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- First Step to Final Offer (08/13/24)
First Step to Final Offer (08/13/24)
Your weekly round-up of an M&A deal walkthrough, insightful market news summaries, technical quiz questions, and various internships, events, and diversity programs. A key resource to best prepare yourself for finance recruiting. If someone sent you the newsletter subscribe below!
RECRUITU EXCLUSIVE CLASS OF 2027
Raymond James’ application for their Banking Insights program in NYC is LIVE. The program includes three virtual learning sessions focused on educating top sophomore business students on how our analysts and associates help corporations raise capital, issue shares of stock in an IPO, provide financial consulting services, and negotiate a merger or acquisition.
CAREER OPPORTUNITIES
Class of 2027 Jobs & Events
Goldman Sachs Possibilities Summits Link here
Deloitte Consulting Discovery Sophomore Intern Summer 2025 Link here
Deloitte Discovery Sophomore Intern Risk & Financial Advisory (Government & Public Services) - Summer 2025 Link here
Deloitte Discovery Intern (Sophomore) Consulting (Government & Public Services) - Summer 2025 Link here
RBC Capital Markets U.S. Pathways Diversity Award Program Link Here
RBC Capital Markets U.S. Women’s Advisory Program Link Here
RBC Capital Markets LGBTQ+ Sophomore Insights Program Link Here
Bain & Company Event Series Link Here
Deloitte Events Link Here
Goldman Sachs Emerging Leaders Series - Link Here
Morgan Stanley Summer 2025 Applications - Link Here
Class of 2026
Summer 2025 Applications
Susquehanna International Group, LLP (SIG) Quantitative Trader Internship: Summer 2025 [NEW] Link here
Bracebridge Capital 2025 Summer Investment Analyst [NEW] Link here
Blackstone 2025 Real Estate Finance Summer Analyst [NEW] Link here
BNY 2025 Summer Internship Program - Market and Wealth Services (Lake Mary, FL) [NEW] Link here
Deutsche Bank Internship Program Investment Bank: Commercial Real Estate - New York - 2025 [NEW] Link here
MUFG 2025 Corporate, Investment Banking and Markets (CIBM) Summer Analyst Program - Link here
Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - New York 2025 - Link here
Deutsche Bank Internship Program - Investment Bank: Origination and Advisory Capital Markets - New York 2025 - Link here
Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - Jacksonville 2025 - Link here
Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - San Francisco 2025 - Link here
Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - Boston 2025 - Link here
Deutsche Bank Internship Program - Investment Bank: Origination and Advisory - Chicago 2025 - Link here
Lazard 2025 Institutional Client Group Summer Internship - Link Here
RBC Capital Markets 2025, Municipal Finance Summer Analyst - Link Here
Baird, Equity Research Analyst Summer 2025 - Link Here
BCG Associate Internship - Link Here
Bain & Company Associate Consultant Intern - Link Here
Santander Summer 2025 Analyst Role - Link Here
Morgan Stanley 2025 Investment Management Summer Analyst - Fixed Income - Link Here
Nomura Summer 2025 Analyst Roles - Link Here
Citadel Securities Trading Fundamental Analyst - Link Here
Loop Capital Summer 2025 Analyst Positions - Link Here
Stifel Financial Corp Summer 2025 Analyst Roles - Link Here
Citi Summer Summer 2025 Analyst Roles - Link Here
StepStone Group Summer 2025 PE Analyst - Link Here
Guggenheim Summer 2025 Applications - Link Here
Oppenheimer Summer 2025 Applications - Link Here
Abdiel Capital Summer 2025 Application - Link Here
Solomon Partners Summer 2025 Applications - Link Here
Long Ridge Summer 2025 Application - Link Here
D.E. Shaw Summer 2025 Application - Link Here
Bank of America Summer 2025 Applications - Link Here
Point72 Summer 2025 Application- Link Here
JMI Equity Summer 2025 Application - Link Here
J.P. Morgan Summer 2025 Application- Link Here
MARKET NEWS
Automation Tools Are Changing the Landscape of Private Equity and Investment Banking
Advances in automation tools are transforming the way private equity and investment banking firms operate, significantly reducing the time needed for deal analysis. Blackstone, for example, uses its BX Atlas tool to get near-instantaneous insights into potential deals, reducing the manual burden on junior employees. Similarly, startups like Mosaic, founded by a former private equity investor, are providing LBO modeling software that produces fast, defect-free investment returns. These tools are shifting the skillset needed for success in the industry, with a growing emphasis on critical thinking and problem-solving over traditional technical skills like Excel modeling. As automation continues to evolve, the roles and responsibilities in the finance industry may see significant changes.
(Source: Financial Times)
Volatility Pros Say Record VIX Surge on Monday Was a ‘Head Fake’
On Monday, the VIX Index, commonly known as Wall Street’s fear gauge, experienced an unprecedented surge, which experts are now calling a “head fake.” The spike in volatility was not sustained, and market professionals suggest it was driven by technical factors rather than a fundamental shift in market sentiment. This sudden move led to increased caution among traders, but many believe the underlying market conditions remain relatively stable, indicating that the volatility spike may have been an anomaly rather than the start of a more significant market downturn.
(Source: Bloomberg)
Wall Street Investment Banking Bonuses May Rise Up to 35%, Compensation Specialist Says
According to compensation specialists, investment banking bonuses on Wall Street are expected to increase by as much as 35% this year. This potential rise is attributed to stronger deal activity in the latter half of the year, particularly in mergers and acquisitions (M&A) and better-than-expected revenue growth. After a challenging start to 2024, the sector is seeing signs of recovery, which could result in higher payouts for bankers. However, the final bonus figures will depend on the actual deal flow and market conditions in the coming months.
(Source: Reuters)
M&A DEAL OVERVIEW
Francisco Partners Sells QGenda to Hearst
Francisco Partners has announced the sale of QGenda, a leading provider of healthcare workforce management software, to Hearst. QGenda, which has been under Francisco Partners' ownership since 2016, specializes in scheduling, time tracking, and credentialing solutions for healthcare providers. The acquisition by Hearst, a global media, information, and services company, is part of its ongoing expansion into the healthcare sector. The financial terms of the deal were not disclosed, but the transaction marks a significant move for Hearst as it continues to build its portfolio of healthcare technology companies.
(Source: Business Wire)
TECHNICAL QUESTION OF THE WEEK:
What would you use to evaluate a startup? |