The Coffee Chat by Adventis

In this episode, Kennedy and Ben have a genuinely exploratory conversation about what it means to be early in the Investment Banking process and still figuring things out. They dig into the real tension between IB's intensity and her long-term personal goals, why FP&A might be a stronger natural fit, Ben's recommendation to target middle market and regional banks over bulge bracket New York, and why getting an IB internship, even if you end up not loving it, is still a fantastic outcome. This is a different kind of episode, and one that will resonate with any student who's done the work but still hasn't fully committed to a direction.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.com---Edited by Jamie Regan - ⁨@CreatedByRegan⁩ Hosted by Ben DowellGuest: Kennedy Kramer---CHAPTERS:0:00 — Introduction & Kennedy's Background0:47 — Growing Up in Cincinnati & How Tennessee Made the List1:40 — Sophomore Self-Awareness: Not Sure Yet, and That's Okay2:25 — Adventis Level 1, Level 2 & Student Trainer: How Kennedy Got There So Early3:34 — The TCMS Academy: M&A Pitch Competition & Building Real Models5:08 — What Kennedy Loved (and Didn't) About the Modeling Process6:18 — Three Statements vs. Valuation: Why the Core Model Clicked More7:58 — 4-5 Coffee Chats In: What Kennedy Has Learned So Far8:52 — The Family Friend Who Opened the Door to IB Conversations9:34 — Networking with an Athlete Who Skipped the Internship & Still Made It10:20 — Exploring FP&A: Work-Life Balance, Financial Modeling & the Middle Path11:59 — The Long-Term Vision: Family, Presence & Why the Work-Life Tension Is Real13:06 — IB Optionality: Going In Wide, Coming Out With Options15:46 — Not a Lifelong Commitment: Why Two Years of IB Is a Different Calculation16:15 — Ben's Recommendation: Middle Market & Regional Banks Over Bulge Bracket NYC18:11 — Culture Matters: Finding a Firm Where You Actually Like the People21:18 — The Learner Attitude: Treating the Internship as an Experiment, Not a Lock-In22:09 — The Sophomore Summer: Why This Summer Is Still a Wild Card25:19 — Five Weeks to Decide: Setting an End-of-October Decision Deadline27:52 — Cold Outreach Template: Point of Connection, Specific Ask, Three Time Slots29:08 — The Hidden Opportunity: Middle Market Companies Nobody Else Is Targeting30:38 — Using AI for Career Research: One of the Best Use Cases for Students31:16 — Clarifying the "Go While You're Young" Advice: It Applies to Parenting Too33:00 — The Warning Nobody Gives You: How IB Can Be Hard to Quit35:43 — Golden Handcuffs: When Income Becomes a Trap37:23 — Get a Sophomore Year Internship: It Literally Doesn't Matter What It Is40:25 — Don't Worry About Getting In and Not Liking It — That's a Great Outcome42:44 — Two Years of IB = Eight Years of Regular Finance Experience44:54 — Human Capital: You Get Paid in Skills AND Cash47:52 — Kennedy's Closing Advice: Go In With a Learner Attitude49:03 — Ben's Final Take: IB vs. Wealth Management & Where Kennedy's Path Might Lead52:24 — Recruiting Geography: Cincinnati, Nashville & Staying Close to Home53:44 — Big Picture: The Future of Independent & Contract Work After IB54:44 — Closing Remarks

