Silver BananaComment PreviewAuthor
+78Glad to hear that JP Morgan has discovered conditional...Glad to hear that JP Morgan has discovered conditional formatting
+65Just one comment to Marcus. The way you describe...Just one comment to Marcus. The way you describe yourself looking down to people who somewhat lead a more "ordinary" life than you do is just an evidence of immaturity to me. (I am not saying that you are, just judging by the single comment above you appear to be). For instance, I have met a...
+63This is the kind of BS that MDs absolutely LOVE to tell...This is the kind of BS that MDs absolutely LOVE to tell themselves: "I am hardworking and tough, sure, but I'm also really fair and I let people have lives when they tell me about it. This would never be my analyst." Maybe you are as good a guy as you claim. Maybe you're not. Either way, you...
+55It depends on how you handle it, where you direct your...It depends on how you handle it, where you direct your energies, how you manage your work and personal time and your actual job. I'm older, senior, am married and have two younger kids and most of my friends and peer group are in similar situations so I'm speaking from experience. If you're in...
+41need real stories Last time I'm going to talk about...need real stories Last time I'm going to talk about this until I'm accepted to grad school: College: state school Major: Psychology, Ancient Religions GPA: 2.01 (out of 4, barely made it through) Internships: none Research: none Experience:...
+33As someone who did two summers in investment banking at...As someone who did two summers in investment banking at the same top bulge bracket and subsequently turned down a full time offer, I want to echo what another poster wrote about being wary of greener grass. It never is. There are always tradeoffs. The truth is that few jobs are...
+29I was let go from my first job late last year (mostly...I was let go from my first job late last year (mostly not my fault) and I figured, "screw it, top firm and great group out of college, I'll live." As the weeks went by and the air became colder, my bank balance withered and reality set in that I had failed at something. I hadn't been able to...
+28Let's start with the basics. 1. Nothing is...Let's start with the basics. 1. Nothing is impossible. 2. Hope is not a strategy. At some point, the probability for a given event is low enough that you should consider it impossible. For example, I could tell you to go win the lottery which would give you the funds to start running an...
+28ex cfo during the dot com period late nineties... The...ex cfo during the dot com period late nineties... The single most important choice you will ever have to really make is the person you marry. She can make you or break you. Don't pay attention to the pop psychology bull. No other investment can be anywhere as significant. And you don't just...
+27If you have an accent see footnote If you don't have...If you have an accent see footnote If you don't have an accent, read the following: Talk to them like a person. Don't be nervous, don't put on a facade that isn't real. You'll get exposed in less than three minutes. Don't lie to them. Women are the best liars on planet earth, their...
+26Personally I don't think it's changed who I am but it's...Personally I don't think it's changed who I am but it's drastically changed how I live, and I'm older than the OP by a decade. The easiest way to conceptualize it when you're a college kid is that you drink cheap beer, cans of domestic crap, kegs, plastic half gallons of cheap vodka, etc. Maybe...
+25I was actually introduced to the process while...I was actually introduced to the process while interviewing at Goldman. After stashing my topcoat in the secret behind-the-wall closet, the receptionist gave me the code for the men's room and told me to take my time - clearly she wanted me to go in and pinch a loaf. No one came in while I...
+25I'm a macro trader/strat, but started my career trading...I'm a macro trader/strat, but started my career trading EM. Firstly, you clearly need to do some research on your own. If you're starting on an EM desk, you can learn a lot before showing up just by using google. Anyway, emerging markets traders can cover many products and focus on 1-4...
+26I am still young.. but still i realize that things like...I am still young.. but still i realize that things like this are so sad to hear about. not just because someone died, but also because they killed themselves for reasons that are so insignificant. (assuming the suicides were largely driven by academic pressure - grades, school workload,...
+28Maybe it's because I'm from a different generation (not...Maybe it's because I'm from a different generation (not everyone got a trophy when I was growing up), but being a masculine male is still prized in my opinion. That doesn't mean being a sexist, racist asshole who feels like fighting and carrying a gun makes you a man (and I've been doing...
+26I don't give a shit what other people think and I don't...I don't give a shit what other people think and I don't hang out with hippies.
+25Probably Lehman because they got kicked off campusProbably Lehman because they got kicked off campus
+246. Flip shit. I don't recommend this most of the time...6. Flip shit. I don't recommend this most of the time but if you already have an exit in hand and you really want the night off, I've seen it work. A 2nd year analyst actually ran around the bullpen cursing when he was giving a deliverable Friday night which convinced the staffer to give him a...
+24First off, congrats on the offer. Second, congrats on...First off, congrats on the offer. Second, congrats on losing the girl. She dumps you on one of the happier days of your still young life because you were partying too much? Unless by partying you mean you get drunk and beat her or tried to fuck her best friend, you're much better off without...
+22could be an over generalization, but i think many people...could be an over generalization, but i think many people in our generation have a romantic vision of life in the working world, especially the corporate world. they think from day one they are going to have an impact, work on interesting and fascinating projects, and find some type of intrinsic...
+22I learned several things from this post that I found...I learned several things from this post that I found interesting. 1. Apparently, there are still people in this country with college degrees who only earn $42,000 per year. 2. The kid who mentioned how much he was getting paid was a douche for telling the whole class his pay level. He...
+22What the fucking fuck? Are you guys off your rockers? Do...What the fucking fuck? Are you guys off your rockers? Do so many of you really look at this and go, "What a bad idea! What kind of idiot would be so unprofessional? What if someone doesn't realise that it's a joke? Why is this guy wasting his time on this?" If anyone's reading this any...
+21I have the 2nd edition models, with the included PPT...I have the 2nd edition models, with the included PPT instructions. PM me for link.
+21@"mbavsmfin", yet again, you are commenting on something...@"mbavsmfin", yet again, you are commenting on something you have no clue about. I tend to agree that MBAs should look at banking as a career choice, but the reality is that only 50% of the associates we hire make VP and only 10% will make MD (at any bank). They need to exit...
+22What is this, Mic.com? BuzzFeed? "Thirteen Keyboard...What is this, Mic.com? BuzzFeed? "Thirteen Keyboard Shortcuts that will BLOW YOUR MIND. #7 impresses every associate!"
+20Examples of good penis jokes? Look down. Examples of good penis jokes? Look down.
+20This is pretty common. I went through the same...This is pretty common. I went through the same evolution and it took me a couple of years to realize that it had even happened. It is a terrible feeling when you wake up one day and realize that you're an asshole. You want to go back and apologize to all of those people that you degraded but...
+20I can see the future WSO threads... Is it more...I can see the future WSO threads... Is it more prestigious to structure your marriage as a cayman or delaware limited partnership? What kind of pref and carry terms are appropriate for an 8/10 wife?
+20Raising a first fund is really, really tough no matter...Raising a first fund is really, really tough no matter who you are (almost). I would never discourage anyone from being entrepreneurial but it is very difficult so if you decide to do it, truly know and accept it deep down. And I don't just mean on the surface and say that sure, other guys have...
+19You probably should have asked this question in...You probably should have asked this question in elementary school, going to be an uphill battle from here.....
+19Great topic, thanks for doing this. How would you...Great topic, thanks for doing this. How would you rank the Target vs. the non-Targets? What obstacles did you overcome to make it into a Target? Stats? Are you a URM? How did the cashier treat given your late status? Did you meet any future (or current) leaders of the world...
+18if 20 people reply or toss some sb;s I will tell storyif 20 people reply or toss some sb;s I will tell story
+18The issue of getting girls has come up more than once...The issue of getting girls has come up more than once lately. I've been everywhere of recent...out of school close 2 yrs now, so i remember what it was like in college, know how things work in terms of personalities on the street, etc. worked in BO, work in FO,etc. I saw a post a few weeks ago...
+18The fact that this guy went to Georgetown and calls...The fact that this guy went to Georgetown and calls himself "fratty" is hilarious, Georgetown doesn't even have Greek life. GEED
+18That article gave me cancer.That article gave me cancer.
+17I'll share my experience. I quit a partner track alts...I'll share my experience. I quit a partner track alts gig that would make many of the kids on this forum drool. I quit to pursue entrepreneurial opportunities within finance/the buy side. I was both burnt out and had the same existential issues with the job that you do. I figured I could build...
+19I just look at it as another way to let my classmates...I just look at it as another way to let my classmates know I'm better than them.
+17What the fuck is wrong with these people? Intellectual...What the fuck is wrong with these people? Intellectual curiosity? Animals hunt. That's what they do. They need to eat. As they near adulthood, they're taught by their parents how to hunt/provide for themselves. As human animals, we don't need to hunt to provide for ourselves. We need...
+17Do you guys have similar experiences? How do you guys...Do you guys have similar experiences? How do you guys internalize this? What is a healthy reaction to this? I run to the bathroom and cry. About 10 minutes later, I emerge red faced, point at the person who made the comments and demand they leave the venue. My voice becomes more and more...
+18Good...good....Let the hate flow through you.Good...good....Let the hate flow through you.
+17Crisis, conflict and tension are all key elements of...Crisis, conflict and tension are all key elements of drama. So is having a lead character going through a transformational experience.I would go for a tragedy. With this in mind, I would follow around a random analyst, show him sweating bullets over finishing a model in Excel and some...
+17Some prompts if you feel like it:a) Best single piece of...Some prompts if you feel like it:a) Best single piece of advice you've receivedi) About investing?ii) About career/work generally?iii) About life generally?b) Best trade you've ever had and why it was the best/how you knew it was a gonna be a winner?c) Biggest (investing) mistake you've ever...
+16Wait...you think b-school is going to teach you 'in...Wait...you think b-school is going to teach you 'in depth modelling skills'? B-school teaches you advanced undergraduate-level finance. It does the same for marketing, accounting, organizational behavior, etc. It definitely does not teach you advanced modelling skills that are beyond what...
+16I dated a co-worker. 12 years later, she's my...I dated a co-worker. 12 years later, she's my wife. ie this can only end in unhappiness
+16The investment strategy is 98% identical across the...The investment strategy is 98% identical across the board. The difference is very slight nuances in approach and how they do their work". Bain for example, likes to buy brands (like Dunkin Donuts, Toy R Us, etc), KKR probably falls into this fray somewhat too. That's about as much as I...
+16Sorry to hear that man. Don't really have any advice,...Sorry to hear that man. Don't really have any advice, except telling him you'll be in at 7:01am tomorrow because his ex-wife took a long time in the shower.
+16My first PE interview, I had no business being there. I...My first PE interview, I had no business being there. I was interviewing with a fund that basically only hired consultants, and the interview format was case study based. I had never done a case study in my entire life up until that point but I figured what the hell, an interview is an interview...
+16i read an article that they believe he killed himself....i read an article that they believe he killed himself. No offense, if you're going to kill yourself over a job your priorities in life are really screwed up. I learned a while ago to take your job seriously, but not beat yourself up over it. Life's too short. Doesn't mean don't be great at your...
+16Seems like you're a rich kid who got to spend his...Seems like you're a rich kid who got to spend his college days living off daddy's dime.
+16Can I just point out the obvious? This guy is obviously...Can I just point out the obvious? This guy is obviously not in IBD, as evidenced by 155k annual income 7 years into the job. And flat pay several years running. What are we talking about here?it says in the article "junior quant/tech guy". In other words, IT. My mouse isn't working...
+15Suppose I can help you. In terms of what to put on your...Suppose I can help you. In terms of what to put on your resume, almost every IB resume I've seen included a "transaction experience" section. In the section, usually its 1 sentence per deal, and sometimes analysts will include their specific roles, and some will just list the deal. If the...
+15Yes, there are tremendous opportunities in Asia right...Yes, there are tremendous opportunities in Asia right now, reminiscent of the US in the 30's and 40's. IPO's are sprouting up left and right, entrepreneurs can (and often do) go from nothing to a net worth of 8-9 digits in 3-4 years. BUT, some things I've noticed: 1) A lot of *extremely*...
+15No... the structure would be as follows... The LLC acts...No... the structure would be as follows... The LLC acts as the management company and serves as the General Partner for the Hedge Fund which is structured as a LP. I want to open a hedge fund. I hire an attorney and pay all the fees to open up Frieds Capital Management LLC. Their job is to...
+15Funny story of my own - I lived relatively close to a...Funny story of my own - I lived relatively close to a well-known actress and happened to see her every once in awhile leaving my building. funny celeb hookup story of my own - I googled "anna kournikova" and her pictures gave me a boner
+15Oh please. OP, here's a list for you: Silly shit...Oh please. OP, here's a list for you: Silly shit assistant vice presidents do: 1) go on wall street oasis and write posts complaining about the silly shit their interns do. The end. There was a day when you were an annoying little intern shithead, too. So was I. Do the right thing...
+15From a friend: $70K base for your first 18 months...From a friend: $70K base for your first 18 months (stub year plus first full year) $80K base for your next 12 months (full second year) $90K base for your last 6 months (Jan-June third year) 1st bonus after your first few months is flat across first years and is slightly less than...
+15I don't think those courses are necessary in the...I don't think those courses are necessary in the slightest. Stephen Moyer's Distressed Debt Analysis, while geared towards the investing side of distress, has a great overview of the bankruptcy system and the mechanics of debt. I'm sure having done interview prep, you all have probably read...
+15Depends on whether you work for a Renaissance, Fortress,...Depends on whether you work for a Renaissance, Fortress, Citadel, or DE Shaw, or if you work for one of the more boutique funds. The large funds tend to be running stat arb and HFT, and yes that requires some programming skill and quant background. The smaller shops tend to involve MBAs...
+15How good is big 4 consulting out of top 15 mba schools?...How good is big 4 consulting out of top 15 mba schools? I always thought that it was a huge step down for grads from top 15 programs, but the money does look appealing. Depends, it's a complicated question. Deloitte S&O is almost as good as MBB (although still decently far away),...
+15Do you put "future non-virgin" on your Tinder profile as...Do you put "future non-virgin" on your Tinder profile as well?
+15Post pics of both girls and set up a poll, you're in...Post pics of both girls and set up a poll, you're in good hands here
+15I feel you. I am also a man of God, which makes it a...I feel you. I am also a man of God, which makes it a huge challenge to work in this industry of sin. One time while working in sell-side research I bumped into an investment banking associate who used to cover my sector. We briefly exchanged greetings without a compliance chaperon as we stood...
+15How to stop rumors you're a womanizer: Send out a...How to stop rumors you're a womanizer: Send out a video to all of your friends of some guy buttfucking you.
+15Hello, 1. Why not just try to start with a PE...Hello, 1. Why not just try to start with a PE firm? There are PE firms that hire juniors out of undergrad. However, this 99.99% of the time is in a sub-associate role. In other words, you would be junior to me. I’m only pointing this out because I don’t want you to think that a person...
+17Personally, I must disagree. I find these...Personally, I must disagree. I find these posts/emails/thoughts so sophomoric, egocentric and ill-informed. Everything about the email is just utterly ridiculous. I could tear it apart line by line but why waste the time or energy. If I had to guess, this email wasn't written by a highly...
