6 Free Financial Modeling Lessons...and More.

Points)

on 8/21/11 at 3:59pm

oh and I will try to get back to you as quickly as possible

The hardest thing in the world to understand is income tax. — Albert Einstein

I'm interested to learn more

Universite

(Baboon, 113

Points)

on 8/21/11 at 4:28pm

I'm interested to learn more about your career path

How do you add value? Do you

ezekiel

Points)

on 8/21/11 at 4:38pm

How do you add value? Do you also do some rates structuring or is your main function maintaining client relationships?

I think it would be great if

(Neanderthal, 2,671

Points)

on 8/21/11 at 5:07pm

I think it would be great if you could do a quick run down of your career and how you ended up in your seat. And just to get the ball rolling.

1. What skills do you think are the most important to have in order to be successful?

2. How would you describe what you do as opposed to other sales roles in less liquid products?

3. Do you have any good war stories? Client related or just something that has happened in the UST market that a normal student might not know about? (An example would be that during QE2 everyone would buy UST in the morning because they knew the Fed would come in and buy the bonds at the end of the day. One day a large bank (I believe MS) sold 2 yards to the Fed in the morning so they didn't need to buy anymore that day which left everyone hanging.

"Greed, in all of its forms; greed for life, for money, for love, for knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Teldar Paper, but that other malfunctioning corporation called the USA."

I have an interview coming up

coolstorybro

(Monkey, 44

Points)

on 8/21/11 at 5:25pm

I have an interview coming up and have a list of questions that I prepared answers to. Do you mind reviewing it and critiquing my answers?

1.) As far as Career path its

Points)

on 8/21/11 at 8:03pm

1.) As far as Career path its actually a good story. I came out of undergrad with a degree in economics, and I really wanted to get into finance, so I actually interviewed in a bunch of different places, but my grades were shit and I didn't know a ton about finance, my school name got me the interviews. So no one would take me and I had a buddy who was basically working a "brokerage house" that was about as close to a pump and dump boiler room as you can get without getting shut down. (These guys were real scumbags, they would front run clients and all that good stuff, but they were smart enough to never get caught) So I worked there for about a year when I was cold calling one day looking for a new account and I happened to call up the MD of Lehman's treasury desk, as we had somehow acquired his info, and i guess he was in a good mood, so he let me pitch him, and he liked my style enough that he invited me out for a drink and told me they had a spot on the sales desk to fill and I could come work for him. From there my career path was pretty standard, and now I should be up for a directorship this year at my current bank, (I bailed out of Lehman a few years before the crash, and build enough of a client base at my current firm, that I survived the layoffs although they still aren't really over).

2.) My main role is basically client relationships, however treasuries are often used in some of the complex securities our PHD's are always dreaming up, so am usually working in an advisory role letting the structuring desks know what different bonds might cost them, helping them out a bit actually designing the securities, but most of what I do is making markets. Recently I was working on developing a new trading software and I made the rounds selling it (or giving it away to the bigger clients) to our clients, so different tasks will come up now and again.

3.)Honestly if you want to work sales in really any market except equities, you have to know your shit inside and out. I'm on the phone all day with some of the brightest hedge fund managers, and it is there job to try to screw me over and my job to try to do the same without pissing them off too much. You need to be able to do math quickly, speak with confidence, and be informed about the market. But honestly there is not a ton you can learn in school. If you wanna work Sales I would definitely recommend a major in finance (economics is fine too but it helps to have a basic understanding of different products when interviewing). But other than that VBA is useful but we have guys to basically set you up, so I would recommend a broad based finance major and good GPA to you perspective monkeys.

4.)My role is extremely different from less liquid roles. The mortgage guys happen to sit about 20 feet from our desk so I'll compare them to us. Those guys are in an hour after us and leave an hour earlier, sometimes more. They don't even do a ton of structuring so its not more quanty or anything like that, they just have less constant buying and selling (I would say volume but thats not really accurate as they have a shit ton of volume it just comes in less frequent bursts). So I would say our desk is a little more "active" and maybe there is a little less to actually know. I think you basically deal with the same caliber client in any part of fixed income (even something as relatively simple as treasuries) as a more complex product does not mean a more sophisticated client, and often it is the exact opposite. (Who buys a security when a lot of the time the senior sales guy doesn't even know what the fuck it is?)

The hardest thing in the world to understand is income tax. — Albert Einstein

Coolstorybro-just post them

Points)

on 8/21/11 at 5:38pm

Coolstorybro-just post them up.

The hardest thing in the world to understand is income tax. — Albert Einstein

I'd like to keep it private,

coolstorybro

(Monkey, 44

Points)

on 8/21/11 at 5:41pm

I'd like to keep it private, can I pm them to you?
Only about 4 questions I have prepared so far so it shouldn't take any more than a couple of minutes to glance over

sure go ahead

looking for that pick-me-up to power through an all-nighter?

Points)

on 8/21/11 at 5:46pm

sure go ahead

The hardest thing in the world to understand is income tax. — Albert Einstein

Welcome to WSO! Have you

LIBOR

(Neanderthal, 2,156

Points)

on 8/21/11 at 5:47pm

Welcome to WSO!

Have you ever participated in your firm's recruiting process, and, if so, what qualities do you typically look for in candidates? What is the entire process like from beginning to end?

