IIM SKILLS vs Wall Street Prep Financial Modeling Course – The Ultimate Guide

Here is an ultimate guide for you that will help you to choose between the financial modeling course offered by IIM SKILLS vs Wall Street Prep. Before choosing any type of course we must go through all the course details carefully and choose the course that is suitable for us in terms of course contents, fees, course duration, placement support, option to study online or offline, eligibility criteria, and many more. Financial Modeling is one of the most sought-after courses in the finance/accounting sector and anyone who wants better career opportunities must opt for the financial modeling course. So, let us begin our discussion.

 

IIM SKILLS vs Wall Street Prep Financial Modeling Course (2)

 

Before moving to the discussion between IIM SKILLS vs Wall Street Prep Financial Modeling Course let us see the reasons for financial modeling becoming so popular nowadays.

 

Why Study Financial Modeling?

Financial models have become one of the most crucial aspects of an organization for its decision-making process. With the increased need for financial modeling judgments, the requirements have also risen for the persons with the required skills and capabilities who can understand and analyze the models systematically.

 

Individuals entrusted with the responsibilities of preparing and analyzing financial models should possess a basic understanding of the concept and the steps involved in the financial modeling process.

 

A good course on financial modeling should have modules that include basic financial modeling principles, best practices in financial modeling, and basic to advanced knowledge of excel and its related functions that are most frequently used in models. In this article, we have tried to present a comparison between IIM SKILLS vs Wall Street Prep Financial Modeling Course so you can choose the right course keeping in mind all the points.

 

What Are the Highlights of a Perfect Financial Model?

The most important point in a financial model is that it should be trustworthy yet flexible. Flexible in the sense that with the changing scenarios, the business numbers keep changing. So, the model should allow for the changes. If a model does not support any changes in the previously entered numbers, then that model cannot be considered a good financial model that can be relied upon by the organizations.

 

There are different types of models that you can prepare and study and each model has its own set of solutions and is used for specific purposes.

 

Now let us move to our topic of the day – IIM SKILLS vs Wall Street Prep Financial Modeling Course and start by knowing both the institutes.

 

About The Institutes – IIM SKILLS vs Wall Street Prep

Let us begin with our first point and know something about the institutes. Before choosing between IIM SKILLS vs Wall Street Prep Financial Modeling Course, we must understand something about the institutes. We begin with IIM Skills.

 

1. IIM Skills

IIM Skills has delivered 2500+ sessions of training to its students. IIM Skills is an institute that offers professional online classes for various courses and its headquarters are based in New Delhi, India.

 

All the courses that the institute offers are Live sessions with the facility to watch the recorded session anytime. What I like about this institute is that all the courses that they offer are professional courses, conducted live, and career-oriented. And the most important part is that whether you are a housewife, a student wanting to gain knowledge enhancement or a professional who wants to explore more career opportunities, they have the course for everyone.

 

One more point to note is the fee structure, which is very competitive if we compare it with other institutes. Plus, they offer guaranteed internship and placement assistance.

 

IIM SKILLS offers many courses and a few of them are listed below – 

Content Writing Master Course

Digital Marketing Master Course

Advanced SEO Course

Technical Writing Course

GST Certification Course

BAT Course

 

Now let’s move to the second institute – Wall Street Prep.

 

2. Wall Street Prep

Wall Street Prep is a training platform established in 2004. They provide online training services and boot camps that help students and professionals to get an extra edge in their careers and cope with the developments in fields like investment banking and corporate finance.

The institute offers 2 types of training methodologies – Live online sessions and recorded sessions. Their clients include top investment banks, private equity firms, investment funds, and business schools, which offer these courses to their students and employees.

 

Courses Offered by Wall Street Prep

  • Financial Modeling
  • Accounting, Finance & Credit that includes courses for analyzing financial statements and interpretation of Non-GAAP Reports
  • Investment Banking
  • Preparation for Finance Interview
  • Markets, Sales & Trading which includes courses on fixed income as well as equity market certification.
  • Real Estate
  • Productivity & Data Analysis
  • Industry-Specific Modeling that includes bank modeling, oil and gas modeling, project finance, and more
  • Corporate Restructuring

Now, this was little information about both the Institutes. Now let us go into detail and do an in-depth analysis of the financial modeling courses offered by both institutes which will be your ultimate guide to choosing between IIM SKILLS vs Wall Street Prep Financial Modeling Course.

 

IIM Skills Financial Modeling Course

IIM Skills financial modeling course is designed by industry experts that have experience in the finance sector. All the courses offered by IIM Skills are developed after a lot of research on the topic by industry experts. The focus of all the courses offered by IIM Skills is on enhancing an individual’s capabilities for the job market. Participants will be trained specifically for all the qualities which are required by today’s organizations.

