What information do you need to know as an aspiring investment banker? Join career-switcher and MBA student Alex Mason as we journey together to uncover the technical (including the famous "400 interview questions") and not-so-technical aspects of the investment banking profession.
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Wall Street Mastermind provides 1-on-1 coaching to students who are trying to break into investment banking, helping you land the top 1% jobs on Wall Street that pay six-figures straight out of school. It’s led by Sam Shiah, a former investment banker (Morgan Stanley Tech) and private equity investor (GI Partners). Not only have we maintained a 90%+ success rate over the years, we even offer a money back guarantee - meaning if you work with us and don’t get at least one investment banking of ...
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Joseph Stone Capital, LLC is a Full-Service Broker firm with decades of experience in helping investors innovate, transform, and lead. Joseph Stone Capital, LLC upholds a culture of powerful philosophies and unique monetary strategies. We continue to strive to exceed the demands of the investment industry with valuable insight and financial guidance, while taking the time to understand your individual needs and what matters most to you.
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This podcast focuses on questions my mom answers about how she chooses to invest her money and why, as well as what affected these decisions.
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Episode 354: Ranking The Best 10 Investment Banking Internships!
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15:03Picking the right internship early can help shape your career trajectory. In this episode, we rank the 10 best options for breaking into banking, from boutique investment banks to private equity internships and even a few surprising ones you might not have considered. If you want a real edge in recruiting, this is the episode to listen to.Want help…
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Finding Your Champion with Pete Fraser
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48:35Today we're sitting down with Pete Fraser, a former mechanical engineer who successfully pivoted to investment banking after his MBA at Cornell. Pete shares his journey from working in a steel mill in Gary, Indiana to landing a coveted position at Guggenheim in New York City. We discuss: The culture shock of MBA recruiting A cautionary tale about g…
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Episode 353: How Aidan Became One of the First Students From His Non-Target School to Break Into Investment Banking Without an MBA
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36:54Our student Aidan came to us as a sophomore athlete majoring in economics at a non-target school. He had known he wanted to do IB for a while but most of the guidance he received dissuaded him from breaking in as an undergrad. Once he saw banks beginning the recruiting process he realized he had no time to lose. Hear how Aidan stopped memorizing 40…
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Episode 352: How to Create a Resume for Goldman Sachs
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13:57If you’re aiming for Goldman Sachs or any top investment bank, your resume has to be flawless. In this episode, we break down exactly how to structure it, the key sections you need, what to include under education and work experience, and how to highlight skills that actually matter. We’ll also cover the small personal details and attention to deta…
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Episode 351: How Zolio Became the First Person From His Non-Target School to Break Into JPMorgan
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36:15Our student Zolio came to us as a non-target school student having little guidance on the recruiting process. A couple of alumni got him interested in IB, but he had little knowledge of any finance concepts or how to network. Soon after joining our program, he mastered his technicals in 4 days and learned to network efficiently to stand out from hi…
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Episode 350: "Why You're Struggling To Break Into Banking "
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13:24Breaking into investment banking is brutally competitive, yet a few common mistakes can quietly kill your chances. In this episode, we dive into why candidates struggle to get offers: the type of school you go to, the importance of networking and referrals, why GPA still matters, and how lack of technical skills and poor interview prep can derail y…
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Episode 349: Investment Bankers Are Quitting to Take These Jobs
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13:03What comes after investment banking? In this episode, we unpack the world of exit opportunities from the coveted buy-side roles to strategic positions in industry. We explore Private Equity, Growth Equity & Venture Capital, what they do, how they differ, and what kind of candidates thrive. Corporate roles, where ex-bankers drive strategic decisions…
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Episode 348: How Aakaash Stood Out Against the Highly Competitive Candidate Pool at Wharton and Got an Elite Boutique Offer
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1:03:44Our student Aakash came to us as a sophomore at UPenn who was feeling behind on the investment banking recruiting process. At the time, his friends had already lined up freshmen internships, whereas he had only recently grown an interest in banking after attending an info session. After joining WSMM, he landed his first relevant internship within a…
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Episode 347: Is Investment Banking Worth It?
