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12.17.2025
Keep reading for your insider look at December’s weekly IB update.
Recruitment Breakdown ✏️
Summer Analysts 2027: Applications dropped for…
Piper Sandler and Deloitte
This brings the total of banks that are actively recruiting for SA27 to over 20+
A couple of banks that also recently opened, in case you missed them:
Rothschild & Co. (EB), Deutsche Bank (MM), Moelis (EB), Houlihan Lokey (MM) 🔥 Apply ASAP to boost your chances ⚡
SA27 Live Applications: Perella Weinberg, Stifel, LionTree, Leerink Partners, RBC applications have been rolling… (it’s now or never to apply)
SA27 Early Insights/Diversity Programs: Live! Jefferies (IB Insight Day), Rothschild (Soph. Leadership Program), Guggenheim (Sophomore Symposium)
Wishing you an inbox full of interview invites this December 🎁
Question of the Week - Houlihan Lokey
Each week, we’ll tackle one big recruiting or finance question from a bank with an open application from the Pretus question bank. Have a question you’d like answered? Send it our way, and we’ll feature it.
Question from HL NYC superday
Best practice answer provided by Pretus
Negative beta means an asset’s returns tend to move opposite the overall market. When markets go down, negative-beta assets often hold up or rise, making them a hedge against market risk.
Example: Gold or Treasury bonds can have slightly negative betas since investors often rotate into them during equity sell-offs. In CAPM terms, a negative beta lowers the required return, sometimes even below the risk-free rate.
Industry Headlines 📣
Deal of the week to drop in Your Next Coffee Chat…
Hollywood Shake-Up: Netflix Eyes Warner Bros.
Netflix is reportedly exploring a massive deal for Warner Bros. Discovery’s studios and streaming assets, which would bring franchises like Harry Potter, DC, and Game of Thrones under the Netflix umbrella. The deal is said to be valued at north of $80B, making it one of the biggest media moves in years.
It would be a big shift for Netflix, which has historically focused on building rather than buying. That said, nothing’s locked in yet. A higher all-cash counterbid from Paramount Skydance has surfaced, and regulators are already raising antitrust questions. Netflix leadership has pushed back, saying they’d protect theatrical releases if the deal goes through.
Bottom line: If this happens, it could seriously reshape how movies and TV get made and distributed. Definitely one to watch. 🎥
New: Pretus Community 🧑🧑🧒🧒
We’re launching a free, active community for anyone going through investment banking recruiting. Think of it as an always available extension of your finance club that you can use anytime.
Inside, you can:
Ask recruiting questions and get real answers from one of our 10+ mentors and students who received offers at top banks
Join office hours with students who landed top banking offers
Access our deadline trackers
Get free resume reviews and recruiting resources
Stay up to date with recent banking and recruiting news that actually matters
Get early access to new banking questions and prep materials
We’re launching soon. Join the waitlist here:
Interested in banking compensation? 🔎
Want to access a large database of IB Comp Data? You can start by accessing this free report here.
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