Less Ivy League grads heading to Wall Street...
Is this good for Wall Street or bad? From Bloomberg:
We are witnessing the decline and fall of the investment-banking profession as we have known it for the past 40 years. The evidence is everywhere. The increasing regulations on Wall Street -- as required by the Dodd-Frank law and still being written by the Federal Reserve, the Securities and Exchange Commission, the Commodities Futures Trading Commission and others agencies in the U.S. and Europe -- will require the remaining companies to increase their capital, curb their risk- taking and reduce their principal investing.






Good. Less competition for
Good. Less competition for me. Let the entitled rich do what they do best...play with the children...while the hardened workaholics from the lower classes slash and burn a new clique on Wall Street.
Shit will be better run...this is best for everyone. The old guard never wanted to be bothered with doing this job correctly anyway, let them go 'discover themselves'. When they get their heads out of their asses, mommy and daddy will find them a good job, so don't worry about them.
Until then, now's our chance.
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
My favorite comment is the
My favorite comment is the one suggesting liberal arts majors are today's Michelangelos.
Don't believe everything you think.
UFOinsider wrote: Good. Less
Good. Less competition for me. Let the entitled rich do what they do best...play with the children...while the hardened workaholics from the lower classes slash and burn a new clique on Wall Street.
Shit will be better run...this is best for everyone. The old guard never wanted to be bothered with doing this job correctly anyway, let them go 'discover themselves'. When they get their heads out of their asses, mommy and daddy will find them a good job, so don't worry about them.
Until then, now's our chance.
Being at an Ivy League college and being rich don't have much to do with each other. Top Ivies are incredibly generous with their financial aid to their students who don't come from money. Many times, it is actually cheaper to attend Harvard than your state flagship. I can attest to the fact that at my Ivy, a significant portion of the class comes from very humble or average family background.
This article seems to suggest
This article seems to suggest that the reason why increasingly growing number of Ivy grads aren't ending up in I-banking analyst gigs is due to self-selection, due to Occupy Wall Street sentiment or whatever. However, I highly doubt that is the case. It is likely due to the simple fact that analyst jobs are much more scarce in this economy compared to before.
And, Ivy grads turning down Goldman IBD analyst job offer for Teach For America? Are you fucking kidding me?? No person in a sane mind would do that. Why the fuck would anyone turn down a 120k per year job for a 30k per year job unless he is retarded? If I happened to know someone who makes such a choice, I would force that individual to get his head examined for sanity. Seriously.
It's like when someone gives you the choice to choose from a Ferrari or Honda Civic, you would be fucking retarded to take Honda Civic just because you are afraid that others will think you are a rich spoiled brat for driving a Ferrari. Teach For America is an absolute garbage gig compared to Goldman IBD. Those two don't belong in the same sentence.
I would rather do bitch work
I would rather do bitch work than get spat on by minorities for teaching them math.
Ches wrote: get spat on by
get spat on by minorities for teaching them math.
And all that trouble and shame for that glorious 30k per year salary
Sexy_Like_Enrique
Being at an Ivy League college and being rich don't have much to do with each other.
Aside from the minority of smart kids from humble beginnings, wealth has EVERYTHING to do with this. Wait until you start working, it's even more noticeable. I'm from a working class town, and the guy sitting next to me spends his weekends in the Hamptons...and has the most sickeningly overentitled attitude I've ever seen. It's VERY ingrained here, and if these kids want to take themselves out of the equation...I'm all for it. Go, be free, educate and be merry. Meanwhile, I and a legion of other guys that never stood a chance get a crack at this.
FYI, I'm not against ivies or rich people....but I am neither and so this is an opportunity for me and people like me. You can argue this point if you like, but that's how it is.
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
UFOinsider
Being at an Ivy League college and being rich don't have much to do with each other.
Aside from the minority of smart kids from humble beginnings, wealth has EVERYTHING to do with this. Wait until you start working, it's even more noticeable. I'm from a working class town, and the guy sitting next to me spends his weekends in the Hamptons...and has the most sickeningly overentitled attitude I've ever seen. It's VERY ingrained here, and if these kids want to take themselves out of the equation...I'm all for it. Go, be free, educate and be merry. Meanwhile, I and a legion of other guys that never stood a chance get a crack at this.
FYI, I'm not against ivies or rich people....but I am neither and so this is an opportunity for me and people like me. You can argue this point if you like, but that's how it is.
Wait what? What does your example have to do with the student body at Ivy League colleges?
Let's face it - there are douches anywhere you go, whatever college you go, and there are those 'spoiled rich' brats pretty much at any major college of big size. For example, George Bush's daughter went to U Texas.
Maybe I could agree with your point that there is a bit of higher concentration of wealthy students at Ivy colleges compared to other colleges, but it is absurd to suggest that Ivy League and 'wealthy snobbery' are interchangeable objects.
I currently attend an Ivy.