 

Let’s Have a Look at the Main Highlights of the Financial Modeling Course Offered by Iim Skills:

  • Interactive live online course
  • Flexible scheduling
  • Practical assignments
  • Hands-on learning
  • Dedicated placement cell
  • 100% interview guarantee
  • Tool-based practical learning
  • Mentorship by top-level professionals
  • Community access to the alumni
  • Live recorded sessions are available to watch anytime at your convenience
  • Refund of course fees in case you are dissatisfied with the course
  • Accredited certification from IIM Skills
  • 24×7 learning and technical support
  • 3 months course duration + 2 months guaranteed internship

 

Course Modules

The Financial Modeling Course Offered by IIM Skills is Divided Into 6-course Modules

  • Module 1 – Basic Knowledge in Excel to Advanced Level of Training 

The duration of this module is 8-10 hours.

In this module, you will learn about excel and its function. Initially, it will start with the basics and then gradually the course will shift to the advanced level with functions like Vlookup, Hlookup, Index, Match, Sumifs, Offset, Paste Special, Concatenate, and Indirect.

You will also learn to create different types of charts and tables

The module includes learning functions like time value functions, text functions, text-to-column functions, return functions, and what-if analysis.

 

  • Module 2 – Various Concepts of Accounting and Analysis of Financial Statements

The duration of this module is 5-7 hours.

This module will clear all your accounting concepts like accrual and cash reporting, double entry bookkeeping, matching principle, money measurement, historical cost concept, accounting period concept, full disclosure concept, and business entity concept.

Learn to analyze an income statement, cash flow, and balance sheets and the link between all three statements.

Learn to read a company’s annual report.

 

  • Module 3 – Ratio / KPI analysis

The duration of this module is 4-6 hours.

As the name suggests, this module is learning about ratios. Get to know various ratios like activity/turnover, liquidity, solvency, profitability, valuation, and more. All the ratios under these heads are included.

You will also be able to prepare a financial summary and compare a company’s performance to its competitor’s.

 

  • Module 4 – Basics of Financial Modeling

The duration of this module is 4 hours.

Now that you have reached halfway through the course, it’s time to earn about financial modeling. Learn the structure of a financial model and create different types of scenarios and schedules.

Learn to practice the correct financial modeling practices.

 

  • Module 5 – Clarity in Understanding Various Types of Financial Models

The duration of this module is 12-15 hours.

There are different types of financial models and in this module, you will get to learn those models. The models you will learn are –

Three-Statement Projection Model

LBO Model

M&A Model

Basics of Merger and Acquisition Model

Private Equity Return Model

13-Week Cash Flow Model

 

  • Module 6 – Business Valuation

The duration of this module is 7-9 hours.

Learn the different concepts of valuation like – relative valuation, DCF valuation, and NAV approach for valuation.

You will also learn to prepare and present valuation reports.

Course Fees

The course fees for the financial modeling course offered by IIM Skills are ₹ 39,900 + 18% GST. But one thing that I would like to point out is that do not judge a course based on its fees. Sometimes, we think that a course which has higher fees will promise us better opportunities or will provide more knowledge in detail. Alternatively, one may also feel that there is no point in investing in a course and we should select a course that has the lowest fees.

 

Both cases are extremes, and we should not fall trap of both cases. Before choosing any course, first, understand the institute and then the course contents offered by the institute. Only then, select a course.

 

Recommended Reads

Financial Modeling Course Review

Financial Modeling Courses in India 

 

Now let us see the details about the financial modeling course offered by Wall Street Prep.

 

Wall Street Prep Financial Modeling Course

 

Wall Street Prep Offers Two Different Types of Financial Modeling Course Options:

  • Basic Package

In the basic package, the focus is on financial statement modeling. At the end of the program, participants will be able to build a complete financial statement model.

 

  • Premium Package

The basic package is a part of the premium package. In the premium package, how to evaluate the financial statement model is taught.

Now let us see the details about both packages.

 

Financial Modeling Basic Package

Course Highlights

  • This is a self-paced learning program where you will take about 20-30 hours to finish the course.
  • This program will the participants to appear for job interviews and develop the skills required for the job
  • Live video chat feature is also available at an additional cost of $800/hour.

Course Module

  • Learn shortcuts in excel that are mostly used in financial modeling
  • Learn to practice the correct financial modeling practices
  • Build a 3-statement model
  • Learn to perform sensitivity analysis
  • Check the models for errors

Course Fees

The Course Fees for the Financial Modeling Course Offered by Wall Street Prep Are $199

 

  • Prerequisites for the Course

You will need a basic knowledge of excel and accountancy. Wall Street Prep also offers a crash course in accounting which the students can join in case they have no prior experience in finance or accounting and still want to pursue a career in financial modeling.

 

Financial Modeling Premium Package 

Course Highlights

  • This is a self-paced learning program where you will take about 70-90 hours to finish the course.
  • The program uses a case study teaching methodology.
  • This program prepares the participants to appear for job interviews and develop the skills required for the job.
  • On enrolment, participants have access to the online support centre where you can ask questions, download course-related materials, and get to know about important updates.
  • Facility to upload your resume and cover letter on the wall street prep portal.
  • Live video chat feature is also available at an additional cost of $800/hour.