+14Ok Tek, I feel the need to show you that I'm not just a...Ok Tek, I feel the need to show you that I'm not just a troll and point out the folly in your ways, and how you managed to leave a sour taste in pretty much everyone's mouth from a short 1 paragraph post: Free lunch to anyone in JPM, BoA- ML or GS in Toronto This thread went sideways from...
+14I worked at one of MBB for three years, and know many...I worked at one of MBB for three years, and know many people from both of the other two firms (I'll try to keep hidden which one I worked at in this post, but that will probably be difficult). Before getting into my views on the three firms, let me caveat all of this by saying that all...
+14ContemplatingBanker – I read your post and empathized...ContemplatingBanker – I read your post and empathized very strongly with what you wrote. I have been in a similar place myself and, in some of my lowest moments, remember reaching out to a few trusted advisors and getting literally nothing back from them. Despondent about this, I hunkered...
+15There aren't many blacks in banking because black people...There aren't many blacks in banking because black people are scary. Not as scary as Chinese people, but still pretty frightening. But on a more serious note (I don't think black people actually are scary), if you lump black in with lower income and assume they get into a top college that is...
+14it'd be pretty funny if there was a site similar to WSO...it'd be pretty funny if there was a site similar to WSO where girls write stuff like: "How I went from 10 rejections to one dream sugar daddy", "Acing the first date with an Investment Banker", "Life after sugar dating - the suburban roads", and "15 things I wish I knew in my first sugar...
+14I've seen a lot of people who moved to Thailand with...I've seen a lot of people who moved to Thailand with this in mind. Usual life path: 1. Marry a local Thai lady 2. Buy property in Thai lady's name (as foreigners generally can't own property in Thailand) 3. Get fat, smoke too much pot 4. Have child with Thai wife 5. Get shaken down by...
+14THANK THE LORD I finally passed Level II - was my third...THANK THE LORD I finally passed Level II - was my third attempt. Fuck yes getting mangled tonight boyssss
+14Passed Level II! Did a lot better than I thought. What a...Passed Level II! Did a lot better than I thought. What a relief! I feel like Andy Dufresne climbing out of a half-a-mile long, shit-filled pipe.
+14the exit opps are simply breathtaking. LOL ......the exit opps are simply breathtaking. LOL ... queerest thing I've read on here in 48 hours
+15Dude, you were practically lynched! You're lucky you got...Dude, you were practically lynched! You're lucky you got out of there alive. So social justice warriors are all bad, you're completely against them but as soon as you perceive the slightest racist sentiment you cry about it and actually make a big enough deal to get some retarded bumpkin...
+14Lets not pretend like she's not getting railedLets not pretend like she's not getting railed
+13Don't just take a step back and look at the bigger...Don't just take a step back and look at the bigger picture, take two steps back and look at the biggest picture. Life’s a crazy ride and you don’t get to know when the ride ends until it’s time to get off, so don’t waste it being pissed off because you didn’t get an offer from GS. I...
+13Here's the real answer to your question. One day,...Here's the real answer to your question. One day, when you're a bit older, you'll take a course on logic, and you'll learn that to defeat an argument, you must either attack the predicates or the logic itself. Your logic is reasonable, but I reject your predicates. One of your main...
0I wan't to be the very best Also very rich dun dun...I wan't to be the very best Also very rich dun dun dun dun to get all the 100s in my walllett to buy bottles is my cause dun dun dun dun i will travel across wallstreet fucking main street over each 100 that i get to release by baller in side! wall street! its you and me i...
+13I can't answer if PE is the best job in the world but I...I can't answer if PE is the best job in the world but I can offer a little outside perspective that some may be interested in. Having spent the better part of the last decade in SEAL Teams and other specialized units, I found Seabird’s initial post slightly amusing. If you’ll humor me,...
+13Let's start with the basics. 1. Nothing is...Let's start with the basics. 1. Nothing is impossible. 2. Hope is not a strategy. At some point, the probability for a given event is low enough that you should consider it impossible. For example, I could tell you to go win the lottery which would give you the funds to start running an...
+13Very sorry to hear about that man that's awful. On the...Very sorry to hear about that man that's awful. On the flip side, this is certainly something you can recover from, as always a man is defined by what he can come back from. With that said here are some good steps. 1. Knowing you have a positive vibe with your previous employer immediately...
+13Tough call - I have my thoughts to share, and they are...Tough call - I have my thoughts to share, and they are relevant, but perhaps no clear cut answer at the end of it either. A few years ago I was in a similar position to you: I had a pretty well paid + somewhat respectable job in finance, but for various reasons I became desperate to...
+13It's hard to provide an intelligible answer to a...It's hard to provide an intelligible answer to a question as vacuous as "is competition **artificially** inflated". What could possibly be the meaning of "artificial" in this context? What is a "natural" level of competitiveness, if not the level that organically emerges? And then your follow...
+13A taco for a taco sounds like an even exchange to me.A taco for a taco sounds like an even exchange to me.
+13If someone asks you what is your greatest weakness is,...If someone asks you what is your greatest weakness is, you should tell them you're a dick.
+13Vagina here. Sorry that your workmates are such cunts. I...Vagina here. Sorry that your workmates are such cunts. I apologize on the behalf of my sistren. The solution here is clear - back off. Be professional, curt, and fake to your female coworkers, especially your superiors. Most male superiors love to be called out, schooled, what have you, but...
+13I don't think it's a bubble, I think parents, teachers,...I don't think it's a bubble, I think parents, teachers, and kids need a better understanding of what the realities are and plan accordingly. $25k is a lot, but I graduated with more than that, took a salary that most of this board would laugh at out of UG, and still made ends meet, it's...
+13"You have to Greece the pan before you fry the PIGS""You have to Greece the pan before you fry the PIGS"
+13Gentlemen, I believe the realization that he was...Gentlemen, I believe the realization that he was married to a whore who would go live out her anal fantasies with the entire city's baseball team while he was busy building a future for his family is the one and only reason why this man is down. I really am very sorry for him and hope he gets...
+13fap it out fap it out
+15You're the guy who made the funny posts about OCR. Well...You're the guy who made the funny posts about OCR. Well you're not being funny anymore. Also, fuck you and your OCR-induced megalomania. You're only one or two steps above pond scum and dog shit on the totem pole and shouldn't be giving shit advice to people who actually need help and are not...
+17-Stay away from Brown... too many pot smokers...-Stay away from Brown... too many pot smokers there. -On that note, Dartmouth is also disqualified. -Wanna die? Go to Cornell. If you value your life, don't go. -Harvard has too many kids with rich parents and I heard it's overrated. I would avoid it. -Princeton doesn't even do business....
+13@DickFuld any thoughts on writing a book? Also, can you...@DickFuld any thoughts on writing a book? Also, can you revive the "Bleed Lehman Green" shirts? Or maybe create ''F*ck Paulson" shirts?https://www.youtube.com/watch?v=0GGV3GGHD2Q any thoughts on this hater's questions for you?I saw part of that video you posted and it upset me. I had a...
0From my experience, the best analysts are the guys who...From my experience, the best analysts are the guys who catch on quickly and are able to grasp the "bigger picture" concept. I mean "catch on quickly" in a very broad sense -- it certainly applies to modeling and becoming efficient around Excel/Powerpoint, but those are pretty indirect -- they...
+15So here it goes then. Why I think this is a pathetic...So here it goes then. Why I think this is a pathetic ramblings of an uneducated douche bag. We are Wall Street. It's our job to make money....Just like gambling, its not a problem until you lose...well now the market crapped out....well here we are The first two paragraphs make finance...
+12I came by this thread wanting to add my two cents, but...I came by this thread wanting to add my two cents, but then I realized that every bit of knowledge I wanted to add has already been dropped by TheKing, bankbank, Kenny Powers, and apprentice7697. I've scattered about 10 SBs throughout the thread agreeing with you guys. TheKing summed it up...
+13I was at one of the major banks during the implosion. ...I was at one of the major banks during the implosion. Still not comfortable talking about which firm I worked for and EXACTLY what it was like, but let's just say that if you worked in fixed income pricing and analytics, the phones were ringing off the hook near the end of the second week of...
0Wall street bankers talking about how much they make is...Wall street bankers talking about how much they make is like porn stars talking about their dicks. Everyone knows it's huge and it lets them fuck a ton of women, but talking about it won't make it get any bigger and just pisses off those who aren't as well endowed.
+12Respond with: "Hehe, good one bro. See you in summer."Respond with: "Hehe, good one bro. See you in summer."
+12Are you guys seriously arguing that an NFL cornerback...Are you guys seriously arguing that an NFL cornerback and former head of the NFL Players Union should be less impressive to an AdCom than Analyst #78 in Goldman Sachs Industrials, Waste Management and Utilities silo who interned at the Boys and Girls Club once a month? This site is ridiculous.
+12Well, theoretically, you determine the appropriate...Well, theoretically, you determine the appropriate required return using the weighted average cost of capital. You would find the cost of equity, specifically, using the capital asset pricing model (CAPM) or the fama-french 3-factor model (FF3). At least, that's how you'd be taught in school or...
+12Excellent thank you. SBed. A few more questions for...Excellent thank you. SBed. A few more questions for anyone who cares to answer. 1. What are the top PE shops out there outside of the MFs? 2. When and how should an analyst start prepping for PE interviews? 3. Having gone through the process, what are a few things you wish you had known...
+13I'm a first year analyst in corporate banking. I'm not...I'm a first year analyst in corporate banking. I'm not sure how Citi structures their CB department but as a first year analyst, you'd be focusing more on underwriting transactions and monitoring the debt portfolio rather than schmoozing clients. A first year analyst would have no idea how to...
+13Inequality really isn't an issue. Let's not forget the...Inequality really isn't an issue. Let's not forget the natural state of man is poverty, not wealth. The reason for decreased mobility is more a function of intelligence begetting intelligence than anything else. Smart people are seldom poor, poor people are seldom smart, granted there are always...
+12I don't want to rain on your parade, just give...I don't want to rain on your parade, just give perspective a few years (gulp... already? time accelerates with age!) down the road of having done the same. I gave up a shot at a commodities trading career (not futures, the proper physical stuff a la Glencore, etc. - posted a bit about it here...
+12Everyone replying to you thus far are a bunch of tools,...Everyone replying to you thus far are a bunch of tools, don't listen to them. I get that you're offering up what they're referring to as "excuses" in order to signal that you're not dumb and you can be high achieving if you apply yourself. You have to understand the people posting on these...
+16In my analyst days I downed a corona or two and would...In my analyst days I downed a corona or two and would come right back upstairs and crank on a model for a $4 billion LBO. How many billion dollars was that kid worth? My deal would have made my bank like $20 million... that surgery probably cost like $50-100k. He has NO prestige. What a tool,...
+12Classic case of the mis-pricing phenomenon called...Classic case of the mis-pricing phenomenon called 'jelly', which tends to cause a lot of confusion, but also creates room for arbitrage given the right analysis. Let's dissect and disseminate, and see if we can make some sense of this tragic crime against modern-day vanity. Let's assume your...
+12I have a kid and will have more than one at some point...I have a kid and will have more than one at some point in the near future. I couldn't imagine having a kid as a junior, but I am home much more now (than analyst/associate years) and have 0 interest in hanging out with anyone other than my family after I leave the office. Sure, sometimes I need...
+12Nothing wrong with being a career banker. I almost went...Nothing wrong with being a career banker. I almost went that route (i.e., was a VP at a BB) and love banking work. Believe it or not, some people actually enjoy having clients, seeing deals through, and getting paid a pretty penny to do it. It's important to note a few things. Not many high...
+12MBA students are socially confident In social...MBA students are socially confident In social settings, the law students are awfully awkward and geeky and stick out like sore thumbs. Perhaps it's due to the fact that many of them are straight out of college and thus haven't refined their social savvy in the real world. They would make...
+12I was going to be done with this thread, but saw this...I was going to be done with this thread, but saw this article and saw the above article and felt compelled to chime in one more time. 1) The best jobs are easily obtained from top schools - Fact and isn't going to change. With affirmative action and Ivy's trying to socially engineer their...
+12Living in the region, I think you can basically split...Living in the region, I think you can basically split major cities in these categories: 1. big important global hub (NYC, London, Tokyo), 2. smaller "suburban" like first world (Sydney/Melbourne, SF, Chicago, LA, Singapore), 3. second world (Shanghai, Beijing, HK, maybe Bangkok and KL,...
+12The fact that you would make a post like this implies...The fact that you would make a post like this implies you have zero social intelligence anyway so I would just go for high gpa
+12In my early 20s, I really believed that in order to...In my early 20s, I really believed that in order to succeed all you need is work really hard. You gotta be gritty to succeed. You gotta put in long hours to be successful. You gotta be very good at technical things and establish yourself as a thought leader in particular domain. I don't think...
+14Single guy in NYC here. Had a turkey sandwich for...Single guy in NYC here. Had a turkey sandwich for lunch. Cajun style--Harris Teeter made it pretty clear their direct brand was marked down 10% relative to the Boar's Head stuff. Which is all good... Basically I like the cajun turkey because it adds an element of spice to the sandwich. It...
+12Profanity is the crutch of the inarticulate. Says a...Profanity is the crutch of the inarticulate. Says a dude who is probably never going to work on Wall St. Seriously? Creative profanity is a core skill.
+12"alright, we will now have some informal networking"..."alright, we will now have some informal networking" My eyes widen and I sit bolt upright. I can feel sweat beginning to accumulate as I walk toward the front of the auditorium. I wipe my clammy hands on my dad's blazer and feel my throat tighten. The adrenaline has begun to kick in. I can...
+12Out of everything in this post I want to try the bucking...Out of everything in this post I want to try the bucking bronco the most
+12I have a dual degree in Computer Science and Business...I have a dual degree in Computer Science and Business Admin. I think about this choice everyday, and I do reckon on both sides of the spectrum that there is the perception of grass being greener. The only difference is, finance people think more about the tech business than the other way around....
+12It becomes a different scenario when you have a family...It becomes a different scenario when you have a family to consider. I'm not there yet, but it would require a really honest conversation with my imaginary wife about what we wanted for our imaginary kids. Ivy Prep in the city like Dalton/Trinity? Further afield in the Ten Schools? Abroad like Le...
+11I think you guys should really be careful before you...I think you guys should really be careful before you select Investment Banking as your career on any of these dating sites. It was nearly four months ago that I first created my profile on match.com. I'm no Jonas brother, but consider myself a decent looking guy. Anyway, I selected investment...
+11First off - do NOT go into banking for the pay. When...First off - do NOT go into banking for the pay. When you've been getting 3 hours sleep a night and have to deal with inane requests from your seniors, the pay doesn't make you happy. Banking in London is very similar to that in the US. The main difference from a recruiting point of view is...
+11Most of what's been said already is pretty accurate. If...Most of what's been said already is pretty accurate. If you want to do anything accounting related, including FP&A, there's no question that Big 4 is one of the best places to start your career. In fact, I'd even argue that there are certain advantages to Big 4 that investment banking doesn't...
