Have you recently passed your class 12 examination? Are you thinking of making a switch to the commerce stream? Do you get fascinated by the word finance and everything related to it? If you do, we have to tell you that you will make a good decision if you select finance as your future career option. Lately, the finance domain has introduced several high-paying job profiles and is in high demand. The finance domain has now come up with a new area of expertise. Financial modeling has now become one of the most demanded services in the financial industry. We will delve into a comparative article on IIM SKILLS vs Wall Street Prep Financial Modeling Course and look at the distinctive features of the institutes.
Several companies are now hiring financial modeling professionals like investment bankers, equity research analysts, credit analysts, and, many more. This goes to show how much demand the financial modeling services are in. Nonetheless, in this article, we are going to state the meaning of the financial model, how companies use the financial model, the special features of IIM Skills vs Wall Street Prep financial modeling course, and, a detailed comparison of the two institutes’ financial modeling course. The article will help you decide which institute you should choose, provided you select financial modeling as your career option.
Before we start comparing the institutes’ course features, we are first going to state what is financial modeling.
What is the Meaning of Financial Modeling?
Meaning of Financial Modeling – A company goes through a procedure where it sums up its expenses and income in a spreadsheet in order to calculate the effects of future or upcoming events or decisions. A financial model is used by company executives for a variety of reasons. For instance, a financial analyst can use the financial model to forecast and examine whether executive decisions or upcoming events can affect a company’s stock performance. Events or executive actions in the future could be influenced by internal factors like changes to business models or strategies. They could also be the consequence coming from external factors like changes to economic or governmental regulations. For you to fully understand the subject, we are giving a detailed explanation of the financial model.
Here is How All Companies Use a Financial Model
A spreadsheet (Excel) is used by a company to record all of its financial operations, and, transactions, whether they took place in the past, present, or future. The models are then used as decision-making tools.
It is used by a company to approximately determine the expenses and calculate the profits of a demanded new project. It is also used to determine a company’s value and evaluate how well it performs in comparison to its rivals. Last but not least, it is used in tactical planning to assess various possibilities, estimate budgets, and calculate the costs of new projects.
Now that we are familiar with the meaning of financial modeling and have a basic idea of what it entails, it is time to begin the full comparison of the courses. Starting with IIM Skills, we will analyze the features of the institute. .
1. IIM Skills
Having established itself in 2015, IIM Skills has become India’s premium institute for studying professional courses such as GST, content writing, business accounting and taxation, digital marketing, and SEO. The institute is known for providing quality education which will help its students to bring a drastic change in their lives and careers. The institute believes that its courses should be concise and relevant, hence, it keeps a tab on what is happening in all the industries. Apart from those, IIM Skills also instills a strong belief amongst its students about the importance of building a solid portfolio that will help them to land jobs.
If you pick IIM Skills to be the course provider for the financial modeling course, then, be assured that you are equipping yourself with the latest knowledge, and, which is as per the current industry trends. If you select IIM Skills, you are helping yourself to acquire the apt skill set that is currently being demanded by the recruiters. Coming to its financial modeling course, after seeing the scope and demand for financial modeling services, the institute decided to introduce a financial modeling course. In a short span, the course has received tons of positive reviews.
IIM Skills’ Financial Modeling Course
In the last 20 years, the financial industry has seen the financial modeling industry and services grow manifolds. Hence, that forced the big companies and businesses to set up a financial model for their operations. This indicates that not just now but also in the future how the financial modeling services will continue to be most demanded by all organizations and businesses.
Knowing the growing demand for skilled workers, IIM Skills aims to fulfill that by producing skilled financial modeling professionals. Therefore, the financial modeling course serves its purpose. Enroll in this course, if you want to land job roles like equity research analyst, investment banker, financial analyst, credit analyst, and, others.
The institute has put a lot of research, time, and, thought into it before introducing the financial modeling course. The course teaches the students the basics of financial models, after which they will be able to create financial models.
The Course Has Six Modules in Total and Those Are:-
Basic and Advanced Excel
Concepts of Financial Statements and Accounting
Foundation of Financial Modeling
Numerous types of Financial Modeling
Experienced Professionals as Mentors
IIM Skills knows that the financial modeling industry is booming, and, hence, it provides its students with recent knowledge of what is currently going on within the financial modeling industry. Besides those, it also hires mentors who are currently working as financial analysts, investment bankers, or are in other roles, and have several years of experience, and, knowledge of the financial field. Apart from providing standard education, IIM Skills also offers valuable suggestions and advice to students on how to advance in their careers.
Video Recording of Live Online Class
Since it is not always possible to attend the live online class, hence, the institute has provided video recordings of the live online classes. What we are trying to say is that suppose you fail to attend a live online session, a recorded video of the same is available. Those videos can be accessed 24×7 and for a lifetime. If something is unclear to you, just in case, you can always refer back to the recorded class session, to gain a deeper understanding.
