what excel skills do i need to start my consulting internship
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Hi,
Sharing a few common functions that were the most useful for me:
- Pivot tables
- Lookups: Index Match, Index Match Match, V/H Lookup, or X lookup (in the newer versions of excel)
- Sums: Sumproduct, Sumif
- Goalseek
- Conditional formatting
In addition - do note that formatting and etiquette are equally as important (e.g. don't combine hardcoded numbers with formulas).
Lastly - you will never be able to prepare for all the unknowns and problems that you face while doing excel on the job. But really all you need is google and colleagues who are willing to help you → this will get you to the function/solution that you need 90% of the time.
All the best!
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To add to the above:
-Sensitivity tables (1 input, 2 input)
-Text manipulation functions (len,left,right, etc)
-Conditional functions (if, sumif, etc)
-Search functions (please use index/match instead of vlookup as it is more robust)
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Hi,
Depending on whether it is an MBA / Grad internship. For an MBA internship you are expected to know both basics and advanced:
Basics
- Fast excel - throw away your mouse and put some tape on your touchpad. Do everything with your keyboard!
- The main formulas (especially vlookup, column, etc)
- Pivot tables
- Nice formating
- Modeling - you need at least to know how to structure your sheets (Inputs, outputs, sources, versions, etc)
Advanced skills include:
- Financial modeling (making proforma statement)
- Valuation of projects / companies
Best!
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Dear A,
It would be helpful for you to learn the business-focused Excel features.
In business, about 80% of your work will come from 20% of the functionality of the Microsoft Excel.
The core skills of a competent business Excel user are something like:
- Formatting & basic formulas
- Mouse-free Excel navigation
- Vlookups & conditional statements
- Data analysis - filtering, sorting, and analyzing data
- Data visualization - tables, charts, and dual axis charts
- What-if-analysis
- Pivot tables
If you can do these things, you’ll outperform 95% of people in the workplace.
To learn these concepts, you could:
- Learn the concepts online for free
- Take an online course
If you’re looking for something free, I’d recommend Googling & Youtube-ing those topics on my list. Tons of free material online. On Udemy you can also find some courses.
If you’re short on time, take a short business-focused online course.
I’d recommend the following business-focused course focused on mastering the 20% of functions that make up 80% of Excel work.
Best,
André
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