+11Preempting all the other responses here: -First couple...Preempting all the other responses here: -First couple posts will ask what city these offers are for. -Several people will call into question whether or not BAML and JPM are generalist, as those guys normally place SAs into groups. -Nobody will tell you to pick BAML. One asshole will tell...
+11Out of curiosity, how competitive is JPM Private Banking...Out of curiosity, how competitive is JPM Private Banking or even Private Banking in general, relative to IBD? Within PB, I would say JPM is the most competitive, with Goldman a close second and CS coming in third. As far as relative to IBD, no, it is not as competitive as IBD. But it is...
+11I'm going to speak very freely and candidly here and...I'm going to speak very freely and candidly here and will probably end up disclosing more personal information than I should on an anonymous bulletin. I am a black male with a fairly strong GPA and a 99th percentile GMAT. I am an alumnus of the SVMP program at HBS and aim to matriculate into...
+11You asked why there isn't more diversity on the street...You asked why there isn't more diversity on the street given that only 'average talent' is required. Here are my thoughts. One: you have to have a complete package to get hired. Elements of a complete package: connections, grades, prior experience, relevant knowledge (interview prep),...
+11And as promised, here's my story... Hopefully this helps...And as promised, here's my story... Hopefully this helps at least someone because I just wasted an hour when I should've been reading lol MY BACKGROUND I’ll be honest, I essentially tanked summer analyst recruiting last year. I had non-noteworthy stats (3.6 gpa, wealth mgmt. internship)...
+11I have had some experiences in M&A and coverage in...I have had some experiences in M&A and coverage in London and Frankfurt, hence these are the two cities I can comment on. There's plenty of information on London which is why I will focus on Frankfurt. 1 Leading players: It's basically the big players that you see in London and NYC, some are...
+12"We wore our sweaters in case you were deaf and couldn't..."We wore our sweaters in case you were deaf and couldn't hear us tell you we went to Harvard."
+14I didn't retain any of it, because it was pump and dump...I didn't retain any of it, because it was pump and dump for a stupid test. This is the reason you failed. That you honestly believe this is precisely why you failed. The exam did exactly what it was supposed to do: weed out the children who haven't learned to take responsibility for and...
+12The NYC liberals are at it again. The low income people...The NYC liberals are at it again. The low income people who can live in this building or any other luxury building in NYC should count their blessings for winning this lottery. They pay only like 20% of the market rent while the rest of us have to bust our ass off to get a halfway decent place...
+11Yeah, keep your head up - and realize there is a skewed...Yeah, keep your head up - and realize there is a skewed perspective of the world and careers among a lot of college students (esp. people on this website, and funnily enough especially people who've never done banking - the kind of people who will say GS or bust, I'd never work at a place like...
+11Are there any guides on here for getting a top...Are there any guides on here for getting a top girlfriend? Think banker/lawyer/doctor. I really don't want to go mid-tier and settle for engineer/accountant, but friends with target girlfriends told me sometimes you can start there and lateral. Any guidance? PS: freshman in HS so take it...
+11in order of importance 1. prestige 2. quality of...in order of importance 1. prestige 2. quality of shoes worn by analysts (are they cole haan or is everyone rocking gucci & ferragamo) 3. ratio of hermes ties to southern accents (ideally you want this to be unsolvable, because you can't divide by zero) 4. location of investor...
+12I remember once I went down to the printing room to get...I remember once I went down to the printing room to get some pitch books for my so-called "MD". The dude looks at me and goes, "You come here all the time, I printed your books for free." I was like, "Man! What do I look like? A charity case?" I took it... and THREW IT ON THE GROUND. I...
+11Her preference for facials is probably what led her to...Her preference for facials is probably what led her to Asset Management, where it's all about client service. The IBD division went for the kids who preferred taking it up the ass.
+11Sorry to call you out @"mbavsmfin" but.....Direct quote...Sorry to call you out @"mbavsmfin" but.....Direct quote from you in a similar thread in 2013 that I just stumbled upon. "Sounds lame to me. Bunch of MBA douchebags and mediocre looking MBA girls going on an overpriced yacht trip when they don't have income coming in. Give me a fucking break." ...
+12Dude, what is wrong with you?Dude, what is wrong with you?
+15Screw diversity. It should all be about performance and...Screw diversity. It should all be about performance and merit, I do not see how diversity might bring anything to the table than make some employees feel comfortable about themselves. Jobs shouldn't be given put because your ethnicity,color of your skin or even sexuality. I'd say alot more...
+11the bike guy justify his action by saying "its only one...the bike guy justify his action by saying "its only one stop" "its only one stop" Correct response would be "Then ride your fucking bike there"
+11Tell them how awesome the closing dinner at Taco Bell was. Tell them how awesome the closing dinner at Taco Bell was.
+11While I admire what you do for your family, are you...While I admire what you do for your family, are you happy? Personally I need free time to read and exercise in order to feel fulfilled (I barely get that now as an analyst w/o a family). What motivates you? Good question. I am happy. I have a great wife, two wonderful kids and a career that I...
+11Just keep fucking and texting, you'll be fineJust keep fucking and texting, you'll be fine
+11Real talk, i wouldnt waste my life working 80...Real talk, i wouldnt waste my life working 80 hours+/week consistently for any amount of time (and especially not in my 20's) unless I had a) pure passion for that work and b) had clear equity participation on the upside. Mind boggling to me how many kids are willing to give up years of...
+11I'm going to take a stab at this because I believe...I'm going to take a stab at this because I believe you're seriously misguided 1. First, why is the client willing to pay so much for a few people to do the task that is not even that complex. The money spent then eventually trickles down to labor. you'd be shocked at how shitty owners are...
+11When I was living in Asia, I was frequently complemented...When I was living in Asia, I was frequently complemented for my ability to use chopsticks. Also, for my ability to speak Mandarin and Chinese (EDIT: this should have said Cantonese), despite being a foreign devil. I always felt that, in the eyes of the Chinese, even two whites could never...
+11If anyone joins the bulge bracket, it will be a...If anyone joins the bulge bracket, it will be a full-service bank with a massive balance sheet bolstered by a retail arm. Think Wells Fargo. The speed of this will depend on how quickly they're able to develop the brand and reputation of their advisory franchise. I don't think it will be...
0no I'm actually not trying to start trouble at all. Just...no I'm actually not trying to start trouble at all. Just curious to see how I stack up. Pinky, you should post a picture of one of your friends that all your other friends say your prettier than and we'll tack on an extra .35 out of good faith. Some of the comments might sting but they'll be...
+11I don't think the site is a very accurate reflection of...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...
+10how much shit do you have to go through? How many times...how much shit do you have to go through? How many times do you have to fail in order to succeed? Wish there was an easier answer but the truth is "as much as it takes." You only need one yes. Try reaching out to a few mentors for an honest assessment of what you are doing wrong. It is...
+10I have only worked for one female boss in my finance...I have only worked for one female boss in my finance tenure, thus I only have the following anecdotal evidence: So I'm a first year analyst sitting in a management presentation for this sellside deal we're working on. The VP on the deal is a female - and a pretty smoking one at that. ...
+10coolstory, bro. tell it again. I'm gonna start off by...coolstory, bro. tell it again. I'm gonna start off by talking about myself a little bit. I'm 16 years old and I'm a junior in a high school in the suburbs surrounding NYC (Long Island). I come from a working class family where we get by, but things can get pretty tight at times. I really have a...
+10I've hit a lot on the "real reasons" why someone might...I've hit a lot on the "real reasons" why someone might choose MM over Large Cap / Megafunds. Some of these also make for good answers (responsibility), while others make for poor answers (less hours). I'll try to take a different approach here. You're currently at a BB. Try to think of all...
+10Let me preface this comment by stating that I detest the...Let me preface this comment by stating that I detest the Ron Paul movement, mostly because the movement attempts to rigidly apply ONE 18th century governing domestic and international philosophy to 21st century America without so much as acknowledging that 1) the Declaration of Independence and...
+10This doesn't surprise me at all. This is going to sound...This doesn't surprise me at all. This is going to sound like a hater post but it's not intended to -- this post is based on 7 years of experience in the industry and watching plenty of H / S / W MBAs flounder after graduation (post-Lehman). I can only really speak about the particular niche...
+10Part II So it’s month 5 and I’m sitting in a café...Part II So it’s month 5 and I’m sitting in a café in Bogota talking to an American who’s passing through on break from B-school (Yale SOM). This person proceeds to tell me that they did an internship in IB and were contemplating an offer to return. We exchanged stories, and they...
+10Yes, exactly. Though you'll use credit docs for lots of...Yes, exactly. Though you'll use credit docs for lots of other purposes greater than just putting together a cap table (more on this later). The credit doc will help you populate the cap table by providing the following (and more I'm probably missing) useful info: - Principal amount -...
+10CRE's (Semi-Serious) Guide to Having Presence in...CRE's (Semi-Serious) Guide to Having Presence in Interviews (With Extra Expletives for Effect) Listen up, slidejockey, you nervous, non-talkative, sweaty, meek little man, because I am a behind-a-keyboard badass and I am going to save you from yourself and your homoerotic WSO name with...
+10Seems every week or so there's a post of this general...Seems every week or so there's a post of this general variety on WSO. I get the point and agree with the general notion, but in the end most of these posts (including this one) just come off as "Look at me, I'm more badass than you." You're preaching to the choir. There are some exceptions,...
+12Buying a home Getting married Having children Being...Buying a home Getting married Having children Being Republican or Democrat Endless consumerism These are all constructs meant to enslave people. Plain fact is buying a home is a liability in this economy. I will caveat this if you buy a condo/town home in a good sized city. You can easily...
+10Our trading strategy is event driven. For example, when...Our trading strategy is event driven. For example, when there are gunshots outside we stop trading.
+10On a side note, I do rather like the "choose your own...On a side note, I do rather like the "choose your own adventure" WSO edition of the post. Re-reading it, you could infer: ...that OP bought her a taco and took her back to her place and either: (a) banged; (b) murdered; or (c) tickled her... ...in the morning he felt guilty and...
+10A better metric is the fact that I can sit on a beach...A better metric is the fact that I can sit on a beach all day drinking, and fucking blondes. Yet you're on an internet forum arguing with strangers.
+10I'd also add to this that there is a fairly common...I'd also add to this that there is a fairly common psychological phenomena where almost everyone, even the extremely wealthy, don't consider themselves wealthy at all. If my memory serves me right its for two main reasons: (1) as your income rises, as does your social circles and view of...
+11This is a great link and I would encourage others to...This is a great link and I would encourage others to read it. I think one of the key things for developing successful relationships is to establish expectations and figure out compatibility early on. This is, admittedly, an incredibly difficult thing to do, especially when your judgment is...
+10The ones that put the bulge in bulge bracket. You want...The ones that put the bulge in bulge bracket. You want the beefy ones that really make your resume pound its way to the front of the pile. The competition for these ones is stiff, and you'll probably just want to explode if you don't get these positions, but you'll feel an immense relief if you...
+10Everyone has a story to tell. Some stories are amazing,...Everyone has a story to tell. Some stories are amazing, some stories are bland, some stories are funny, etc. But...EVERYONE has a story to tell. Your job at a networking event is to be a reporter and "get the scoop." DO NOT turn this into a verbal LinkedIn Profile. Don't ask about work...
+10Spending the first two years post-college investing in...Spending the first two years post-college investing in your career is the absolute best thing you can do for yourself long term. The first couple of years can often dictate the path you're on for your entire career. You're right, it is going to suck. You're going to work long hours. You'll...
+10Former Wells Fargo Employee*Former Wells Fargo Employee*
+10some of the strangest people post on wsosome of the strangest people post on wso
+10edit: I thought this was a general discussion, not a...edit: I thought this was a general discussion, not a specific timing question. short answer: no, "now" is not the time because you should never time the market. agree upon your net worth's % of real estate and stick to that. I realize all of my below comments are irrelevant but I wanted to leave...
+10Congrats on getting in! As a current bschool second...Congrats on getting in! As a current bschool second year (T15, not M7), I can help shed some light on your question. I was in consulting before school and am exiting school to an industry role. Bottom line, consulting does give you the most flexibility a couple of years down the road in that...
+10love this Jared. curious what @IlliniProgrammer has to...love this Jared. curious what @IlliniProgrammer has to say The difference between thrift and cheap is a pretty fine line, but it comes down to possessions vs people. Order a PBR for $2.50, but leave a $1.50 tip. Buy a house in a really nice school district; give everyone their own...
+10This article really hits the spot, especially since I am...This article really hits the spot, especially since I am a big fan of broad sweeping generalizations about large groups of people (which all just converge to one homogeneous blob), as well as vague catchphrases like "hard work" and "follow your dreams" and "earn it". Everything is so clear now.
+10B-Po: Corporate Credit Risk for FIG. Dude you...B-Po: Corporate Credit Risk for FIG. Dude you don't count. Front-office banking please. This is outrageously comical considering you, the OP had to LIE on your resume to get your current investment banking gig at some no-name shitty boutique. I especially applaud you for putting down...
+10Flewbye, you mention there are a lot of positives and...Flewbye, you mention there are a lot of positives and negatives to the military. I would love to hear some of the negatives. On the surface you flew planes for 9 years, traveled all over the world, experienced some incredible profound things and now 95% of your MBA is being paid for at a target...
+10Two girls at the same timeTwo girls at the same time
+10While her looks have declined significantly since 2007,...While her looks have declined significantly since 2007, I'd still hit it.
+10I highly doubt he took this stake without a future...I highly doubt he took this stake without a future transaction lined up. I personally think the end game here is the break-up of Pepsi, with Frito-Lay merging with MDLZ and the beverage business going to AB-Inbev. -Peltz is on the board of MDLZ and has wanted a breakup of Pepsi forever (read...
+10Exactly. He spent college fucking around and traveling...Exactly. He spent college fucking around and traveling the world (again on his daddy's dime. Top prep schools aren't cheap...) and was able to still land a job because of connections within his privileged and sheltered social class. I mean, I'm not really that pissed that this happened because...
+11Correct me if I'm wrong, TraderDaily...but could one not...Correct me if I'm wrong, TraderDaily...but could one not argue that a really great protein bar has a better return than an MBA (and CFA), even if your salary increased by 1000 dollars per year for the rest of your life? Haha what sort of nonsense analysis is this? Who sees a $1k bump in...
+11K3 should win this year's "most insecure and incoherent"...K3 should win this year's "most insecure and incoherent" post of the year. What the fuck was that.
+10Many reasons, but a few that stand out are: The...Many reasons, but a few that stand out are: The narrators attempting to posit a theory from a psuedo-evolutionary perspective through a focus of the era immediately proceeding The World Wars. "Your grandparents and great grandparents didn't just have sex for fun." "Women are the gatekeepers...
+10I just want to take this post to say f#ck taxi drivers....I just want to take this post to say f#ck taxi drivers. Every time I travel with my 50-year-old MD, he insists on using a taxi because he is not familiar with Uber, and every time the cab stinks, the driver is rude, and the credit card machine is "broken".
