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Wall Street Oasis » Blogs » bankerella's blog
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The 7 "Good" Work Habits of Bad Analysts
 

bankerella's picture
bankerella
      IB
 
 
(King Kong, 1,895
 
Points)
 on 3/4/13 at 4:30pm
Sandwich

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.

3: Read the WSJ and have informed opinions.

At the analyst level, few people want to hear your opinions on the economy. If you have opinions, don't share them unless asked, or unless you are 100% certain you don't sound like a douche. (Hint: In your early 20's, you can never be 100% certain you don't sound like a douche.)

4: Work through lunch.

Sometimes, nothing is going to save your ass. Just go. Find a friend in the same boat and drag them with you. Life will be better afterward.

5: Fire on all cylinders all the time.

Recipe for burnout. If you're chained to your desk 90+ hours a week and pushing yourself the whole time, you are going to make a bad mistake or fall asleep during a meeting. You have to carve out small nonobvious breaks. Critical part of being a good analyst.

6: Search for work to do when you're not busy.

No. Search for high-impact work to do. If there is none, go home and rest.

7: Follow directions exactly.

Wall Street is full of people who'll give you a recipe for making a shit sandwich and then complain when they don't like the taste. Once you know what you're doing, do it the way it should be done. The boss will like this better than the sandwich.

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Comments

Downeasta's picture

I agree with all of them

Downeasta
      IB
 
(Senior Baboon, 244
 
Points)
 on 6/15/12 at 11:07am

I agree with all of them except #7.. I'd be very hesitant to change anything without getting an OK from my boss first. Maybe it was done that way for a reason, you can't be sure.

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adapt or die's picture

awesome list

adapt or die
     
 
 
(King Kong, 1,263
 
Points)
 on 6/15/12 at 11:14am

awesome list

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WallStreetOasis.com's picture

Thanks Bankerella :-)

WallStreetOasis.com
      EN
 
 
(Human, 12,188
 
Points)
 on 6/15/12 at 11:34am

Thanks Bankerella :-)

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Oscar_chow's picture

Great post

Oscar_chow
     
 
(Senior Monkey, 68
 
Points)
 on 6/15/12 at 11:35am

Great post

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linoxgill's picture

Agreed. And never forget:

linoxgill
      O
 
(Monkey, 32
 
Points)
 on 6/15/12 at 11:36am

Agreed. And never forget: UNDERPROMISE AND OVERDELIVER!

finance is the science of goal architecture.

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Addinator's picture

I disagree with number three

Addinator
      AM
 
 
(Senior Gorilla, 958
 
Points)
 on 6/15/12 at 11:38am

I disagree with number three in that you should absolutely read the wsj and have informed opinions. Are there times to shut up? Absolutely. But I think it would be dumb not to be keep up and be as informed as possible and discuss it with others.

Contact: [email protected]
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TopDGO's picture

bankerella: 1: Turn changes

TopDGO
      CO
 
 
(Orangutan, 320
 
Points)
 on 6/15/12 at 12:04pm
bankerella:

1: Turn changes as quickly as possible.

This is so so so so true. Might even be more true in consulting.

See my other WSO blog posts

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Banker88's picture

Agree with all of them. On

Banker88
      IB
 
 
(King Kong, 1,654
 
Points)
 on 6/15/12 at 12:20pm

Agree with all of them. On #7, better to make a suggestion when you disagree with what your boss asks for but definitely don't just disregard his/her directions because you think they are wrong.

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Saul_Villa's picture

.

Saul_Villa
     
 
(Senior Monkey, 68
 
Points)
 on 6/15/12 at 12:41pm

.

Personal wealth is not how much you have in the bank or the worth of your portfolio. But, rather how you've used the wealth to make your life and those around you better.

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jesus of nazareth's picture

Agree with comments above

jesus of nazareth
     
 
(Orangutan, 257
 
Points)
 on 6/15/12 at 12:42pm

Agree with comments above regarding #7. Great advice - very very true. And manging your boss's expectations is very important.

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prospective_monkey's picture

bankerella: 1: Turn changes

prospective_monkey
     
 
(Monkey, 32
 
Points)
 on 6/15/12 at 12:52pm
bankerella:

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.

I'm not quite sure if I understand this. Do you mean one should refrain from returning changes/updates quickly?
Won't one be known for working slowly?

