"Go all the way down to the beginning"
From: WONG, Daniel
Sent: Friday, December 07, 2007 1:09 PM
To: FERNANDES, Alan; SINGER, Adam; KWOK, Alice; BUENO, Santiago
Subject: FW: Help.... Read this from the bottom up-its hilarious
Haha….here’s to all you folks who...
<em>Ugh. Why did she say no suit. Everybody has a goddamn suit.</em>
I'm fidgeting with my hands outside of the auditorium as I feel the countless glares fixed on the only freshman who was toolish enough to show up. To make matters worse, I'm sticking out like a sore...
By popular demand we’re doing a new overview, this time focusing on healthcare (Finally!). We’re going to keep this simple and stick with three basic buckets. 1) Healthcare Equipment, 2) Bio-Technology and 3) Pharmaceuticals. If there is a lot of demand for an additional space (or...
I've been a long-time WSO reader and have read countless AMA's that have helped me out along the way, and with FT recruiting in full swing I thought it'd be cool to share my story and give whatever advice I could to people in similar situations to myself.
So first I'll...
Students around the world: WSO is now accepting applications to be a Campus Rep at your school for the the 2014-15 school year. We are looking for motivated students with a solid work ethic and strong communication skills who are willing to commit for the entire school year (or remainder of if...
I recently received a question from a young monkey looking for a SA position. They asked, "what do you think gave you an edge over the other applicants when you interviewed for your current position?" Below is my response, but I am curious to see what other monkeys would have said....
<strong><em>Le Violon d'Ingres (French idiom): A second skill beyond the one by which a person is mainly known.<br></em></strong><br> A few years ago, I was young, green and eager to do well in my financial services consultancy role. But...
Given that we have built up relationships with hundreds of companies and finance recruiters, we thought instead of just a simple job board (which you can find <a href="http://www.wallstreetoasis.com/finance-jobs">right here</a>), we would also create a WSO Applicant...
It’s been a bad year for the NFL. Sure, they generated over $9 billion of revenue in 2013, but consider the scandals and controversies of the past year alone – Ray Rice, Adrian Peterson, the Washington Redskins, concussions and player safety, the fact that the <em>Jacksonville...
A <span class='keyword_link'><a href="http://www.wallstreetoasis.com/company/wells-fargo-and-company">Wells Fargo</a></span> employee sent an email to the CEO, John Stumpf, he also CC'd 200,000 other <span...
<strong>Project description: Finance / Wall Street / Business Blogger</strong>
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...
I'm curious what you find to be major selling points of an undergrad education. The University of Tennessee told me they have 12 Bloomberg terninals in their business college, and I will receive a Bloomberg certification upon graduation. It sounds really nice, but is this common? There is also...
when costs such as
Software development (internal)
Software development (purchased)
when are the <strong>checks</strong> written for payments? when and as, reported in the cash flow...
Currently a senior at a non-target and I will be graduating in May. I have two previous internship experiences at a small PE group and a boutique <span class='keyword_link'><a href="http://www.wallstreetoasis.com/forums/searching-for-a-summer-internship">investment...
Do private equity firms ever buy, or would ever consider, an alternative deal like buying a multimillion dollar inventory of cars, if they knew they could resell the inventory at a much higher amount then they paid? ...
First time poster, but thought you all might enjoy this.
A friend of mine is a first year analyst with <span class='keyword_link'><a href="http://www.wallstreetoasis.com/tag/moelis">Moelis</a></span> NY. In addition to getting crushed himself, it...
<em>Throwback Thursday: This was originally posted July 2012</em>
This is all representative of commonsense (but ultimately bad) advice I got during undergrad and followed blindly during <span class='keyword_link'><a...
I'm a newbie, and I'm looking to start a career in <span class='keyword_link'><a href="http://www.wallstreetoasis.com/guide/consulting-case-interviews">management consulting</a></span>. I have some experiences working in the financial...
I know this topic has been discussed before but I'd like to get some feedback. I've been lurking this site for years and have always found it helpful.
I'm trying to decide between the Part-Time MBA programs at Northwestern Kellogg and Chicago Booth. I've been...
Throwback Thursday: This was originally posted July 2012
This is all representative of commonsense (but ultimately bad) advice I got during undergrad and followed blindly during internships. I sorted it all out by the end of my analyst program, but this was frequently accompanied by discomfort, late nights, and general suck.
You might disagree with my stance here. In fact, if you do, feel free to tell me in the comments. I'd very much like to hear that there are workplaces where the following work habits are rewarded rather than punished.
1: Turn changes as quickly as possible.
This is sometimes a recipe for disaster. The earlier you finish, the more time your boss has to second-guess everything. If you know your boss will iterate until the last moment and beyond, it often pays to build in a small amount of downtime for yourself. The finished product will be just as good (or bad), and you'll be slightly more rested for the next shit show they throw at you.
2: Never turn down a project.
Good general principle, but don't be dumb about it. It's nice to accept projects and workstreams up front from a wide variety of people so that your big workload is evident to all. This reputation can last a lot longer than the workload itself, giving you a chance to pick good projects and do well on them. On the other hand, use this reputation to parry anything likely to turn into a fire drill.
