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Barboone's blog

It's Official. Good-bye IB, Hello S&T.

Barboone's picture
IB
 
Points)
 on 8/26/11 at 9:38pm
fu

I've been playing the associate role in IB for some time. I can not stand I-banking, It is as boring as watching paint dry on the wall. I'm sick and tired of being a middle man between my MD and the analysts. And never mind the VP, what is the point of having a VP anyway?!?!

About a month ago a door was opened into a world I did not know existed. The bad boys club "so-to-speak". An MD in Sales and Trading opened a spot for me at his desk. He explained their pay structure and how much money his junior VP (who happens to be my age) is taking home every month.

Drop outs and non targets. (How to make stupid money on Wall Street)

Barboone's picture
IB
 
Points)
 on 7/7/11 at 3:32am

So you want to work on Wall Street; but you have a terrible gpa from a non target school?

A six month slavery stint is calling your name! Today I came to find out there is people in retail making seven figures a year. That's more than your MD at Goldman's TMT top bucket bonus. Forget about the private equity MD. The only thing that makes more money is a hedge fund.

Essentially this is what you need to do.

Connect for your boss boiler room style (Remember this is all legal; don't get stupid ideas now).

Get licensed and SELL stock a lot of it and all day long. Have someone dial all day for you all day long and sell good stock (that goes up).

How did I get here? Synopsis, and what its like

Barboone's picture
IB
 
Points)
 on 5/17/11 at 12:31am
reflections-how-i-got-here.jpg

My story might be a little different from most of yours. I decided I wanted to work on Wall street 2 years ago. I went back to school, networked my ass off and landed an seasonal job at a BB in retail brokerage for businesses. I kept networking and met an investment banker who was retired. He told me he knew a lot of people and would get me an SA at a mm. Worked for a lil quant fund before it went belly up. After said Ibanker's wife took half his nerworth he decided to go back to work at a boutique with a jaw dropping book of clients.

In response to don't go to college right away.

Barboone's picture
IB
 
Points)
 on 2/10/11 at 6:46pm

In response to Edmundo's post I will tell you guys my story. And what I think about college right after High school.

After graduating highschool I took some no credit courses in sanitary engineering [think plumbing, airconditioning, heating and other mechanicals].
By the time my friends were in their sophomore year of college i was already pulling in somewhere around 60k. by the time they graduated I was pulling in 130k after taxes. After 4 years I realized there was a cap on my income. So based on the level of stress to money I had I decided to persue a career in finance (my stress is worth more money).