1. Investment Banking Bootcamp: Week 1 – IB Breakdown
Fall 2019
Seb Soltysik and Ryan Cremer

2. Agenda I. Groups & Locations II. Freshmen/Classes
III. Recruiting Timeline
IV. Sophomore Internships
V. Resources Available
VI. Next Steps

3. I. IB Groups & Locations

4. Product vs. Industry Groups
• Industrials
• Aerospace & Defense
• Consumer Retail
• Technology, Media, and Telecom
• Financial Sponsors
• Gaming & Lodging
• Real Estate
• Healthcare
• Financial Institutions
Product Groups
• Mergers & Acquisitions
• Leveraged Finance
• Equity Capital Markets
• Debt Capital Markets
• Restructuring
Typically, a bulge bracket will have all of these.
While a boutique will probably have the industry groups, but not the product groups. They won’t have the balance sheet to do equity and debt financings. Typically most boutiques will focus on a specific product. So most focus on M&A advisory, so the M&A Product group will be within each coverage group
Houlihan Lokey focuses on Restructuring
It is imperative to do networking especially at bulge brackets because the experience you could get varies significantly between groups
Some groups may only do pitching and powerpoint and they may outsource the actual modeling to M&A or Lev Fin
Unless you already know what industry you want to be in and you have a great reason to be in that industry, don’t pigeonhole yourself. Remember your objective is to get your foot in the door. You are entering a highly selective process.

5. Locations New York San Francisco Los Angeles Chicago Houston
Everything
San Francisco
Technology & Healthcare
Los Angeles
Aerospace & Defence, Media/Entertainment, Real Estate
Chicago
Industrials
Houston
Oil & Gas
Michael

6. II. Freshmen/Classes

7. Classes Recommended Freshmen • BUAD 280: Financial Accounting
• Finance Prerequisites (351,352,310,281)
Sophomores
• BUAD 306: Business Finance
• FBE 421: Financial Analysis & Valuation
Key Takeaway!
• Classes won’t necessarily help you in Interviews

8. Freshmen Tips • Focus on grades; Your GPA Does Matter
• Join 1-2 organizations outside of Marshall
• Start putting together your resume
• Go to as many Networking events for practice
• Build Network with sophomores/juniors
• Attend TIS Events, Apply for Leaders
• Summer Internships (does not have to be finance related)

9. III. Recruiting Timeline (Sophomores)

10. Summer 2021 Analyst Recruiting Timeline
(Based off of Summer 2020 Analyst Recruiting Timeline – will vary by firm & location)
Late January – March
Fall 2019
April
May - June
Participate in TIS IB Bootcamp & other events
Practice networking at info sessions
Build relationships with upperclassmen
Learn foundations of technical guides
Achieve/maintain high GPA (3.7+)
Optional: secure spring finance internship
Recruiting officially begins!!
Create spreadsheet of banks and contacts
Cold s and info calls
Mock interviews
TIS Mentorship and NY/SF treks
Apply to diversity programs
TIS bank info sessions at USC
Attend diversity programs
(All locations) – diversity superdays
Some LA/SF superdays
=> first wave of offers
LA/SF superdays continue and wrap up by end of June
NY non-core, non-diversity interviews begin late May/early June. Wrap up by August.
Xiao Liu

11. Steps in the Recruiting Process
Pre-Interviews
Select banks that you are interested in
Key decisions include location, size of bank (EB/BB), and industry/product groups
Prepare for interviews: technical and behavioral
Know your technicals: Accounting, Enterprise / Equity Value, Valuation Methodologies, M&A, LBOs
Stand out in your behaviorals: “why IB/story” is crucial
Once you get closer to interviews, mock interviews will help for final preparation
Form connections with bankers
Reach out to any warm leads you already have at the bank
Cold any USC alums
Cold any one at the bank who seems to have something in common with you
During Interviews
First round interviews can happen in person, over a video service, or over the phone
First rounds are usually conducted with 1–2 interviewers
They include behavioral and technical questions
“Superdays” are done in person, multi-hour interviews offered only to candidates bank is seriously considering; multiple interviewers, including senior bankers
Bharath

