What Separates an Excellent Financial Modeler From a Technically Good One with Diarmuid Early

In this episode of Financial Modeler’s Corner, Paul Barnhurst speaks with Diarmuid Early about what separates great financial modelers from technically capable ones, the rise of AI in financial modeling, and why judgment remains essential. Diarmuid shares lessons from his career, his experience as a three-time World Financial Modeling Champion, and why understanding what a model actually means matters more than simply building it correctly.

Diarmuid Early is the founder of Early Days Consulting, a data analytics and financial modeling consultancy. He previously worked at Boston Consulting Group and spent nearly a decade in Deutsche Bank’s Origination and Advisory division. He holds a PhD in computer science and is a three-time World Financial Modeling Champion, Excel MVP, and Master Financial Modeler

Expect to Learn:

• Why great modelers think beyond simply building the model
• How assumptions and business understanding drive valuable financial models
• Where AI currently fits into financial modeling
• Why AI-generated models still require careful human review
• Why continuous learning remains essential for financial modelers

Here are a few relevant quotes from the episode:

• “The hard part is getting everybody aligned. What are the assumptions?” - Diarmuid Early
• “There is a smart way to do it. And so if you're banging your head against it, go find the smart way.” - Diarmuid Early

AI will continue to take on more of the technical work involved in financial modeling, but speed alone does not make a model useful or reliable. Strong modelers will continue to stand out through their ability to develop credible assumptions, interpret results, exercise judgment, and understand the decisions a model is meant to support.

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YouTube: https://www.youtube.com/@dimearly

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Disclosure: Portions of this episode (such as the introduction or promotional segments) use AI-generated voice narration produced under human editorial review.

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In Today's Episode:

[00:00] - Trailer

[03:31] - Diarmuid’s Journey Into Financial Modeling

[06:00] - Financial Modeler Stereotypes

[08:20] - Career Advice for Aspiring Modelers

[12:46] - Financial Modeling Competitions

[14:59] - Consulting, Coaching, and Career Evolution

[18:25] - Meeting Microsoft CEO Satya Nadella

[21:08] - AI and the Future of Financial Modeling

[25:41] - Why AI-Generated Models Still Need Review

[31:09] - Financial Modeling Standards and Best Practices

[35:19] - Diarmuid’s Most Challenging Modeling Case

[39:28] - Excel Shortcuts and Modeling Tools

[41:38] - Rapid-Fire Modeling Questions

[46:01] - Continuous Learning and Final Advice