How difficult is the work in IB compared to FDD? In the process of interviewing with a couple of mm/boutique i-banks and wondering about the learning curve

like
Posting as :
works at
You are currently posting as works at

When I first started in IB, a Partner in FDD that I’d met once told me:
- IB is the used car salesman that puts together a story about the car and highlights it’s features, hides it’s flaws, and paints a great future for the potential buyer
- FDD is the car inspector/mechanic that takes a part the car piece by piece, looking for issues…
I absolutely hate the analogy because used car salesman is awful but it’s not inaccurate.

FDD is about facts, identifying issues in EBITDA/WC, and post-close synergies if strategic/cost rationalization if PE.

IB is about creating a story and helping a buyer see value in the business. IB requires more “BS”…

Learning curve isn’t steep because the job isn’t difficult. It’s breaking away from your FDD hat and trying to be less rigid/more creative.

likesmart

Related Posts

like

Which is a better specialization option within consulting? Commercial Operations (sales & marketing) vs. R&D Strategy in Biotech? Would the answer be different if it was focused within Pharma? No Ph.D.

like

Any thoughts on the debt finance teams in the Chicago offices of the following firms: DLA, Winston, Polsinelli, Holland & Knight, McGuireWoods, Blank Rome? Thank you.

How difficult it is to transfer from private service compliance tax group to ITS or M&A tax? How long does it take for the transfer? Any insights on how does day to day life look like for ITS or M&A tax?

like

What corporate practice has better longevity if your goal is to stay in big law for as long as possible: M&A or Capital Markets?

like

Hello,

I have got an offer from persistent systems and salary discussion is in progress.

I am going to be placed in some cloud BU. In which they are going to give training and allocate in projects which requires cloud expertise.

Any idea about that Unit?

Yoe - 6
Tech stack - .net + azure

like
likehelpful

What is the best firm in NY for an associate interested in international tax planning (inbound and outbound), M&A, and transfer pricing?

likehelpful

How is cyber risk consulting team in PWC india based out of Gurgaon? Is the team working from home ? Changing from Deloitte India to PWC india

like

What’s EYs investment banking practice like? How’s the WLB/experience gained? Is it worth it?

like

BMO Audit team vs TD bank Compliance team?
Any feedback on how the teams are.

like

How is the data practice team at coforge. They told client is an insurance company.
Can anyone share more . about it.

Who has the best M&A Tax Practice ?

like

What’s the best group to work on at FCB Health?

like

Anyone from digital business services team?

like

PwC CMAAS or A&M?

like

Anyone in NTT Data UK? Could you share your thoughts on the Data and analytics vertical ? How is their consulting model ? Read in a lot of bowls that they do staff augmentation. Is this true ?

like

How’s Consulting at T1/T2 in the UK different than that in the US? Consider all aspects such as client interactions, socializing, WLB, attire, meetings, promotion criteria, etc.

likesmart

If I want to transition into M&A from audit, what are some basic things I should consider?

like

Hi, Is anyone from Deloitte USI cyber security practice, please connect with me. Deloitte USI Deloitte
Loking for a cloud security senior consultant position..

like

More Posts

Next year I am going to complete EMBA from KREA University in Operation, Having 9yr experience in Accounts, IR&Admin in one of leading Construction MNC, my current CTC 9 LPA, How much salary can I expect if I want to join other organisation ?

Will I get the yearly bonus if i join in october ?

What impact has the prestige of your school had on your career?

like

Hi All,

I completed the APTA test and Technical round with HSBC and it's almost completed 2 weeks but i don't have any update. How can we consider this..?

Please suggest

like

Hey Guys,

I had my Technical interview with SALESFORCE on Dec2 for DevOps engineer - MTS . I haven't heard from them if I am selected or rejected. The career portal is still in " interview" status. HR won't reply. What to Do ? . How long will it take for Salesforce to conduct interviews??
Please help 🥺

like

Senior Analyst in a coverage role- tips to stay engaged during this slump? With deal flow essentially halted, where do you see juniors adding the most value and standing out during all of this?

like

Will IBM let me join with resignation acceptance letter from current company. As experience and reliving letter will take 45 days . Please advise

Anyone have recommendations for GCs? Looking to renovate a new home in Dallas.

like

Hi everyone,
Need help reg TCS BGC process.
Now I have only 2 days to accept the offer, not yet accepted.
My queries are 1) my 1st exp original services letter is not found ( lost somewhere), have scanned copy , I have supporting doc like form no 16 , full and final settlement , salary slip
2) i don't have a relieving letter from one of the org as they only provided an exp letter, in the same company.
HR is asking for all ex employee bank statement, my first company bank account is 12 yearold

like

I want a dog so badly but I can't imagine walking him up and down these hills every day T_T

What are some essential travel items to request for Christmas/Birthday from family? Also, any recommendations on a good, sturdy, cute briefcase for women?

like

Anyone stay at the Ritz-Carleton in D.C.? I’ve never stayed at a Ritz location so I’m curious to hear what to expect. Will be in D.C. for a conference so my firm is covering the trip.

like

Is there any way to travel or live internationally while working for the US government? I’m working in finance and accounting. Would love to know how and where.

like

My latest pickup, worth the 10 day wait after hitting on the SNKRS shock drop. Good luck to anyone trying to cop tomorrow!