12. IV. Sophomore Internships

13. Prior Finance Experience: Your Sophomore Internship Matters
99% of the time, you need some type of finance experience (IB, PE, VC, S&T, Real Estate, Accounting) or business experience (business / corporate development, corporate strategy) prior to or during recruiting season
Why?
Legitimizes and qualifies you as a candidate
Your “story” needs to include tangible professional experience that shows why you want to pursue investment banking
Helps you understand your strengths, weaknesses and most of all whether or not you actually want to pursue a career in finance
Should you do a fall/spring finance internship?
The answer: it depends
So does my sophomore summer internship even matter?
The answer: Yes
“Incoming summer analyst at [regional boutique]” on resume also legitimizes you as a candidate
Gain Excel and PowerPoint skills that will help you stand out in your junior internship
Xiao

14. Sophomore Internship Opportunities
Investment Banking Positions
LA: FocalPoint, CriticalPoint, Park Lane, Siemer & Associates, Salem Partners, Cappello Group, CREO Capital Advisors, Telos Advisors, Ocean Park Advisors, Roth Capital, Reynolds Advisory Partners, Architect, B Riley, Solganick and Co, Hammond Hanlon Camp, Harbor Ridge Capital, Harvey and Company, 41 North Partners, Kinected Consulting, Objective Capital Partners, Armory Securities, Echelon Partners, Provident Healthcare Partners, Arrowroot Advisors
SF / Bay Area: Vista Point Advisors, Woodside, MergerTech, Khosla Ventures, Martin Wolf, Momentum Partners
Buy-Side
USC Investment Office, OpenGate, JUMP Investors, Carrick Capital Partners (SF), Revolution Capital Group, Arrowroot Capital, TPG
Corporate:
Disney, Salesforce, SpaceX, Snapchat, The Honest Company, Northrop Grumman
Other
Big 4
Diversity based internships
Bulge bracket banks
Michael

15. How to Land a Spring Sophomore Internship
No prior finance experience is necessary for local boutiques!
**Most regional boutique firms will not release an official application, so you must get an interview through networking
LinkedIn search any firms you are interested in
Find USC alumni, if any at those firms, and reach out to them
USC alumni and current upperclassmen will be your best points of contacts
If there are no alumni, cold- analyst at the firm
Interview process (late October-early January):
First round phone screen (behavioral & technical)
Informal “superday” (behavioral & technical)

16. V. Resources Available

17. Resources Available Technical/Behavioral Preparation
Technicals – M&I Guides, IB by Rosenbaum and Pearl
Economy/Business Newsletters – Morning Brew (free), WSJ, NYTimes (free at USC), The Economist
General knowledge
Industry Newsletters: **SUPER IMPORTANT, START EARLY
Technology (Emerging Tech Brew, LaunchTicker)
Healthcare: STAT, Endpoints, Fierce Healthcare
Peer Career Advisors - IB specific ones that has office hours every week
USC Classes -- FBE Business Valuation with Plotts
IB Knowledge / Behavioral Prep – Mergers and Inquisitions
Mock Interviews
TIS
Professional mentors
Upperclassman
add tis nEWSLETTER
TALK ABOUT NEWSLETTERS (LAUNCHTICKER, MORNING BREW, HEALTHCARE ONES, ETC)

18. VI. Your Next Steps

19. Next Steps: What YOU Need To Do
1. Continue attending TIS Investment Banking Bootcamp
Future topics include: Technical Prep – Accounting, Valuation, M&A, LBOs, Modeling
2. Attend an info session and practice networking with professionals
TIS/PCA session on 9.25 about what is Banking, check your s for details
3. Prepare Resume, use upperclassmen for help
4. Begin looking over M&I guides (start with accounting and DCF) and do your own research (avoid Wall Street Oasis)
5. Apply for TIS E-Board towards the end of the semester
What NOT to do:
Stress out – you have lots of time and we are here to help!! ☺

20. Q&A