How I went from 10 rejections to one dream internship this year.

The background story is here: I'm so pathetic--I can't get past 1st round Interviews

Finance:
Goldman Sachs 1st round. No.
Altamont Capital 1st round. No.
Bracebridge Capital 1st round. No
Bridgewater Associates 1st round. No.

Consulting:
Cornerstone Research 1st round No.
Analysis Group 1st round. No.
Simon-Kucher 1st round. No.


Acquisitions- Hired to be Fired?

I work at a small real estate investment shop as an asset manager. We have 17 buildings in major and secondary markets along the east coast, probably around $750mm AUM. I started here about 8 months ago along with an acquisitions guy. He was formerly an analyst at a major player and left a pretty good career to join our shop. A few days ago I was shooting the shit with one of the principles of the firm and he was talking about firing the newer acquisitions guy (we currently have 2) because we just finished a major buying phase and his services were no longer needed. He said this is how they always do business once they finish up a major purchasing round.

This startled me a little and I brought it up in conversation with our office manager who I feel I can trust and she basically told me that this is how they always conduct business and they don't tell the acquisitions people that they are basically coming on as a temp employee and then can them once the buying round is complete.

Is this normal throughout the industry?


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WSO Weekly Wrap-Up (5/23-5/29)

In case you missed them, here's some of last week's most popular topics:

Is your CEO worth his (her) pay? The Pricing and Valuing of Top Managers
Post By @Aswath Damodaran

The skill set and qualities that make for a value-adding CEO will vary across companies. For a start-up or young growth company, the qualities that create a stand out CEO will be imagination, charisma and narrative skills. For a mature company, CEO greatness may stem from understanding capital markets and sector dynamics and less from vision and imagination. In decline, a company may be best served by a CEO who can deal with slipping revenues and shrinking margins, while managing the return of cash to stockholders and lenders in the firm.

I believe that information on CEO compensation should be revealed to stockholders on a comprehensive and timely basis, that shareholders should have a say on how much CEOs get paid and the power to replace directors who are casual about compensation. Shareholders who complain loudly and often about CEO excesses should recognize that "the fault is not in their stars but in themselves". They have to stop looking to others to make things right and start voting with their shares rather than their feet.


Black or Brown Shoes w/Navy Suits

If you have a solid Navy suit, is there a rule of thumb for when to wear brown vs. black shoes dress shoes? Does it depend on shirt or tie color?

Before someone says it, there are plenty of threads. However, none that definitively provide an answer to my question.

Just tryin' to look great...


Age is just a number right?

I am 31 years old and live in Florida. I have a nontraditional career/education path and need some advice.


WSO Mobile Offers: Text "WSO" to 38470 and get...

If you text the 3 letters "WSO" to the # 38470, you will be entered to receive 1 special discount every month to WSO's products and services...these include WSO Resume Review, Wall Street Mentors, Financial Modeling Training, WSO Job Board, WSO Video Library and more...again, it's as simple as texting the 3 letters "WSO" to 38470 :-)

Thank you for supporting the WSO community,
Patrick


AMA: Consulting > F500 > bschool/startups

Hey all - been part of the community for several years now. Figured it was my time to lead one of these. Background: worked several years in management consulting before transitioning to a strategy position at a F500 company.


Financial & Valuation Modeling Boot-Camp

Financial modeling is a skill that any investment banking analyst will have to master. Although the majority of investment banks and other financial firms now have formal training programs, many students and prospective finance professionals are choosing enroll in self-study financial modeling training programs to look more competitive to potential employers and position themselves as a valuable asset to the firm from Day 1.

Wall Street Oasis presents 35% off Wall Street Prep's popular 3-day Investment Banking Boot Camps. ***NOTE: When you register with a .edu address the discount will be applied upon checkout ...if you are a student without a .edu address please contact Wall Street Prep directly. Discounts do not apply to seminars run by CFA Societies.***

If you can't attend a boot camp, train yourself with Wall Street Prep's popular Self-Study programs and get 15% off as a visitor from WSO! You won't find that deal anywhere else. If you are not a student, you can still get 15% off the live IB Bootcamps by clicking below.

Sign Up Here - 15% Off Special


End of elitism

Something I've witnessed working for almost 3 years in the industry is the beginning of an end of elitism in banking. I'm at a BB and it's not just ivy league finance majors getting in. No, we've hired some finance majors from nontarget colleges, there's even some marketing research analyst folk who joined us (I think they did some certifications in financial analysis). From the conversations I have with people in the biz, it seems like the trend is toward educational meritocracy.

Your thoughts? What's your experience like?


Covering For Other People - Any Good Stories?

I'm interning in acquisitions this summer for a REPE shop that does multi-family and retail value add. We had a bit of a staffing issue this week at a local property, so as the loyal intern I am, I'm covering today and all next week as an apartment leasing agent which is a liiiiiitle bit different than what I usually do day to day. Does anyone have any good stories from when they had to cover someone else's position? I'm hoping I have some winners by the end of next week.


Webinar Rewind - ​Investment Banking Internship Survival + Q&A

In case you missed our March 16th webinar entitled Investment Banking Internship Survival, have no fear. The full recording of the webinar can be found below (free until Saturday 10am et when it goes into our video library). Do you want to a 1 on 1 mentoring session with Anthony? Click below:

All rewinds will be on Monday / Wednesday / Friday.

SIGN UP WITH ANTHONY

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And, as always, if you want to sign up to hear about upcoming webinars before they happen, sign up inside the post...


How to get back into the industry after a year

Hi, I've been working in the industry for about 9 years, but I left my last role after my dad passed away in May last year and my mom the year before. I took it really hard and my family thought it would be better for come work for them. I've been working in a family business (non-financial services) for the past year but started to attempt to transition back into Finance Services, but it's been challenging. I feel a definite disadvantage because I've been out for almost a year.