How many nights a week are you out with clients?

coolstorybro wrote: I'd like

(Neanderthal, 2,671

Points)

on 8/21/11 at 5:50pm

coolstorybro:

I'd like to keep it private, can I pm them to you?
Only about 4 questions I have prepared so far so it shouldn't take any more than a couple of minutes to glance over

Who gives a shit bro, it is not like your questions are going to be some magical bullshit. This site was designed to help prepare students and seeing actual feedback from a working professional falls into all those categories.

Sellthefed, it is up to you, but for the other posters I wouldn't answer the questions unless he posts them. And trust me if you start excepting PMs like that, will get a lot more. Better to have them in the open.

I don't actually look through

Points)

on 8/21/11 at 5:52pm

I don't actually look through resumes but I do interviews whenever we are hiring. I am like the 3rd or 4th interview you'd probably do. Honestly we first look at whether we have anyone who has "recommended" a candidate (ie a connection), and how important that person really is. (believe it or not having an analyst on the desk pulling for you is surprisingly helpful provided people like the analyst). After that it is probably work experience and then GPA with school name affecting both of those. But again I do not read resumes so I am sorry I cannot be more helpful. In the interviews I can say I want someone who I like and who is smart. I don't have a specific list buy just try to be personable. Those stories about the assholes from Lehman in Liar's Poker are not true in my experience. Most guys on Wall Street are good guys and hard working and not looking to screw you over. Just try to relax and make him like you. Thats the most important thing honestly.

I go out probably on average 2-3 nights a week. Not a great job if your married but damn did I have some fun on the corporate card while I was still single.

The hardest thing in the world to understand is income tax. — Albert Einstein

I also just promoted this to

(Neanderthal, 2,671

Points)

on 8/21/11 at 5:52pm

I also just promoted this to the front page. Someone else can add a picture. The last time I tried to add a picture I broke the computer.

Gekko21 wrote: coolstorybro

Points)

on 8/21/11 at 5:53pm

Gekko21:

coolstorybro:

I'd like to keep it private, can I pm them to you?
Only about 4 questions I have prepared so far so it shouldn't take any more than a couple of minutes to glance over

Coolstorybro I am going to defer to you. Whatever you want. To anyone else out there be advised if I start getting a million PM's I am only going to answer the forum so best to just post your questions here.

The hardest thing in the world to understand is income tax. — Albert Einstein

Welcome. It's nice of you to

Flake

(Neanderthal, 3,599

Points)

on 8/21/11 at 6:54pm

Welcome.

It's nice of you to take the time and help out.

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

What exactly is it that you

trailmix8

(Senior Gorilla, 931

Points)

on 8/21/11 at 7:21pm

Uh Ill have to review my

Points)

on 8/21/11 at 7:31pm

The hardest thing in the world to understand is income tax. — Albert Einstein

Sellthefed, thanks for doing

WallStreetOasis.com

(Human, 12,074

Points)

on 8/21/11 at 7:42pm

WSO Conference 2013

Private Certified User Chat

WallStreetOasis.com

Points)

on 8/21/11 at 7:58pm

The hardest thing in the world to understand is income tax. — Albert Einstein

I am looking to get in to

Dr3456

(Chimp, 7

Points)

on 8/21/11 at 8:22pm

Dr3456 wrote: I am looking to

Points)

on 8/21/11 at 8:29pm

The hardest thing in the world to understand is income tax. — Albert Einstein

sellthefed wrote: Dr3456

(Neanderthal, 2,671

Points)

on 8/21/11 at 8:38pm

We fired one "associate" and

looking for that pick-me-up to power through an all-nighter?

Points)

on 8/21/11 at 8:48pm

The hardest thing in the world to understand is income tax. — Albert Einstein

Question- Have you ever

spartahill

(Baboon, 146

Points)

on 8/21/11 at 8:50pm

How do you find new clients?

LIBOR

(Neanderthal, 2,156

Points)

on 8/21/11 at 8:51pm

In meeting a lot of different

(Neanderthal, 2,671

Points)

on 8/21/11 at 9:01pm

What's your opinion on the

pingafrita

(Baboon, 172

Points)

on 8/21/11 at 9:09pm

Ill answer the last four in

Points)

on 8/21/11 at 9:15pm

The hardest thing in the world to understand is income tax. — Albert Einstein

Oh sorry didnt answer the

Points)

on 8/21/11 at 9:19pm

The hardest thing in the world to understand is income tax. — Albert Einstein

The general consensus on here

leveRAGE.

(King Kong, 1,161

Points)

on 8/21/11 at 9:33pm

When will 10s30s finally

bearflatten

Points)

on 8/21/11 at 9:35pm

Again last 2 in

Points)

on 8/21/11 at 9:55pm

The hardest thing in the world to understand is income tax. — Albert Einstein

Thanks; wasn't testing your

bearflatten

Points)

on 8/21/11 at 9:58pm

And I hate to disagree but

bearflatten

Points)

on 8/21/11 at 10:00pm

How do you think that the

leveRAGE.

(King Kong, 1,161

Points)

on 8/21/11 at 10:03pm

To bear flatten-I have heard

Points)

on 8/21/11 at 10:19pm

The hardest thing in the world to understand is income tax. — Albert Einstein

How easy was it to catch on

ekimlacks

(Senior Baboon, 211

Points)

on 8/21/11 at 10:32pm

Full Time:
First Round - 4
Second Round - 2
Final Round - 2
Offers: 1!

Gekko21 wrote: coolstorybro

Mr. Hansen

(Gorilla, 519

Points)

on 8/21/11 at 10:44pm

By the time I got to Lehman I