Free learning pathL0–L4

Investment banking analyst

From financial statements to valuation, transactions and technical interviews.

An entry-level learning direction with educational tasks; check target-role requirements.

Practice setWork-sample templateJobs, resources and experiences

Your learning checklist

Required items: 0 / 10 completed or already known

Device storage

Next: Read a role through its responsibilities

Checklist statuses are self-reported; exercise scores are recorded separately. You can reset any item.

L0

Know the role

  1. Read a role through its responsibilitiesRequired

    Translate a role description into three observable learning goals.

L1

Build foundations

  1. Spreadsheet formulas and reconciliationRequired

    Build a sourced calculation table with an independent check.

  2. Statistics, samples and uncertaintyOptional

    Describe a distribution and its limits of inference.

  3. Financial statement linksRequired

    Independently: Draw the difference between revenue recognition and cash collection.

  4. Business driversRequired

    Independently: List price, volume, margin and working-capital drivers for a fictional retailer.

L2

Develop core skills

  1. Forecast assumptionsRequired

    Independently: Build three-year revenue/cost forecasts with base and downside cases.

  2. Discounted cash flowRequired

    Independently: Discount two periods of cash flow and state terminal assumptions separately.

  3. Trading comparablesRequired

    Independently: Compare three fictional EV/EBITDA multiples and explain differences.

L3

Practise scenarios

  1. Research, citation and argumentRequired

    Write a sourced analytical paragraph with limitations.

  2. Transactions and financingRequired

    Independently: Write a one-page acquisition rationale, funding plan and diligence questions.

  3. Technical explanation and model reviewOptional

    Independently: Explain how a higher discount rate affects present value and review signs.

L4

Build a work sample

  1. Present an inspectable work sampleRequired

    Submit a work sample with method, results and reflection.

Try a practice set

Calculations and choices receive immediate checks. Review open responses yourself against the rubric. All examples are educational.

1. Receive 110 in one year at a 10% discount rate. What is its present value?
2. What should you check first in comparable valuation?
3. After the transactions and financing task, state one assumption, one supporting fact and one condition that would change your conclusion.

Company and valuation memo

For this company and valuation memo, bound the problem to one educational scenario. List inputs and assumptions, preserve calculations and distinguish findings from missing evidence.

Define the question, scope and success criteria of this company and valuation memo.

Record data, source links, dates, units and assumptions.

Write reproducible steps with calculations, evidence or a process map.

Separate observations, interpretation and recommendations.

List unknowns, validation steps and conditions that change the conclusion.

Work-sample checklist