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Quitting Smoking

Fuck. I set a goal to quit and fail every time. I resolve to stop smoking almost daily. I state it out loud and humiliate myself within 24 hours. My stupid brain seems to...

Valuation Series - Part One - Asset Approach

In this five part series, I will be running through various methods used to value companies. The first part of the series is about the asset approach.

The asset...

Getting an Offer in the Middle of the Summer

I've asked a few people and nobody said it was something they've heard of very often, so I'll ask the WSO community. Yesterday I got an offer to come back for full time with...

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How long have you been job hunting?

Dear Monkeys,

4 months ago, I was fired based on not meeting work performance of the company. This was a sudden shock and totally caught me blindsided. Since then I have applied to 200 jobs that actually fit my background. I have a created an Excel spreadsheet of how many jobs I apply per day and have been doing this since looking for a job.

Last month, I paid $250 to get my resume and cover letter professionally written. Yes, I know I paid a lot but I don't care. The resume and cover letter are SO MUCH better and it has given me an advantage (I like to think so). Just this month alone, I have received 4 phone interviews. For 3 of them, I didn't even receive an on-site interview (Yesterday, I got rejected for an AM position, and today I got rejected for an energy company). I'm still waiting for the last of the 3, which I feel good about, but I don't want to get my hopes up high.

My MD was Sleeping with an Analyst

The most fucked up thing to be around is when your MD is sleeping with an analyst. She gets special treatment such as never having to work late; never responsible for any ofher...

Compensation overstated before I took my job

So before I accepted my offer at my current position, I was offered a low base for my job. I really don't wanna get into specifics because who knows who the fuck is reading this. I told my boss before accepting the position that I did not know if I could live on such a low base and survive until I got my bonus. I was told by him that the base was understated and that because of various factors, my base would be 30-40% higher than I was stated in my offer letter.

I went to talk to him about it a couple of weeks, and he said, what's the problem you should be pulling down X amount per month. Well, his X amount is 2 times the amount that I actually get paid. Pretty much told me there is 'nothing he can do' I am having trouble paying my bills.

Get Off Your Ass

I know that some of you on WSO (from reading posts) spend a few hours a week at the gym, but apparently fitting in exercise into your busy professional lifestyle does not negate 80+ hours of sitting while your "arteries cram", according to Bloomberg Businessweek .

Could You Unplug for 24 Hours?

Andy note: "Best of Eddie" - while Eddie is on vacation we're throwing up some of his classic posts from the past. This one is originally from March 2010 . If there's an old...

Is there any future for salepeople ?

Hi,

I know that there have been several topics discussing this matter but I recently met with a senior sale associate (let's say 6 years in the business) and he was very pessimistic about the future of sales. He saw a lot of his coworkers being fired because of the crisis but also because of algo programs.
I told him that if cash equity and every vanilla products sales were really in danger I can't imagine complex credit/equity derivatives being traded on electronics platform.
He answered that now most of this products (and more and more) are traded in blackpool and that developing platform that can handle such products are all the rage now (Blackrock is trying for example).
He said that he couldn't see a future for sales and was looking for a transition to private banking .

Is there a term for "Bulge Bracket" consulting firms?

Is there a term for the top 5 global / largest firms? Not necessarily MBB , but including booz and others.

Looking for something analgous to "Bulge Bracket" in banking...

Need A Job? Consider Moving to Brazil.

Yesterday, there was a post by another author discussing the possibility of moving to Singapore. Today, we will discuss the possibility of relocating abroad to another major...

UPDATE: Operations: Best Decision I've Ever Made

This was me two short months ago.

I would like to start by apologizing to the entire WSO community for trying to argue with what decades of Banking wisdom had taught the finance community; as it turns out, Ops is fucking shit!

However, in an attempt to retain some sense of pride I still disagree on the reason why it is shit. In my opinion, its not the lack of prestige (I'm not that big into ego trips) or the mind numbing work (from what I've heard IBD can get very monotonous; to me, its the lack of structure.

Will The Blackberry Expire?

Investment banks are known to hand out Blackberry phones to their analysts. There have been a couple of older articles regarding some banks switching to iPhones but most banks...

Hard Cold GMAT: You need to screw up faster

Time to share one of my most useful mantras: Fuck it up faster. This mantra alone got me (and one of my two students) from the low 700's to the mid-700's. Warning: if you're already 750+, do not use this. It may hose you.

You get roughly two minutes per question on the GMAT math section. This section is designed to keep shifting you into higher and higher gears until you reach a problem you can't solve in two minutes. In fact, the whole GMAT is designed to make you screw up... and it will succeed. The key is learning how to screw up like a 760+ student and not like a 700 student.

Stub-Bonus Bananas - June 29, 2012

Happy Friday, folks. I've got a fresh batch of Stub-Bonus Bananas for everyone to digest. Obviously, the biggest story of the week was the Supreme Court's ruling on Obamacare,...

Stupid idea but can't see why it doesn't work

Go to bank A: open student account (as genuine student). Take maximum interest free overdraft in cash and put into an ISA (or similar interest bearing account, can get 3-5% on small amounts from a quick internet search, if you don't touch the money). Cut up the bank card/get a block placed on the account so no other transactions can take place.

Repeat for every bank you know. At least 10 public high street banks in the UK can do that, you probably have way more in the ex colony. student overdrafts are around the PS3000 mark. Say 2,000, conservative estimate, 4% interest, for 4 years of university., = PS800 free money per year, or over PS3k per university fee. Will pay for your first year of rent.

Should I go to law school?

So I did some research and realized that a lot of people (particularly on WSO) say that corporate BigLaw is very dull and exhausting with much lower pay than Ibanking, and that many people in BigLaw end up regretting their choice and wishing they had done Ibanking instead.

The thing is, I think that my skill set is ultimately better suited for law than for banking. I am mediocre at accounting and have never been good at math/statistics, but I am very good at writing essays. Also, I'm at a non-target (top 25) so chances of landing a BB front office position upon graduation are slim even with networking. On the other hand, if I score high enough on the LSAT , I can get into a top 5 law school and make more than I probably would upon graduation from my current UG.

Why You Should (And Shouldn't) Ditch Your Financial Advisor For A Computer

It's no secret that technology has taken the place of humans in a number of different forms over the years. The EZPass has replaced toll booth collectors, military drones have...

Yet more fun with resumes

Since I'm now recruiting for a boutique wealth management firm rather than a bulge bracket investment bank , I'm seeing a whole new type of resumes. Some of them are quite...

Trade Idea: Best Buy

For those of you that haven't been following the drama unfolding regarding Best Buy and founder/former Chairman Richard Shulze, the electronics retailer that we have come to know and hate could be on the block.

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