In Response to “20 Things 20-Year-Olds Don't Get”

Mod Note (Andy): #TBT Throwback Thursday - this was originally posted on 9/15/13. To see all of our top content from the past, click here.

Jason Nazar, a contributing writer for Forbes, wrote a column last month detailing the "20 Things 20-Year-Olds Don't Get." (Read Here: http://www.forbes.com/sites/jasonnazar/2013/07/23/...) I'm sure everyone around my age appreciated the condescending and generalizing advice, because of course, as a generation, we are not only all identical but also collectively "just don't get it."

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How Bad Are the Politics at Your Shop?

Mod Note (Andy): Best of Eddie, this was originally posted in October 2013.

Like many of you I'm sure, I was a bit shocked to hear of Simon Warshaw's retirement from UBS on the heels of the massive Vodaphone deal. Part of me says he's just going out on top after 27 years, but another part of me thinks it doesn't add up. I mean, why leave months before bonus season when you've just closed a monster deal?

Evidently I'm not the only one to think that. According to Sarah Butcher, it may have been office politics that drove him out, and she goes on to wonder if UBS has become the most political bank on the street. That got me thinking about office politics and how it affects all of us on some level.

I'll be the first to admit that I'm not much of a team player. Well, let me back up a minute. If my team is comprised of intelligent, driven individuals like myself, then I imagine I could pull it off. I just haven't encountered that scenario in the corporate environment. And because I don't always play well with others, I've often borne the brunt of office politics.

New WSO Blogging Internship!

We are looking for several talented student writers / young professionals to contribute posts to WSO with the goal of raising the level of quality of content in our forums and on the frontpage.

Internship title: Finance / Wall Street Blogger Intern

Timeline We ask that you commit to post either 20 shorter discussion style posts or 10 blog style posts (or a combination of the two) over a period of 10-14 weeks.

How this differs from our Contributing Blogger Program: This internship is geared more towards students and recent grads. Obviously you have less experience than professionals to draw on for your posts so we're looking for more of a discussion starter style of post. More specifically we want you to research and post up a hot topic relevant to WSO's audience, summarize and/or quote your source, briefly state your opinion, and then open it up for discussion. You will go through the same training that the bloggers go through (instruction doc, videos, short quiz, test post and then afterwards we will set up a phone call to discuss the internship more in detail.

What you will write on:: Hot topics in the financial/business/Wall Street news and other topics relevant to WSO. There is a list of suggested topics you can choose from but if there is a topic of interest you would prefer to write on we are open to hearing your ideas.

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The Best Networking, Cold Calling and Cold Emailing Posts on WSO

My content intern @Lucas_M is at it again! This time the top ranked (by silver bananas) posts related to networking, cold calling, and cold emailing. Enjoy! p.s. Need more networking advice? Check out our Networking Guide.

1. Cold-Emailing Guide.

posted by @Culcet

1) Background info- Contact people with a similar background. Don't limit yourself to alumni- think deeper. Think about what defines you on a superificial level. If you go to UCLA and want to work on Wall street, email Cal alums in New York. Williams College? Why not email alums that went to Swarthmore, or any other liberal arts college alum that might have had to teach himself the technicals? And if you're a non-target... email other non-targets. Simple. Emailing someone with a similar background reminds them of themselves. They are therefore that much more happy to help you. Remember though, you are entitled to nothing, and even if the guy is a complete d-bag, thank them in a dignified manner anyways.

2) Content- Keep the email short and sweet. I usually send emails explaining who I am and what my intentions are, a sentence explaining my "story, and then a graceful thank you. For what it's worth, the whole 'copy and paste' thing has never been a big problem for me at the bulge brackets. For boutiques, target carefully based on the advice above and try not to email too many people. Again, if you target the right demographic, this shouldn't be a problem.


- silver bananas: a lot

2. Keep In Touch! Networking Template
posted by @valuationGURU

The Best Success Stories on WSO

Patrick and I (among others) LOVE hearing your guys' success stories, so we said "hey why not make a post of the top ranked (most silver bananas) stories?!" Well... thanks to my whiz kid content intern @Lucas_M, here they are! Click here to post your own success story, we'd love to hear it! (Make sure to post in the "Success Story" Forum).

1. How I got into Banking
posted by @CompBanker

Try to get relevant work experience. As a Computer major, I had a number of internship in "computer" roles, but nothing in finance. I found a boutique bank that was willing to take me onboard part time during the semester. Not many people are willing to work during a semester for free. I set up my work hours around my classes and agreed to come in on the weekends as well. All in all my internship eats about 40ish hours a week.

I think this internship was really the thing that made it possible for me to secure interviews. By working the equivalent of a 9 - 5, while simultaneously taking a full course load, I was able to prove to banks that I could handle the hours. Not to mention I proved to myself that I was capable.

- silver bananas: a lot

2. Finally an offer! A story of persistence
posted by @brutalglide

Do the Rich Work Harder?

"Blast from the past - Best of Eddie" - This one is originally from December 2010. If there's an old post from Eddie you'd like to see up again shoot me a message.

Sorry for the delay this morning, guys. I'm back in the States and writing this from a CC's coffee shop in New Orleans. It's good to be back in the ol' U.S. of A. Anyway, this is a conversation I've been wanting to have on the site for awhile. Do the rich work harder than the poor in America, or are they just lucky? This Journal article from late September lays out the case.

According to Virgin's Richard Branson, luck has more to do with it than hard work. I can't really say for sure, as I've done fairly well in life and I've worked very hard (at times), but I'm also the luckiest bastard I know. If past is truly prologue (and I believe it is) then being rescued as an infant from a London orphanage by an American family had more to do with my success in life than anything that happened after that. And no one, least of all me, could ever claim that wasn't anything but a giant stroke of unbelievable luck.

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Who Is Rich?

Mod Note (Andy): Best of Eddie, this was originally posted in September 2010. To see all of our top content from the past, click here. If there's an old post from Eddie you'd like to see up again, shoot me a message.

Who is rich? This is the perennial question in any progressive tax scheme. Where you draw the line makes a big difference to a lot of people. With the sun about to set on the Bush tax cuts, the debate is raging online, and I wanted to find out what you guys think. First, the preliminaries:

Those people making $250,000 a year or more seem to be the targeted income level to be considered "rich" in America. But they'd be the first to tell you that they're not. Two recent news pieces have the debate raging. The first was written by a Chicago law professor. I guess it was so incendiary that the original piece was taken down, but you get the gist from the above link. Even at $455,000, the good prof is barely making ends meet.

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