Anthony Ellis is a junior at Iowa State who took a gap year after high school working as an electrician's apprentice and just landed a junior year investment banking internship at Lincoln International in Chicago.In this episode, Anthony walks through how that unconventional background became his most powerful recruiting asset, why he made the deliberate decision to go deep on one firm rather than spread across many, and how a five-day networking trek to New York and Chicago ultimately changed the direction of his career. We also dig into Iowa State's IB Initiative, the daily study group approach that got him through the 400 questions guide, and how the Adventis program let him complete a live LBO on day three of his sophomore summer PE internship faster than any of the other interns.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.com---Edited by Jamie Regan - ⁨@CreatedByRegan⁩ Hosted by Ben DowellGuest: Anthony Ellis---CHAPTERS:0:00 — Introduction & Anthony's Background0:48 — Growing Up in Des Moines & Choosing Iowa State2:04 — The Gap Year: Working as an Electrician's Apprentice & Bartending3:42 — What People Get Wrong About Taking a Gap Year5:21 — How the Gap Year Created Clarity, Confidence & a Unique Story7:45 — Slowing Down Before a Big Decision: Advice for High Schoolers9:31 — How the Electrician Story Became Anthony's Biggest Recruiting Asset10:45 — The Networking Strategy: Why Anthony Put Most of His Eggs in One Basket12:14 — The Networking Trek: 19 Firms Across New York and Chicago in Five Days13:03 — Walking Into Lincoln International & Feeling It Immediately14:32 — From the Office Visit to the Offer: How the Snowball Started15:46 — Going Back to Chicago in January — On His Own Time, With His Dad16:37 — Why Focused Networking on One Firm Actually Reduces Risk17:19 — The VP Who Walked the Desk and Got Everyone to Respond18:14 — Anthony's Super Day: 6 Interviews, 8 People, 3 He Already Knew19:21 — Walking Into Super Day With the Recruiter Who Hosted the Original Trek19:53 — The Mental Shift: Realizing the Hard Work Was Already Done22:00 — Applying to 30 Banks vs. Deeply Networking at a Few: The Real Lesson23:14 — The Evercore First Round That Came Out of Nowhere24:02 — Iowa State's IB Initiative (IBI): How the Program Works26:36 — Freshman Year in the IBI: Exposure, Speaker Series & Learning the Basics28:20 — The Sophomore Re-Application: Why Making Them Earn It Matters30:32 — Sophomore Year in the IBI: Credit Course, Mock Interviews & Mentorship33:06 — Coaching the Next Class: Why Generic "Why IB" Answers Won't Cut It34:09 — The November Networking Trek & December Recruiting Ramp-Up35:02 — Technical Prep: 400 Guide, Wall Street Oasis & Daily Study Groups36:37 — How Adventis Made the Difference Between Knowing It and Doing It38:14 — Building a Live LBO at Midwest Growth Partners — On Day Three39:14 — The Adventis Macros That Made Anthony the Fastest Intern in the Room40:35 — Finishing Faster Than the Iowa Kids — The Iowa State Moment of Pride41:20 — Closing Remarks & Congrats to Anthony

