Second Year IB Analyst Answering Questions
IB
(Baboon, 156
Points)
on 1/21/13 at 1:30pm
Hey guys - I am open to taking questions on anything. I am currently a second year analyst at a top bank and headed to the buyside in the summer. Ask away.
-Bigbadanalyst






Could you please help me with
Could you please help me with this? : http://www.wallstreetoasis.com/forums/top-domestic...
Thank you!
How did you get your next
How did you get your next (you mentioned summer) job ? My guess it's that same old story again, you drop your pants and show Harvard/Yale/Wharton and everyone starts jaw-dropping and gasping for dear air.
"The future isn't what it used to be "-Yogi Berra
"Perhaps you've failed to take into account my hidden assets"-007
The coolest cat on WSO
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PE or HF? May help direction
PE or HF? May help direction of questions.
How are analysts picked to
How are analysts picked to interview undergrads? If you have never interviewed an undergrad before, what are the chances you will interview one this year? Will they let you know beforehand or is there any list of people who are "qualified" to interview? How is this in Asset Management if you know?
@anavoisp - I dont know
@anavoisp - I dont know enough about those places to give an informed answer.
@financier - Getting the interviews was that easy, but the interviews themselves were not easy. Credentials can only get you so far. Funds will grill you no matter who you are. If you dont know your shit, you wont get passed the first or second round (for hedge funds, generally the first round is with HR).
@GED - HF, but I dabbled in the MM PE process too
@Prangs - generally, analysts dont interview at my firm. Its associate or above. Analysts do the resume screening and coffee chats type stuff.
Keep em coming...
What do you view as the most
What do you view as the most important aspects of preparation for obtaining and performing in SA and 1st year FT interviews? (i.e. technicals, developing/polishing your story, GPA, prior WE, etc.) Thanks a lot. This is really helpful.
HF megafund, or small? and
HF megafund, or small? and what kind of strategy does your future firm use?
@TGI - All things you
@TGI - All things you mentioned play a part in getting the offer. For example, when looking through 300+ resumes when I have other things to do or plans that night, each résumé will get 10-30 seconds at most. Luckily, there are enough 3.8+ with top internship resumes that it's not hard. After that, there could be coffee chats - if your story sucks or you don't seem to know anything about finance/banking you won't get to the actual interviews. At the interviews, if you can't answer the technicals you prob won't make it to the super day. Essentially, with so many kids from top schools applying, the top banks can have their cake and eat it too.
It's $3bn+ with an emphasis on value.
I'm in my final year of
I'm in my final year of school at a miserable little institution with no name recognition at all. I've networked as much as I can and believe I've exhausted all reliable/helpful sources. I have decent GPA and experience (3.5 and three internships, one at a boutique IB) and have applied to around 200 different jobs. Haven't had any real opportunities and haven't even had an interview yet.
Long story short, extremely discouraged and very annoyed because I feel like while I may not be getting offers left and right, I expected to at least have some interview invites. What would be my best option going into the spring of my final semester? I've been trying to look into smaller boutiques and specialty advisory firms, however just feel like I've applied for all possible positions available at the moment.
Any advice would be great, thanks.
"History doesn't repeat itself, but it does rhyme."
@street - I know the spot you
@street - I know the spot you are in is a frustrating one. Your best bet would be to cast a wider net. I know it may be ibanking or bust, but you really don't want to be in the position of not having anything come May. You have to understand that there are SO many qualified applicants that getting the interview is an accomplishment in itself. Also, you mentioned having worked at a boutique - why not go back there or at the very least leverage your contacts at the firm - it's a small world and they probably have buddies at other firms. Best of luck!
streetwannabe: I'm in my
I'm in my final year of school at a miserable little institution with no name recognition at all. I've networked as much as I can and believe I've exhausted all reliable/helpful sources. I have decent GPA and experience (3.5 and three internships, one at a boutique IB) and have applied to around 200 different jobs. Haven't had any real opportunities and haven't even had an interview yet.
Long story short, extremely discouraged and very annoyed because I feel like while I may not be getting offers left and right, I expected to at least have some interview invites. What would be my best option going into the spring of my final semester? I've been trying to look into smaller boutiques and specialty advisory firms, however just feel like I've applied for all possible positions available at the moment.
Any advice would be great, thanks.
