What do Associates and VPs have in terms of exit options? When the get burned out or want a change, do you...
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This girl from my undergrad looked me up in the alumni directory and emailed the following: Greetings, I am a sophomore thinking about a career in investment banking. I was wondering if you could tell me a little bit about what you do on a day to day basis, and if you could answer some questions about communication. Specifically, what communication skills does a BB look for in an analyst? Besides pitch books, what other sort of documents do you have to write? How important are verbal/speaking skills? Most importantly, what kind of mistakes do you most often see regarding communication? How does a BB help you develop communication skills and avoid these mistakes?
Here is my question. Suppose I had an opportunity at a middle market ($300 to $500 mm)Private Equity shop in a non traditional financial market (think Indianapolis type market). After 3 years as a BB analyst I am looking to get into PE. Due to the location this firm is willing to pay top level $$ in order to attract analysts from larger markets. Should I take the $$ (Base + Bonus + Carry) in the s
'I eat breakfast three hundred yards away from four thousand hedge funds who are trained to pick me off. So don't think for one second that you can come down here, flash a client relationship, and make me nervous. Son, we live in a world that has risks, and those risks have to be avoided by men with models. Who's gonna do it? You? The Sales Force? I have a greater responsibility than you can possibly fathom. You weep for your client and curse the desk. You have that luxury. You have the luxury of not knowing what I know: that your client's loss, while tragic, probably saved p and l. And that my existence, while grotesque and incomprehensible to you, saves p and l.
We're digging through resumes for summer analysts again. Thought everyone might enjoy or benefit from a few of the real gems (all emphasis mine): "Objective: To obtain an internship in the field of financial services to utilize my VAST analytical and quantitative skills." The kid's a sophomore with a 3.43 GPA; how vast can he be? This reminds me of an ex-boyfriend of mine who described himself in public once as "massively endowed" when he actually had around six and a half inches. Nothing to laugh at, of course, but nothing you want to stand up and shout about either. "I have been trading in various markets since my senior year in high school to seek a maximum return.... my returns for the past three consecutive years are 12%, 23%, and 28%."
The All Nighter Blog We will be publishing material on our home page for your enjoyment periodically so check back for some entertaining posts. Below is the second entry... Valuation: more art than science, more bullshit than art
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"The WSO Investment Banking Interview Course was my main study guide and I landed the exact job I wanted, so obviously it was a great investment. The packet was excellent in helping me understand balance sheets, all that technical stuff. I went through 2 months of training afterwards at [BB bank] so I understand the packet even better (almost 100% now)...ha!"
Result: Credit Risk Analyst @ JP Morgan in New York
"I had made it to 2nd and final rounds at a few PE funds, but no offer. The first interview after going through this course I made it to the final rounds and got an offer! I think WSO PE package made the difference - in fact, one of the LBO modeling tests I got in the 2nd round was almost identical to one of the 1 hour LBO ones in the package. Having that modeling practice and the confidence going into the interview is priceless.."
Result: Pre-MBA Associate @ MM Private Equity Fund in New York
"The HF Interview Course was instrumental in building out my knowledge of the space. Essentially a HF 101 course. Invaluable to have it all in one location and helped me transition from PE into hedge funds successfully..."
Result: Analyst @ Elite Hedge Fund in NY