One of my MD’s asked me to update a workbook with new deal info on a sheet they created in September. I did it with the new cap structure they gave, and got a paragraph back telling me it was wrong, and to use a different cap structure. Sent it back, same exact response with a third cap structure. I put these in and am sent a “your book is a mess,” when all of the “errors” they pointed out were errors from the original sheet from them and I got blamed. I just graduated, how do I deal with this?

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It's so weird how some people survive long enough to be MDs.

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Right?

Hopefully they will pick up the phone if you call them.

It’s a lot easier to be both stupid and mean over email.

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So true

Look for another job

Quit

I agree this is a shitty approach by the team. But did you revise the cap table three times based on information present in that one sheet or were you getting fresh information to use for each subsequent cap table?

Did you ask why?

Depends on the situation but when you work on a backup, in most cases you should take ownership of that completely. Which is why it’s “your” sheet. If the errors were there in the original but they are relevant to the answer your team is looking for, it’s on you to correct them. Doing so reflects that you’ve actually looked at what you’re showing and are thinking critically about it, not just plugging in numbers.

I guess my issue was that, while yes I took ownership of the sheet, I come from a REIT with no M&A experience and have been in market for ~4 months. On top of that, the errors were in the assumptions made previously by said MD, which I got double checked by my direct report MD as I am in no way knowledgeable enough to make/verify assumptions at this point. He said they look fine, so I sent it, which I guess they were not fine lol.

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