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Wall Street Oasis » Forums » WSO Success Stories
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Broke in from the Big Four
 

tyrone slothrop's picture
tyrone slothrop
      CO
 
(Monkey, 43
 
Points)
 on 8/10/12 at 9:10pm
broke in.jpg

I joined the Big Four out of college. I wound up in the CRE valuation/advisory group. Finding a job had been difficult for me. I knew that I wanted to be in finance, but I was a dumb college kid and had no focus. I figured this job could be a springboard.

I knew immediately that the Big Four was the wrong place for me, and I began sending my resume out to other firms within my first six months. I had many interviews but I couldn't get any offers. It was difficult to shake the impression that I was an accountant, and companies had a glut of people with relavent experience to choose from. There were multiple times when I got to final round interviews with prestigious firms. I was sure I had the job. I would wait to hear back. And wait. And wait. And nothing. Weeks later I would find out what I already knew.

After a few years I began to get more desperate. I had been promoted for a year and the next hurdle, manager, seemed not far off. At that point I would be a lifer, I figured. I started interviewing for positions in 2- and 3-person offices. Anything to get out of what I was currently doing. I was stunned that I didn't get those jobs. In hindsight, not getting them was a blessing.

It was around this time that my best friend quit. He left to do asset management for one of the largest real estate private equity funds in the country. He had lucked out due to a family relationship. We didn't talk much after he left. I was despondent at the office, as another of my friends had quit recently as well. A few months later I got a text message asking me if I wanted to interview. I'd have to pay my own way but here was a great opportunity. I'd have a man on the inside, and our backgrounds were nearly identical.

I flew out to New York and the interviews went very well. The hiring manager liked me a lot, and it was down to just me and another person.

I didn't get the job.

FIVE WEEKS AFTER I INTERVIEW and one week after I got rejected, I get a phone call from a 212 number. It is the hiring manager, and she wants to know whether I am still interested. An associate quit the friday prior and the group needed another person. Fortunately, I had just interviewed and everyone liked me. I was the immediate choice.

On one level, the way I got this job opportunity was discouraging. I sent out hundreds of resumes. I interviewed tens of times. Each of those opportunities were inferior to this one, and I still couldn't get the job. And at the end of the day, it wasn't my hard work or tenacity that got me the job. It was luck.

I try to think about the probability of having gotten this opportunity. It's almost certainly less than one percent. First, there are the odds that my buddy would have gotten his job. Next, the odds that they would have been looking for a second analyst and wanted me to interview. The odds that, in spite of flubbing my phone interview (my perception, anyway), the interviewer liked me. And the odds that the company ended up needing to hire a third analyst coincidental with when I interviewed.

I think there are two lessons to learn here. First, don't give up. The future is unknowable. Eventually, hopefully, a great opportunity will come along. At that point it is up to you to seize that opportunity. And last, do what you can to increase the probability that serendipitous events like this will happen. Build those connections, expose yourself to new opportunities, etc.

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Tags:
  • breaking in
  • WSO Success Stories
xxix's picture

Good fucking job, man. I'm

xxix
     
 
(Baboon, 156
 
Points)
 on 11/11/11 at 8:32pm

Good fucking job, man.

I'm proud of ya...

Man cannot remake himself without suffering, for he is both the marble and the sculptor. -Dr. Alexis Carrel

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bossman's picture

Not to be a pessimist and I'm

bossman
      O
 
(Gorilla, 746
 
Points)
 on 11/11/11 at 8:52pm

Not to be a pessimist and I'm not and believe in never giving up, but on the flip side there are people who will just never get lucky!!! In fact they only get bad luck!

Do what you want not what you can!

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STorIB's picture

Solid story. Thanks for

STorIB
      CF
 
 
(Orangutan, 372
 
Points)
 on 11/11/11 at 10:16pm

Solid story. Thanks for sharing.

Congrats on the offer!

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esbanker's picture

Congrats man. Though luck was

esbanker
      PE
 
 
(Gorilla, 577
 
Points)
 on 11/11/11 at 10:22pm

Congrats man. Though luck was on your side, you moved a lot of pieces until one finally fell in the right place. Anyway, great story.

Capitalist

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Ambition's picture

I love the fighters man, I

Ambition
      EN
 
(Gorilla, 717
 
Points)
 on 11/11/11 at 10:26pm

I love the fighters man, I always have, and will always continue..... You sir are a fighter.

Good job and Good luck!

I want a lady on the street, but a freak in the bed,

Go Bucks!!

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Kanon's picture

Congrats! You're right that a

Kanon
      O
 
(King Kong, 1,504
 
Points)
 on 11/12/11 at 4:20am

Congrats! You're right that a lot of things are due to luck. But it's one's preparation, persistence and dedication that allows you to make the most out of a lucky break like that.