I know its not my thread, but don't stick to only known sources like alumni. Reach out to random people who share a common thing with you (prep school background, sports, location grown up, rival school). I had great success reaching out to RANDOM people on Linkedin who were only second level connections.
Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
Yes, I agree. Casting a wide
Yes, I agree. Casting a wide net in every way possible is key. It doesn't matter how you get the job - just get the fucking job. This should be all you do and think about till you get one. Not an ideal senior year, I know, but then again, you probably wouldn't be a fit for banking if you are not driven.
Also, don't think I am just spouting some inspirational bullshit. I thoroughly earned my seat at my firm. I cannot tell you how many times I've been rejected (was even rejected by the firm I am at now). It's fucking hard. Many analysts have daddies in the business or who are clients, so if you don't, expect to work your ass off and sacrifice a lot to break in.
I'm in my final year of school at a miserable little institution with no name recognition at all. I've networked as much as I can and believe I've exhausted all reliable/helpful sources. I have decent GPA and experience (3.5 and three internships, one at a boutique IB) and have applied to around 200 different jobs. Haven't had any real opportunities and haven't even had an interview yet.
Long story short, extremely discouraged and very annoyed because I feel like while I may not be getting offers left and right, I expected to at least have some interview invites. What would be my best option going into the spring of my final semester? I've been trying to look into smaller boutiques and specialty advisory firms, however just feel like I've applied for all possible positions available at the moment.
Any advice would be great, thanks.
I know its not my thread, but don't stick to only known sources like alumni. Reach out to random people who share a common thing with you (prep school background, sports, location grown up, rival school). I had great success reaching out to RANDOM people on Linkedin who were only second level connections.
How did you decide between HF
How did you decide between HF and PE? Which group are you in at your bank and how did you pick it? How different are the exit opps between various groups within your bank?
Thank you.
Like many people on this
Like many people on this site, I had dreams of 2 years GS/MS, 2 years KKR/BX....honestly, banking is boring and mind numbing. I spoke to many people at PE firms and although they said it was in some ways better than banking (better hours when not on deals, much better pay and perks, somewhat less bullshit) it is inherently the same shit as banking. I didn't want to spend two more years of my life wishing it away. I found the HF path to be more exciting. I love following the markets and investing and can honestly say will enjoy my next job, sure it will inherently be more stressful (losing money vs fucking up the font or something stupid in a pitch book), but for me, it will be much more satisfying.
As for my group, it is a top group at GS/MS, I won't say which as I would like to remain anonymous. I chose it because I liked the analysts I met and the placement was really "sick". From what I have seen, just about every group has placed well. If I had to do it all over again, I would've gone for an elite boutique.
How did you decide between HF and PE? Which group are you in at your bank and how did you pick it? How different are the exit opps between various groups within your bank?
Thank you.
What tips do you have for an
What tips do you have for an incoming first year analyst in NYC in terms of spending/saving money? How much money did you save the first year and how much do you think is a good target to save? Is "spend your salary save your bonus" a good rule? What's worth splurging on and what's best to go cheap on as an analyst (i.e. worth it to splurge on clothes, appt, nights out, etc)?
Well, I don't know you, so I
I'm currently a first year in
Well the first thing to do is
Thanks for the great replies
I had a phone call today with
"Money is a scoreboard where you can rank how you're doing against other people."
-Mark Cuban
I honestly have only come
Everything is an interview.
How does a non-target student
It's an uphill battle for
bigbadanalyst: If I had to do
Several reasons why I would
[quote=bigbadanalyst]
How would you make your
Yes, with anything in life
Which elite boutiques,
Is there a good way to ask
Couple of recruiting
These thoughts are based on
If it was me, I would just be
I was able to do both
How has work changed from
"Do not go gentle into that good night"
What are your thoughts on
It has generally been better.
[Maybe has been asked before,
"Do not go gentle into that good night"
I interviewed with Lazard as
How did you go about
It wasnt easy. I mostly
just wanted to say, as an
I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought- GG
Will M&A advisory internship
Achiever in college from freshman year: Rainmaker.
Hustler in college from junior year: More than you initially hoped for.
Dreamer in college from senior year: Top closer for 4 man boutique in Idaho in toilet lid M&A
Everyone else: Dunkin Donuts.
It's really hard to say I
What do you think is the
Kids today are funny. You're
There should be a date on the
bigbadanalyst: There should
bigbadanalyst: There should