+10I wanted to provide everyone with an update. After...I wanted to provide everyone with an update. After several weeks of testing, I'm officially cancer free!!!! It ended up being a virus that was causing the false positives and leukemia-like symptoms. Thanks again for all of the support and positive thoughts.
+10Absolutely agree. I'll leave aside sales in the finance...Absolutely agree. I'll leave aside sales in the finance field (and commercial real estate because it falls under the same umbrella of not truly producing things and being obvious high potential incomes-no offense) because that's been discussed multiple times, and all of the other posts are spot...
+10You're in a really fortunate position. I would pursue...You're in a really fortunate position. I would pursue something that allows you to build (more) wealth. Wealth isn't generated by wages, it's generated by ownership. Find something relevant to a passion or deep interest of yours and either buy or build a business around it. I didn't read...
+10So why shouldn't you ice injuries?So why shouldn't you ice injuries?
+10Let them walk out. I'd love to take their spot.Let them walk out. I'd love to take their spot.
+10I'm putting the odds that your gf is cheating on you at...I'm putting the odds that your gf is cheating on you at 99%. if you're this cocky, you're probably naive too. she might marry you, but not before her box has been worn out by dudes who are cooler than you. PS: playing football at dartmouth is like saying you majored in theoretical physics at...
+10It's an epic meditation on intangibility. At the same...It's an epic meditation on intangibility. At the same time, it deepens and enriches the meaning of the preceding three albums. Christy, take off your robe. Listen to the brilliant ensemble playing of Banks, Collins and Rutherford. You can practically hear every nuance of every instrument....
+9You're right in that Prime Brokerage isn't discussed all...You're right in that Prime Brokerage isn't discussed all that much on this site, thus I don't even really know too much about it. So could you just briefly go over what you actually do in prime brokerage? How is it similar and different from S&T (if they're even related at all)? Let me give...
+9#1- the industry has been and always will be highly...#1- the industry has been and always will be highly volatile with low job stability; this isn't something new. I was reading an article in the throes of the credit crisis about lay offs on wall street and how this marks a major paradigm shift in Wall Street excess and culture and will shake the...
+11Eddie, I have to say, most of your posts are spot on -...Eddie, I have to say, most of your posts are spot on - but I'm really disappointed to see you advise these young monkeys not to get married for simple concern of money. There is a lot, lot more to life than making a sht ton of money and hoarding it away. I myself am happily married, under 30 ys...
+9People are questioning how to fast track and become a...People are questioning how to fast track and become a PM. The answer to this is that you shouldnt fast track - that is, unless you want to lose money. Look at the most successful and profitable HF manager in the world - Ray Dalio of Bridgewater Associates. Ray took home $3.9 billion last year...
+9Pshh. If WSO has taught you anything, it should be that...Pshh. If WSO has taught you anything, it should be that your probability of getting a job is a direct function of how many random people who don't want to talk to you that you stalk by locating their contact info on the internet without their knowledge and then pester with e-mails and phone...
+9Uh, wow. 12 SBs and a Certified User tag from one...Uh, wow. 12 SBs and a Certified User tag from one comment. I'm torn on whether to have a Sally Field moment ("You like me, you really like me!") or whether to figure out if that's some sort of WSO record. Thanks guys. It's nice knowing that my rambling posts are appreciated. I've thought...
+9A pretty common thing is you get a draft pitchbook full...A pretty common thing is you get a draft pitchbook full of comments faxed from your MD (yes, faxed so you can barely fucking read it), and you just re-do the whole thing. They want to change something in the model, reformat some pages, add some bullets, whatever. You do it while your associate...
+9My apologies for the length of this… it’s simply a...My apologies for the length of this… it’s simply a fluid thought that may or may not make any damn sense… TLDR: About to turn 27, live in the bedroom I grew up in, unemployed for almost a year, completely lost About a year ago I was let go from my job at a startup tech/energy...
+10i have a lot of family friends in gas station and car...i have a lot of family friends in gas station and car wash business the margins are razor thin for gas station (you make a few cents PER gallon sold). the majority to most of the profit really always comes from the convenience stores inside beacuse of the markup that they charge on drinks,...
+9Shoot me a PM with your email address. I'll mail you a...Shoot me a PM with your email address. I'll mail you a dropbox link.
+9...SirTradesaLot: RustyFork: SirTradesaLot: You just need to accept that life is meaningless and accomplishing a lot of these goals will make zero difference to the universe or your happiness. Also, some of these things are surprising to me that they're your goals. For instance,...
+9I am a frequent poster under another user name that has...I am a frequent poster under another user name that has been on this site for several years. I am going to weigh in on this from an anonym. account as I do not want to reveal too much about who I am. If you want to discount what I say, feel free, but what I am listing is the 100% truth. Most...
+9Check:...Check: http://www.wallstreetoasis.com/forums/former-ms-ma... The guy posted (this is a data point from just KKR, other PE firms might have slightly different preferences) "Appreciate it, god only knows how much filth is spewed in this forum. I've been a reader for quite some time and can't...
+9...http://ebookee.org/Investment-Banking-Industry-Primers_2229111.html scroll down to the bottom of first post. You can download from those 2 links for free, but it'll take 30 minutes for each part. I would like some SBs lol.
+9No problem and thanks for the kind words. I leave the...No problem and thanks for the kind words. I leave the valuation/forward model until the end for a few reasons: 1) I want to know as much about the business and my thesis as possible before I make any projections. Projections are at best an educated guess and the earlier I make them in the...
+9It's tough to provide concrete rankings because there...It's tough to provide concrete rankings because there has been so much movement in the space, but I'll take a crack at it. I'll break them into tiers though Tier 1 Barclays - Has historically been and still is tops in Houston. Lots of questions moving forward for these guys though and a...
+91. Get yoked 2. Get drunk 3. Slam hotties 4. Don't go...1. Get yoked 2. Get drunk 3. Slam hotties 4. Don't go greek 5. "Thirsty Thursdays" If you are concerned with half the shit above in the prior lists, you are not having enough fun in your last years of freedom. There's always B-School though.
+9Only if you intend to pull out a silenced Glock and...Only if you intend to pull out a silenced Glock and execute the interviewers.
+10DickFuld: Goldman Sachs: ass holes JP Morgan: ...DickFuld: Goldman Sachs: ass holes JP Morgan: commercial bank Morgan Stanley: Dean Witter Lehman Brothers: phenomenal, innovative Bear Stearns: poor, hungry Merrill Lynch: stock brokers Credit Suisse: former DLJ Deutsche Bank: German owned That about wraps it up. A couple...
+10Congratulations for overcoming adversity but let's drop...Congratulations for overcoming adversity but let's drop the ego-mania. Claiming your friends have "no ambition to do anything" because they work in what you consider to be vanilla jobs is just ridiculous. There is nothing wrong with the individual that works their way up from 30K/year and...
+11I love these threads so much. Seriously. The answer...I love these threads so much. Seriously. The answer is absolutely that direct to the buyside is becoming more accessible to kids at the top targets. Just as resources like WSO, M&I, etc. have made non-target kids more competitive for banking spots these same resources are making Harvard and...
+9High capex due to plastic surgery for your wives. I'd...High capex due to plastic surgery for your wives. I'd class that under maintenance capex, save for boob-jobs, they're expansionary.
+9They both often invest in semi-distressed companies, the...They both often invest in semi-distressed companies, the only difference is that in Apollo's case, its intentional.
+9That "reporter" did a really shitty job. 1. Its not...That "reporter" did a really shitty job. 1. Its not DJ Tiesta, its Tiesto. Discredit #1. 2. Mixing IBers and Hedge Funds is completely different. A big hedge fund isn't going to have the same expense policy as an IB. And at this day in age, no one at a BB is going to spend $100k...
+9Finally, another metric to compare Banks/ Groups! I hear...Finally, another metric to compare Banks/ Groups! I hear that Goldman TMT places best inside the secretaries but if you're ultimately trynna fuck your boss's wife MS M&A is still the way to go.
+9@"SSits" don't underestimate the LP pressure. I've...@"SSits" don't underestimate the LP pressure. I've always been in the MM and at megafunds you may have completely different teams dealing with LP's, but in the MM at higher levels the LP pressure is always there even if you're not the person who's in regular contact with them because if you're...
+9I've always wondered what George W's was. After going to...I've always wondered what George W's was. After going to Yale then HBS and his dad buying him a baseball team, all of the sudden he quits drinking at 40? I think he screwed a tranny at his birthday party, woke up and thought fuck, I gotta give this up. I call it a "fucking the tranny moment"...
+9I'd just ignore anyone who's ever helped you in the...I'd just ignore anyone who's ever helped you in the past. You're right, your parents are losers because they're not finance ballers. Fuck them. Absolutely kidding. I'd largely ignore extended family back in the home country. There probably are too many of them and they'll all start spawning...
+9You fucking bake your breakfast everyday? Hats off to...You fucking bake your breakfast everyday? Hats off to ya Marry Poppins.
+9 strip clubs/strippers/prostitutes should not might... strip clubs/strippers/prostitutes should not might as well just throw it at chuck-e-cheese
+9I think that you would be hard pressed to come up with a...I think that you would be hard pressed to come up with a simplistic example that perfectly explains beta to a 7 year old. If it was possible, then that's probably how beta would be defined in the first place. As long as you convey the sense that you know what you're talking about you should be...
+9Where in the country is the best balance between high...Where in the country is the best balance between high salary and low cost of living in finance? I'm saying potential to make $300k-$500k+, work hard but not insanity. Weekends free, good 50-60 hours a week max monday - friday. Oh is that all you want?
+9I don't trade energies, but if you're talking about...I don't trade energies, but if you're talking about trading physicals, ask yourself these questions: -Can you live in a multi-task environment, where you bounce from one issue to the next, sometimes bouncing back and forth within the span of a few minutes, and not go crazy? -Can you...
+9Probably gonna get MS thrown but are you guys serious?...Probably gonna get MS thrown but are you guys serious? Guy is a belligerent drunk sleepin on the sidewalk doing drugs and fucking old women. What exactly is attractive about that? Because he's not a belligerent drunk sitting in a cubicle popping Adderall and not fucking anyone?
+9I really really really want to just say "suck it up,...I really really really want to just say "suck it up, you've got a lot going for you, college is awesome, blahblahblah" and all of that's true, but I'll come at this from a different angle, try to give some tangible things you can do to help. it's a given that college is hard, and it's a...
+9I truly believe that many of our country's current...I truly believe that many of our country's current social issues can be traced back to the epidemic of men becoming too feminine. Can we clarify whether we're talking about all American men, or just white American men? Based on what I've seen in my first 9 months in this country, I suspect...
+9I tell people I'm a presentation formatting professional.I tell people I'm a presentation formatting professional.
+9I've decided to not kill myself for another year.I've decided to not kill myself for another year.
+9What's the difference? In both jobs, she'll be getting...What's the difference? In both jobs, she'll be getting fucked all day for money and most people will hate her for her job. ................ The only difference between porn and Wall Street is that the guys in porn have bigger dicks. ................ I guess now she can sleep her way...
+9I agree with almost everything the author is saying, but...I agree with almost everything the author is saying, but it goes back to the whole generational disconnect--Baby Boomers and Gen-Xers had access to lower inflation-adjusted real estate, college and health care costs, and their peak economic times were during 25 years of unprecedented economic...
+10Great post, the preponderance of which rings true from...Great post, the preponderance of which rings true from my experience. Having been through this process on both sides of the table now, I have a few reactions: 1. I heartily disagree with the idea that having a closed deal at all differentiates you as a candidate - especially the suggestion...
+9I've been meaning to comment on this, as a 30-something...I've been meaning to comment on this, as a 30-something who has spent their career in banking, and with no immediate plans to leave. 1. I have said it before and I will say it again. Your career in investment banking only really begins when you make MD. It may be hard for someone just...
+9Personally I like Hillary because she's the most...Personally I like Hillary because she's the most pragmatic person so far and sits in the center. I don't want an ideologue who's going to push stupid shit simply because they come from the more extreme of their parties (Warren or Rubio) or from libertarianism (Paul). The last good and effective...
+11So you work harder than everyone, but everyone else...So you work harder than everyone, but everyone else overstates how much they work, and nobody really gets the 250k+ buyside offers, but you get emails about them often.. but dont worry guys, even HE makes mistakes.
+9I was the interviewer and not interviewing, but my first...I was the interviewer and not interviewing, but my first job out of college was in REPE and our group was pretty small so they had analysts that had been there for a couple of years interview new hires, and probably for only 15-20 mins. So just remember: interviewing to be an analyst at a real...
+9I went on a few interviews in college for jobs I didn't...I went on a few interviews in college for jobs I didn't want at all to practice interviewing and one guy was just a douche bag like some of the above mentioned stories so I decided to screw with him. I think it was the third or fourth person interviewing me in the day (and I thought I was only...
+10Brutal. Great read. For those youngsters out...Brutal. Great read. For those youngsters out there: You need to set boundaries and live your own life. You do not live to fulfill the dreams of your parents. Live your own life on your terms. Ultimately, your parents will respect you more for that than doing exactly what they...
+9It's widely regarded as the most prestigious financial...It's widely regarded as the most prestigious financial services forum on the whole internet.
+92 Krebs Cycle references. Did someone actually bring...2 Krebs Cycle references. Did someone actually bring that up while networking? some little fucknugget was talking about cancer drugs and why the krebs cycle was important and i was like wtf you really think any of that matters i don't even remember what mitosis is now i know what bishes...
+9Wouldn't you want someone who has passion and some...Wouldn't you want someone who has passion and some experience in these areas? Claims of "passion" are often contrived, misplaced and spittle-flecked.
+9Profanity is the crutch of the inarticulate. like how...Profanity is the crutch of the inarticulate. like how eloquence is the crutch of the unskilled? why don't you go and fucking realign shit on powerpoint, MIKE. bet you're the kind of person who texts in complete sentences with proper punctuation and has read receipts turned on. fucking asshole
+9Since time immemorial, young monied men have enjoyed the...Since time immemorial, young monied men have enjoyed the bawdy pleasures of the city. Your respectable 1920s Morgan's and Schiffs and Lehmans and Dillons were almost certainly living it up in an 1890s Bowery cabaret when they were younger. As far as bankers go today, it's not that different....
+10Short answer: GPA is a really meaningful part of the...Short answer: GPA is a really meaningful part of the first screen your resume undergoes, and it also has lasting impacts on your next three major applications (first buy-side job, MBA, and post-MBA buy-side job). Long answer: It sucks, but the GPA is an easy way for people to winnow the...
+9It doesn't happen often for a variety of reasons. You...It doesn't happen often for a variety of reasons. You have to be supremely confident and a big enough rainmaker to know that your clients (stress the plural of client) will come with you and you'll be able to attract new clients. That means not only an incredible relationship with those clients,...
+9Everyone has to start somewhere. Directing him to Google...Everyone has to start somewhere. Directing him to Google isn't too kind. 1) Private equity includes a range of strategies. The big ones are buyout (LBOs). growth equity, and venture capital. The difference comes down to (a) the stage of the company the fund invests in (e.g. startup or...
