Any Advice for Incoming First-Year Analyst???
Seeking advice on what to do and what not to do as I will soon start my first year on the desk. Would appreciate input regarding anything - work-related, stress-related, etc
Seeking advice on what to do and what not to do as I will soon start my first year on the desk. Would appreciate input regarding anything - work-related, stress-related, etc
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All the advice here is great: https://www.wallstreetoasis.com/forums/to-summers-hitting-the-desk-mond…
Print lol
Words of wisdom for incoming analyst monkeys? (Originally Posted: 07/18/2010)
Hey all - I'm sure there are many, myself included, who'd benefit from and/or be interested in the advice of some of the older guys about starting in IB - as a few will be this summer.
Dos and Don'ts, regrets, mistakes and bright ideas - all are welcome.
Thanks in advance.
Bb.
From what I hear, it's best not to let the words "But that's not how I was taught how to do it" to come out of your mouth
tis true..tis to better swallow than to spit
work hard, head down, no complaining, prove yourself, positive attitude, make sure the 2nd/3rd years arent dropping ALL of their shit work on you. its one thing to be a team player and another to be a lazy 24 yr old's bitch
honestly, the best tip i can give you is to not talk too much. alot of analysts think once they get comfortable with their group they can drop shit like "yeah i usually bottle / i can get all of us in this club / parents house is in ___ / etc" Your time will come when you can show how dope you are outside of work. Just refrain from talking about it so much. Never complain.
One thing that gets me through the day is I ask myself these two questions everyday:
"am I adding value to this group?"
"am I being a fucking all star / if they had to fire all analysts but me would they keep me"
Think before you say something, and it's ok to say that you don't know how to do something, but don't pretend that you know everything.
Do what you are assigned, and don't complain.
manage your workflow well. learn to say no to a task that you cannot possibly complete on time because you have enough other tasks you're dealing with. many SAs tend to wanna do work for everyone and never learn to say no which leads missed deadlines and pissed off analysts and associates. its better to say no ahead of time (only if you really cant make it that is - dont get caught going home early if you told someone you couldnt do something for them) than ending up with too much shit on your plate and not making the deadline. that will only screw everyone else working on the deal/pitch.
The simple things:
1) There are no dumb questions. If you're looking at a problem for more than 15 minutes and don't know how to solve it or don't know whether your approach is right, ask. Otherwise you're wasting your time and your associate's.
2) Take the time to check your work. Print everything out and go through with a blue pen making structural annotations, then go through with another colour for spelling, grammar checks etc. Keep vigilant on things like consistency of wording and significant figures. An MD that finds a mistake in your work will probably remember that rather than the overall quality of what you have done
3) Be proactive in managing your workflow. Ask your VP / SVP what meetings or transactions are coming up and what you can do to begin prepping for them. It'll save you countless late nights and means your immediate reports gets more time to review your work before it moves up the food chain
4) Own your area. For example, if you're running the analysis on the transaction, know if back to front. A good way to do it is ensure your model / worksheet has a summary of all the key inputs and outputs that's readily printable. For each major scenario or sensitivity, print out a copy and take it with you to read on the way to and from work. Its better to know that kind of info than what the market is doing. The same kind of thing applies for other areas (DD, documentation etc). If you can't provide a clear answer when your MD asks a question, you've failed.
The harder things:
5) Take the time to build rapport with your colleagues. More importantly, befriend the support staff (middle / back office guys and your PA). Try and go the extra mile and remember shit like birthdays, interests etc. Nothing builds loyalty like taking the time to care about the people you work with. Maybe not at first, but certainly as you move up the relationships you have at the firm will make you or break you. An absolute rock star can get away with being an asshole, but if you're anything less than that you'll find the going very tough.
6) Back yourself. Don't let yourself be bullied and don't put yourself in a position where someone can take the credit for your hard work. At the end of the day its your MD that decides what bonus pot you fall into (maybe with some feedback from your VP / SVP) and if he doesn't remember you well you're not going to do well.
7) Analysts are monkeys and are paid peanuts. Don't be a stupid monkey - have a long term view of career development and put that ahead of financial concerns in the first 4-5 years.
