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Wall Street Oasis » Blogs » jntheriot504's blog
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Finding Happiness Outside of Finance
 

jntheriot504's picture
jntheriot504
      O
 
(Senior Baboon, 196
 
Points)
 on 3/4/13 at 11:00pm
Buddhists.jpg

Finding happiness in our lives is a state of mind we all seek, yet we often uncover that it is difficult to truly achieve this mental state. Culture has dictated that to truly be happy with must first be financially secure. This is true to a certain extent however what is the proper amount we need to be financially secure? Determining the correct amount is obviously a personal choice but understanding what brings you happiness will allow a more accurate number that is actually attainable.

However, the first obstacle we confront is establishing the moments in life that made us truly happy. Studies have shown that family, travel (experiences) and philanthropy create lasting happiness. These are quite simple to understand and accept however many of us still seek to earn more money thinking it will make us happier even though family, travel and philanthropy can occur on a decent income e.g., $45,000. The question then remains,what drives us to work longer hours in order to earn a larger paycheck?

Part of the problem I believe is our cultural need to acquire an unnecessary amount of needless items as a status symbol of success. Nothing could be further from the truth. Couples who are married have been shown to lead happier lives; those who are married for the correct reasons. However, those aspiring to work jobs that require 100 hour work weeks will never have the time to actually meet someone or they never will be able to spend quality time with their significant other, negating the purpose of marriage, solidifying the statement, married to their jobs.

On the other hand it is understandable that some people do not want to get married, but people do find lasting happiness through their memories in which they have traveled, gone into the world and experienced it firsthand. Once again American culture has dictated that taking a significant amount of time off and away from your career is a sign of unreliability, non-career driven. Though the people I have met while traveling have been doing so for three to twelve months and were the happiest, most interesting people I have ever met. Confirming the idea that travel is more than ten days spent away from the office, but a way of life in which we continue to explore not only the world but ourselves in the process.

Furthermore, in our busy lives most people do not want to spend their free time doing volunteer work. Moreover, philanthropic work is usually reserved for the super-wealthy but volunteering at a local organization during your spare time is technically philanthropic work and equally as rewarding. Giving back under your own freewill fulfills your life with meaning that cannot be found in the office. Spending more time in the office has never brought anyone a greater sense of satisfaction. Devoting a few hours a month to a cause in which you believe in will provide your life with a non-monetary purpose, which cannot be quantified.

Overall, family, travel and philanthropy can be done together. Working holidays (outside of your company) is an idea that is foreign to most Americans. Yet, many developing nations have organizations seeking volunteers to devote as much time as they are willing to give. Flying to Uganda with your spouse for a month working with children who were once soldiers will create lasting memories, a true sense of happiness and realign your moral compass. Nevertheless, most of will continue to work long hours in our office jobs in search of the all mighty dollar but the question remains, why do we continue down this path knowing happiness is found elsewhere?

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Tags:
  • #working hours
  • #money
  • #happiness
  • #fulfilment

Comments

SlikRick's picture

I think there is a lot to say

SlikRick
      CO
 
(Senior Orangutan, 455
 
Points)
 on 3/2/13 at 4:59pm

I think there is a lot to say about being financially secure. I aim to travel, do philanthropic work, seek new adventures in life, etc. However, given my risk-averse personality, I can't see myself doing these activities until I'm financially secure. By working hard in your 20's, you set yourself up for a much more enjoyable 30's. Compare this to friends who work standard wage jobs in their 20's, get married/have children in their late 20's, and have to work twice as hard in their 30's to keep up their lifestyle. For me, there is an end-goal in mind: Make enough money so that if I were to get pulled over by a cop and written up for a $400 ticket, that it wouldn't impact my mood or day. That I could call it a mistake and be done with it. On 45K a year, you'll definitely have to reassess your spending that month. I make a decent living, but getting pulled over still makes me rethink if I should rack up a bar tab or try that nice restaurant the following weekend. Until then, I'm getting back to this PowerPoint deck.