+9This startup stuff is really getting out of hand. Like,...This startup stuff is really getting out of hand. Like, I get that finance isn't a cakewalk, but almost all startups fail. Around 90% of startups fail. That means that if you go start some tech thing there is a 1 out of 10 chance that it will survive. You don't just land in the magic land of San...
+9Your situation is a lot more common than you think. With...Your situation is a lot more common than you think. With that said, common does not mean "don't worry about it because everyone does it". The fact of the matter is, from an initial field of 30 people who get first rounds, very few actually get offers. Right now, you are in the majority of people...
+9Incoming SA as well. From what I understand, at a...Incoming SA as well. From what I understand, at a BB/firm that is typically considered very strong in terms of deal flow, your name brand is strong enough to overcome potential difficulty that comes from being in a specialized group (think JPM or GS FIG, or MS/GS RE). If it's a smaller firm that...
+9This may not be perfect advice for everyone, but has...This may not be perfect advice for everyone, but has worked well for me. I keep a 'mistake log' which is just an excel sheet where I record every time I've made some type of error, whether it is not double checking a number, misspelling words in emails, etc. Make sure to include all the ones you...
0I love kids with no social worth who think they're...I love kids with no social worth who think they're better than everyone else because they managed to win the genetic lottery and be born into some old-money WASPy family that can't stand each other. You're the wad your mother should've swallowed, kid.
0to confirm what others have said, the big guys have...to confirm what others have said, the big guys have already been interviewing and have already been giving out offers The candidates different megafunds target first are overlapping and can/will interview at all the big shops. They will be the top analysts from the top groups on wall street....
+8Of course. I rank banks using a very sophisticated...Of course. I rank banks using a very sophisticated algorithm based on the following: Y = 0.25α + .385μ + 24.5ε + .084θ + ο*α/5.67043 + π^2 + γ + .000560β * λ + .0045ω Where: α is current US M&A league table position for transactions above $545m, below $3.45bn, announced not...
0i really hope the 3 guys are not on here.. they were all...i really hope the 3 guys are not on here.. they were all fired
+8What jobs in the finance sector would best position you...What jobs in the finance sector would best position you to get the experience needed to start building your own real estate portfolio? (specific firms would also be useful, if any) What would you personally consider to be 1- the best/most respected RE/RE Finance firms and 2 - the best...
+8I disagree. You have to understand what they're...I disagree. You have to understand what they're trying to determine with this question. And my view is they're trying to determine if you understand private equity investing, how/why it works and how to analyze an investment. While knowing the industry is important in making an investment...
0Pretty much sums it up:Pretty much sums it up:
+8How does Stern compare with Colombia? Stern is in New...How does Stern compare with Colombia? Stern is in New York City and a pretty decent university for finance placement, whereas Colombia is a former hub of the cocaine industry. Ironically, Columbia is a former hub of the cocaine industry too.
+11Interesting to read, surprised given my candidacy I made...Interesting to read, surprised given my candidacy I made it into the number of superdays I did if all this holds true.It's cuz your black. You're a minority, ever heard of affirmative action?Affirmative action my fucking ass. Nice try though.Don't act oblivious. You're the black kid in Stern who...
+8I started in corporate FP&A (F100, financial sector)...I started in corporate FP&A (F100, financial sector) about a year ago. In my experience, these jobs have growth prospects, but it takes a very long time to progress. For example, I think typical path might be: Format - (title - min salary, max salary, bonus, average time for top 10% of...
+9Short version: Deutsche Bank: "Ve are lookeenk to...Short version: Deutsche Bank: "Ve are lookeenk to replaze Herr Ackerman as Zee-E-Oh of our globelle bank. Zomeone who can better manage our riskzz after zee cazino culture uf zee lazt few yearz." Anshu Jain: "As head of IBD, I generate 80% of DB's revenues in a sustainable business that I...
+9The degree to which many of you lack basic social...The degree to which many of you lack basic social consciousness is astounding. Speculating on the "class" of the person you're going to marry before you've even had a single adult relationship is also fucking retarded. I've dated up and down the spectrum of "classes" (random: for a country...
+8what are the exit opps from BB? Do you now work at Saks?what are the exit opps from BB? Do you now work at Saks?
+8Think about it intuitively, what is EV? EV is the price...Think about it intuitively, what is EV? EV is the price you have to pay to pay off every stakeholder (i.e. equity and debt holders). Let's say you have company A with 1 $ in equity, 10$ in outstanding loans and 5$ in cash. So, you buy the company for 11$ (1+11) and have 5$ of cash left which...
+8First, thanks for taking the time to lay out your...First, thanks for taking the time to lay out your opinion. You are definitely owed a reply of similar length. From my other posts it is easy to say that I disagree with most of the below. I am an Objectivist and live my life accordingly. I am still young - much younger than you - but have...
+8I'm a generalist and look at most companies in most...I'm a generalist and look at most companies in most industries excluding biotech and financials. That said, I know about six industries really well. The reason that is possible is because there are only a handful of things that really matter for any particular industry (and by extension,...
+8I broke into the buyside straight out of UG (with a...I broke into the buyside straight out of UG (with a lot of luck) on the PM/quant side as an analyst, at a good BB AM: The above poster is slightly wrong, as BB FOF is not the only thing BB AM hires for. There is an occasional spot for a buyside ER analyst, credit research, etc. but...
+8Throughout my childhood, I was painfully shy. I lacked...Throughout my childhood, I was painfully shy. I lacked confidence and my upbringing in a strict / suffocating family environment only severely aggravated this issue. I was also poor and didn't have many friends growing up (partially due to my personality and partially due to reasons outside my...
+8Just seeing this thread is actually somewhat humorous. ...Just seeing this thread is actually somewhat humorous. I know people at FTP and have for some time and from what I hear / know they are not only "legit" they are thriving. I just surfed their site and it speaks for itself, doesn't it? All I see is in the last couple of deals, they raised $235...
+8From GS: Interviewer: If I told you that the only way...From GS: Interviewer: If I told you that the only way you were going to get this job is if you let me sleep with your girlfriend, would you accept? My response would be: "Is that a risk you're willing to take? I mean, how do you know I'm not into fat chicks?"
+8Here's how I do it: Interviewer: "Tell me a little...Here's how I do it: Interviewer: "Tell me a little about yourself." Me: "In college, I majored in Economics, the 'science' of making choices in a constrained environment to help me figure out what motivates people. I minored in Philosophy to hone my art of bullshitting. Combining these...
+8Serious answer incoming. You'll probably have a...Serious answer incoming. You'll probably have a morning of presentations, meetings and introductions showing you some of the main people in the office, some of the support staff (read - the people who will do your PowerPoints while you dash home to sleep, treat them well!) and HR...
+8This--I can't say is very well founded. Sure I've read...This--I can't say is very well founded. Sure I've read some papers on arguing that a higher income tax on people who pay the taxes (let's not kid ourselves) would reap the benefits of all this trickle down government economics. First off, whether that's true or not, I think Barry doesn't give a...
+8When I first started full-time, I would enthusiastically...When I first started full-time, I would enthusiastically respond to every recruiting email I got from undergrads, knowing that I was in their shoes not long ago and wished someone paid some attention to me. As time goes by, my response rate has dropped significantly while the barrage of...
+9No problem folks. One thing I forgot to mention -...No problem folks. One thing I forgot to mention - live on your base, bank your bonus, at least for the first 3-5 yrs. After that you can put your saved bonuses into whatever - house, etc. But always try to live one or two rungs below your means. If you're thinking of grad school you'll...
+8My hobbies include making powerpoint presentations,...My hobbies include making powerpoint presentations, excel models, buyers logs, and correcting my associates mistakes, so I think I have that front covered.
+8Dream girl and it's not even close. I can't believe...Dream girl and it's not even close. I can't believe the kids on here saying dream job. If you think it's your dream job, then you are absolutely delusional. It is dream girl 100% of the time and you can't even entertain the scenario of it being dream job if you have any semblance of...
+8Allow me to translate: 1. Speak and act with...Allow me to translate: 1. Speak and act with confidence SMILE WHILE YOU BROWN NOSE 2. Have your elevator speech prepared – be able to talk about your experience and your contributions in 2 minutes or less DON'T BORE PEOPLE 3. Build a network – meet with peers and professionals...
+9I was on my phone the other day, and I heard an old guy...I was on my phone the other day, and I heard an old guy make a comment. "Kids these days waste all day on their phones playing pointless games." I turned around and said. "Is that so? Well I will let you know I just closed a 40 million dollar sale while you were making that, because I am old...
+8My day can vary wildly, but this is a pretty typical,...My day can vary wildly, but this is a pretty typical, uneventful day: 6am -- Alarm goes off. 6:30am -- Actually get up and shower/get dressed. 7am -- Leave for the office. I drive every day. 7:30am -- Arrive at the office. Check email/schedule for the day. Read a few blogs/check...
+8I would (and do) prefer to be a generalist. If I was...I would (and do) prefer to be a generalist. If I was forced to pick an industry, it would probably be consumer or maybe tech. There is obviously a lot of good that comes with specializing in an industry, namely the contacts you make within the industry, but I want to be able to pick whatever...
+8Got sort of inspired by this and decided to write down...Got sort of inspired by this and decided to write down my experience in minor pro hockey. Did this for about 1.5 years after college. 8:30am: Wake up, have a quick breakfast (usually consisting toast and orange juice) and get out the door. Pre-game skate usually didn’t start until 10am,...
+8There have been a few continuing questions about the...There have been a few continuing questions about the books I listed so I wanted to put together a list of the books in a logical – to me at least -- reading order. I’d also like to invite everyone to list books that they’ve read and would recommend that I did not list in the original post...
+8It's not that most people *want* to do consulting or...It's not that most people *want* to do consulting or banking -- they tend to be the default choice for practical reasons. In other words, they're not necessarily dream jobs, but jobs that many people take simply because there's always tons of jobs available relative to other industries and for...
+8you're just having typical first year feelings.. about...you're just having typical first year feelings.. about 2-3 months in is when EVERYBODY start to get tired of their jobs and realize that college was more fun. obviously, it's a little worse when you are working those IBD hours.. but trust me, everyone even those in 9-5 jobs will find something...
+9In the three years since I left, I’ve married,...In the three years since I left, I’ve married, spoken in jails and juvenile detention centers about getting sober, taught a writing class to girls in the foster system, and started a nonprofit called Groceryships to help poor families struggling with obesity and food addiction. I am much...
+8@Tufts - not at all. Look at a basketball court in...@Tufts - not at all. Look at a basketball court in Short Hills and one in the West Village. The suburb court has a few people show up for pickup games. The courts in the village are BUSY, around the clock, and every age group takes their turn...and most are inner city blacks with a few...
+8Your 3 topics on this forum have been "submit your best...Your 3 topics on this forum have been "submit your best i-banking horror stories", "are Wall Street's best days behind us", and "has Silicon Valley replaced Wall Street as the prestigious post-college job". Most of your articles and tweets are critiquing Wall Street or big business in one way or...
+8I liked this post when it was originally posted, and I...I liked this post when it was originally posted, and I still like it, but I think it fails to recognize a crucial aspect to any work, which is that we have a choice to enjoy what we do or not. But before going into that... I believe that the work of an auditor, a banker, a consultant really...
+8Comparing 200-250k vs. 200-400k is of course a no...Comparing 200-250k vs. 200-400k is of course a no brainer. But comparing 250k vs. 150-400k is not as straightforward, and would require taking beta into consideration. Of course, many in WSO would choose 150-400k just for the excitement and emotion alone. But leaving excitement and emotion...
+8Only on WSO do you have to figure out if you can retire...Only on WSO do you have to figure out if you can retire with $20MM.
+8Interesting thread, thanks for starting it. I think...Interesting thread, thanks for starting it. I think the people who have had the biggest influence in my life so far (when I really think about it) have been my older brother, my father, and one of my brother's friends. My older brother kind of just set a standard- he had perfect grades, a...
+8Only be worried if she laughs when you drop your pants.Only be worried if she laughs when you drop your pants.
+8deletedelete
+8I think they're fully aware of what the hours are but in...I think they're fully aware of what the hours are but in the youthful enthusiasm of their mind's eye they glamorize and romanticize the idea of working 110 hours... taking a black car home at 3am, waking up 4 hours later to a bunch of stressful emails, rushing back into the office, cranking...
+9Wrote this for an assignment while still in...Wrote this for an assignment while still in college: While I was abroad last semester, I had the pleasure of spending a week in Paris with several friends. One day we decided to make a trip up to Normandy to see the American cemetery at Omaha Beach, where the majority of Allied forces landed...
+8The problem is that if Uber drops fares to 50% of a...The problem is that if Uber drops fares to 50% of a taxi, they have to provide twice as much service as all taxi providers have been offering to get the same revenue. That's assuming they completely run the cabbies out of business and become the only game in town. So just how elastic is the...
+8What are you, an idiot? How is this even a question,...What are you, an idiot? How is this even a question, its gotta be a troll. Follow your parents advice if you want to be doing what they're doing. They're probably small business owners (i.e., are professionally illiterate) or dragon-professionals (e.g., college professors or engineers,...
+8I was 5 minutes late.I was 5 minutes late.
+8Son, I am going to get you laid in spite of yourself. I...Son, I am going to get you laid in spite of yourself. I have been waiting for a way to give back and pay it forward so to speak and I do believe this is that opportunity. FIRST your appearance. If you are out shape, hit the gym. Next get a haircut, clean and tight (preferably one that you...
+8didn't read anyone else's responses, but here are my...didn't read anyone else's responses, but here are my thoughts on startups, and this will be harsh, fair warning. 99% fail, 99% of the ones that succeed don't knock it out of the park such that you become independently wealthy like a Brin, Jobs, Bezos, Musk, Zuck, etc. otherwise the world would...
+8I might be able to provide a little insight. I was in a...I might be able to provide a little insight. I was in a special operations unit in the army, and have been overseas a handful of times. I worked in a pretty dangerous job, even for the army, and unfortunately lost several very dear friends. My life became a bit of a shit show for a while, and I...
+9deletedelete
+8As an analyst in one of your highly sought after banks...As an analyst in one of your highly sought after banks (GS/JPM/MS), I can probably venture a guess and say that you failed because youre delusional. Because although you probably didn't tell them you were only applying to them, your cockyness and elitist view came off. To downplay top banks (ie...
+8OP, are there any good last minute Xmas rollback...OP, are there any good last minute Xmas rollback specials in your department today?
+8just thought I'd drop this in here.... :-)just thought I'd drop this in here.... :-)
+9 If you look at what previous generations had to go... If you look at what previous generations had to go through to just put food on their table, you might realize what hard work is. Haha, are you talking about the baby boomers? 40 year bull market If you went to any undergrad you basically were guaranteed a good job If you bought a house...
+8People on WSO are way too rigid when they look at...People on WSO are way too rigid when they look at careers, especially when looking at experiened roles. No, there is no period after a year of being an associate where dozens of headhunters contact you about buy-side openings. But there are constantly new jobs opening up whether it's...