Thanks for the advice
To All Incoming Analysts (Originally Posted: 01/13/2011)
Welcome to NY
haha I lived in the city for a bit and thank god I never saw anything like that
Damn! I've never seen anything like that shit. What the hell. There's always rats in the subway, but ON a car and climbing on people? Holy shit.
Wow thats funny
BAHAHA thats great
I mean, it was only a matter of time considering the sheer number of rats that were already just crawling around in the tracks
Wow that's fu cking gross
Gotta love New York.
Ok this rarely happens. You're just as likely to be attacked by Soulja Girl if you're in Atlanta
YouTube her if you dont know what I'm talking about
Good lord...I would have lost it if that had been me, although I wouldn't have been sleeping on the subway but still
I can't even imagine the spectacle that would take place if that rat was on the same train as Soulja Girl.
He's lucky that rat didn't eat his face. I've seen chihuahua sized rats burrowing through the snowdrifts this past week.
WEEEEELLLLL, OBVIOUSLY WE HAVE A RODENT ON THE SUBWAY. HE'S CLIMBIN ON THE HOMELESS, HE'S WAKIN THEM PEOPLE UP, TRYNA SCRATCH 'EM SO Y'ALL NEED TO HIDE YO FACE, HIDE YO CHEESE, CUZ THEY CLIMBIN ON ERRBODY OUT HERE.
Last time I was in NY I saw a drugged up 40yo woman sitting spread eagle with no underwear on the subway at 3 pm in the afternoon. She also had headphones with the cable just dangling so Im guessing someone stole her mp3 player.
What a heartwarming story.
aaaannnd a silver banana for swagon. I just laughed my ass off. Thank you.
there's a woman who pole dances on subways to "spread the art" in my city.
there's a woman who pole smokes on subways to "spread the herp" in my city.
Haha swagon, unreal.
Incoming full time analyst (Originally Posted: 04/03/2014)
Looking for a Roommate in NYC
are you still looking?
Are you guys still looking for roommates?
still looking?
I am relocating to BB in NYC and looking to move ASAP. PM me if you're still looking.
From an incoming analyst (Originally Posted: 05/29/2014)
Hi (or, indeed, g'day) from down under. I've just managed to land myself in a position with a large international universal bank. I'm working in the financial institutions group and reporting to the head of global markets over here. I'm starting in less than a months time, so I'm diligently spending my last month of freedom on the internet.
Hi,
Congratulations. Few Australians on here - I'm heading into IB in February in Sydney personally.
Thanks - and to you also. Glad to hear there are a few of us!
Share with an incoming first-year analyst? (Originally Posted: 05/24/2013)
Hello WSO!
I am starting in July as a first-year IB analyst at MM IB. I am excited and nervous at the same time: not sure about group placement and the office dynamic and exit opps etc.
I am curious that if there is anything that experienced bankers would like to share here? things that you wish you knew then when starting out?
Thanks a lot in advance and best of luck to my fellow first-years!
1st piece of advice - Under the WallStreetOasis logo on the top left of this thread, you'll see a search box titled "Search WSO". Type what you're looking for there.
Also, there are multiple threads out on this already, including a very excellent thread on the front page about directed towards incoming 1st-years.
http://www.wallstreetoasis.com/forums/what-i-wish-i-knew-as-a-first-yea…
I wouldn't be worried about exit opps quite yet.
Don't over stress on simple tasks (which is all you will be doing in year 1)
Never turn down invitations for coffee or a drink from more senior bankers
Show confidence in client interaction early
Don't get too good or fancy at printing/binding/delivering stuff/other menial tasks or you might become the go to guy for the office
Don't neglect hanging out with fellow analysts - these people will be some of your strongest connections a few years out
Read your emails before you send them out, specifically who the email is addressed to. You don't want to accidentally reply-all and send a presentation to the client.
Incoming analyst (Originally Posted: 01/01/2014)
at CS
Congrats.
Congrats man!
Welcome to the site
Congratulations and welcome!
2014 incoming analyst (Originally Posted: 05/09/2014)
Hey guys, just joined and am an incoming IBD (team tbd) analyst in London. Great site!
Welcome!
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