How To Dress For Success On Wall Street
You’ve graduated cum laude from an A-school, networked like a rabid-marketing salesman, and eked-out the technical interview and now you’re on your way to becoming a FY Analyst at a BB firm! As you joyously pack you belongings together in anticipation of re-locating to NYC, you suddenly stop to realize that a new wardrobe is in need because the Hollister popped-collar shirts and kakis shorts are not going to fly on the street so in preparing for the WS lifestyle here’s some practical advice...
I’m going to break away this week from my regularly schedule technical articles to share something on the lighter side...the unspoken WS dress code. Joshua Brown, a New York city-based financial advisor at Fusion Analytics and author of The Reformed Broker gives his practical advice on the reality of Wall Street attire and breaks it down by various positions. I suggest taking it with a sense of humor but it think its the exaggerated truth...
Industry professionals, what is your fashion advice to those just starting?"
Investment Banker
You really only need a pair of pajamas because you're not ever leaving and will sleep in the office more nights than you could possibly imagine. There have been stories about rookie bankers catching naps in utility closets just to show how many hours they can work. The truth is this is a part-hazing, part-barrier of entry, and realistically, none of the work a 23-year-old banker wannabe is doing at 1 am means anything significant.
Trader
Wear a fleece vest over a button-down shirt. That way I know what you are when you're standing in line in front of me at the Jiannetto's pizza truck outside of JPMorgan on Park and 47th. When there are too many trader types ahead of me I'll say something like, "Oh no, not another Flash Crash!" You'll run and I'll get my two grandma slices that much quicker. By the way, the fleece vest over a button-down shirt originated at SAC. Stevie likes to keep the room freezing cold to keep traders alert so every trader you see in that uniform is imitating that, whether they know it or not.
Institutional Broker
Wear something that will adequately conceal a wire. You'll be spending much of your day talking to your buy-side and hedge fund clients and sharing information left and right. There are some conversations that the bugs in your phone won't pick up so the Justice Department asks that you make sure to have some kind of recording device on you at all times.
Sell-Side Analyst
You should pretty much come in with a brown bag over your head with the eyeholes cut out because you will spend the next decade blowing people up with nonsensical calls like overweight or strong neutral. Your price targets will be based on DCF analysis which doesn't really mean anything in the actual supply and demand-based stock market. Getting used to hiding and wearing a bag to cover your shame is probably a great idea, so start early!
Private Wealth Management
You should wear a suit and I'd recommend a stop watch instead of a wrist watch, preferably one with a clock that counts down to zero. Set it to begin counting down 90 days from now because that's how long you'll have to raise your first $20 million in assets. You probably won't hit this minimum but that $16 million you managed to scrape up will be handed over to the grateful 45-year-old VP when you're let go this fall.
So, monkeys what your take on these stereotypes, is there any truth to them?"
…on a more serious note though, as promised here is some actual practical fashion advice for a First-Year Analyst Dress Code. I'd be interested to hear any thoughts on this as well.
Eddie posted this on friday
Agree with Saul.
Monkey Shit thrown....
Someone take this down and deduct any bananas for this.
Fashion Guide to end future posts (Originally Posted: 03/14/2007)
Because all of these constant posts about shoes, ties, suits, overcoats and anything else under the fashion umbrella are quite tiring, here's an article from Bloomberg that will serve as an answer to all of your questions, whether you are a man or woman.
Shop to Drop: $63K to Dress for Wall Street Success (Update1)
By Cotten Timberlake
March 14 (Bloomberg) -- Dressing for success on Wall Street can get expensive.
Consider Christiana Stamoulis, a former investment banker at Goldman Sachs Group Inc., who said in court papers she spent more than $63,169 on designer shoes and clothes in 2002. Her spending, on earnings of $114,819 that year, came to light last week when the U.S. Tax Court disallowed most of the deduction she claimed for donating the clothes to charity.
Sixty-three thousand-plus dollars to make yourself presentable to colleagues and clients?
Barely enough, according to luxury analyst Jim Hurley. While Stamoulis wouldn't discuss her shopping habits, Hurley said it's easy to see how the cost can add up, for men as well as women. To prove it, he led a reporter on a shopping trip to Manhattan's Bergdorf Goodman.
We're going to economize,'' said Hurley, who does regular weekly luxury-store checks as part of his research at Telsey Advisory Group in New York.We're going to be looking for value.''That's a relative term, of course. No Target Corp. or Costco Wholesale Corp. for Hurley. Shopping in Bergdorf's women's store, located on the west side of Fifth Avenue at 58th Street, is like browsing in the private mansion it once was: the Vanderbilts'. Now it belongs to Neiman Marcus Group Inc.
