To become a top-tier Investment Banking Analyst, mastering Excel shortcuts is critical. All your analytical work is based on Excel. All the financial modeling is done in Excel. This is your primary tool. You need to be fast with Excel.
You think you can do everything with the mouse? Just that every Analyst and Associate uses keyboard shortcuts – that’s industry standard. Keyboard shortcuts, especially Excel shortcuts, significantly speed up your workflow. In real life, it’s the difference between going home at 11:00 PM vs. debugging your Excel file until 3:00 AM with your mouse. Speed in Excel leads to faster work performance = more time to check your work = better attention to detail = less careless errors = more trust = more responsibility = maybe a return offer?
Investment Banking Excel shortcuts cheat sheet
The most important Excel shortcuts in a nutshell
If you are new and don’t know where to start, here are the most important Excel shortcuts. These are all Windows shortcuts. Every Investment Bank uses Windows computers. You need specific plug-ins that don’t work on Mac Excel.
Use arrow keys to navigate the spreadsheet
Use Shift and Ctrl when navigating the spreadsheet
Use F2 to edit a cell
Use Alt + E + S or Ctrl + Alt + V for paste special
+ F – Paste formulas only
+ T – Paste formatting only
+ V – Paste values only
+ W – Paste column width
Use Enter for paste instead of Ctrl + V
Shift/Control + Space and Ctrl + +/- to add/remove lines or columns
Shift/Ctrl + Space and Shift + Alt + Arrow Left/Arrow Right to group/ungroup rows or columns
Ctrl + Page up/down to switch between worksheets
Use F4 to fix formulas or repeat the last action
Use Home, End and Ctrl + Shift when typing and selecting text
Ctrl + Backspace/Delete to delete entire words vs. just single letters
How to train Excel shortcuts
Using Excel without a mouse may sound daunting, but it just takes practice. You pick a few shortcuts and try to incorporate them into your routine. Then you move on to the next shortcut. Have a master Excel file where you drop down shortcuts you have mastered or are still trying to learn. That’s how you progress. This is how you consistently increase your speed. The main point is accelerating your word flow and not geek out about what you can do without a mouse. If a function can be done quicker with the mouse, then do it. If you can do it in two clicks, there is no point in pressing an 8-button combo. It’s a skill set that you learn and will stick with you for the rest of your career. The ability to quickly manipulate and edit your spreadsheet will benefit you to the point where you should focus on practicing your shortcuts vs. learning super “advanced financial modeling”. You don’t need advanced math in Investment Banking. Just don’t mess up your Excel spreadsheet with bad formatting or wrong calculations.
Most commonly used Excel shortcuts in Investment Banking
Navigating
Arrow keys – Moves the cursor [basic]
Arrow keys + CTRL – Jump to the edge of selection [basic]
Arrow keys + SHIFT – Select cells [basic]
Arrow keys + CTRL + SHIFT – Select cells + Jump to edge [basic]
CTRL + PAGE UP/DOWN – Switch between worksheets [basic]
Cut, Copy, Past and Paste Special
CTRL + C – Copy [basic]
CTRL + X – Cut [basic]
CTRL + V or Enter – Paste / HINT: use Enter, it's quicker [basic]
ALT + E + S or CTRL + ALT + V – Paste special [basic]
+ F – Paste formulas only [basic]
+ T – Paste formatting only [basic]
+ V – Paste values only [basic]
+ W – Paste column width [basic]
Editing spreadsheets and formulas
F2 – Edit cell [basic]
Alt + = – Auto-sum [basic]
F4 – When editing a cell, anchoring a formula [basic]
F4 – Repeat the last action [basic]
SHIFT + SPACE – Select entire row [basic]
CTRL + SPACE – Select entire column [basic]
CTRL +/- – Insert row or column [basic]
SHIFT + ALT + Arrow right – Group row/column [basic]
SHIFT + ALT + Arrow Left – Ungroup row/column [basic]
ALT + A + H – Collapse grouped cells [advanced]
ALT + A + J – Expand grouped cells [advanced]
ALT + ENTER – New line within cell [advanced]
End – Move to end within cell when editing text [advanced]
Home – Move to beginning within cell when editing text [advanced]
ALT + O + H + R – Rename worksheet [advanced]
ALT + E + M – Move or copy worksheet [advanced]
ALT + E + L – Delete worksheet (CAREFUL!) [advanced]
Formatting
CTRL + B – Bold [basic]
CTRL + I – Italics [basic]
CTRL + U – Underline [basic]
ALT + H + A + L – Align left [advanced]
ALT + H + A + R – Align right [advanced]
ALT + H + A + C – Align center [advanced]
Ctrl + 1, A, TAB, C, C – Center across selection [advanced]
ALT + H + B + M – Customize borders dialogue [advanced]
ALT + H + H + N – Clear filling [advanced]
CTRL + _ – Clear borders [advanced]
View and tracing
ALT + W + V + G – Remove gridlines [advanced]
ALT + W + F + F – Freeze pane [advanced]
Alt + T + U + T – Trace precedents [advanced]
Alt + T + U + D – Trace dependents [advanced]
Alt + T + U + A – Remove precedent / dependent arrows [advanced]
Other support functions
CTRL + F / H – Search / replace [basic]
CTRL + S – Save [basic]
F12 – Save as [basic]
CTRL + P – Print [basic]
F9 – Recalculates the entire workbook [advanced]
SHIFT + F9 – Recalculates all formulas in the active sheet [advanced]
ALT + T + O – Open Options menu [advanced]
Where does it leave us?
Excel shortcuts are important because they significantly accelerate your workflow. You can manipulate an Excel spreadsheet quicker with shortcuts than with the mouse. Every Analyst and Associate uses keyboard shortcuts – that’s industry standard. Speed in excel leads to faster work performance = more time to check your work = better attention to detail = less careless errors = more trust = more responsibility.
Using Excel without a mouse may sound daunting, but it just takes practice. Pick a few shortcuts and try to incorporate them into your routine. Then you move on to the next shortcut. Have a master Excel file where you drop down shortcuts you have mastered or are still trying to learn. That’s how you progress. This is how you consistently increase your efficiency.
Learn them discreetly. Nobody talks about them, but everyone uses them. You want to accelerate your workflow and not geek out about Excel shortcuts. If something can be done quicker with a mouse, then use the mouse. If something can be done faster with shortcuts, then use the shortcuts.
Additional resources
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