[m630]

Originally Posted by M3 Number 86

But interface type reporting tools are static in terms of what you want to look up. Don't they need to be coded on the backend? That takes time and resources.

In excel modeling you can do a data dump and cut it however you want. In my field half the work is of ad hoc nature. There is no system that spit out what you want. No two analysis are the same.

You have to take the data and manipulate it. That's the beauty of excel.

Once you have the data in a lake, you can run powerful queries using the tools noted, no coding it's meant for business side use and ad hoc . At the enterprise level you would never use excel it's very inefficient and unreliable. Im talking big data analysis though, not sure what level of datasets you may be dealing with but I'm talking millions or billions of records or lines of info that don't work in excel

[MKSixer]

Originally Posted by BayMoWe335

"Crazy formulas" are usually just long, nested IF statements, etc.

The real key to Excel is being able to do the job in a concise formula. The best people I've seen in Excel have eloquent solutions to problems. The "formula gurus" always make things too complicated, increasing run times and calculations.

Long story short, long formulas usually are inefficient and the people who use them don't think outside the box well.

I'd focus on the latter. For example, having a formula with hard coated numbers = stupid (making long, complex formulas. Use tables and lookup references instead.

Besides, using Excel is for worker bees....ever notice how directors and VPs are shit at Excel to the point that can't even do a simple pivot table?

This.
One of the best I've ever seen is one if my daughters' friend and he has the people skills of a rock. If a freshman in college is a guru it may NOT be the skill one invest heavily in aside from a good working knowledge. Working to develop EQ, increase analytic abilities, and spending time with an executive coach or mentor may be better uses of time.

[M3 Number 86]

Originally Posted by MKSixer

This.
One of the best I've ever seen is one if my daughters' friend and he has the people skills of a rock. If a freshman in college is a guru it may NOT be the skill one invest heavily in aside from a good working knowledge. Working to develop EQ, increase analytic abilities, and spending time with an executive coach or mentor may be better uses of time.

There are no gurus as a
Freshman in college. Every intern says that and is shocked when they come in.

[M3 Number 86]

Originally Posted by m630

Once you have the data in a lake, you can run powerful queries using the tools noted, no coding it's meant for business side use and ad hoc . At the enterprise level you would never use excel it's very inefficient and unreliable. Im talking big data analysis though, not sure what level of datasets you may be dealing with but I'm talking millions or billions of records or lines of info that don't work in excel

Ok that's good. Yeah billions of lines no but hundreds of thousands of lines.

I've worked at the major studios across Hollywood in financial planning for the biggest distribution groups so around $3B in revenue per year.

[KingOfJericho]

Originally Posted by M3 Number 86

To all, finance is such a broad term what do you guys do?

I was Director of Performance Analytics for a large institutional investment manager focused on high yield bonds/loans for the last eight years but was recently promoted to Chief of Staff. I literally started here sorting the mail/confirming trades fresh out of school.

[Verbiage]

Originally Posted by KingOfJericho

I was Director of Performance Analytics for a large institutional investment manager focused on high yield bonds/loans for the last eight years but was recently promoted to Chief of Staff. I literally started here sorting the mail/confirming trades fresh out of school.

For how long have you been there? Extended tenure at any organization kind of makes me antsy.

[KingOfJericho]

Originally Posted by MKSixer

This.
One of the best I've ever seen is one if my daughters' friend and he has the people skills of a rock. If a freshman in college is a guru it may NOT be the skill one invest heavily in aside from a good working knowledge. Working to develop EQ, increase analytic abilities, and spending time with an executive coach or mentor may be better uses of time.

You will get nowhere in high finance without advanced excel skills. Sure, there are a rare few who shoot right out of Wharton into high positions but the vast majority of us have to work our way up and you can not do that without stellar excel knowledge. Every single job posting in my field lists excel VBA and advanced excel proficiency as a requirement - not suggestion - requirement.

[KingOfJericho]

Originally Posted by Verbiage

For how long have you been there? Extended tenure at any organization kind of makes me antsy.

December will make a bakers' dozen. They've been very good to me so no reason to make a move.

[Verbiage]

Originally Posted by KingOfJericho

December will make a bakers' dozen. They've been very good to me so no reason to make a move.

Sounds good. I'm also 25 and in the process of obtaining my BS in Business Systems and Project Management, so I figure I'll obtain something more desirable than I have now (although I am currently pleased with where I am, given the circumstances) to stick around with for a while. Congrats to you.

[Alfisti]

Originally Posted by ASAP

I would think analytical thinking, a very solid understanding of financial concepts and the ability to make rational decisions while managing people are things you would want to excel at. No pun intended

WHich can be said of almost any industry, for true career progression you move away from applying a skill set to being the guy that is paid to make the right decision more often than the other guys in the room.

Just get it right.

