Spreading Comps in Investment Banking Explained in Plain English

Spreading comps is a type of financial statement analysis and possibly the most frequent task junior investment bankers will get in their early days.

In fact, it’s the stereotypical “oh, can’t we find an intern to do that” kind of task, because it’s time consuming, mindless grunt work – or at least it is to any analyst with half a brain.

But for you interns it’ll be a whole new experience and something you’ll approach with trepidation – unless of course you realize how simple they are…

Spreading comps simply involves comparing a bunch of companies based on a handful of financial metrics, most notably value multiples (eg EV/EBITDA). It gets trickier within certain industries where the financial metrics of concern grow and deviate away from simple value multiples. But don’t worry, your group will handhold you through this.

Before I continue I’d like to head off any students thinking “Can’t a computer just do the calculations?”.

Well the answer is yes, there are databases filled with all the info – and calculations already done for us when we run a simple company search, eg CapIQ.

But the problem with these programs is they’re terrible at rendering the kind of precise financial calculations senior bankers demand.

You see, although these computer programs scour the financial statements like any good intern, they don’t do all the adjustments like add backs or take into account footnotes littered with references to non-recurring charges etc (explained below).

So although these computer calculations are quite good, they’re not banker-good (aka perfect). And at $10 an hour you are a cheap way to get accurate results.

Also, every time I presented comps as an intern I was asked how I arrived at every freaking metric – so by doing them myself I was able to show the ‘how’, and didn’t simply say “Computer says yes!” like a Little Britain travel agent!!

Let’s get back to Spreading Comps 101

At the heart of any spread is our client company or some other target company – we want to see how they are performing, valued, structured etc against similar companies. ‘Similar’ can mean same industry, same size, same debt structure etc, depending on the situation (IPO v M&A etc).

It’s important to realize that ‘similar’ is a subjective decision, and one that your mentor will often make for you by saying “spread these 5 companies”.

But if they leave it in your hands then be careful to select companies that are similar along the lines that matter most to your end analysis.

Although the end result (a couple metrics for each company) seems simple enough, getting there can be difficult.

Spreading comps you see, is as easy as the company’s financials and structure is simple…meaning if you get handed a couple of Enron-esque or transparent-as-the-Fed types of companies you could be in for a world of pain when it comes to finding the numbers you need to do things like add backs, multiples calculations etc.

(eg me in the first week of my internship all those years ago…hello hidden non-recurring charges, off-BS v on-BS dramas, complicated debt structures, dozens of dense language confusing-as-hell footnotes etc…ouch!).

The intern who will impress bankers the most is not necessarily the intern who comes up with the metrics fastest, but rather the one who can show their full calculations for every metric and explain how they arrivedat each answer when interrogated by a senior banker.

Eg explaining how they deciphered what footnote 12 meant, showing how they added depreciation back in at Point B etc.

ie banking is just like math class – you’ll get rewarded for showing working out!

Check out our common investment banking internship tasks list now to discover the 38 other tasks young investment bankers will be asked to do from Day 1 and exactly how to crush them.

The Growing Trend of Online Money Transfer Service in India

Earlier people were solely reliant on the age-old custom of transferring money through banks and post offices. However, this scenario has witnessed the drastic change with the establishment of companies offering online money transfer services for students and for people of rural areas. The hassle-free manner in which these new-age companies are providing financial transaction services are motivating the younger generation significantly. If you are in search of an efficient solution to transfer money Particularly, categorized facilities like online money transfer service for students can prove to be a boon for you, if you are in search of an efficient solution.

Why college goers are opting for online financial transactions

Today, most of the college campuses are well-connected to the internet network. This has made most of the youth tech-savvy and more apt at using online modes of functioning. You can witness this in the way they are embracing online money transfer service for students provided by private firms. If you make a comprehensive study, you can find the following reasons behind this shift in preference:

1.Great Customer Service: Unlike the overly crowded government organizations, private firms offering money transfer services provide more satisfactory customer services. Irrespective of the nature of your query related to any financial transaction, you get a reply within minutes via email. This also makes it easier to know the entire process of money sending easily. Besides, you can contact these firms dealing with the online payment service for rural areas anytime.