+8NYC can blow, sure, but you make it sound like it's some...NYC can blow, sure, but you make it sound like it's some dilapidated town from a dystopian horror novel. As a city, it's perfectly fine for both dating and professional advancement, especially for young, commitment-phobic prestige whores. Banking as an entire industry is experiencing cuts, so...
+8What do you guys mean ETFs? You are so fucked.What do you guys mean ETFs? You are so fucked.
+8Choice of spouse will impact your retirement much more...Choice of spouse will impact your retirement much more than choice of 401(k), from both a fiscal and quality of life perspective. I'm not saying your should ignore your 401(k). Just that you should plan your dating with more diligence and care than your 401(k).
+8Holy shit. As someone older than you (and probably...Holy shit. As someone older than you (and probably the only one on this website), you need to start to learn to let go a little bit. This is not your life to live. It is hers. She is not likely to become an investment banker, not because she is not capable, but because there are so many...
+9And this is why you don't get married. And this is why you don't get married.
+9General tip - make sure you don't have all your life...General tip - make sure you don't have all your life benchmarks in one basket. For example, if 90% of your life aspirations/benchmarks of self-worth are (a) getting a job in IB and (b) living bottles and models, then you're putting yourself in a very risky position if you fail to meet those...
+8Getting into banking is systematic. Before the Internet...Getting into banking is systematic. Before the Internet there was a big knowledge void and you got in by knowing people. Now you can have your resume dialed in, pound out emails from linkedin and interview and model prep from a number of Sources. If you're committed and prepare you can break...
+8CFA is the College Finance Accelerated exam, it's used...CFA is the College Finance Accelerated exam, it's used by some (not all) noteworthy high schools to gauge applicant quality and demonstrated interest in finance. Level I is generally taken in fourth/fifth grade (I believe you need to be in your final semester of fourth grade to register), Level...
+8First off OP, sorry to hear that. Unfortunately...First off OP, sorry to hear that. Unfortunately rejection from a job is one of the hardest to swallow because it feels too personal, like "I'm not good enough, someone was better (even though I'm obviously awesome), or I suck." Almost all the time it's not those, but it still sucks. I prescribe...
+8No offense, but this guy seems like a real pussy who...No offense, but this guy seems like a real pussy who likes to lay blame elsewhere. His job did not ruin his life, he did. Plenty of people work more than that and their kids don't hate them.
+8One time I met this awesome girl. Smart, pretty,...One time I met this awesome girl. Smart, pretty, absurdly talented, and quite funny. By some odd mess-up of fate, I got a date with her. I planned a lovely picnic at a lake. So romantic, I know. Well, i spent a whole day planning a beautiful meal for the picnic, complete with plastic champagne...
+8Transaction Experience: Assisted in the sale of Half...Transaction Experience: Assisted in the sale of Half Baked Incorporated. Helped the client achieve a dank selling price that was 420% above book value.
+8JPM (top bucket): 1st yr 80k (155k all in) 2nd yr 90k...JPM (top bucket): 1st yr 80k (155k all in) 2nd yr 90k (175k all in) Qatalyst (not top bucket): 1st yr 80k (175k all in) 2nd yr 100k (205k all in) Rothschild (top bucket): not a spectacular year for Roths, friends over there are talking about jumping since pretty much all T1 BB's are...
+8
+4Define success. I went from living in a trailer to where...Define success. I went from living in a trailer to where I'm at now, so I'm a big fan of having talent and then polishing your craft via hard fucking work.
+9My boss told me to spend it all on a vacation with...My boss told me to spend it all on a vacation with friends in Saint-Tropez, which is what I did. Believe it or not, it is possible to spend an entire bonus in a week there.Your boss wants you to be cash poor so he owns you. Can't believe you fell for it. For someone who loves options, you...
+8Eh, in my experience grades are basically used as a...Eh, in my experience grades are basically used as a proxy when no better one exists. I had a kid apply that had like a 2.5 GPA but raised his younger brother after their dad died. I wasn't about to question his 'work ethic'. Similarly I have had people with 3.9 GPAs be total dogshit entitled...
+8If the article was a call to arms for waspy attractive...If the article was a call to arms for waspy attractive single girls in their early 20s, I couldn't agree more. Go to bars...buy nice clothes...and for gods sake stay fit. As Future Mrs. Doctor/Banker/Attorney/Techie you will be taken care of so live it up and more importantly lock it down....
+8About 3 years ago, a friend and I quit our BB analyst...About 3 years ago, a friend and I quit our BB analyst gigs after our first year. We worked on a few projects, then settled on opening a fast-casual franchised restaurant. We've been in business for about two years now. My advice: Don't do it. It's not the best way for you to make money, and it's...
+8There is a massive amount of misinformation on this...There is a massive amount of misinformation on this thread. Let me take some misnomers one by one. 1. EBs are not a new phenomenon. Lazard has existed as an M&A specialist for the past 50 years, Blackstone had an M&A business for 30 years. In the 1990s, you had firms such as Wasserstein...
+8What is your plan for keeping your health insurance if...What is your plan for keeping your health insurance if you go without a job? What potential impact does this have on your work? Do you work in IBD? Will that need to change for you to fight this disease? If your doc orders you to stop working or cut back on working, you may be able to go...
+8What's your scale of 1-10 like? Is 10 full on bestiality...What's your scale of 1-10 like? Is 10 full on bestiality and 5 is plain old missionary so 6/7 is doggie? Then that's bad. If 6/7 is just a stupid face pic like you want to fuck her, then it's probably just embarrassing. I think IT people will get a bigger laugh that you have hotmail still.
+8Well, it's sensationalist, but true. Women are really...Well, it's sensationalist, but true. Women are really lacking at the higher levels and it's downright depressing for me, a woman working in finance. Nothing like continually struggling against the stream, while making sure you aren't fat or ugly (FO only for the most part), or that people won't...
+8The reason people never leave, even after reaching their...The reason people never leave, even after reaching their "this is what I need to leave" goal, is because once you get to a certain point, the money is just too good. Once you hit the MD point where you would have enough money to retire early, the prospect of earnings another few million for...
+8The problem is that what has been happening at Yale and...The problem is that what has been happening at Yale and Missouri is a natural combination of the anti-intellectual side of the left and the coddled nature of our (millennial) generation, both of which are a result of policies and ways of thinking put forward by the very collegiate employees now...
+8Most hookers are moms, so most of you guys have already...Most hookers are moms, so most of you guys have already rented moms before.
+8Are you a girl? Come chill with me. I have...Are you a girl? Come chill with me. I have netflix You're being micro-aggressive. Why do you only invite girls? Are you a sexist? Boys should be allowed to chill with you too. I don't feel safe on WSO anymore.
+9Whether you're an Analyst or Associate, 9:30-12:30 four...Whether you're an Analyst or Associate, 9:30-12:30 four days a week, 10-10 the fifth, and an additional 10-12 hours spread across the weekend for 82-84 hours seems pretty easy.If it's 830am-930pm Monday-Friday and maybe 8 hours on 3x Saturdays per month as someone posted above, that's even...
+8And I find it comical that you think the majority of...And I find it comical that you think the majority of "techies" are actually generating some scientific benefit to society and have amazing comp/work-life. Like they're all just little Steve Jobs in training. For every one of those you can provide an example of, there are probably at least two...
+8Yes, it should be legal along with drugs. Leaving aside...Yes, it should be legal along with drugs. Leaving aside moral and political arguments, prostitution (and drugs) are done regardless of their legal status and we waste tons of money and resources policing it and incarcerating people for it and have little actual effect on stopping it. You also...
+9Social security is actually more closely aligned with a...Social security is actually more closely aligned with a ponzi scheme, which one could theoretically define as a socialistic-ally structured enterprise. Socialism in of itself is just a system designed to promote stagnation, which to me is the insanity of the whole thing. You have people...
+8Terrible, terrible post on many levels.Terrible, terrible post on many levels.
+8Wait a minute, is this guy saying he's an effing kicker?...Wait a minute, is this guy saying he's an effing kicker? She's definitely getting every STD known to mankind. Edit: I think I found him, everything makes sense now. Edit 2: It all checks out.
+8I'm sorry - I don't mean to sound rude, but what part of...I'm sorry - I don't mean to sound rude, but what part of this post constitutes a "fantastic read" or "solid advice" in your guys' opinions? While the OP "cringes" at the many threads on WSO, I cringe at his list of truisms and the even-more cliche manner in which he writes these ("if you want to...
+8- Active M&A environment centered around cost-managing...- Active M&A environment centered around cost-managing and pricing leverage (merging hospital systems, PBM, biotech/pharma, insurance, e.g. Shire-Baxalta, Pfizer-Allergan, Aetna-Humana, Anthem-Cigna, UNH-Catamaran, the list goes on...) - Cost savings and operating efficiencies from...
+8CS IBD (all cash) ANL Stub – 25K Flat ANL 1/2 –...CS IBD (all cash) ANL Stub – 25K Flat ANL 1/2 – Top: 67.5k, Mid: 50-55k, ANL2/3 – Top: ~85K ASO 0 – 35k Flat ASO1 – Top: 110-115K, Mid: 97k, Bot: 75k - 90k (outlier at 60K) ASO2 – Mid: 125k ASO3 – Top: 190-200k, Mid: 160k Salaries below for the benefit of those who...
+9If you want to help less fortunate people, donate your...If you want to help less fortunate people, donate your money to causes that actually have a measurable impact, volunteer your time, mentor under privileged kids, and kick ass in life so that one day you can donate more money to make a larger impact, found a business that has a public benefit,...
+8Seems like you have a decent shot at a Bulge Bakery....Seems like you have a decent shot at a Bulge Bakery. Your chances would depend entirely on which group you interview for (i.e. pastries, cakes, bread). Maybe think about first aiming at capidough markets.
+7I'm just paging through a recent book of college...I'm just paging through a recent book of college seniors: "I have a real passion for Finance." Uh, really? I didn't think finance was actually passion-worthy. And what's with the Capital Letters? Are we in the seventeenth century? "I believe that the atmosphere at will help nurture my...
+7is almost staggering. at its most basic level, the...is almost staggering. at its most basic level, the difference between capital markets and "investment banking" is this: capital markets is focused on PRODUCT knowledge investment banking is focused on INDUSTRY knowledge in general, it's pretty damn difficult for any banker to know...
+7Do you have to go to a target school to do models and...Do you have to go to a target school to do models and bottles? What is the minimum GPA to do Models & Bottles? How is the culture of front office models different from back office models? What type suit should I wear to models & bottles? How technical are the questions that the models will...
0Do you prefer deals that come from banks or not? If it...Do you prefer deals that come from banks or not? If it comes from a bank, I would assume that the process runs a lot smoother and it takes some of the work off your plate, but if there is no banker advising the target, then there is a good chance that you're not competing with any other buyers,...
0As with most things in life, it all depends on how you...As with most things in life, it all depends on how you value the trade-off between doing something that will really jump-start your career, vs. doing something that you're intrinsically passionate about. Investment banking is an excellent place to start your career when you're not sure what else...
+7@MBAApply - Every joke/parody/sarcasm has some truth to...@MBAApply - Every joke/parody/sarcasm has some truth to it. As self-righteous, oblivious and borderline ignorant that writer makes Bankers look , there is alot of truth to what he says. If Alice in Wonderland (Obama) brings down Wall Street, he's hurting Main Street more than he is hurting any...
0I think a lot of you guys are missing what I consider to...I think a lot of you guys are missing what I consider to be the most important part of the quote - "Rich enough not to waste time." You guys are all fixated on the number, whether it's $400k or $800k or $10 million. The number isn't what matters, it's the lifestyle that matters. It's units of...
+7my friend tricked me into trading a holographic snorlax...my friend tricked me into trading a holographic snorlax for a diglett when i was 8.
0As a former soldier I'll tell you this, the only people...As a former soldier I'll tell you this, the only people vehemently opposed to gays in the military are people not in the service or evangelical groups within the military. And even that 10-15% is mostly just getting behind that message since some civilian preachers like Ted Haggard told them to...
+7What are the recommendations for getting into Power...What are the recommendations for getting into Power trading companies? Analyst program if they have one if not either scheduling/real time/desk analyst/settlements/risk/product control Is it best to become a scheduler or something else like a Real Time Trader? either are good starting...
+7There is a large amount of pessimism towards PE here,...There is a large amount of pessimism towards PE here, and it's very understandable as all have made great points. However, I would like to suggest that perhaps the feelings being expressed towards PE by those in the industry are not a reflection on the PE industry, itself, but, instead, a...
0Definitely an interesting question. And I can...Definitely an interesting question. And I can definitely agree Midas... I've actually been in bars in a suit after work and been asked "So where do you work?" before being asked my name. Not even "What do you do?"... the superficiality extends to brand name, and you better believe the random...
+7I plan to fuck a 19 year old blonde tomorrow after...I plan to fuck a 19 year old blonde tomorrow after work...say 6pm? I'm doing karaoke with friends on Wednesday, have another social gathering on Thursday, and have a date with a different girl on Friday (even hotter than tomorrow's). This is a typical week (btw I still work 60+ hrs a week,...
+7I grew up in New York City (actually within the 5...I grew up in New York City (actually within the 5 boroughs, unlike every person in the world who says they are from NYC but is really from strong island or westchester/new jersey. Not to pick on Wonderwoman above, but I'd be willing to bet today's paycheck that by "native new yorker" he/she...
+7Update: I ended up falling for the brand name trap...Update: I ended up falling for the brand name trap and taking GS, however luck was in my favor and it turned out to be the right choice. I was very wrong in my initial assessment of the IA Summer Analyst program. Every SA is placed on a team. For those who don't know the GS culture,...
+7I have a business relationship with Steve (founder of...I have a business relationship with Steve (founder of FTP) and his team since they've pitched me a couple times. From what I can tell, FTP is most definitely legit and they get a lot of deal flow. The senior guys I've met are all very impressive and can walk the walk. They have a lot of former...
+7I've been getting a good number of requests for the TTS...I've been getting a good number of requests for the TTS macro. If anybody else wants it, feel free to PM me. I'll just need an email address to send it to.
+7long time reader, first time poster. My background - 2...long time reader, first time poster. My background - 2 years in M&A group at boutique, now 5 years buyside equity research at two different smaller hedge funds. I will try to avoid saying "it depends" and share my experience. 1) Day in the life The time you arrive in the office is dictated...
+7Knowing about chartering/logistics and/or trade finance...Knowing about chartering/logistics and/or trade finance is a definite bonus for moving onto the trading desk at a pysical firm. If you can't get a summer internship with Trafigure/BP/Glencore (only people I know who offer those), then network your ASS off and try and get something at a place...
+7The funny thing is that I just had a counseling session...The funny thing is that I just had a counseling session with one of the WSO mentors last night and I actually brought up the same question. I am a South East Asian and so is the mentor. I have been working close to five years in Finance, from BO to MO and to FO. It is all the same. Based on my...
+9 I wanted money. I wanted respect. I wanted to be a... I wanted money. I wanted respect. I wanted to be a somebody in the eyes of myself and others. You still do. This is why you're 'sharing' your story here. You want to read all of the 'good for you' replies and feel special. Now you've switched your focus from money to fame/attention....
