Is Investment Banking Institute legit?

Meeeee too wrote:

<quoted text>
So can you tell me if the IBI course was worth it?

Meeeee too wrote:

< Yes> Yes
So can you tell me if the IBI course was worth it?

Jim wrote:

I have just finished the Investment Banking Training with IBI and I think it's the best thing I could have done for my career. The class was taught by a veteran banker who made an extra effort to make sure everyone in the class participated and learned the material. One of the directors helped me with my resume and I know it made a difference.
I had one interview before the class even finished and another coming up next week. I would never have been able to answer the questions I was asked in my first interview if not for this training. I know 3 people from my class who have already gotten job offers as a result of the training.
Obviously if you are already a banker and have experience with deals like the guys who teach this, you probably don't need it. If you search the web, there are other companies that do this, this is just the one I chose to do.

Sid wrote:

<quoted text>Hello Jim,
I read your post, I am from Dallas and have been thinking of joining this course. Currently I am working in Banking but want to get into I- Banking. Three questions----
-- Did you fly every weekend for the course while keeping your current job -- because that is the only way I can think of doing this course.
-- When people say --the instructor brushes past stuff -- how fast paced is it.
-- This might sound a little off hand--- since you are in Addison,can we met in person, I'll buy you lunch. Just want to get more insight if you can spare some of your valuable time.Thanks.

Meeeee wrote:

Well, I signed up tentatively, and think this may be alright. Firstly, the location is certainly legit (the Helmsley Building is what is gloriously framed by the MetLife building at the mid-town base of park ave. pretty premium stuff)
aside from that, it is probably harder to scam people outright, in this respect, than to simply mindlessly emulate the training programs i-banks universally dispense to junior analysts and charge a hefty fee for reproducing it in condensced for to us heathen.
I personally have ways to break into i-banking, but i simply hope this will give me the basic skills necessary to do the job. i don't see this as a respectable resume stuffer (i don't need those), but i can only hope they can make good of their promise and build real job skills. something like this certainly doesn't have the legitimacy to land you an analyst role in goldman, say, but it could lend you a good talking point on an interview, maybe. after all, if you are familiar with the practical aspects of the job, you can simply fulfill the role.
regarding the number crunching comments-- this company promises to make you capable of fulfilling a junior analyst role in an i-bank. coincidentally, number crunching and excel model building are exactly the things that such junior analysts do.
i remain cautiously optimistic about this program. i do have industry exposure, and i can deal with the pace of it, if it is indeed fast paced. otherwise, i see more reasons to do it than not. if someone would like to challange me on this point, i welcome the insight. my money is riding in it, after all.
anyone care to comment?

Jim wrote:

I have just finished the Investment Banking Training with IBI and I think it's the best thing I could have done for my career. The class was taught by a veteran banker who made an extra effort to make sure everyone in the class participated and learned the material. One of the directors helped me with my resume and I know it made a difference.
I had one interview before the class even finished and another coming up next week. I would never have been able to answer the questions I was asked in my first interview if not for this training. I know 3 people from my class who have already gotten job offers as a result of the training.
Obviously if you are already a banker and have experience with deals like the guys who teach this, you probably don't need it. If you search the web, there are other companies that do this, this is just the one I chose to do.

Wats Up wrote:

I just paid the deposit of 250. I think the course is worth 2500 if you want your foot in the door. If you decide to go through me for the course I might be able to get you some discount. Let me know

Informed wrote:

Having been in the investment banking industry I don't think any training company can outright get you a job, but they definitely can give you a leg up.
Something that no one has mentioned, but that is really important to consider, is what company is actually training the people that get into finance once they are on the job. I know that Training The Street did my training and most of my friends in the industry have been trained by them.
If you are thinking about training with IBI you may want to consider Training The Street's evening program instead. I know they are launching something new on April 7th.
If you talk to anyone in the industry they are the best! They teach you the same material that you learn once you are on the job.
I've seen IBI’s materials and know that Training The Street's stuff is much, much better.
Take it from me, if you're going to drop over $2,000 to get a leg up for a career in finance then definitely train with Training The Street. Check out the right hand side of their home page www.trainingthestreet.com for information about all their open enrollment classes.
Hope this helps!

QRM wrote:

I have been in investment banking for 8 years and am currently a VP at an M&A firm in L.A. I can tell you it is a quirky industry. 95% of all deals are transacted by just the top 100 firms, there being about 2000 firms currently at there. Most firms recruit analysts directly from top tier schools...but (here's the quirkyness) anyone can apply! Science, computer and, obviously, business students are the most in demand, but I would recommed an internship in both your junior and senior years in college, preferrably at different banks, to get some contacts.
I probably wouldn't attend any special I-Banking courses but did buy and learned a lot from the course by wallstreetprep.com that I used just to understand what the heck 'financial modeling' and 'business valuation' was. The program really helped me in that I did it before interviewing and entering the Analyst Training Program and was better able to keep up. Anything to get a leg up!!!
I can tell you to go after EVERY firm because it is competitive (one guy in my class had his degree in Chemical Engineering from Berkeley, his MBA from Columbia, spoke 8 languages AND was only 25 years old)! But don't give up because I only had my BS in Management from Pepperdine when I got in.
Be expected to work 100+ hour weeks for at least 3 years and be moved to one of four locations (if you can't move DON'T apply!): New York, Atlanta, Chicago, Los Angeles/San Francisco. And have an idea of 2 or 3 industry groups you would like to go to work for as that will help. Know all the industry groups WELL (see Hoovers) and be ready for many obscure questions in the interview process, such as "what would you do if" and number/reasoning questions like how many times would you have to fold a piece of paper, that doubled in thickness, until it reached the moon?...I told you, obscure. But they interviewer are really just trying to get at your ability to think on your feet and your reasoning faculty...and how well you can handle pressure.
The work is VERY focused and specific and you are ALWAYS under intense time pressure. Everything is VERY 'Proprietary' so you MUST ALWAYS KEEP YOUR MOUTH SHUT or risk getting fired for divulging confidential information or risk going to jail for 'insider trading'(in the instance of public companies). You will make a lot of money but NEVER have the time to spend it. You will not have a life for at least 5 years and most people are out of the industry by then because it's just too much...but if it sounds like fun...it is. You will learn how to value, structure, spin off, divest, acquire and grow a company...all in the same day! And no one will EVER be able to outsmart you in a business related transaction...not a lawyer, a CPA or the head of a Fortune 50 company because you just know the ins and outs too well.
I hope this has helped a bit!
Good luck!