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D M's picture

That's great man,

D M
      O
 
(Senior Neanderthal, 4,810
 
Points)
 on 11/24/11 at 1:26pm

That's great man, congratulations!

"WSO is like the 300 for anti spamage. None shall pass." -happypantsmcgee
"You stop being an asshole when it sucks to be you." -IlliniProgrammer

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Funkfreed's picture

Doesn't matter how you get

Funkfreed
     
 
(Baboon, 147
 
Points)
 on 11/27/11 at 7:28am

Doesn't matter how you get the job, all that matters is what you do with it.

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WallStreetOasis.com's picture

congrats! - awesome.

WallStreetOasis.com
      EN
 
 
(Human, 12,067
 
Points)
 on 11/28/11 at 2:27pm

congrats! - awesome.

WSO Conference 2013

Private Certified User Chat

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worklikeamachine's picture

Great job.Take big advantage

worklikeamachine
     
 
(Senior Chimp, 26
 
Points)
 on 8/11/12 at 1:12am

Great job.Take big advantage of this opportunity man!

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Bennyben21's picture

Congrats man.. It good to

Bennyben21
      O
 
(Baboon, 103
 
Points)
 on 8/11/12 at 5:42pm

Congrats man.. It good to hear monkeys getting ahead. Long live Gekko

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blueslord2910's picture

Persistent!

blueslord2910
     
 
(Senior Baboon, 227
 
Points)
 on 8/11/12 at 8:03pm

Persistent!

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UnclePanda's picture

Good job mate, Not all luck

UnclePanda
     
 
(Senior Monkey, 68
 
Points)
 on 8/11/12 at 10:54pm

Good job mate,

Not all luck because you put yourself out there and kept working on jumping through those hurdles. I am sure if you had not have got this gig, you would have got something eventually. I am from australia so I am not sure how the US is but over here most people transfer to big companies from big 4 as a senior accountant and manager. In fact the higher up you are the more likely you are at getting a job assuming your field is revelent as in your case, valuations would be.

Well done.

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Sandhurst's picture

bossman: Not to be a

Sandhurst
      IB
 
 
(King Kong, 1,237
 
Points)
 on 8/11/12 at 11:15pm
bossman:

Not to be a pessimist and I'm not and believe in never giving up, but on the flip side there are people who will just never get lucky!!! In fact they only get bad luck!

Starting a statement with "not to be a pessimist" doesn't make it not a pessimistic statement. Which is fine - it's a valid perspective. Just own up to it.

"There are three ways to make a living in this business: be first, be smarter, or cheat."

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Firefox's picture

Congrats! Is there any advice

Firefox
      HF
 
(Orangutan, 274
 
Points)
 on 8/11/12 at 11:19pm

Congrats! Is there any advice you can give in terms of what you think went wrong during your interviews? Or is it normal to only get 1 offer after 20-30 interviews?

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hujja's picture

UnclePanda: Good job

hujja
      O
 
(Monkey, 45
 
Points)
 on 8/12/12 at 10:56am
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awqtfq's picture

Thread is almost a year old,

awqtfq
     
 
(Orangutan, 250
 
Points)
 on 8/12/12 at 10:15pm
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soccerlife11's picture

Great job, congrats! In same

soccerlife11
      IB
 
(Monkey, 39
 
Points)
 on 8/14/12 at 2:16pm
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huanleshalemei's picture

Great story.

huanleshalemei
     
 
(Gorilla, 518
 
Points)
 on 8/17/12 at 8:39pm

The Auto Show

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Vtechsl63's picture

congrats

Vtechsl63
      IB
 
(Monkey, 33
 
Points)
 on 9/1/12 at 11:38pm
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kraziazi's picture

Congrats, and thanks for the

kraziazi
      IB
 
(Senior Baboon, 220
 
Points)
 on 10/21/12 at 7:33pm
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bigtree53's picture

Congrats man, gives others in

bigtree53
     
 
(Chimp, 14
 
Points)
 on 10/24/12 at 11:12am
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DavidPenn101's picture

Hello sir. I am a college

DavidPenn101
      ER
 
(Chimp, 4
 
Points)
 on 10/26/12 at 7:01pm
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urbanmonkey141's picture

Congratulations, definitely

urbanmonkey141
      IB
 
(Monkey, 47
 
Points)
 on 11/11/12 at 3:55pm
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boredviewer's picture

Congrats!

boredviewer
     
 
(Senior Monkey, 71
 
Points)
 on 11/26/12 at 12:38am
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czyccs's picture

congrats!

