Investment Banker to Hollywood Agent???

Its 80% who you know and 5% each of the above 4 skills you listed.

Ari Gold is a cartoon character.

There was an article sometime back that I read about a banker that (I think at JPMorgan) that basically bank rolls most of the major movies being made. I would think that would be the best way to go about it. If you're in entertainment banking all the studios are looking to you for funding... you get to know all the major studios and studio heads, all the major players getting these movies made. Eventually, if you wanted you could move more into the business side of things... as in more of a Dana Gordon when Ari sets her up for the studio head gig.

I would think you'd be very well known by studios in entertainment banking... and you could transition to a CFO-type role at a studio, then transition closer to the business and away from the finances.

Throughout all of this you'd be moving backwards... as in down the totem pole instead of up it. From a banker to a studio gig... ok thats one thing. But then from a studio gig to being an agent? Agents are wheelers and dealers lapping at studio exec's balls, the guys in the studios are the ones who run shit. Why would you want to be an agent? To try to be like this completely romanticized cartoon character on TV?

Article up yesterday -- http://blogs.wsj.com/deals/2010/04/12/ex-merrill-lyncher-breaks-into-th…

When last we heard from Bob Wigley, he was leaving after 12 years at Merrill Lynch before its acquisition by Bank of America to “focus on the next stage of his career.” Well, it appears he’s going Hollywood.

This isn’t a movie about the last days inside an independent Merrill, or even about global financial crisis that began in 2007. Instead, Wigley will be executive co-producer of a film version of Len Deighton’s World War II novel “ Bomber.”

The 1970 novel is a fictional account of an important Royal Air Force bombing mission in Germany that goes awry when a small market town is accidentally bombed instead of the target city. The storyline focuses on the effects on those involved both in the air and on the ground.

The former Merrill chairman for Europe, the Middle East and Africa will be involved in producing the film as well as helping to raise equity funding for the project. He has even written a piece of music that he hopes will be used in the film.

The film version of “Bomber” is still in the casting phase, with shooting to begin after that, Wigley said. The subject is particularly close to the former banker’s heart; his father was a Royal Air Force navigator on a Lancaster bomber during the war.

This is the second media treatment of “Bomber.” The storyline was dramatized in 1995 for the BBC’s Radio 4.

He is keeping busy in other ways, too. He sits on the advisory board of venture-capital firm BlueGem Capital Partners and in June became an operating partner at private-equity firm Advent International. He heads the Green Investment Bank Commission for the U.K. Conservative Party, which is to report just after the U.K. election.

Finally, he is deputy chairman of Business in the Community, the U.K. corporate social responsibility organization, and has helped in the U.K. government’s work on improving school governance by adopting lessons from the corporate sector. While at Merrill Lynch, Wigley produced a report for London Mayor Boris Johnson on how to maintain London’s competitiveness as a financial center.

Big time agents are just like bankers, only less smart. I have to admit though, it does seem more interesting. Sports agent sounds interesting too. Just have to be good looking and a good talker. Once you sign a decent client or two you're good. This is all speculation of course.

IBANKER => Reputable Bschool => Major talent agency mail room (WME / CAA / UTA / ICM) => Agent's assistant => Agent

You guys are funny. All outside of LA and don't know shit. It's ALL about who you know. And who says you have negotiating/interpersonal skills? All you do is model. VP and up obviously. But it's a totally different industry and you won't get in without knowing someone.

Just watched first three seasons of entourage and I was wondering the same thing lol. Doesn't seem like a path you can predict so easily. PE is the safer path towards millionaire status.

^ Everything he said is true..

A few of my friends from Stanford and USC ended up in the Endeavor(Ari Emmanuel's company before their merger with WM) mail room after college

And let me tell you this.. not a single one is still there. One ended up at going to Harvard and another went on to NYU to get their MBA's. The rest are at other major production companies doing more bitch work..

They were paid $12/ hour in the mail room and I think $25/ hr once they became assistants.

Basically you join a talent agency in hopes of meeting the right people so that you can lateral somewhere else.

The top agents make around 10mm a year, but I think my friend told me the average performing agent only earned $300k a year. And they work AROUND the clock with their phones ringing off the hook. See it as working IB hours, but with less pay and you get to say that you know a lot of celebs and attend crazy parties.

