Published: Jul 05, 2020
Below is an account of an 18-hour period in the life of an investment banking summer analyst; she works as a corporate finance generalist for Houlihan Lokey in New York.
7:30 AM: Wake up to the repetitive beeping of my alarm; immediately check my phone. There are a few emails I was cc’d on, nothing urgent, so I brush my teeth and take a shower. After a quick breakfast, I head out the door of my small studio to catch the downtown 6 train.
8:15 AM: I feel like a sardine; the train is packed with bankers and tourists. You can easily distinguish between the two: half of the passengers are stressed and tense, while the other half are carrying cameras and maps. I get out at 51st Street.
9:00 AM: Arrive at my desk; have my first cup of coffee. Begin research (using Bloomberg and Capital IQ) for a project an MD and I are working on It’s rare for a summer analyst to get this type of interaction with senior bankers; it’s one of the things I appreciate most about working here.
11:00 AM: Receive an email from the MD who wants to discuss my research. We meet in his office a few minutes later. The meeting goes well. He’s happy with the report I put together.
12:30 PM: A few analysts and I grab a quick lunch at a bistro across the street. I eat my salad at my desk while creating revenue breakdown charts by geography and product segment for a management presentation happening later this month in Canada.
3:30 PM: Another MD invites me to join a client meeting, which is starting in less than an hour. I gladly accept the invitation, then start flipping through the presentation books two at a time to ensure accuracy (I‘m on cloud nine to have been offered this opportunity during the first week of my internship).
4:00 PM: Leave the office with my deal team to the client meeting, which is just a few blocks away. There are five people present at the meeting. I note that the client questions every financial value and multiple in the book, trying to get a better sense of how the valuation was performed. The meeting goes well. It was a great learning experience.
6:00 PM: Back in the office just in time to order dinner from Seamless. A group of us order salmon—a favorite in the office. After I eat, I spend a few hours turning around the edits on the management presentation I was working on earlier (the client’s CEO sent the edits).
9:00 PM: Start compiling a financial buyers list for another pitch I’m helping with. Capital IQ and Thomson are good sources of information. I look for similar transactions and for buyers interested in investing in the client’s industry.
11:00 PM: Finish the buyers list. Spend some time double-checking my work, then hand it off to the analyst on my team. The analyst seems satisfied with what I've done.
12:00 PM: Familiarize myself with an accretion/dilution Excel model for another project I’m working on.
12:30 PM: Ask the rest of the group if I can help with anything else. An associate says he needs a transaction list in the industrials group.
1:30 PM: Finish compiling a list of over 15 transactions using Capital IQ’s screening tools, then email it to the associate and turn off my computer. Leave the office and get in a cab. I’m tired, but happy with how my day went and with the experiences that I had.
Today, we release our annual Accounting 50, a ranking of the best accounting firms to work for. This year, the rankings are based on a survey of more than 10,000 accounting professionals, who were asked to rate their own firms in various workplace categories such as culture, compensation, hours, and work/life balance.
Going to law school isn’t—or at least shouldn’t be—something you decide to do suddenly or aimlessly. Such a commitment of time, money, and effort should be taken on only after much deliberation and preparation, especially since your career and your future are at issue.
Fintech is one of the fastest-growing and competitive industries at the moment, which of course means there’s a whole lot of work to be done. Those who are interested in a career in fintech will have a variety of options to choose from, and will enjoy the excitement of a rapidly growing industry.