Post Photo
like

Looking for a job in the energy in DC. Any companies recruit engineers with little business background/energy experience? I have 1.5 YOE, just not in energy. Background in engineering and polisci

Anyone else catching up on CEs while they're stuck at home?

like

User experience mgr salary? I support six product teams and eight reports. 20+ years experience

After the 10/15 deadline (Tax), so excited to get on my Tuono and ride for hours. Have been working every weekend for months now with very little riding. TIME TO RIDE!!!

like

Start up experience help! How much do you charge for taking on the entire UX of a startup companies’ app design?
Would you take a set amount of money or equity? Any experience here would help!

like

Anyone hiring fully remote AEs?
28% close rate, 65% win rate. Top in my segment.

like

Additional Posts in Investment Banking - IBD

Is breaking into equity research/coverage teams as hard as breaking into traditional advisory/M&A IB being from a non target school with a non finance degree?

like

Folks - when you calculate the total diluted share counts, does the result have to tie to the reported diluted share counts on the most recent filing (either 10K or 10Q)?

like
like

What are some great investment banks to work as an associate in the Washington DC area?

like

I’m a financial advisor (Series 7 and 66) and I really wish I would have become an accountant or investment banker. I like advising, but it’s a grind to find people to make new clients to sell to in order to survive. Are there any exit strategies for a successful young 26 y/o advisor to move to investment banking or a salaried advisor job?

like

Anyone have any thoughts on Primary vs Secondaries PE as a career after coming from Tech M&A? Wondering if Secondaries is a good move?

like

Senior Analyst in a coverage role- tips to stay engaged during this slump? With deal flow essentially halted, where do you see juniors adding the most value and standing out during all of this?

like

Any thoughts on BNP M&A in nyc

like

I’m four months into my job and I got put onto a PIP. I worked so hard to break into IB, put up all the hours and even working 2am nights for weeks, learned a ton, and improved a lot along the way as the sole analyst yet this happens. I’m extra worried because it doesn’t seem there’s IB analyst positions out there. Im really hoping come January more positions come up but I’m just praying they don’t fire me until then. Anyone have general tips for this situation?

like

Anyone analyze QoEs before? Need to come up with questions for due diligence call and looking for some guidance

like

I just graduated from a nontarget in Dec 2020 & am currently interning at PwC before I go back to do my Masters. My initial plan was to accept my full time offer and slowly work my way into IB.

I see postings right now for FT IB analyst programs. Should I even try applying online?

Ik recruiters don’t really read cover letters, but I learned about banking rlly late into college. i’m the daughter of blue collar workers who don’t speak English so I never really knew what jobs were “prestigious”

like
like

3/6 analysts on my team (myself included) did not get a bonus this year without any good explanation besides overall poor team performance. What would you do?

like

Lateraled into banking and I'm getting killed. My aso will mention to do stuff as he's walking out, says do this this and this and by the time I process what he said he's out the door then I miss something he's like I told you to do it. If I ask questions to clarify he gets annoyed, he says read what I wrote again, how is what I said confusing, etc. Dude I just want to be fed info my first few months until I reach a critical mass level of info to run shit on my own to some degree's

like

Am I more or less likely to be laid off if the economy tanks even more if I just started as an analyst two months ago

like

Does anyone know typically how many rounds there are for hedge funds interviews and how soon after interviews I’ll hear back about next steps?

like

Equity research associate considering to pivot into IBD. Is this a wise choice? Heard ER is an exit for some of the IB folks out there.

like

I can really use some direction. My background, I've worked 2 years in strategy and am currently coming off an exhausting year 2 in investment banking. I didn't particularly enjoy either role and am not interested in moving over to the buy-side or some monotonous FP&A role. Everybody says there's exit-ops aplenty, but I find myself with less options and even more picky than I did as an ambitious T2 undergrad student. Where do I go from here?

like

What does compensation look like for corporate bankers at associate/vp/director level at BB banks (think Citi/JPM/BAML)?

like

Does anyone know Barclays Ib summer bonus cycle month?? Thanks in advance

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal