Careers with a lot of Financial Modeling Besides I-Banking?
Basically the title. I've been doing case studies in my classes and I've decided that I really enjoy DCF/Financial modeling but I hate my marketing, accounting, etc. case studies. I guess that I really enjoy the numbers aspect of doing DCFs/Financial modeling, so is there any other career in the finance world that is modeling/numbers heavy besides banking? Do consultants also get a lot of modeling done, or do they do more qualitative work?
The reason I ask is because although I think I'd enjoy banking, if this is usually what they do, I'm not sure I can get in, at least right away, because I'm from a non-target, so I want to look at other options that can eventually get me into the corporate development/i-banking roles I desire in the future.
Thanks
Comments (18)
without accounting, you'll never learn modelling. If you enjoy pure excel, then learn some programming and you can join the "analytics team" of companies where you'll have to make sense of a large amount of data, and can use excel / make macros
I'm not saying I can't do accounting, its just that I hate it. I am decent enough at it and can understand it just fine, I just hate preparing financials and doing adjusting entries all day.
Im not sure anyone truly "likes" accounting.
Side note: you definitely should have made your name Anal_Lyst
There's a lot of different kind of modeling - if you are looking at DCF type modeling, then banking, corp dev, P/E, VC - both boutiques and BBs/Big companies
Modeling in general and enjoy excel, you can go with sales and trading, consulting, hell even operations, especially corporate/F500 company, has some modeling - budgeting and forecasting-type of work, for example.
Also, don't assume you will make the jump from one field to IB - instead, if you want IB, push for IB - boutique, MM, BB - coming from a non-target you've still got a good shot - high GPA, relevant major, club involvement, networking and some solid internships will definitely give you some opportunity.
Sorry, I want to clarify something: are you saying that F500 companies have financial modelling or just general excel work (yes, I know modelling is done on excel spreadsheets)?
Other obvious choice is valuations jobs. They do a lot of DCFs for various things. And also transfer pricing is doin g a lot of financial modelling for business retructurings which is very common these days,
And by the way, to do the DCF modelling you really need some sort of understanding of accounting.
Where can I find "valuations" jobs? Is that used in consulting or what?
Again, see what I just wrote regarding accounting. I really fail to understand how me saying that I hate doing accounting somehow means that I don't understand it. I'm taking intermediate financial and will take intermediate cost accounting all while self-studying the intermediate sequence that I don't formally take myself. This is more than what most prospective bankers take, so can we please chill with the "zOMG you need to understand accounting to do models"?
^lol why? I was thinking about ANALyst, but then I thought people would think that I'm gay or something, not that there's anything wrong with that.
Somefing lyke dis?
http://www.ey.com/EM/en/Careers/Students/Working-at-Ernst---Young/Trans…
Correct me if I'm wrong, but doesn't WSO consider E&Y to be a shitty company?
[quote=Anonymous1]Somefing lyke dis?
http://www.ey.com/EM/en/Careers/Students/Working-at-Ernst---Young/Trans…]
Duff and Phelps also recruits for valuation positions.
consulting has modeling too, sometimes DCFs etc
i always thought it was more strategy than numbers focused?
Corporate Development at any big company in industry will have a lot of financial modeling. I worked in Strategic Development at a Transportation company for a summer and experienced financial forecast models, DCFs, Accretion/Dilution etc. Super interesting job and without a doubt the type of thing I want to do if I ever leave IBD.
Usually these companies look for ex-bankers for these roles, but some companies might have entry-level positions. Give it a look.
You should look into economic litigation consulting. Charles River Assoc, Cornerstone, Analysis Group etc. A lot of valuation work and damages modeling. Pretty quant as consulting jobs go.
Look at Houlihan Lokey's Financial ADvisory Services (FAS) group. Prob the best on the street. I believe Lazard has a FAS group (talked to an alum who transitioned to PE from there). Duff and Phelps has a FAS group as well. Your not going to get the traditional financial / valuation modeling at a big 4 firm like E&Y.
I thought some of the Big 4 TAS groups are fairly legit? For example, I know that Ernst and Young has a valuations group, but do they mostly do accounting instead of finance stuff even there?
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