Experience from
Deutsche BankDeutsche BankNorthcote Advisory is an independent educational programme and is not affiliated with any firm above.
The Programme
Built around the deal, not the classroom.
Three weeks. One live M&A deal. You research the target, build the financial model, and present your recommendation — exactly as a first-year analyst would. Written feedback on every deliverable from an experienced investment banker.
A live deal scenario
One M&A transaction, worked from start to finish. You receive the brief on Monday and work through it the way it would land on a real analyst's desk — research first, then the model, then the deck.
Real deliverables, real feedback
Every submission is reviewed and graded. You learn the way analysts actually learn — through direct feedback on your work, not multiple choice questions.
A track record before day one
You finish with a completed financial model, a full pitch deck, and the ability to talk through a live deal in your next interview with genuine conviction.
Weeks
3
Places per cohort
8
Live M&A deal
1
Curriculum
What you'll actually build
Three weeks. One live deal. Each week produces a real deliverable you can talk through in an interview.
Week 1 — Industry Research & Analysis
Full market overview, comparable companies table, and competitor landscape assessment — the same research pack an analyst produces on day one of a live deal.
Week 2 — Financial Modelling
M&A accretion/dilution model built from a pre-structured skeleton. You populate the deal assumptions, sources and uses, and produce a clean output showing whether the deal is accretive or dilutive to the acquirer.
Week 3 — Investment Deck
A full IBD-style pitch deck presenting your deal recommendation. Executive summary, industry overview, financial analysis, deal rationale, and key risks — in the format a real MD would expect to see.
What you walk away with
3
Weeks of live deal experience
3
Reviewed and graded deliverables
1
Completed M&A financial model
1
Full IBD-style pitch deck
Expert
Written feedback from an experienced investment banker
Certificate
Verified completion certificate
Our Mission
Real experience before the real thing.
Northcote Advisory is a three-week simulated M&A internship designed to give ambitious students genuine deal experience before they set foot in a bank. Build the skills, produce the deliverables, and walk into your next interview knowing you've done the work.
FAQ
Questions, answered.
Everything you need to know before you apply.
Still have questions? Get in touch at support@northcoteadvisory.com