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koopatroopa's picture

Happiness is probably the

koopatroopa
     
 
(Monkey, 33
 
Points)
 on 3/2/13 at 5:06pm

Happiness is probably the higher goal, people want to make more money to be happier, not the other way around. But financial security prevents you from being miserable (can handle things if something unexpected comes up without stressing too much.

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lbreitst's picture

I'm sure many monkeys like

lbreitst
      PT
 
 
(Senior Baboon, 238
 
Points)
 on 3/2/13 at 5:17pm

I'm sure many monkeys like myself find themselves trapped in this paradox. We push ourselves as hard as we can to make money and achieve happiness, coincidentally sacrificing happiness and developing the inability to be happy with what we have in the process.

I think this is because our brains are wired to do so and I think they are wired this way because of how strong our culture and our evolutionary ways press this upon us. We grow up in a world that stresses materialism and the "pursuit of happiness" rather than the Buddhist culture of finding happiness in an absence of materialism. The whole culture of Wall Street is based upon the myth of working your ass off and doing anything to live the big life of models and bottles which is supposedly when happiness is finally reached. I find myself trapped in the pursuit of doing whatever it takes to "succeed" at the cost of happiness, yet even though I realize how wrong this is it is hard to break the impression our culture has made on us.

Also, I think there is some evolutionary aspect to it where by nature the fittest push themselves the hardest. Being happy and content with mediocrity does not help one's survival, so I think we're somewhat instinctively wired to constantly look to better our situation. If mankind was wired to be ok with the status quo, cavemen would have had problems upgrading their living conditions, hunting techniques, and technology.

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islandbanker's picture

jntheriot504: Though the

islandbanker
     
 
(Orangutan, 257
 
Points)
 on 3/2/13 at 5:35pm
jntheriot504:

Though the people I have met while traveling have been doing so for three to twelve months and were the happiest, most interesting people I have ever met.

This is a generalization that does not hold. I have met these types and many of them seemed to be leading a questionable existence, were moderately happy, and didn't appear too interesting. Traveling for the sake of traveling does not make one inherently happy or interesting.

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IamObama's picture

What if winning and being the

IamObama
      ER
 
 
(Gorilla, 621
 
Points)
 on 3/2/13 at 6:38pm

What if winning and being the absolute best at what you do makes you happy? What if winning is the fix you need. What if you work so hard not for money, but for that high you get off of being the absolute fucking best out there. Why do you think sports athletes work so hard? What is the true motivational factor for the best players out there (think Jordan, Mo Rivera, Tiger Woods)? Is it the money? No...of course the money is important, but they aren't driven by money, they are driven by being the absolute fucking best, and which is why they work so hard. Not everyone just works hard to make more money....

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Tommy Too-toned's picture

Relationships are probably

Tommy Too-toned
     
 
(Gorilla, 505
 
Points)
 on 3/2/13 at 11:26pm

Relationships are probably the biggest determinant of happiness. People pursue jobs and money to surround themselves with people with similar interests. The reason you found the travellers interesting is because they had similar values to you. If you don't want to be a banker or lawyer or doctor, there are going to be people out there who make judgements about you, and they may very well be false. You'll just have to take it in stride and find people who are able to see past it. Americans have certainly glamourized professions like law and banking and it's easier to earn the approval of others if you take that path. It's all relative though. If you go to some places in Europe, South America etc it's not like the cute girl u meet is gonna care if you work for Goldman instead of RBC.

Life is a joke in North America if you think about what you have to deal with. You'll probably swing by Starbucks today, grab a burger, maybe a gourmet taco, go home to a comfortable bed, watch some TV. It's not like you're gonna die making 45K...it's just that other people might not give you respect and you'll have to deal with that.

I dunno job wise though. If you have what it takes to be a banker or something similar, you'll feel like a zombie working most F500 jobs. Guess the challenge will be to find a job that's reasonably challenging without insane hours.

