Realistically, what level of technicals and news do I need to know? When exactly should I start networking/finding internships from a semitarget?
Ik my questions sounds cliche and repetitive, but hear me out:
Half the people here are like "the BIWS 400 by themselves are good enough, while the advanced questions will lock it in stone..."
Whereas the other half are like "if you don't know Pearl-Rosenbaum cover to cover, haven't won the Excel Financial Modeling World Cup, and wrote a thesis on every WSJ article from 1950, even if you go to Harvard, you won't even land a regional boutique search fund internship..."
Who is correct? Do the $200 paid WSO IB guide or BIWS IB guide cover it ALL? Is it a good idea to start buying/studying 1st semester of college? How many weeks will it take? Most importantly, WHAT LEVEL OF MODELING IS NEEDED? Some people say "you don't need Excel for a lil SA position" and the other say the above. Also, how much news do I actually need to read, and should I read news for every single coverage group I apply to?
And as for internships, I'm getting conflicting advice again: BIWS is saying "if you don't have a boutique cold email internship locked in by freshman spring, you will never see light of day" whereas the people here are like "bro chillax relax your freshman year j party and wait till soph spring before mentioning the alphabets I and B..." any clarity here?
I'm getting so much conflicting advice it's racking my brain lol
Additionally, is it a bad idea to start networking from the beginning of freshman spring? My uni does things where that if you don't get into the ultra-difficult clubs, alums won't even talk to you if you're drowning, so imma have to start super early. The only thing I'm worried about is that if I get all these calls in early and during freshman summer, they might forget about me by the time recruiting begins a full year later... any advice on keeping those contacts alive?
Thanks a lot!
You’ve been introduced to confirmation bias
If what people did worked for them, they will suggest everyone does it.
If what people did, didn’t work for them, you will probably not hear from them or they will suggest a different approach.
You can get a job with knowing only the basic BIWS questions. However, the more you know, the higher the probability of success in recruiting, and the higher probability of success on the job.
Let’s resolve the confusion. If you understand the 400 questions, you probably do understand Rosenbaum & Pearl in some sense. You should still read it as it will enrich your life as someone in the finance profession, but understanding the 400 is understanding the book.
On modeling stuff, there’s great courses on that on this website, there’s BIWS or Wall St. Prep. A lot of boutiques don’t even test modeling with a modeling test, so that can’t possibly be a prerequisite. Perhaps a technical understanding of Excel shortcuts, sure.
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