Tej Shah is a junior at the University of Illinois who just wrapped up a sophomore summer private equity internship at Water Street Healthcare Partners in Chicago, and has an incoming analyst offer at JPMorgan's M&A group waiting for him next summer. In this episode, Tej walks through how the IVC Scholar Program connected him to the buy side before he even started junior year recruiting, how both the Water Street internship and his Adventis certifications became instant icebreakers in every banking interview, and why sending 10–20 networking emails a day in October and November of sophomore fall was the key to his JPM offer landing in January. We also dig into a networking mistake almost every recruiter makes on early calls and the "let the banker lead" mindset shift that fixes it.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.com---Edited by Jamie Regan - ⁨@CreatedByRegan⁩ Hosted by Ben DowellGuest: Tej Shah---CHAPTERS:0:00 — Introduction & Tej's Background0:54 — Growing Up in Chicagoland & Choosing U of I2:09 — Saying Yes to Everything Freshman Year: Clubs, Fraternities & More3:55 — The PE Internship: What Tej Did at Water Street Healthcare Partners7:08 — The Six-Week Case Study: Modeling a Pharma Carve-Out from Start to Finish8:36 — Sitting in on Live Deals: SIMs, SIPs & Monday Morning Meetings9:35 — Key Learning: Understanding the Buy Side Before Going to the Sell Side10:44 — The IVC Scholar Program: How It Works & What It Unlocks13:17 — How Tej First Heard About the IVC Program as a Freshman15:48 — Freshman Year Strategy: Spread Out First, Then Focus Sophomore Year17:09 — How the IVC Application & Interview Process Works18:32 — Coming Into Winter Break With a Lead: The Fourth Quarter Principle19:34 — How Adventis & the Water Street Offer Showed Up in Every Banking Interview20:37 — You Don't Need a PE Internship — Any Experience Builds the Lead22:15 — Why Interviewers Love Having Something to Dig Into on Your Resume22:36 — Water Street Required Adventis — Tej Had Already Finished It24:15 — How Tej Described the Adventis 90-Minute Standard in Interviews25:48 — Why the Time Pressure Simulates Real On-Desk Conditions26:28 — How Many Reps It Took to Get Under 90 Minutes (~10)27:23 — The JPM Recruiting Timeline: October Outreach to January Super Day29:11 — Going Full Steam Ahead: The Sophomore Fall Commitment Decision30:08 — Sending 10–20 Networking Emails a Day in October & November31:07 — JPM Chicago Specifically: Why M&A at JPM Became Tej's Top Choice33:25 — The Mistake Every Recruiter Makes on Early Networking Calls35:23 — The Right Lesson: Let the Banker Lead the Conversation37:12 — The Secret Ninja Move: Showing You Can Listen38:35 — Making Mistakes Early So You Nail It When It Counts39:02 — Tej's JPM Offer Timing & the Decision to Accept Early40:27 — How Many Banks Would Tej Have Pursued Without the JPM Offer?42:05 — Target 4–6 Banks, Build Real Momentum at Each43:59 — Refreshing Relationships After the Holidays Before Interview Season44:23 — Reframing Rejection: It's a Selection, Not a Dismissal46:21 — Final Advice: Enjoy the Small Victories & Trust the Process47:30 — Closing Remarks & Congrats to Tej

Mary Ellen Ryan is the Senior Associate Director of Undergraduate Career Development at Bentley University, where she has spent 12 years coaching finance students into investment banking, asset management, wealth management, and beyond, conducting roughly 500 one-on-one coaching sessions per year.In this episode, Mary Ellen brings a perspective you rarely hear on this podcast: the view from inside the career center. She walks through how recruiting timelines have shifted dramatically over the past decade, what freshmen and sophomores should actually be doing at each stage, why technical expectations have risen well beyond memorizing the 400 questions, and how banking recruiting is fundamentally a risk management process from the employer's side.We also dig into AI's role in finance recruiting, modeling, and the classroom.

n this episode of The Coffee Chat Podcast, Ben sits down with Jimmy Johnston, a rising junior at the University of Illinois who just secured a sophomore summer internship at Morningstar and a junior year investment banking internship at JPMorgan, both in Chicago.In this episode, Jimmy walks through how a Prime M&A info night in his first month of college set him on the path to IB, how he became an Adventis Lead Trainer (completing the full model and valuation suite in under 60 minutes), and how that modeling depth helped his team be the only one to correctly call United Natural Foods overvalued in a live case competition. We also get into his Chicago-focused recruiting strategy across 15 processes and 5 super days, why he recommends finding "battle buddies" for technical prep, and the lessons he learned from making mistakes during the recruiting process.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.com---Edited by Jamie Regan - @CreatedByRegan Hosted by Ben DowellGuest: Jimmy Johnston---0:00 — Introduction & Jimmy's Background0:52 — Why University of Illinois: Network, Culture & Chicago Roots2:07 — Jimmy's Goal: Investment Banking in Chicago4:21 — Prime M&A: The JV League That Got Jimmy Hooked on Banking5:43 — The Case Competitions: Winnebago and Traeger Pitches7:50 — Strategy: Why Committing to Chicago Early Was a Smart Move9:21 — How Prime Led to the Investment Banking Academy10:35 — Growing Up Wanting to Take the Train to Chicago12:10 — The Double Win: Morningstar This Summer, JPMorgan Next Summer14:29 — Why Credit Analysis at Morningstar Will Pay Off Later15:39 — 15 Processes, 5 Super Days: What That Volume of Recruiting Looks Like16:19 — In-Person Office Visits: Chicago & New York with the IB Academy18:17 — Advice for Rising Freshmen: Don't Jump in the Deep End Immediately19:06 — Testing Consulting, Law & Education Before Committing to Banking21:04 — The Go/No-Go Decision Point: Summer Before Sophomore Year23:29 — Technical Prep: Breaking Into Wall Street Guides & Note-Taking Old School24:42 — Using AI to Understand Concepts You Can't Grasp from a Guide25:35 — Don't Prep Alone: Finding Your Battle Buddies26:25 — Mock Interviews: Technical AND Behavioral — Both Matter27:08 — Brain Teasers: 10 Ways to Use a Pencil (Not Including Writing)28:15 — Becoming an Adventis Lead Trainer: The Full Model in Under 60 Minutes30:36 — How Modeling Mastery Gave Jimmy the Edge in the IB Academy Case Competition33:26 — Calling United Natural Foods Overvalued — and Being Right35:39 — Organization: The Skill Jimmy Wishes He'd Built Earlier37:11 — Making Mistakes in Recruiting & What They Taught Him38:57 — Why a Typo in a Networking Email Is the Same as a Typo to a Client41:15 — Final Advice: Go Together, Stay Focused, Enjoy the Ride43:21 — Closing Remarks & Congrats to Jimmy