+7Couldn't imagine paying for sex. Every guy pays for...Couldn't imagine paying for sex. Every guy pays for sex. Some just don't know it.
+7Printing out things and looking them over is good. ...Printing out things and looking them over is good. However, if the buck stops with you (as is frequently the case once you're out of the analyst banking environment) you need to develop a few more error proofing tools. I've been thinking about how to do this better myself a lot lately. It's...
+7Code phrase: I'm quitting my job once I find my man but...Code phrase: I'm quitting my job once I find my man but I won't settle for a lower standard of living.
+7OP you are not going to get in bed with this girl. What...OP you are not going to get in bed with this girl. What is happening now is that you are trying to qualify yourself to her standards, which is a big no no in the dating world. By asking question like this, you are subconsciously admitting that you need her approval. Girls love confident guys and...
+7Q: "What's your outlook for US cucumber prices over the...Q: "What's your outlook for US cucumber prices over the course of 2012?" A: .................. A: Well, it seems I am in a pickle.
+7Don't worry OP it's because you're a lesbian, explains...Don't worry OP it's because you're a lesbian, explains why you in banking.
+8First of all: "fitnessmodel" = douchiest tag...First of all: "fitnessmodel" = douchiest tag ever. Secondly: don't you have some lame blog you can post tripe like this on? Finally, to address the "substance" of your post: not tipping at the end of the meal makes you what economists would call a freerider. The waiter probably gets...
+7no hate, but family income in the region of 150k makes...no hate, but family income in the region of 150k makes you very well off even if it is precisely the range that gets fucked by financial aid. that's more than anyone i knew growing up, so id say you're a bit of a whiny fag. Oh is that what you'd say? Not that I assume you know anything...
+7wat a dum questin, nooooooooooooooooo no no NO. u r a...wat a dum questin, nooooooooooooooooo no no NO. u r a invetment banker, ur job is to be most prestigus as possible at all times, and new york ciety is way more prestigus than california. more prestigus = more world power = ilumenati = models bottels do U think bankers in california get...
+7I swear if I hadn't met you Brady I would also think you...I swear if I hadn't met you Brady I would also think you were trolling here...you really need to get the B School obsession out of your head. An MBA from a top school will not save your life or automatically make you don juan. I swear, you are like a broken record with this b school shit. If...
+7For integrated teams: Hours not only vary per group but...For integrated teams: Hours not only vary per group but per the workload of the bankers you support. For instance, in my group, the younger analysts support the more senior bankers, so they have the heaviest workload. When performance numbers come out on the beginning of each quarter, I can work...
+7Hey Valuestrats920, I’ve worked at/within PJM for 6...Hey Valuestrats920, I’ve worked at/within PJM for 6 years. There are three main products that are traded in the PJM Market (excluding other exchanges such as ICE/NYMEX). They are virtual bids (increment offers (INC)/decrement bids (DEC)), Financial Transmission Rights, and...
+7MBAs have really turned into cash cows for...MBAs have really turned into cash cows for schools. If you can graduate HBS as a Baker Scholar, an MBA is probably worth it. But even HBS has only about a 90-95% placement rate. And the new industries (tech, medicine) really aren't big on MBAs. So I would only go for an MBA if an employer...
+7I have a coffee pot on a timer on the night stand and...I have a coffee pot on a timer on the night stand and when I smell fresh coffee in the morning I take the pot off and pour it on my face. You will never hop out of bed quicker than 3rd degree burns.
+7WSO : the only place where the prestige level of the ivy...WSO : the only place where the prestige level of the ivy league school you went to will ever fucking matter and have threads devoted to it
+7Flesh, you are spot on. It's refreshing to hear this...Flesh, you are spot on. It's refreshing to hear this kind of attitude on WSO. I haven't posted on here in a while, because I've become bored with hearing from college kids that are still, albeit unknowingly, wearing their blinders. All they see is "prestige" (I wish this word would die a long...
+7If there's anything I hate more, it's parents who...If there's anything I hate more, it's parents who shelter their kids and don't let them experience the world for themselves. I think all children should be encouraged to make their own mistakes, then let them deal with the repercussions and learn from them before high school. I was an...
+7I'm in one of those groups mentioned, and I can state...I'm in one of those groups mentioned, and I can state with certainty that most people don't enter with a real mastery of Excel or tremendous knowledge in valuation or modeling. What I noticed immediately about my peers' profiles it that almost everyone can be categorized as one of three...
+7Of course, how could I forget 9. Career...Of course, how could I forget 9. Career progression The titles are different in each country but basically you start as an associate for the first 2-5 years of your career. This means you are helping the senior analyst by building and filling in models, gathering info from datastream,...
+7You're 21, I'm almost 30, listen up. Take the job, crush...You're 21, I'm almost 30, listen up. Take the job, crush it for two years, jump to a hedge fund or PE, maybe do B-school or another masters or law school and have a great time. Realize that your first analyst job is just the starting point and there's absolutely nothing stopping you from going...
+7For this particular job I sent my resume and cover...For this particular job I sent my resume and cover letter to their [email protected] email address when I noticed they posted an analyst position and was lucky enough to hear back from them. In general though I networked and cold-called my ass off for quite a while. I think I might...
+7Solid write up and great introductory material. ...Solid write up and great introductory material. +1 As a follow-up, I always felt that the standard WSO taxonomy of banks left a lot to be desired. For instance, among those categories, how would one designate Wells Fargo? Would it be MM despite its business model being so wildly different...
+7After reading the thread, I feel like I should chime...After reading the thread, I feel like I should chime in. 1) Mutual Funds - They are great vehicles for instant diversification of your investment. As the name itself says, it's a fund of mutual investors. Not everyone has access to large amounts of capital to make the MPT model work in their...
+7No, luckily I haven't had any work related dreams so...No, luckily I haven't had any work related dreams so far. But, I guess I should note that not only do I bring my work home literally (as in I actually do work at home after I leave the office), but I also bring it home figuratively. There is a great deal of stress that comes with putting not...
+7I guess my answer would be both. Like I said in my...I guess my answer would be both. Like I said in my comment above yours, I I'm often putting large sums of money behind an idea and do not take that responsibility lightly. Aside from the absolute dollar amount of the investment I'm also putting my professional reputation and livelihood on the...
+7I've always been told that the benefits of...I've always been told that the benefits of diversification go to about zero once you have about thirty stocks in your portfolio. That being said, I currently have five in my PA. My problem with the belief that a portfolio is optimized at an arbitrary number is that inevitably you'll end up...
+7An Interview from the Founder of ValueAct Jeff Ubben...An Interview from the Founder of ValueAct Jeff Ubben from 2010. They've been absolutely killing it these last few years. These guys are just about as good as it gets on the Street. Listen and learn:
+7Part Two of the Jeff Ubben Interview:Part Two of the Jeff Ubben Interview:
+7Mike Price at the London Value Investors Conference:Mike Price at the London Value Investors Conference:
+7Well, my official thought is that it's best for you to...Well, my official thought is that it's best for you to become informed to all points of view concerning EMH and form your own conclusion. But, since you asked, I'll give you my $ .02. I do not believe in EMH and am yet to meet someone in active management that does, although I'm sure...
+11I believe in taking care of myself and a balanced diet...I believe in taking care of myself and a balanced diet and rigorous exercise routine. In the morning if my face is a little puffy I'll put on an ice pack while doing stomach crunches. I can do 1000 now. After I remove the ice pack I use a deep pore cleanser lotion. In the shower I use a water...
+7duffmt6: Marcus_Halberstram: As hilarious as I...duffmt6: Marcus_Halberstram: As hilarious as I find these e-mails; I think there are some serious issues with these things getting passed around. Everyone done something socially unaware and sophomoric in their day. Yes, its stupid and devoid of tact, but the eventual consequences of...
+7Pink shirt: "The fuck...this isn't decaf"Pink shirt: "The fuck...this isn't decaf"
+9There really hasn't been multi-billion dollar tech...There really hasn't been multi-billion dollar tech M&As lately, so the data points from IBM/MSFT/GOOG have to stick. Not sure why you'd say Qatalyst owns it. As far as I know, they seem to get stuck on a lot of smaller sell-sides, but honestly, who isn't. Whatever the case may be, I hands...
+7from low-ish GPA to comments about wanting to hang out...from low-ish GPA to comments about wanting to hang out and leave early etc - the op doesn't sound like much of an overachiever (by any stretch). While i laud work life balance and doing what you love, i don't think prospectives should settle for mediocrity and apathy. Find what you love and...
+7I'm reminded of one of my favorite stories about Peter...I'm reminded of one of my favorite stories about Peter Thiel (entrepreneur, VC, and hedge fund manager), when he was just graduating Stanford Law: By graduation, students at Stanford Law and other elite law schools have been racking up credentials and awards for well over a dozen years. The...
+7The cruel irony here is that despite the fact that...The cruel irony here is that despite the fact that DCDepository lives and votes in the U.S, no one in this discussion respects his political opinions.
+7NYC just ranked #1 by Business Insider's "25 Best Places...NYC just ranked #1 by Business Insider's "25 Best Places to Roll Dolo" so I don't know wtf you're talking about.
+7If I were in your situation I would take a long vacation...If I were in your situation I would take a long vacation and just unplug from everything. I'm talking like a month or longer just sitting on a beach or taking a train across Europe, doesn't really matter. I've been in similar situations before when it feels like no matter what you / how hard...
+7I see someone is enjoying busy season.I see someone is enjoying busy season.
+7Money really is everything to you fucking people. Money really is everything to you fucking people.
+8I wish @DickFuld would sign off on his posts like thatI...I wish @DickFuld would sign off on his posts like thatI would, but I'm not a pretentious douche. So I won't.
+7This has little to do with this post really, but I feel...This has little to do with this post really, but I feel like trying to put this into words somewhere... The reason I hate most people in finance is very simple: they're usually very smart, but only in the context of what's generally used to measure intelligence, which leads to very few of...
+7Ugh. This is the worst audience for this article. Too...Ugh. This is the worst audience for this article. Too many kids on here that remind me of college - taking business entrepreneur classes and romanticizing being your own boss, doing things "your way" etc. The fact of the matter is that, with all due respect, OP was simply trying to stick it...
+7trash car, trash watch, trash ring, trash heli, trash...trash car, trash watch, trash ring, trash heli, trash vid, trash wife
+7Pokemon Master, I pretended my dog was a Growlithe and...Pokemon Master, I pretended my dog was a Growlithe and taught him a few commands. I actually managed to teach him growl, tackle and bite. I would go in my backyard and imagine all the animals as pidgeys or weedles and send my dog to chase after them. Man I miss my dog.
+7In 100 years, using the average long term inflation rate...In 100 years, using the average long term inflation rate of 3.2%, $1 trillion would have the equivalent purchasing power of $42 billion today. Bloomberg lists 8 people who have greater than $42 B net worth so I'm a little surprised you think this is far-fetched.
+7@Hamburglar: I went to a semi target school on the east...@Hamburglar: I went to a semi target school on the east coast and had no idea what I wanted to do with my life and I did no campus recruiting. I did a few internships during school (including ones at a boutique IB and PE firms in Boston) but would have been happy bartending on a Caribbean...
+7I have a pretty diverse friend group, and as a result I...I have a pretty diverse friend group, and as a result I have had the opportunity to spend time at a variety of different academic institutions, going to parties, lectures, talks, etc. In my experience, there are three types of schools. At tier 3/4 schools (Podunk State University, For-Profit...
+7Did some searching and found them. They were still on...Did some searching and found them. They were still on their site, but you could only access them if you have the direct link. It's a dick move, but I'm not even mad. Wiley & Co just doing the hustle....
+8But if you ask the average student at UC Berkeley or...But if you ask the average student at UC Berkeley or UCLA or even CMU whether they go to a prestigious school, most will say no. If you ask the average engineer at MIT if he goes to a prestigious school, the answer will be "No, fuck you. Harvard is that way, asshole." (At Stanford people will...
+8The "if I give you an offer, would you accept" is highly...The "if I give you an offer, would you accept" is highly unethical, especially during MBA recruiting. The bank should be blacklisted by the school, not the other way around. Whether its off-cycle or not, this is not appropriate behavior.
+7I actually feel like life costs less than what most...I actually feel like life costs less than what most people think, or at least among high paid professionals, they make a lot but also have so much more money related anxiety than ppl who make way less. Even my MD cuts coupons and I'm pretty sure she takes home more than $300k.. I'm a 1st gen...
+7I married older so you can take this for what it's...I married older so you can take this for what it's worth. Find someone whose value system is like yours. With common underlying values you are more likely to have fewer major conflicts. If you like being around the person in the quiets and most other circumstances that are not related to...
+7I think that what might be lost on some of the younger...I think that what might be lost on some of the younger guys on this thread is just this: it's far, far easier than you might imagine to spend money. It all adds up, and it adds up rather quickly. For whatever reason, this thread keeps referring to the spending habits of the $5MM per annum...
+71. I worked in the SF office of a BB (tech group) 2....1. I worked in the SF office of a BB (tech group) 2. Not 100% sure what this question means, so I'll break it down into two questions. Feel free to follow up if I've misinterpreted: A. Best way to network internally at the bank when you first start: DO GOOD WORK. PERIOD. There are lots of...
+7Buy her a MacBook Pro. Buy her a MacBook Pro.
+7The main problem for me is that my parents paid 100%...The main problem for me is that my parents paid 100% of my undergraduate tuition ($200k+) . Sounds like a real problem you got there.
+7Ok, just to set the record straight here as I am sure...Ok, just to set the record straight here as I am sure some of the responders above do not work in BB IBD and are not active in recruiting both for their particular groups as well as for their particular schools. 1. IB is expanding off its "bottom-out" following the crisis; However, this...
+7Damn, too bad he didn't give you a keychain.Damn, too bad he didn't give you a keychain.
+8Dude has an MBA and is making $15 / hour at a retail...Dude has an MBA and is making $15 / hour at a retail branch. Fucking idiot. The CEO of WF is responsible for $1 trillion and making billion dollar decisions, while this jerk off opens a couple checking accounts a day. Typical lib not realizing his compensation is directly related to the value...
+8They are definitely a busy shop, but their culture and...They are definitely a busy shop, but their culture and approach to new business/deals is a bit different than LAZ/EVR/GHL/PWP/CV. In my opinion, it basically comes down to their DLJ heritage vs. the other boutiques which are largely more traditional/conservative (i.e. former MS/GS bankers) 1)...
+7Or just snort cocaine, but to each his own. Coke will...Or just snort cocaine, but to each his own. Coke will get you through one night of no sleep but you really need meth to get >3 days. Of course in 12 months there's a good chance you'll have lost 80 lbs and all of your teeth, but as long as it gets you a prestigious buy side job it's worth it.
+7Athlete, very attractive,/chill, but she sleeps around a...Athlete, very attractive,/chill, but she sleeps around a lot.'but' is the wrong word. 'and' is much more appropriate.
