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I-banking
 

FSU vs UW Madison

Wilk95's picture
(Chimp, 11
 
Points)
 on 4/7/13 at 8:22pm

Hello monkey's, I'm at a crossroads right now indeterming where to spend the next four years and I am wondering if I should attend either Wisconsin or FSU for a better shot at the street. I realize neither of these schools are targets but I guess UW could be considered a semi-target, however with that said, if I attend FSU I would have no college loans to pay off coming out where at Wisconsin I would be in the hole about 40k. I was looking for some advice, are the loans worth it or should i just go to FSU and be prepared to work my ass off?

Thanks!

Analysts Finishing Programs This Summer -- How are you feeling?

oppcostofcapital's picture
IB
 
Points)
 on 3/17/13 at 8:05pm

2nd / 3rd years -- how does it feel to be almost done your programs? Still busy? If you're going to take vacation this summer, where are you going to go?

Thought this thread would be a good idea for analysts almost done as well as first years who need some inspiration to keep pushing and make it to the end.

Transition to Banking Advice

jmbjr2012's picture
O
(Monkey, 33
 
Points)
 on 3/17/13 at 7:29am

Is it possible to get an analyst position 1 years out of school? Graduated undergrad and will now begin working for a top mutual fund for atleast a year. Do you guys ever hear about people coming in after 1 year? Trying to figure out how I will venture into banking either now or after grad school

I-Banking Question

jmbjr2012's picture
O
(Monkey, 33
 
Points)
 on 3/4/13 at 2:26am

I understand that most people that get into this industry start off as an analyst for 2 years, go get an MBA and then come back as an associate. Where are people placed if they move into the industry for their first time after an MBA?

Careers That Hollywood Over-Hypes (IB #1?)

wallstdj's picture
IB
(Baboon, 150
 
Points)
 on 2/20/13 at 1:00am
ib over hyped.jpg

I saw this article "Careers That Hollywood Over-Hypes" on Yahoo earlier today and wanted to know how my fellow Monkeys felt about the description of being and investment banker.
[quote]Over-Hyped Career #1: Investment Banker

Remember Gordon Gekko from "Wall Street" and his "Greed is good" mantra? Well, it certainly was for Wall Street giant Gekko, who wheels around in limos, watches South Hampton sunrises, buys and sells precious art pieces like trading cards, and makes more money in a day than most of us see in a lifetime.

Queen's Commerce just owned Goldman Sachs recruits!

GS_McK's picture
(Chimp, 5
 
Points)
 on 1/21/13 at 10:03pm

Guys,

The exiting QC class of 2012 had 6 students hired full-time by Goldman. 5 went to NYC, 1 to Toronto.

What generally happens to book value of a combined company after an acquisition

furiousgeorge86's picture
IB
(Baboon, 155
 
Points)
 on 1/5/13 at 3:55pm

Hey guys. I'm not in Corporate Finance, so this is kind of just a side thing I'm curious about. I asked my IBD buddy but his response was "I'm a banker, all I care about is profits and revenue, I could give two shits about book value". How very banker of you, but its all in the game. I'm a value investor type (not my job), which means I'm obsessed with book value, and created a customized index at work that looks at book values.

My question: I know that when companies do stock for stock acquisitions you just add the book value. But when a company either pays by cash off BS, issues stock then pays cash, or issues debt than pays cash, what happens to book value? Would you say it generally goes up? Or stays the same?

Applying Online at BB from Target Schools

hihidaruma's picture
 
Points)
 on 12/13/12 at 9:29pm

Hi WSO,

I am a student at an non- H/Y/P/Wharton Ivy, and I've been doing a bit of research here on WSO about methods to reach out to IBD opportunities. I've been taking a lot of people's advice regarding contacting alumni, networking, etc, and I feel fortunate to have a selection of BB opportunities to apply to from OCR. However, there are a number of major banks such as UBS, Credit Suisse, and Barclays that do not recruit on our campus. I am networking with alums at some of these places, but in addition to that, I want to shoot out a few apps through online applications. I'm wondering if any other students from target schools have had success going through online applications?

