4/30/12

It is time...

...After 6 years Tier2sta is also leaving the industry....

Why? A lot of what Mr Ridley states is true...

  • This thing's not as lucrative as most people imagined, definitely not so now that so much of the above base comp is deferred / deferred stock
  • Banks don't know what business model actually works, they have no idea how to get their ROE back up to where it was pre-2008
  • IBD teams are too thin, at officer level it means there is not enough depth in resource / quality resource below you to do effectively the things you want to do without constantly stepping down to clean up, mop up, fix, re-do.../li>
  • The glamour isn't what it used to be, and because of the increased levels of stress generally it is less fun
  • My contacts are as good as my business card in most cases (there are exceptions but a large proportion of clients I have interacted with see me in exactly the same way they see my peers at other banks, these are not deep and meaningful relationships and they are driven by the product my bank can offer)
  • My sector knowledge is superficial (I covered the same sector throughout). I could never learn about the sector properly through IBD. The more senior I became the more frustrating this became

So I am stepping down. Been a good ride. Some fond memories. But I think now is the time to try something else.

Peace...

Comments (103)

4/30/12

The WSO Advantage - Investment Banking

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4/30/12

Get busy living

4/30/12
4/30/12

"I am the hero of the story. I don't need to be saved."

4/30/12

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

4/30/12
4/30/12

Sometimes lies are more dependable than the truth.

4/30/12

Currently: clinical psychologist (in training)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

4/30/12

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

5/1/12

Currently: clinical psychologist (in training)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

5/1/12

Get busy living

5/1/12

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

5/1/12

Get busy living

5/1/12

Currently: clinical psychologist (in training)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

5/2/12

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

5/1/12

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

5/1/12

Currently: clinical psychologist (in training)
Previously: investor relations (top consulting firm), M&A consulting (Big 4), M&A banking (MM)

4/30/12
4/30/12
Best Response
4/30/12
4/30/12

Get busy living

4/30/12
4/30/12

MM IB -> TMT Corporate Development

4/30/12

I didn't say it was your fault, I said I was blaming you.

4/30/12
4/30/12
4/30/12

Sometimes lies are more dependable than the truth.

4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12

If I had asked people what they wanted, they would have said faster horses - Henry Ford

4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12

"I am the hero of the story. I don't need to be saved."

4/30/12

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

4/30/12
4/30/12

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

4/30/12

Get busy living

The WSO Advantage - Investment Banking

Financial Modeling Training

IB Templates, M&A, LBO, Valuation +

IB Interview Prep Pack

30,000+ sold & REAL questions.

Resume Help from Actual IB Pros

Land More IB Interviews.

Find Your Perfect IB Mentor

Realistic IB Mock Interviews.

4/30/12

"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected." - Jobs

4/30/12
4/30/12

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

4/30/12
4/30/12

"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected." - Jobs

4/30/12
4/30/12
4/30/12

"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected." - Jobs

4/30/12
4/30/12
4/30/12

"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected." - Jobs

4/30/12
4/30/12

"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected." - Jobs

4/30/12

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

5/1/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12

------------
I'm making it up as I go along.

4/30/12

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

4/30/12

Under my tutelage, you will grow from boys to men. From men into gladiators. And from gladiators into SWANSONS.

4/30/12

You're born, you take shit. You get out in the world, you take more shit. You climb a little higher, you take less shit. Till one day you're up in the rarefied atmosphere and you've forgotten what shit even looks like. Welcome to the layer cake, son.

4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
4/30/12
5/1/12
5/1/12
5/1/12
5/1/12
5/1/12
5/2/12
5/1/12
4/30/12
4/30/12
5/1/12
5/1/12

From the ghetto....

5/1/12
5/1/12
5/1/12
5/1/12

Metal. Music. Life. www.headofmetal.com

5/5/12
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