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16 pieces of unsolicited advice to incoming investment banking analysts about to hit the desk...
A thread
A thread
1/ Your performance is being evaluated from day 1.
Pay attention during training and try to make good first impressions with the people in your group.
Be professional but not robotic. Be confident but not arrogant.
Pay attention during training and try to make good first impressions with the people in your group.
Be professional but not robotic. Be confident but not arrogant.
2/ You’re going to have lots of questions when you start.
You have a free pass to ask any and all questions at the beginning, so do it!
Make sure to write down the answers so you don’t have to ask them more than once.
You have a free pass to ask any and all questions at the beginning, so do it!
Make sure to write down the answers so you don’t have to ask them more than once.
3/ Keep your inbox tidy.
Have a different folder for each deal/ project and move things out of your inbox to their respective folder as soon as you complete it.
Organization pays off when you need to quickly find something in a pinch.
Have a different folder for each deal/ project and move things out of your inbox to their respective folder as soon as you complete it.
Organization pays off when you need to quickly find something in a pinch.
4/ Don’t “spin your wheels”
There’s a fine line between trying to figure something out on your own and wasting valuable hours stuck on something for no reason.
If you can’t figure it out in ~30 minutes, ask another analyst or your associate. That’s what they’re there for.
There’s a fine line between trying to figure something out on your own and wasting valuable hours stuck on something for no reason.
If you can’t figure it out in ~30 minutes, ask another analyst or your associate. That’s what they’re there for.
5/ Be responsive.
Building a reputation for responding quickly at all hours (within reason) gives others the impression that you have a handle on the situation.
Get in the habit of sending a quick “will do” so they know you’ve seen the email and are going to get it done.
Building a reputation for responding quickly at all hours (within reason) gives others the impression that you have a handle on the situation.
Get in the habit of sending a quick “will do” so they know you’ve seen the email and are going to get it done.
6/ Have a good attitude.
No one likes working with the analyst who complains about every little piece of work handed down to them.
Having a positive attitude while cranking at 3am will go a long way with your deal team and they won’t forget it.
No one likes working with the analyst who complains about every little piece of work handed down to them.
Having a positive attitude while cranking at 3am will go a long way with your deal team and they won’t forget it.
7/ Be proactive.
Always be thinking 1 or 2 steps ahead of your MD. They’ll appreciate it when they ask for something and you already have it waiting on a silver platter.
Always be thinking 1 or 2 steps ahead of your MD. They’ll appreciate it when they ask for something and you already have it waiting on a silver platter.
8/ Don’t put off your work.
It can be tempting to put off work until the next day if there’s a longer lead time. I’d encourage you to do it now and get it off your plate. Nothing worse than putting something off and then getting blown up on other deals, compounding your misery.
It can be tempting to put off work until the next day if there’s a longer lead time. I’d encourage you to do it now and get it off your plate. Nothing worse than putting something off and then getting blown up on other deals, compounding your misery.
9/ Over-communicate.
This is especially important in a WFH setting where people can’t see the bags under your eyes and the fact that you’re still wearing yesterday’s clothes.
Let your associates know what other things you have going on to manage expectations.
This is especially important in a WFH setting where people can’t see the bags under your eyes and the fact that you’re still wearing yesterday’s clothes.
Let your associates know what other things you have going on to manage expectations.
10/ Always ask for timing expectations.
This will help you prioritize what you need to work on first and what can wait.
This will help you prioritize what you need to work on first and what can wait.
11/ Make life easier for your associates.
These are the people that are going to have the biggest say when it comes to your year end review, so go out of your way to make their job as easy as possible. It will not go unnoticed.
These are the people that are going to have the biggest say when it comes to your year end review, so go out of your way to make their job as easy as possible. It will not go unnoticed.
12/ Buy a mechanical keyboard and a decent mouse.
You’ll be spending 12-16 hours a day using them, so invest in something high quality that will make those hours slightly less miserable.
You’ll be spending 12-16 hours a day using them, so invest in something high quality that will make those hours slightly less miserable.
13/ Ask for feedback.
Whenever you wrap up a project, shoot your associate a note and ask how it went from their perspective and how you can improve.
They’ll be impressed that you’re asking and you’ll gain valuable feedback to know what you should be doing to improve.
Whenever you wrap up a project, shoot your associate a note and ask how it went from their perspective and how you can improve.
They’ll be impressed that you’re asking and you’ll gain valuable feedback to know what you should be doing to improve.
14/ Anticipate the questions your senior bankers will have.
Occasionally you’ll put something on a page that just looks off (i.e. EBITDA randomly dips one year).
First, make sure what you’re showing is correct, then look into why that happened and provide preemptive answers.
Occasionally you’ll put something on a page that just looks off (i.e. EBITDA randomly dips one year).
First, make sure what you’re showing is correct, then look into why that happened and provide preemptive answers.
15/ Don’t volunteer for work if you don’t have capacity.
It can be tempting to impress your staffer by always volunteering and being willing to help out, but this will backfire.
It’s much better to crush it on fewer projects than to do mediocre work on many.
It can be tempting to impress your staffer by always volunteering and being willing to help out, but this will backfire.
It’s much better to crush it on fewer projects than to do mediocre work on many.
16/ Maintain perspective.
The job can be all-consuming and it can feel like your entire life is in the hands of a handful of MDs who don’t know your name.
Disconnect when you can and remember that it’s not as important as it feels in the moment.
The job can be all-consuming and it can feel like your entire life is in the hands of a handful of MDs who don’t know your name.
Disconnect when you can and remember that it’s not as important as it feels in the moment.