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12:06In this episode, we break down the real pros and cons of life on Wall Street. From the money, prestige, exit opportunities, and steep learning curve to the gruelling hours and constant unpredictability. We explore what makes IB both a dream job and potential trade offs. Let's dive in, is it worth it for you?Want help securing an offer from a top ti…
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Episode 346: Strategies for Entry into Investment Banking
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22:43Didn’t land an IB offer right away? Don’t worry, there are multiple ways to break in. This video covers three proven strategies: starting in a similar finance job and recruiting for full-time, delaying graduation to re-recruit, and getting an MBA to enter as an associate. If your first attempt didn’t work out, there’s still a path forward. Let’s br…
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Beta measures systematic risk...great to know, but what do we do with it? In today's episode we'll walk through how to un-lever and re-lever beta based on the capital structure of a target business that you're valuing (e.g. for a DCF analysis). Contact: [email protected]بقلم Alex Mason
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How I did on the Securities Industry Essentials (SIE) exam and advice for you! Contact: [email protected]بقلم Alex Mason
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Episode 345: How Mike Got an Offer From Blackstone Private Equity and Goldman TMT
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31:48Our student Mike came to us as a sophomore at a non-target school looking primarily for investment banking and buy-side opportunities. Although he had family with a background in finance that had tried to help him prepare, many were unfamiliar with how to network effectively or about the recruiting process. He eventually spoke to a WSMM alumni and …
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Episode 344: The TRUTH about Investment Banking
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12:07Ever wondered what investment bankers actually do? This podcast cuts through the myths and hype to break down the real job,. We’ll compare IB to real estate, walk through the daily grind (yes, a lot of PowerPoint), and expose the truth behind the infamous 100 hour workweek. Plus, we’ll reveal the one secret downside they don’t tell you about: the u…
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Episode 343: How Min Secured an Offer from Lazard and Evercore From a Non Target School
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29:52Our student Minwoo came to us as a sophomore at a non-target school not knowing much about the investment banking recruiting process. After hearing a Goldman managing director guest speak at his school event, he became determined to get into investment banking. Despite being skeptical initially, he decided to join our program in search of timely gu…
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Episode 342: Banking Salaries Truths Part 2
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11:21In this episode, we go beyond the numbers to discuss the real cost of an investment banking salary, the sacrifice of work-life balance with unpredictable hours and the demanding environment. But we’ll also explore the upside, how banking accelerates your career, opens doors to top opportunities, and sets you up for higher earnings down the line. If…
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Episode 341: Banking Salaries Truths Part 1
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13:04In this episode, we break down the real numbers behind investment banking salaries, how much you earn as an analyst, associate, VP, and beyond and we’ll cover the key factors that impact pay. If you’ve ever wondered what bankers actually take home at each stage of their careers, this is the episode for you.Want help securing an offer from a top tie…
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What does beta mean in finance and what is it used for? A simple explanation. Contact: [email protected]بقلم Alex Mason
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Episode 340: How Hugh Got Offers From Morgan Stanley, Evercore, and Greenhill
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36:02Our student Hugh came to us knowing he wanted to break into IB since his freshman year. Despite finding a freshman summer internship, he felt overwhelmed with the upcoming recruiting processes for sophomore and junior year, and the pressure that came along with it. Soon after joining WSMM, we helped him gain relevant experience for his resume and t…
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Episode 339: Most Common Types of Behavioral Questions
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8:57In this episode, we walk through the most common investment banking behavioral questions and how to answer them. From resume deep dives to market related topics, we’ll help you prepare with confidence and stand out in your interviews.Want help securing an offer from a top tier firm on Wall Street?Apply here: wallstmastermind.com/applyutm_source=pod…
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Episode 338: How Peter Got 4 Offers From Bulge Bracket and Elite Boutique Banks
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42:39Our student Peter came to us as a sophomore recruiting against a competitive pool of fellow Ivy League candidates. With applications opening up and unable to find much guidance from upperclassmen, and he decided to join WSMM. Despite initially feeling behind in his recruiting process, he saved a ton of time and learned all the technicals and most o…
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Episode 337: Crafting Sharp Behavioral Interview Answers
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10:19In this episode, we cover how to stand out in investment banking interviews by answering concisely and effectively. Learn to structure responses with logic, use strong examples, and avoid over-explaining, so every sentence counts.Want help securing an offer from a top tier firm on Wall Street?Apply here: wallstmastermind.com/applyutm_source=podcast…
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Quick NVIDIA Comps Analysis (Capital IQ)
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6:29Today we're performing a quick comparable companies analysis for NVIDIA in Capital IQ. We'll walk through how to create the set of comparable companies and get to the point of being able to compare trading multiples for similar firms. Contact: [email protected]بقلم Alex Mason