+7My advice? Stop trying to cut corners on your education....My advice? Stop trying to cut corners on your education. No one gives a fuck if you're good at high school math, even if it's advanced math. You're not a prodigy, get over yourself. Your career goals are ostensibly retarded. You obviously have no sense of how VC works, otherwise you would be...
+7I want to learn how to be at the helm of a secret...I want to learn how to be at the helm of a secret organization that operates a series of fronts that takes over public companies against the will of executive management and the board of directors. I'm willing to train for 10 years or longer. Where does one learn how to do this? Is there a...
+7It's a reference to the East Asian Buddhist concept of...It's a reference to the East Asian Buddhist concept of the monkey mind (心猿). However, there's a lot of implicit and referential knowledge behind the imagery. I'll lead you through the logic. The reference to 心猿 is a reference to the longer form Chinese chengyu/idiom ...
+7I worked at GS in IBD for three years after business...I worked at GS in IBD for three years after business school and registered for this site just to respond to you. I went through what you are going through and really encourage you to take what you're experiencing seriously. 100 hour weeks are bad for your physical and mental health. Some ppl can...
+7If the VP says anything just be like "fuck you" and kick...If the VP says anything just be like "fuck you" and kick him in the face with your energy legs
+7I agree with you entirely on this. I would love to hear...I agree with you entirely on this. I would love to hear your view on how SATC destroyed NYC culture. To give you a better understanding, SATC is to girls what American Psycho is to you guys. West Village brownstone : American Gardens Building Brunch at Mercer Kitchen : Dinner at...
+7DCDepository: TNA: Philly has very shitty...DCDepository: TNA: Philly has very shitty parts, but if you make any money you literally never deal with them. You must have lived in the northeast or something. Lived at Logan Circle in a corporate apartment my company paid for. Literally the same exact situation as you and I...
+7When I was 16, I was dating a 16 year old Catholic...When I was 16, I was dating a 16 year old Catholic schoolgirl and she managed to convince herself that she wanted sex more than I did. Which was not true, but I was happy to play long term greedy. When it came to doing the deed, I just could not climax. Getting and sustaining wood was easy...
+7Seasoned my coffee with it. Seasoned my coffee with it.
+7Oh, the good old India analyst program. I came from the...Oh, the good old India analyst program. I came from the same era of WSO.com (the poster/mod). We actually had India analysts. We were busy enough that my BB hired a bunch of Finance MS/MBAs in India from top schools to provide us with support. The India analysts were from the top of their...
+7IB: help grant companies access to financial markets....IB: help grant companies access to financial markets. They perform a variety of duties from advising companies on mergers, acquisitions and restructurings, to helping them issue debt/equity. Basically help companies raise money. VC: Invest in companies that are usually at an early stage of...
+7My details (so you don't think I'm a 22 yr old giving...My details (so you don't think I'm a 22 yr old giving you marital advice): ~40, been married for 10 years, been with her for 15 and I've known her since we were freshmen in college, couple of kids, house in the burbs, the whole shitshow stereotype. Very happily married, she's a great woman. I've...
+7Kid eats dumplings every night. What a legendKid eats dumplings every night. What a legend
+7If you mean $10-30MM payouts from starting a company and...If you mean $10-30MM payouts from starting a company and selling it, very, very few people will get to that point no matter how much work they put into it. Especially at a young age. In the startup/VC/tech world, how many seed level companies actually succeed to any degree? Very few. Very few...
+12Screw diversity. It should all be about performance and...Screw diversity. It should all be about performance and merit, I do not see how diversity might bring anything to the table than make some employees feel comfortable about themselves. Jobs shouldn't be given put because your ethnicity,color of your skin or even sexuality.
+7A year or so ago I had an interview with a sector...A year or so ago I had an interview with a sector specific micro boutique in the City (these are very different to US advisory boutiques). Let's just say that the 80s / 90s finance scene was alive and well at this place. I'm going to be so easily identified as I told everyone who would listen...
+7Nothing compares to what I had to deal with the 6 years...Nothing compares to what I had to deal with the 6 years I worked in luxury hospitality. I've had knives pulled on me, been propositioned by men and women of all ages and in all stages of dress (and sobriety), had a minibar thrown at me, had to clean up every sort of bodily fluid, called the...
+7What would she charge for 3 minutes? That's really all I...What would she charge for 3 minutes? That's really all I need, including introductions and undressing.
+7"While you guys are at Dartmouth. I'll be at state where..."While you guys are at Dartmouth. I'll be at state where the girls are half as smart and twice as likely to fellash me." -Seth, Superbad 2007
+7There is a fantastic post on linkedin from a senior guy...There is a fantastic post on linkedin from a senior guy a Bain, which I highly recommend reading in full. For the full version see type in "The consolidated version: Jonathan's 10 rules for a sustainable consulting career" in Google (I can't paste links as a new user) One of the best...
+7Early in your career, it is a very big deal. Honestly,...Early in your career, it is a very big deal. Honestly, it can help set the stage for the rest of your life. I spent just over 5 years in NYC, first in S&T and then in IB at two BBs. I had an incredible experience...good groups, great friends, a lot of fun, but I worked a lot. I managed the...
+7With all things it depends on what you want. From an...With all things it depends on what you want. From an institutional perspective, CPM's or IPM's (Institutional) serve as the conduit between clients and the portfolio mgmt. group. It's distribution - so however you want to classify that, it's along the lines of sales, and relationship...
+7For $18MM, I would have let him buttfuck me 4 times. YOLOFor $18MM, I would have let him buttfuck me 4 times. YOLO
+7I already have an MBA, but am thinking of applying again...I already have an MBA, but am thinking of applying again for another degree for a two year vacation, a chance to share some of my experiences with the next generation, and to flex my gray matter a little bit. Also, I intend to drink all of my classmates under the table. Of course, I'll write...
+7Where the fuck do you work? An auto-parts store?Where the fuck do you work? An auto-parts store?
+7Creepy. Things I do in the evenings: #1 Usually...Creepy. Things I do in the evenings: #1 Usually work #2 If work allows, some gym time #3 If no work, go home to relax, to an event with my wife or out to a bar or dinner with friends Having to go to dinner with some creepy guy who wants a job (or wants to slip me a mickey and have his...
+7Disclaimer: I put in my two years time at a BB, so...Disclaimer: I put in my two years time at a BB, so everything I say is from that lens Obviously a lot of what an analyst does day to day in IBD isn't incredibly difficult. However, coming out of a two year program you'll have good modeling knowledge, outstanding raw speed in excel (which is...
+7i live a version of this, it's become the new normal....i live a version of this, it's become the new normal. There's never a boring day, but there definitely are downsides you may not realize until you're past the "honeymoon" stage. That said, the benefits for me definitely outweigh the negatives. Some background info: I'm based in S.America...
+7I was physically born in Harvard College (just to be in...I was physically born in Harvard College (just to be in a target birthplace) and had my name changed to Ludovic Rothschild to improve my chances to get into the target pre-kindergarten program at Andover. My plan is to be #1 at everything at Andover and then do Harvard College -> Blackstone R&R...
+7Listen here pipsqueak, you're already behind the 8-ball,...Listen here pipsqueak, you're already behind the 8-ball, which you should have already snorted by now. Also, side note, don't smoke pot in middle school, grow up and do cocaine like a real banker. Listen, at this stage of the game, you're late. You're extinct, you're in back office ops at...
+7I saw this on FB also. Although I doubt it's real, this...I saw this on FB also. Although I doubt it's real, this guy just needs to grow a sack and get over his mid-life crisis. Plenty of people work a lot, have a wife and kids and still find time for all of them. I know personally. I'd like to see my kids more but que sera. What this guy really...
+7graduated little over three yrs ago to be exact. i...graduated little over three yrs ago to be exact. i shopped for bargains at tj maxx and macys then and i still do now. is that a problem? after graduating (ivy), i was fortunate enough to spend the first two yrs out of college doing international relations work for the MENA region and Russia. ...
+7Not sure why I'm getting shat on here but I apologize if...Not sure why I'm getting shat on here but I apologize if I offended anybody?!?! To clarify, I've applied around the 15th of July to BCG but received 1st interview notification last Friday Aug 15th.
+7I'm pretty sure we're in a bubble, but it won't be as...I'm pretty sure we're in a bubble, but it won't be as dire as what Gurley implies publicly. The truth is that too much capital has been flowing into venture capital. When early-stage funds are raising billion-dollar rounds, and when Series A rounds (especially if they're the first...
+7Profanity is the crutch of the inarticulate.Fuck off,...Profanity is the crutch of the inarticulate.Fuck off, you donkey raping shit eater.
+7I gave +1s both to the original post and Dingdong's...I gave +1s both to the original post and Dingdong's reply. First off, breathe. Let's look at the upside. You are alive; even though you feel like happiness, sanity, and control are all slipping away from you, you have the privilege of drawing breath every second anew. You are self-aware;...
+7Non-Target OCR : Definition of an OxymoronNon-Target OCR : Definition of an Oxymoron
+7#28. A modern man uses lube when his wife buttfucks...#28. A modern man uses lube when his wife buttfucks him with her strap-on. This isn't the 1950's where missionary style vaginal sex is the only type of sex allowed. Both partners must allow the other to penetrate them.
+7@Sil has a good point: air conditioned office in some of...@Sil has a good point: air conditioned office in some of the largest and most developed cities in the world where you get an ergonomic desk chair, free coffee/snacks, and your boss MAYBE yells at you once or twice. Relative to historical office/labor environments, modern finance has it pretty...
+7Good to see that no matter how long I'm away from WSO,...Good to see that no matter how long I'm away from WSO, the social awkwardness is always still there upon my return.
+7Ok, here's the least shocking thing I've ever heard: ...Ok, here's the least shocking thing I've ever heard: Goldman employees cheat. Who would have ever guessed? Me. That's who.
+7I look at a picture of my now dead grand-parents....I look at a picture of my now dead grand-parents. Illiterate, broke, miserable peasants who were born in the 1910's. Then I can go on for 3 days without sleep no problem.
+9I personally don't see how any intelligent, rational,...I personally don't see how any intelligent, rational, logical human being could support the Democrats.
+7Honestly, sales. Honestly, sales.
+7Well, it's sensationalist, but true. Women are really...Well, it's sensationalist, but true. Women are really lacking at the higher levels and it's downright depressing for me, a woman working in finance. Nothing like continually struggling against the stream, while making sure you aren't fat or ugly (FO only for the most part), or that people won't...
+7Save dat Money- lil dicky Save dat Money- lil dicky
+7https://www.youtube.com/watch?v=iKcWu0tsiZMhttps://www.youtube.com/watch?v=iKcWu0tsiZM
+8Look, I 100% agree with the basic premise of the first...Look, I 100% agree with the basic premise of the first two posts. You should fail early and often, and use these experiences to get better. However, not getting a 4.0 GPA is hardly a failure. Getting into a lesser target school or semi-target instead of one your top choices is also hardly a...
+7I love getting hammered, boning, and rolling in piles of...I love getting hammered, boning, and rolling in piles of money, as well as shitting on the little people. Seems like I found my calling.
+7No. The M&A market is pretty hot right now. My group at...No. The M&A market is pretty hot right now. My group at my MM is getting the best deal flow that we've ever had. I can only imagine how BBs are like now. When you hear of FO cuts, you need to read the entire article. These FO cuts are in fixed income and trading, that is, parts of the bank that...
+7You're 23 and it's too late? 1. Stop feeling sorry...You're 23 and it's too late? 1. Stop feeling sorry for yourself. 2. Polish your resume and make sure it's ready for the real world. 3.. Define what you want in terms of a job, or what jobs you can reasonably get that will get you to the next step. 4. Make a list of 150 firms that you can...
+8"Thank you for your interest in my candidacy. It was an..."Thank you for your interest in my candidacy. It was an extremely competitive process, and unfortunately, I can only choose one bank. I wish you the best of luck in your search."
+7He said the work wasn't that interesting though as you...He said the work wasn't that interesting though as you can pretty much only do minority deals with family owned businesses. Unlike China, India isn't a very big or rapidly growing PE market so teams are tiny and deal flow is rather poor. I've done a decent amount of business in India and...
+7You fucking owe me for this you motherfucker. Don't be...You fucking owe me for this you motherfucker. Don't be shitty this summer. Credit - -JPM has an awesome credit team (best on the street) -Range of products along the vanilla-derivative scale depending on what you're interested in (as vanilla/fundamental/micro as high yield or distressed, as...
+7I'll raise my hand. I threw MS because you turned an...I'll raise my hand. I threw MS because you turned an inspirational thread into one about race. I'm focusing, as I believe most other monkeys are, on OPs ability to come from the type of upbringing she had to a job in finance, NOT the fact that a black woman (assuming black because she agreed...
+7Original post reads like an e-mail from someone's...Original post reads like an e-mail from someone's great-aunt with a header like "FW: FW: RE: FW: FW: FW: You must read this!! Not pictures of kittens this time!!!".
+7You must still be in school...You must still be in school...
+7An MTA passAn MTA pass
+7Have you moved up yet? i have some experience in that...Have you moved up yet? i have some experience in that world (mine and friends'), it's not as easy as you're making it out to be, and furthermore it fucking sucks on a day to day basis. I'm not trying to slam your career that's just my experience. I think the issue with retail banking is...
+7this isn't a cop-out - but pragmaticism is handy...this isn't a cop-out - but pragmaticism is handy philosophy - if without an ideological consistency. This may be one of my favorite posts. I feel like too many people have been reading Marx or Rand and taking it to heart far too much. Extremist political philosophy doesn't translate to an...
+7The suits, private cars, and dreams of 7 figures? Who...The suits, private cars, and dreams of 7 figures? Who the hell over the age of 13 still thinks wearing a suit is cool? Companies tout a no dress code policy as a perk. Private cars? You mean because you're staying late at 200 West for the fifth night this week so you can take one of their town...
+7That people who ask these types of interview questions...That people who ask these types of interview questions are fucktards. Or that a self described hard core libertarian whose biggest success, Palantir, produces products that helps the CIA and NSA spy on the American people is a hypocrit fucktard.
+7:) WSO has voted for a dick and a dong back to...:) WSO has voted for a dick and a dong back to back. What thrusting league tables....
0Hey Jim, thanks a lot for the insight. I might be...Hey Jim, thanks a lot for the insight. I might be missing something here, but I do not see anything particularly negative about latering to a BB As you suggested the downsides are: 1. start over as a 1st yr analyst. Losing a year is def bad, considering you will be a bitch for an extra...
0Over the course of my two years, I only pulled...Over the course of my two years, I only pulled back-to-back all-nighters twice, and I worked harder than probably any analyst in my class. I typically worked 9am to 2am when I was busy, with a random all-nighter thrown in every week or so to meet a deadline. On weekends you can typically get a...
+7As long as there are successful people, there will be...As long as there are successful people, there will be fat, bitter and mediocre people resenting them for being everything they're not. They at some point in their lives come to the same realization Henry Hill came to at the end of Goodfellas, which was "I'm an average nobody. I get to live the...
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