2.Cost-effective solution: Currently these companies providing online money transfer service for students are trying hard to attract the massive customer base of the government sector. This need of private firms offering money transfer services is actually benefiting customers. Today, you can send money to rural areas by paying a nominal service charge only to these private firms. To top it all, they hardly attach any hidden charges that might create any financial problem for you even after using on an irregular basis.

3.Free from the impact of malware: Recently, news surfaced in the media that a good number of government sector banks are prone to malware attack. In such cases, you are likely to get affected due to data theft and financial losses. However, by opting online money transfer service for students offered by several outlets, you can expect enhanced safety. These firms are using high-end technology and latest software to provide you malware free solutions.

4.Flexible payment options: Lastly, the thing that is giving these new-age firms a substantial lead in the market is its facility of the easiest mode of payment. You need not have to fill those long forms and waste time in a queue when you start availing the services of a private money transaction service provider. You can choose to pay through your debit card or credit card to fulfill your specific money transfer requirement.

IT, BPO and Banks Jobs in Gujarat, India – What You Require to Hold Them?

Gujarat has been able to build an image of a business-friendly state over the years all over in India. Finding a job in Gujarat is not a mammoth task, as there are wide array of job sectors to choose from, not just manufacturing and information technology but also Non IT sectors.

Every Job Seeker has one common question in mind, and is –
Why there is not just one place we can go and find all available jobs in the market?
Answer from us –
What are you waiting for, there are job openings waiting for you at DvdasJobs.com, just around the corner, go, visit and grab them!

“Market” is the most preferable place/method for getting the information about the records and data analysis of any industries, consultants, etc. Everyone has rights to get information about the past records to which one wants to enter into the organization. During your Market analyzing, we are pretty sure about that we’ll never let you to put down your dreams and hope.

When one is looking for job through any specialized job search engine on internet. A good job search website also needs to have some tips for both employers and candidates. The main fact is that, this websites are not only servicing people who are looking for jobs. Part of your clientele is employers who are in need of your services. DvdasJobs.com is a rapidly-growing job portal serving job seekers looking for jobs in Gujarat for Ahmedabad, Navsari, Surat, Vadodara as well having wide eye for serving whole Nation.

Textiles, Finance, IT industry, Diamond, Realty, Infrastructure Development, Pharmaceuticals, Hospital Industry, and many other expanding industries have created many jobs in Ahmedabad, Navsari, Surat, Vadodara and the companies are willing to pay good money for talented professionals. This, coupled with the fact that the city is less expensive than other big cities, makes the option for working in Ahmedabad, Navsari, Surat, and Vadodara viable for professionals from other cities.

Firstly, prepare a very good resume or Bio-data and get free registered to our DvdasJobs.com website. Login to your Jobseeker account and fill all the required details and then you will be able to see all the respective positions/vacancies held opened.
Be on the lookout for job openings by visiting sites of the companies you are interested in regularly. You are free to apply to the Job openings showed on the website. For further process, one will get text messages or E-mail respectively.
Once your resume is received, the recruitment team does the initial screening of the received resumes. The surviving resumes are then sent to the hiring manager to review and the actual interview process begins.
We mostly cover the Gujarat states which include Ahmedabad, Navsari, Surat, Vadodara, and many other cities as well in India too with our recruitment services.

DvdasJobs.com is having its aim and vision to make India as a Developed and Employed India..!!!
Needed is just your Support….

About Anonymous Bank account and Offshore Tax Havens

What does this term anonymous banking means? Well, in simple words, it means that an individual without revealing his or her true identity is able to use all regular banking features like an ATM card, Visa Card even, money transfers, deposits and withdrawals. It can be done in many ways. One way of doing so is that instead of his actual name for the transactions done on this anonymous bank account a person actually uses an organization’s name.

