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 colleges, there's even some marketing research analyst folk who joined us (After doing 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?


Webinar Rewind - ​A beginner's guide to perfecting your pitch (elevator and investor) + Q&A

In case you missed our March 10th webinar entitled ​Perfecting Your Elevator and Investor Pitch, have no fear. The full recording of the webinar can be found below (free until Thursday 10am et when it goes into our video library). Do you want to a 1 on 1 mentoring session with Lisa? Click below:

All rewinds will be on Monday / Wednesday / Friday.

SIGN UP WITH LISA

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


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Life after PE - the other road

As I mentioned in a previous thread ("How to Make VP in Private Equity"), a couple years ago I said goodbye to the private equity industry and decided to try my luck in the tech industry. Not as a VC associate. Not as an “entrepreneur”. As a programmer. Yep, you read that right. After thinking long and hard about what it is that I actually enjoy doing on a daily basis, I concluded that programming might just be my path to vocational bliss. I’m now a few months shy of two years into this little experiment, so I thought it might be about time to give you guys an update in case there are others out there wondering what “the other road” might look like.

I started the journey from financier to software developer by attending a 10 week JavaScript bootcamp in Boulder, CO. I picked that particular bootcamp because (i) it was focused on JavaScript which seemed to be on the rise, and (ii) it had a particularly good instructor, which I knew was what would make or break the bootcamp. Following my tenure at the bootcamp, I landed a gig as a developer at a startup founded by one of the bootcamp instructors. I spent a year there before the project pipeline dried up and the start-up’s status as a going concern became a serious question. I ended up moving back to LA (which is where I was living / working prior to making the transition to software development) and landed a new gig at another start-up (this time one that was venture backed).


NYC Escorts are Earning over $1K/hr Catering to Wall Street’s Elite

Nothing new here....from Elite Daily:

At least two New York escorts are able to charge $1,000 an hour for satisfying the needs of Wall Street bankers.

CNBC reports one escort, “Chelsea,” 29, moved from Canada to Manhattan 10 years ago to become an escort.


Here's what happened in the stock/bond markets last week (5/18-5/22)

Stock Market Analysis

While the Dow fell for the week, most major indices made progress but more stocks fell than rose in price. Small caps, as represented by the Russell 2000 rose 0.69% and we still have more than twice as many stocks hitting new highs as new lows. The market is clearly sending mixed signals as 5 sectors fell while 4 rose in price last week. Fortunately, all except Utilities have risen this year, with Healthcare leading the way, as it has for the last 1, 3, and 5 years.


Webinar: Banking Fit Interviews (Analysts / SA's / Associates) -- 730pm ET, 5/27/15

WEBINAR DESCRIPTION

Wall Street Mentor Prashanth will be hosting a webinar entitled "Banking Fit Interviews (Analysts / SA's / Associates) ", with a q&a session to follow. One of our top mentors, Prashanth is an industry veteran with experience in Investment Banking.

If you have any interest in learning more about whether Banking is fit for you, you should definitely join us on Wednesday.

WATCH HERE

If you missed the webinar, it will be available on the homepage for 24 hours (2-3 weeks after the initial presentation), before going into the WSO Video Library.

When: 
May 27, 2015 - 7:30pm to 8:30pm
Event type: 
WSO Webinar

The Best GMAT and MBA Business School Content on WSO

Mod Note (Andy): My mighty content intern compiled a list of the top 20 GMAT/B-School posts on WSO. Some of these discussions are no longer active but still are filled with GREAT info. If there are any ones we missed please link to in the comments. Enjoy monkeys!

GMAT
1. phantombanker's GMAT Study Guide
2. How I got a 770 on the GMAT with minimal effort while working banking hours…
3. 760 on GMAT -- Game Plan
4. 15 Steps To Mastering The GMAT
5. My GMAT Study Plan

B-School
1. What I've learned so far after 1 yr at a top MBA program (If I could do it over)


Be a Wall Street Oasis Contributing Blogger

Project description: Finance / Wall Street / Business Blogger
We are looking for several talented writers (professionals in the finance industry preferred) to blog for WallStreetOasis. There is a list of suggested topics you can choose from but if there is an area of interest/specialization you would prefer to write on we are very open to hear your ideas (ie trading/markets, street culture, advice/mentoring etc).

There are two options for contributing:

1) Become a regular weekly contributor. We only ask that you commit to 8 quality posts over 8-12 weeks (400 word minimum) More details will be provided during the training process. See instructions below for how to start our training (videos, doc, short quiz, phone call with Andy). Emails during the training may go into your spam and/or promotions folder, please make sure to check these.

OR 2) if you cannot commit to a regular schedule we are open to guest posts (either one post, AMA/interview, or a short series) on a particular topic, if you would prefer this way email me at [email protected].

Click inside the post for more information, testimonials, and to formally apply >>>


15 things I wish I knew as a first year banking analyst

Mod Note (Andy): This post originally went up 2/10/13 and is a must read for all those starting their FT roles

I was writing an email to a fellow monkey who is about to start as a banking analyst in the summer. It's been a little over 5 yrs now since I was a wee young first-year analyst in restructuring for one of the Moelis/Houlihan/Evercore type firms (I call them the firms where most people will still say "What?" and sort of nod their heads when you tell them where you work - thanks for validating my 80 hour work week - anyways moving on).

I really like mentoring and sharing knowledge for future generations - a lot of people have helped me along the way, and still are, and I really like WSO in general - there are giant gold nuggets all over this site from which I have benefited so I thought it's high time to throw one back in the pit.

Here's what I wish I knew as a first year analyst:


Is RE Development Right For Me?

​I've been considering giving up on my Wall Street dreams and pursuing a career in RE development. Better hours, less repetitive job duties, and more entrepreneurial opportunities for people without an 8 figure net worth make the field seem a lot more interesting to me.


2015 Investment Banking Interview Prep Pack PLUS...Special Deal

We're excited to announce that we have just created a special discount for our investment banking interview Prep Pack customers.

Our new 2015 "Plus" version of the package includes 1 year access to the WSO Video Library ($399 value) and 1 year access to the WSO Company Database ($360 value) for only $100 (which is a whopping saving of $659 vs. buying those resources alone).

This deal is only available to people who purchase or have purchased the IB Prep Pack. New clients also have the option to get the investment banking interview Prep Pack Plus deal by clicking here. Old customers can upgrade by clicking here.

Get the 2015 IB Prep Pack PLUS


Advice for a Wharton Undergrad exchange student

Hey guys,

I'm a student studying at Australia, I was recently offered to study at uPenn, specifically Wharton for one year as part of my degree.

My main concern at the moment is my financial situation (I come from a middle income family), my uni recommended to bring at the very least $3000 AUD for each month in the US. Even with scholarships and what not, it's still a big chunk of change. So I'm still undecided on this aspect.