Applying Online at BB from Target Schools

hihidaruma's picture
 
Points)
 on 12/13/12 at 9:29pm

Hi WSO,

I am a student at an non- H/Y/P/Wharton Ivy, and I've been doing a bit of research here on WSO about methods to reach out to IBD opportunities. I've been taking a lot of people's advice regarding contacting alumni, networking, etc, and I feel fortunate to have a selection of BB opportunities to apply to from OCR. However, there are a number of major banks such as UBS, Credit Suisse, and Barclays that do not recruit on our campus. I am networking with alums at some of these places, but in addition to that, I want to shoot out a few apps through online applications. I'm wondering if any other students from target schools have had success going through online applications?

I-banking Analyst VS Actuarial Analyst

IvyGrad's picture
 
Points)
 on 11/25/12 at 6:00am
ib v actuary.jpg

I have several friends from college working as I-banking analysts in NYC banks. Despite their 6-figure salary, not one of them seem to be genuinely happy with their job. Actually, one of my friends just quit his job with nothing lined up. He told me he just hated his job so much and couldn't take it anymore, grinding out 90-100 hours a week, doing mindless data-entry work on excel spreadsheets.

The most common complaints I hear regarding banking are: 1) intense workload, 2) unpredictable work schedule, 3) mind-numbingly boring work, 4) retarded hierarchy culture.

Now, I don't work in banking so I can't confirm any of the above, but I give my friends benefit of the doubt, anyhow.

Vault Guide To The Top 50 Banking Employers

A2Allegiance's picture
 
Points)
 on 10/25/12 at 1:01am

Hey monkeys,

Just wondering if anyone has the 2013 edition of the Vault Guide to the Top 50 Banking Employers?

The copy that I have is a few years old, and now that I am finally a junior and looking for SA spots at different banks, the inside scoop would be greatly appreciated.

I have a ton of other vault guides too, if anyone wants to trade. Thanks in advance for the help.

Questions in Finding a Job In I-Banking

ZHD's picture
(Monkey, 47
 
Points)
 on 10/19/12 at 2:37pm

I am about to graduate in Master of Economics, and I kind want to find a job in I-banking. Except the knowledge from the school courses that I have taken, such as analyzing data and constructing models to explain some questions, I, honestly,have no experience on Investment Banking and finding a Job in United States. I wish everybody who is good at this field could help me, I am so appreciated for it. Thank you!

Next Up: Hi-Crush Partners

gordo's picture
IB
(Baboon, 148
 
Points)
 on 8/13/12 at 1:41pm
Hi-Crush

Hi-Crush Partners LP is the only remaining IPO schduled until probably mid-to-late September. Now that the waters have been tested, is Hi-Crush hitting the market at the right time? Of last week's IPOs, 3 out of 4 either stayed neutral or saw gains at the closing bell.

Breaking into I-Banking after Big 4 + MBA?

WhoSteen's picture
(Monkey, 42
 
Points)
 on 8/13/12 at 1:27am

Hello all.

I'll just get straight to the point, I go to a non target in which almost no one gets recruited by BB's but plenty by the Big 4. I'm planning to transfer into NYU, but even if I get accepted money will be a huge problem, but anyways this is in the case i dont get into NYU. For any of the I-Bankers out there and people that are experienced with this sort of stuff, is it a common path to get some big 4 experience and then go get an MBA (I live in NY, so I'd be aiming for either Columbia or NYU) and get onto the street in IB? Would you imagine it working? Or would I be better off just working at a boutique and working my way up?

What Do Megfund Classes Look Like Across the Street?

Banking34075's picture
 
Points)
 on 8/12/12 at 10:37pm

Hey guys, I was just interested to know if anyone knows what previous year's incoming associate classes at megafund pe shops (ie Blackstone, KKR, TPG, Carlyle, Bain Cap, Apollo, etc.) have looked like in terms of where those who are coming in spent their 2 years prior to pe. If anyone has any breakdowns I think it'd be very interesting for people to see that are still in college.