Normally, to know about the person who is involved in these monetary transactions people do so when they do not want a particular country’s authorities. It is important to note here that, there are now regulations which require banks to be more transparent in sharing the identities of the account users due to new treaties between many countries. Banks have full authority to reveal the account user’s identity and details to authorities if there is anything illegal done with that money. This is beyond the control of a user. Strict steps can be taken in current scenario if there is a question on law and order.

Still, for people who are not involved in anything illegal and still want an anonymous bank account offshore them there are few steps to be followed. If you search online, to assist you with the procedures involved, there are many online companies like the offshorelion. In order to open an account one can either register or incorporate an offshore company, which has a registered foreign nominee director who will also be the sole shareholder ready to sign the documents while opening the account.

Till some time ago, there were few anonymous bank accounts, for e.g. the legendary Swiss numbered account. Another one is Spabuch, which is no more in use now. It was available Austria. The formalities to open this account were minimal with no ID or name required to open this account. In a booklet attached to the account the user’s deposits and withdrawals used to be recorded. You too were considered a legal owner If you had this booklet. After a lot of discussions and opposition the legal restrictions on such accounts have been implied. If still, someone wants to get in to this kind of activity, he or she needs to check online and see if such accounts still exist.

Offshore tax havens

The hubs of a growing shadow economy of unregulated global capital are known as tax havens (sometimes called tax shelters, secrecy jurisdictions, international financial centers, or simply offshore).

To avoid or reduce taxes in the home jurisdiction it enables foreign individuals to hide assets or income. In this way earnings from income generated from real estate can also be eliminated. As some taxes are levied by the country the real estate where the property is located, these taxes cannot be avoided or reduced and hence need to be paid just the same as any other resident of that country.

Bank Jobs 2016

Bank Jobs 2016

There are many job vacancies available in banks. In India. There are many public sector banks, nationalised bank, rural banks, private banks and their branches. The candidates who are searching for latest bank jobs can apply in this institution. The candidates also can apply for RBI Bank, and it has 2000 branches across the country. The candidates who are looking for latest bank jobs also get jobs in many banks. There are 26 big corporate companies which are going to open many new banks and banking branches so that the candidates get more job opportunities in this branches.

Bank Jobs In India

Banking field is one of the big platforms for jobs and career. A lot of people established their career in Banking field. In September 2013 Reserve Bank of India (RBI) issuing the licenses, and various companies like TATA, Reliance, Birla’s and other 26 companies will be able to run their banks in India after getting the license. The freshers, as well as experienced candidates, can apply for bank jobs, and it is easy to work with banks. The candidates get more job vacancies in banks. Banks are the biggest sector fo jobs. The candidates will be selected based on their performance in the written exam and personal interview which will be conducted by the organisation.

Latest Jobs in Bank

Many candidates attracted with banking jobs. Everyone cannot get this golden opportunity. The candidates will be selected based on their qualification. The bank will provide consolidated monthly pay scale to the selected candidates. The salary will be provided based on posts. RBI bank is going to launch many banking branches so that the candidates who are looking for latest bank jobs will get more job opportunities. The candidates those who are eagerly waiting for a good job will get job opportunities in bank field. The selected candidates will get good salary. The candidates who are looking for latest bank jobs in government and the private sector. The candidates can select according to their wish.

Bank Recruitment 2016

The candidates can visit the official website to get more information regarding latest banking jobs vacancies. The candidates can choose their career in banking field as it is providing many facilities to the selected candidates. IBPS conducts CWE (Common Written Exam) two times in a year. The bank will recruit suitable and eligible candidates to fill various vacancies in the organisation. The candidates will be selected based on their performance in the written exam and personal interview which will be conducted by the organisation.

Bank Jobs

In banks, there are various vacancies available for the candidates who are looking for latest jobs in banks. Candidates get a job on the post of the probationary officer, manager, assistant manager, clerk and various other posts in banks. Banks invites suitable and eligible candidates to fill particular vacancies in the organisation through its official website. The candidates will get complete information regarding educational qualification required for the posts from its official website. Candidates get all information from the official notification regarding particular recruitment such as selection process, vacancy details, age limit, pay scale, important dates, educational qualification required for the posts, etc.

