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Complete Analyst - Frequently asked Questions

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What is the Complete Analyst™ system?
The Complete Analyst system is a set of reference manuals and guides for new and experienced bankers, private equity and research analysts as well as those interested in entering the investments banking and finance sectors.  The objective of the system is to guide bankers through the formative steps in their careers
The system is not just a set of technical reference manuals, but a practical and up to date source of advice based on the extensive experience our instructors have in the field.  Through the working closely with our investment banking clients, we found that most bankers had access to technical resources but much of it was without practical application. The Complete Analyst system boils down everything an investment banker needs to know to do their job into a series of key manuals and reference aides.
The Complete Analyst system is comprised of the following:
Reference manuals:

  • The Complete Investment Banker, 2nd edition
  • The Complete Financial Modeler, 2nd edition
  • The Complete Intern - a guide to navigating the investment banking maze

Supporting tools:

  • The Kit
  • The Shortcut Card

What format is the Complete Analyst system available in?
The components of the Complete Analyst system are all available in hardcopy versions.

Who wrote the manuals?
The manuals are all written by 7city Investment Banking Division instructors.  Our instructors all have practical experience workings as investment bankers, traders, recruiters and accountants, etc.  The faculty has over 130+ years of combined investment banking training experience.  It is this practical experience together with years of developing some of the leading investment banking training programs that has allowed for such a comprehensive reference set.

Who should read the Complete Investment Banker?
The Complete Investment Banker’s core reader is at the analyst and associate level in the investment banking, research and equity industries.  The content varies from beginner to advanced and is both practical and technical – it is there to be a go-to reference guide.  Some of our clients have referred to the Complete Investment Banker as “the technical bible.”  We have had heads of investment banking take copies of the manual, as well as a number of managing directors.

 

What are CA Tips?
CA Tips are application tips/annotations scattered throughout the Complete Investment Banker and Complete Financial Modeler.  These tips are designed to provide relevant real-life examples to demonstrate application of technical procedures. 
CA Tips include advice on:

  • Using broker consensus numbers
  • Interpreting the share option note
  • How do you pick a research broker?
  • What makes a good valuation football field?
  • Why do multiples trade at a premium / discount to a peers?
  • Using FactSet =FDS codes
  • When can a pension deficit be a deal-breaker?
  • Getting an up to date NOSH

What is new in the 2nd Edition of the Complete Investment Banker?
As the nature of investment banking continually evolves – The Complete Investment Banker must evolve too.   The second edition of the Complete Investment Banker includes updated information that addresses current practices.  The second edition of the Complete Investment Banker features several updates, including:

  • New content from
    • Thomson Reuters
    • Bloomberg and
    • FactSet

This new material further fuses technical knowledge with the skills needed to succeed on the desk.

  • New chapters on
    • ratio analysis
    • leveraged finance
    • leveraged buyout (LBO) modeling
    • debt and equity capital markets
  • Updates of IFRS and US GAAP rules

We are confident that the content of the book will be a helpful resource for the duration of a banker’s career. 

I’m an Associate – Isn’t this series a bit below me?
The Complete Investment Banker and Complete Financial Modeler are the appropriate level for an associate and they are used in our Associate programs across the globe with top tier banks.  The manuals cover the whole spectrum of investment banking technical skills including:

  • Accounting
  • Valuation
  • Financial modeling
  • Merger modeling
  • Debt and equity capital markets
  • Leverage finance
  • LBO modeling

An associate will be taking responsibility for managing the operational part of the deal team.  Hence there is a wide range of technical skill that an associate needs to drawdown on.  These skills are assumed to be in place for associates – that is a big ask.  The manual is the reference guide of an assumed associate skill-set. 
As mentioned in previous FAQs – this manual has been picked up by heads of investment banking and a number of managing directors.

What is The Kit and how does it work?
The Kit is a compilation of snapshots of key knowledge areas for quick reference on the desk and in training.  The snapshots cover:

  • Visual definitions
  • Review and sanity check tips for valuations
  • Annotated Bloomberg screens
  • Typical errors made by analysts and associates
  • Schematics for LBO and merger models
  • FactSet and Thomson Reuters key skills

The Kit is fully cross referenced with the Complete Investment Banker and includes content provided by Bloomberg, FactSet and Thomson Reuters.  The Kit is comprised of a number of sections:

  • Analysis
  • Modeling
  • Valuation
  • Pitch Book

The Kit comes wire-bound and laminated to withstand day-to-day desk wear and tear.

