IndustryInvestment bankingInvestment bankingSales and tradingPrivate equityHedge fundsEquity researchAsset managementPrivate creditQuant tradingCorporate developmentConsultingVenture capitalB passedA in progress80% on a quiz passes a level

1. 1Finance foundationsThe ideas everything else in banking sits on: money has a time value, risk sets the discount rate, and profit is not the same thing as cash. Start here if you have never taken a finance class.4 basic and 3 advanced lessons, 28 cards, first lesson free62 min of readingBA
2. 2AccountingThe three statements line by line, how they connect, and how to walk any change through all three without losing the balance. Every technical round starts here.4 basic and 3 advanced lessons, 26 cards, first lesson free70 min of readingBA
3. 3Enterprise and equity valueWhat a company is worth to its shareholders versus what the whole business is worth, how to bridge the two, and the trap questions built on the difference.3 basic and 3 advanced lessons, 24 cards, first lesson free55 min of readingBA
4. 4Valuation: comps and precedentsHow bankers put a value range on a company by looking at what similar companies trade for and what buyers have paid, and how to defend the range when someone pushes.3 basic and 3 advanced lessons, 24 cards, first lesson free59 min of readingBA
5. 5DCFBuild a discounted cash flow from the ground up: free cash flow, the discount rate, terminal value, and the walk to a share price. Then learn which inputs actually move the answer.4 basic and 3 advanced lessons, 26 cards, first lesson free62 min of readingBA
6. 6Merger modelsWhy companies buy each other, how the deal is paid for, and the math bankers run first: accretion and dilution, goodwill, synergies, and the exchange ratio.3 basic and 3 advanced lessons, 25 cards, first lesson free53 min of readingBA
7. 7LBOsHow a buyout is paid for, how the debt gets repaid, and where the returns come from. The model every PE recruiter expects you to sketch on a whiteboard.3 basic and 4 advanced lessons, 26 cards, first lesson free61 min of readingBA
8. 8Markets and productsWhat the markets are, how a bank gets paid in them, and why rates and spreads decide how many deals get done. Ends with the 60 second deal answer every first round asks for.4 basic and 3 advanced lessons, 26 cards, first lesson free62 min of readingBA
9. 9Formula sheetEvery formula on one page, and as flashcards.F