I am so happy I cam across this...

Why anyone would ever want to be an agent I have no idea.

Do what I do and you will be much happier and have more influence, produce and finance films. Your coming from Wall Street, an agency could care less about that BUT a production company will love it. For example my production company, is opening up a film fund backed by a HF and love ppl of your nature coming on board. Set up a fund, bring financing, set up deals, produce films.

You can start on independents, produce a few good movies and then strike a production deal with a studio or various studios and then what do you know you are a studio producer. After a few years you might say hey I want to work directly for Warner or Universal,... from the contacts you would know and your experience, you could transition into an executive position for one of the studios branches.

BTW: everything said in the two post above mine are 100% true. Do you really want to deal with all that??

Leonidus - I'm interested to hear more about what you have to say as well ...

Hahaha, even though my namesake on this forum is Ari, I would not aspire to "follow suit". I know a friend from top thirty NE U that did like 2 summers of unpaid internships for an B-C list star. It sounded horrible and he's still in the mail room, 2 years out last I heard. Pretty bright and social-able and fun dude. He's decently loaded but not sure about any connections.

Ari Gold is a cartoon caricature, it's amusing to watch him work on TV , and he's by far the best character of Entourage. But he's also like 40 yrs old. The first 10-15 years of agent's life sounds pretty annoying. But some people just love that scene. I personally could care less about the lives of celebrities and feel most are drama queens. But this girl I knew was obsessed about this and now working as some low level marketing firm in LA and gets to "rub elbows" aka serving celebrities their drinks and taking random pictures with them.

Does getting a JD actually help? I know another person getting a JD from top 10 law school to pursue to become a Sport Agent after 2 years in consulting.

I work for a top agency in Hollywood. It really isn't all that great, yeah sure it's very similar to Entourage the show, but only for a few agents. You need to be at the top and represent big time clients to make any money. You start off in the mailroom regardless of what degree you have, or what college you went to. I was in the mailroom with a Harvard grad who had his J.D., and a Yale grad with an MBA, and we were were all making barely over minimum wage. It really sucks to know all those years of education and you can't even go out to drinks without stressing about your bank account. You slowly move up the ranks from mailroom to floater, basically the assistants assistant. Stay there for a bit and then move up to an actual assistant. You are Lloyd; don't get any perks but get all the crap handed down to you. During pilot season if you are fortunate enough to work in tv talent you work 80-100 hours minimum a week. I've slept under my desk for days straight during this time, not ever showering and barely eating. As far as the hours they suck, probably as bad as I-Banking. You sometimes don't get a lunch or dinner, and find yourself wishing for a life. I am trying to make my way into I-Banking but since my experience is only in entertainment I am having a ridiculously hard time. If you have questions about the industry i will be happy to answer them.

Posts like the above make me feel blessed to be able to sneak out at 10pm on a Thursday and hit the clubs without worrying about the damage to my credit card :)

@ gsgoodse

Not taking into consideration your work visa situation, I'm sure if you really wanted to get into the biz you could. However, as I said before and other have confirmed as well, you would start at the bottom. I'm pretty sure it doesn't matter that you are older, have your JD and work experience. You might be able to progress faster than a 22 year old undergrad but I don't know for certain. What I do know is if you want it and are willing to sacrifice for what could be several years you can probably do it. But bear in mind just because you are an agent doesn't mean you will be a successful one. Also, a frame of reference, my old roommate is still an agents assistant and he has been working for 4 years now. Good luck.

OK. So what's the alternative? Is the music industry any easier? What about going to smaller agencies? Could you start as an assistant and work your way up? Don't know about the mailroom thing.

I know in law that a lot of the people who start off in the best firms quickly burn out and leave law altogether. Meanwhile, those lawyers who started off in smaller, less prestigious firms work less hours, deal with smaller, less stressful transactions, make their moves at the right time and actually end up taking the top positions in the marquee firms. Of course, nobody told us that at the start. Could this work with the Hollywood agencies?

Another thing. Just out of interest - is being a sports agent or manager any easier ie at somewhere like IMG or WMG?

Just curious to get and idea of the market ...

I don't think you get it. "Easy" and "make money" are mutually exclusive.

With respect, I don't think you get it.