I currently attend an Ivy. People aren't turning down WS jobs; they just aren't getting them anymore. A 3.2 English Lit major at Columbia, for instance, could have easily landed an IBD job with a bit of effort back in 2006, but these days it's next to impossible.
seedy underbelly wrote: I
I currently attend an Ivy. People aren't turning down WS jobs; they just aren't getting them anymore. A 3.2 English Lit major at Columbia, for instance, could have easily landed an IBD job with a bit of effort back in 2006, but these days it's next to impossible.
Dude, I fucking wish I was born just 5 years earlier. Fuck this shit, and fuck this economy...
Sexy_Like_Enrique wrote: And,
And, Ivy grads turning down Goldman IBD analyst job offer for Teach For America? Are you fucking kidding me?? No person in a sane mind would do that. Why the fuck would anyone turn down a 120k per year job for a 30k per year job unless he is retarded?
If their parents are worth lots of money, income right after college is irrelevant.
My man, if you are in an ivy like you say you are, wake up and look around at the people driving Mercedes and Porches to school at the age of 17/18/19. You still seem to have no concept of the money and power floating around you. If I came from wealth, there's no way you could make me work 100 hours / week unless I just loved it...but coming from almost nothing, 100 hour weeks is a small price to pay for access to wealth + power.
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
Sexy_Like_Enrique
I currently attend an Ivy. People aren't turning down WS jobs; they just aren't getting them anymore. A 3.2 English Lit major at Columbia, for instance, could have easily landed an IBD job with a bit of effort back in 2006, but these days it's next to impossible.
Dude, I fucking wish I was born just 5 years earlier. Fuck this shit, and fuck this economy...
It will pick up again, don't worry, just do your part and the rest will take care of itself. The fact that some of your classmates are idiots and not taking these jobs is good news for you and everyone here. In fact, I'm not going to state this point again, as I still have family members graduating.
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
will cohan really annoys me
will cohan really annoys me and this article is typical
he throws out some good statistics however seeks to explain them by throwing out a totally unsupported populist sucker-punch (that kids are going to TFA over GS). where is the data to support this?
In fact, the first two thirds of his article did a pretty good job explaining why fewer ivy grads (and why probably fewer grads in total) are going into WS - fewer JOBS! Cohan was too dumb to connect the dots within his own article. He even reverses cause and effect - saying fewer graduates are choosing WS because they see that it is sinking rather than the more logical explanation that WS is hiring fewer grads because its going through tough times.
Also, WS isnt as "cool" as it once was, probably lots of top grads are now going to work at tech firms. (Although is working at Facebook really more productive for society than working at MS?)
i thought after this guys book/rant on GS bombed that he would finally get his soapbox taken away
Sexy_Like_Enrique wrote: And,
And, Ivy grads turning down Goldman IBD analyst job offer for Teach For America? Are you fucking kidding me?? No person in a sane mind would do that. Why the fuck would anyone turn down a 120k per year job for a 30k per year job unless he is retarded? If I happened to know someone who makes such a choice, I would force that individual to get his head examined for sanity. Seriously.
My buddy turned down Greenhill, Evercore, HW and Deloitte S&O for TFA and he is STILL the smartest guy I know. He has 4 interviews with huge name PE and IB shops in the coming weeks for an internship between his first and second year for TFA. So he gets the TFA Bschool bump and the 'high finance' experience.
If I had asked people what they wanted, they would have said faster horses - Henry Ford
.
.
Sexy_Like_Enrique wrote: This
I don't buy this altruistic
Sexy_Like_Enrique wrote: And,
Believe it or not, not every
If all the people who wanted
MSF Website
MACC Website
MSF Twitter
To everyone saying that TFA
If I had asked people what they wanted, they would have said faster horses - Henry Ford
IRSPB wrote: I don't buy this
Some banks have refocused
Stupid article. They're not
Thurnis Haley wrote: Stupid
If I had asked people what they wanted, they would have said faster horses - Henry Ford
happypantsmcgee
Thurnis Haley
If I had asked people what they wanted, they would have said faster horses - Henry Ford
happypantsmcgee
DRX wrote: Sexy_Like_Enrique
UFOinsider wrote: Good. Less
Interview Guides
WSO Resume Review
JWR34 wrote: Some banks have
There are very few
Sexy_Like_Enrique
If I had asked people what they wanted, they would have said faster horses - Henry Ford
happypantsmcgee
Devils Advocate
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
Sexy_Like_Enrique
YOU JUST GOT TROLLED
http://www.troll.me/images/red-foreman322/dont-you...
I think most of you are
If I had asked people what they wanted, they would have said faster horses - Henry Ford
Quote: Having a hard time
William Cohan
My name is Nicky, but you can call me Dre.
Sexy_Like_Enrique
^^ Aaah so US recruiting is
IRSPB wrote: ^^ Aaah so US
JWR34
JWR34 wrote: IRSPB wrote: ^^
1. GS partnered with TFA a
WSO Conf - June 29, 2013
My response goes to this
http://www.wallstreetoasis.co
PS: Pretty sure it's "fewer"
Success is subjective. I,
seedy underbelly wrote: PS:
WSO Conf - June 29, 2013