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FREQUENTLY ASKED QUESTIONSOver the past seven years, we have compiled a number of frequently asked questions. We have chosen the most relevant (and popular) and have published them in this section. Live training-class photo Q: What can I add to my resume (and cover letter) when I finish this training program? A: The skills that you acquire at IBI can be summarized on your resume in approximately 6 bullet points, depending on which you choose to add. Your cover letter should also be modified to include a paragraph stating that you can perform any first-year analyst or associate function. Keep in mind that all investment banking, private equity, and hedge fund interviewers will be scanning resumes for exactly those types of skills. (We individually guide every student through their resume (and cover letter) revision, interview preparation, and job search. This service can be arranged with any of our bankers or directors, is included in the tuition, and can begin as soon as your reservation is made). Q: Is this only an investment banking course? What type of jobs and careers is the IBI training applicable to? A: The IBI course is applicable to the following financial careers:
In general, any high-paying finance job will require knowledge of the skills found on our syllabus. Valuation and financial modeling are an integral part of the day to day responsibilities of any finance professional. Click for a selected list of corporations and universities from which students and professionals have joined IBI. Q: Is IBI affiliated with any other institutions?  A: The Investment Banking Institute is registered with CFA Institute as an Approved Provider of continuing education programs. This program is eligible for 24.5 CE credit hours as granted by CFA Institute. If you are a CFA Institute member, CE credit for your attendance at this event will be automatically recorded in your CE Diary. 
The Investment Banking Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasbatools.com.
The Investment Banking Institute Financial Modeling and Valuation Training Program has been accepted by the CFP Board for Continuing Education credit. 28.5 hours of CE credit have been granted by the CFP Board. CERTIFIED FINANCIAL PLANNERS will have their CE credit submitted automatically by providing their CFP Board ID number, and the last 4 digits of their Social Security number at the time of registration. Q: I am trying to enter the industry. How can this program help me? A: Since inception, IBI has focused on training 2 distinct types of individuals: professionals who are already in the industry but seeking to refresh, or fine tune their existing skills and individuals who are seeking to enter the industry. For those seeking to break into the finance industry, the Investment Banking Institute has implemented an approach which has helped numerous graduates from the program secure highly sought after jobs. Our commitment to your success goes far beyond the 8-session training (that's just the first step). Over the years, our experience has demonstrated that the most effective method of breaking into the finance industry is through a carefully crafted plan. Below you will find necessary steps for an effectively structured job search:
Q: What is the difference between Investment Banking and Private Equity? A: This question has to be answered in 2 parts; (i) from a valuation methodology perspective and (ii) from an agent vs. principal perspective. First, and most importantly, from a valuation (financial modeling) point of view, both Investment Banking and Private Equity are identical. This is due to the fact that the same traditional valuation methods are required for both practices, meaning that although the buyers (or sellers) change, their targets do not (i.e. whether an I-Bank or a PE Fund is doing the valuation on a target, the same methodologies will be used). This is why so many Private Equity professionals launch their careers at Investment Banks. In short, if you can effectively perform all the functions of an investment banker, you can transition those skills into private equity. The second part of this answer has to do with the agent vs. principal investor role taken by each respective practice. This, of course, is where investment banking and private equity differ. Simply stated, the investment banker executes transactions (does deals) on behalf of his clients, whereas the private equity practitioner will execute transactions on behalf of his Fund (I-Bankers use their clients' money and assets, PE Firms use their own). Again, the valuation side is identical but the investor side is different. Most private equity firms will require a year or two of investment banking experience before hiring a professional. They are simply stricter when handling their own money than when handling their clients' funds. Q: If I learn how to do what's on your syllabus, will I know more about valuation than an Ivy League MBA? A: Absolutely, yes. Even finance majors from the best schools will admit that they cannot build a fully integrated LBO model or a full blown Merger Model. There are simply no classes (especially small 25 person classes like ours) that will teach this particular skill. If you are able to perform these tasks efficiently, you will certainly stand out in any interview. We have trained many non-MBAs and MBAs as well, how to successfully model financial statements using a number of traditional valuation methodologies. Keep in mind that what we teach is not a class; it is a training program, the exact same training program you would be exposed to at any major financial institution in New York or anywhere else around the world. In short, our syllabus answers the question: "What do I need to know to be an effective analyst or associate at any I-bank or PE Firm?" Q: Once I complete the training program, what materials will I get to keep? A: Our deliverables are a very integral part of our program. We designed this 4 week course to teach you how to become an effective analyst or associate; part of that training includes giving you a detailed reference library which you can use throughout your investment career. Once you finish the course, you will have all the slides (over 500 pages), all the Excel based financial models and any other handouts offered in each session. They will be in both hard copy and electronic format. This is an invaluable tool, as you will be able to use the Excel templates and reference materials at any firm where you become an analyst or associate. Q: I have just been offered a job in investment banking (or private equity) and the firm has a training program once I start. Would I still need to take your training program? A: Intuitively it would seem that it no longer makes sense to take our training, since you have already been hired and will also be trained. However, there are 2 more factors to consider which are not so obvious (unless you have worked in banking for years and understand their process). The first factor is gaining a lead over the other trainees, as the training period in the bank will be very competitive and decisive to your future at the bank. Being able to perform better than your peers, (by already knowing the material) during the training will qualify you to (i) be chosen by a higher quality group, i.e. leveraged finance versus the generalist group (ii) start working on live deals, rather than pitch books (live deals go on your resume, pitch books do not). The second factor is training method. When you are trained at a bank, many times the training will be led by second year analysts and associates, who not only see you as their future competition, but are also very busy working on their own transactions. The training is very good; however, there is a palpable sink or swim atmosphere to contend with, as the analysts in charge of the training simply do not have the time to answer all your questions. Being trained before starting at a bank or private equity firm will immediately put you at the head of your training program once you are inside. Q: How will this course help me in an interview? A: To reiterate, this is a comprehensive investment banking training program. The skills taught by IBI are exactly what you need as your foundation when joining an I-bank (bulge bracket or boutique), private equity, or hedge fund. You can expect AT LEAST 85% of the technical questions you are asked in an interview to be taken directly from the material you learned at IBI. IBI will also show you what to expect from the rest of the interview, and help you prepare for it. The IBI team is composed of accomplished investment bankers who have spent significant time hiring and training Analysts and Associates, they know from experience what you will learn over time. If you are looking for the inside edge, this is it. |
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