Training course

Investment Banking – Analyst Training

Master the core skills to launch your Investment Banking career. Practical training designed and delivered by experienced Australian industry professionals.

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Subject Overview

This course offers comprehensive training for aspiring analysts with a focus on real-world applications, unlocking the tools and knowledge essential for success in Investment Banking.

Subject Learning outcomes

Explore the Investment Banking Landscape

Understand the different firms and divisions where you could thrive as an Analyst.

Master Financial Statement Analysis

Learn key accounting principles and analyse company financials from a strategic perspective.

Build Financial Models and Master Excel

Develop integrated 3-statement models using advanced Excel techniques, shortcuts, and error-minimisation strategies.

Learn Valuation Techniques

Apply valuation methods like DCF and trading multiples critical for your Analyst role.

Prepare for Interviews

Boost confidence with real-life interview questions, cheat sheets, and insider tips.

Create a Professional Deal Pitchbook

Combine your analysis, market insights, and strategy to produce client-ready pitchbooks for your team or interviews.

Topic learning outcomes

Module 1

Understanding the job

Before learning how to produce analysis, it is critical to understand the Investment Banking landscape. There are many different firms you could work for and many different activities within those firms. This module will provide you with enough background to have an informed idea on what you might enjoy and where you might thrive at the outset of your Investment Banking journey.

What you'll be doing day to day as an intern or graduate Analyst
Learn which Investment Banking division or specialist firm you might prefer to begin your career in
Who are the key investment banking players in Australia

On successful completion of this topic, students should be able to:

Understand what is expected for an Analyst to succeed in the job
Identify the focus areas for Investment Banking interview questions
Explain the role banks play in real life corporate situations

Module 2

Analysing Financial Statements

Investment Banking analysts need to be able to quickly assess company reporting and see the big picture surrounding the numbers. This module will help you find, prioritise and form a view on company information. You will receive a refresher course on accounting principles which are required for Investment Banking analysis and be able to interpret public company announcements and keep up with market developments.

Where to find company information
Learn basic accounting principles for Investment Banking analysis
Relationship between P&L, Balance Sheet, Cash Flow Statement
Company financials analysis spreadsheet tool

On successful completion of this topic, students should be able to:

Identify what company information is high value for Investment Banking analysis
Understand company announcements
Interpret and recreate company information
Identify the relationship between the 3 statements which is critical to modelling and forecasting

Module 3

Integrated Financial Modelling

There are excel based tools commonly used among Investment Banking Analysts. Rather than see them for the first time on the job – learn how to efficiently & effectively build and use these tools in this course. You will have templates and excel resources to take away and further develop your skills. Automation and artificial intelligence are streamlining analysis in modern times, however understanding the detail and the big picture from first principles remains critical:

General modelling best practice
3 statement modelling checklist
Practical modelling exercises

On successful completion of this topic, students should be able to:

Be able to create an integrated 3-Statement Financial Model
Understand how to create own set of forecasts
Understand the Big Picture benefits of a 3-Statement Financial Model for advising clients
Know which aspects of this analysis to focus on in interviews

Module 4

Valuation Methodology

An Investment Banking Analyst’s key contribution is to produce and interpret valuation analysis. Through this course you will understand valuation from a theoretical perspective allowing you to see the big picture around the analytical tools you produce. You will be able to follow real life corporate situations and build market knowledge invaluable for Investment Banking interviews, work and personal investment pursuits.

When to use various valuation methodologies
Understand book value and market value
Comparable trading multiples, transaction multiples, Discounted Cash Flow (DCF)

On successful completion of this topic, students should be able to:

Understand different valuation methods and the pros/cons of each
Describe the outputs of analytical tools to your team or clients
Calculate and interpret ASX company valuation metrics

Module 5

Bringing it All Together/Deal Pitchbook

Investment Banking Analysts need to bring all of their analysis together into a presentable and digestible format for their team members and clients. We’ll show you how to take the analysis and modelling you have produced throughout this course to the next level with a short deal pitchbook.

Outline company overview and market analysis
Valuation and strategic recommendations
Importance of customisation for clients

On successful completion of this topic, students should be able to:

Identify the key outputs of analysis which are of value to Investment Banks and their clients
Present key outputs in an informative format
Communicate the big picture in a way that will resonate both in interviews and on the job

Running Module 6

Interview Skills

The Investment Banking analyst interview process can be overwhelming without proper preparation. This course, designed by a professional who has excelled in interviews and another with extensive recruiting experience in this area, will help you familiarise yourself with the key topics frequently covered.

Learn Interview process structure
Access Investment Banking Jargon Glossary
Example Interview questions
Interview questions cheat sheet

On successful completion of this topic, students should be able to:

Have a deep understanding of the investment banking interview process
Feel confident and prepared when asked for interview
Have good knowledge of common interview questions and topics specific to Investment Banking

Running module 7

Advanced Excel

Minimising errors while maximising speed in Excel is crucial for Investment Banking Analysts. Mastering commonly used shortcuts and effective methods for verifying your work will give you a competitive edge. Note: this course requires a desktop keyboard with function keys and Microsoft Excel for Windows.

Learn keyboard shortcuts
Formatting principles
Formula best practice
Handy downloadable excel cheat sheet provided

On successful completion of this topic, students should be able to:

Efficiently utilise Excel shortcuts to enhance speed and efficiency in Excel tasks
Implement effective formatting techniques to improve the clarity and presentation of financial models and reports
Adopt best practices for formula creation and error-checking, ensuring accuracy and reliability in financial analysis
Comprehend techniques for minimising errors in complex Excel models, enhancing overall accuracy

Course curriculum

Download course curriculum in PDF format here.

1. Introduction

Do we need this section as well?

2. Investment Banking The Job

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3. Analysing Company Financials

4. Integrated Financial Model

5. DCF

6. Merger Model

7. Trading and Transaction Comparable

8. Deal Pitchbook

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Phillip Christopher is a finance professional known for his strong educational background and extensive experience in the industry. He earned his Bachelor of Commerce & Economics from the University of Western Australia (UWA) with a GPA of 3.95, having excelled in 32 units, including 29 high distinctions and 3 distinctions. His strong interest in economics led him to teach at the UWA Business School, where he shared his knowledge with students and realised his passion for educating aspiring finance professionals.

In 2011, Phillip began his career as an Analyst at Goldman Sachs, where he gained valuable experience working across domestic and cross border M&A/capital markets advisory for Australian natural resources and infrastructure companies. In 2014, he transitioned into the field of Private Equity with Alceon, where he specialised in mid-market investments across various sectors.

Currently, as an Investment Director with ASX listed investment group Hancock & Gore, Phillip is known for his astute investment strategies and deep understanding of the financial landscape. Phillip is a Graduate of the Australian Institute of Directors (GAICD) and is currently on the board of directors for multiple ASX listed and private companies. In 2022, Phillip co-founded xceeda, a platform dedicated to nurturing and connecting the next generation of finance talent.