Hurley started on the sixth floor and worked his way down, looking for
bread-and-butter'' wear-to-work offerings with labels well-known to fans of fashions like the ones seen inThe Devil Wears Prada'': Giorgio Armani, Ralph Lauren, Gucci and Dolce & Gabbana. He sported a black nylon zip-up jacket with black jeans for the outing and declined to discuss his own wardrobe.No Red Pantsuits
Moving quickly, he selected 10 suits, 20 tops, one dress and some separate pieces including pants, mostly in black, navy, gray and khaki. No red pantsuits for the high achievers on Wall Street. A $3,290 Giorgio Armani pantsuit in gray windowpane is more their style.
The picks weren't entirely monochromatic. Hurley suggested a $5,745, pink plaid Chanel skirt suit shot with gold thread. ``Very Barbie,'' he called it.
There was also that $1,235 fragola (strawberry) satin tailored shirt with an $865 black pencil skirt from Prada for dinners with clients. And don't forget the $1,500 Ippolita crooked gold-wire bangle with pale yellow citrines. No faux jewels if you want clients to believe your sales pitch.
Cashmere Cape
A large black Loro Piana cashmere cape with suede edging added $1,695 to the imaginary shopping tab. Then there was a black Ralph Lauren trench coat for $998 and a shorter, lighter black coat with off-center buttons for $1,990 from Derek Lam, whom Hurley tips as the next big thing.
That left the items few high-powered women can be without: drop-dead shoes and handbags. Hurley selected 10 pairs of shoes at $465-$895 a pair. His choices included five pairs from Christian Louboutin.
``He's the new Manolo Blahnik,'' Hurley said.
He chose three handbags, including a $2,495 Jumbo Classic quilted Chanel bag in black ``caviar'' texture with a leathered gold chain. For that item, there's a waiting list at least a month long.
``The classics are the classics,'' the saleswoman pronounced.
And instead of a briefcase, Hurley recommended a $970 Goyard tote in green, which he calls the hottest color.
Add in few other items, and the whole shopping spree took only 2 1/2 hours. The bill: $63,148.
Men's Store
Across Fifth Avenue in Bergdorf's men's store, Hurley zeroed in on the $425 Charvet shirts. He chose 10, with point collars and cuffs, a few solids, some patterns, none white. He then added three Kiton striped shirts and three Brioni shirts, checked. The price: $450 each.
He only wanted three brands of ties: Charvet, 10 in small geometric, repetitive patterns, at $170 each; Hermes, five woven twills at $155 each; and six Salvatore Ferragamos, half in flora and half in fauna designs, $135 each.
Hurley now zigged over to Loro Piana and snapped up the navy blue cashmere overcoat, $2,935. ``The best bargain of the day,'' he called it.
Next came the shoes. His first pick: a $450 pair of black Gucci loafers with silver horsebit buckles.
At the cuff-link counter, he didn't hesitate: Deakin & Francis bull-and-bear, blue enamel on gold, $2,200, and black onyx and gold bars from Trianon, $625.
The saleswoman brandished a neat white cuff on which she displayed his choices, to excellent effect.
Off-the-Rack
Ignoring the complimentary Champagne bar on the balcony, Hurley headed to the second floor, where he selected his Italian suits. He decided he could only afford off-the-rack goods, not made-to-measure, which can cost 20 percent more.
In quick succession: four Kitons, $4,495 to $5,895 and three Brionis, at $4,695 each. A Burberry tan trench coat, $895.
Now he added a $1,895 plaid sports coat, with dune-colored pants, $325, from Ermenegildo Zegna. He also picked up a pair of $475 brown lace-up shoes.
On the third, more contemporary, floor, Hurley selected a $4,150 suit from whimsical designer Thom Brown, whose current collection is unusually lined with seersucker.
Hurley returned to the first floor to select a briefcase -- a $2,150 house brand -- two belts, $370 total, and pick up a third pair of shoes, black Testoni lace-ups, $890.
Total ``cost'' of the one-hour visit: $63,170.
``Even at this amount, we still don't have fully realized wardrobes, especially for the woman,'' Hurley said.
http://www.bloomberg.com/apps/news?pid=20601093&sid=apUYXurK2A.I&refer=…
This says nothing about what colors the mens suits were.
You can't figure out colors dude? If you were at least semi-knowledgable about this industry, you'd know it's either gray, charcoal or navy and they are either plain, pinstripes or windowpane.
