Is there a way to prepare for ridiculous interview questions? I have an interview coming up that I know will have some of these questions. Some examples that I've heard from people who have interviewed are "what is one thing you believe that no one else does", or "tell me about a time you offended someone".

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Have you ever accepted a job because it was the only offer that you had?

March 30, 2017, 10:00 am

≫ Next: How to calculate IRR within a DCF Model

≪ Previous: How to prepare for crazy interview questions

Not to assume that most people are able to pull multiple offers in the field they want, but-

I'm heading towards a one year masters this year the plan is to start grinding from the beginning. I'm more stressed than excited since the more I try to get a general idea about the everything in finance the more specializations i find, and the harder it becomes for me to fixate on one thing.

It would be helpful to have perspective of people who didn't land an offer from their first choice right out of undergrad/masters. I feel I'm being too serious (meticulous?) about the whole thing

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How to calculate IRR within a DCF Model

March 30, 2017, 10:06 am

≫ Next: George Washington University compared to UVA? (seeking advice, again)

≪ Previous: Have you ever accepted a job because it was the only offer that you had?

I'm trying to find the IRR based on a DCF model I built for IBM. However, I keep on getting the #NUM returned. I'm hoping if anyone can see if there's anything wrong with my set up.

Item #1: EV (purchase price): $210,915,106.81
Item #2: CF 2017: $10,084,617.63
Item #3: CF 2018: $9,636,329.03
Item #4: CF 2019: $9,249,581.72
Item #5: CF 2020: $8,736,297.45
Item #6: CF 2021: $8,328,116.57

the formula I have in excel is "=XIRR(Item #1 to #6, CF 2017 to 2021).

I think I'm missing the terminal cf, but how do I find that, and how would I add it to the formula?

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