[csu87]

I too use excel daily and the way ive learned is by thinking of a more efficient way of building my tables, then googling to figure out how to make it work. So far, thats been working out great for me and i feel i am getting close to mastery. Over the years Ive found there isnt a lot that Excel cant do, so if you can think of it, chances are its possible.

The other way to gather a whole lot of knowledge on what excel can/cant do and how to do it, is a class like others mentioned.

[Verbiage]

Real world experience is probably the best way. Almost like learning stick in a car that you don't drive every day. It will be impossible to master until it is applied under all possible circumstances within the environment.

[BMW F22]

Originally Posted by Verbiage

Real world experience is probably the best way. Almost like learning stick in a car that you don't drive every day. It will be impossible to master until it is applied under all possible circumstances within the environment.

Agreed with you on this 100%.

[M3 Number 86]

Originally Posted by KingOfJericho

I was Director of Performance Analytics for a large institutional investment manager focused on high yield bonds/loans for the last eight years but was recently promoted to Chief of Staff. I literally started here sorting the mail/confirming trades fresh out of school.

That's awesome. Especially the part where you are treated right.

I've been at two major studios and will be finance lead at an independent tv studio doing fp&a, building systems from the ground up and providing deal analysis working directly with c-level execs. Should be challenging but fun. Start on Monday.

[fecurtis]

I've pulled exchange rates automatically on the web at the click of a button on an Excel sheet. The person who was primarily using it hated Grateful Dead so I built some functionality where it would play a randomly selected Grateful Dead video on YouTube once the exchange rates were updated.

Excel can do quite a lot of things if you know VBA, SQL, and a little bit of HTML.

Do I need to know all of that to be successful at my job? Nah not really, as others have mentioned, knowing the things that are driving your model and know the business/industry your in and your major clients well enough so that you can just get a sense of when something looks off and may need more attention.

That may just mean finding out why there was a big spike in revenue from one customer one month over the previous months and be ready to explain it when the CEO, COO, CFO or whoever asks what's going on. While cranking out cool models in Excel is useful, being the expert behind those numbers is what gets you noticed. Basically, do whatever you can to avoid answering "Let me look into that" or my personal pet peeve, when someone has time to research something and their answer starts with "I think...".

[Sidewinderpb]

Originally Posted by Verbiage

Go Skills is a nice well-rounded database for tutoring/simulations.

Actually just purchased this; really need to start building up my skill set.

It's on sale for $29 (v. $100) for 12-month access:

https://www.groupon.com/deals/goskills-2

[fecurtis]

Originally Posted by MKSixer

This.
One of the best I've ever seen is one if my daughters' friend and he has the people skills of a rock. If a freshman in college is a guru it may NOT be the skill one invest heavily in aside from a good working knowledge. Working to develop EQ, increase analytic abilities, and spending time with an executive coach or mentor may be better uses of time.

No freshman in college is a guru at Excel. They put a pivot table together and think they've mastered Excel.

[fecurtis]

Originally Posted by M3 Number 86

Yes! The best thing that comes with excel skills plus business knowledge is the ability to execute faster.

Who is the VP going to ask to put together a complex analysis - someone who can do it quickly and accurately then spot check or someone who does it manually and then needs to check over their work manually for a while.

That's how I've been able to succeed.

To all, finance is such a broad term what do you guys do?

I do FP&A in the tech industry, so lots of budgeting, forecasting, variance analysis, tons of ad hoc stuff and when required, mergers and acquisition due diligence.

[BayMoWe335]

Originally Posted by fecurtis

No freshman in college is a guru at Excel. They put a pivot table together and think they've mastered Excel.

Yeah, lol. I've seen so many "Excel expert" and "advanced Excel" resumes, I can't even take them seriously. If people say they know Excel on a resume, they don't.

Simple macros, if statement, and vlookup doesn't make you good at Excel. Like I said, knowing how to solve the problem eloquently is much better than a long formula.

Plus, there is no money in knowing Excel. I can find any computer science major from Asia (China, India) that will destroy pretty much any US graduate's Excel skills.

[fecurtis]

Since a lot of people in this thread work with Excel, I HAVE to ask this....

Who the fuck uses a vlookup and uses TRUE for the range look up field????? I have never understood why someone would use TRUE and why Excel defaults to TRUE.

[Verbiage]

Originally Posted by Sidewinderpb

Actually just purchased this; really need to start building up my skill set.

It's on sale for $29 (v. $100) for 12-month access:

https://www.groupon.com/deals/goskills-2

Great choice, I believe that's what I paid, as well. Definitely a good course to take, with lots of information.

[KingOfJericho]

Originally Posted by Sidewinderpb

Actually just purchased this; really need to start building up my skill set.

It's on sale for $29 (v. $100) for 12-month access:

https://www.groupon.com/deals/goskills-2

Can I look over your shoulder since we live in the same town? lol