Networking ninja

soules9219's picture
(Monkey, 45
 
Points)
 on 8/10/12 at 8:46am

Hello Monkey's,

Long story short I am looking for suggestions (bullet points easy for you and I) on how to network effectively and land a Fall internship/Spring internship and most importantly a summer internship...

I've read around a lot and found some good guides, I'm sure most people know mergers-and-inquisitions, I downloaded the free networking ninja guide

Currently I am perfecting my 2-3 line pitch for cold calls, will rehearse them and start from low-to-high priority banks.. perfecting my story for if I am asked, tidying up my resume and etc.

I was wondering if anyone can give me any other suggestions on what I could do to improve my methods

(4/4) Undergrad Review: Michigan Investment Banking Club

gordo's picture
IB
(Baboon, 148
 
Points)
 on 7/19/12 at 4:55pm
Michigan

A while back I posted about how public universities are developing a growing presence on Wall Street. In that post, I highlighted four undergraduate programs that have earned an upstanding reputation for job placement. Over a four week span, I will give you guys a better understanding of each and the benefits of joining them.

The University of Michigan is arguably the best public school (notice I said public, not non-target) for prospective monkeys. Founded in 2007, Investment Banking Club gives its members all of the resources necessary to pursue careers on Wall Street.

(3/4) Undergrad Review: Fisher Futures - OSU

gordo's picture
IB
(Baboon, 148
 
Points)
 on 7/9/12 at 2:15pm
OSU

A few weeks ago I posted about how public universities are developing a growing presence on Wall Street. In that post, I highlighted four undergraduate programs that have earned an upstanding reputation for job placement. Over a four week span, I will give you guys a better understanding of each and the benefits of joining them.

Exit Ops for M&A?

gordo's picture
IB
(Baboon, 148
 
Points)
 on 7/5/12 at 2:56pm

Lately I've developed a growing interest in M&A. I'm a rising junior and currently doing an unpaid internship at a small M&A advisory firm, with hopes of getting a BB IBD next summer.

I find the work I'm doing to be very interesting, but I don't want to do this forever. I looked into M&A divisions at law firms but I'm afraid that my options are too narrow. My question is; what are some of the exit ops for M&A?

Best path into Banking

l1207's picture
CF
(Chimp, 15
 
Points)
 on 6/28/12 at 6:13pm

I will be graduating with my MBA in Finance from Hofstra with a 3.5gpa. I want to break into banking probably a small to mid-tier firm.

What do I need to do in my final semester of school and what certifications, clubs, and preparation do I need? Is Wall Street Prep legit? Are there better programs?

I currently work about 60 hours a week at a Fortune 300 company and what to jump to banking with my degree. I already have excellent excel skills and a mind for Finance.

From successful bankers out there. Whats the best advice and information you can give me.

Thanks.

which do I choose?

gordo's picture
IB
(Baboon, 148
 
Points)
 on 6/27/12 at 11:07am

Hi everyone,

I'm currently in a dilemma over which internship to choose. I am a rising junior and hoping to get an IBD SA next summer at BB or large boutique.

Option 1 - small m&a advisory firm: here I would get exposure to recasting financials, writing pitch books, and marketing deals. My only concern is that I'm unsure of the difference between m&a advisory and investment banking, and don't know if this will help me land a IBD gig next summer.

Option 2 - very small "boutique" investment bank: here I would work with the m&a director in researching potential buyers while also work with the director of capital. My concern, first off, is size (2-4 people). Secondly, my responsibilities are not as defined and I may be doing more bitch work than I would like.

(2/4) Undergrad Review: Indiana University - IB Club

gordo's picture
IB
(Baboon, 148
 
Points)
 on 6/25/12 at 2:15pm
wso.jpg

A couple of weeks ago I posted about how public universities are developing a growing presence on Wall Street. In that post, I highlighted four undergraduate programs that have earned an upstanding reputation for job placement. Over a four week span, I will give you guys a better understanding of each and the benefits of joining them.

For week two, I will be covering Indiana University - Bloomington's Investment Banking Club. In this organization, undergraduate students are exposed to DCF valuation, LBO, and the financial industry as a whole outside of the classroom. In addition, members gain exposure to resume writing and networking seminars in order to increase their candidacy for competitive internships and full-time opportunities.

