Wall Street Prep

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maaagian

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Just by looking at my resume, its clear that I’m lacking investment banking modeling experience (not counting Intex and basic DCF models for security price testing). Does anyone know how much value a “Wall Street Prep Certification In Financial & Valuation Modeling” would add to a resume?
I did some research and at least from a knowledge perspective the program seems pretty good.
 
I doubt the certification is worth anything at all. However, most firm will use one of two training programs and Wall Street Prep happens to be one that doesn’t require a classroom teacher. I used wall street prep and did the valuation models on my own, and was able to land a job a couple years back. The firm I was interviewing with used WSP to train their analysts….so its something you can talk about during interviews, say you are familiar with DCF, comps e.t.c., but thats about it. They will train you anyways.
Why are you getting the CFA if you want to be an investment banker?
 
I always wanted to be a Portfolio manager as I love the stock market. However, after I completed Level2 I got really interested in investment banking and mainly the Private Equity sector (not to sound too romantic but I like the whole idea of venture capital, providing capital to small businesses with promising ideas).
I’m still very attracted to the markets and follow it rigorously. I’m currently looking for positions within this area as well as the Private Equity market is not exactly blooming right now…. But eventually, thats what I want to do. Therefore, I’m looking to improve my resume and prepare for such role. Hence the wall street prep course.
Also, no matter where I end up, I have now completed all levels and believe I have learned A LOT! And whatever position, I believe the CFA charter earns respect within the banking and investment community.
So in other words, the Wall Street Prep course would add value as its recognized by the banks and the material is well laid out as well?
Thanks for the info
 
I would say WSP is defenitely worth it if you don’t have prior modelling experience.
I am from IT and it’s super duper uselful for me to learn Excel/VBA and implement some of the models learnt as theory in CFA-L2. Defenitely worth it if you see the excels in action and can do a LBO modelling from scratch.
If you decide to order it, here’s my Referral Code: REF12623. Which gives both of us $75 worth benefits.
 
I went the investment banking route out of college too. It is a good stepping stone to get into investment management. The CFA isn’t the most relevant thing in the IB world, but it certainly helped me in my interviews. The prep course will show dedication, but it won’t add a ton to your resume because they will put you into a training program before you start anyway. There might be better things out there for your time.
I’m guessing you’re not applying out of college though if you have already completed L2. If you’re already working in a different field, the CFA probably won’t do much to help you break in. You probably should go to B school and enter as an associate, and at that point you might as well just try to go straight to PE.
If you are serious about VC, they will care as much if not more about having a scientific or entrepreneurial background than a financial one. The VC idea of a financial model is not the same as a buyout firm that uses 17 tranches of debt. The CFA probably will not be a ton of use to you there, unless maybe you’re going into investor relations for a big firm or maybe a shop that focuses on larger, later stage deals.
But hey, it certainly can’t hurt. It’s all in the eyes of the guy who interviews you on that particular day. IB is a weird animal.
 
“The prep course will show dedication, but it won’t add a ton to your resume because they will put you into a training program before you start anyway. There might be better things out there for your time.”
Cosign - have never taken the class, but can’t imagine they teach you more than you learn in the first couple of weeks in an analyst training program at any reputable bank.
 
If you want VC, get a bachelors/masters in a hard science or engineering from a school with a top technology program (eg. MIT, Berkeley), then get an MBA from Stanford. That should do it.
Another option includes working at a neighborhood bank, providing loans to small businesses with promising ideas.
 
I know, that would have been a great path. Had a considered VC and PE in general a lot earlier…
But yes, business school is the best way to go I guess. I’m going to apply for some positions this year though, then if nothing happens, I apply for MBA program next year (already have a MS though).
So banks at least have knowledge of the Wall Street prep course and its just not some stupid online thing, thats good. I might take a shot at it
Spending some cash again… 3 levels of CFA, this, and then maybe business school. Sh&t, the amount of money spent starts to pile up…
 
If you have an MS (I’m assuming finance?) and a CFA, I don’t see why you should have to go back to school unless getting into IB or PE immediately is really that important to you. There must be some kind of portfolio management job you could get.
 
