Do you think wso discussions accurately reflect the way people think and act about schools, other banks and careers, money, prestige, politics, how important they feel their jobs are relative to other fields, etc in the IB and PE fields?
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Unquestionably yes.
Not necessarily! Wall street is much more diverse and for every frat type there is a reserved time and so on.
I've noticed at the more "prestigious" firms the WSO stereotype tends to very prevalent. However, at smaller firms I see a lot more men and women who see finance as a means to an end rather than the end itself.
I'm wearing a nametag with my WSO username at my SA this summer so I can continue discussions while at work with others.
I don't think the site is a very accurate reflection of life on the street at all... maybe that's because I don't work with prestige-whore douchebags tho... As surferdude mentioned, you will see a lot of junior guys who "get it," whereas all the college juniors/prestige focused kids on this site who think that Top Group >>> Top PE >>> Top MBA >>> Top Megafund is the absolute optimal path are completely delusional. They think that they are the only different ones for whom working till 4am and getting yelled at for missing an errant comma on page 21 of the Appendix of a 130 page pitchbook will not be a reality, and that they deserve everything life has to offer merely because of where they went to school. Truth of the matter is that it is an absolute grind. Are there cool aspects of the job? Sure. Are there crappy aspects of the job? Definitely. The difference between your work environment being tolerable and it being miserable is working with people who "get it." In other words, if you are working with kids that think they are God's gift to Finance and that they know everything, you are not going to relate very well, (they probably are going to be the ones whom coworkers can't stand also). The sense of entitlement that you see on this site is not quite as rampant in the workplace (at least from what I've seen, others may have a different perception), because in the real world you can't push back/talk shit as much when you are an Analyst because you are always looking up from under someone else's boot. Yes you will get perks, and you make solid money, but it DOES NOT make you any better than any other person you run into. I see so many comments on this thread of kids who think they are king-shit-of-the-universe because they got a great SA job. I'm psyched for you pal, because I know the work that goes into locking that down. But to think that you are better than someone else who is older and wiser than you is ludicrous. Especially, because once you become a full time Analyst, you will see how little of the grand scheme an SA gets to taste. They will get a glimpse at the hours and the lifestyle, but they aren't going to get the heat that you get on a day-in, day-out basis.
The ones who "get it." Go to work, know that shit is going to roll down hill, but have a solid head on their shoulders and find a way to deal with it while not acting like a pretentious douchebag to everyone outside of the office that they encounter. They have a plan of action to make a jump somewhere else to hopefully leverage the technical experience they've gained to go forth and do something better following their two year stint. For some that's PE, others HF, or maybe even an entrepreneurial venture, but ultimately, in my opinion at least... the greatest distinguishable trait between Analysts is attitude. I'm pretty convinced that life is 10% what happens to you, and 90% how you react to it...
HONESTLY MAN, IT'S SHIT LIKE THIS ^ THAT MAKES ME KNOW THAT THE WORLD/WSO IS NOT FULL OF THE DOUCHEROCKETS THAT YOU DESCRIBE. YOU FUCKING NAILED IT ON HERE. You killed it in that last paragraph as you obviously "get it".
Nice work. No sarcasm from me either.
-PD
Finally, someone that actually gets it.
You sir, will be very successful - purely based on your attitude (since I cannot comment on anything else bc I don't know you)
SB
anonymity brings out the worst in people
The prevalence of the WSO type in investment bank recruiting (Originally Posted: 09/27/2011)
This might be a rather strange subject to broach but I have been a passive reader here for quite a while and have been wondering about it all along: How many of the people applying for and finding jobs in investment banks actually operate along the lines proposed by the experts here. If you look at annual intakes at analyst and associate level or internships, what percentage of people has presented itself with one of WSO's streamlined resumees after talking itself in via copious networking, is equipped with relative in-depth knowledge of the financial markets, politely follows up after every interview etc., you get the idea. I am not denying that this is the best way and most things proposed here are absolutely valid, I am just trying to gauge the behaviour of the competition. Is this a small group making up the most diligent part of each intake while most people are just stumbling in with mediocre CV layouts and peripheral knowledge of the issues or has it become the way to go for almost everybody trying to make it?
Very true.
I see where you're coming from and I am in the same boat (long time, passive reader)
IMO, each recruiting/interview situation is different.
If you are entering the recruiting process, browse the forums and make your own decision as to which practice is best. Keep in mind that IB positions pay out and therefore attract the best talent - assume your competition is always a step ahead.
Yes, that was my assumption as well. On the other hand, people always tell you "don't overestimate the competition". So I was wondering whether there are actually some hard facts or experiences as to what the quality of the competition is really like.
Hard facts eh.. when no one calls you back and you see acceptances on a thread here... ahahha lol
Edit: Didn't mean specifically you, just in general
Haha, don't worry. So far I haven't done much applying, but I assume I will start complaining about neglect in a month or so. ;-)
I see where you are coming from. I go to a non target school, but I have diligently followed the WSO and M&I process throughout recruiting in my college career. I have done 2 BB internships, 1 boutique, and have just started a fourth internship while interviewing for full time opportunities.
I feel that I have a leg up on a lot of my peers in respect to networking, resume format, and interview skills. The majority of my friends just don't know how it works or are too lazy/unmotivated to care.
@Pari Yes, that was precisely the impression I was getting from my peers as well. I am just wondering whether that means they'll get automatically dinged or that many of the lazy from target schools still make it
pretty funny that someone threw shit at that... obviously the post went way over their head...
Nice post rufio. I second DurbanDiMangus.
This site is a reflection of people who have watched Wall Street and American Psycho a thousand times and think they are king shit. Working all the time, never seeing your friends or having a normal life, being yelled at, threatened, treated like an animal because of formating errors, having garbage dumped on you just as you are about to leave, that is the reality. Anyone working in finance soon realizes the banality of the work. You grind it out for an above average paycheck and hopefully use it to do something else.
Rufio spoke truth people. Respect and learn from his statements.
+1 rufio
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