How to become the top analyst and all the MD's go-to analyst in IB?
Fundamentally, your job is to add value to your MD and make his/her life easier. This can be done dozens of ways, but you need to apply this concept to every aspect of your job if you want to be a top bucket performer. But don't be a kiss ass- nobody likes one of those, there's a fine line. If you're a value contractor to your MD/higher ups, you're useless to the firm. I'll list a few below to help you out that I've learned being top bucket at an EB/boutique:
- Take detailed, structured notes on every call (broken down with action items). No exceptions.
- ALWAYS print your decks out and go through them with no distractions.
- Be hyper attentive to your email, but always make sure you're answering all parts of the email. I've gotten several complements from buyers, client executives, etc. how attentive I am all hours of the night (if your client is up doing diligence at 2am, you should be too). I do this by setting my phone's ringer on every night if I want to go to bed before 11pm to hear all overnight emails come in.
- Know how to model inside out, even if it's the associate's role to model. We all have downtime no matter where you work, in this time build models from scratch, learn how to LBO, etc. Extremely experienced modelers are a rare commodity in IB since the majority go to PE. You'll become insanely efficient at a model if you do this as well.
- Understand debt (more applicable to an industry group). You should know what typical leverage levels are in your client's industry, what typical covenants are, etc. Financial markets are largely influenced by debt, and it's important to understand that. Often overlooked, especially in an analyst role. Pull public credit agreements of your comps and read the terms. Even though PEs will do their debt modeling, learn how to do debt covenant/capacity analysis. You'll become extremely valuable to your team.
- IMO- play the politics game. I know this is controversial, but I always do politics. There's a fine line though, you still have to treat your other analysts with respect and don't want to spoil relationships with peers.
- Use the quick access toolbar to create your own shortcuts (even for your outlook). This can cut down on your keystrokes. No exceptions, you should be hands-free in excel. I'm ~85% hands free in powerpoint, only because it'll be faster to use your mouse for some tasks in powerpoint. The others, you should create your own shortcuts.
- Try to be everyone's "go-to analyst," even other analysts. This takes the form of being knowledgeable on lots of topics, projects, models, etc.
- Read and try your best to understand legal docs (stock purchase agreements, commitment letters, etc.). You'll be more responsible for these aspects of the job the higher up you get, so better practice understanding terms now
- Manage your expectations on workload. Treat everyday like you'll be leaving the office at 11pm at the earliest. Every hour before that makes you feel better. Nobody said being an analyst would be easy- you need to have the "survivalist" mentality for 2-3 years.
- For health purposes- eat healthy (salads for lunch, non-carb heavy dinners), exercise everyday (even if its just running a 7 minute mile), prioritize sleep whenever you can.
- For your life- save as much money as you can to give you optionality if you ever want to leave IB. I max out 401k ($19.5k I believe), do a backdoor roth ($6k I believe), $10k emergency savings account, fund the rest to your savings/brokerage account. A substantial portion of your bonus should go to your savings/brokerage.
Follow these steps, along with generally being someone who "gets it." Obviously, there's more to make an excellent analyst, but these are all the actions I live by on the top of my head. Hopefully that helps.
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