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Wall Street Oasis » Forums » I-Banking Bullpen
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Is an MBA worth it for me?
 

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What-to-do-What-to-do's picture
What-to-do-What...
     
 
(Baboon, 111
 
Points)
 on 2/18/11 at 2:15pm

Hi there, I graduated 3 years ago and have been working at a top investment manager in quantitative fixed income research. I am trying to figure out if an MBA is worth it for me and what my options now.

Brief background about myself, I graduated from Cal (Berkeley) Engineering 2 and a half years ago, and have been working at the investment manager in research since. I have passed all three levels of CFA and waiting for the charter (need another 1 and a half year of experience to receive charter).

I have been admitted to HBS but I am having second thoughts as to whether I should even do the MBA. My main concern is that I am making 170K all in this year and should break 200 in no time if I stay on. Does it make sense to forgo 2 years (400K) of income + pay 2 years of tuition and living expenses to get the MBA? Would it open up more options for me? Help me advance in my career? Another consideration is that I only need 1 and a half year more of work experience to receive my CFA charter, should I at least wait till then?

My end goal has always been to be a PM at THE Top funds like Blackrock/PIMCO or a top hedge fund.

  • MBA
  • I-Banking Bullpen
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Dr Joe's picture

I have no idea, but congrats

Dr Joe
      O
 
 
(Senior Gorilla, 989
 
Points)
 on 2/18/11 at 2:19pm

I have no idea, but congrats on HBS!

Curious to see what others say...

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NYorker's picture

Sounds like you're doing fine

NYorker
      IB
 
(Baboon, 170
 
Points)
 on 2/18/11 at 2:22pm

Sounds like you're doing fine already, but I would still go. Yes, you give up money to attend, but that's small potatoes for you over the long run if you reach Blackrock/PIMCO/HF.

If you want to be a top guy at a fund like that... the HBS pedigree will make it easier for you to get there. Also, if you ever want to start your own fund, the HBS network and brand name will help you attract institutional investors.

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BankMonkey21's picture

Congrats man your doing great

BankMonkey21
      IB
 
(Orangutan, 332
 
Points)
 on 2/18/11 at 2:40pm

Congrats man your doing great to be only 3 years out especially in this economy. I would say go as well when considering your main goals. HBS will put you over the top. I would also explore the HBS deferement program and see if you can hold off your spot for a year or until u can get that charter or save some money and see if you if you can advance where you are first. Just my 2 cents.

I Got a dollar and a dream...

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HFFBALLfan123's picture

Should come down to a few

HFFBALLfan123
      PE
 
 
(King Kong, 1,376
 
Points)
 on 2/18/11 at 2:53pm

Should come down to a few things... Do you like your job? and, Can you move up without an MBA? If the answer to both of those is yes and you just want to go to Harvard for the prestigue than you seriously need to rething your situation.

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Clarkey's picture

HBS admitted you only three

Clarkey
      PE
 
 
(Gorilla, 567
 
Points)
 on 2/18/11 at 2:55pm

HBS admitted you only three years out of college and one firm/industry on your resume?

What was your motivation for your application? It seems strange that you could persuade Harvard that you want to do an MBA there but that you can't persuade yourself?

An MBA is a while off for me, but some of the guys on here would kill to have an offer from HBS. If you don't really want it then you can be reassured that your place won't go to waste.

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In reply to Clarkey
What-to-do-What-to-do's picture

Clarkey wrote: HBS admitted

What-to-do-What...
     
 
(Baboon, 111
 
Points)
 on 2/18/11 at 3:14pm
Clarkey:

HBS admitted you only three years out of college and one firm/industry on your resume?

I don't think it's that uncommon. Another kid who started at the same time as I did in my class (although there's really no such thing as a class where I work since they only recruit a few a year) will be attending Wharton. Someone who started a year before I did is currently attending HBS. I also think having interned in BB front office sophomore and junior year helped? I have no idea but I don't think it's that uncommon. I also got into Wharton so I don't think it's an exception or anything.

Clarkey:

What was your motivation for your application? It seems strange that you could persuade Harvard that you want to do an MBA there but that you can't persuade yourself?

Well I am just having second thoughts when I realized the lost income, price tag and living expenses. I am just trying to compare what I am forgoing/paying to what I will get back in return and trying to make a sound "investment" decision :D

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GOB's picture

Is your lifestyle going to

GOB
      IB
 
(Senior Orangutan, 433
 
Points)
 on 2/18/11 at 3:24pm

Is your lifestyle going to change much? Will you feel the lack of income?

If not, then you mind as well go to HBS (lol that sounds funny out of context)

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WellsFargoBaker's picture

no point in going if you can

WellsFargoBaker
     
 
(Senior Monkey, 99
 
Points)
 on 2/18/11 at 3:28pm

no point in going if you can reach where you want without it

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Notepad's picture

HBS will hands down help you

Notepad
     
 
(Baboon, 120
 
Points)
 on 2/18/11 at 3:43pm

HBS will hands down help you if you are trying to transition away from pure quant. Otherwise, you'll have to feel it out based on what you think your promotion opportunities are.