Course Module

  • Learn to develop a 3-statement model and make projections based on facts and figures
  • Valuation Analysis
  • Learn to analyze mergers and acquisitions
  • Learn the concept of Comps analysis which is the most widely used method

Course Fees

The Course Fees for the Financial Modeling Course Offered by Wall Street Prep Are $499

  • Prerequisites for the Course

You will need a basic knowledge of excel and accountancy. Wall Street Prep also offers a crash course in accounting which the students can join in case they have no prior experience in finance or accounting and still want to pursue a career in financial modeling.

So, this was a comparison of the financial modeling courses offered by both institutes which will be your ultimate guide to choosing between IIM SKILLS vs Wall Street Prep Financial Modeling Course.

 

Comparison in Brief About IIM Skills Vs Wall Street Prep Financial Modeling Course

So, by the above-detailed comparison, you must have got a better picture of the course details offered by both institutes.

  • The course fee for IIM SKILLS is affordable. The fee for IIM Skills are ₹ 39,900 + 18% GST. The Wall Street prep course fees are $199 and $499 for basic and premium courses respectively.
  • IIM Skills offers Live sessions whereas Wall Street prep offers recorded sessions and for any interaction, the live video chat feature is also available at an additional cost of $800/hour.
  • The premium package offered by Wall Street Prep institute is quite elaborate and includes almost every aspect of financial modeling. The basic package on the other hand includes only learning to build a complete financial statement model and not the valuation part. IIM Skills offers a single financial modeling course and includes all the modules required to succeed in the field of financial modeling.

 

Now let us go through the most asked questions about the financial modeling courses offered by both institutes so that they will help to solve your queries and choose between IIM SKILLS vs Wall Street Prep Financial Modeling Course.

 

Frequently Asked Questions (FAQs)

Q1. What are the types of financial models?

There are many types of financial models that are available and used in the decision-making process by financial modeling experts. But listed below are 10 types of financial models:

  • Three Statement Model
  • Discounted Cash Flow (DCF) Model
  • Merger Model (M&A)
  • Initial Public Offering (IPO) Model
  • Leveraged Buyout (LBO) Model
  • Sum of the Parts Model
  • Consolidation Model
  • Budget Model
  • Forecasting Model
  • Option Pricing Model

Whichever course you select, make sure that the course includes not only the preparation of the financial models but also teaches how to evaluate the financial statements. Preparation is one aspect, and the most important part of the financial modeling process is to evaluate the models and provide forecasts and decisions based on those models. So, before choosing IIM SKILLS vs Wall Street Prep Financial Modeling Course make sure you read the course contents properly.

 

Q2. If I choose the financial modeling course by IIM Skills, will I get placement assistance?

IIM Skills has a dedicated placement cell that guarantees 100% placement support after the course. Once you complete the course successfully, they will assist you in securing a guaranteed internship with their partner firms in the fields of investment banking, financial modeling specialist & valuation advisory.

IIM Skills has partnered with 150+ organizations for placements of the course participants. Mock interview preparation is also included in the placement assistance program. To date, IIM Skills have transformed over 35,000 careers.

 

Q3. Do I need basic knowledge of Excel to enrol in the financial modeling course?

If you have basic knowledge of excel and can perform various basic functions of excel, then it will be an added advantage and you will be able to learn the financial modeling course much faster.

But in case you are not much aware of basic excel functions, then also you can enrol in the course. The financial modeling course offered by IIM Skills teaches the participants basics of excel and then moves forward to the advanced level of functions. So, the financial modeling course offered by IIM Skills is offered from scratch, so all the participants of the course are on the same page. Even if you have a basic knowledge of excel, then you can refresh your skills during the first module of the financial modeling course.

So, do not worry about the basic excel knowledge when choosing between IIM SKILLS vs Wall Street Prep Financial Modeling Course. IIM Skills has covered that part of the problem and you will be trained in excel from scratch in the first module of the financial modeling course.

 

Q4. What is the average salary of financial modeling experts?

The salary offered to financial modeling experts can vary for different fields and sectors in which you are working. As per Glassdoor, the average salary offered to the financial modeling expert is ₹75,015.00, but it can vary as per the experience you have, and the field you are employed in.

Of course, money is important, but initially in your career, do not stress much about the money and choose the job based on that factor. Instead, select a job that provides you with the necessary exposure and experience that will help in your career growth. You should get to do different things during your work, learn many aspects of financial modeling on the job and gain the required experience during your work. If initially, you will keep the salary and money in mind, you might choose the wrong job and you will not be able to do justice to your role or you might get rejected because of a lack of experience.

 

Final Thoughts on the IIM Skills Vs Wall Street Prep Financial Modeling Course

The basic idea for presenting the comparison between IIM SKILLS vs Wall Street Prep Financial Modeling Course was to give you an overview of both the institutes, the financial modeling course they offer, and the course contents.

Before choosing the course, make sure you contact the institutes and ask for a demo session so you will get a clear picture of whether the teaching methodology of the institute and the course structure suit you or not. IIM Skills offers a free demo class which you can attend before deciding between IIM SKILLS and  Wall Street Prep Financial Modeling Course.

So, both institutes offer a complete package in terms of learning financial modeling with different terms, fee structures, and training methodology. This article will serve as a base for you to decide on the IIM SKILLS vs Wall Street Prep Financial Modeling Course.

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