One-to-one Learning Experience
You can always ask the trainers to clear all your doubts. IIM Skills’ mentors are approachable and have the understanding that no student is alike, and, hence, they attend to every student personally. Most of the time, going through the video recordings of the live online class will help you to get all your doubts cleared. But suppose if you are still having difficulty understanding a topic or concept, you can always contact the trainers on the institute’s email id.
LMS (Learning Management System) is Accessible for a Lifetime
The learning management system is extremely simple to use and serves as an everlasting storehouse for all of the course materials and session recordings. This LMS brings together all of the lecture recordings, case studies, and practical assignments in one location to assist you in obtaining the skills necessary for several professional courses. This LMS is always accessible for free usage. Additionally, the LMS is frequently updated, and its content is updated to reflect changes to the online environment. The course content is regularly revised to include the most recent trends to provide you with the latest information.
As a result of the fact that every student is unique and has a variety of educational and professional experiences, the course’s methodology was developed with that thought in mind. The laborious yet effective training process is guaranteed through interactive live coaching. These interactive online classes encourage collaboration and critical thinking. Mentors and learners regularly interact. These online classes also offer a lively learning environment and prompt answers to any questions or confusion.
Assignments Are Practical and Provided as Per the Latest Trends
If you want to gain confidence and effectively handle difficult business tasks, you must build your skills with significant real-world project experience. As a result, the Financial Modeling course provided by IIM SKILLS has a substantial amount of practical projects to aid students in understanding all the challenging topics and chapters. The time required for these useful tasks will be considerable. You have a solid understanding of how to apply the material you have learned in the course to practical situations.
Certifications Have Been Recognized Globally and by the Industry
As you complete the course, you get a certificate that has been recognized all over the world and by the financial modeling industry. This certificate will help you team up with clients and work with them globally.
100 % Employment Guarantee
As you complete the course, IIM Skill will provide you with job placement. However, to get hired, you first have to perform well during the internship. The institute offers two types of internship programs – paid and non-paid internships. Both of the programs are for three months. The internship will serve as a perfect platform to showcase your work to the recruiters.
The above-mentioned special features of IIM Skills’ financial modeling course show why it is a big hit among the students. Statistics and numbers display the success rate of the course. This proves why the institute has received 4.9 stars out of 5, and, besides that, it also has attained a success rate of 87 percent.
More Professional Courses from IIM SKILLS
Having mentioned the special features of IIM Skills’ financial modeling course, it is now time to pen down about the same for Wall Street Prep.
2. Wall Street Prep
In the year 2004, investment bankers founded Wall Street Prep with the sole objective of providing coaching and training to financial modeling services industry employees. The institute has become specialized in providing coaching and training in the financial modeling industry, and, hence, most of the students keep this institute on their list of top institutes that offer financial modeling courses all over the world.
The institute offers eight types of courses and training which are markets sales and trading, industry-specific modeling, restructuring, modeling packages, finance and credit, accounting, finance interview prep, productivity and data analysis, and, professional skills. The institute believes that it is essential to reduce the gap between the real world and academia, and, hence, it teaches the practical skills that are required to succeed while being on the job. Their courses have been utilized by thousands of learners and employees of the financial domain. Due to Wall Street Prep’s ability to provide popular financial courses and other courses, it has managed to obtain prestigious clients like investment funds, highly ranked investment banks, business schools, and, private equity companies.
Through its online courses and instructor-guided boot camps, the institute has been able to meet the demands of corporate finance and investment banking by turning financial professionals and students into persons who can create financial models even if they are a rookie.
Wall Street Prep’s Financial Modeling Course
If you want to acquire skillsets like valuation modeling and core financial, then choose Wall Street Prep’s financial modeling course. The institute offers two types of financial modeling courses which are the premium package and the basic package. Both the packages have almost the same course contents. The only difference between the two is that the premium package has got a full modeling course. We are suggesting you go for the premium package as it contains valuation modeling. However, if you decided to purchase the basic package you are only going to learn how to create financial statement modeling and model the best possible practices.
Highly ranked investment banks and financial institutes use the same course as Wall Street Prep to train and coach their professionals. Wall Street Prep’s financial modeling course will prove to be beneficial for those who are from the commerce stream, and for those who are working as investment bankers, equity research analysts, credit analysts, and many other roles.
Select Wall Street Prep’s financial modeling course, if you want to learn all about building financial models in detail. Its course will, no doubt, help you in performing well on the job as it teaches all of its concepts, lessons, and, courses in depth. If you can grasp all the concepts, lessons, and, topics, then you will do well while you are on the job.