True and that’s my thought too. However, this post was more so about the content and credibility of the Wall Street Prep material and the added value of completing their certification in modeling and valuation. The consensus seems to be that the certification itself does not add a lot of value to an resume but could help out during an interview and that the Wall Street Prep material is highly regarded by Wall Street as the firms use the material themselves in their training programs, is this a valid statement?
I certainly appreciate all responses and guidance relating my choice of career though, thanks everybody
 
I don’t think it’s a valid statement, then we can just go to wall street prep and get a job on wall street. Sorry no top MBA or connections, no wall street for you. I know there can be exceptions to any rule, but Ibanking is more about who you know not what you know.
 
Wall street prep is not highly regarded, it’s just a useful tool for training. You’re best bet is to do Wall Street Prep, and then prep std. banking interview questions - which valuations produce highest and lowest values, what are the different valuation methods, be able to talk about an industry you might have some valuable knowledge about e.t.c. At the end of the day there are 100 other people who want to do what you want to do, so you need to figure out how to market your skill set.
I went from Electrical Engineering to private equity and then went back to b school. While i was working as an electrical engineer, with my infinite free time i took evening classes in macro econ, FSA, corp. fin e.t.c. and passed the CFA Level I exam. Then i did wall street prep. Then i interviewed for places (equity research, PE, M&A shop). For the interviews I landed, I could talk about working towards finance and making the transition.
If you already are in finance, but in some role that is middle office or something back office, then its probably going to be hard to find your desired job right now. I don’t mean to crap on the middle and back office, if i did, sorry.
 
I have a MS in engineering and an MBA with concentration in Finance (2007) and over 6yrs engineering experience. I developed an interest in Finance (IB) b’cos analytical skill involved. Does anyone know whether or not taking the Wall Street Prep course will help me get an Investment Banking job?
skillionaire Wrote:
——————————————————-
> “The prep course will show dedication, but it
> won’t add a ton to your resume because they will
> put you into a training program before you start
> anyway. There might be better things out there for
> your time.”
>
> Cosign - have never taken the class, but can’t
> imagine they teach you more than you learn in the
> first couple of weeks in an analyst training
> program at any reputable bank.
 
“I developed an interest in Finance (IB) b’cos analytical skill involved” - Is this the only reason?
spaceball Wrote:
——————————————————-
> I have a MS in engineering and an MBA with
> concentration in Finance (2007) and over 6yrs
> engineering experience. I developed an interest in
> Finance (IB) b’cos analytical skill involved. Does
> anyone know whether or not taking the Wall Street
> Prep course will help me get an Investment Banking
> job?
>
>
>
> skillionaire Wrote:
> ————————————————–
> —–
> > “The prep course will show dedication, but it
> > won’t add a ton to your resume because they
> will
> > put you into a training program before you
> start
> > anyway. There might be better things out there
> for
> > your time.”
> >
> > Cosign - have never taken the class, but can’t
> > imagine they teach you more than you learn in
> the
> > first couple of weeks in an analyst training
> > program at any reputable bank.
 
I have a few editions of Wall Street Prep and I took a two-day WSP course back in August of 2008. They are alright, but I wouldn’t necessarily say WSP’s models help in making sound investment decisions as much as they do in training you to format models properly so that they easier for someone (read: your boss) to follow; WSP emphasizes documenting all assumptions and not “hard coding” any formulas in. However, after continuing through their oil and gas modeling program, I have found that the models are lackluster compared to what my friends are doing at banks and research firms. Still though, if you are new to modeling, the program is a good introduction how not to suck right off the bat.
 
Also, WSP probably won’t help with finding an investment banking job directly, but I am sure that you could show prospective employers you’re interested by doing the program. Then again, you already have an MBA in finance. What industry do you work in? Maybe you’re competitive in that industry with engineering experience for investment banking jobs.
 
Currently I’m in the Energy industry working on turbines. Any suggestion on what an IB or PE recruiter desires in a candidate? A few of the positions I found for Analyst or Associate require 1-2 years experience in IB or PE.
 
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