Mergers and Inquisitions

DECEMBER 20, 2023

To accomplish that, I recommend the following timeline: How to Get an Investment Banking Internship , Step 1: Your First Year in University You don’t necessarily need to pick your major at this stage, but I would recommend finance/accounting or something that will be useful for a wide range of jobs. Internships at regional boutique banks.

Investment Banking 105

Investment Banking Bank Banking Investment 105

Mergers and Inquisitions

MARCH 13, 2024

Financial Modeling: Like private equity, 3-statement models are common, as are valuations and DCF models , but LBO models are less common since not all deals use debt. Like venture capital, cap tables, liquidation preferences , and primary vs. secondary purchases come up frequently (plus, SaaS metrics , SaaS accounting , and so on).

Private Equity 105

Private Equity Equities Capital Portfolio 105

Mergers and Inquisitions

MAY 14, 2025

DCF: Deducts the full Interest Expense and deducts only Maintenance CapEx. They also serve different purposes; CFADS is used for debt sizing and sculpting , while FFO and DCF are more useful for determining Dividends in the period. Among the elite boutiques , Evercore, Lazard, Rothschild, and Guggenheim advise on many deals.

Investment Banking 59

Investment Banking Bank Banking Investment 59

Mergers and Inquisitions

APRIL 19, 2023

Valuation , such as the different multiples used for mining companies and the NAV model in place of the DCF (see below). To value it, we build a standard DCF based on production volumes, CapEx to drive capacity, and assumed steel prices: The valuation multiples are also standard (TEV / Revenue, TEV / EBITDA, and P / E).

Investment Banking 52

Investment Banking Bank Banking Investment 52

Mergers and Inquisitions

JANUARY 22, 2025

Equity research recruiting tends to be less structured, though the bulge bracket banks and elite boutiques still run traditional processes that start over a year before summer internships. Also, interviewers could go into more depth on accounting and valuation and ask about nuances that many bankers skip or dont fully understand (e.g.,

Investment Banking 64

Investment Banking Equities Bank Banking 64