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moneymogul's picture

Happiness is fleeting.

moneymogul
      IB
 
(Senior Orangutan, 456
 
Points)
 on 3/3/13 at 7:31am

Happiness is fleeting. Happiness is a choice. I don't believe that it's in our nature to constantly seek out happiness, but to get pleasure out of making successful strides towards an overall goal.

I want money not to buy a bunch of stuff, but because I am a competitive male and it's one of the things I've chosen to place value on in life; considering that our lives have no real purpose, we have to create our own.

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karypto's picture

By all means work hard in

karypto
      EN
 
 
(Senior Gorilla, 852
 
Points)
 on 3/3/13 at 8:01am

By all means work hard in your 20s to settle down with a woman in your 30s.

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jntheriot504's picture

After reading through the

jntheriot504
      O
 
(Senior Baboon, 196
 
Points)
 on 3/3/13 at 8:15am

After reading through the comments it appears the overall consensus is that people, males particularly, work in finance for the competitive nature of the job as it forces them to be the best person they can be. Now, since money is a quantifiable measurement it does allow a way to score who is performing better at their jobs; fueling the competition. Given that competition and striving to be the best appears the main motivator, why we do not find different avenues to fuel our competitive nature instead of working a hundred hours a week?

Personally, to fuel my competitive side I started to sign up for local running races. The first race I completed was a half marathon, in which 25,000 of people completed. Afterwards, I was not satisfied with the 13.1 miles or my time, but being that I did not care so much about my time I decided I need to go further, which lead me to ultra-marathons. During the time I finished my half marathon I completed in few Olympic distance triathlons. Now in my mind I thought I was in good shape, yet when you complete a 55km race on a single track trail through the mountains, you learn a lot more about yourself than you care to admit. I have completed a few other 50km trail races and I am now training for the 50 miler and 100km distances. Even though the races are timed, the competitiveness is primarily with yourself. Sure you can also brag to your co-workers that you are running dumb distances while Oprah has out run them, but that just makes you a douche bag no-one cares to be around.

My point; is there not a way we can fuel that competitive drive we all have, without sitting at our desks for hours. I'm not advocating everyone start running ultra-marathons because the majority of people find that equally as ludicrous as working 100 hours per week. I pose this question: If you did not have to work a single day in your life, what would you do that would force you to be the best person you can be while fueling your need for competition?


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leveredarb's picture

there's an element of

leveredarb
     
 
(King Kong, 1,232
 
Points)
 on 3/3/13 at 9:44am

there's an element of causation vs correlation, the guys that make $45k a year and chill are likely happier because more chilled, happy people that don't give a fuck go to those jobs. Id be fucking miserable living that sort of life personally lol.

to the poster above, or more general, can anyone explain the allure of marathons to me? Bankers for some reason love that shit as well. I did some running but its just such an incredible boring activity, there is zero skill involved, all just endurance, sounds fkin horrible to me. Guess that's why bankers love marathon running, zero skill in banking all just endurance lol...

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jntheriot504's picture

leveredarb: I did some

jntheriot504
      O
 
(Senior Baboon, 196
 
Points)
 on 3/3/13 at 10:06am
leveredarb:

I did some running but its just such an incredible boring activity, there is zero skill involved, all just endurance, sounds fkin horrible to me. Guess that's why bankers love marathon running, zero skill in banking all just endurance lol...

Yes, most people can go run 5km without any real skill, the same can said about the average person investing in the stock market making 5% gains. Once you move beyond the neighborhood jogger or the CNBC investor is when skill becomes necessary in succeeding. Being in the mountains for 7-12 hours running is about a lot more than endurance, I would say it only makes up 40-60% depending on distance and difficulty. Falling over on the side of the trail at mile 22 because all the muscles in your legs have cramped up without anyone in sight and still knowing your have 10 miles to run forces you to know yourself better than anything else I have done. That is the allure; being out there, disciplining yourself and having the knowledge once you finish anything is possible.