I'm referring to the least taxing way to get into Hollywood, or agencies in general. Reading 'The Mailroom' it seems that the atrition rate in major agencies is ridiculous.

Can't you get in at a smaller agency, not have to do this mailroom thing and work your way up?

Strategies?

G

Oh and BTW, I couldn't give a crap about money. Otherwise, I wouldn't have left what I was doing.

I want to do something that makes me happy ... money will follow.

With respect to sports agency, CAA is raping and pillaging IMG for the latter's big guns. Sports takes a back seat to entertainment in LA, but IMG is based in effing Cleveland. Probably not a tough sell.

Article was in the Journal yesterday I believe.

Fair enough. I noticed that sports agents tend to be scattered all over the country ...

Would like someone in the know to comment on my earlier post re starting in a small talent agency and working your way up? Are there any boutique agencies and if so, who?

you wont be able to leverage very easily from a boutique agency to a larger agency or studio? 95% of top talent is with the larger agencies. The whole purpose for people working at agencies is to get an understanding of the business through transactions, deals, emails, meetings, etc. You wont be involved in the same type of deals at a boutique and thus wont gain that experience. Try CAA, WME, ICM and work your way down if this is really what you want to do. Stay focused on film or television if your end goal is studio position.

Just for everyone, my take on hollywood, agencies, film, whatever... compared to finance or even another sector for that matter: In finance even if you are at the bottom, people respect your degree, and your character to a certain extent along with your hard work ethic. In hollywood, no one cares what degree you have, harvard, yale, ITT tech, High School, no one REALLY cares. Not much you learn in college is viable to the work you take on. You take finance classes in college and you use what your learned throughout your profession, not hollywood, things are done fairly different here. Basically, and I don't condone this but you would be better off selling drugs on the streets, learning how to hustle and play people in preparation to working at an agency.

What I am saying is that wherever you start out, if you get in this industry, be ready to hustle, not just work hard for many many years to come.... more like decades.

alright people, let me tell you what i know. These are talent/literary agencies, we do not really focus on the other things but we do dabble in them. A great example is WME, they have the best music department, they represent everyone from Lady Gaga to Rob Zombie. They are not the only one's with a music department, Paradigm a smaller agency also has a very strong music department. CAA has a great sports department, they represent all the big names in sports, but once again do not focus on that. Gersh also has a sports department which represents good names. Agencies like IMG only focus on sports and nothing else, the others like WME, CAA, ICM, UTA, Gersh, and Paradigm put their hands in everything! They try to maximize profits! Music agents do not make as much money because they are only in charge of appearances(concerts), same thing with comedy agents. That is why comedians have a team of agents, a comedy agent for live performances and a talent agent for movies/shows. It is all a different ball game, where you need to know people in order to succeed.

The reason an IBanker would need to start from the bottom is to build these connections, no agency would hire you directly as an agent. NEVER going to happen, because you don't know anyone. You can't name casting directors, can't ask them for favors, can't get in touch with people. Since that's the case why would clients want to sign with you? So you would need to start from the bottom, work as an assistant, and move up after 5-7 years. You would start in the mailroom and go through the process i mentioned.

As far as working for a smaller boutique agency I believe it would be the same as in IBanking. You can't expect to be a lawyer and be hired as a Managing Director, you would start as an analyst or associate. Same thing applies to hollywood. Working for a smaller agency will help you move up faster, but you wont build the same amount of connections. No one will know who you are, therefore people will not take your call. There is a lot of call screening that occurs in hollywood especially agencies. It is what it is, and that's what you will learn. I can answer more questions if you guys like?

as far as where you can get a list of agencies, i would say use imdb.com. They have everything, but there are like a million agencies! You only hear of 5 or so, so be careful where you go. It's like production companies, Santa Monica is the land of them, seems like there is one on every corner! worse than starbucks!

V helpful guys, thanks. Two more very important questions I can think of at the moment ... average pay for an agent/manager and are these jobs 24/7 or can you have a life too?

As you describe it, in the worst of times (i.e. pilot season) you're working 80-100 hours a week... why would you need to sleep under your desk? Perhaps you're talking to a 80-100 hours work week and having the weekend off (i.e. 80-100 hours a week, but across 5 days).

There are much easier ways to "get connected" and hob nob with these people... why would you put yourself through that?