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Episode 336: How to Master Key IB Technicals
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8:50In this episode, we dive into the four key areas of investment banking technical interviews—financial statements, valuation, M&A, and LBOs. We’ll walk you through each topic, explaining how they build off one another and why mastering them in this order is crucial. Want help securing an offer from a top tier firm on Wall Street?Apply here: wallstma…
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Episode 335: How Jacob Got 6 Superdays and 2 Offers Despite Being a Non Target Student
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49:02Our student Jacob came to us as a non-target school student not knowing much about the investment banking recruiting process or having a strong alumni network to reach out to. After trying to memorize interview guides and having multiple ineffective networking calls, he and his mom became convinced that WSMM could help him optimize his process. Hea…
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IB Journey Update and Networking Thoughts
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9:35Today I'll give a quick update on where I'm at in my journey, and share some insights I've learned talking with a several of you! Contact: [email protected]بقلم Alex Mason
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Episode 334: Understanding the Interview Process - Part 1
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13:21In this episode, we break down the key steps of the interview process and how to prepare effectively. From submitting your application to handling final-round interviews, we’ll cover what to expect and how to make a great impression. We’ll also share essential pre-interview tips. Whether you're preparing for a virtual screening or an in-person inte…
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Episode 333: Common Technical Interview Mistakes
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9:54In this episode, we explore common pitfalls candidates fall into during investment banking interviews. We discuss the importance of addressing questions in the right sequence, especially when it comes to the three financial statements and the need to ask for missing information to provide the most accurate and thorough answers. Tune in to learn how…
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AI's a big buzzword these days, but it's worthwhile to think about how artificial intelligence is going to impact our work as investment bankers. While I don't think we'll be out of a job, I strongly believe the nature of our work as advisors is changing, and we'll be expected to do much more, as sophisticated tools allow us to expand our productiv…
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Episode 332: How Leonardo Went From Being a Community College Transfer to a Bulge Bracket Banker
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34:22Our student Leonardo came to us as a community college transfer without any finance experience. With so much information out there, he was unsure about joining our program initially but eventually decided to take the plunge.After joining, we quickly worked on building his resume, finding him relevant experience, and teaching him how to leverage his…
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Episode 331: Understanding the Interview Process - Part 2
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16:00In this episode, we focus on the key skills needed to communicate effectively and make a strong impression during your interviews. We’ll cover the importance of body language, active listening, and how to talk about your experiences. Learn how to craft concise and compelling answers while highlighting your strongest traits. Tune in for practical st…
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Recruiting Trends and Strategies with Jason Lum
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24:55It's my pleasure to welcome Jason Lum back on the show to talk about recruiting trends and strategies to help you stand out (particularly if you go to a non-target school). We discuss what's going on in the market right now and specific actions you can take to make progress toward success! Looking for one-on-one help with the recruiting process? Ja…
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Episode 330: Calculating LBO FCF's and Debt Repayments
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10:22In this episode, we break down how Free Cash Flow is calculated in an LBO and why it matters for debt repayment. We discuss the key components of FCF, the difference between levered and unlevered FCF, and how companies prioritize different types of debt repayments. Tune in for a practical framework to understand cash flows in LBO transactions.Want …
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Episode 329: How Jacqueline Secured a Bulge Bracket Offer as an International Student in Just 2 Months While Having a Crazy Schedule
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25:41Our student Jacqueline came to us as an international student from Hong Kong. Being in her school's business program, she wanted a competitive edge over the competition in her class. While balancing a crazy schedule with her business fraternity's pledging process and school work, she focused on dedicating any remaining free time to recruiting. Hear…
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M&A Accretion Example (Capital One and Discover)
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17:56Last week we talked about the Capital One and Discover deal going on right now, and I thought it would be a great opportunity to explore how the math might look for a deal like this. We'll go over a simple merger model that I put together in Excel. Contact: [email protected]
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Episode 328: Tricks for Calculating and Increasing IRR
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11:43In this episode, we break down key strategies and mental shortcuts for calculating the IRR—essential for interviews. We’ll discuss how optimizing leverage, improving operational efficiency, and managing cash flows can help enhance overall returns.Want help securing an offer from a top tier firm on Wall Street?Apply here: wallstmastermind.com/applyu…
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Episode 327:How Li Leveraged His Legal Background to Secure Multiple Restructuring Offers