In this episode of The Coffee Chat Podcast, Ben sits down with Darren Shum, a junior at Cornell's Hotel School who just accepted a summer investment banking internship at Wells Fargo and turned down an offer from Nomura to get there. Darren explains how his unconventional major actually became a differentiator, particularly for real estate IB, and how Cornell's massive alumni network is both a huge asset and a serious challenge. He walks through the mid-August outreach strategy that earned him 20-30% response rates when everyone else was getting single digits, the four-touch follow-up system he used to build real relationships over time, and the Adventis shared experience that turned a Nomura Super Day into an offer. We also get into the right and wrong ways to use AI in recruiting, including why you should never use AI as your current events answer.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.com---Edited by Jamie Regan - @CreatedByRegan Hosted by Ben DowellGuest: Darren Shum---0:00 — Introduction & Darren's Background0:52 — Why Cornell's Hotel School Is a Hidden Edge in Banking Recruiting3:19 — Hotels, Real Estate & Why the Hotel School Feeds Directly into REIB5:11 — Cornell Hotel Alumni in Banking: The Shared Experience Advantage7:00 — The Restaurant Management Class: Running a Real Restaurant on Campus9:48 — The Dark Side of a Target School: 400+ People Competing for the Same Roles10:39 — What Happens When 500 Students Swarm One Banker at a Campus Event11:56 — 1,000 Cornell Banking Alumni & Overflowing Inboxes13:16 — When to Start Emailing: The Mid-August Sweet Spot14:03 — Why Emailing Too Early Can Actually Hurt You15:18 — Response Rates: 20-30% in August vs. Single Digits in December16:55 — The Four-Touch Follow-Up System That Kept Connections Warm18:49 — The Final Holiday Email: Turning a Relationship Into a Referral Call19:56 — The Adventis Shared Experience That Turned a Nomura Super Day Into an Offer21:22 — Why a Certification Is More Than a Piece of Paper in the Interview Room23:15 — What "Creating an Advocate in the Room" Actually Means24:19 — Using AI for Mock Interviews: What Works and What Doesn't25:44 — Why AI Fails at Scraping LinkedIn for Networking Lists27:02 — The Right Way to Use AI: The 400 Questions Mock Interview Trick28:41 — Mastering Technical Tools as a Junior Hire30:11 — Pro Tip: Don't Talk About AI as Your Current Events Answer31:43 — Final Advice: Start Early, Customize Every Email & Don't Blast the Same Group33:49 — Closing Remarks & Congrats to Darren

In this episode of The Coffee Chat Podcast, Ben sits down with Yash Bansal, a sophomore at the University of Illinois who just landed a junior year analyst internship at JP Morgan's Private Bank. In this episode, Yash shares how early stock market interest led him to finance and how a single cold email to a Merrill Lynch advisor helped him narrow his focus to wealth management over investment banking or asset management. We cover his recruiting timeline, how he tackled HireVue as part of his application, what got him straight to a Super Day, and how the Adventis program helped him visualize financial statements under interview pressure. Ben and Yash also get into practical networking techniques, including how to turn a list of questions into an actual conversation, the email syntax trick for cold outreach, and the litmus test for a truly unique "why this firm" answer.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.com

