How to get into banking - and WSO myths...ST
You come from a non-target? Sucks to be you
You have a low ? Sucks to be you
You want a job in banking? Sucks to be you
I've been on this website for almost 6 years, and only recently re-started reading some of the posts. Most of them are pointless, but there is the odd post that will entertain me, and make me realise how bad you guys all have it. What really drives me nuts is the posts were people just exchange a lot of useless information and "inform" everyone wrongly.
So I will start with a few myths:
I messed up this question in an interview, I'll never get the job
When I interview people I like to ask the following question: "How do you hedge your gamma?"
When I ask it, I KNOW that you will not know how to answer it. The only reason I am doing this is to see your thought process and how you re-act under pressure. End of.
Should I were awith two or three buttons and a sock in the side pocket?
I don't care how you dress. I really don't, and nobody else does. If you are a student I don't expect you to come in tailored. Go to primark or some other cheap place, pick up aand a good white and a tie; go even to a used shop to get it! Make sure the went through the tailor at the dry cleaner so he can make it look a bit better on you, and that should make it so that you don't look like a clown. You can get dressed for less than $200 including everything. That also goes with: should i wear my expensive watch? I don't care.
The hours are so bad, you are treated like shit, etc...
True. Not a myth. Sucks to be an analyst.
I come from a non target, I have a low, I come from a target etc...
There is only one thing that works, and that is networking. At my old bank (think top
If you are not in that book, it probably does not matter either, if I like you and I see you made an effort to reach out to me, I will ask you to come in for an interview; formal or informal.
Will extra education, courses, theetc... Help me?
Unless you are a chartered
MBA, no - only if you are at a top school, it will give you access to me at networking events and that is the only thing that matters.
courses? What the fuck? NO!
Banking is still an extremely rewarding job, but that depends entirely on what you do and whether you are suited for it. Everything is not the same, and if you don't make it in banking. It's ok. I have friends on food stamp smoking dope all day long and they are loving it...
One last piece of advice:
I will take a candidate that shows confidence (NOT arrogance, an arrogant prick will be escorted out of the room after 2 minutes). Determination, not why they want that job, but to show me they want to succeed in life.
Also: don't crush my fingers when you shake my hands, grab the hands not the fingers numb nuts.
A final note I work in equities, but this is valid for the future bankers as well. Trust me, my friends in M&A,, etc... are the same bread I am made out of: human, and they don't like pricks...