Strats
Who are Strats? Strats refer to mathematicians, statisticians, computer scientists, and engineers who work in the financial services industry. In particular, strats are used to describe the mathematicians, statisticians, software developers, and engineers who work at investment banks in a front office role. The first strats team was set up within the strategies team at...
Investment Banking Manual
Investment Banking Manual Covering accounting fundamentals, valuation, financial modeling, & Excel skills, this 400+ page guide to investment banking is a must-have for new analysts & associates. Welcome to the official investment banking eBook from the Corporate Finance Institute. In this 466-page analyst manual, we walk through all the important skills and the body of...
Investment Banking Cover Letter
Does an investment banking cover letter matter? At most investment banks, cover letters that accompany resumes are barely read, if read at all. Applications are typically screened according to your resume, with school and GPA as the first filter. If you went to a “name” school and have a strong GPA, then your resume and...
Investment Banking Resume
How to Tailor Your Investment Banking Resume? The investment banking resume is unique. It’s important to tailor your resume to the industry standard to avoid being immediately deleted just because it doesn’t comply with the standard format. Here are some critical points to be aware of: Your investment banking resume must be only one page...
Investment Banking Advisory Career Profile
What is Investment Banking M&A Advisory? The investment banking division (IBD) of an investment bank helps governments, corporations, and institutions raise capital and complete mergers and acquisitions (M&A). An investment banking career is extremely demanding with analysts frequently working 100-hour weeks. The competition for positions is intense, compensation is very high, and the work is very high-profile. The...
Equity Research vs Investment Banking
Equity Research vs Investment Banking When looking at a career in the capital markets, it’s important to understand if you’re a better fit for investment banking or equity research. Both offer excellent work experience and great pay. Choosing one over the other really comes down to personality more than anything else. This guide will break...
Investment Banking Overview
What is Investment Banking? Investment banking is the division of a bank or financial institution that serves governments, corporations, and institutions by providing underwriting (capital raising) and mergers and acquisitions (M&A) advisory services. Investment banks act as intermediaries between investors (who have money to invest) and corporations (who require capital to grow and run their...
Lock-up Agreement
What is a Lock-Up Agreement? A lock-up agreement refers to a legally binding contract made between the insiders and underwriters of a company during its initial public offering (IPO) that prohibits them from selling any of their shares for a set period of time. These individuals may include venture capitalists, company directors, managers, executives, employees, and...
Lock-up Period
What is the Lock-up Period? A lock-up period, also called a locked-up, lock-in, or lock-out period, refers to the predetermined time frame in which corporate insiders, investors, and employees are not allowed to sell or redeem their shares after an initial public offering (IPO). It normally happens in instances where a private entity offers its...
Debt Free Cash Free Valuation
What is the Debt Free Cash Free Valuation Method? Debt Free Cash Free (DFCF) Valuation method values a business under the assumption that the business has no debt (debt free) and no excess cash (cash free). In some sense, the debt free cash free valuation method ignores the target company’s financial components (debt and cash...