The fuck is wrong with you people? This isn't rocket science.
Waste of money. That girl should be bitch slapped.
this is pathetic new age shit. im in the process of compiling an authoritative guide to mens business attire.
Why work your tail off for clothes.. and don't say for pitches or client meetings.. majority of investment bankers don't meet with clients (only the top few). Even then they arent going to look at your suit and say oh, hes wearing something thats worth less than $4000, lets ditch him. If you are going to blow that money, do it on something thats more worth it. You would think that people that worked this hard wouldn't take their money for granted this easily. Just my two cents
Dont most bankers just spend their money on coke and strippers anyhow? They are expensive enough already.
Yeah define worth it? Different people have different values, good or bad.
This story goes to show how silly this industry has become. It's about the work you put in, although you still need to look presentable (as long as it doesnt cost you an arm and a leg!)
Since when would Louboutins be office-appropriate?
Read this hilariously detailed "UBS Dress Code" guide: http://thefinanser.co.uk/files/ubs-dress-code.pdf.
Like this classic:
"In general, it is not advisable to wear a jacket whose pockets are overfilled, as this disrupts pace."
That spending is unreal. My first suit cost 50 dollars.
I think you really have to be a moron, or at least obsessed with brands, to spend that much. A bespoke Saville row suit costs 5k on the high end, depending on the exchange rate.
You can get a comparable suit in Asia for a few hundred; if you don't want to make the trip, there are plenty of immigrant tailors who can still do it for under 1k. And if you are willing to go made to measure, you can get a top notch suit for ~450. It might not have the construction of a Kiton, but it will probably fit better.
It's conspicuous consumption on crack.
Wall Street dressing style? (Originally Posted: 07/01/2014)
What is the usual style to dress in WS? I´m planning to buy a Ralph Lauren purple label pinstripe suit. But it´s much like 1920´s style. So is that ok or too dandy? What do you think?
In short: Is purple label ok or should it be worn only at some fancy parties?
Have you been down to Wall St. lately? People don't wear pants anymore, it's just a thing now. If your dick is small, might as well not even leave home
Confirmed. These days on Wall Street dick measuring isn't just an expression.
short suit dipshit
Did you put this shit through google translator?
As long as they are very pronounced and bright chalk stripes, and there's a slight sheen to the suit. And make sure you wear black shiny shoes, patent leather even better, with tassles and pink socks.
But like @"HFer_wannabe" said, downtown on Wall Street people aren't really wearing pants much anymore. They're so 20th century. But if you're going to be working at a mid-town firm guys usually walk around with their flies down and grapefruiting in the office. They're all BSD's in midtown and want you to know how big their balls are.
Try not to make it so obvious you are a transplant. Go get some square toe shoes to match your ensemble.
Wall St fashion advice for a non-Wall St person? (Originally Posted: 12/24/2013)
Hi everyone,
I was an investment banker for 5 years in Asia. I'm working in the US for a $500M company at a senior (non-CXO) level. The job requires only a little client facing but a lot of meetings in cross functional teams.
Could you advise me on suits / clothes / shoes in terms of quantity, brands, etc? In my company employees typically wear business casuals (shirt, pant, no tie, no coats unless there is a meeting).
Thank you.
you are going to want to stock up on do-rags
Wall Street Attire (Originally Posted: 04/02/2014)
What's a good watch brand that lets all the other bankers at other firms know you're the shit. Please don't comment with tier 1 rolex, cartier, patek, etc.
http://www.toysrus.com/buy/kid-s-watches/disney-princess-interchangeabl…
No one's gonna fuck with you if you're wearing that.
Pairing that with a $2k suit and gamo shoes & tie, you feed the "my 4-year old daughter who I raise myself got me it for father's day" = pussy galore
Nothing says "you're the shit" like this watch below. Shocked you don't see more of them around the st.
http://www1.macys.com/shop/product/guess-watch-mens-chronograph-gold-to…
Don't forget to match your socks..
If you're an intern, just go with something like a Tissot or a Hamilton. Even some jap watches aren't bad, like an Orient Ray (nice automatic in-house movement, sapphire upgradeable separately, pretty good accuracy, and great lume!).
If you're FT - my personal favourite I'd save up for would be a nice IWC, especially the Portuguese line. Personally, I LOATHE that stupid Cyclops on every Rolex; it just ruins being able to look at the day from an angle.
I agree about how dumb cyclops' look. What about brands like Fredrique Constant or Baume and Mercier?
make sure that the brand of your watch also makes clothes... those are always the best
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