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26:43Our student Li came to us with mostly legal experience but had grown interested in restructuring. Without having much guidance, he knew he needed help in his recruiting process if he wanted any chance at breaking into investment banking. After joining WSMM, we helped him master the unique technicals asked by restructuring groups while leveraging hi…
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Capital One Acquires Discover Financial (Deal Pitch)
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13:15Capital One has decided to acquire Discover Financial, a big deal in the financial services space. Today we discuss the basic elements of the deal, including purchase price, consideration, and rationale. Contact: [email protected]بقلم Alex Mason
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Episode 326: Additional Behavioral Questions and Brainteasers
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9:38In this episode, we focus on tackling additional behavioral interview questions, including those about leadership qualities, your favorite book, and what you do for fun. While these may seem simple, they shouldn’t be taken for granted. We also dive into strategies for approaching brainteasers and handling those tricky, least favorite questions with…
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In this episode, we break down what IRR is and why it’s a critical metric in an LBO model. We explore how it measures the profitability of an investment, why it’s a key benchmark for private equity firms, and what factors influence it. Tune in to get a deeper understanding of its importance in an LBO and follow along as we walk through the steps to…
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Episode 324: How Bruce Went From Total Non-Target Graduate With No Finance Experience to Real Estate Private Equity
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52:51Our student Bruce came to us as a recent graduate, juggling a full time job during the week and two security shifts on the weekend. He had gone to a non-target school with only 500 students, and had missed any chances of getting internships or relevant experience as an undergrad. Determined to break into investment banking, he joined our program an…
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Episode 323: Additional Behavioral Questions Practice
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11:47In this episode, we break down how to tackle those less common but equally important behavioral interview questions that often catch candidates off guard. We cover how to craft thoughtful answers to questions like what motivates you, how you approach unexciting tasks, and where you see yourself in five years. Tune in to learn how to navigate these …
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FINRA Requirements for Investment Bankers
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7:48After you get the internship and secure the return offer, what's next? To get licensed as an investment banker, you have to take a few tests....bummer right? Don't worry, these are standardized exams that will draw on a lot of knowledge you've already been learning. Let's dive into exactly what these tests are so you know how to approach them when …
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Episode 322: Types of Debt Deeper Dive
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13:10In this episode, we dive deeper into the distinctions between bank debt and high-yield debt. We go through how these financing options differ in terms of maturity, repayment structures, security, and types of covenants. For a further understanding into incurrence vs. maintenance covenants, this episode will breaks it all down. Tune in to gain a cle…
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Episode 321: How Jesus Became the First Student From His Non-Target School to Get Into Carlyle
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39:12Our student Jesus came to us from a non-target school that sends less than 5 people into investment banking each year. Prior to WSMM, he submitted 50 applications and couldn't get any interviews. After working with us, he secured his first internship within just 1.5 weeks. Hear how he ultimately finished his recruiting process by becoming the first…
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Happy 2025! Every now and then it's good to zoom out of the small details of recruiting and understand what's going on in the broader industry. Here are are some fast facts and figures about how the IB industry did in 2024...and my thoughts for what's to come this year! Contact: [email protected]…
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Episode 320: Questions to Ask the Interviewer
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7:16In this episode, we cover the importance of asking thoughtful questions at the end of an interview, a key way to demonstrate your interest in the firm and connect with your interviewer. We walk through three general types of questions you should keep in mind: questions about the interviewer’s background and experiences, questions seeking their advi…
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In this episode, we break down the different types of debt used to finance an LBO deal. We touch on the key differences between bank debt and high-yield debt, including interest rates, repayment terms and covenants. Tune in to understand how these debt options and considerations help structure successful LBOs. Want help securing an offer from a top…
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Episode 318: How Advik Broke Into Investment Banking as a Non-Target International Student With WSMM After Failing on His Own
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48:34Our student Advik came to us as an international student in his junior year after having already deferred his graduation so that he could recruit again. Coming from a non-target school, he struggled to find much guidance at school and was slowly losing hope in his long-time dream of breaking into investment banking. Hear how our program helped him …
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Episode 316: Understanding Sources and Uses in an LBO
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16:32In this episode, we break down the critical concept of sources and uses in a Leveraged Buyout (LBO). We discuss key considerations like determining how much debt the deal can sustain, assessing valuation methodologies, and ensuring that sources and uses balance. Tune in to understand how this fundamental framework underpins every successful LBO tra…
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