One of the biggest problems with having large corporations as clients is that there’s so much crap you’re not allowed to invest in actively in order to prevent any potential allegations of insider trading. There’s also a bunch of rules and paperwork that, honestly, few bankers have time to keep track of.
As a result, a lot of bankers just stick their money in ETFs (or a nice piece of Hamptons real estate) and forget about it. (I admit it, most of my money’s in ETFs right now.)
But let’s face it, we all know that you haven’t made it until you pay more in capital gains tax than in ordinary income tax. Passive investment is boring and is largely for betas and scrubs whose 401(k) is their largest source of liquid capital ( psssh!).
Mod Notes (Andy): this was originally posted on 9/26/12
Interviewer: "So... what's your biggest weakness?"
To be honest, I think the biggest weakness question is one of the most bullshit questions you can get during an interview. But people keep asking it, so you’ve got to have a strategy. There are some shops/industries where the best strategy is truth. In most banking/PE interviews, not so much.
My favorite way to answer the biggest weakness question is to imagine the interviewer at their job and think about what they would relate to most strongly. Then I build an answer starting with, “I get impatient/frustrated when....”
Mod Note (Andy): Throwback Thursday: this was originally posted September, 2012
Guys, I'm back from four days spent recruiting at our top targets. Thought I'd share with you how a ballsy college junior with a 3.2 GPA and no internships who met me at an employer information session was able to skip straight to final rounds.
That's right: she figured out how to skip the resume screen, the phone screens, the first-round OCR, and the rest of the process we design so carefully to weed out all but the most competitive talent.
First, she was tidy, friendly, and professionally-dressed. She waited for the first wave of post-session aggression (see my last post for a description of the EIS hustle) to ebb away. She then stepped right up, shook my hand, and said, "I need advice. Could I have a moment of your time?"
Mod Note (Andy): Throwback Thursday: this was originally posted 6/11/12
There are some segments of the economy in which it takes a douchebag to drive value. (This is unfortunate, but empirically observable.) And Auntie Bankerella is worried.
See, over the years I’ve seen douchebaggery decline little-by-little, both on WSO and in my work life. You young monkeys currently entering the prime of your douche years are just not as douchy as we were back in the day.
I’m not saying it’s your fault. Few people achieve their full potential of douchiness naturally; it’s something most of us learn by emulation. Which means my generation hasn’t properly schooled you guys.
Mod note (Andy): Throwback Thursday - this originally went up Aug 2012 while most of you were still playing jv hopscotch. If you haven't read Bankerella's posts, go through each and every one of them now, they're fantastic. fwiw this post also went up on CNBC. Enjoy!
Okay, today's advice comes with a dirty little secret.
One thing a banker girl (or any 20-something single chick working 80+ hours a week in a stressful environment) needs is the ability to occasionally have some fun with with very little advance notice and with no strings attached.
(Sure, the perfect girl is a bastion of sexual morality and never dates anyone casually, but that's just not relevant here.) So as a banker chick, you need to get maximum hedonic return on the few hours you have left to yourself, and let's face it, those hours aren't enough to gently nurture a budding but delicate relationship. You need to be strategic about how you use that time, so you need to find people (or a person) who can do the same.
If you're reasonably hot, you'll have no lack of candidates for the role. It's like a resume screen: you need to apply some sort of quick initial test to focus in on candidates who are more likely to be rock stars.
So here are my rankings, based on my own experiences and the experiences of a few friends.
Mod Note (Andy) - Throwback Thursday - this originally went up July 2012
A while back I mentioned that during the two years of my MBA program at a top-5 school, I'd put a star next to every note I took that I thought was worth carrying forward into my future career.
When I moved on, I threw away the 18 handwritten notebooks, but not before compiling all the starred stuff into a document. Depending on how you look at it ,you could say this document cost me nearly a quarter million dollars (not including opportunity cost). Disappointingly, it is only 11 pages long... and that's double-spaced.
A couple people have since written asking me for the document. It's a pretty personal list, so I can't do that. But I will share a few juicy tidbits here.
Mod note: "Best of Bankerella" - this was originally posted 6/22/12
Do you want to go to a top b-school? You should have a 99th percentile GMAT.
This is hugely controversial. I have no idea why. If you’re already assured of getting into your top school because you’re so awesome or your dad’s name is on one of the buildings, go ahead and flame me. This post is not for you. If you already got into your top school with a sub-99th percentile score, awesome -- but this post is not for you.
If you currently lack certainty around getting into your top school, here's why you need a 760+ score:
Also, I should say that I got no dog in this fight and couldn't care less where the talent comes from. Just trying to get some hard data out there so that, in the future, people can use it as an objective data point as they consider life choices. And so that working professionals can get back to doing what we truly enjoy doing on WSO: dicking around.
~10% of all individuals in the sample:
Georgetown (Yes, I was surprised too. I scrubbed these numbers personally and stand behind them. I am also not aware of any bias in the sample that would cause this. I think Georgetown might actually place more than anywhere else. Thoughts?)