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Going Concern's picture

Good list...one thing I would

Going Concern
     
 
 
(King Kong, 1,865
 
Points)
 on 6/15/12 at 1:07pm

Good list...one thing I would add to #7: if possible, do it both ways (as you were instructed to do it, and how you think it should be done)

You have to play the game to find out why you're playing the game.

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In reply to prospective_monkey
Do what I gotta do's picture

prospective_monkey: bankere

Do what I gotta do
     
 
(Monkey, 53
 
Points)
 on 6/15/12 at 4:36pm
prospective_monkey:
bankerella:

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.

I'm not quite sure if I understand this. Do you mean one should refrain from returning changes/updates quickly?
Won't one be known for working slowly?

I'm kind of confused, too.

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In reply to Do what I gotta do
Downeasta's picture

Do what I gotta

Downeasta
      IB
 
(Senior Baboon, 244
 
Points)
 on 6/15/12 at 5:04pm
Do what I gotta do:
prospective_monkey:
bankerella:

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.

I'm not quite sure if I understand this. Do you mean one should refrain from returning changes/updates quickly?
Won't one be known for working slowly?

I'm kind of confused, too.

If I understand correctly, the OP is saying that yes, you should always complete your work in a timely manner. However, the point was that one shouldn't always rush to complete the assigned work *ahead* of schedule. Sure, it's good to finish early..on occasion. But, after a while, this will just lead to more and more work being assigned to you, since you have more spare time.

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In reply to prospective_monkey
bankerella's picture

prospective_monkey: bankere

bankerella
      IB
 
 
(King Kong, 1,895
 
Points)
 on 6/15/12 at 6:19pm
prospective_monkey:
bankerella:

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.

I'm not quite sure if I understand this. Do you mean one should refrain from returning changes/updates quickly?
Won't one be known for working slowly?

I'd exercise best judgement. There is a line between acceptably slow and unacceptably slow. What I'm saying is that in my experience, the better analysts come down on the line of acceptably slow as opposed to "wow, that guy is blazingly fast".

Everyone loves it when you whip through changes in fifteen minutes, but that love turns to hate pretty fast when they catch a mistake. They remember that much more clearly than they will remember the ten times you were slightly slower than they wanted you to be.

So, two good reasons to be a little slower in the long run: it allows you to spend more time either on product quality or on self-care (food, rest). Obviously, it's up to you to choose how you mix the two.

See my other WSO blog posts

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In reply to Downeasta
adapt or die's picture

Downeasta: Do what I gotta

adapt or die
     
 
 
(King Kong, 1,263
 
Points)
 on 6/15/12 at 6:20pm
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In reply to Downeasta
bankerella's picture

Downeasta: Do what I gotta

bankerella
      IB
 
 
(King Kong, 1,895
 
Points)
 on 6/15/12 at 6:34pm

See my other WSO blog posts

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wallstasks's picture

When turning changes I would

wallstasks
     
 
(Senior Baboon, 197
 
Points)
 on 6/16/12 at 6:39am
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Flake's picture

I'm liking your posts more

Flake
      ER
 
(Neanderthal, 3,667
 
Points)
 on 6/16/12 at 4:52pm

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

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BTbanker's picture

bankerella: This is all

BTbanker
      IB
 
(Senior Neanderthal, 5,340
 
Points)
 on 6/21/12 at 7:16pm

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

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BlackHat's picture

Bankerella I want you right

BlackHat
      HF
 
 
(Senior Neanderthal, 5,114
 
Points)
 on 6/21/12 at 7:27pm

I hate victims who respect their executioners

Follow BH & Co. on Twitter: @DumbLuckCapital
twitter.com/DumbLuckCapital

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In reply to adapt or die
BTbanker's picture

adapt or

BTbanker
      IB
 
(Senior Neanderthal, 5,340
 
Points)
 on 6/21/12 at 7:49pm

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

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In reply to Flake
AndyLouis's picture

Flake: I'm liking your posts

AndyLouis
     
 
 
(Almost Human, 6,114
 
Points)
 on 6/22/12 at 1:37pm

WSO's COO (Chief Operating Orangutan) | My story | Connect with me on Linkedin.