4 Customer Experience Takeaways for Banking Sector

With the introduction of core banking or internet banking, nowadays customers of the banks get the facility of sit-at-home banking experience. But as the studies have indicated, almost 50% of the customers still visit the branches to do transactions. Customers still experience still experience the physical and digital banking services. Banks are now asking for deeper customer insights to engage the present and future customers and bring continuous and consistent customer experiences at every point of service.
What is the Customer Experience Exactly?

As in the past, Apple, Netflix , Amazon have set precedents with their unique customer experience leads, the leading banks have now decided to suit their examples. This has brought a holistic vision about what a customer could experience during banking hours.

As a matter of fact, banks do not treat simply the mobile apps and web portals as the only means for improvement of customer experience. On the whole, it constitutes of four parts.

The experience of the User – Familiar as UX, banks have forever stayed in search of an insightful, easy, and stimulating digital contact that could get personalization of customer service related experience.

Serving next best experience – Banks are nowadays serving next best experience or NBA that adds considerable value to the relationship between the bank and customer. It helps banks to get new accounts, do an addition to the share of the wallet, and bring a reduction in the slow destruction of their existence due to lack of analysis of data about customer experience.

Creation of Omni-channels – It stays primarily a task with the banks to do organization of service through various channels without rendering least harm to customer experience through the addition of context and continuity.

Digitization of the process – The bank needs to keep the process of digitization faultless by giving front-end experience to back-end people so that the processes and systems stay intact.
4 Unique Takeaways that Banks Need to Revolutionize:

Progressive build-up of necessary utilities – First of all, in order to create the necessary potential s and enablers, which consist of deep thinking about design, strategy for the creation of better user experience (UX), segmentation, mobile platforms, mapping of the journey, and important analytics. Literally speaking, the task of collection, analysis, and application of meaning begins right from the customer says “Hello” on the phone.

Analysis of data from interactions and transactions with customers – In-depth analysis of interactions and transaction with customers could lead to meaningful and significant information about customers’ behavior. Such information gives deeper insight about customer experience. When properly analyzed and documented, the information could become precious information that could lead to rich ROI (return on investment).

Analysis of transactional behavior – Banks are unaware that they have rich repositories of customers’ data. Be it demographics, income, expenses, or value of their homes, such data could get processed to become meaningful information about customers’ transactional behavior. This gives the clues to the banks to know whether a particular customer is tight-fisted about spending money or just a spendthrift to fritter away all his hard-earned money on the trivialities. A very personalized customer experience could get developed by the integration of external data from the outside sources with the above inside information inside the bank as this invariably leads to more meaningful insights about customer experience. For instance, the digital footprint left by the customer reveals that he or she is going to make a purchase of a car and banks could tap the information to extend a timely offer for the loan to buy the vehicle. But sadly, the executives in the banks have turned their backs on the collection and processing of such data and wait with the intentions that the customers would turn up on their own at their doorsteps.

Development of innovative products and strategies – Analysis of customers’ information leads to improvement in products and services as well as better products’ deliveries and services. But in all such cases, proper utilization of such data leads to innovation in financial product development and better marketing strategies for further market development.

It is needless to say that the banks have a long way to traverse before they could match the levels of customer experience of Google and Netflix in order to arrive at customers’ insights from customer data. But with the progressive analysis of data and development of strategies, this is certainly achievable.

Best Banking Coaching Classes Nagpur

Time to Look for a Banking Career

There are few professions, that are seem to be evergreen and the demand for those never dip at any point of time. Some of those are Teaching, Nursing, and Medicine etc. If we take Teaching into consideration, many feel that attractive payment is not given in this profession. In case of nursing also the situation is not much different. Comparatively Medicine is better, but many feel that there is no option for career growth and there is no standard industry structure. For people, who are searching for a fitting profession, that addresses all the above criteria mentioned, I have an answer for them, which is banking.

Banking is not a new industry and if we look back we see that the premature form of banking has been started during Indus valley civilization in India. During colonial period, it has been transformed into a structured format and many rules and regulations have been introduced to address various needs and market conditions. Present day, we can’t think a world without banking and the institutions are the veins of the economy.

