While you won’t work with actual clients, you will work with real-world data in some of these job simulations, giving you unique insights into what investment bankers do and how they do it!<\/p>\n\n\n\n
Why Should You Do an Investment Banking Job Simulation?<\/h2>\n\n\n\n
In addition to allowing you to try your hand at investment banking, completing an investment banking job simulation unlocks features you won’t find anywhere else!<\/p>\n\n\n\n
First, these investment banking job simulations are sponsored by top investment banks<\/a>. We work with them to create a job simulation that’s remarkably similar to what you’d do in an investment banking internship or job.<\/p>\n\n\n\n >>RELATED:<\/strong> How to Get an Investment Banking Internship<\/a><\/p>\n\n\n\n Second, because these investment banks are invested<\/em> (no pun intended!) in the program, completing a job simulation demonstrates you’re interested in the company and an investment banking career. While we can’t guarantee anything, this could give you an edge in the hiring process.<\/p>\n\n\n\n And finally, when you complete an investment banking job simulation, you’ll unlock a resume snippet and talking points about what you accomplished that you can tailor for your personal use throughout your job search.<\/p>\n\n\n\n >>RELATED:<\/strong> Learn more about the advantages of enrolling in a Forage virtual job simulation<\/a>.<\/p>\n\n\n\n Here are seven top investment banking job simulations available right now on Forage, listed alphabetically. As you look these over, keep in mind that each task may have several subtasks. That subtask could be anything from downloading a document to reading over a lengthy agreement. <\/p>\n\n\n\n Hours<\/span><\/strong> Tasks<\/span><\/strong> Skills<\/span><\/strong> Build the practical technical and soft skills you’ll need as an investment banker. You’ll learn how to build relationships, analyze information, and present your recommendations like a pro. In this virtual job simulation, you’re working on Bank of America’s Technology, Telecom & Media team servicing your U.S. client, Webflix, a subscription streaming service.<\/p>\n\n\n\n Hiring alert! Bank of America applications for Global Investment Banking Summer Analyst Program<\/a> – 2025 are still open!<\/p>\n<\/div>\n<\/div>\n\n\n\n In the first task, you’ll learn how to conduct a SWOT (strength, weakness, opportunity, threat) analysis and understand how it helps you analyze the competition. Then, you’ll create a financial summary using a 10-K<\/span>.<\/p>\n\n\n\n Your supervisor has given you a list of potential M&A targets for Webflix. Your task is to analyze the data and select the best M&A target for your client.<\/p>\n\n\n\n In this task, you’ll learn how discounted cash flow<\/a> (DCF) is used to value targets and more about a sensitivity analysis. You’ll calculate the implied equity and share value for a competitor using DCF, construct a sensitivity table, and share your findings. <\/p>\n\n\n\n In the next task, you’ll learn what a company profile is, how to create one, and how investment bankers use it to inform their decisions. You’ll create a chart about the selected target’s EBITDA<\/a> and summarize your findings for your supervisor.<\/p>\n\n\n\n Investment banking is much more than just crunching numbers. Building and maintaining relationships is a crucial part of any investment banker’s success. In the final task, you’ll create a voicemail script for your supervisor that helps her set up a meeting with a future client.<\/p>\n\n\n\n >>MORE:<\/strong> Learn more about internships at Bank of America<\/a> and what it’s like working at Bank of America<\/a>.<\/p>\n\n\n\n Hours<\/span><\/strong> Tasks<\/span><\/strong> Skills<\/span><\/strong> Citi investment bankers help clients with operational needs (like payroll and billing), raising money, and providing insights and advice to guide their clients through all kinds of economies.<\/p>\n\n\n\n In the first task, you’ll dive into company profiles and learn why they’re essential in investment banking. You’ll review data about Best Buy and create a company profile to present to your supervisor.<\/p>\n\n\n\n Next, you’ll learn how to estimate and forecast revenue and expenses and how and why these play a role in valuation<\/a>. Using a simple income statement model, you’ll build a five-year forecast in Excel.<\/p>\n\n\n\n In this task, you’ll learn what a comparative company analysis (AKA spreading comps) is and how to conduct one. As part of the task, you’ll learn where and how to find third-party information to enhance your analysis.