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illiniPride's picture

Great post: I'll add my

illiniPride
      IB
 
 
(King Kong, 1,099
 
Points)
 on 6/22/12 at 2:19pm

Leadership can be defined in two words: "Follow Me"

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In reply to illiniPride
bankerella's picture

illiniPride: Great post: I'll

bankerella
      IB
 
 
(King Kong, 1,895
 
Points)
 on 6/22/12 at 2:45pm

See my other WSO blog posts

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In reply to bankerella
illiniPride's picture

bankerella: illiniPride: Gr

illiniPride
      IB
 
 
(King Kong, 1,099
 
Points)
 on 6/22/12 at 3:03pm

Leadership can be defined in two words: "Follow Me"

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In reply to illiniPride
bankerella's picture

illiniPride: The life of a

bankerella
      IB
 
 
(King Kong, 1,895
 
Points)
 on 6/22/12 at 3:06pm

See my other WSO blog posts

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FrankD&#039;anconia's picture

Damn it. There was a

FrankD'anconia
      O
 
(Orangutan, 303
 
Points)
 on 3/4/13 at 4:26pm
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In reply to linoxgill
Tximu's picture

linoxgill: Agreed. And never

Tximu
      AM
 
(Senior Chimp, 28
 
Points)
 on 3/4/13 at 5:05pm
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DaisukiDaYo's picture

Agree so much with the lunch

DaisukiDaYo
      IB
 
(King Kong, 1,029
 
Points)
 on 3/4/13 at 6:14pm
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criticalmass's picture

This list is dead on.

criticalmass
      ST
 
(Monkey, 31
 
Points)
 on 3/4/13 at 6:41pm
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mongoose's picture

She is back!

mongoose
      O
 
(King Kong, 1,039
 
Points)
 on 3/4/13 at 6:59pm
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Fwd Unto Dawn's picture

awesome list

Fwd Unto Dawn
      IB
 
(Senior Chimp, 28
 
Points)
 on 3/4/13 at 10:07pm
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In reply to FrankD'anconia
ricky212's picture

FrankD'anconia: Damn it.

ricky212
      ST
 
(Orangutan, 371
 
Points)
 on 3/4/13 at 10:33pm

Because when you're in a room full of smart people, smart suddenly doesn't matter—interesting is what matters.

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In reply to ricky212
Mr.Saxman's picture

ricky212: FrankD'anconia: D

Mr.Saxman
      IB
 
(Senior Baboon, 247
 
Points)
 on 3/5/13 at 11:00am
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mongoose's picture

Damn, I thought she was back!

mongoose
      O
 
(King Kong, 1,039
 
Points)
 on 3/5/13 at 11:10am
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tiger2012's picture

Damn, Bankerella still posts?

tiger2012
      ER
 
 
(Senior Baboon, 246
 
Points)
 on 3/6/13 at 10:24pm
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brownbear1257's picture

solid post

brownbear1257
      IB
 
(Monkey, 46
 
Points)
 on 3/10/13 at 11:47pm
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Forum Topics

