What role actually does financial modeling??

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In EY, the DME offering within the Strategy and Transactions practice does a lot of financial modeling

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Lots of roles; m&a consulting, IB, valuation, FDD. Pretty broad question, are you looking for something specific?

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Rarely in consulting

Traditional valuation modeling like DCF and LBOs etc. would primarily be IB and PE, yes. There are some fringe roles like valuation analysts at places like Grant Thorton who do similar work but not in the same light as IB.

For consulting, you do a lot of excel work in the M&A practice. Carveouts, due diligence, hold period projections, business case valuations, etc. Can't speak to other practice areas.

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