Will these manuals help me to be better at my job?
These manuals will improve your technical and practical hard skills – but its better hearing this from our users rather than from us (we’ll just be biased!) – see our feedback from our readers.

What materials do the investment banks use to support their training?
The Complete Analyst system, particularly the Complete Investment Banker and The Kit, is used in all of our investment banking, private equity and research programs.  Our clients are offered the option to use the system – all of our client choose to. 
So if you are looking to up-skill or gain an insight into the technical skill level required to succeed in the industry, you are investing in the same product bought by the top tier investment banks.

Which of your clients have used the Complete Analyst System?
Some of our clients who have bought the Complete Analyst system are:

  • JP Morgan
  • Citi
  • Barclays Capital
  • UBS
  • RBC Capital Markets
  • Deutsche Bank
  • Nomura
  • Rothschild
  • Lazard
  • Terra Firma
  • Commerzbank
  • Arqaam Capital
  • RBS
  • Berenberg
  • Abu Dhabi Investment Council

What are your relationships with Bloomberg, FactSet and Thomson Reuters?
The Complete Analyst series includes new content provided by Bloomberg, FactSet and Thomson Reuters to further fuse technical knowledge with the necessary desktop skills interns need to bring to the desk.  We are excited to be working with these major global data providers. 

This content takes the material of our manuals to an even higher practical level – we are unaware of any manual currently on the market has integrated these desktop products into learning and development products.
Bankers don’t just need to be technically strong, they also need to be whiz-kids with the desktop software.

I’m still in school, how can this system help?
The Complete Intern –Navigating the Investment Banking Maze was written for you.  As part of 7city Learning’s Complete Analyst system, The Complete Intern is designed to act as a comprehensive and practical reference guide for those wishing to enter the investment banking industry, including those still in school.
The manual provides guidance on the best way to secure an internship, and then full-time position, as an investment banker from industry experts who have worked in recruitment, banking and training. Not only does this manual provide tips about the dos and don’ts of the recruitment process, it also includes technical preparation for the questions you’ll get asked in an interview.
Written by experienced Investment Banking Division trainers and recruiters, the technical Q&A section contains the clearest explanation and application of technical content in a way that makes it easy to prepare for an interview. It is the most comprehensive collection of questions and answers available in the market and is based on real questions that recent new hires were actually asked during their interviews.
The content in the Complete Intern includes:

  • Introduction to investment banking
  • Getting recruited
  • The typical intern experience
  • Examples of interview Q and A’s, which cover technical topics such as:
    • Accounting
    • Valuation
    • Financial math and statistics
    • Equities
    • Fixed Income

Does the Complete Analyst system cover interview preparation?
Yes, the Complete Intern is aimed at university and business school students looking to secure internships and full-time employment.  It covers the interview process, preparation, key tips and dos and don’t. 
This section of the manual has been written by Rachel Andersen and Rebekah Irion.  Both Rachel and Bekah have both worked within Investment Banking recruitment teams and have the real-life experience interviewing and recruiting talent for some of the top tier investment banks.  This experience is shared within the pages of the Complete Intern.

I’m a liberal arts major at a university – how can I prepare for my investment banking interviews?
We deliver to a number of liberal art majors (or non-finance university graduates) on our investment banking programs each year. 
Often these young bankers turn into some of the strongest talent we see.  This is partly due to the sheer effort this population needs to be dedicated to in order to get up to speed with the financial knowledge, as well as the fact that this population thinks and processes differently than those with a financial background.

That said, banking is a very competitive market and the key is to differentiate yourself from the crowd.  Set yourself above the population by being better prepared technically.  There are a few good manuals and guides that do this.  However, the Complete Intern is unique in its approach towards fusing technical knowledge with interview preparation skills.  Two of our Complete Intern contributors have recruited for the top investment banks in the U.S. as well as Europe. So rather than purely academic technical assistance, you will be provided with technical assistance with a practical direction.