What kind of company should one write an equity research report on?

craigje1992's picture
PE
 
Points)
 on 6/20/12 at 5:10pm

What kind of company should one write an equity research report on?

Like what reasons should someone have for writing a report on Company XYZ?

I'm trying to decide what to write an initiation report on. Could someone help? I was thinking Caribou, but everyone covers that, and it's not like there's something that most analysts are missing that I could pick up on...

Thanks! Any help is greatly, greatly appreciated!

Macroeconomic Question

craigje1992's picture
PE
 
Points)
 on 6/20/12 at 5:08pm

What kind of company should one write an equity research report on?

Like what reasons should someone have for writing a report on Company XYZ?

I'm trying to decide what to write an initiation report on. Could someone help? I was thinking Caribou, but everyone covers that, and it's not like there's something that most analysts are missing that I could pick up on...

Thanks! Any help is greatly, greatly appreciated!

(1/4) Undergrad Review: Nittany Lion Fund, LLC

gordo's picture
IB
(Baboon, 148
 
Points)
 on 6/18/12 at 6:11pm
wso.jpg

Last week I posted about how public universities are developing a growing presence on Wall Street. In that post, I highlighted four undergraduate programs that have earned an upstanding reputation for job placement. Over a four week span, I will give you guys a better understanding of each and the benefits of joining them.

For the first week, I will be covering the Nittany Lion Fund, LLC – Penn State. Founded in 2005, this $4 million student-managed mutual fund has a habit of placing kids on the street (both in IBD and S&T). (See the link below)

CAREER OPPORTUNITIES

Networking?

gordo's picture
IB
(Baboon, 148
 
Points)
 on 6/18/12 at 2:12pm

Everyone says that in order to land a IBD job/internship at BB (GS, JPM, etc.) or Elite boutiques (Greenhill, jeffries, etc.) you need to network. But what can you do to network if you don't have a very big alumni network on wall street?

SA suits?

gordo's picture
IB
(Baboon, 148
 
Points)
 on 6/14/12 at 4:27pm

So I'm in desperate need of some new suits and am looking for advice. What brand (Jos. A Bank, Brooks Brothers, etc.) would be best for a SA? I don't want to roll in with a cheap suit, but I don't want to spend a grand on each. Also, which colors are best? Thanks.

Need help with resume: non target schools MBA, international IB experience. Any chances landing in IB job?

heytae's picture
 
Points)
 on 6/12/12 at 1:16am

I really need help with my resume. I am not sure if I will be able to get an Investment banking job in the states (I am a permanent resident, so I do not have to worry about the Visa).
I recently got an MBA from State University, with a decent GPA. I had some IBD experience from Thailand, which I am not sure if I should include some of the deals that I was participated.
And another concern is the gap in my resume from 2008 to 2011, which I spent my time in language school and prepare for an MBA.

Thank you in advance. I really appreciated all the comments.

http://www.razume.com/documents/26020

Public Schools on the Street

gordo's picture
IB
(Baboon, 148
 
Points)
 on 6/11/12 at 9:24pm
wso.jpg

Are public universities developing a presence on Wall Street?
Nowadays, more and more kids are choosing state schools in order to avoid the burden of student loans. With the cost of education constantly increasing, some of brightest students whined up going to school somewhere near home; thereby putting them at a “disadvantage” off the bat. But, does this mean they can’t make it to the Street? I think not.

Investment Banking v. Investment Management

artfuldodger23's picture
 
Points)
 on 5/29/12 at 4:41pm

Hey guys,

I was wanting to know what are some of the big and main differences between both IB and IM/AM . Also how are the exit opportunities for each one because I would like to work in one of the industries for a few years and go back for graduate school again. My school also happens to let us choose a specific finance track and I narrowed it down between these two, in your personal opinions what would be the better track for a stable job (I am not looking for high pay but better hours, stability and a decent salary): investment management track or investment banking track?

Any help would be greatly appreciated

Thanks!