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Oxy-Gen's picture

True,certain happiness is in

Oxy-Gen
     
 
(Monkey, 34
 
Points)
 on 3/3/13 at 3:12pm

True,certain happiness is in helping others, particularly those who are not accustomed to being good done to them.In reaching out to the lower echelons of society and at least trying to make a change in their life; Soaking in nature wherever you go,reveling in music,books and on top of all that living a secluded life with 'the' loved ones.

Give, if not already, 1% of your income towards something you would honestly love to do, but cannot do now. Any cause you support. Do this and feel the immensity and purity of true happiness,which is real when shared.

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Gangsta Killah Blood's picture

I think a banker's pursuit of

Gangsta Killah Blood
     
 
(Monkey, 40
 
Points)
 on 3/5/13 at 12:50am

I think a banker's pursuit of maximum wealth comes from a variety of factors. Money obviously equals security, and this is paramount in Anglo Saxon countries where we thrown into the rat race at an early age. There was a post here recently on adversity -- this is similar to the competition aspect; a sizable portion of bankers come from competitive or underdog type backgrounds (athletes, military, poverty etc.). I don't know many people that become bankers to be "happy". In fact, living your life for the sole purpose of fulfilling one emotion seems pretty empty to me. Therefore, for whatever reason (if I was brainwashed from an early age or whatever), to me success>happiness. Also, I see you have some Buddhist monks in your picture, I recommend you read some of the works by Thich Nhat Hanh; he says to live life is to live in the present.

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jntheriot504's picture

Gangsta Killah Blood: Also, I

jntheriot504
      O
 
(Senior Baboon, 196
 
Points)
 on 3/5/13 at 4:26am
Gangsta Killah Blood:

Also, I see you have some Buddhist monks in your picture, I recommend you read some of the works by Thich Nhat Hanh; he says to live life is to live in the present.

I find it difficult to comprehend the paraphrasing of Thich Nhat Hanh stating to live life in the present. Life in finance is far from living in the present. Buddist philosophy simply states:

Kalupahana':

It may not be far from the truth to say that this attitude of renunciation is behind every moral virtue. Not only those who leave everyday life and embrace the life of a monk, but everyone is expected to practice renunciation to the extent to which he is able. Without such sacrifices, there cannot be perfect harmony in society. Thus, even the simplest of virtues, such as generosity, liberality, caring for one's parents, family, fellow beings and others cannot be practiced without an element of renunciation or sacrifice. This is the 'sacrifice' the Buddha emphasized.


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Gangsta Killah Blood's picture

While Buddhist philosophy may

Gangsta Killah Blood
     
 
(Monkey, 40
 
Points)
 on 3/5/13 at 9:12am

While Buddhist philosophy may be simply stated it is not easily interpreted (hence your confusion and my confusion as to why you quoted that). Also, I did not mean this was some specific metaphor for finance or something. What I meant was -- living your life, no matter what you are doing (working in finance or sweeping floors), if you stay focused on the task at hand the suffering aspect of life becomes a little less painful. Clearly, you need to anticipate and plan for the future but there is time for that and time for what you are doing right now. Just to be clear, I'm really bad at trying to explain this stuff.

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CalTex Analyst's picture

For me, the money definitely

CalTex Analyst
      IB
 
(Monkey, 40
 
Points)
 on 3/5/13 at 10:44am
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"Utter commitment to the task at hand."

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jntheriot504's picture

Gangsta Killah Blood: While

jntheriot504
      O
 
(Senior Baboon, 196
 
Points)
 on 3/5/13 at 1:08pm


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jntheriot504's picture

CalTex Analyst: For me, the

jntheriot504
      O
 
(Senior Baboon, 196
 
Points)
 on 3/5/13 at 1:22pm


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Termination.

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Indemnity.

You agree to defend, indemnify, and hold harmless the Company, its officers, directors, employees and agents, from and against any claims, actions or demands, including without limitation reasonable legal and accounting fees, alleging or resulting from your use of the Material or your breach of the terms of these Terms and Conditions. The Company shall provide notice to you promptly of any such claim, suit, or proceeding and shall assist you, at your expense, in defending any such claim, suit or proceeding.

General.