Hence, let us discuss the benefits of banking career, major openings come under banking and best banking classes in Nagpur.

Benefits of Banking as a Career

It is a promising career with good pay structure and people who are ready to work hard can reach senior management levels of the respective banks. A good career growth can be expected to most of the candidates, as there are various roles within the bank. Most importantly a basic graduation is only required to entry level posts in banking, whereas other professions require specialised degrees and skillsets. Apart from that there are specialised openings as well to address various functions of bank like Chartered Accountants, Security Officers etc. This diversity assures a place for people from different education backgrounds.

Major Openings

Generally banks recruit to their clerical and probationary officer cadre. Most of the banks recruit general graduates with or without experience. Banks shortlist applicants based on general test conducted by them. The shortlisted people would generally be called for a personal round interview and recruit suitable applicants based on total score secured by the applicants. The general test which conduct by the banks are found to uniform in nature with multiple choice questions on general knowledge, data interpretation, reasoning ability, English and computers. It has been found that private banks such as ICICI conduct separate test, whereas public sector banks together conduct a common test called IBPS. But SBI diverge form this format and conduct separate test for their openings to have more accountability and control.

Best Banking Classes

Though many institutes are conducting banking classes, some of them are found to be not having adequate expertise and experience. A good institute should have great idea on pattern of questions in different bank exams and should teach their students in a simple way. I am sure that you can find some best banking classes in Nagpur, if you search in this way.

Use the internet reference or friends’ and relatives’ reference to find best banking classes in Nagpur. Let this be a new step to a great career.

Deft Bank Account Asset Search Yield Valuable Information

While people are continually committing offenses, there are also judgments pronounced against them to compensate for the damages that they have caused or what they should lawfully give to the other party. But it is not always easy to obtain such amounts from the offending party as most of them take careful measures to declare themselves as insolvent despite the fact that they have assets and properties stashed away for good. In such cases where the offender is trying to dupe the other party as well as depriving the rightful payee, an asset search may be required.

Quick search results

Professional agencies that conduct such search have qualified professionals and private investigators who carefully carry out bank account asset search in keeping with all Federal laws. While the national search is an easier prospect, more difficult are those that are hidden away off-shore. The agencies, however, employ advanced electronic methods that enable them to get the available information within a short period. Often it is a quick search that enables a recovery of the stipulated amount before the account is tampered with and the money removed deftly.

Helping the rightful

The agencies when they undertake a case of asset search only above a stipulated judgment amount employ a team of investigators that tap all possible resources simultaneously. Such a commercial asset investigation will be necessary for both parties that are the rightful payee such as those that should get the alimony and child maintenance fee apart from a host of others. There are also cases when a private law firm or even other private personnel may need the service of such an agency before the filing of a case.

Tracking continually and carefully

In case a person is genuinely insolvent, there is no point in a company or even an individual in investing in a lawsuit to recover the rightful due. In such cases, a pre-judgment bank account asset search is helpful in saving precious financial resources. The professional investigators not just scan the movable and the immovable assets of the person carefully but also continually monitor the movement of the offending party. This is of course done without the knowledge of the person concerned so that any change in the financial status is immediately traced and the report filed.

Aggressive and successful search results

Asset search agencies are aggressive in their approach and are also successful in tracing hidden brokerage accounts, vehicles, property and other valuables that may successfully yield the judgment amount. The service of the agency is successful in indicating the complete collectible status of a person for both pre and post judgment. While most agencies have their nationwide set up to work on a case, at times they may also work in collaboration with other collaborating agencies. Employing such an agency will give you a good chance to get your rightful dues.

The pros and cons of using internet banking services

Internet banking has been one of the most popular services of banking that is used by customers all over the world. Most individuals do not have the time to constantly visit the bank for various purposes. Internet banking services have simplified the process providing easier access for the customer.

The advantages of using internet banking services in India are:

1. Simple setup

The website is set up in an easy to understand manner for the customer. The website is designed to ensure that the customer can use it with ease and not require any assistance from the bank. One of the goals of setting up a banking website is to allow customers to get their bank work done in a matter of seconds from anywhere in the world.