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ILOVENYGUY's picture

Business school is a great

ILOVENYGUY
     
 
(Orangutan, 343
 
Points)
 on 2/18/11 at 3:49pm

Business school is a great place to pause and think what you want to do. It is also an opportunity to meet with a lot of employers and figure out what is really out there. While most of the HBS student body is a bunch of obnoxious pricks there are also some truly talented and cool people the likes of which you haven't met yet. If you make it to PM you will be easily making seven figures which means whatever income you are losing will make zero difference in your lifestyle 10 years down the road. Go to HBS, enjoy yourself, don't worry about the money, you also might learn something!

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ivoteforthatguy's picture

Dude, it looks like you

ivoteforthatguy
      O
 
(Neanderthal, 2,210
 
Points)
 on 2/18/11 at 4:27pm

Dude, it looks like you worked hard. You deserve a $570K, 2-year vacay.

PS Go bears!

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Midas Mulligan Magoo's picture

If your goal is to be a PM

Midas Mulligan Magoo
     
 
(Senior Neanderthal, 5,167
 
Points)
 on 2/18/11 at 4:52pm

If your goal is to be a PM the MBA is a waste of your time. The CFA will open up a lot more doors for a guy with your profile. If you do decide on HBS, wait until you have the charter in hand.

Where I unload on Twits and take verbal S***s

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DJ Long Straddle's picture

You learn more in the

DJ Long Straddle
     
 
(Senior Monkey, 69
 
Points)
 on 2/18/11 at 4:55pm

You learn more in the trenches than you do in the class room.

This applies to all MBA programs, except for HBS.

Head to Cambridge. PIMCO and Blackrock are not going anywhere (soon).

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mr1234's picture

Yeah, I am going to call BS

mr1234
      O
 
(Senior Orangutan, 490
 
Points)
 on 2/18/11 at 5:02pm

Yeah, I am going to call BS on this post. So you're saying you graduated in 2008 and are already making $170K/yr already, and you're probably 24-26 yrs old.

Assuming this is for real: no, it wouldn't make sense to go back school. You're making a salary that most HBS grads hope to make when they graduate.

Why would you come to an anonymous internet forum to ask this question? You have access to quality PM's already, you should be asking them, not the internet.

---
man made the money, money never made the man

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Sterling Archer's picture

If you like what you're

Sterling Archer
      IB
 
 
(Gorilla, 719
 
Points)
 on 2/18/11 at 5:06pm

If you like what you're doing, then by all means stay on. B-school is best for those who need to pivot or need to figure out what they want to do.

@mr1234: 170k/year for a 2008 grad is toppy but not unrealistic.

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DJ Long Straddle's picture

Yeah Mr. You're a fucking

DJ Long Straddle
     
 
(Senior Monkey, 69
 
Points)
 on 2/18/11 at 5:09pm
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    • Credits
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karypto's picture

Stay put and retire early.

karypto
      EN
 
 
(Senior Gorilla, 871
 
Points)
 on 2/18/11 at 5:40pm
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ILOVENYGUY's picture

CFA is completely irrelevant

ILOVENYGUY
     
 
(Orangutan, 343
 
Points)
 on 2/18/11 at 7:10pm
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ILOVENYGUY's picture

CFA is completely irrelevant

ILOVENYGUY
     
 
(Orangutan, 343
 
Points)
 on 2/18/11 at 7:11pm
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In reply to mr1234
What-to-do-What-to-do's picture

mr1234 wrote: Yeah, I am

What-to-do-What...
     
 
(Baboon, 111
 
Points)
 on 2/18/11 at 8:34pm
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In reply to ILOVENYGUY
What-to-do-What-to-do's picture

ILOVENYGUY wrote: CFA is

What-to-do-What...
     
 
(Baboon, 111
 
Points)
 on 2/18/11 at 8:37pm
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In reply to GOB
What-to-do-What-to-do's picture

GOB wrote: Is your lifestyle

What-to-do-What...
     
 
(Baboon, 111
 
Points)
 on 2/18/11 at 8:51pm
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Big Dreams-Little World's picture

How about about an executive

Big Dreams-Litt...
     
 
(Monkey, 52
 
Points)
 on 2/18/11 at 9:24pm

If it doesn't make dollars, it doesn't make sense.....

Dear Internet Users, Someday u will regret not reading me. Sincerely, Terms & Conditions....

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Status_Quo's picture

Sub'd

Status_Quo
     
 
(Senior Gorilla, 944
 
Points)
 on 2/18/11 at 9:46pm
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MPG's picture

Go to HBS.