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  • Thoughts on this? Heister brings up a good question: <em>"Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?"</em> via Bloomberg: <strong>Obama Says Bernanke Has Been at Fed...
    Bye Bye Bernanke? Who Would Be Next?
  • Any rule of thumb for dry cleaning these? I generally try to do it twice a year, depending on how often I wear the tie. Always seems to put them back to...
    Care for neck ties
  • Does anyone have PE recruiting resources they'd be willing to share/ trade? I'm looking for modeling tests (with solutions) and have a few tests from top tier funds to trade in exchange. Any other recruiting resources would be appreciated as well. Please PM me. Thanks...
    PE recruiting resources
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    city boy by Geraint Anderson
  • Hey all, I will be matriculating at NYU for MBA this fall and am considering IBD since the recruiting process seems fairly reliable. I have a few questions about IBD at this level (some of these are dupes from my post "IBD pay ... really that great?" that I would like more color...
    Questions about post-MBA level IBD
  • Hi, if a story is printed in the FT or WSJ, it can apparently have quite a significant impact on the market. partly because everyone working in finance is reading at least one of the two. but what about other daily newspapers? assume a similar story is printed in the times or the guardian. what the...
    Which impact on markets do newspapers have (excluding Financial Times, Wall Street Journal, etc.)?
  • Many of the questions that have come in surround recruiting for front office Wall Street careers from a non-target so we’ll start with some ideas for recruiting, move on to interviewing, preparing for the job and finally long-term career management advice. Before we begin, it has been beaten...
    Stand Out as a Non-Target: Recruiting (Part 1 of 4)
  • I searched the site and realize that most posts about this are very old. I'm looking for current opinions. I've read that people who get into IB through SEO generally get less respect from their peers. My questions are: 1. How do people even know if you got in through SEO or not? 2. Why...
    Question about SEO
  • Need some advice from someone familiar with RE legal matters. We have multiple LLCs, we would like a corporation to own them all in order to make it simpler for us. Is there a way of doing this, while keeping liabilities separate? Example would be, lets say one of our projects defaults, we would...
    A corporation owning multiple LLCs?
  • I've seen paper vs. physical energy trading discussed in the past. However, I was wondering what a day in the life would look like mid-career at a BB vs. a Supermajor vs. a Commodity trading house (Glencore, Trafigura,...
    Energy Trading: BB vs. Supermajor vs. Commodity Trading House
  • Can someone shed some light on the differences between the two in terms of culture and reputation?...
    Bain Capital PE vs T.H. Lee
  • Guys, currently a rising junior at a semi-target. Interning at a very-well known boutique I-Bank in ER FIG. Got an email from a recruiter at Macquarie basically looking to hire me. Anyone got any info on these guys? He looked at my linkedin profile, where I have my title as "Equity...
    Macquarie Group - NYC Equity Research
  • I'm a recent graduate from a semi-target looking to do ER in the food industry specifically. I was wondering if it was acceptable to target a specific sector in my cover letters and other correspondence to firms. Of course, I would be sure to make sure that the companies cover food/beverage...
    Equity Research Sector Specificity
  • <strong>Stock Market Analysis (6/10-6/14)</strong> Stocks lost ground last week as the Dow, S&P 500, and Russell 2000 indexes all declined. Among the sectors, largest losses were taken in financial and technology stocks, the least in consumer staples and health care....
    Stock & Bond Market Update
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<em>Mod note: make sure to see the great comment below by CompBanker</em> I come from a small town where nobody had ever heard of consulting or IB. I was fortunate enough to attend a top target college (a good Ivy) and land a gig in IB at a BB/EB. I'm starting full time this...
Finance Culture - Personalities
<strong>Background</strong> I randomly discovered WSO nearly seven years ago just weeks after I secured a FT MM IB position. The website was extremely nascent at the time with only a few thousand registered users. The majority of the users were college students with only a handful...
How WSO has enhanced my IB/PE career
<em>Mod note: for the tl;dr version, skip down to "Circa 1960"</em> First, some background. I’m going to explain how we got to where we are today in order to frame our place in history and our model of life, so bear with me...
Your Model of Life Is Wrong
After over one year in the making, the <strong><a href="http://www.wallstreetoasis.com/2013-wso-compensation-report-full">2013 WSO Compensation Report</a></strong> is here! Access to the FULL 108 page 2013 WSO Compensation Report is <strong>100%...
2013 WSO Compensation Report has Arrived
Where do i even start..I learned so much from this forum. The brutally honest opinions, sincere willingness to help, the technical information and random tips on everything has been absolutely crucial for me landing this offer. Coming from a non-target I didnt get that 3rd year SA position at...
Thank you WSO! Got my FT Offer! ADVICE NEEDED
When I first started as a PE analyst, I constantly struggled with judging the amount of time I should spend on reviewing sourced deals. How much time is enough to really get a handle on the company’s revenue streams? How granular do I need my analysis to be on industry threats? With this...
Misguided Efforts: A Cautionary Tale
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)
Any Asset Management people here who could give me some insights on it, such as the nature of the work, the pay, the hours, the potential for career advancement, ect? I was looking into IB before but I've decided that I would rather pursue a career that's more intellectually...
Asset Management a better choice than Investment Banking?
<img src="//img.pandawhale.com/48721-Sexually-Oblivious-Female-Meme-Ze2w.png" alt="Sexually Oblivious Female Meme - Favorite Position? I would like to be a CEO.">
If you could be the richest person in the world with your dream job only as a public virgin forever would you do it?
Many of the questions that have come in surround recruiting for front office Wall Street careers from a non-target so we’ll start with some ideas for recruiting, move on to interviewing, preparing for the job and finally long-term career management advice. Before we begin, it has been...
Stand Out as a Non-Target: Recruiting (Part 1 of 4)
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