2. Ease of paying bills

One of the biggest advantages of internet banking services in India is the option that allows customers to pay their bills online. Most individuals do not have the time to pay their bills as they are working. In this fast paced world the option of being able to pay one’s bills with a simple click of a button is convenient for the customer and also ensures that the bills are paid on time. Some banks also allow the customer to activate automated recurring payments where in the bills are paid directly.

3. Compatible with mobiles

All internet banking services are compatible with an individual’s mobile phone. This has not only made the entire banking process convenient but allows one to access their bank services from anywhere in the world.

4. 24 hour services

Another benefit that internet banking services provide is 24 hours service. One can access any type of banking services at any time. This allows one to also pay their bills at any point of time without incurring any problems.

The disadvantages of using internet banking services in India are:

1. Security

One of the biggest concerns of using internet banking services in India is the risk of security. The number of cybercrimes has been on the rise in the past couple of years. Hence it is extremely important for individuals to ensure that they do not disclose any of their banking details online on unsecured websites.

2. Transaction issues

There are some occasions where it is important for a customer to meet a banking representative face to face. Some complex transactions may confuse an individual and cause problems. In such cases, the bank is not able to provide the individual with the required information and advice. This is a concern that is constantly faced by banks.

Overall internet banking services in India has become revolutionary service for its customers. The ease of use and the promise of 24 hour services is a big advantage which customers have readily made the most of.

Investment Banking Jobs-Skills and Employment Opportunities

A career in investment banking is considered asone of the most lucrative and paramount career choices for the students. One of the common myths associated with the investment banking jobs is that you have to be from a finance or business background to land in one of those. Instead, nvestment bankers hail from all types of educational backgrounds and regions.

Investment banking Industry’s increasing relevancy in the global economy and the fact that it guarantees long term employment has lured many people to pursue a career in it. Investment banks assist people to raise money through two ways-Initial Public Offerings (IPOs) and debt offerings. IPO’s are offered when shares of the company are sold to the general public for the first time. On the other hand, debt offering is presented to private investors for selling it at a fixed rate of interest, allowing companies to collect money without adulterating the ownership of the shareholders alike IPO’s.

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Source:spotlightoncareers

What are the top skills of an investment banker

Anything that involves money is crucial by default. Investment Banking is an attractive career option, especially for recent graduates or professionals with a few years of experience. However, you must not ignore the cutting edge competition in the job market. With every aspirant ready to go that extra mile, for investment banking jobs, you need to arm yourself with industry specific skills and in-depth knowledge so as to differentiate yourself from the crowd. Investment banking employers seek high academic achievement, outstanding communication skills and internships in good companies. Some of the important skills that will help you to grab a job with industry leaders are mentioned below-

Solid domain knowledge

Ability to work under pressure

Complete tasks within stringent deadlines

Excellent analytical skills

Entrepreneurial

Relationship Building

Natural flair for finance and related disciplines

Employment Opportunities

Investment Banking jobs involve working with corporations, govt and other asset management companies. Typical employers include global investment banks, investment department of the large commercial banks or in smaller, regional boutique banks. You will find various graduate schemes available with the investment banks. A day in the life of an investment banker would involve typical work like financial modelling, working through deal memorandum, putting together pitchbooks and so on.

Top investment banks in India are listed below-

Bank of America

Barclays Bank Plc.

B.N.P Paribas

Citi Banks

Credit Suisse A.G

Deutsche Bank

J.P Morgan

Kotak Mahindra Bank Limited

The Hongkong and Shanghai Banking Corporation

Yes Bank Limited

Two of the common entry level positions include-analysts and associates. Moreover, most treat investment banking jobs as a stepping stone to big league jobs in Private Equity, Hedge Funds and Venture Capital.

Final Say

If the fast paced, competitive, deal-driven world of banking fascinates you and don’t mind putting your social life on hold, then investment banking can be an ideal career option. Just follow your instincts and comprehend the industry dynamics, may be you can bring the next wave of revolution in the sector.