The Company makes no claims that the Materials may be lawfully viewed or downloaded outside of the United States. Access to the Materials may not be legal by certain persons or in certain countries. If you access the Web Site from outside of the United States, you do so at your own risk and are responsible for compliance with the laws of your jurisdiction. These Terms and conditions are governed by the internal substantive laws of the State of New York, without respect to its conflict of laws principles. Jurisdiction for any claims arising under this agreement shall lie exclusively with the state or federal courts within New York, New York. If any provision of these Terms and Conditions are found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these Terms and Conditions, which shall remain in full force and effect. No waiver of any term of these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term. Except as expressly provided in additional terms of use for areas of the Web Site a particular "Legal Notice," or Software License or Material on particular Web pages, these Terms and Conditions constitute the entire agreement between you and the Company with respect to the use of Web Site. No changes to these Terms and Conditions shall be made except by a revised posting on this page.

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Our staff, contractors, Internet service providers and others involved in this site follow this policy or similarly strict policies regarding your Information.

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The Company is committed to fully disclosing our policies regarding the collection, use, maintenance, disclosure and security of personal information obtained from users of our site. The term "personal information" includes a name, address, email address, or any other information which could be used to contact you directly or to identify you personally.

Use and Disclosure Limitations

The Company only uses personal information about its Web site users for specific purposes. We do not share user information with third parties except when we have told users about the disclosures, when we have prior consent, or when required by law.

Use Policy: When the Company gathers personal information from users, we ask for permission first. We also disclose, at the time of collection, how the information will be used by us. Personal information is used for activities such as auto-completion of commonly-used forms and helping us contact you when you solicit information from us.

Disclosure Policy: We do not normally disclose personal information to anyone outside of the Company unless we have previously informed users about the disclosures. However, some data may be used from time to time by outside contractors, including auditors or consultants, to assist us in carrying out necessary financial or operational activities. These uses will be consistent with this privacy policy and all contractors using this potential personal information must agree to safeguard it, to use it only for the authorized purpose, and to return it or destroy it upon completion of the activity.

The Company might be required to disclose personal information in response to a valid legal process such as a subpoena, search warrant or court order.

Although unlikely, it is possible that we may have to make certain disclosures to ensure the security of our Web site, to protect its integrity, or to take precautions against potential liability. In any of these situations, we will take any reasonable steps to limit the scope of the data disclosed.

Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

Forum Topics

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  • Hello WSO! I am starting in July as a first-year IB analyst at MM IB. I am excited and nervous at the same time: not sure about group placement and the office dynamic and exit opps etc. I am curious that if there is anything that experienced bankers would like to share here? things that you...
    Share with an incoming first-year analyst?
  • Sports is a fascinating business to me. It is truly amazing how quickly sports have grown into billion dollar franchises with top end players making up to $30 million a year. Baffling. On top of it, the numbers for broadcasting rights keep climbing right along with them and frankly seem to be...
    ESPN and the Business of Sports
  • My original plan was to write a series about starting my eccomerce business; going through the process of finding a market, a product and funding. I still plan to do this, but I would like to talk about something that is far more pressing to me: IP...
    Entrepreneurship and patent lawsuits
  • ...
    thanks
  • Starting my MBA at Purdue in the fall (I know not an elite program but I got almost a full ride and they seem to place the best of the non-elite Midwest schools). I am looking to get into oil and gas post MBA (focusing in corp finance). I am currently 33, my original undergrad is in criminal...
    looking to break into oil & gas post mba
  • Hi everyone, I have an upcoming first round phone interview with Susquehanna International Group for an entry level equity research position and I was hoping for some idea of what to expect. I have used the search function, and no one seemed to answer the question of the interview process...
    SIG Equity research interview
  • Hi...
    Investment banking in London / Europe is a complete waste of time
  • 1) <strong>Bloomberg Best (and Worst)</strong> (<a href="http://www.bloomberg.com/visual-data/best-and-worst/s">Bloomberg</a>) - Awesome new research tool from Bloomberg. This is seriously cool and very comprehensive. Going to help a lot of us find a jumping off...
    Bonus Bananas May 24, 2013
  • looking on linkedin it appears that many HInes analysts end up going to b-school and then back to hines. I was curious to know if they pay for it? ...
    does Hines pay/sponsor your MBA??
  • I was curious to know about Lazard's private funds group....is this the equivalent to a sponsors group at a BB? Are the hours & intensity equivalent as well? or do the projects have a more long term focus since they are raising funds which can take considerable amounts of...
    lazard private funds group? - good training? exit opps?
  • Hi WSO, long time lurker here, lots of useful advice on the boards and I finally made an account. I am attempting to make the transition to Asset management and have a first round interview with JPM to join as an analyst. I am coming from an unusual background (non-target, big 4 tax experience)...
    JPM AM experienced hire process? - London
  • I work as a currency volatility trader and manage one of the bigger G10 blocs in London. I've been lucky enough to get responsibility early in my career. I started off managing a single currency book a few months into the job, and have steadily been granted more responsibility to where I am...
    Ask Me Anything: I'm a Currency Volatility Trader
  • I have searched but could not find the exact difference between a prop Trader and a Portfolio manager.Could somebody please tell me?...
    Portfolio manager and prop trader
  • I recently received an message to a comment I made how I was able to break into IB as intern and would like to provide a nice update to where I am in my career. Original Story from April...
    My Story (A Thank You Card to Patrick and the Team)
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I was writing an email to a fellow monkey who is about to start as a banking analyst in the summer. It's been a little over 5 yrs now since I was a wee young first-year analyst in restructuring for one of the Moelis/Houlihan/Evercore type firms (I call them the firms where most people will...
15 things I wish I knew as a first year banking analyst
This is the reaction any analyst who has ever worked in banking has when you say you want to leave banking for business school then come back as a post b school associate... <img src="http://epicpinterestfail.com/wp-content/uploads/2012/11/how-i-met-your-mother-barney-why.gif"...
Why You DON'T Leave Banking for B School Just to Come Right Back...
I get a ton of emails and answer a ton of posts asking similar questions so I thought I would answer the most common ones I get here and allow others to post their questions so everyone can see them and the subsequent answers. Hope this helps. <strong>Summer Analyst...
MSF Question and Answer
I work as a currency volatility trader and manage one of the bigger G10 blocs in London. I've been lucky enough to get responsibility early in my career. I started off managing a single currency book a few months into the job, and have steadily been granted more responsibility to where I am...
Ask Me Anything: I'm a Currency Volatility Trader
Inspired by comments from this: http://www.wallstreetoasis.com/forums/basic-guide-ramping-up-on-a-company-with-public-information-part-1-of-3 Lets just jump in. <strong>Technology:</strong> In this space there are really two metrics that matter the most, sales growth and EPS...
Beginners Guide to Valuation and Metrics By Sector
I'm currently a Private Equity Analyst in Shanghai, China. Academically, I graduated from a target school majoring in Economics and Chinese. I also spent my time at college as the president of an on-campus student organization related to Finance and Economics and a volunteer for a local...
Ask me anything… I'm a Private Equity Analyst in Shanghai
For better or for worse, there’s a very unique feeling when everything goes completely according to plan yet nobody seems to care or notice. Such is the case with our favorite company of the moment, Tesla Motors. For those unaware, TSLA has rocketed upwards since its Q1 earnings release,...
A Perfect Storm
I work as a long/short equity analyst at a large hedge fund. I've been lucky enough to be more than just a model monkey early on in my career, but have also been exposed to the stress of being measured on returns. I primarily cover consumer and TMT names. I went the typical path (target...
I'm a Hedge Fund Analyst - Ask Me Anything
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
<em>Mod note: Best of Bankerella - this was originally posted 10/1/12</em> I occasionally get PMed by people at colleges I’ve never heard of before, asking if they have a shot at IBD. Folks, why IBD? The finance world is broad and varied, and there are a million ways to...
My Biggest Career Mistake to Date: Prestige
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