czyccs
     
 
(Chimp, 12
 
Points)
 on 12/8/12 at 6:27pm

All we need is just a little patience

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precisepen's picture

congrats, great lesson to

precisepen
     
 
(Chimp, 2
 
Points)
 on 12/13/12 at 1:03pm
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jamil.ak52's picture

Congrats!

jamil.ak52
     
 
(Chimp, 1
 
Points)
 on 4/30/13 at 1:09pm
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  • I mass cold-emailed a bunch of firms yesterday, of course expecting very little this late into the recruitment cycle. Most of them replied "Sorry but the recruitment cycle is over". Quite a few have actually ended the email on "Sorry and pardon me, but how did you get my...
    LOL Finance People
  • BOOK E is way more than an online bookstore. It is an online marketplace, discussion forum, and social network where you can buy, sell, and trade the books, laptops, and supplies you need. You can compare prices, exchange notes, talk about which professors to avoid and which ones to look out for,...
    Sell Used Books Online - ilovebooke
  • This is my first post. I have been lurking for a while but please be...
    Questionable work experience
  • My friend in the industry is asking me to get a new watch and a new wallet to suit the financial industry image. He says please get a branded wallet and watch. Currently I am using a casio g-shock and a wallet that costs less than $100 given by friends on my birthday. He says image is very...
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  • Hey guys, where I can find all the M&A deals a specific BB was the banker for? For example, if I'm looking for all the deals JPM lead in HCIT M&A is there an easy way to find this list online? My group has all the banker books at our offices but I'm one the road for the next...
    Help - Don't have my banker books
  • Signed up with a boutique trading firm and started with lets say a few sheckels. Started in 08' as a pure unripened fruit and scalped my way up to holding more riskier and tougher positions. Was not easy just a "young blood" Moments where I had to make a ritual for a stock to make it...
    Prop trading advice from the bosses
  • Hello WallStreetOasis, I'm a rising freshman that is going to a target school next year on the West coast. I'm trying to plan my future, hopefully one in IB. I was hoping to get some advice from WSO. My goal is to have an internship at a larger boutique or a BB in the summer between...
    Advice for a Rising Freshman
  • So I understand that the Volcker Rule restricts banks from prop trading with FDIC insured capital/deposits (HF, Private Equity, etc.), but what if a bank uses non-deposit money? For example, capital raised from its own equity or debt, investor funds, profits, are these all part of the 3% exception?...
    Volcker Rule Clarification
  • ow do you determine the value of consideration if one unlisted company acquires another unlisted company in a share swap deal? As far as I understand the negotiations will focus on the ownership share of the target in the combined company rather than any specific value? Would you just use comps/DCF...
    Value of consideration in a private company share swap?
  • NU has an MS program in predictive analytics that I can do for around 40k(more like 30k after employer reimbursement and 20k after tax savings). I'm interested in this program for personal fulfilment reasons and potential social proof. How would this impact a PT-MBA admission decision...
    Online MS at NorthWestern to PTMBA later
  • Hello all, I'm about to begin as a summer analyst in the private bank at JPMorgan. Does anyone know anything about orientation? Although I'm very excited for this opportunity, I am considering looking into other areas of the bank after my summer is over. I have heard that in NYC,...
    JPMorgan Private Banking SA - Orientation
  • I was surprised that my offer letter said that I will get several weeks of vacation days. Is this for real, or would I anger people by actually using these...
    Vacation Days
  • Of this one person? This person is not linked through anyone else's "People also viewed". Please let me know and I will PM you with the information along with a SB....
    can anyone with Linkedin premium help me find the name?
  • How do Allen Edmonds shirts fit? If you can, compare it to Charles Tyrwhitt Extra Slim...
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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
You've just gotten that promotion and now you're in charge of a small team. Congratulations! And welcome to middle management. All the hard work and the knowledge you've developed about everything your firm does these past few years has been noticed. But, now you have a small...
7 Things I've Learned About Being A Manager
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
Assuming that you have access to no financial products such as FactSet, Bloomberg, CapitalIQ, Thomson or otherwise, thought it would be helpful to give a step by step guide on how to ramp up on a new company from your home computer. Using FaceBook as an example. Lets go ahead and start with the...
Basic Guide Ramping Up On A Company With Public Information (Part 1 of 3)
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)
Someone was asking me about this in PM and I wrote a long and detailed reply about what it is like to work in Big 4 and what advice I would give to people thinking about interning / working there. Thought it might be useful for others so my reply is below. Happy to answer any...
Working In Big 4 Audit in London
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...
<em>Mod Note: This is a syndication from Jared's Daily Dirtnap daily market newsletter. WSO readers qualify for a $100 discount...just email [email protected] and mention "WSO Monkey Discount" You can follow Jared on twitter at @dailydirtnap</em> There I go...
In Praise Of High Interest Rates
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