MPG
      PE
 
 
(King Kong, 1,223
 
Points)
 on 2/18/11 at 10:18pm
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Antsman's picture

Put your family first they're

Antsman
      IB
 
(Orangutan, 270
 
Points)
 on 2/18/11 at 10:54pm
    • Credits
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International Pymp's picture

You should go to HBS. If it

International Pymp
      RE
 
 
(King Kong, 1,885
 
Points)
 on 2/18/11 at 10:57pm
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bearcats's picture

family first man

bearcats
      HF
 
 
(Orangutan, 276
 
Points)
 on 2/19/11 at 8:57am
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twopaths's picture

i am in a very similar

twopaths
     
 
(Monkey, 64
 
Points)
 on 2/19/11 at 10:43am
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Situation's picture

To echo the others, do you

Situation
      IB
 
(Orangutan, 290
 
Points)
 on 2/19/11 at 10:43am
    • Credits
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In reply to What-to-do-What-to-do
mr1234's picture

No need to get worked up.

mr1234
      O
 
(Senior Orangutan, 490
 
Points)
 on 2/22/11 at 12:39pm

---
man made the money, money never made the man

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jimbrowngoU's picture

Why wouldn't you believe he

jimbrowngoU
      VC
 
 
(King Kong, 1,311
 
Points)
 on 2/22/11 at 12:54pm
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noobstar's picture

help your family first then

noobstar
      ST
 
(Senior Baboon, 211
 
Points)
 on 2/22/11 at 12:57pm
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In reply to Situation
qweretyq's picture

Situation wrote: The

qweretyq
      ST
 
(Senior Orangutan, 446
 
Points)
 on 2/22/11 at 1:23pm
    • Credits
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dongeiss's picture

Opportunity cost is high for

dongeiss
     
 
(Senior Monkey, 85
 
Points)
 on 2/22/11 at 1:29pm
    • Credits
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In reply to jimbrowngoU
mr1234's picture

jimbrowngoU wrote: Why

mr1234
      O
 
(Senior Orangutan, 490
 
Points)
 on 2/22/11 at 1:39pm

---
man made the money, money never made the man

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SAC's picture

Take care of your family

SAC
      HF
 
(King Kong, 1,171
 
Points)
 on 2/22/11 at 1:40pm

Learn Financial Modeling
Interview Guides
Resumes

    • Credits
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In reply to mr1234
Buster McGillicudy's picture

[quote=mr1234]No need to get

Buster McGillicudy
      IB
 
 
(Senior Baboon, 184
 
Points)
 on 2/22/11 at 1:59pm
    • Credits
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Buster McGillicudy's picture

Sorry OP got off the subject.

Buster McGillicudy
      IB
 
 
(Senior Baboon, 184
 
Points)
 on 2/22/11 at 2:00pm
    • Credits
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pathsofglory's picture

Agreed. Support the family.

pathsofglory
     
 
(Monkey, 46
 
Points)
 on 2/22/11 at 2:04pm
    • Credits
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ivoteforthatguy's picture

In all seriousness: family

ivoteforthatguy
      O
 
(Neanderthal, 2,210
 
Points)
 on 2/22/11 at 2:12pm
    • Credits
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What-to-do-What-to-do's picture

Hi everyone, Thanks for all

What-to-do-What...
     
 
(Baboon, 111
 
Points)
 on 2/22/11 at 2:43pm
    • Credits
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dongeiss's picture

Your PM dreams won't be on

dongeiss
     
 
(Senior Monkey, 85
 
Points)
 on 2/22/11 at 3:00pm
    • Credits
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In reply to Buster McGillicudy
mr1234's picture

Buster

mr1234
      O
 
(Senior Orangutan, 490
 
Points)
 on 2/22/11 at 3:12pm

---
man made the money, money never made the man

    • Credits
  • 0
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In reply to What-to-do-What-to-do
mr1234's picture

What-to-do-What-to-do

mr1234
      O
 
(Senior Orangutan, 490
 
Points)
 on 2/22/11 at 3:14pm

---
man made the money, money never made the man

    • Credits
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junkbondswap's picture

mr1234, what field do you

junkbondswap
     
 
 
(King Kong, 1,736
 
Points)
 on 2/22/11 at 3:19pm
    • Credits
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Buster McGillicudy's picture

mr1234, I was going on the

Buster McGillicudy
      IB
 
 
(Senior Baboon, 184
 
Points)
 on 2/22/11 at 3:25pm
    • Credits
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ivoteforthatguy's picture

OP, your decision made my

ivoteforthatguy
      O
 
(Neanderthal, 2,210
 
Points)
 on 2/22/11 at 3:27pm
    • Credits
  • 0
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mr1234's picture

This is where I got my info

mr1234
      O
 
(Senior Orangutan, 490
 
Points)
 on 2/22/11 at 6:02pm

---
man made the money, money never made the man

    • Credits
  • 0
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In reply to mr1234
bfin's picture

mr1234]No need to get worked

bfin
      CF
 
(Neanderthal, 2,793
 
Points)
 on 2/22/11 at 6:10pm

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

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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?
  • I've uploaded the IBD template provided by Mergers and Inquistions to expedite the process of resume review. I believe it would be helpful for any prospective monkeys to review this template before posting. Hope this helps. ...
    Resume Posting
  • Would appreciate it if someone could breakdown my resume and inform me about any glaring...
    Resume Critique please
  • 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
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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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