<\/p>\n\n\n\n In the final task, you’ll summarize key information for decision-makers. Your client is asking Citi to help with the M&A of a target company. You’ll review the information, then write a brief summary of the target’s growth strategy.<\/p>\n\n\n\n >>MORE:<\/strong> Citi Internships Guide: Programs and Application Tips<\/a><\/p>\n\n\n\n Hours<\/span><\/strong> Tasks<\/span><\/strong> Skills<\/span><\/strong> In Goodbody’s Corporate Advisory: Investment Banking virtual job simulation, you’ll learn more about the field of corporate advisory. Working as a corporate finance analyst, you’ll discover how investment bankers access capital, execute strategic transactions, and help their clients succeed.<\/p>\n\n\n\n In the first task, you’ll learn about the difference between debt and equity, common sources of capital funding, and different methods for valuing a company.<\/p>\n\n\n\n In the next task, learn more about the different types of mergers and acquisitions and why companies use M&A to grow. You’ll also learn more about the advantages and disadvantages of valuation methods, then create a DCF in Excel.<\/p>\n\n\n\n In the third task, you’ll learn more about what initial public offerings<\/a> (IPO) are and why companies pursue them. Using real-world data, you’ll analyze why one company went public while another one went private and write a memo to your supervisor about what you learned.<\/p>\n\n\n\n Finally, you’ll learn what comparable transactions and comparable company analysis<\/a> are and how to use them. You’ll investigate possible M&A targets for your client, CRH, and create a deck summarizing your findings on whether or not company ABC is a suitable target.<\/p>\n\n\n\n Hours<\/span><\/strong> Tasks<\/span><\/strong> Skills<\/span><\/strong> In this investment banking job simulation, you’ll help your client, WorldWide Brewing, expand into Asian markets using M&A.<\/p>\n\n\n\n Hiring alert! JPMorgan Chase is still looking for interns<\/a>!<\/p>\n<\/div>\n<\/div>\n\n\n\n Start by meeting your client and learn how to find the best M&A targets for them, considering strategic, financial, and structural perspectives. Using information from your team, you’ll analyze the five target companies and determine if they are suitable targets or not.<\/p>\n\n\n\n In the next task, you’ll learn more about company profiles, how investment bankers use them, and how the auction process works. Then, you’ll create a company profile for HappyHour Co. using Excel charts with the company’s key financials, valuation, and shareholders.<\/p>\n\n\n\n In task three, you’ll learn how investment bankers use DCF models to value targets and build a DCF model for HappyHour Co.<\/p>\n\n\n\n Finally, you’ll learn how the unexpected can impact your DCF model. You’ll revise your model to account for a plant fire and possible competitor bid. After updating your model, you’ll write an email to your supervisor with your revised updated valuation and an explanation.<\/p>\n\n\n\n >>MORE:<\/strong> Learn what it’s like working at JPMorgan Chase<\/a> and about JPMorgan Chase internships<\/a>.<\/p>\n\n\n\nTop 4 Investment Banking Job Simulations on Forage<\/h2>\n\n\n\n
1. Bank of America Investment Banking<\/h3>\n\n\n\n
4-5 <\/p>\n\n\n\n
5<\/p>\n\n\n\n
\u2022 SWOT analysis
\u2022 DCF
\u2022 Valuation
\u2022 M&A screening<\/p>\n<\/div>\n\n\n\n![\"\"](\"https:\/\/theforage.wpengine.com\/wp-content\/uploads\/2023\/04\/navy-gem.png\")
<\/figure>\n\n\n\nForage Find<\/h3>\n\n\n\n
Task 1<\/h4>\n\n\n\n
Task 2<\/h4>\n\n\n\n
Task 3<\/h4>\n\n\n\n
Task 4<\/h4>\n\n\n\n
Task 5<\/h4>\n\n\n\n
2. Citi Investment Banking<\/h3>\n\n\n\n
5-6 <\/p>\n\n\n\n
4<\/p>\n\n\n\n
\u2022 Valuation
\u2022 Forecasting
\u2022 Modeling
\u2022 Enterprise value<\/p>\n<\/div>\n\n\n\nTask 1<\/h4>\n\n\n\n
Task 2<\/h4>\n\n\n\n
Task 3<\/h4>\n\n\n\n
Task 4<\/h4>\n\n\n\n
3. Goodbody Corporate Advisory: Investment Banking<\/h3>\n\n\n\n
4-5<\/p>\n\n\n\n
4<\/p>\n\n\n\n
\u2022 M&A
\u2022 IPO
\u2022 Valuation methods
\u2022 DCF<\/p>\n<\/div>\n\n\n\nTask 1<\/h4>\n\n\n\n
Task 2<\/h4>\n\n\n\n
Task 3<\/h4>\n\n\n\n
Task 4<\/h4>\n\n\n\n
4. JPMorgan Chase Investment Banking<\/h3>\n\n\n\n
3-4<\/p>\n\n\n\n
4<\/p>\n\n\n\n
\u2022 M&A
\u2022 DCF
\u2022 Modeling
\u2022 Company analysis<\/p>\n<\/div>\n\n\n\n<\/figure>\n\n\n\nForage Find<\/h3>\n\n\n\n
Task 1<\/h4>\n\n\n\n
Task 2<\/h4>\n\n\n\n
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