To learn financial modeling I really believe that you need access to specific excel models used by professionals. Just looking at sell-side analyst reports really isn’t enough IMO. I’d get in touch with contacts in the industry or alumni. I tried learning modeling for a long time and thought I had a good idea how to model companies (public comps, DCF). When I finally landed a job and took a look at a simple public comps model I was really surprised to see how much more detailed a professional model is than I originally thought. Getting access to these models will give you a much better understanding of how to look at companies as well.
the book Valuation by McKinsey & Co has a CD you can buy with it that gives the run-down on financial modeling, if you really want to increase your skills. there are classes as well -
(classes such as Wall St. prep as someone else mentioned)
topher Wrote: ------------------------------------------------------- > How do I tap into my alumni network? I see bios on > websites of people who went to my school but what > do I do? Should I just call and ask for openings > and/or their help? How do I spin it in such a way > to not come off as a pushy, used car salesman type > of guy? > > I’ve contacted alumni friends who have good FO > jobs, but they are analysts/associates and it’s > not like they have much say in who gets > interviewed or hired. Most people I talk to seem > unwilling to help. > > I think I’m just frustrated that’s all. I do all > the work in my operations department and now I’m > considered the workhorse here. And this work > sucks. First, just wanna say I’m sorry to hear you got dinged so late in the process, Topher. 
Second, I don’t know how much help I can be in this regard, but I recently found the “alumni network” database for my school (Umich). There are a couple different sections, one that even sets you up with a career mentor in the industry/field that you are looking to break into. I’m waiting to get the results back and see where that leads, but I found that to be interesting. Then there was the actual alumni database where I could search through people by their industry, what they are offering (career advice, company info, career ops, etc.), and send them messages. I emailed a bunch of people who came in my search for “investment management” (I’m hoping to find a entry-level role in ER), but only one person responded so far, though, it was the head analyst in research for a big firm, so hopefully he’ll be helpful. I’m sure your school has something similar, and I think it’s worthwhile to at least check out. From what people have told me, it’s not wise to come out asking for openings/interviews. Rather, start off asking if they are willing to share their insights into whatever industry or job you’re looking at, what they do, tips they can give you, essentially the basics. From there, hopefully they are helpful and open enough to carry on a conversation and eventually it could lead to them helping you out past the advice and something along the lines of an interview. Again, this is just based on what others have told me, and I’m currently also trying to work through this process myself. I think you’ll be fine with your job search. Good luck!
aspiring-analyst Wrote: ------------------------------------------------------- > I hear this is a good book to apply your CFA > learnings to real world: > > http://www.amazon.com/Principles-Finance-Excel-Sim > on-Benninga/dp/0195301501/ref=pd_bxgy_b_img_b > > I plan to purchase it soon. great book, bought it 2 years ago when i was ramping into my MBA.
TOPHER, sorry to hear the bad news. I really thought you had this one couple of things 1) wsp is good for modelling, you said you did it? there are also some good books out there, like the benninga book as well as some other ones I can recommend 2) you did the right thing in asking for feedback – tell them to tell you why they passed on you. I always do, and they typically give some nonsense answer, but once in a while once cna glean an insight and get better. 3) i think being at that breakfast and not being in the know about individual security selections hurt you,. 4) agree with others than them claiming you had the wrong skill set after 4 rounds is BS. they just found someone they chimed with better and threw the skill set card out. 5) john tracy’s red book on fin stmtm analysis is good for understanding the process of fin stmtm linkage 6) you passed level 1, right? 7) good luck with your next shot. i have my “big” interview this coming thursday and I am scared shi****.
Topher, just to not make you feel bad, I was dropped after 6 round interviews! I met the MD of the department and she (a bit&&!!) told me “you have very good skills, why should I hire you if I already know that after 6 months you will move to another department of the bank??” WTFFFF
strangedays Wrote: ------------------------------------------------------- > why should I hire you if I > already know that after 6 months you will move to > another department of the bank??" WTFFFF WHY WOULD SHE SAY THIS??? THERE HAS TO BE A REASON
Topher, sorry to hear the bad news. The further you get, the more it hurts, generally. Did they actually tell you that your skill set isn’t good enough? Or are you inferring this from the fact that they passed on you? And did they say that “your skill set wasn’t good enough,” or did they say “we found someone with a better skill set?” Just because there was someone better this time around doesn’t mean you should be worried about your skill set in general. Also, one thing that can happen as interviews progress is that the job starts to get redefined. Usually there are a bunch of needs that need doing, and so if you look like you have exactly the right stuff early on, you have to be a little careful that they don’t start to redefine the job because someone wants someone who can do this other weird thing. So, I’m sorry about the bad news, and take time to let the frustration work its way out of your system, but don’t be too rough on yourself about it. Just keep plugging away.
bchadwick Wrote: ------------------------------------------------------- > Topher, sorry to hear the bad news. The further > you get, the more it hurts, generally. > > Did they actually tell you that your skill set > isn’t good enough? Or are you inferring this from > the fact that they passed on you? > > And did they say that “your skill set wasn’t good > enough,” or did they say “we found someone with a > better skill set?” Just because there was someone > better this time around doesn’t mean you should be > worried about your skill set in general. > > Also, one thing that can happen as interviews > progress is that the job starts to get redefined. > Usually there are a bunch of needs that need > doing, and so if you look like you have exactly > the right stuff early on, you have to be a little > careful that they don’t start to redefine the job > because someone wants someone who can do this > other weird thing. > > So, I’m sorry about the bad news, and take time to > let the frustration work its way out of your > system, but don’t be too rough on yourself about > it. Just keep plugging away. I’m working with a recruiter and she’s the one who communicated to me that they said I didn’t have the skill set they were looking for. Oh well, I’m over it. I just sent out another 5 resumes today. I just have to keep trying. Thanks for all the support everyone.
Bleh… the recruiter is covering her arse. I agree with the others that you don’t get to round four and not have the skills they want. Probably someone did have some critical skill or experience that they really really wanted to make use of. There’s no real way to figure out which skill that is. You were a good alternative choice and had plenty of skills they like (otherwise, no round 4). They tell the recruiter that this other guy had some key skill that you don’t have, and she turns to you and says that your skills (note the plural) aren’t good enough. Ignore her and just keep plugging away. Good luck!
I was dumped after the 6th interview at a top MF…I’m pretty sure it came down to $$$. I told them that I’d be willing to take a pay cut in order to gain experience and professional growth but no specifics were discussed. Two weeks after my interview, I saw the job posted on Monster w/ a starting salary of 40k a year. No wonder they told me I was overqualified.
daj224 Wrote: ------------------------------------------------------- > strangedays Wrote: > -------------------------------------------------- > ----- > > why should I hire you if I > > already know that after 6 months you will move > to > > another department of the bank??" WTFFFF > > > WHY WOULD SHE SAY THIS??? THERE HAS TO BE A REASON I guess the reason was that one week before my country beated her country in the football world cup I guess! 
topher: I have no experience about job searching yet, but all i can say is don’t give up! quitters never win, winners never quit anyway, i am planning to learn financial modeling too, which one is better, WSP or the Principles Finance Excel book? WSP is quiet expensive for my pocket…
welly Wrote: > > anyway, i am planning to learn financial modeling > too, which one is better, WSP or the Principles > Finance Excel book? WSP is quiet expensive for my > pocket… WSP is more “practical” Benninga’s stuff is more for core MBA finance classes.