In this episode of The Coffee Chat Podcast, Ben sits down with Magnus Gadowsky, a sophomore at Amherst College who started college on a pre-med track and just accepted a junior year investment banking internship at Triple Tree in New York.In this episode, Magnus shares how shadowing an orthopedic surgeon and an unexpected internship at Magnetar Capital sent him down a completely different path. We cover how he used his healthcare background as a genuine differentiator across 60+ networking calls, how Adventis helped him understand what investment banking actually was, and how a connection through an Amherst friend led him to Triple Tree. Magnus also shares one of the best interview tips we've heard on the show, going deep enough on firm culture to uncover something truly unique, not just the generic talking points.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.com---Edited by Jamie Regan - ⁨@CreatedByRegan⁩ Hosted by Ben DowellGuest: Magnus Gadowsky---0:00 — Introduction & Magnus's Background1:19 — Starting Pre-Med: Shadowing an Orthopedic Surgeon4:27 — The Surgery Sales Rep Conversation That Changed Everything5:49 — How a Hedge Fund Internship at Magnetar Capital Happened7:22 — Being Opportunistic: Taking Internships Off Your Planned Track9:22 — What Magnus Actually Did at Magnetar Capital10:06 — Falling in Love with Excel & Financial Modeling11:50 — Coming Out of Magnetar: Still Not Sure About IB12:35 — How Adventis Clarified the Path to Investment Banking13:25 — Starting to Network: Reaching Out to Recent Alums14:08 — 60+ Networking Calls: How the Story Snowballed15:18 — Why a Unique, Authentic Story Opens More Doors17:14 — Casting a Wide Net While Staying True to Healthcare18:07 — How Magnus Found Triple Tree & Connected with the Right People19:23 — Why Industry Experience Matters in Healthcare Banking21:17 — Sophomore Summer Plans & Looking Ahead22:16 — Following Your Genuine Interest Through Networking23:24 — How Triple Tree Came Up & Working Through Amherst Connections24:29 — Preparing for the Internship: Adventis, Newsletters & Staying Sharp29:19 — Unique Interview Advice: Going Deep on Firm Culture30:25 — The Pond Hockey Story: What Real Culture Research Looks Like33:04 — Making It Easy for Interviewers to Picture You There34:10 — Don't Get Blinders On: Let Networking Tell You Where to Go35:35 — Closing Remarks & Congrats to Magnus

In this episode of The Coffee Chat, Ben sits down with Hadley Siena, a sophomore at the University of Illinois at Urbana-Champaign who just accepted a junior year investment banking internship at BMO in Chicago. Hadley shares how an international upbringing, including a formative experience in the Philippines through CISV, sparked her interest in business and ultimately led her to investment banking. We dig into her preparation timeline, from the Prime M&A Case Competition freshman year to grinding the 400 questions guide and earning her Adventis certification. Hadley also walks through her networking strategy, the value of in-person coffee chats, how she used AI tools like ChatGPT for mock interview practice, and what she learned from recruiting in both New York and Chicago.

In this episode of The Coffee Chat, Ben sits down with Eric Ren, a University of Illinois Urbana-Champaign graduate who built his way into investment banking at Deutsche Bank.Eric shares how he navigated recruiting during COVID, cold-emailed hundreds of bankers, flew to New York to network in person, and developed the technical skills that helped him stand out once he landed on the desk. If you're interested in investment banking recruiting, networking strategy, and breaking into Wall Street from a non-traditional path, this episode provides a practical playbook.Sign up for the Adventis Financial Modeling Certification (FMC) program at https://adventiscg.comEdited by Jamie Regan -  ⁨@CreatedByRegan⁩  Hosted by Ben DowellGuest: Isaac (Ike) Cymerman