5 Key Points to Landing an SA Internship

So, this is it for me. I accepted an offer and am done with SA recruiting. It definitely is a grueling process, but it pays off in the end with a bit of luck. Just wanted to share my advice from things I have learned throughout the process. By no means do I think I'm an expert or that I know more than the next guy. Just wanted to give back to the site.

Here are the 5 Key points that helped me land the offer:

1) Networking
If I could give one piece of advice, it'd be to set up a call and pick up the damn phone. I thought I had an "in" with the banks where I met someone at an event, got their card, and followed up with a thank you email. I now realize that doing this is simply going through the motions. When resumes are being pulled, no ones going to think "Oh, this kid sent me a great thank you email, he's getting an interview!" The places that I picked up the phone and showed my interest in a group or a firm are largely the ones that I got interviews at. Plus, it is great to be able to say first hand that you spoke to X, Y, and Z, and that they reinforced your interest in the firm.

How I Learned Not To Trade Like A Noob

So we've finally made it, the third and LAST installment of the 7 Reasons Why You Still Trade Like A Noob and as promised, I'm going to share my transition in thinking from an amateur to a professional trader based on Marketkronicle's infograph. Again, I hope this helps all you noobs out there so read on to find out what I've learned about the trading business...

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Top 10 Rankings: Useful Designations

Morning monkeys,

Like many of you on WSO, I'm studying for yet another CFA exam (level 2, yay?) and as I'm shaking off the cobwebs in my brain I find myself wondering: is this the best designation? The answer is simple: no. But that's simply because there is no "best" designation, but there are "useful" designations which is what this list will hope to capture. That being said, is the CFA charter a particularly useful designation? Yes and no. It's well regarded in many areas of finance and business, but that's about it. There are many aspects of a designation that need to be considered when determining how useful it is, for example: Can it get me a job? Can it get me promoted? Can official documents be signed by someone without said designation? Getting your CFA charter will probably help with the first, almost certainly with the second, but not with the third. These are always things to consider when pursuing a designation.

Now, some ground rules, we'll limit ourselves to the job functions on WSO. Sorry JD & MD, you won't be considered. However, graduate level degree programs will, but only in the broadest sense (i.e. only "MBA" will be considered, which means both "University of Phoenix MBA" and "Wharton MBA" are in that category). Naturally, everyone's rankings will vary depending on their background and career preferences, so feel free to list your own!

On to the ranking!

The Ominous 2 degree change…

The planet has been here four and a half billion years. We've been here, what? A hundred thousand? Maybe two hundred thousand? And we've only been engaged in heavy industry for a little over two hundred years. Two hundred years versus four and a half billion. And we have the CONCEIT to think that somehow we're a threat? That somehow we're gonna put in jeopardy this beautiful little blue-green ball that's just a-floatin' around the sun?

A 3D View of the S&P 500: Price, Time, and Markets

There are lots of valid ways to look at the market. Obviously price is important, but a number alone (e.g., 1487.85--Feb 25th‘s S&P 500 close) doesn’t mean much. Price related metrics like percentage changes and support/resistance levels add value, but adding time as a factor enables some really interesting measures like moving averages and momentum trackers. My favorite time related metric is term structure--how the prices of various options and futures vary depending on their expiration dates.

I Am The Toxic Asset

This was originally posted on 2/28/12

There comes a certain risk involved with divulging one's personal troubles all over the internet where potential employers could read it and make all sorts of judgement. However without some risk, there is no return as everyone on here should know by heart. That being said, I'll take the risk to make the larger point.

I'm possibly getting sued over my student loans.

Can You Survive "Spent"?

mod (Andy) note: "Blast from the past - Best of Eddie" - This one is originally from February 2011. If there's an old post from Eddie you'd like to see up again shoot me a message.

What are kids at non-targets who don't network going to do when they graduate?

Moderator Note (Andy): This was originally posted in June 2012.

Everyone knows those kids who go to non-targets who do absolutely nothing to help their job situation and freshman summer or sophomore summer don't do anything, but maybe get some manual labor job at best (cashier, waiter, etc...). Many of them probably have average grades and just party a lot.

Kids at targets and semi-targets are fighting skin and bones for top BB gigs and MM offers. Even so, inevitably some kids at targets and semi-targets get screwed. The majority of people I know at non-targets don't think about networking and really the uphill battle they face to get good jobs. So with the economy so brutal, what do those at non-targets who don't network do?

Can you renegotiate an offer?

I accepted an offer from a BB, but just got a much higher offer from a MM firm. It is a statistically significant difference of pay, not like 1 or 2 dollars.

Is there any way to renegotiate the BB offer without seeming like an asshole?

Shameless WSO Plug

It's Friday folks, I'm a little bit burned out, and I didn't have any specific topic planned for this afternoon. So this post will be a little meta: a post praising WSO...on WSO!!!

Seriously, at some point this month -- I think in two weeks, but don't quote me on that -- I will reach my one year anniversary with WallStreetOasis. It's been a great run, and I owe the vast majority of my success -- small as it has been so far -- in the financial services industry to this site and its "regulars".

Interview with an Equity Research Associate (Part 2/2)

The following is an interview with Equity Research Associate IntoTheRain (he is also available to answer your questions)

Are you a professional and want to do an interview? View our interview template here and then email me your responses to [email protected]

General Advice

  1. What is the one tip you would give to current students (ugrad and/or grad students) to help them succeed?

    You'll get a head start if you get involved and make an earnest effort to build relationships while you are still at school.

  2. What are some tips for moving up and becoming "the boss" (i.e. a department head / managing director / partner)?

    Work hard and don't fret over immaterial issues. Make an effort to socialize with others and don't just bury your head in your excel. There's no benefit from sulking when you don't like something. If you consistently just get your shit done without drama, the expected value will be positive in the long run.

  3. Any specific cold-emailing or cold-calling tips you can pass on?

How to Save Your Weekend

Make sure to see rufiolove's comment part way down...

Given that it's Friday and I'm looking to finish up some work and get out of here myself, I'm going to keep this short and sweet.

When you first start in banking, you're pretty much stuck. I wouldn't risk the political capital and references for buyside to do any of the tongue-in-cheeck tips I'm going to recommend below. Just pay your dues and get used to having your weekends ruined.

However, once you secure an offer or you're in your second year, here are some tips to salvaging your weekend (yes it also works on the buyside).

1. Make sure you have a list rehearsed on what you have going on this weekend. Most likely someone is going to ask you what you have going on this weekend. Instead of saying "Oh I was going to grab dinner with friends" you should just rattle off your work list and then interrupt yourself by saying "Oh that reminds me, I have to go check something"

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