If you want to know how to produce financial models in a spreadsheet even when you are a beginner, then choose Wall Street Prep. Your selection will prove to be helpful in the long run as the institute uses the best possible practices and case studies which are from real life, to train its students.
Recommended For Finance Enthusiasts
Who Can Pursue Wall Street Prep’s Financial Modeling Course?
Whether you are a finance student or a financial modeling professional, Wall Street Prep’s financial modeling program would be a great choice, if you decide to choose private equity, equity research, investment banking, or corporate finance as your career option.
Wall Street Prep’s Financial Modeling Course Modules
There are six modules in the financial modeling course which are mentioned below.
Financial Statement Modeling
Trading Comps Modeling
Transaction Comps Modeling
Note, we have only mentioned the course highlights of the premium package as the basic package has the same features similar to that of the premium package.
Premium Package Features:-
Learning is Self-paced, Intuitive, and Comprehensive
The best part of Wall Street Prep’s financial modeling course package is that you can learn at your pace and is intuitive. As it course uses financial reports and Excel model template, it helps and trains the students and professionals on how to create, examine and translate financial models by taking one step after another and that too as per their efficiency. To build detailed models like they would on the job, the curriculum uses a case study format where students follow their instructional guide along with the Excel model templates and are routed to the required external documents (SEC filings, research papers, etc.).
By closing the gap between education and the real world, the premium package gives students the hands-on training that they will need to succeed in the workplace. Enrol in Wall Street Prep’s financial modeling course to achieve the confidence to master the interview round and progress in your investment banking career.
The other best part about the course is that once you get yourself enrolled in the financial modeling course, you gain unlimited and free access to the institute’s support center where you can post all your doubts and get them cleared. Moreover, the support center will also let you download free study materials and notes, and, lastly, you will receive crucial updates from the support staff who are retired and accomplished investment bankers.
Enhance Your Learning Experience by Availing Private Tutor Session
In case you think that you need to have a private training and coaching session, then you need to pay a fee amounting to $800 per hour to avail of that facility. Furthermore, the tutoring session will allow you to share models with your private tutor, other files, and, a virtual blackboard through an integrated web and mobile platform which goes all the way to improve your learning experience.
A Comparative Study of IIM SKILLS vs Wall Street Prep Financial Modeling Course
Choose IIM Skills, if you are relatively new in the financial domain, and want to pursue a career in the financial modeling industry as an equity research analyst, investment banker, credit analyst, and other eminent roles. The number one plus point of the course is that IIM Skills’ mentors are always ready to help the students, no matter whether they are employed or not. The second plus point is that the students can use the LMS at any time they want to.
Choose Wall Street Prep’s financial modeling course if you want to acquire skillsets like valuation modeling and core financials. To learn how to create financial statement modeling in-depth, go for Wall Street Prep. Since its courses, concepts, and, lessons are detailed, you will able be to perform well while you are working as financial modeling professional. Moreover, if you are a financial modeling professional like an investment banker, equity research analyst, etc, then this is the best financial modeling course. Since its inception, the institute has got many positive reviews for providing a top-quality financial modeling course. If we have to mention its financial modeling course reviews, then the institute has received 740 reviews. Additionally, Wall Street Prep has also got five out of five stars. This speaks a lot about the best quality education that the institute provides.
Frequently Asked Questions on IIM SKILLS vs Wall Street Prep Financial Modeling course
Q1. What distinguishes these two Financial Modeling courses from other available courses on the market?
Several examples of persons who were able to develop in their careers may be found in reviews written by students who have attended Financial Modeling courses. The tools that are at their disposal for students have a proven track record of helping graduates get into the careers of their choice. The training course is totally practical and simulates what it would be like to be taught as a professional financial analyst. Free career websites also offer a wealth of information. Since both of these courses extraordinarily mix all these components, they distinguish themselves from the competition in terms of providing you with the tools you need to build a prosperous career.
Q2. What job opportunities will I get after I complete the Financial Modeling course?
After completing the Financial Modeling course, a wide range of work prospects, including those for financial analysts, investment bankers, equities research analysts, and many more, are readily available in the market.
Q3.) Is financial modeling a feasible career for finance professionals?
Yes, Financial modeling is feasible and the demand for financial modelers will only increase with time.
Conclusion on IIM Skills vs Wall Street Prep Financial Modeling Course
We already studied what distinguishes these two institutes from one another. It’s time to wrap things up now. Let’s first summarize which institute will be useful for you before we do that. Although each person has their own preferences and choices, it is ultimately up to the individual to decide which provider of financial modeling courses is ideal. Only after doing a full analysis of the institutes and taking into account the costs, facilities, and mode of delivery can a decision be made. After all of that, it is time to conclude that our comparative analysis of the two schools achieved its goal, and we now hope that you will make the best decision for your career.